Equity

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Equity

Equity

The Merck certificate of incorporation authorizes 6,500,000,000 shares of common stock and 20,000,000 shares of preferred stock.

Capital Stock

A summary of common stock and treasury stock transactions (shares in millions) is as follows:

	2024		2023		2022
	Common Stock	Treasury Stock	Common Stock	Treasury Stock	Common Stock	Treasury Stock
Balance January 1	3,577	1,045	3,577	1,039	3,577	1,049
Purchases of treasury stock	—	11	—	13	—	—
Issuances (1)	—	(7)	—	(7)	—	(10)
Balance December 31	3,577	1,049	3,577	1,045	3,577	1,039

(1)    Issuances primarily reflect activity under share-based compensation plans.