Business Segment and Geographical Information

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Business Segment and Geographical Information [Text Block]

Note 4.    Business Segment and Geographical Information

Business Segment Information

	Three months ended				Six months ended
	July 2,		July 3,		July 2,		July 3,
(In millions)	2022		2021		2022		2021
Revenues
Life Sciences Solutions	$	3,292	$	3,557	$	7,523	$	7,760
Analytical Instruments	1,607		1,481		3,125		2,868
Specialty Diagnostics	1,101		1,235		2,583		2,850
Laboratory Products and Biopharma Services	5,537		3,583		10,979		7,180
Eliminations	(567)		(583)		(1,422)		(1,479)
Consolidated revenues	10,970		9,273		22,788		19,179
Segment Income
Life Sciences Solutions	1,327		1,718		3,503		3,997
Analytical Instruments	344		280		645		552
Specialty Diagnostics	243		245		596		673
Laboratory Products and Biopharma Services	691		446		1,311		977
Subtotal reportable segments	2,605		2,689		6,055		6,199
Cost of revenues adjustments	(8)		—		(19)		(8)
Selling, general and administrative expenses adjustments	28		42		21		26
Restructuring and other costs	(24)		(119)		(26)		(133)
Amortization of acquisition-related intangible assets	(600)		(449)		(1,209)		(872)
Consolidated operating income	2,001		2,163		4,822		5,212
Interest income	36		11		54		23
Interest expense	(148)		(122)		(284)		(247)
Other income/(expense)	28		(3)		(135)		(186)
Income before income taxes	$	1,917	$	2,049	$	4,457	$	4,802

Cost of revenues adjustments included in the above table consist of charges for the sale of inventories revalued at the date of acquisition. Selling, general and administrative expenses adjustments included in the above table consist of third-party transaction/integration costs related to recent acquisitions, and charges/credits for changes in estimates of contingent acquisition consideration.

Geographical Information

Revenues by country based on customer location are as follows:

	Three months ended				Six months ended
	July 2,		July 3,		July 2,		July 3,
(In millions)	2022		2021		2022		2021
Revenues
United States	$	5,846	$	4,355	$	11,943	$	9,247
China	1,001		794		1,911		1,569
Other	4,123		4,124		8,934		8,363
Consolidated revenues	$	10,970	$	9,273	$	22,788	$	19,179