Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 4,477	$ 10,325
Accounts receivable, less allowances of $150 and $135	7,977	5,741
Inventories	5,051	4,029
Contract assets, net	968	731
Other current assets	1,640	1,131
Total current assets	20,113	21,957
Property, plant and equipment, net	8,333	5,912
Acquisition-related intangible assets, net	20,113	12,685
Other assets	4,640	2,457
Goodwill	41,924	26,041
Total assets	95,123	69,052
Current liabilities:
Short-term obligations and current maturities of long-term obligations	2,537	2,628
Accounts payable	2,867	2,175
Accrued payroll and employee benefits	2,427	1,916
Contract liabilities	2,655	1,271
Other accrued expenses	2,950	2,314
Total current liabilities	13,436	10,304
Deferred income taxes	3,837	1,794
Other long-term liabilities	4,540	3,330
Long-term obligations	32,333	19,107
Commitments and Contingencies
Redeemable noncontrolling interest	122	0
Thermo Fisher Scientific Inc. shareholders’ equity:
Preferred stock, $100 par value, 50,000 shares authorized; none issued
Common stock, $1 par value, 1,200,000,000 shares authorized; 439,154,741 and 437,088,297 shares issued	439	437
Capital in excess of par value	16,174	15,579
Retained earnings	35,431	28,116
Treasury stock at cost, 44,720,112 and 40,417,789 shares	(8,922)	(6,818)
Accumulated other comprehensive items	(2,329)	(2,807)
Total Thermo Fisher Scientific Inc. shareholders’ equity	40,793	34,507
Noncontrolling interests	62	10
Total equity	40,855	34,517
Total liabilities, redeemable noncontrolling interest and equity	$ 95,123	$ 69,052