Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting, Measurement Disclosures [Abstract]

Segment Information

SEGMENT INFORMATION

In the fourth quarter of 2022, the Company realigned its reportable segments to reflect changes in the Company’s internal organization resulting from the rate of growth within certain of the Company’s businesses in the former Life Sciences segment. There was no change to the Company’s Diagnostics segment. Prior period segment amounts have been restated to conform to the revised segment presentation.

The Company operates and reports its results in three separate business segments consisting of the Biotechnology, Life Sciences and Diagnostics segments. Operating profit represents total revenues less operating expenses, excluding nonoperating income and expense, loss on early extinguishment of borrowings, interest and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance. The identifiable assets by segment are those used in each segment’s operations. Intersegment amounts are not significant and are eliminated to arrive at consolidated totals.

Detailed segment data for the years ended December 31 is as follows ($ in millions):

	2023		2022		2021
Sales:
Biotechnology	$	7,172	$	8,758	$	8,570
Life Sciences	7,141		7,036		6,388
Diagnostics	9,577		10,849		9,844
Total	$	23,890	$	26,643	$	24,802
Operating profit:
Biotechnology	$	1,909	$	3,008	$	3,074
Life Sciences	1,209		1,414		1,293
Diagnostics	2,406		3,436		2,313
Other	(322)		(322)		(303)
Total	$	5,202	$	7,536	$	6,377
Depreciation and amortization of intangible assets:
Biotechnology	$	1,026	$	1,002	$	1,059
Life Sciences	558		531		382
Diagnostics	577		590		614
Other	5		9		7
Total	$	2,166	$	2,132	$	2,062

The following table presents additional detailed segment data for the years ended December 31 ($ in millions):

	2023		2022		2021
Identifiable assets:
Biotechnology	$	37,421	$	37,536	$	38,118
Life Sciences	23,730		17,572		19,768
Diagnostics	14,552		14,722		15,054
Other	8,785		9,739		5,407
Discontinued operations	—		4,781		4,837
Total	$	84,488	$	84,350	$	83,184
Capital expenditures, gross:
Biotechnology	$	417	$	405	$	385
Life Sciences	320		325		210
Diagnostics	546		382		644
Other	100		6		1
Total	$	1,383	$	1,118	$	1,240

Operations in Geographical Areas:

	Year Ended December 31
($ in millions)	2023		2022		2021
Sales:
United States	$	9,579	$	11,289	$	9,411
China	3,143		3,611		3,565
All other (each country individually less than 5% of total sales)	11,168		11,743		11,826
Total	$	23,890	$	26,643	$	24,802
Property, plant and equipment, net:
United States	$	2,304	$	1,839	$	1,628
Sweden	425		429		513
United Kingdom	371		239		244
Germany	238		204		200
All other (each country individually less than 5% of total property, plant and equipment, net)	1,215		998		945
Total	$	4,553	$	3,709	$	3,530