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Segment, Geographic and Other Revenue Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Revenues: [1] $ 58,496.0 $ 100,330.0 $ 81,288.0
Earnings [1],[2],[3] 1,058.0 34,729.0 24,311.0
Depreciation and amortization [4] 6,290.0 5,064.0 5,191.0
Write-offs [5] 6,199.0 1,183.0 0.0
Restructuring charges/(credits) and implementation costs and additional depreciation, asset restructuring 2,200.0 1,400.0 1,300.0
Certain asset impairments [6] 3,024.0 421.0 86.0
Net (gains)/losses recognized during the period on equity securities [7] (1,590.0) [8] 1,273.0 [8] (1,344.0)
Net periodic benefit, actuarial valuation and other pension and postretirement plan, gain (loss)     $ 1,600.0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]     Other income/(deductions)—net
Selling, informational and administrative expenses [Member]      
Segment Reporting Information [Line Items]      
Restructuring charges/(credits) and implementation costs and additional depreciation, asset restructuring 290.0 562.0 $ 450.0
Paxlovid, EUA-Labeled [Member]      
Segment Reporting Information [Line Items]      
Reversal of revenue 3,500.0    
Write-offs 4,200.0    
ViiV [Member]      
Segment Reporting Information [Line Items]      
Dividend income (265.0) (314.0) (166.0)
Other Business Activities [Member]      
Segment Reporting Information [Line Items]      
Revenues: [1],[9] 1,310.0 1,342.0 1,731.0
Earnings [1],[9] (19,050.0) (14,370.0) (13,455.0)
Depreciation and amortization [4],[9] 654.0 626.0 590.0
Write-offs 6,200.0 1,200.0  
Adjustment to cost of sales   1,700.0  
Other Business Activities [Member] | Paxlovid [Member]      
Segment Reporting Information [Line Items]      
Charges to cost of sales related to raw materials   500.0  
Reconciling Items [Member] | Amortization of Intangible Assets [Member]      
Segment Reporting Information [Line Items]      
Earnings [1] (4,733.0) (3,609.0) (3,746.0)
Depreciation and amortization [4] 4,733.0 3,609.0 3,746.0
Reconciling Items [Member] | Acquisition-Related Items [Member]      
Segment Reporting Information [Line Items]      
Earnings [1] (1,874.0) (832.0) (139.0)
Depreciation and amortization [4] (11.0) (20.0) (21.0)
Reconciling Items [Member] | Certain Significant Items [Member]      
Segment Reporting Information [Line Items]      
Earnings [1],[10] (3,917.0) (3,608.0) 1,003.0
Depreciation and amortization [4],[10] 32.0 36.0 87.0
Biopharma [Member]      
Segment Reporting Information [Line Items]      
Revenues: 57,186.0 98,988.0 79,557.0
Biopharma [Member] | Paxlovid, EUA-Labeled [Member]      
Segment Reporting Information [Line Items]      
Reversal of revenue 3,500.0    
Biopharma [Member] | ViiV [Member]      
Segment Reporting Information [Line Items]      
Dividend income (265.0) (314.0) (166.0)
Biopharma [Member] | Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Revenues: [1] 57,186.0 98,988.0 79,557.0
Earnings [1] 30,632.0 57,148.0 40,647.0
Depreciation and amortization [4] $ 882.0 $ 813.0 $ 789.0
[1] Earnings = Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s revenues and earnings in 2023 reflect a non-cash revenue reversal of $3.5 billion (see Note 17C). Biopharma’s earnings also include dividend income from our investment in ViiV of $265 million in 2023, $314 million in 2022 and $166 million in 2021.
[2] 2022 v. 2021––The decrease in domestic income is primarily related to net losses on equity securities in 2022 versus net gains on equity securities in 2021, lower net periodic benefit credits and higher restructuring charges and certain acquisition-related costs, partially offset by Paxlovid income and lower acquired IPR&D expenses. The increase in international income is primarily related to Paxlovid and Comirnaty income partially offset by lower net periodic benefit credits.
[3] 2023 v. 2022––The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs, Amortization of intangible assets, and Selling, informational and administrative expenses, partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022.
[4] Certain production facilities are shared. Depreciation is allocated based on estimates of physical production.
[5] See Notes 8A and 17A.
[6] 2023 primarily represents intangible asset impairment charges of $3.0 billion, of which $2.9 billion is associated with our Biopharma segment ($2.8 billion recorded in the fourth quarter), including: $1.4 billion for etrasimod (Velsipity) IPR&D, based on a change in development plans for additional indications and overall revenue expectations, $964 million for Prevnar 13 developed technology rights ($834 million for pediatric and $130 million for adult), due to updated commercial forecasts mainly reflecting a transition to higher serotype coverage, and $486 million for various other IPR&D assets and developed technology rights, due to updated commercial forecasts mainly reflecting competitive pressures and/or prioritization decisions. 2023 also includes $128 million associated with Other business activities, related to IPR&D and developed technology rights for acquired software assets and reflects unfavorable pivotal trial results and updated commercial forecasts. 2022 represented intangible asset impairment charges associated with our Biopharma segment of: $200 million for an IPR&D asset for the unapproved indication of symptomatic dilated cardiomyopathy due to a mutation of the gene encoding the lamin A/C protein that resulted from the Phase 3 trial reaching futility at a pre-planned interim analysis and $171 million for developed technology rights due to updated commercial forecasts mainly reflecting competitive pressures. 2022 also included intangible asset impairment charges of $50 million associated with PC1, related to finite-lived licensing agreements and reflected updated contract manufacturing forecasts reflecting changes to market dynamics.
[7]
(c)2023 net gains primarily include, among other things, a realized gain of $1.7 billion related to our investment in Telavant Holdings, Inc. and unrealized gains of $297 million related to our investment in Cerevel Therapeutics Holdings, Inc (Cerevel), partially offset by unrealized losses of $292 million related to our investment in BioNTech. 2022 net losses included, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. 2021 net gains included, among other things, unrealized gains of $1.6 billion related to investments in BioNTech and Cerevel.
[8] Reported in Other (income)/deductions––net. See Note 4.
[9] Other business activities include revenues and costs associated with Business Innovation and costs that we do not allocate to our operating segments, per above, including acquired IPR&D expenses in the periods presented (see Notes 2A and 2E). In 2023, earnings include approximately $6.2 billion of inventory write-offs and related charges to Cost of sales mainly due to lower-than-expected demand for our COVID-19 products. In 2022, earnings included COVID-19-related charges of approximately $1.7 billion to Cost of sales, composed of (i) inventory write-offs of approximately $1.2 billion related to COVID-19 products that exceeded or were expected to exceed their approved shelf-lives prior to being used and (ii) charges of approximately $0.5 billion, primarily related to excess raw materials for Paxlovid.
[10] Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in 2023 include, among other items: (i) intangible asset impairment charges of $3.0 billion recorded in Other (income)/deductions––net and (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion ($290 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs), partially offset by (iii) net gains on equity securities of $1.6 billion recorded in Other (income)/deductions––net. Earnings in 2022 included, among other items: (i) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.4 billion ($562 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs) and (ii) net losses on equity securities of $1.3 billion recorded in Other (income)/deductions––net. Earnings in 2021 included, among other items: (i) actuarial valuation and other pension and postretirement plan gains of $1.6 billion recorded in Other (income)/deductions––net and (ii) net gains on equity securities of $1.3 billion recorded in Other (income)/deductions––net, partially offset by (iii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.3 billion ($450 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs). See Notes 3 and 4