THERMO FISHER SCIENTIFIC INC., 10-Q filed on 5/2/2025
Quarterly Report
v3.25.1
Cover
 3 Months Ended
Mar. 29, 2025
shares
Entity Listings [Line Items]  
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Mar. 29, 2025
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 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
Entity Common Stock, Shares Outstanding 377,493,912
Entity Central Index Key 0000097745
Amendment Flag false
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q1
Common Stock, $1.00 par value  
Entity Listings [Line Items]  
Title of 12(b) Security Common Stock, $1.00 par value
Trading Symbol TMO
Security Exchange Name NYSE
3.200% Notes due 2026  
Entity Listings [Line Items]  
Title of 12(b) Security 3.200% Notes due 2026
Trading Symbol TMO 26B
Security Exchange Name NYSE
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)  
Entity Listings [Line Items]  
Title of 12(b) Security 1.400% Notes due 2026
Trading Symbol TMO 26A
Security Exchange Name NYSE
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)  
Entity Listings [Line Items]  
Title of 12(b) Security 1.450% Notes due 2027
Trading Symbol TMO 27
Security Exchange Name NYSE
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)  
Entity Listings [Line Items]  
Title of 12(b) Security 1.750% Notes due 2027
Trading Symbol TMO 27B
Security Exchange Name NYSE
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)  
Entity Listings [Line Items]  
Title of 12(b) Security 0.500% Notes due 2028
Trading Symbol TMO 28A
Security Exchange Name NYSE
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)  
Entity Listings [Line Items]  
Title of 12(b) Security 1.375% Notes due 2028
Trading Symbol TMO 28
Security Exchange Name NYSE
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)  
Entity Listings [Line Items]  
Title of 12(b) Security 1.950% Notes due 2029
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
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
Trading Symbol TMO 32
Security Exchange Name NYSE
3.650% Notes due 2034  
Entity Listings [Line Items]  
Title of 12(b) Security 3.650% Notes due 2034
Trading Symbol TMO 34
Security Exchange Name NYSE
2.875% Notes due 2037  
Entity Listings [Line Items]  
Title of 12(b) Security 2.875% Notes due 2037
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
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
Trading Symbol TMO 49
Security Exchange Name NYSE
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,134 $ 4,009
Short-term investments 1,813 1,561
Accounts receivable, less allowances of $165 and $173 8,455 8,191
Inventories 5,224 4,978
Contract assets, net 1,366 1,435
Other current assets 2,387 1,964
Total current assets 23,378 22,137
Property, plant and equipment, net 9,331 9,306
Acquisition-related intangible assets, net 15,323 15,533
Other assets 4,516 4,492
Goodwill 46,493 45,853
Total assets 99,041 97,321
Current liabilities:    
Short-term obligations and current maturities of long-term obligations 2,819 2,214
Accounts payable 3,049 3,079
Accrued payroll and employee benefits 1,419 1,988
Contract liabilities 2,866 2,852
Other accrued expenses 3,022 3,199
Total current liabilities 13,174 13,332
Deferred income taxes 1,041 1,268
Other long-term liabilities 3,971 3,989
Long-term obligations 31,370 29,061
Redeemable noncontrolling interest 128 120
Thermo Fisher Scientific Inc. shareholders’ equity:    
Preferred stock, $100 par value, 50,000 shares authorized; none issued 0 0
Common stock, $1 par value, 1,200,000,000 shares authorized; 444,246,082 and 443,841,240 shares issued 444 444
Capital in excess of par value 18,111 17,962
Retained earnings 54,447 53,102
Treasury stock at cost, 66,752,170 and 63,066,906 shares (21,269) (19,226)
Accumulated other comprehensive income/(loss) (2,343) (2,697)
Total Thermo Fisher Scientific Inc. shareholders’ equity 49,390 49,584
Noncontrolling interests (33) (33)
Total equity 49,357 49,551
Total liabilities, redeemable noncontrolling interest and equity $ 99,041 $ 97,321
v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Allowance $ 165 $ 173
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, $1 par value - shares issued (in shares) 444,246,082 443,841,240
Treasury stock at cost (in shares) 66,752,170 63,066,906
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Revenues    
Total revenues $ 10,364 $ 10,345
Costs and operating expenses:    
Selling, general and administrative expenses 2,078 2,183
Research and development expenses 342 331
Restructuring and other costs 98 29
Total costs and operating expenses 8,648 8,682
Operating income 1,716 1,663
Interest income 203 279
Interest expense (303) (363)
Other income/(expense) 3 10
Income before income taxes 1,620 1,589
Benefit from/(provision for) income taxes (95) (281)
Equity in earnings/(losses) of unconsolidated entities (14) 23
Net income 1,511 1,331
Less: net income/(losses) attributable to noncontrolling interests and redeemable noncontrolling interest 4 4
Net income attributable to Thermo Fisher Scientific Inc. $ 1,507 $ 1,328
Earnings per share attributable to Thermo Fisher Scientific Inc.    
Basic (in dollars per share) $ 3.99 $ 3.47
Diluted (in dollars per share) $ 3.98 $ 3.46
Weighted average shares    
Basic (in shares) 378 382
Diluted (in shares) 379 384
Product revenues    
Revenues    
Total revenues $ 5,980 $ 5,955
Costs and operating expenses:    
Cost of revenues 3,125 2,939
Service revenues    
Revenues    
Total revenues 4,384 4,390
Costs and operating expenses:    
Cost of revenues $ 3,004 $ 3,201
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Comprehensive income/(loss)    
Net income $ 1,511 $ 1,331
Currency translation adjustment:    
Currency translation adjustment (net of tax provision (benefit) of $(207) and $166) 360 456
Unrealized gains/(losses) on available-for-sale debt securities    
Unrealized holding losses arising during the period (net of tax (provision) benefit of $0 and $0) 0 (1)
Unrealized gains/(losses) on hedging instruments:    
Reclassification adjustment for losses included in net income (net of tax (provision) benefit of $0 and $0) 1 1
Pension and other postretirement benefit liability adjustments:    
Pension and other postretirement benefit liability adjustments arising during the period (net of tax (provision) benefit of $1 and $0) (3) 1
Amortization of net loss included in net periodic pension cost (net of tax (provision) benefit of $0 and $0) 1 0
Total other comprehensive income/(loss) 358 457
Comprehensive income/(loss) 1,869 1,788
Less: comprehensive income/(loss) attributable to noncontrolling interests and redeemable noncontrolling interest 8 1
Comprehensive income attributable to Thermo Fisher Scientific Inc. $ 1,861 $ 1,787
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Comprehensive Income [Abstract]    
Tax provision (benefit) on currency translation adjustment $ (207) $ 166
Tax (provision) benefit on unrealized holding losses arising during the period 0 0
Tax benefit on reclassification adjustment for losses on hedging instruments recognized in net income 0 0
Tax benefit (provision) on pension and other postretirement benefit liability adjustments arising during the period 1 0
Tax benefit (provision) on amortization of net loss included in net periodic pension cost $ 0 $ 0
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Operating activities    
Net income $ 1,511 $ 1,331
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 276 285
Amortization of acquisition-related intangible assets 429 551
Change in deferred income taxes (279) (253)
Stock-based compensation 75 70
Other net non-cash expenses 135 53
Changes in assets and liabilities, excluding the effects of acquisitions (1,425) (787)
Net cash provided by operating activities 723 1,251
Investing activities    
Purchases of property, plant and equipment (362) (347)
Proceeds from sale of property, plant and equipment 12 4
Proceeds from cross-currency interest rate swap interest settlements 87 64
Purchases of investments (264) (1,758)
Other investing activities, net 1 7
Net cash used in investing activities (527) (2,030)
Financing activities    
Net proceeds from issuance of debt 2,840 1,205
Repayment of debt (838) 0
Purchases of company common stock (2,000) (3,000)
Dividends paid (149) (135)
Other financing activities, net 45 110
Net cash used in financing activities (102) (1,821)
Exchange rate effect on cash 37 22
Increase (decrease) in cash, cash equivalents and restricted cash 132 (2,578)
Cash, cash equivalents and restricted cash at beginning of period 4,040 8,097
Cash, cash equivalents and restricted cash at end of period $ 4,172 $ 5,519
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTEREST AND EQUITY (Unaudited) - USD ($)
$ in Millions
Total
Total Thermo Fisher Scientific Inc. Shareholders’ Equity
Common Stock
Capital in Excess of Par Value
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Items
Noncontrolling Interests
Beginning Balance at Dec. 31, 2023 $ 118              
Redeemable Noncontrolling Interest [Roll Forward]                
Net income/(loss) 4              
Other comprehensive items (3)              
Ending Balance at Mar. 30, 2024 119              
Balance (in shares) at Dec. 31, 2023     442,000,000          
Beginning Balance at Dec. 31, 2023 46,724 $ 46,735 $ 442 $ 17,286 $ 47,364 $ (15,133) $ (3,224) $ (11)
Treasury stock beginning balance (in shares) at Dec. 31, 2023           56,000,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of shares under stock plans (in shares)     1,000,000          
Issuance of shares under stock plans 103 103 $ 1 126   $ (24)    
Stock-based compensation 70 70   70        
Purchases of company common stock (in shares)           6,000,000    
Purchases of company common stock (3,000) (3,000)       $ (3,000)    
Dividends declared (149) (149)     (149)      
Net income/(loss) 1,328 1,328     1,328      
Other comprehensive items 460 460         460  
Contributions from (distributions to) noncontrolling interests (1)             (1)
Excise tax from stock repurchases (29) (29)       $ (29)    
Balance (in shares) at Mar. 30, 2024     443,000,000          
Treasury stock ending balance (in shares) at Mar. 30, 2024           61,000,000    
Ending Balance at Mar. 30, 2024 45,504 45,516 $ 443 17,482 48,542 $ (18,186) (2,764) (12)
Beginning Balance at Dec. 31, 2024 120              
Redeemable Noncontrolling Interest [Roll Forward]                
Net income/(loss) 5              
Other comprehensive items 3              
Ending Balance at Mar. 29, 2025 128              
Balance (in shares) at Dec. 31, 2024     444,000,000          
Beginning Balance at Dec. 31, 2024 $ 49,551 49,584 $ 444 17,962 53,102 $ (19,226) (2,697) (33)
Treasury stock beginning balance (in shares) at Dec. 31, 2024 63,066,906         63,000,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of shares under stock plans $ 50 50   74   $ (24)    
Stock-based compensation 75 75   75        
Purchases of company common stock (in shares)           4,000,000    
Purchases of company common stock (2,000) (2,000)       $ (2,000)    
Dividends declared (163) (163)     (163)      
Net income/(loss) 1,507 1,507     1,507      
Other comprehensive items 355 354         354 1
Contributions from (distributions to) noncontrolling interests (1)             (1)
Excise tax from stock repurchases $ (18) (18)       $ (18)    
Balance (in shares) at Mar. 29, 2025     444,000,000          
Treasury stock ending balance (in shares) at Mar. 29, 2025 66,752,170         67,000,000    
Ending Balance at Mar. 29, 2025 $ 49,357 $ 49,390 $ 444 $ 18,111 $ 54,447 $ (21,269) $ (2,343) $ (33)
v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTEREST AND EQUITY (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Stockholders' Equity [Abstract]    
Dividends declared (in dollars per share) $ 0.43 $ 0.39
v3.25.1
Nature of Operations and Summary of Significant Accounting Policies
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Summary of Significant Accounting Policies 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, increase laboratory productivity, and improve patient health through diagnostics and the development and manufacture of life-changing therapies. Markets served include pharmaceutical and biotech, academic and government, industrial and applied, as well as healthcare and diagnostics.
Interim Financial Statements
The interim condensed consolidated financial statements presented herein have been prepared by the company, are unaudited and, in the opinion of management, reflect all adjustments of a normal recurring nature necessary for a fair statement of the financial position at March 29, 2025, the results of operations for the three-month periods ended March 29, 2025 and March 30, 2024, and the cash flows for the three-month periods ended March 29, 2025 and March 30, 2024. Interim results are not necessarily indicative of results for a full year.
