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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting, Measurement Disclosures [Abstract]  
Segment Information SEGMENT INFORMATION
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, interest and income taxes. 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.
The Company’s President and Chief Executive Officer is the chief operating decision maker (“CODM”). The CODM uses segment sales and operating profit to allocate resources (including employees and financial or capital resources), to assess the performance of the segments and in the determination of the compensation for certain employees for each segment predominantly in the annual budget process. The CODM reviews forecast-to-actual variances in segment sales and operating profit on a monthly basis when making decisions about allocating capital and personnel to the segments.
The table below reconciles segment sales to segment operating profit with the expense categories presented reflecting the expenses that the Company has determined to be significant segment expenses. Significant segment expenses are the expense category details regularly provided to the CODM to allocate resources to the segments and to evaluate segment performance. Detailed segment data for the years ended December 31 is as follows ($ in millions):
BiotechnologyLife SciencesDiagnostics
Other (a)
Total Company
Year Ended December 31, 2024
Sales (GAAP)$6,759 $7,329 $9,787 $— $23,875 
Less:
Depreciation(151)(167)(394)(9)(721)
Amortization of intangible assets(863)(576)(192)— (1,631)
Impairments(b)
— (222)(43)— (265)
Other segment expenses(c)
(4,060)(5,485)(6,533)(317)(16,395)
Operating profit$1,685 $879 $2,625 $(326)$4,863 
Year Ended December 31, 2023
Sales (GAAP)$7,172 $7,141 $9,577 $— $23,890 
Less:
Depreciation(162)(129)(379)(5)(675)
Amortization of intangible assets(864)(429)(198)— (1,491)
Impairments(b)
(54)— (23)— (77)
Other segment expenses(c)
(4,183)(5,374)(6,571)(317)(16,445)
Operating profit$1,909 $1,209 $2,406 $(322)$5,202 
Year Ended December 31, 2022
Sales (GAAP)$8,758 $7,036 $10,849 $— $26,643 
Less:
Depreciation(190)(112)(387)(9)(698)
Amortization of intangible assets(812)(419)(203)— (1,434)
Other segment expenses(c)
(4,748)(5,091)(6,823)(313)(16,975)
Operating profit$3,008 $1,414 $3,436 $(322)$7,536 
(a) Other consists of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance.
(b) For information on the impairments, refer to Note 10.
(c) Other segment expenses for each reportable segment include cost of sales, selling general and administrative expenses, research and development (“R&D”) expenses, excluding depreciation, amortization of intangible assets and impairments. Included within these categories of expenses are overhead expenses, stock compensation expense, restructuring charges and allocated corporate expenses.
The following table presents additional detailed segment data for the years ended December 31 ($ in millions):
202420232022
Identifiable assets:
Biotechnology$34,605 $37,421 $37,536 
Life Sciences23,211 23,730 17,572 
Diagnostics14,204 14,552 14,722 
Other5,522 8,785 9,739 
Discontinued operations— — 4,781 
Total$77,542 $84,488 $84,350 
Capital expenditures, gross:
Biotechnology$447 $417 $405 
Life Sciences391 320 325 
Diagnostics550 546 382 
Other4 100 6 
Total$1,392 $1,383 $1,118 
Operations in Geographical Areas:
Year Ended December 31
($ in millions)202420232022
Sales:
United States$9,927 $9,579 $11,289 
China2,805 3,143 3,611 
All other (each country individually less than 5% of total sales)
11,143 11,168 11,743 
Total$23,875 $23,890 $26,643 
Property, plant and equipment, net:
United States$2,585 $2,304 $1,839 
United Kingdom519 371 239 
Sweden384 425 429 
Germany251 238 204 
All other (each country individually less than 5% of total property, plant and equipment, net)
1,251 1,215 998 
Total$4,990 $4,553 $3,709