Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

(Dollars in Millions)	September 29, 2024	December 31, 2023
Intangible assets with definite lives:
Patents and trademarks — gross	$44,926	40,417
Less accumulated amortization	(26,699)	(24,808)
Patents and trademarks — net	18,227	15,609
Customer relationships and other intangibles — gross	20,715	20,322
Less accumulated amortization	(13,506)	(12,685)
Customer relationships and other intangibles — net(1)	7,209	7,637
Intangible assets with indefinite lives:
Trademarks	1,704	1,714
Purchased in-process research and development	12,350	9,215
Total intangible assets with indefinite lives	14,054	10,929
Total intangible assets — net	$39,490	34,175

(1)The majority is comprised of customer relationships

Goodwill

Goodwill as of September 29, 2024 was allocated by segment of business as follows:

(Dollars in Millions)	Innovative Medicine	MedTech	Total
Goodwill at December 31, 2023	$10,407	26,151	36,558
Goodwill, related to acquisitions	620	7,567	8,187
Goodwill, related to divestitures	—	(56)	(56)
Currency translation/Other	85	25	110
Goodwill at September 29, 2024	$11,112	33,687	44,799

Intangible Asset Amortization Expense

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

(Dollars in Millions)
2024	2025	2026	2027	2028
$4,500	3,900	3,300	2,700	2,000