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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Total revenues $ 42,879 $ 42,857 $ 44,915
Costs and operating expenses:      
Selling, general and administrative expenses 8,595 8,445 8,993
Research and development expenses 1,390 1,337 1,471
Restructuring and other costs 379 459 114
Total costs and operating expenses 35,542 35,998 36,522
Operating income 7,337 6,859 8,393
Interest income 1,078 879 272
Interest expense (1,390) (1,375) (726)
Other income/(expense) 12 (65) (104)
Income before income taxes 7,037 6,298 7,835
Benefit from/(provision for) income taxes (657) (284) (703)
Equity in earnings/(losses) of unconsolidated entities (42) (59) (172)
Net income 6,338 5,955 6,960
Less: net income (losses) attributable to noncontrolling interests and redeemable noncontrolling interest 3 (40) 10
Net income attributable to Thermo Fisher Scientific Inc. $ 6,335 $ 5,995 $ 6,950
Earnings per share attributable to Thermo Fisher Scientific Inc.      
Basic (in dollars per share) $ 16.58 $ 15.52 $ 17.75
Diluted (in dollars per share) $ 16.53 $ 15.45 $ 17.63
Weighted average shares      
Basic (in shares) 382 386 392
Diluted (in shares) 383 388 394
Product revenues      
Revenues      
Total revenues $ 25,034 $ 25,243 $ 28,548
Costs and operating expenses:      
Cost of revenues 12,523 13,168 14,247
Service revenues      
Revenues      
Total revenues 17,845 17,614 16,367
Costs and operating expenses:      
Cost of revenues $ 12,654 $ 12,589 $ 11,697