The condensed consolidated balance sheet presented as of December 31, 2024, has been derived from the audited consolidated financial statements as of that date. The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and do not contain all information that is included in the annual financial statements and notes thereto of the company. The condensed consolidated financial statements and notes included in this report should be read in conjunction with the 2024 financial statements and notes included in the company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC). Certain reclassifications of prior year amounts have been made to conform to the current year presentation.
Note 1 to the consolidated financial statements for 2024 describes the significant accounting estimates and policies used in preparation of the consolidated financial statements. There have been no material changes in the company’s significant accounting policies during the three months ended March 29, 2025.
Amounts and percentages reported within these condensed consolidated financial statements are presented and calculated based on underlying unrounded amounts. As a result, the sum of components may not equal corresponding totals due to rounding.
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. Actual results could differ from those estimates.
Recent Accounting Pronouncements
The following table provides a description of recent accounting pronouncements adopted and those standards not yet adopted with potential for a material impact on the company's financial statements or disclosures.
StandardDescriptionRequired adoption timing and approachImpact of adoption or other significant matters
Standards recently adopted
ASU No. 2022-04, Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations
New guidance to disclose information about supplier finance programs. Among other things, the new guidance requires expanded disclosure about key program terms, payment terms, and amounts outstanding for obligations under supplier finance programs for each period presented.
Some aspects adopted in 2023 using a retrospective method and other aspects adopted in 2024 using a prospective method Not material
ASU No. 2023-07, Segment Reporting (Topic 280): Improving Reportable Segment Disclosures Among other things, new guidance to disclose significant segment expenses and other items by reportable segment as well as information about the chief operating decision maker.2024 annual report and interim periods thereafter using a retrospective methodIncreased disclosures in Note 11
Standards not yet adopted
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax DisclosuresAmong other things, new guidance to disclose additional information about the tax rate reconciliation and income taxes paid.2025 annual report and interim periods thereafter using a prospective or retrospective methodWill increase disclosures in Note 7
ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesNew guidance to disclose specified information about certain costs and expenses.2027 annual report and interim periods thereafter using a prospective or retrospective methodWill increase disclosures in Note 6
v3.25.1
Supplemental Balance Sheet Information
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Information Supplemental Balance Sheet Information
Inventories
The components of inventories are as follows:
(In millions)March 29, 2025December 31, 2024
Raw materials$1,862 $1,803 
Work in process874 755 
Finished goods2,488 2,420 
Inventories$5,224 $4,978 
Contract-related Balances
Contract asset and liability balances are as follows:
(In millions)March 29, 2025December 31, 2024
Current contract assets, net$1,366 $1,435 
Noncurrent contract assets, net4 6 
Current contract liabilities2,866 2,852 
Noncurrent contract liabilities1,127 1,138 
In the three months ended March 29, 2025, the company recognized revenues of $1.36 billion that were included in the contract liabilities balance at December 31, 2024. In the three months ended March 30, 2024, the company recognized revenues of $1.32 billion that were included in the contract liabilities balance at December 31, 2023.
Remaining Performance Obligations
The aggregate amount of the transaction price allocated to the remaining performance obligations for all open customer contracts as of March 29, 2025, was $24.54 billion. The company will recognize revenues for these performance obligations as they are satisfied, approximately 54% 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.
v3.25.1
Debt and Other Financing Arrangements
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Debt and Other Financing Arrangements Debt and Other Financing Arrangements
The company’s debt and other financing arrangements are as follows:
Effective interest rate at March 29,March 29,December 31,
(Dollars in millions)202520252024
0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)
$— $828 
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)
2.07 %693 663 
0.853% 3-Year Senior Notes, Due 10/20/2025 (Japanese yen-denominated)
1.05 %149 142 
0.00% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated)
0.15 %596 569 
3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated)
3.38 %541 518 
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)
1.52 %758 725 
4.953% 3-Year Senior Notes, Due 8/10/2026
5.18 %600 600 
0.832% 1.5-Year Senior Notes, Due 9/7/2026 (Swiss franc-denominated)
1.15 %466 — 
5.00% 3-Year Senior Notes, Due 12/5/2026
5.25 %1,000 1,000 
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)
1.65 %541 518 
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)
1.96 %650 621 
1.054% 5-Year Senior Notes, Due 10/20/2027 (Japanese yen-denominated)
1.18 %193 184 
4.80% 5-Year Senior Notes, Due 11/21/2027
5.00 %600 600 
0.790% 3-Year Senior Notes, Due 1/6/2028 (Swiss franc-denominated)
1.39 %100 — 
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)
0.77 %866 828 
1.6525% 4-Year Senior Notes, Due 3/7/2028 (Swiss franc-denominated)
1.79 %375 364 
0.77% 5-Year Senior Notes, Due 9/6/2028 (Japanese yen-denominated)
0.90 %193 184 
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)
1.46 %650 621 
1.75% 7-Year Senior Notes, Due 10/15/2028
1.89 %700 700 
5.00% 5-Year Senior Notes, Due 1/31/2029
5.24 %1,000 1,000 
1.125% 4-Year Senior Notes, Due 3/7/2029 (Swiss franc-denominated)
1.26 %358 — 
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)
2.07 %758 725 
2.60% 10-Year Senior Notes, Due 10/1/2029
2.74 %900 900 
1.279% 7-Year Senior Notes, Due 10/19/2029 (Japanese yen-denominated)
1.44 %31 30 
1.120% 5-Year Senior Notes, Due 1/6/2030 (Swiss franc-denominated)
1.25 %266 — 
4.977% 7-Year Senior Notes, Due 8/10/2030
5.12 %750 750 
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)
0.88 %1,895 1,812 
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)
1.13 %975 932 
2.00% 10-Year Senior Notes, Due 10/15/2031
2.23 %1,200 1,200 
1.8401% 8-Year Senior Notes, Due 3/8/2032 (Swiss franc-denominated)
1.92 %471 457 
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)
2.54 %650 621 
1.49% 10-Year Senior Notes, Due 10/20/2032 (Japanese yen-denominated)
1.60 %42 40 
4.95% 10-Year Senior Notes, Due 11/21/2032
5.09 %600 600 
1.4175% 8-Year Senior Notes, Due 3/7/2033 (Swiss franc-denominated)
1.49 %397 — 
5.086% 10-Year Senior Notes, Due 8/10/2033
5.20 %1,000 1,000 
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)
1.20 %1,624 1,553 
5.20% 10-Year Senior Notes, Due 1/31/2034
5.34 %500 500 
3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated)
3.76 %812 777 
1.50% 12-Year Senior Notes, Due 9/6/2035 (Japanese yen-denominated)
1.58 %143 137 
2.0375% 12-Year Senior Notes, Due 3/7/2036 (Swiss franc-denominated)
2.10 %369 358 
1.520% 12-Year Senior Notes, Due 1/6/2037 (Swiss franc-denominated)
1.56 %353 — 
1.6524% 12-Year Senior Notes, Due 3/6/2037 (Swiss franc-denominated)
1.71 %244 — 
Effective interest rate at March 29,March 29,December 31,
(Dollars in millions)202520252024
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)
2.94 %758 725 
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)
1.73 %975 932 
2.80% 20-Year Senior Notes, Due 10/15/2041
2.90 %1,200 1,200 
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)
1.77 %1,354 1,294 
2.069% 20-Year Senior Notes, Due 10/20/2042 (Japanese yen-denominated)
2.13 %97 93 
5.404% 20-Year Senior Notes, Due 8/10/2043
5.50 %600 600 
2.02% 20-Year Senior Notes, Due 9/6/2043 (Japanese yen-denominated)
2.06 %193 184 
5.30% 30-Year Senior Notes, Due 2/1/2044
5.37 %400 400 
1.49% 20-Year Senior Notes, Due 1/6/2045 (Swiss franc-denominated)
1.54 %210 — 
1.8975% 20-Year Senior Notes, Due 3/7/2045 (Swiss franc-denominated)
1.95 %153 — 
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 %1,083 1,035 
1.47% 25-Year Senior Notes, Due 1/6/2050 (Swiss franc-denominated)
1.49 %371 — 
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)
2.07 %812 777 
2.382% 30-Year Senior Notes, Due 10/18/2052 (Japanese yen-denominated)
2.43 %222 212 
Other 74 73 
Total borrowings at par value
34,261 31,332 
Unamortized discount
(96)(95)
Unamortized debt issuance costs
(176)(164)
Total borrowings at carrying value
33,989 31,072 
Finance lease liabilities
200 202 
Less: Short-term obligations and current maturities
2,819 2,214 
Long-term obligations$31,370 $29,061 
The effective interest rates for the fixed-rate debt include the stated interest on the notes, the accretion of any discounts/premiums and the amortization of any debt issuance costs.
See Note 4 for fair value information pertaining to the company’s long-term borrowings.
Credit Facilities
The company has a 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 expires on January 7, 2027. The revolving credit agreement calls for interest at either a Term Secured Overnight Financing Rate (SOFR), a Euro Interbank Offered Rate (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 Net Interest Coverage Ratio of 3.5:1.0 as of the last day of any fiscal quarter. As of March 29, 2025, no borrowings were outstanding under the Facility, although available capacity was reduced by immaterial 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.
Senior Notes
Interest is payable annually on the euro and public Swiss franc-denominated fixed rate senior notes and semi-annually on all other senior notes. Each of the U.S. dollar and euro-denominated fixed rate senior notes, and Japanese yen-denominated and Swiss franc-denominated private placement notes may be redeemed at a redemption price of 100% of the principal amount plus a specified make-whole premium and accrued interest, together with swap breakage costs payable to holders of the Japanese yen-denominated and Swiss franc-denominated private placement notes who have entered into cross-currency swap agreements. The company is subject to certain affirmative and negative covenants under the indentures and note purchase agreement governing the senior notes, the most restrictive of which limits the ability of the company to pledge certain property and assets as security under borrowing arrangements. The company was in compliance with all covenants related to its senior notes at March 29, 2025.
Thermo Fisher Scientific (Finance I) B.V. (Thermo Fisher International), a wholly-owned finance subsidiary of the company, issued each of the following notes outstanding as of March 29, 2025, included in the table above (collectively, the “Euronotes”) in registered public offerings: 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. 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.
v3.25.1
Fair Value Measurements
 3 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair Value Measurements
The following tables present information about the company’s financial assets and liabilities measured at fair value on a recurring basis:
March 29,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs
(In millions)2025(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$1,161 $1,161 $— $— 
Bank time deposits1,810 1,810 — — 
Investments
50 19 — 31 
Insurance contracts
232 — 232 — 
Derivative contracts
354 — 354 — 
Total assets
$3,607 $2,990 $586 $31 
Liabilities
Derivative contracts
$72 $— $72 $— 
Contingent consideration
13 — — 13 
Total liabilities
$86 $— $72 $13 
December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs
(In millions)2024(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$1,103 $1,103 $— $— 
Bank time deposits1,560 1,560 — — 
Investments
39 18 — 21 
Insurance contracts
240 — 240 — 
Derivative contracts
460 — 460 — 
Total assets
$3,401 $2,680 $700 $21 
Liabilities
Derivative contracts
$59 $— $59 $— 
Contingent consideration
13 — — 13 
Total liabilities
$72 $— $59 $13 
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 values of contingent consideration are recorded in selling, general and administrative expense. The company determines the fair value of its equity method and non-marketable equity investments that are not eligible for the net asset value (NAV) practical expedient by considering factors such as financial position, operating results and cash flows of the investee; recent transactions in the same or similar securities; significant recent events affecting the investee; the price paid by Thermo Fisher; among others.
In the three-month periods ended March 29, 2025, and March 30, 2024, the company recorded $2 million and $10 million, respectively, of net gains/(losses) on investments, which are included in other income/(expense) in the accompanying statements of income.
