Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Components of Purchase Price

The components of the purchase price and net assets acquired are as follows:

(In billions)	The Binding Site
Purchase price
Cash paid	$	2.42
Debt settled	0.31
Cash acquired	(0.02)
	$	2.71
Net assets acquired
Definite-lived intangible assets	$	1.07
Goodwill	1.77
Net tangible assets	0.15
Deferred tax assets (liabilities)	(0.28)
	$	2.71

The components of the purchase price and net assets acquired for 2021 acquisitions are as follows:

(In millions)	PPD		PeproTech		European Viral Vector Business		Mesa Biotech		Lengnau biologics manufacturing facility		Other
Purchase price
Cash paid	$	17,237	$	1,946	$	848	$	421	$	17	$	298
Fair value of equity awards exchanged	43		—		—		—		—		—
Fair value of contingent consideration	—		—		—		65		1		117
Cash acquired	(1,244)		(83)		(18)		(14)		—		(12)
	$	16,036	$	1,863	$	830	$	472	$	18	$	403
Net assets acquired
Current assets	$	2,477	$	58	$	39	$	54	$	—	$	12
Property, plant and equipment	527		18		59		2		93		2
Definite-lived intangible assets:
Customer relationships	6,257		510		302		—		—		2
Product technology	—		282		25		279		—		224
Tradenames	594		—		—		2		—		2
Backlog	1,038		—		—		—		—		—
Goodwill	13,949		1,198		600		237		18		198
Other assets	1,060		11		3		3		364		2
Contract liabilities	(1,539)		—		(59)		—		—		(1)
Deferred tax assets (liabilities)	(1,782)		(192)		(80)		(72)		—		(27)
Finance lease liabilities	(90)		—		(24)		—		(82)		—
Debt assumed	(4,299)		—		—		—		—		—
Other liabilities assumed	(2,034)		(22)		(35)		(33)		(375)		(11)
Redeemable noncontrolling interest	(122)		—		—		—		—		—
	$	16,036	$	1,863	$	830	$	472	$	18	$	403

During 2022, we finalized the allocations of the purchase price for the Lengnau biologics manufacturing facility, PPD, Inc. and PeproTech, Inc., largely with respect to definite-lived intangible assets, property, plant and equipment, contract liabilities,

equity method investments, asset retirement obligations, defined benefit pension plans, assumed contingent consideration and the related deferred taxes. The adjustments to the income statement recorded during 2022 were not material.

Schedule of Pro Forma Information

The following unaudited pro forma information provides the effect of the company's 2021 acquisition of PPD as if the acquisition had occurred on January 1, 2020:

	Year Ended
	December 31,		December 31,
(In millions)	2021		2020
Revenues	$	44,886	$	36,887
Net income attributable to Thermo Fisher Scientific Inc.	$	7,369	$	5,361