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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Sep. 30, 2023
Oct. 01, 2022
Revenues        
Revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465
Costs and operating expenses:        
Selling, general and administrative expenses 2,049 2,208 6,313 6,694
Research and development expenses 319 351 1,010 1,080
Restructuring and other costs 84 33 379 59
Total costs and operating expenses 8,710 8,967 26,966 26,933
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)
Income before income taxes 1,765 1,601 4,558 6,058
Provision for income taxes (53) (31) (151) (530)
Equity in earnings/(losses) of unconsolidated entities (17) (72) (58) (142)
Net income 1,695 1,498 4,349 5,386
Less: net income/(losses) attributable to noncontrolling interests and redeemable noncontrolling interest (20) 3 (16) 12
Net income attributable to Thermo Fisher Scientific Inc. $ 1,715 $ 1,495 $ 4,365 $ 5,374
Earnings per share attributable to Thermo Fisher Scientific Inc.        
Basic (in dollars per share) $ 4.44 $ 3.82 $ 11.31 $ 13.72
Diluted (in dollars per share) $ 4.42 $ 3.79 $ 11.25 $ 13.62
Weighted average shares        
Basic (in shares) 386 392 386 392
Diluted (in shares) 388 395 388 395
Product revenues        
Revenues        
Revenues $ 6,157 $ 6,583 $ 18,832 $ 21,603
Costs and operating expenses:        
Cost of revenues 3,214 3,494 9,829 10,565
Service revenues        
Revenues        
Revenues 4,417 4,094 13,139 11,862
Costs and operating expenses:        
Cost of revenues $ 3,044 $ 2,881 $ 9,435 $ 8,535