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.
Three months ended
March 29,March 30,
(In millions)20252024
Contingent consideration
Beginning balance$13 $87 
Payments— (2)
Changes in fair value included in earnings1 (2)
Ending balance$13 $83 
The following table provides a rollforward of investments classified as level 3:
Three months ended
March 29,
(In millions)2025
Investments
Beginning balance$21 
Purchases11 
Ending balance$31 
Fair Value of Other Financial Instruments
The carrying value and fair value of the company’s debt instruments are as follows:
March 29, 2025December 31, 2024
CarryingFairCarryingFair
(In millions)valuevaluevaluevalue
Senior notes
$33,915 $31,116 $30,999 $28,454 
Other
74 74 73 73 
$33,989 $31,190 $31,072 $28,527 
The fair value of debt instruments, excluding private placement notes, 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. The fair value of private placement notes was determined based on internally developed pricing models and unobservable inputs, which represent level 3 measurements.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 29, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
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. At March 29, 2025, there have been no material changes to the accruals for pending environmental-related matters disclosed in the company’s 2024 financial statements and notes included in the company’s Annual Report on Form 10-K. 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 and 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. 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 in the company’s 2024 financial statements and notes included in the company’s Annual Report on Form 10-K, 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 such matters 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. At March 29, 2025, there have been no material changes to the accruals for pending product liability, workers compensation, and other personal injury matters disclosed in the company’s 2024 financial statements and notes included in the company’s Annual Report on Form 10-K. Although the company believes that the amounts accrued and estimated insurance 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.
v3.25.1
Supplemental Income Statement Information
 3 Months Ended
Mar. 29, 2025
Supplemental Income Statement Elements [Abstract]  
Supplemental Income Statement Information Supplemental Income Statement Information
Disaggregated Revenues
Revenues by type are as follows:
Three months ended
(In millions)March 29, 2025March 30, 2024
Revenues
Consumables
$4,354 $4,328 
Instruments
1,626 1,627 
Services
4,384 4,390 
Consolidated revenues$10,364 $10,345 
Revenues by geographic region based on customer location are as follows:
Three months ended
(In millions)March 29, 2025March 30, 2024
Revenues
North America
$5,513 $5,519 
Europe
2,624 2,619 
Asia-Pacific
1,891 1,861 
Other regions
337 346 
Consolidated revenues$10,364 $10,345 
Each reportable segment earns revenues from consumables, instruments and services in North America, Europe, Asia-Pacific and other regions.
Revenues by business are as follows:
Three months ended
(In millions)
March 29, 2025March 30, 2024
Revenues


Biosciences
$993 $1,059 
Genetic sciences
677 637 
BioProduction
671 590 
Life Sciences Solutions
2,341 2,285 
Chromatography and mass spectrometry
773 789 
Chemical analysis
286 320 
Electron microscopy
659 579 
Analytical Instruments
1,718 1,687 
Clinical diagnostics
263 263 
ImmunoDiagnostics
217 212 
Microbiology
152 153 
Transplant diagnostics
113 106 
Healthcare market channel
474 438 
Elimination of intrasegment revenues
(72)(63)
Specialty Diagnostics
1,148 1,109 
Laboratory products
582 624 
Research and safety market channel
1,727 1,711 
Pharma services
1,607 1,578 
Clinical research
1,939 2,033 
Elimination of intrasegment revenues
(214)(224)
Laboratory Products and Biopharma Services
5,640 5,723 
Elimination of intersegment revenues(482)(460)
Consolidated revenues$10,364 $10,345 
Restructuring and Other Costs
In the first three months of 2025, restructuring and other costs primarily included continuing charges for headcount reductions and facility consolidations in an effort to streamline operations, impairment of long-lived assets, and, to a lesser extent, net charges for pre-acquisition litigation and other matters. In 2025, severance actions associated with facility consolidations and cost reduction measures affected approximately 1% of the company’s workforce.
As of May 2, 2025, the company has identified restructuring actions, primarily in the Laboratory Products and Biopharma Services segment, that it expects will result in additional charges of approximately $120 million, primarily in 2025, and expects to identify additional actions in future periods.
Restructuring and other costs by segment are as follows:
Three months ended
(In millions)March 29, 2025
Life Sciences Solutions
$42 
Analytical Instruments
4 
Specialty Diagnostics
2 
Laboratory Products and Biopharma Services
45 
Corporate
5 
$98 
The following table summarizes the changes in the company’s accrued restructuring balance, which is included in other accrued expenses in the accompanying balance sheets. Other amounts reported as restructuring and other costs in the accompanying statements of income have been summarized in the notes to the table.
(In millions)Total (a)
Balance at December 31, 2024$50 
Net restructuring charges incurred in 2025 (b)
43 
Payments
(34)
Currency translation
1 
Balance at March 29, 2025$59 
(a)The movements in the restructuring liability principally consist of severance and other costs associated with facility consolidations.
(b)Excludes $55 million of net charges, principally $68 million of charges for impairment of long-lived assets in the Life Sciences Solutions and Laboratory Products and Biopharma Services segments.
The company expects to pay accrued restructuring costs primarily through 2025.
Earnings per Share
Three months ended
March 29,March 30,
(In millions except per share amounts)20252024
Net income attributable to Thermo Fisher Scientific Inc.$1,507 $1,328 
Basic weighted average shares378 382 
Plus effect of: stock options and restricted stock units1 2 
Diluted weighted average shares379 384 
Basic earnings per share$3.99 $3.47 
Diluted earnings per share$3.98 $3.46 
Antidilutive stock options excluded from diluted weighted average shares
3 2 
v3.25.1
Income Taxes
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The provision for income taxes in the accompanying statements of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following:
Three months ended
(In millions)March 29, 2025March 30, 2024
Statutory federal income tax rate21 %21 %
Provision for income taxes at statutory rate$340 $334 
Increases (decreases) resulting from:
Foreign rate differential(30)(38)
Income tax credits(45)(89)
Global intangible low-taxed income10 12 
Foreign-derived intangible income(27)(22)
Excess tax benefits from stock options and restricted stock units(10)(33)
Provision for (reversal of) tax reserves, net(28)185 
Intra-entity transfers— (102)
Domestication transaction(125)— 
Provision for (reversal of) valuation allowances, net(12)47 
Withholding taxes3 4 
Tax return reassessments and settlements3 (29)
State income taxes, net of federal tax14 19 
Other, net2 (6)
Provision for/(benefit from) income taxes$95 $281 
During the first quarter of 2025, the company recorded a deferred tax benefit of $125 million resulting from the recognition of a tax attribute related to a domestication transaction.
During the first quarter of 2024, the company recorded a tax reserve and associated interest of $240 million related to the potential settlement of international tax audits for tax years 2009 through 2016, which were settled during 2024.
The company has operations and a taxable presence in approximately 70 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.
Unrecognized Tax Benefits
As of March 29, 2025, the company had $0.53 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)2025
Balance at beginning of year
$525 
Additions for tax positions of current year
8 
Reductions for tax positions of prior years
(8)
Balance at end of period
$525 
v3.25.1
Comprehensive Income/(Loss) and Shareholders' Equity
 3 Months Ended
Mar. 29, 2025
Stockholders' Equity Note [Abstract]  
Comprehensive Income/(Loss) and Shareholders' Equity Comprehensive Income/(Loss) and Shareholders' Equity
Comprehensive Income/(Loss)
Changes in each component of accumulated other comprehensive income/(loss), net of tax, are as follows:
(In millions)Currency
translation
adjustment		Unrealized
gains/(losses) on
hedging
instruments		Pension and
other
postretirement
benefit
liability
adjustment		Total
Three months ended March 29, 2025
Balance at December 31, 2024$(2,409)$(25)$(263)$(2,697)
Other comprehensive income/(loss) before reclassifications
360 — (3)357 
Amounts reclassified from accumulated other comprehensive income/(loss)
(4)1 1 (3)
Net other comprehensive income/(loss)
356 1 (3)354 
Balance at March 29, 2025$(2,053)$(24)$(265)$(2,343)
v3.25.1
Supplemental Cash Flow Information
 3 Months Ended
Mar. 29, 2025
Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
 Three months ended
(In millions)March 29, 2025March 30, 2024
Non-cash investing and financing activities
Acquired but unpaid property, plant and equipment
$173 $165 
Declared but unpaid dividends
164 150 
Issuance of stock upon vesting of restricted stock units
65 63 
Excise tax from stock repurchases
18 29 
Cash, cash equivalents and restricted cash is included in the accompanying balance sheet as follows:
(In millions)March 29, 2025December 31, 2024
Cash and cash equivalents$4,134 $4,009 
Restricted cash included in other current assets16 10 
Restricted cash included in other assets22 21 
Cash, cash equivalents and restricted cash$4,172 $4,040 
Amounts included in restricted cash primarily represent funds held as collateral for bank guarantees, pension related deposits, and incoming cash in China awaiting government administrative clearance.
v3.25.1
Derivatives
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
Derivative Contracts
The following table provides the aggregate notional value of outstanding derivative contracts.
(In millions)March 29, 2025December 31, 2024
Notional amount
Cross-currency interest rate swaps designated as net investment hedge - euro$1,000 $1,000 
Cross-currency interest rate swaps designated as net investment hedge - Japanese yen4,650 4,650 
Cross-currency interest rate swaps designated as net investment hedge - Swiss franc2,500 2,500 
Currency exchange contracts1,412 1,588 
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 sheets and statements of income.
 Fair value – assetsFair value – liabilities
 March 29,December 31,March 29,December 31,
(In millions)2025202420252024
Derivatives designated as hedging instruments
Cross-currency interest rate swaps
$352 $458 $70 $57 
Derivatives not designated as hedging instruments
Currency exchange contracts
1 2 2 2 
Total derivatives$354 $460 $72 $59 

 Gain/(loss) recognized
Three months ended
March 29,March 30,
(In millions)20252024
Derivatives designated as cash flow hedges
Interest rate swaps
Amount reclassified from accumulated other comprehensive items to interest expense$(1)$(1)
Financial instruments designated as net investment hedges
Foreign currency-denominated debt and other payables
Included in currency translation adjustment within other comprehensive income/(loss)
(450)275 
Cross-currency interest rate swaps
Included in currency translation adjustment within other comprehensive income/(loss)
(119)444 
Included in interest expense
68 66 
Derivatives not designated as hedging instruments
Currency exchange contracts
Included in cost of product revenues
1 3 
Included in other income/(expense)
10 (6)
Gains and losses recognized on currency exchange contracts are included in the accompanying statements of income together with the corresponding, offsetting losses and gains on the underlying hedged transactions.
The company uses foreign currency-denominated debt, certain foreign currency-denominated payables, 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, certain foreign currency-denominated payables, 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 certain foreign currency-denominated payables, 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.
The fair value of the cross-currency interest rate swaps is included in the accompanying balance sheets under the caption other assets or other long-term liabilities. The fair value of the currency exchange contracts is included in the accompanying balance sheets under the captions other current assets or other accrued expenses.
See Note 1 to the consolidated financial statements for 2024 included in the company’s Annual Report on Form 10-K for additional information on the company’s risk management objectives and strategies.
v3.25.1
Business Segment Information
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Business Segment Information
The company’s financial performance is reported in four segments. During 2025, there have been no changes to the company’s basis of segmentation or in the basis of measurement of segment income. Other segment items included in the below tables consist of stock-based compensation and other incentive compensation expenses, allocations of corporate expenses and certain overhead expenses as well as elimination of intersegment and intrasegment profits. Prior period segment expense amounts have been recast to reflect the method for allocating expenses to segments in the current period.
