Restructuring and Other Costs (Tables)

6 Months Ended

Jun. 29, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Costs by Segment

Restructuring and other costs by segment are as follows:

	Three months ended		Six months ended
(In millions)	June 29, 2024		June 29, 2024
Life Sciences Solutions	$	14	$	16
Analytical Instruments	3		10
Specialty Diagnostics	—		5
Laboratory Products and Biopharma Services	57		71
Corporate	3		4
	$	77	$	106

Summary of Changes in the Company's Accrued Restructuring Balance

The following table summarizes the changes in the company’s accrued restructuring balance, which is included in other accrued expenses in the accompanying balance sheet. Other amounts reported as restructuring and other costs in the accompanying statements of income have been summarized in the notes to the table.

(In millions)	Total (a)
Balance at December 31, 2023	$	60
Net restructuring charges incurred in 2024 (b)	51
Payments	(60)
Currency translation	(2)
Balance at June 29, 2024	$	49

(a)The movements in the restructuring liability principally consist of severance and other costs associated with facility consolidations.

(b)Excludes $55 million of net charges, principally $47 million of charges for impairment of long-lived assets in the Laboratory Products and Biopharma Services and Life Sciences Solutions segments.