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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Revenues        
Revenues $ 10,687 $ 10,970 $ 21,397 $ 22,788
Costs and operating expenses:        
Selling, general and administrative expenses 2,145 2,209 4,264 4,486
Research and development expenses 345 365 691 729
Restructuring and other costs 183 24 295 26
Total costs and operating expenses 9,109 8,969 18,256 17,966
Operating income 1,578 2,001 3,141 4,822
Interest income 178 36 324 54
Interest expense (326) (148) (626) (284)
Other income/(expense) 0 28 (46) (135)
Income before income taxes 1,430 1,917 2,793 4,457
Provision for income taxes (52) (198) (98) (499)
Equity in earnings/(losses) of unconsolidated entities (16) (51) (41) (70)
Net income 1,362 1,668 2,654 3,888
Less: net income/(losses) attributable to noncontrolling interests and redeemable noncontrolling interest 1 4 4 9
Net income attributable to Thermo Fisher Scientific Inc. $ 1,361 $ 1,664 $ 2,650 $ 3,879
Earnings per share attributable to Thermo Fisher Scientific Inc.        
Basic (in dollars per share) $ 3.53 $ 4.25 $ 6.86 $ 9.90
Diluted (in dollars per share) $ 3.51 $ 4.22 $ 6.83 $ 9.83
Weighted average shares        
Basic (in shares) 386 392 386 392
Diluted (in shares) 388 394 388 394
Product revenues        
Revenues        
Revenues $ 6,271 $ 7,003 $ 12,675 $ 15,020
Costs and operating expenses:        
Cost of revenues 3,278 3,516 6,615 7,071
Service revenues        
Revenues        
Revenues 4,416 3,967 8,722 7,768
Costs and operating expenses:        
Cost of revenues $ 3,158 $ 2,855 $ 6,391 $ 5,654