2025
Three months ended March 29, 2025
(In millions)Life Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesTotal
Revenues
Revenues from external customers$1,954 $1,677 $1,130 $5,603 $10,364 
Intersegment revenues387 41 18 37 482 
2,341 1,718 1,148 5,640 10,846 
Elimination of intersegment revenues
(482)
Consolidated revenues
$10,364 
Segment Income
Cost of revenues856 836 679 4,424 
Selling, general, and administrative expenses470 314 171 592 
Research and development expenses137 137 45 13 
Other segment items44 31 (51)(120)
Segment income
834 399 304 731 2,269 
Unallocated amounts
Cost of revenues adjustments
(11)
Selling, general and administrative expenses adjustments
(14)
Restructuring and other costs
(98)
Amortization of acquisition-related intangible assets
(429)
Interest income203 
Interest expense(303)
Other income/(expense)
3 
Consolidated income before income taxes$1,620 
(In millions)Unallocated amountsLife Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesConsolidated
Segment assets$85,272 $3,018 $2,986 $1,298 $6,467 $99,041 
Purchases of property, plant and equipment36 43 44 33 205 362 
Depreciation of property, plant and equipment— 59 24 22 172 276 
2024
Three months ended March 30, 2024
(In millions)Life Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesTotal
Revenues
Revenues from external customers$1,930 $1,629 $1,099 $5,686 $10,345 
Intersegment revenues355 58 10 37 460 
2,285 1,687 1,109 5,723 10,805 
Elimination of intersegment revenues
(460)
Consolidated revenues$10,345 
Segment Income
Cost of revenues821 799 628 4,500 
Selling, general, and administrative expenses431 318 187 585 
Research and development expenses132 132 40 17 
Other segment items61 39 (40)(123)
Segment income
840 400 294 744 2,278 
Unallocated amounts
Cost of revenues adjustments
(15)
Selling, general and administrative expenses adjustments
(19)
Restructuring and other costs
(29)
Amortization of acquisition-related intangible assets
(551)
Interest income279 
Interest expense(363)
Other income/(expense)
10 
Consolidated income before income taxes$1,589 
(In millions)Unallocated amountsLife Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesConsolidated
Segment assets$83,908 $3,114 $2,671 $1,179 $6,223 $97,095 
Purchases of property, plant and equipment24 25 27 32 240 347 
Depreciation of property, plant and equipment— 56 25 22 183 285 
v3.25.1
Acquisitions
 3 Months Ended
Mar. 29, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
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 workforces. 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 services; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products and services.
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.
Pending Acquisition
The company has entered into an agreement with Solventum Corporation to acquire its Purification & Filtration business for approximately $4.1 billion in cash. Solventum’s Purification & Filtration business is a leading provider of purification and filtration technologies used in the production of biologics as well as in medical technologies and industrial applications. The transaction, which is expected to be completed by the end of 2025, is subject to customary closing conditions, including regulatory approvals. Upon completion, Solventum’s Purification & Filtration business will become part of the Life Sciences Solutions segment.
2024
On July 10, 2024, the company acquired, within the Life Sciences Solutions segment, Olink Holding AB (publ), a Swedish-based provider of next-generation proteomics solutions. The acquisition enhances the segment’s capabilities in the high-growth proteomics market with the addition of highly differentiated solutions. It also complements the existing life sciences and mass spectrometry offerings, accelerating protein biomarker discovery and providing strong synergy opportunities. The goodwill recorded as a result of this business combination is not tax deductible.
The components of the purchase price and net assets acquired are as follows:
(In millions)Olink
Purchase price
Cash paid
$3,215 
Purchase price payable
28 
Cash acquired
(97)
$3,146 
Net assets acquired
Definite-lived intangible assets
Customer relationships
$708 
Product technology
207 
Tradenames
97 
Goodwill
2,302 
Net tangible assets
8 
Deferred tax assets (liabilities)
(176)
$3,146 
The weighted-average amortization periods for definite-lived intangible assets acquired in 2024 are 19 years for customer relationships, 15 years for product technology, and 15 years for tradenames. The weighted-average amortization period for definite-lived intangible assets acquired in 2024 is 18 years.
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Gianluca Pettiti [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On February 10, 2025, Gianluca Pettiti, an executive vice president, adopted a trading plan intended to satisfy the conditions under Rule 10b5-1(c) of the Exchange Act. Mr. Pettiti’s plan is for the sale of up to 1,200 shares of company stock, and the exercise of vested stock options and the associated sale of up to 2,975 shares of company common stock, through December 12, 2025. The foregoing exercises and sales will be made in accordance with the prices and formulas set forth in the plan and such plan terminates on the earlier of the date all the shares under the plan are sold and December 12, 2025.
Name Gianluca Pettiti
Title executive vice president
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 10, 2025
Expiration Date December 12, 2025
Arrangement Duration 305 days
Gianluca Pettiti Trading Arrangement, Common Stock [Member] | Gianluca Pettiti [Member]  
Trading Arrangements, by Individual  
Aggregate Available 1,200
Gianluca Pettiti Trading Arrangement, Vested Stock Options [Member] | Gianluca Pettiti [Member]  
Trading Arrangements, by Individual  
Aggregate Available 2,975
v3.25.1
Nature of Operations and Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Use of Estimates
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. Actual results could differ from those estimates.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
The following table provides a description of recent accounting pronouncements adopted and those standards not yet adopted with potential for a material impact on the company's financial statements or disclosures.
StandardDescriptionRequired adoption timing and approachImpact of adoption or other significant matters
Standards recently adopted
ASU No. 2022-04, Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations
New guidance to disclose information about supplier finance programs. Among other things, the new guidance requires expanded disclosure about key program terms, payment terms, and amounts outstanding for obligations under supplier finance programs for each period presented.
Some aspects adopted in 2023 using a retrospective method and other aspects adopted in 2024 using a prospective method Not material
ASU No. 2023-07, Segment Reporting (Topic 280): Improving Reportable Segment Disclosures Among other things, new guidance to disclose significant segment expenses and other items by reportable segment as well as information about the chief operating decision maker.2024 annual report and interim periods thereafter using a retrospective methodIncreased disclosures in Note 11
Standards not yet adopted
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax DisclosuresAmong other things, new guidance to disclose additional information about the tax rate reconciliation and income taxes paid.2025 annual report and interim periods thereafter using a prospective or retrospective methodWill increase disclosures in Note 7
ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesNew guidance to disclose specified information about certain costs and expenses.2027 annual report and interim periods thereafter using a prospective or retrospective methodWill increase disclosures in Note 6
Acquisitions
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 workforces. 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 services; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products and services.
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.
v3.25.1
Supplemental Balance Sheet Information (Tables)
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Components of Inventories
The components of inventories are as follows:
(In millions)March 29, 2025December 31, 2024
Raw materials$1,862 $1,803 
Work in process874 755 
Finished goods2,488 2,420 
Inventories$5,224 $4,978 
Schedule of Contract Asset and Liability Balances
Contract asset and liability balances are as follows:
(In millions)March 29, 2025December 31, 2024
Current contract assets, net$1,366 $1,435 
Noncurrent contract assets, net4 6 
Current contract liabilities2,866 2,852 
Noncurrent contract liabilities1,127 1,138 
v3.25.1
Debt and Other Financing Arrangements (Tables)
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
The company’s debt and other financing arrangements are as follows:
Effective interest rate at March 29,March 29,December 31,
(Dollars in millions)202520252024
0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)
$— $828 
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)
2.07 %693 663 
0.853% 3-Year Senior Notes, Due 10/20/2025 (Japanese yen-denominated)
1.05 %149 142 
0.00% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated)
0.15 %596 569 
3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated)
3.38 %541 518 
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)
1.52 %758 725 
4.953% 3-Year Senior Notes, Due 8/10/2026
5.18 %600 600 
0.832% 1.5-Year Senior Notes, Due 9/7/2026 (Swiss franc-denominated)
1.15 %466 — 
5.00% 3-Year Senior Notes, Due 12/5/2026
5.25 %1,000 1,000 
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)
1.65 %541 518 
1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)
1.96 %650 621 
1.054% 5-Year Senior Notes, Due 10/20/2027 (Japanese yen-denominated)
1.18 %193 184 
4.80% 5-Year Senior Notes, Due 11/21/2027
5.00 %600 600 
0.790% 3-Year Senior Notes, Due 1/6/2028 (Swiss franc-denominated)
1.39 %100 — 
0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)
0.77 %866 828 
1.6525% 4-Year Senior Notes, Due 3/7/2028 (Swiss franc-denominated)
1.79 %375 364 
0.77% 5-Year Senior Notes, Due 9/6/2028 (Japanese yen-denominated)
0.90 %193 184 
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)
1.46 %650 621 
1.75% 7-Year Senior Notes, Due 10/15/2028
1.89 %700 700 
5.00% 5-Year Senior Notes, Due 1/31/2029
5.24 %1,000 1,000 
1.125% 4-Year Senior Notes, Due 3/7/2029 (Swiss franc-denominated)
1.26 %358 — 
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)
2.07 %758 725 
2.60% 10-Year Senior Notes, Due 10/1/2029
2.74 %900 900 
1.279% 7-Year Senior Notes, Due 10/19/2029 (Japanese yen-denominated)
1.44 %31 30 
1.120% 5-Year Senior Notes, Due 1/6/2030 (Swiss franc-denominated)
1.25 %266 — 
4.977% 7-Year Senior Notes, Due 8/10/2030
5.12 %750 750 
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)
0.88 %1,895 1,812 
0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)
1.13 %975 932 
2.00% 10-Year Senior Notes, Due 10/15/2031
2.23 %1,200 1,200 
1.8401% 8-Year Senior Notes, Due 3/8/2032 (Swiss franc-denominated)
1.92 %471 457 
2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)
2.54 %650 621 
1.49% 10-Year Senior Notes, Due 10/20/2032 (Japanese yen-denominated)
1.60 %42 40 
4.95% 10-Year Senior Notes, Due 11/21/2032
5.09 %600 600 
1.4175% 8-Year Senior Notes, Due 3/7/2033 (Swiss franc-denominated)
1.49 %397 — 
5.086% 10-Year Senior Notes, Due 8/10/2033
5.20 %1,000 1,000 
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)
1.20 %1,624 1,553 
5.20% 10-Year Senior Notes, Due 1/31/2034
5.34 %500 500 
3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated)
3.76 %812 777 
1.50% 12-Year Senior Notes, Due 9/6/2035 (Japanese yen-denominated)
1.58 %143 137 
2.0375% 12-Year Senior Notes, Due 3/7/2036 (Swiss franc-denominated)
2.10 %369 358 
1.520% 12-Year Senior Notes, Due 1/6/2037 (Swiss franc-denominated)
1.56 %353 — 
1.6524% 12-Year Senior Notes, Due 3/6/2037 (Swiss franc-denominated)
1.71 %244 — 
Effective interest rate at March 29,March 29,December 31,
(Dollars in millions)202520252024
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)
2.94 %758 725 
1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)
1.73 %975 932 
2.80% 20-Year Senior Notes, Due 10/15/2041
2.90 %1,200 1,200 
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)
1.77 %1,354 1,294 
2.069% 20-Year Senior Notes, Due 10/20/2042 (Japanese yen-denominated)
2.13 %97 93 
5.404% 20-Year Senior Notes, Due 8/10/2043
5.50 %600 600 
2.02% 20-Year Senior Notes, Due 9/6/2043 (Japanese yen-denominated)
2.06 %193 184 
5.30% 30-Year Senior Notes, Due 2/1/2044
5.37 %400 400 
1.49% 20-Year Senior Notes, Due 1/6/2045 (Swiss franc-denominated)
1.54 %210 — 
1.8975% 20-Year Senior Notes, Due 3/7/2045 (Swiss franc-denominated)
1.95 %153 — 
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 %1,083 1,035 
1.47% 25-Year Senior Notes, Due 1/6/2050 (Swiss franc-denominated)
1.49 %371 — 
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)
2.07 %812 777 
2.382% 30-Year Senior Notes, Due 10/18/2052 (Japanese yen-denominated)
2.43 %222 212 
Other 74 73 
Total borrowings at par value
34,261 31,332 
Unamortized discount
(96)(95)
Unamortized debt issuance costs
(176)(164)
Total borrowings at carrying value
33,989 31,072 
Finance lease liabilities
200 202 
Less: Short-term obligations and current maturities
2,819 2,214 
Long-term obligations$31,370 $29,061 
v3.25.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Schedule of Information About the Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present information about the company’s financial assets and liabilities measured at fair value on a recurring basis:
March 29,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs
(In millions)2025(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$1,161 $1,161 $— $— 
Bank time deposits1,810 1,810 — — 
Investments
50 19 — 31 
Insurance contracts
232 — 232 — 
Derivative contracts
354 — 354 — 
Total assets
$3,607 $2,990 $586 $31 
Liabilities
Derivative contracts
$72 $— $72 $— 
Contingent consideration
13 — — 13 
Total liabilities
$86 $— $72 $13 
December 31,Quoted
prices in
active
markets		Significant
other
observable
inputs		Significant
unobservable
inputs
(In millions)2024(Level 1)(Level 2)(Level 3)
Assets
Cash equivalents
$1,103 $1,103 $— $— 
Bank time deposits1,560 1,560 — — 
Investments
39 18 — 21 
Insurance contracts
240 — 240 — 
Derivative contracts
460 — 460 — 
Total assets
$3,401 $2,680 $700 $21 
Liabilities
Derivative contracts
$59 $— $59 $— 
Contingent consideration
13 — — 13 
Total liabilities
$72 $— $59 $13 
Schedule of Fair Value of Investments
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.
