Intangible Assets and Goodwill (Tables)

3 Months Ended

Apr. 02, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

(Dollars in Millions)	April 2, 2023		January 1, 2023
Intangible assets with definite lives:
Patents and trademarks — gross	$	44,636	44,012
Less accumulated amortization	(23,512)		(22,266)
Patents and trademarks — net	21,124		21,746
Customer relationships and other intangibles — gross	23,008		22,987
Less accumulated amortization	(13,211)		(12,901)
Customer relationships and other intangibles — net(1)	9,797		10,086
Intangible assets with indefinite lives:
Trademarks	6,843		6,807
Purchased in-process research and development	9,684		9,686
Total intangible assets with indefinite lives	16,527		16,493
Total intangible assets — net	$	47,448	48,325

(1)The majority is comprised of customer relationships

Goodwill

Goodwill as of April 2, 2023 was allocated by segment of business as follows:

(Dollars in Millions)	Consumer Health		Pharmaceutical	MedTech		Total
Goodwill at January 1, 2023	$	9,184	10,184	25,863		45,231
Goodwill, related to acquisitions	—		—	—		—
Currency translation/Other	49		124	171	*	344
Goodwill at April 2, 2023	$	9,233	10,308	26,034		45,575

*Includes purchase price allocation adjustment for Abiomed

Intangible Asset Amortization Expense

The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately:

(Dollars in Millions)
2023	2024	2025	2026	2027
$4,800	4,600	3,800	3,200	2,600