Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

In the first quarter of 2023, we initiated a restructuring plan to enhance continued innovation, including investments in first-in-class medicines, while improving our cost structure. As part of the plan, we are reallocating resources to the areas of the business that will enable long-term growth. We completed substantially all the activities associated with this restructuring plan in 2023.

The following table summarizes recorded charges related to the restructuring plan by type of activity and the locations recognized within the Consolidated Statements of Income (in millions):

	Year ended December 31, 2023
	Separation costs		Asset impairments and other charges		Total
Cost of sales	$	—	$	36	$	36
Research and development	—		29		29
Selling, general and administrative	—		13		13
Other	186		3		189
Total	$	186	$	81	$	267

As of December 31, 2023, total restructuring liability decreased to $45 million primarily due to payments related to separation costs. The total restructuring liability was included in Accrued liabilities in the Consolidated Balance Sheets.