GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amounts in Goodwill were as follows:


Dollars in millions
Balance at December 31, 2024	$	21,719
Currency translation and other adjustments	27
Balance at September 30, 2025	$	21,745

Other Intangible Assets

Other intangible assets consisted of the following:


	Estimated Useful Lives	September 30, 2025						December 31, 2024
Dollars in millions		Gross carrying amounts		Accumulated amortization		Other intangible assets, net		Gross carrying amounts		Accumulated amortization		Other intangible assets, net
R&D technology	6 years	$	1,980	$	(523)	$	1,457	$	1,980	$	(275)	$	1,705
Acquired marketed product rights	3 – 17 years	61,939		(50,903)		11,036		61,876		(48,659)		13,217
Capitalized software	3 – 10 years	1,578		(1,206)		372		1,499		(1,099)		400
IPRD		7,600		—		7,600		7,985		—		7,985
Total		$	73,097	$	(52,632)	$	20,465	$	73,340	$	(50,033)	$	23,307

Amortization expense of Other intangible assets was $867 million and $2.6 billion during the three and nine months ended September 30, 2025 and $2.4 billion and $7.3 billion during the three and nine months ended September 30, 2024, respectively.

During the three and nine months ended September 30, 2025, $85 million and $385 million, respectively, of IPRD impairment charges were recorded in Research and development expense. The charges reflect a full write-down of an oncology asset due to pipeline reprioritization and a partial write-down of a separate oncology asset resulting from revised cash flow projections.

During the nine months ended September 30, 2024, a $280 million impairment charge was recorded in Cost of products sold resulting from lower revised cash flow projections for Inrebic. The charge represented a partial impairment based on the excess of the asset’s carrying value over its estimated fair value using discounted cash flow projections. Additionally, a $590 million IPRD impairment charge for alnuctamab was recorded in Research and development expense in connection with portfolio prioritization. Alnuctamab was being studied as a potential treatment for hematologic diseases and was obtained in the acquisition of Celgene. The charge represented a full write-down of the asset.