Intangible Assets and Goodwill

3 Months Ended

Mar. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

Intangible assets and goodwill

Intangible assets that have finite useful lives are amortized over their estimated useful lives. The latest annual impairment assessment of goodwill and indefinite lived intangible assets was completed in the fiscal fourth quarter of 2024. Future impairment tests for goodwill and indefinite lived intangible assets will be performed annually in the fiscal fourth quarter, or sooner, if warranted.

(Dollars in Millions)	March 30, 2025	December 29, 2024
Intangible assets with definite lives:
Patents and trademarks — gross	$45,591	44,695
Less accumulated amortization	(27,748)	(26,124)
Patents and trademarks — net	$17,843	18,571
Customer relationships and other intangibles — gross	20,493	20,310
Less accumulated amortization	(13,882)	(13,544)
Customer relationships and other intangibles — net(1)	$6,611	6,766
Intangible assets with indefinite lives:
Purchased in-process research and development	12,301	12,281
Total intangible assets — net	$36,755	37,618

(1)The majority is comprised of customer relationships

Goodwill as of March 30, 2025 was allocated by segment of business as follows:

(Dollars in Millions)	Innovative Medicine	MedTech	Total
Goodwill at December 29, 2024	$10,692	33,508	44,200
Goodwill, related to acquisitions	—	—	—
Goodwill, related to divestitures	—	(29)	(29)
Currency translation/Other	215	82	297
Goodwill at March 30, 2025	$10,907	33,561	44,468

The weighted average amortization period for patents and trademarks is approximately 12 years. The weighted average amortization period for customer relationships and other intangible assets is approximately 19 years. The amortization expense of amortizable intangible assets included in the cost of products sold was $1.1 billion for both of the fiscal first quarters ended March 30, 2025 and March 31, 2024.

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

(Dollars in Millions)
2025	2026	2027	2028	2029
$4,000	3,400	2,800	2,200	2,200

See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.