Business Segment and Geographical Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business Segment and Geographical Information

Business Segment and Geographical Information

Business Segment Information

	Three months ended				Nine months ended
	September 30,		October 1,		September 30,		October 1,
(In millions)	2023		2022		2023		2022
Revenues
Life Sciences Solutions	$	2,433	$	2,962	$	7,508	$	10,485
Analytical Instruments	1,754		1,621		5,226		4,746
Specialty Diagnostics	1,083		1,065		3,300		3,648
Laboratory Products and Biopharma Services	5,728		5,585		17,322		16,564
Eliminations	(424)		(556)		(1,385)		(1,978)
Consolidated revenues	10,574		10,677		31,971		33,465
Segment Income
Life Sciences Solutions	872		1,039		2,525		4,542
Analytical Instruments	468		386		1,321		1,031
Specialty Diagnostics	283		220		860		816
Laboratory Products and Biopharma Services	937		725		2,554		2,036
Subtotal reportable segments	2,560		2,370		7,260		8,425
Cost of revenues adjustments	(14)		(22)		(73)		(41)
Selling, general and administrative expenses adjustments	(14)		(11)		(28)		10
Restructuring and other costs	(84)		(33)		(379)		(59)
Amortization of acquisition-related intangible assets	(584)		(594)		(1,775)		(1,803)
Consolidated operating income	1,864		1,710		5,005		6,532
Interest income	246		68		570		122
Interest expense	(359)		(173)		(985)		(457)
Other income/(expense)	14		(4)		(32)		(139)
Consolidated income before taxes	$	1,765	$	1,601	$	4,558	$	6,058

Cost of revenues adjustments included in the above table consist of charges for the sale of inventories revalued at the date of acquisition, inventory write-downs associated with large-scale abandonment of product lines, and accelerated depreciation on manufacturing assets to be abandoned due to facility consolidations. Selling, general and administrative expenses adjustments included in the above table consist of third-party transaction/integration costs related to recent acquisitions, charges/credits for changes in estimates of contingent acquisition consideration, and charges associated with product liability litigation.

Geographical Information

Revenues by country based on customer location are as follows:

	Three months ended				Nine months ended
(In millions)	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Revenues
United States	$	5,490	$	5,787	$	16,608	$	17,730
Other	5,084		4,890		15,363		15,735
Consolidated revenues	$	10,574	$	10,677	$	31,971	$	33,465