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Other (Income)/Deductions—Net - Schedule of Other (Income)/Deductions—Net (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Jun. 29, 2025
Jun. 30, 2024
Other Income and Expenses [Abstract]        
Interest income $ (156) $ (130) $ (299) $ (259)
Interest expense 654 778 1,308 1,568
Net interest expense [1] 498 648 1,009 1,310
Net (gains) losses recognized during the period on equity securities [2] (75) 342 295 [3] 317 [3]
Net periodic benefit costs/(credits) other than service costs (101) (106) (260) (209)
Certain legal matters, net [4] 422 169 564 377
Certain asset impairments [5] 93 240 317 349
Haleon equity method (income)/loss 0 (40) 0 48
Other, net [6] (97) (146) (233) (404)
Other (income)/deductions––net $ 739 $ 1,107 $ 1,692 $ 1,787
[1] The decrease in net interest expense in the second quarter and first six months of 2025 reflects (i) a decrease in interest expense primarily driven by a reduction in commercial paper outstanding and (ii) an increase in interest income due to higher total average investment asset balance compared to 2024.
[2] Reported in Other (income)/deductions––net. See Note 4.
[3] The net losses in the first six months of 2025 include, among other things, a net loss of $144 million related to our investment in Haleon, composed of unrealized losses of $1.0 billion, partially offset by $900 million in realized gains on the sales of our remaining investment.
[4] The amounts for the second quarter and first six months of 2025 primarily include certain product liability and other legal expenses. The amounts for the second quarter and first six months of 2024 primarily included certain product liability expenses related to products discontinued and/or divested by Pfizer.
[5] The first six months of 2025 primarily includes an intangible asset impairment charge associated with our Biopharma segment of $210 million for KRAS G12D, a Phase 2 indefinite-lived out-licensed asset that was discontinued by our out-licensing partner. The amounts for the second quarter and first six months of 2024 included a $240 million intangible asset impairment charge, associated with our Biopharma segment that represented IPR&D related to a Phase 3 study for the treatment of DMD, which reflected unfavorable clinical trial results.
[6] The first six months of 2025 primarily include dividend income of $111 million from our investment in ViiV. The first six months of 2024 included, among other things, a $150 million realized gain on the partial sale of our investment in Haleon and dividend income of $135 million from our investment in ViiV.