CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 9,852	$ 4,009
Short-term investments	253	1,561
Accounts receivable, less allowances of $147 and $173	8,900	8,191
Inventories	5,425	4,978
Contract assets, net	1,666	1,435
Other current assets	2,612	1,964
Total current assets	28,707	22,137
Property, plant and equipment, net	10,565	9,306
Acquisition-related intangible assets, net	15,838	15,533
Other assets	5,871	4,492
Goodwill	49,362	45,853
Total assets	110,343	97,321
Current liabilities:
Short-term obligations and current maturities of long-term obligations	3,533	2,214
Accounts payable	3,622	3,079
Accrued payroll and employee benefits	1,995	1,988
Contract liabilities	2,710	2,852
Other accrued expenses	3,329	3,199
Total current liabilities	15,189	13,332
Deferred income taxes	1,493	1,268
Other long-term liabilities	4,273	3,989
Long-term obligations	35,852	29,061
Commitments and contingencies (Note 5)
Redeemable noncontrolling interest	122	120
Thermo Fisher Scientific Inc. shareholders’ equity:
Preferred stock, $100 par value, 50,000 shares authorized; none issued	0	0
Common stock, $1 par value, 1,200,000,000 shares authorized; 445,160,301 and 443,841,240 shares issued	445	444
Capital in excess of par value	18,563	17,962
Retained earnings	59,156	53,102
Treasury stock at cost, 68,938,831 and 63,066,906 shares	(22,309)	(19,226)
Accumulated other comprehensive income/(loss)	(2,448)	(2,697)
Total Thermo Fisher Scientific Inc. shareholders’ equity	53,407	49,584
Noncontrolling interests	7	(33)
Total equity	53,415	49,551
Total liabilities, redeemable noncontrolling interest and equity	$ 110,343	$ 97,321