Segment Information

12 Months Ended

Dec. 31, 2025

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), predominantly through the annual budget process, to evaluate and assess the performance of the segments and to evaluate the performance of certain employees for the determination of compensation. 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 is as follows ($ in millions):

	Biotechnology		Life Sciences		Diagnostics		Total Reportable Segments		Other(a)		Total Company
Year Ended December 31, 2025
Sales (GAAP)	$	7,293	$	7,334	$	9,941	$	24,568	$	—	$	24,568
Less:
Depreciation	(149)		(185)		(407)		(741)		(9)		(750)
Amortization of intangible assets	(902)		(604)		(191)		(1,697)		—		(1,697)
Impairments(b)	(101)		(446)		(15)		(562)		—		(562)
Other segment items(c)	(4,277)		(5,579)		(6,678)		(16,534)		(335)		(16,869)
Operating profit	$	1,864	$	520	$	2,650	$	5,034	$	(344)	$	4,690
Year Ended December 31, 2024
Sales (GAAP)	$	6,759	$	7,329	$	9,787	$	23,875	$	—	$	23,875
Less:
Depreciation	(151)		(167)		(394)		(712)		(9)		(721)
Amortization of intangible assets	(863)		(576)		(192)		(1,631)		—		(1,631)
Impairments(b)	—		(222)		(43)		(265)		—		(265)
Other segment items(c)	(4,060)		(5,485)		(6,533)		(16,078)		(317)		(16,395)
Operating profit	$	1,685	$	879	$	2,625	$	5,189	$	(326)	$	4,863
Year Ended December 31, 2023
Sales (GAAP)	$	7,172	$	7,141	$	9,577	$	23,890	$	—	$	23,890
Less:
Depreciation	(162)		(129)		(379)		(670)		(5)		(675)
Amortization of intangible assets	(864)		(429)		(198)		(1,491)		—		(1,491)
Impairments(b)	(54)		—		(23)		(77)		—		(77)
Other segment items(c)	(4,183)		(5,374)		(6,571)		(16,128)		(317)		(16,445)
Operating profit	$	1,909	$	1,209	$	2,406	$	5,524	$	(322)	$	5,202

(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 items for each reportable segment include cost of sales, SG&A expenses and 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 identifiable assets as of the years ended December 31 ($ in millions):

	2025		2024		2023
Biotechnology	$	37,337	$	34,605	$	37,421
Life Sciences	23,112		23,211		23,730
Diagnostics	14,748		14,204		14,552
Other	8,267		5,522		8,785
Total	$	83,464	$	77,542	$	84,488

The following table presents capital expenditures, gross for the years ended December 31 ($ in millions):

	2025		2024		2023
Biotechnology	$	370	$	447	$	417
Life Sciences	186		391		320
Diagnostics	592		550		546
Other	8		4		100
Total	$	1,156	$	1,392	$	1,383

Operations in Geographical Areas:

	Year Ended December 31
($ in millions)	2025		2024		2023
Sales:
United States	$	9,981	$	9,927	$	9,579
China	2,631		2,805		3,143
All other (each country individually less than 5% of total sales)	11,956		11,143		11,168
Total	$	24,568	$	23,875	$	23,890
Property, plant and equipment, net:
United States	$	2,757	$	2,585	$	2,304
United Kingdom	586		519		371
Sweden	477		384		425
Germany	287		251		238
All other (each country individually less than 5% of total property, plant and equipment, net)	1,424		1,251		1,215
Total	$	5,531	$	4,990	$	4,553