Three months ended
March 29,March 30,
(In millions)20252024
Contingent consideration
Beginning balance$13 $87 
Payments— (2)
Changes in fair value included in earnings1 (2)
Ending balance$13 $83 
The following table provides a rollforward of investments classified as level 3:
Three months ended
March 29,
(In millions)2025
Investments
Beginning balance$21 
Purchases11 
Ending balance$31 
Schedule of the Fair Value of the Company's Debt Instruments
The carrying value and fair value of the company’s debt instruments are as follows:
March 29, 2025December 31, 2024
CarryingFairCarryingFair
(In millions)valuevaluevaluevalue
Senior notes
$33,915 $31,116 $30,999 $28,454 
Other
74 74 73 73 
$33,989 $31,190 $31,072 $28,527 
Schedule of the Carrying Value of the Company's Debt Instruments
The carrying value and fair value of the company’s debt instruments are as follows:
March 29, 2025December 31, 2024
CarryingFairCarryingFair
(In millions)valuevaluevaluevalue
Senior notes
$33,915 $31,116 $30,999 $28,454 
Other
74 74 73 73 
$33,989 $31,190 $31,072 $28,527 
v3.25.1
Supplemental Income Statement Information (Tables)
 3 Months Ended
Mar. 29, 2025
Supplemental Income Statement Elements [Abstract]  
Schedule of Disaggregated Revenues
Revenues by type are as follows:
Three months ended
(In millions)March 29, 2025March 30, 2024
Revenues
Consumables
$4,354 $4,328 
Instruments
1,626 1,627 
Services
4,384 4,390 
Consolidated revenues$10,364 $10,345 
Revenues by geographic region based on customer location are as follows:
Three months ended
(In millions)March 29, 2025March 30, 2024
Revenues
North America
$5,513 $5,519 
Europe
2,624 2,619 
Asia-Pacific
1,891 1,861 
Other regions
337 346 
Consolidated revenues$10,364 $10,345 
Revenues by business are as follows:
Three months ended
(In millions)
March 29, 2025March 30, 2024
Revenues


Biosciences
$993 $1,059 
Genetic sciences
677 637 
BioProduction
671 590 
Life Sciences Solutions
2,341 2,285 
Chromatography and mass spectrometry
773 789 
Chemical analysis
286 320 
Electron microscopy
659 579 
Analytical Instruments
1,718 1,687 
Clinical diagnostics
263 263 
ImmunoDiagnostics
217 212 
Microbiology
152 153 
Transplant diagnostics
113 106 
Healthcare market channel
474 438 
Elimination of intrasegment revenues
(72)(63)
Specialty Diagnostics
1,148 1,109 
Laboratory products
582 624 
Research and safety market channel
1,727 1,711 
Pharma services
1,607 1,578 
Clinical research
1,939 2,033 
Elimination of intrasegment revenues
(214)(224)
Laboratory Products and Biopharma Services
5,640 5,723 
Elimination of intersegment revenues(482)(460)
Consolidated revenues$10,364 $10,345 
Schedule of Restructuring and Other Costs by Segment
Restructuring and other costs by segment are as follows:
Three months ended
(In millions)March 29, 2025
Life Sciences Solutions
$42 
Analytical Instruments
4 
Specialty Diagnostics
2 
Laboratory Products and Biopharma Services
45 
Corporate
5 
$98 
Schedule of Changes in the Company's Accrued Restructuring Balance
The following table summarizes the changes in the company’s accrued restructuring balance, which is included in other accrued expenses in the accompanying balance sheets. Other amounts reported as restructuring and other costs in the accompanying statements of income have been summarized in the notes to the table.
(In millions)Total (a)
Balance at December 31, 2024$50 
Net restructuring charges incurred in 2025 (b)
43 
Payments
(34)
Currency translation
1 
Balance at March 29, 2025$59 
(a)The movements in the restructuring liability principally consist of severance and other costs associated with facility consolidations.
(b)Excludes $55 million of net charges, principally $68 million of charges for impairment of long-lived assets in the Life Sciences Solutions and Laboratory Products and Biopharma Services segments.
Schedule of Earnings Per Share
Three months ended
March 29,March 30,
(In millions except per share amounts)20252024
Net income attributable to Thermo Fisher Scientific Inc.$1,507 $1,328 
Basic weighted average shares378 382 
Plus effect of: stock options and restricted stock units1 2 
Diluted weighted average shares379 384 
Basic earnings per share$3.99 $3.47 
Diluted earnings per share$3.98 $3.46 
Antidilutive stock options excluded from diluted weighted average shares
3 2 
v3.25.1
Income Taxes (Tables)
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The provision for income taxes in the accompanying statements of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following:
Three months ended
(In millions)March 29, 2025March 30, 2024
Statutory federal income tax rate21 %21 %
Provision for income taxes at statutory rate$340 $334 
Increases (decreases) resulting from:
Foreign rate differential(30)(38)
Income tax credits(45)(89)
Global intangible low-taxed income10 12 
Foreign-derived intangible income(27)(22)
Excess tax benefits from stock options and restricted stock units(10)(33)
Provision for (reversal of) tax reserves, net(28)185 
Intra-entity transfers— (102)
Domestication transaction(125)— 
Provision for (reversal of) valuation allowances, net(12)47 
Withholding taxes3 4 
Tax return reassessments and settlements3 (29)
State income taxes, net of federal tax14 19 
Other, net2 (6)
Provision for/(benefit from) income taxes$95 $281 
Schedule of Reconciliation of Unrecognized Tax Benefits A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
(In millions)2025
Balance at beginning of year
$525 
Additions for tax positions of current year
8 
Reductions for tax positions of prior years
(8)
Balance at end of period
$525 
v3.25.1
Comprehensive Income/(Loss) and Shareholders' Equity (Tables)
 3 Months Ended
Mar. 29, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Changes in Each Component of Accumulated Other Comprehensive Items
Changes in each component of accumulated other comprehensive income/(loss), net of tax, are as follows:
(In millions)Currency
translation
adjustment		Unrealized
gains/(losses) on
hedging
instruments		Pension and
other
postretirement
benefit
liability
adjustment		Total
Three months ended March 29, 2025
Balance at December 31, 2024$(2,409)$(25)$(263)$(2,697)
Other comprehensive income/(loss) before reclassifications
360 — (3)357 
Amounts reclassified from accumulated other comprehensive income/(loss)
(4)1 1 (3)
Net other comprehensive income/(loss)
356 1 (3)354 
Balance at March 29, 2025$(2,053)$(24)$(265)$(2,343)
v3.25.1
Supplemental Cash Flow Information (Tables)
 3 Months Ended
Mar. 29, 2025
Supplemental Cash Flow Information [Abstract]  
Schedule of Supplemental Cash Flow Information
 Three months ended
(In millions)March 29, 2025March 30, 2024
Non-cash investing and financing activities
Acquired but unpaid property, plant and equipment
$173 $165 
Declared but unpaid dividends
164 150 
Issuance of stock upon vesting of restricted stock units
65 63 
Excise tax from stock repurchases
18 29 
Schedule of Cash, Cash Equivalents and Restricted Cash
Cash, cash equivalents and restricted cash is included in the accompanying balance sheet as follows:
(In millions)March 29, 2025December 31, 2024
Cash and cash equivalents$4,134 $4,009 
Restricted cash included in other current assets16 10 
Restricted cash included in other assets22 21 
Cash, cash equivalents and restricted cash$4,172 $4,040 
v3.25.1
Derivatives (Tables)
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of the Aggregate Notional Value of Outstanding Derivative Contracts
The following table provides the aggregate notional value of outstanding derivative contracts.
(In millions)March 29, 2025December 31, 2024
Notional amount
Cross-currency interest rate swaps designated as net investment hedge - euro$1,000 $1,000 
Cross-currency interest rate swaps designated as net investment hedge - Japanese yen4,650 4,650 
Cross-currency interest rate swaps designated as net investment hedge - Swiss franc2,500 2,500 
Currency exchange contracts1,412 1,588 
Schedule of the Fair Value of Derivative Instruments
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 sheets and statements of income.
