Restructuring and Other Costs (Tables)

9 Months Ended

Sep. 28, 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		Nine months ended
(In millions)	September 28, 2024		September 28, 2024
Life Sciences Solutions	$	10	$	26
Analytical Instruments	(8)		2
Specialty Diagnostics	7		12
Laboratory Products and Biopharma Services	36		107
Corporate	—		4
	$	45	$	151

Schedule 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) (c)	77
Payments	(84)
Balance at September 28, 2024	$	53

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

(b)Excludes $74 million of net charges, principally $54 million of charges for impairment of long-lived assets in the Laboratory Products and Biopharma Services and Life Sciences Solutions segments.

(c)Excludes $13 million of charges in the Laboratory Products and Biopharma Services segment for impairments of a disposal group that was held for sale beginning in the third quarter of 2023. The loss attributable to Thermo Fisher Scientific Inc. was reduced by $6 million attributable to a noncontrolling interest.