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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
As discussed in Note 2, goodwill arises from the purchase price for acquired businesses exceeding the fair value of tangible and intangible assets acquired less assumed liabilities and noncontrolling interests. Management assesses the goodwill of each of its reporting units for impairment at least annually at the beginning of the fourth quarter and as “triggering” events occur that indicate that it is more likely than not that an impairment exists. The Company elected to bypass the optional qualitative goodwill assessment allowed by applicable accounting standards and performed a quantitative impairment test for all reporting units as this was determined to be the most effective method to assess for impairment across the reporting units.
The Company estimates the fair value of its reporting units primarily using a market-based approach and an income approach in certain instances to corroborate value. The market-based approach relies on current trading multiples of EBITDA for companies operating in businesses similar to each of the Company’s reporting units, in addition to recent available market sale transactions of comparable businesses. In determining the estimated fair value of each reporting unit, the Company also applies a control premium. The income approach relies on the discounted cash flow model, including assumptions about the amount and timing of future expected cash flows, terminal value growth rates and discount rates. If the estimated fair value of the reporting unit is less than its carrying value, the Company must perform additional analysis to determine if the reporting unit’s goodwill has been impaired.
During the second quarter of 2025, the Company decided to reorganize and integrate certain businesses within its Life Sciences segment to better serve the Company’s customers in new market segments and to respond to current market conditions. The reorganization of the Life Sciences segment resulted in a change to the businesses included in two of the Company’s five reporting units for goodwill beginning at the start of the third quarter of 2025. The Company used the relative fair value method to reallocate goodwill between the impacted reporting units within the Life Sciences segment. The Company performed the quantitative goodwill impairment analysis immediately prior to and following the change in the reporting units. As of the date of the impairment tests, the carrying value of the goodwill included in each individual reporting unit ranged from approximately $1.2 billion to $23.1 billion for both the previous reporting units and for the current reporting units (after the changes within Life Sciences). No impairments of goodwill were identified in either of the impairment evaluations before or immediately after the change in reporting units.
As of December 31, 2025, the Company had five reporting units for goodwill impairment testing. As of the date of the 2025 annual impairment test, the carrying value of the goodwill included in each individual reporting unit ranged from approximately $1.2 billion to $23.1 billion. No goodwill impairment charges were recorded for any of the years ended December 31, 2025, 2024 and 2023 and no “triggering” events have occurred subsequent to the performance of the 2025 annual impairment test. The factors used by management in its impairment analysis are inherently subject to uncertainty. If actual results are not consistent with management’s estimates and assumptions, goodwill and other intangible assets may be overstated, and a charge would need to be taken against net earnings.
The following is a rollforward of the Company’s goodwill by segment ($ in millions):  
BiotechnologyLife SciencesDiagnosticsTotal
Balance, January 1, 2024$22,477 $12,221 $6,910 $41,608 
Attributable to 2024 acquisitions— 305 — 305 
Adjustments due to finalization of purchase price adjustments— (23)— (23)
Foreign currency translation and other(1,040)(198)(155)(1,393)
Balance, December 31, 202421,437 12,305 6,755 40,497 
Adjustments due to finalization of purchase price allocations— 9 — 9 
Foreign currency translation and other1,876 542 227 2,645 
Balance, December 31, 2025$23,313 $12,856 $6,982 $43,151 
Finite-lived intangible assets are amortized over their legal or estimated useful life. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets as of December 31 ($ in millions): 
20252024
 Gross Carrying
Amount		Accumulated
Amortization		Gross Carrying
Amount		Accumulated
Amortization
Finite-lived intangibles:
Patents and technology$16,229 $(6,100)$14,781 $(4,641)
Customer relationships, trade names and other intangibles10,505 (5,703)9,972 (4,781)
Total finite-lived intangibles26,734 (11,803)24,753 (9,422)
Indefinite-lived intangibles:
Trademarks and trade names2,886 — 3,237 — 
Total intangibles$29,620 $(11,803)$27,990 $(9,422)
Refer to Note 2 for information on the intangible assets acquired.
The Company reviews identified intangible assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Indefinite-lived intangibles are subject to impairment testing at least annually or more frequently if events or changes in circumstances indicate that potential impairment exists.
During the third quarter of 2024, the Company concluded that it had an impairment indicator for an indefinite-lived trade name within the genomics consumable business included in the Life Sciences segment, primarily as a result of softness in the genomics market, including but not limited to the discontinuation of certain drug development programs announced in the third quarter of 2024, weaker demand at some of the business’s larger customers as well as reduced demand due to the reprioritization of drug development programs at other customers. The Company engaged a third-party valuation specialist to assist in the valuation of the trade name using a relief from royalty method of valuation. The significant assumptions in the relief from royalty method included, but were not limited to, revenue, revenue growth rates, planned use of the trade name, royalty rates and discount rates. The Company recorded a noncash impairment charge of $222 million pretax ($169 million after-tax) related to the trade name for the year ended December 31, 2024, which is included in SG&A expenses in the accompanying Consolidated Statements of Earnings.
During the second quarter of 2025, the Company decided to reorganize and integrate certain businesses within the Life Sciences segment. As a result of these plans, the Company concluded that the same indefinite-lived trade name within the genomics consumables business was no longer considered to be indefinite-lived, resulting in an impairment indicator. The Company engaged a third-party valuation specialist to assist in the valuation of the trade name using a relief from royalty method of valuation. The Company recorded a noncash impairment charge of $432 million pretax ($328 million after-tax) related to the trade name for the year ended December 31, 2025, which is included in SG&A expenses in the accompanying Consolidated Statements of Earnings. The amount of the impairment was primarily attributable to the conclusion that the trade name was no longer indefinite-lived, as well as current lower levels of demand in the genomics market, including at emerging biotechnology customers and at two large customers. After recognition of the impairment in the second quarter of 2025, the remaining net book value of the trade name was $76 million and will be amortized over the asset’s remaining useful life of eight years. The Company continues to monitor for any changes to the business performance or key assumptions.
In connection with both trade name impairments mentioned above, the Company also tested the related long-lived asset group and the related reporting unit goodwill for impairment, and in each case the Company identified no impairment.
Additionally, during 2025, the Company identified impairment triggers for certain long-lived technology assets, a trade name and other assets in the Biotechnology, Life Sciences and Diagnostics segments. During the year ended December 31, 2025, the Company recorded impairment charges of $130 million related to these long-lived assets. During 2024, the Company identified impairment triggers for a trade name in the Diagnostics segment and recorded an impairment charge of $43 million in the year ended December 31, 2024. The Company identified impairment triggers in 2023 in the Diagnostics and Biotechnology segments which resulted in impairment charges for certain long-lived assets, including technology and other assets totaling $77 million. The 2025, 2024 and 2023 impairment charges were recorded in SG&A expenses in the accompanying Consolidated Statements of Earnings, except for $29 million and $14 million in 2025 and 2023, respectively, which were recorded in cost of sales in the accompanying Consolidated Statements of Earnings.
Total intangible amortization expense in 2025, 2024 and 2023 was approximately $1.7 billion, $1.6 billion and $1.5 billion, respectively. Based on the intangible assets recorded as of December 31, 2025, amortization expense is estimated to be approximately $1.7 billion during 2026, $1.6 billion during 2027, $1.6 billion during 2028, $1.6 billion during 2029 and $1.4 billion during 2030.