 Fair value – assetsFair value – liabilities
 March 29,December 31,March 29,December 31,
(In millions)2025202420252024
Derivatives designated as hedging instruments
Cross-currency interest rate swaps
$352 $458 $70 $57 
Derivatives not designated as hedging instruments
Currency exchange contracts
1 2 2 2 
Total derivatives$354 $460 $72 $59 
Schedule of Derivative Instruments Gains and Losses
 Gain/(loss) recognized
Three months ended
March 29,March 30,
(In millions)20252024
Derivatives designated as cash flow hedges
Interest rate swaps
Amount reclassified from accumulated other comprehensive items to interest expense$(1)$(1)
Financial instruments designated as net investment hedges
Foreign currency-denominated debt and other payables
Included in currency translation adjustment within other comprehensive income/(loss)
(450)275 
Cross-currency interest rate swaps
Included in currency translation adjustment within other comprehensive income/(loss)
(119)444 
Included in interest expense
68 66 
Derivatives not designated as hedging instruments
Currency exchange contracts
Included in cost of product revenues
1 3 
Included in other income/(expense)
10 (6)
v3.25.1
Business Segment Information (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Schedule of Business Segment Information
2025
Three months ended March 29, 2025
(In millions)Life Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesTotal
Revenues
Revenues from external customers$1,954 $1,677 $1,130 $5,603 $10,364 
Intersegment revenues387 41 18 37 482 
2,341 1,718 1,148 5,640 10,846 
Elimination of intersegment revenues
(482)
Consolidated revenues
$10,364 
Segment Income
Cost of revenues856 836 679 4,424 
Selling, general, and administrative expenses470 314 171 592 
Research and development expenses137 137 45 13 
Other segment items44 31 (51)(120)
Segment income
834 399 304 731 2,269 
Unallocated amounts
Cost of revenues adjustments
(11)
Selling, general and administrative expenses adjustments
(14)
Restructuring and other costs
(98)
Amortization of acquisition-related intangible assets
(429)
Interest income203 
Interest expense(303)
Other income/(expense)
3 
Consolidated income before income taxes$1,620 
(In millions)Unallocated amountsLife Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesConsolidated
Segment assets$85,272 $3,018 $2,986 $1,298 $6,467 $99,041 
Purchases of property, plant and equipment36 43 44 33 205 362 
Depreciation of property, plant and equipment— 59 24 22 172 276 
2024
Three months ended March 30, 2024
(In millions)Life Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesTotal
Revenues
Revenues from external customers$1,930 $1,629 $1,099 $5,686 $10,345 
Intersegment revenues355 58 10 37 460 
2,285 1,687 1,109 5,723 10,805 
Elimination of intersegment revenues
(460)
Consolidated revenues$10,345 
Segment Income
Cost of revenues821 799 628 4,500 
Selling, general, and administrative expenses431 318 187 585 
Research and development expenses132 132 40 17 
Other segment items61 39 (40)(123)
Segment income
840 400 294 744 2,278 
Unallocated amounts
Cost of revenues adjustments
(15)
Selling, general and administrative expenses adjustments
(19)
Restructuring and other costs
(29)
Amortization of acquisition-related intangible assets
(551)
Interest income279 
Interest expense(363)
Other income/(expense)
10 
Consolidated income before income taxes$1,589 
(In millions)Unallocated amountsLife Sciences SolutionsAnalytical InstrumentsSpecialty DiagnosticsLaboratory Products and Biopharma ServicesConsolidated
Segment assets$83,908 $3,114 $2,671 $1,179 $6,223 $97,095 
Purchases of property, plant and equipment24 25 27 32 240 347 
Depreciation of property, plant and equipment— 56 25 22 183 285 
v3.25.1
Acquisitions (Tables)
 3 Months Ended
Mar. 29, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Components of Purchase Price and Net Assets Acquired
The components of the purchase price and net assets acquired are as follows:
(In millions)Olink
Purchase price
Cash paid
$3,215 
Purchase price payable
28 
Cash acquired
(97)
$3,146 
Net assets acquired
Definite-lived intangible assets
Customer relationships
$708 
Product technology
207 
Tradenames
97 
Goodwill
2,302 
Net tangible assets
8 
Deferred tax assets (liabilities)
(176)
$3,146 
v3.25.1
Supplemental Balance Sheet Information - Schedule of Components of Inventories (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Raw materials $ 1,862 $ 1,803
Work in process 874 755
Finished goods 2,488 2,420
Inventories $ 5,224 $ 4,978
v3.25.1
Supplemental Balance Sheet Information - Schedule of Contract Asset and Liability Balances (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Current contract assets, net $ 1,366 $ 1,435
Noncurrent contract assets, net 4 6
Current contract liabilities 2,866 2,852
Noncurrent contract liabilities $ 1,127 $ 1,138
v3.25.1
Supplemental Balance Sheet Information - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Revenue recognized $ 1,360 $ 1,320
Remaining performance obligation amount $ 24,540  
Minimum    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Warranty agreement (in years) 3 years  
Maximum    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Warranty agreement (in years) 5 years  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-30    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation percentage 54.00%  
Remaining performance obligation, expected timing 12 months  
v3.25.1
Debt and Other Financing Arrangements - Schedule of Outstanding Debt (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total borrowings at par value $ 34,261 $ 31,332
Unamortized discount (96) (95)
Unamortized debt issuance costs (176) (164)
Total borrowings at carrying value 33,989 31,072
Finance lease liabilities 200 202
Less: Short-term obligations and current maturities 2,819 2,214
Long-term obligations 31,370 29,061
Senior Notes    
Debt Instrument [Line Items]    
Total borrowings at carrying value $ 33,915 30,999
Senior Notes | 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.125%  
Term 5 years 6 months  
Total borrowings at par value   828
Senior Notes | 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 2.00%  
Term 10 years  
Effective interest rate 2.07%  
Total borrowings at par value $ 693 663
Senior Notes | 0.853% 3-Year Senior Notes, Due 10/20/2025 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.853%  
Term 3 years  
Effective interest rate 1.05%  
Total borrowings at par value $ 149 142
Senior Notes | 0.00% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.00%  
Term 4 years  
Effective interest rate 0.15%  
Total borrowings at par value $ 596 569
Senior Notes | 3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 3.20%  
Term 3 years  
Effective interest rate 3.38%  
Total borrowings at par value $ 541 518
Senior Notes | 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.40%  
Term 8 years 6 months  
Effective interest rate 1.52%  
Total borrowings at par value $ 758 725
Senior Notes | 4.953% 3-Year Senior Notes, Due 8/10/2026    
Debt Instrument [Line Items]    
Interest rate 4.953%  
Term 3 years  
Effective interest rate 5.18%  
Total borrowings at par value $ 600 600
Senior Notes | 0.832% 1.5-Year Senior Notes, Due 9/7/2026 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.832%  
Term 1 year 6 months  
Effective interest rate 1.15%  
Total borrowings at par value $ 466 0
Senior Notes | 5.00% 3-Year Senior Notes, Due 12/5/2026    
Debt Instrument [Line Items]    
Interest rate 5.00%  
Term 3 years  
Effective interest rate 5.25%  
Total borrowings at par value $ 1,000 1,000
Senior Notes | 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.45%  
Term 10 years  
Effective interest rate 1.65%  
Total borrowings at par value $ 541 518
Senior Notes | 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.75%  
Term 7 years  
Effective interest rate 1.96%  
Total borrowings at par value $ 650 621
Senior Notes | 1.054% 5-Year Senior Notes, Due 10/20/2027 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.054%  
Term 5 years  
Effective interest rate 1.18%  
Total borrowings at par value $ 193 184
Senior Notes | 4.80% 5-Year Senior Notes, Due 11/21/2027    
Debt Instrument [Line Items]    
Interest rate 4.80%  
Term 5 years  
Effective interest rate 5.00%  
Total borrowings at par value $ 600 600
Senior Notes | 0.790% 3-Year Senior Notes, Due 1/6/2028 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.79%  
Term 3 years  
Effective interest rate 1.39%  
Total borrowings at par value $ 100 0
Senior Notes | 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.50%  
Term 8 years 6 months  
Effective interest rate 0.77%  
Total borrowings at par value $ 866 828
Senior Notes | 1.6525% 4-Year Senior Notes, Due 3/7/2028 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.6525%  
Term 4 years  
Effective interest rate 1.79%  
Total borrowings at par value $ 375 364
Senior Notes | 0.77% 5-Year Senior Notes, Due 9/6/2028 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.77%  
Term 5 years  
Effective interest rate 0.90%  
Total borrowings at par value $ 193 184
Senior Notes | 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.375%  
Term 12 years  
Effective interest rate 1.46%  
Total borrowings at par value $ 650 621
Senior Notes | 1.75% 7-Year Senior Notes, Due 10/15/2028    
Debt Instrument [Line Items]    
Interest rate 1.75%  
Term 7 years  
Effective interest rate 1.89%  
Total borrowings at par value $ 700 700
Senior Notes | 5.00% 5-Year Senior Notes, Due 1/31/2029    
Debt Instrument [Line Items]    
Interest rate 5.00%  
Term 5 years  
Effective interest rate 5.24%  
Total borrowings at par value $ 1,000 1,000
Senior Notes | 1.125% 4-Year Senior Notes, Due 3/7/2029 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.125%  
Term 4 years  
Effective interest rate 1.26%  
Total borrowings at par value $ 358 0
Senior Notes | 1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.95%  
Term 12 years  
Effective interest rate 2.07%  
Total borrowings at par value $ 758 725
Senior Notes | 2.60% 10-Year Senior Notes, Due 10/1/2029    
Debt Instrument [Line Items]    
Interest rate 2.60%  
Term 10 years  
Effective interest rate 2.74%  
Total borrowings at par value $ 900 900
Senior Notes | 1.279% 7-Year Senior Notes, Due 10/19/2029 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.279%  
Term 7 years  
Effective interest rate 1.44%  
Total borrowings at par value $ 31 30
Senior Notes | 1.120% 5-Year Senior Notes, Due 1/6/2030 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.12%  
Term 5 years  
Effective interest rate 1.25%  
Total borrowings at par value $ 266 0
Senior Notes | 4.977% 7-Year Senior Notes, Due 8/10/2030    
Debt Instrument [Line Items]    
Interest rate 4.977%  
Term 7 years  
Effective interest rate 5.12%  
Total borrowings at par value $ 750 750
Senior Notes | 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 0.80%  
Term 9 years  
Effective interest rate 0.88%  
Total borrowings at par value $ 1,895 1,812
Senior Notes | 0.875% Notes due 2031    
Debt Instrument [Line Items]    
Interest rate 0.875%  
Term 12 years  
Effective interest rate 1.13%  
Total borrowings at par value $ 975 932
Senior Notes | 2.00% 10-Year Senior Notes, Due 10/15/2031    
Debt Instrument [Line Items]    
Interest rate 2.00%  
Term 10 years  
Effective interest rate 2.23%  
Total borrowings at par value $ 1,200 1,200
Senior Notes | 1.8401% 8-Year Senior Notes, Due 3/8/2032 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.8401%  
Term 8 years  
Effective interest rate 1.92%  
Total borrowings at par value $ 471 457
Senior Notes | 2.375% Notes due 2032    
Debt Instrument [Line Items]    
Interest rate 2.375%  
Term 12 years  
Effective interest rate 2.54%  
Total borrowings at par value $ 650 621
Senior Notes | 1.49% 10-Year Senior Notes, Due 10/20/2032 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.49%  
Term 10 years  
Effective interest rate 1.60%  
Total borrowings at par value $ 42 40
Senior Notes | 4.95% 10-Year Senior Notes, Due 11/21/2032    
Debt Instrument [Line Items]    
Interest rate 4.95%  
Term 10 years  
Effective interest rate 5.09%  
Total borrowings at par value $ 600 600
Senior Notes | 1.4175% Senior Notes Due 2033    
Debt Instrument [Line Items]    
Interest rate 1.4175%  
Term 8 years  
Effective interest rate 1.49%  
Total borrowings at par value $ 397 0
Senior Notes | 5.086% 10-Year Senior Notes, Due 8/10/2033    
Debt Instrument [Line Items]    
Interest rate 5.086%  
Term 10 years  
Effective interest rate 5.20%  
Total borrowings at par value $ 1,000 1,000
Senior Notes | 1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.125%  
Term 12 years  
Effective interest rate 1.20%  
Total borrowings at par value $ 1,624 1,553
Senior Notes | 5.20% 10-Year Senior Notes, Due 1/31/2034    
Debt Instrument [Line Items]    
Interest rate 5.20%  
Term 10 years  
Effective interest rate 5.34%  
Total borrowings at par value $ 500 500
Senior Notes | 3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 3.65%  
Term 12 years  
Effective interest rate 3.76%  
Total borrowings at par value $ 812 777
Senior Notes | 1.50% 12-Year Senior Notes, Due 9/6/2035 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.50%  
Term 12 years  
Effective interest rate 1.58%  
Total borrowings at par value $ 143 137
Senior Notes | 2.0375% 12-Year Senior Notes, Due 3/7/2036 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 2.0375%  
Term 12 years  
Effective interest rate 2.10%  
Total borrowings at par value $ 369 358
Senior Notes | 1.520% Senior Notes Due 2037    
Debt Instrument [Line Items]    
Interest rate 1.52%  
Term 12 years  
Effective interest rate 1.56%  
Total borrowings at par value $ 353 0
Senior Notes | 1.6524% Senior Notes Due 2037    
Debt Instrument [Line Items]    
Interest rate 1.6524%  
Term 12 years  
Effective interest rate 1.71%  
Total borrowings at par value $ 244 0
Senior Notes | 2.875% Notes due 2037    
Debt Instrument [Line Items]    
Interest rate 2.875%  
Term 20 years  
Effective interest rate 2.94%  
Total borrowings at par value $ 758 725
Senior Notes | 1.500% Notes due 2039    
Debt Instrument [Line Items]    
Interest rate 1.50%  
Term 20 years  
Effective interest rate 1.73%  
Total borrowings at par value $ 975 932
Senior Notes | 2.80% 20-Year Senior Notes, Due 10/15/2041    
Debt Instrument [Line Items]    
Interest rate 2.80%  
Term 20 years  
Effective interest rate 2.90%  
Total borrowings at par value $ 1,200 1,200
Senior Notes | 1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.625%  
Term 20 years  
Effective interest rate 1.77%  
Total borrowings at par value $ 1,354 1,294
Senior Notes | 2.069% 20-Year Senior Notes, Due 10/20/2042 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 2.069%  
Term 20 years  
Effective interest rate 2.13%  
Total borrowings at par value $ 97 93
Senior Notes | 5.404% 20-Year Senior Notes, Due 8/10/2043    
Debt Instrument [Line Items]    
Interest rate 5.404%  
Term 20 years  
Effective interest rate 5.50%  
Total borrowings at par value $ 600 600
Senior Notes | 2.02% 20-Year Senior Notes, Due 9/6/2043 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 2.02%  
Term 20 years  
Effective interest rate 2.06%  
Total borrowings at par value $ 193 184
Senior Notes | 5.30% 30-Year Senior Notes, Due 2/1/2044    
Debt Instrument [Line Items]    
Interest rate 5.30%  
Term 30 years  
Effective interest rate 5.37%  
Total borrowings at par value $ 400 400
Senior Notes | 1.49% 20-Year Senior Notes, Due 1/6/2045 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.49%  
Term 20 years  
Effective interest rate 1.54%  
Total borrowings at par value $ 210 0
Senior Notes | 1.8975% 20-Year Senior Notes, Due 3/7/2045 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.8975%  
Term 20 years  
Effective interest rate 1.95%  
Total borrowings at par value $ 153  
Senior Notes | 4.10% 30-Year Senior Notes, Due 8/15/2047    
Debt Instrument [Line Items]    
Interest rate 4.10%  
Term 30 years  
Effective interest rate 4.23%  
Total borrowings at par value $ 750 750
Senior Notes | 1.875% Notes due 2049    
Debt Instrument [Line Items]    
Interest rate 1.875%  
Term 30 years  
Effective interest rate 1.98%  
Total borrowings at par value $ 1,083 1,035
Senior Notes | 1.47% 25-Year Senior Notes, Due 1/6/2050 (Swiss franc-denominated)    
Debt Instrument [Line Items]    
Interest rate 1.47%  
Term 25 years  
Effective interest rate 1.49%  
Total borrowings at par value $ 371  
Senior Notes | 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)    
Debt Instrument [Line Items]    
Interest rate 2.00%  
Term 30 years  
Effective interest rate 2.07%  
Total borrowings at par value $ 812 777
Senior Notes | 2.382% 30-Year Senior Notes, Due 10/18/2052 (Japanese yen-denominated)    
Debt Instrument [Line Items]    
Interest rate 2.382%  
Term 30 years  
Effective interest rate 2.43%  
Total borrowings at par value $ 222 212
Other    
Debt Instrument [Line Items]    
Total borrowings at par value 74 73
Total borrowings at carrying value $ 74 $ 73
v3.25.1
Debt and Other Financing Arrangements - Narrative (Details)
 3 Months Ended
Mar. 29, 2025
USD ($)
Senior Notes  
Short-term Financing [Line Items]  
Redemption price (as a percent) 100.00%
U.S. Commercial Paper Program | Commercial Paper  
Short-term Financing [Line Items]  
Maximum maturity period 397 days
Euro Commercial Paper Program | Commercial Paper  
Short-term Financing [Line Items]  
Maximum maturity period 183 days
0.00% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) | Senior Notes  
Short-term Financing [Line Items]  
Interest rate 0.00%
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) | Senior Notes  
Short-term Financing [Line Items]  
Interest rate 0.80%
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated) | Senior Notes  
Short-term Financing [Line Items]  
Interest rate 1.125%
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated) | Senior Notes  
Short-term Financing [Line Items]  
Interest rate 1.625%
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) | Senior Notes  
Short-term Financing [Line Items]  
Interest rate 2.00%
Revolving Credit Facility  
Short-term Financing [Line Items]  
Borrowing capacity $ 5,000,000,000.00
Minimum consolidated interest coverage ratio 3.5
Borrowings outstanding $ 0
v3.25.1
Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Recurring - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Assets    
Cash equivalents $ 1,161 $ 1,103
Bank time deposits 1,810 1,560
Investments 50 39
Insurance contracts 232 240
Derivative contracts 354 460
Total assets 3,607 3,401
Liabilities    
Derivative contracts 72 59
Contingent consideration 13 13
Total liabilities 86 72
Quoted Prices in Active Markets (Level 1)    
Assets    
Cash equivalents 1,161 1,103
Bank time deposits 1,810 1,560
Investments 19 18
Insurance contracts 0 0
Derivative contracts 0 0
Total assets 2,990 2,680
Liabilities    
Derivative contracts 0 0
Contingent consideration 0 0
Total liabilities 0 0
Significant Other Observable Inputs (Level 2)    
Assets    
Cash equivalents 0 0
Bank time deposits 0 0
Investments 0 0
Insurance contracts 232 240
Derivative contracts 354 460
Total assets 586 700
Liabilities    
Derivative contracts 72 59
Contingent consideration 0 0
Total liabilities 72 59
Significant Unobservable Inputs (Level 3)    
Assets    
Cash equivalents 0 0
Bank time deposits 0 0
Investments 31 21
Insurance contracts 0 0
Derivative contracts 0 0
Total assets 31 21
Liabilities    
Derivative contracts 0 0
Contingent consideration 13 13
Total liabilities $ 13 $ 13
v3.25.1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Fair Value Disclosures [Abstract]    
Gain (loss) on sale of investments $ 2 $ 10
v3.25.1
Fair Value Measurements - Schedule of Fair Value of Investments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Investments    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 21  
Purchases 11  
Ending balance 31  
Contingent consideration    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance 13 $ 87
Payments 0 (2)
Changes in fair value included in earnings 1 (2)
Ending balance $ 13 $ 83
Fair Value, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Income [Extensible Enumeration] Selling, general and administrative expenses Selling, general and administrative expenses
v3.25.1
Fair Value Measurements - Schedule of Fair Value of Other Instruments (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying value $ 33,989 $ 31,072
Fair value 31,190 28,527
Senior notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying value 33,915 30,999
Fair value 31,116 28,454
Other    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying value 74 73
Fair value $ 74 $ 73
v3.25.1
Supplemental Income Statement Information - Scheduleof Disaggregated Revenues (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Disaggregation of Revenue [Line Items]    
Total revenues $ 10,364 $ 10,345
Life Sciences Solutions    
Disaggregation of Revenue [Line Items]    
Total revenues 1,954 1,930
Analytical Instruments    
Disaggregation of Revenue [Line Items]    
Total revenues 1,677 1,629
Specialty Diagnostics    
Disaggregation of Revenue [Line Items]    
Total revenues 1,130 1,099
Laboratory Products and Biopharma Services    
Disaggregation of Revenue [Line Items]    
Total revenues 5,603 5,686
Total Reportable Segments    
Disaggregation of Revenue [Line Items]    
Total revenues 10,846 10,805
Total Reportable Segments | Life Sciences Solutions    
Disaggregation of Revenue [Line Items]    
Total revenues 2,341 2,285
Total Reportable Segments | Biosciences    
Disaggregation of Revenue [Line Items]    
Total revenues 993 1,059
Total Reportable Segments | Genetic sciences    
Disaggregation of Revenue [Line Items]    
Total revenues 677 637
Total Reportable Segments | BioProduction    
Disaggregation of Revenue [Line Items]    
Total revenues 671 590
Total Reportable Segments | Analytical Instruments    
Disaggregation of Revenue [Line Items]    
Total revenues 1,718 1,687
Total Reportable Segments | Chromatography and mass spectrometry    
Disaggregation of Revenue [Line Items]    
Total revenues 773 789
Total Reportable Segments | Chemical analysis    
Disaggregation of Revenue [Line Items]    
Total revenues 286 320
Total Reportable Segments | Electron microscopy    
Disaggregation of Revenue [Line Items]    
Total revenues 659 579
Total Reportable Segments | Specialty Diagnostics    
Disaggregation of Revenue [Line Items]    
Total revenues 1,148 1,109
Total Reportable Segments | Clinical diagnostics    
Disaggregation of Revenue [Line Items]    
Total revenues 263 263
Total Reportable Segments | ImmunoDiagnostics    
Disaggregation of Revenue [Line Items]    
Total revenues 217 212
Total Reportable Segments | Microbiology    
Disaggregation of Revenue [Line Items]    
Total revenues 152 153
Total Reportable Segments | Transplant diagnostics    
Disaggregation of Revenue [Line Items]    
Total revenues 113 106
Total Reportable Segments | Healthcare market channel    
Disaggregation of Revenue [Line Items]    
Total revenues 474 438
Total Reportable Segments | Laboratory Products and Biopharma Services    
Disaggregation of Revenue [Line Items]    
Total revenues 5,640 5,723
Total Reportable Segments | Laboratory products    
Disaggregation of Revenue [Line Items]    
Total revenues 582 624
Total Reportable Segments | Research and safety market channel    
Disaggregation of Revenue [Line Items]    
Total revenues 1,727 1,711
Total Reportable Segments | Pharma services    
Disaggregation of Revenue [Line Items]    
Total revenues 1,607 1,578
Total Reportable Segments | Clinical research    
Disaggregation of Revenue [Line Items]    
Total revenues 1,939 2,033
Elimination of intersegment revenues    
Disaggregation of Revenue [Line Items]    
Total revenues (482) (460)
Elimination of intersegment revenues | Specialty Diagnostics    
Disaggregation of Revenue [Line Items]    
Total revenues (72) (63)
Elimination of intersegment revenues | Laboratory Products and Biopharma Services    
Disaggregation of Revenue [Line Items]    
Total revenues (214) (224)
North America    
Disaggregation of Revenue [Line Items]    
Total revenues 5,513 5,519
Europe    
Disaggregation of Revenue [Line Items]    
Total revenues 2,624 2,619
Asia-Pacific    
Disaggregation of Revenue [Line Items]    
Total revenues 1,891 1,861
Other regions    
Disaggregation of Revenue [Line Items]    
Total revenues 337 346
Consumables    
Disaggregation of Revenue [Line Items]    
Total revenues 4,354 4,328
Instruments    
Disaggregation of Revenue [Line Items]    
Total revenues 1,626 1,627
Services    
Disaggregation of Revenue [Line Items]    
Total revenues $ 4,384 $ 4,390
v3.25.1
Supplemental Income Statement Information - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
May 02, 2025
Restructuring Cost and Reserve [Line Items]    
Workforce reduction 1.00%  
Subsequent Event    
Restructuring Cost and Reserve [Line Items]    
Additional restructuring charges   $ 120
v3.25.1
Supplemental Income Statement Information - Schedule of Restructuring and Other Costs by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restructuring Cost and Reserve [Line Items]    
Restructuring and other costs $ 98 $ 29
Corporate    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other costs 5  
Life Sciences Solutions | Total Reportable Segments    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other costs 42  
Analytical Instruments | Total Reportable Segments    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other costs 4  
Specialty Diagnostics | Total Reportable Segments    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other costs 2  
Laboratory Products and Biopharma Services | Total Reportable Segments    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other costs $ 45  
v3.25.1
Supplemental Income Statement Information - Schedule of Changes in the Company's Accrued Restructuring Balance (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Restructuring Reserve [Roll Forward]  
Beginning balance $ 50
Net restructuring charges incurred in 2025 43
Payments (34)
Currency translation 1
Ending balance 59
Non-cash charges 55
Impairment of long-lived assets $ 68
v3.25.1
Supplemental Income Statement Information - Schedule of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Supplemental Income Statement Elements [Abstract]    
Net income attributable to Thermo Fisher Scientific Inc. $ 1,507 $ 1,328
Basic weighted average shares (in shares) 378 382
Plus effect of: stock options and restricted stock units (in shares) 1 2
Diluted weighted average shares (in shares) 379 384
Basic earnings per share (in dollars per share) $ 3.99 $ 3.47
Diluted earnings per share (in dollars per share) $ 3.98 $ 3.46
Antidilutive stock options excluded from diluted weighted average shares (in shares) 3 2
v3.25.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Effective Income Tax Rate Reconciliation, Amount [Abstract]    
Statutory federal income tax rate 21.00% 21.00%
Provision for income taxes at statutory rate $ 340 $ 334
Foreign rate differential (30) (38)
Income tax credits (45) (89)
Global intangible low-taxed income 10 12
Foreign-derived intangible income (27) (22)
Excess tax benefits from stock options and restricted stock units (10) (33)
Provision for (reversal of) tax reserves, net (28) 185
Intra-entity transfers 0 (102)
Domestication transaction (125) 0
Provision for (reversal of) valuation allowances, net (12) 47
Withholding taxes 3 4
Tax return reassessments and settlements 3 (29)
State income taxes, net of federal tax 14 19
Other, net 2 (6)
Provision for/(benefit from) income taxes $ 95 $ 281
v3.25.1
Income Taxes - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
country
Mar. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Valuation Allowance [Line Items]      
Domestication transaction $ (125) $ 0  
Countries with taxable presence | country 70    
Unrecognized tax benefits $ 525   $ 525
Foreign Tax Jurisdiction      
Valuation Allowance [Line Items]      
Provision for (reversal of) tax reserves, net   $ 240  
v3.25.1
Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefits (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Reconciliation of Unrecognized Tax Benefits [Roll Forward]  
Balance at beginning of year $ 525
Additions for tax positions of current year 8
Reductions for tax positions of prior years (8)
Balance at end of period $ 525
v3.25.1
Comprehensive Income/(Loss) and Shareholders' Equity (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]  
Beginning Balance $ 49,551
Ending Balance 49,357
Currency translation adjustment  
Increase (Decrease) in Stockholders' Equity [Roll Forward]  
Beginning Balance (2,409)
Other comprehensive income/(loss) before reclassifications 360
Amounts reclassified from accumulated other comprehensive income/(loss) (4)
Net other comprehensive income/(loss) 356
Ending Balance (2,053)
Unrealized gains/(losses) on hedging instruments  
Increase (Decrease) in Stockholders' Equity [Roll Forward]  
Beginning Balance (25)
Other comprehensive income/(loss) before reclassifications 0
Amounts reclassified from accumulated other comprehensive income/(loss) 1
Net other comprehensive income/(loss) 1
Ending Balance (24)
Pension and other postretirement benefit liability adjustment  
Increase (Decrease) in Stockholders' Equity [Roll Forward]  
Beginning Balance (263)
Other comprehensive income/(loss) before reclassifications (3)
Amounts reclassified from accumulated other comprehensive income/(loss) 1
Net other comprehensive income/(loss) (3)
Ending Balance (265)
Total  
Increase (Decrease) in Stockholders' Equity [Roll Forward]  
Beginning Balance (2,697)
Other comprehensive income/(loss) before reclassifications 357
Amounts reclassified from accumulated other comprehensive income/(loss) (3)
Net other comprehensive income/(loss) 354
Ending Balance $ (2,343)
v3.25.1
Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Non-cash investing and financing activities    
Acquired but unpaid property, plant and equipment $ 173 $ 165
Declared but unpaid dividends 164 150
Issuance of stock upon vesting of restricted stock units 65 63
Excise tax from stock repurchases $ 18 $ 29
v3.25.1
Supplemental Cash Flow Information - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Mar. 30, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]        
Cash and cash equivalents $ 4,134 $ 4,009    
Restricted cash included in other current assets 16 10    
Restricted cash included in other assets 22 21    
Cash, cash equivalents and restricted cash $ 4,172 $ 4,040 $ 5,519 $ 8,097
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible Enumeration] Other current assets Other current assets    
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets    
v3.25.1
Derivatives - Derivative Assets & Liabilities (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Fair Value, Recurring    
Derivatives, Fair Value [Line Items]    
Derivative Asset $ 354 $ 460
Derivative Liability 72 59
Interest rate swaps | Financial instruments designated as net investment hedges | Cross-currency interest rate swaps designated as net investment hedge - euro    
Derivatives, Fair Value [Line Items]    
Notional amount 1,000 1,000
Interest rate swaps | Financial instruments designated as net investment hedges | Cross-currency interest rate swaps designated as net investment hedge - Japanese yen    
Derivatives, Fair Value [Line Items]    
Notional amount 4,650 4,650
Interest rate swaps | Financial instruments designated as net investment hedges | Cross-currency interest rate swaps designated as net investment hedge - Swiss franc    
Derivatives, Fair Value [Line Items]    
Notional amount 2,500 2,500
Currency exchange contracts    
Derivatives, Fair Value [Line Items]    
Notional amount 1,412 1,588
Currency exchange contracts | Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Asset 1 2
Derivative Liability 2 2
Cross-currency interest rate swaps | Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative Asset 352 458
Derivative Liability $ 70 $ 57
v3.25.1
Derivatives - Derivative Instruments, Gains & Losses (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Currency exchange contracts | Included in cost of product revenues | Derivatives not designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative $ 1 $ 3
Currency exchange contracts | Included in other income/(expense) | Derivatives not designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative 10 (6)
Derivatives designated as cash flow hedges | Interest rate swaps | Amount reclassified from accumulated other comprehensive items to interest expense | Derivatives designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount reclassified from accumulated other comprehensive items to interest expense (1) (1)
Financial instruments designated as net investment hedges | Foreign currency-denominated debt and other payables | Derivatives designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on currency translation adjustment (450) 275
Financial instruments designated as net investment hedges | Cross-currency interest rate swaps | Derivatives designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on currency translation adjustment (119) 444
Gain (loss) on derivative $ 68 $ 66
v3.25.1
Business Segment Information - Narrative (Details)
 3 Months Ended
Mar. 29, 2025
Segment
Segment Reporting [Abstract]  
Number of reportable segments 4
v3.25.1
Business Segment Information - Schedule of Business Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]      
Total revenues $ 10,364 $ 10,345  
Selling, general and administrative expenses 2,078 2,183  
Research and development expenses 342 331  
Segment income 1,716 1,663  
Restructuring and other costs (98) (29)  
Amortization of acquisition-related intangible assets (429) (551)  
Interest income 203 279  
Interest expense (303) (363)  
Other income/(expense) 3 10  
Consolidated income before income taxes 1,620 1,589  
Segment assets 99,041 97,095 $ 97,321
Purchases of property, plant and equipment 362 347  
Depreciation of property, plant and equipment 276 285  
Life Sciences Solutions      
Segment Reporting Information [Line Items]      
Total revenues 1,954 1,930  
Analytical Instruments      
Segment Reporting Information [Line Items]      
Total revenues 1,677 1,629  
Specialty Diagnostics      
Segment Reporting Information [Line Items]      
Total revenues 1,130 1,099  
Laboratory Products and Biopharma Services      
Segment Reporting Information [Line Items]      
Total revenues 5,603 5,686  
Elimination of intersegment revenues      
Segment Reporting Information [Line Items]      
Total revenues (482) (460)  
Elimination of intersegment revenues | Specialty Diagnostics      
Segment Reporting Information [Line Items]      
Total revenues (72) (63)  
Elimination of intersegment revenues | Laboratory Products and Biopharma Services      
Segment Reporting Information [Line Items]      
Total revenues (214) (224)  
Operating Segments      
Segment Reporting Information [Line Items]      
Total revenues 10,846 10,805  
Segment income 2,269 2,278  
Operating Segments | Life Sciences Solutions      
Segment Reporting Information [Line Items]      
Total revenues 2,341 2,285  
Cost of revenues 856 821  
Selling, general and administrative expenses 470 431  
Research and development expenses 137 132  
Other segment items 44 61  
Segment income 834 840  
Restructuring and other costs (42)    
Segment assets 3,018 3,114  
Purchases of property, plant and equipment 43 25  
Depreciation of property, plant and equipment 59 56  
Operating Segments | Analytical Instruments      
Segment Reporting Information [Line Items]      
Total revenues 1,718 1,687  
Cost of revenues 836 799  
Selling, general and administrative expenses 314 318  
Research and development expenses 137 132  
Other segment items 31 39  
Segment income 399 400  
Restructuring and other costs (4)    
Segment assets 2,986 2,671  
Purchases of property, plant and equipment 44 27  
Depreciation of property, plant and equipment 24 25  
Operating Segments | Specialty Diagnostics      
Segment Reporting Information [Line Items]      
Total revenues 1,148 1,109  
Cost of revenues 679 628  
Selling, general and administrative expenses 171 187  
Research and development expenses 45 40  
Other segment items (51) (40)  
Segment income 304 294  
Restructuring and other costs (2)    
Segment assets 1,298 1,179  
Purchases of property, plant and equipment 33 32  
Depreciation of property, plant and equipment 22 22  
Operating Segments | Laboratory Products and Biopharma Services      
Segment Reporting Information [Line Items]      
Total revenues 5,640 5,723  
Cost of revenues 4,424 4,500  
Selling, general and administrative expenses 592 585  
Research and development expenses 13 17  
Other segment items (120) (123)  
Segment income 731 744  
Restructuring and other costs (45)    
Segment assets 6,467 6,223  
Purchases of property, plant and equipment 205 240  
Depreciation of property, plant and equipment 172 183  
Segment Reconciling Items      
Segment Reporting Information [Line Items]      
Total revenues 482 460  
Cost of revenues adjustments (11) (15)  
Selling, general and administrative expenses adjustments (14) (19)  
Restructuring and other costs (98) (29)  
Amortization of acquisition-related intangible assets (429) (551)  
Segment assets 85,272 83,908  
Purchases of property, plant and equipment 36 24  
Depreciation of property, plant and equipment 0 0  
Segment Reconciling Items | Life Sciences Solutions      
Segment Reporting Information [Line Items]      
Total revenues 387 355  
Segment Reconciling Items | Analytical Instruments      
Segment Reporting Information [Line Items]      
Total revenues 41 58  
Segment Reconciling Items | Specialty Diagnostics      
Segment Reporting Information [Line Items]      
Total revenues 18 10  
Segment Reconciling Items | Laboratory Products and Biopharma Services      
Segment Reporting Information [Line Items]      
Total revenues $ 37 $ 37  
v3.25.1
Acquisitions - Narrative (Details) - USD ($)
$ in Billions
 9 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Acquisition [Line Items]    
Weighted-average amortization period   18 years
Customer relationships    
Business Acquisition [Line Items]    
Weighted-average amortization period   19 years
Product technology    
Business Acquisition [Line Items]    
Weighted-average amortization period   15 years
Tradenames    
Business Acquisition [Line Items]    
Weighted-average amortization period   15 years
Solventum Corporation, Purification & Filtration Business | Forecast    
Business Acquisition [Line Items]    
Cash paid $ 4.1  
v3.25.1
Acquisitions - Schedule of Components of Purchase Price and Net Assets Acquired (Details) - USD ($)
$ in Millions
Jul. 10, 2024
Mar. 29, 2025
Dec. 31, 2024
Business Acquisition [Line Items]      
Goodwill   $ 46,493 $ 45,853
Olink Holding AB      
Business Acquisition [Line Items]      
Cash paid $ 3,215    
Purchase price payable 28    
Cash acquired (97)    
Purchase price 3,146    
Goodwill 2,302    
Net tangible assets 8    
Deferred tax assets (liabilities) (176)    
Net assets acquired 3,146    
Olink Holding AB | Customer relationships      
Business Acquisition [Line Items]      
Definite-lived intangible assets 708    
Olink Holding AB | Product technology      
Business Acquisition [Line Items]      
Definite-lived intangible assets 207    
Olink Holding AB | Tradenames      
Business Acquisition [Line Items]      
Definite-lived intangible assets $ 97