Thermo Fisher Scientific (TMO) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Oct. 01, 2022 shares
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 2022
Document Transition Report	false
Entity File Number	1-8002
Entity Registrant Name	THERMO FISHER SCIENTIFIC INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2209186
Entity Address, Address Line One	168 Third Avenue
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02451
City Area Code	781
Local Phone Number	622-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	392,195,557
Entity Central Index Key	0000097745
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Common Stock, $1.00 par value
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	TMO
Security Exchange Name	NYSE
0.750% Notes due 2024
Entity Listings [Line Items]
Title of 12(b) Security	0.750% Notes due 2024
Trading Symbol	TMO 24A
Security Exchange Name	NYSE
0.125% Notes due 2025
Entity Listings [Line Items]
Title of 12(b) Security	0.125% Notes due 2025
Trading Symbol	TMO 25B
Security Exchange Name	NYSE
2.000% Notes due 2025
Entity Listings [Line Items]
Title of 12(b) Security	2.000% Notes due 2025
Trading Symbol	TMO 25
Security Exchange Name	NYSE
1.400% Notes due 2026
Entity Listings [Line Items]
Title of 12(b) Security	1.400% Notes due 2026
Trading Symbol	TMO 26A
Security Exchange Name	NYSE
1.450% Notes due 2027
Entity Listings [Line Items]
Title of 12(b) Security	1.450% Notes due 2027
Trading Symbol	TMO 27
Security Exchange Name	NYSE
1.750% Notes due 2027
Entity Listings [Line Items]
Title of 12(b) Security	1.750% Notes due 2027
Trading Symbol	TMO 27B
Security Exchange Name	NYSE
0.500% Notes due 2028
Entity Listings [Line Items]
Title of 12(b) Security	0.500% Notes due 2028
Trading Symbol	TMO 28A
Security Exchange Name	NYSE
1.375% Notes due 2028
Entity Listings [Line Items]
Title of 12(b) Security	1.375% Notes due 2028
Trading Symbol	TMO 28
Security Exchange Name	NYSE
1.950% Notes due 2029
Entity Listings [Line Items]
Title of 12(b) Security	1.950% Notes due 2029
Trading Symbol	TMO 29
Security Exchange Name	NYSE
0.875% Notes due 2031
Entity Listings [Line Items]
Title of 12(b) Security	0.875% Notes due 2031
Trading Symbol	TMO 31
Security Exchange Name	NYSE
2.375% Notes due 2032
Entity Listings [Line Items]
Title of 12(b) Security	2.375% Notes due 2032
Trading Symbol	TMO 32
Security Exchange Name	NYSE
2.875% Notes due 2037
Entity Listings [Line Items]
Title of 12(b) Security	2.875% Notes due 2037
Trading Symbol	TMO 37
Security Exchange Name	NYSE
1.500% Notes due 2039
Entity Listings [Line Items]
Title of 12(b) Security	1.500% Notes due 2039
Trading Symbol	TMO 39
Security Exchange Name	NYSE
1.875% Notes due 2049
Entity Listings [Line Items]
Title of 12(b) Security	1.875% Notes due 2049
Trading Symbol	TMO 49
Security Exchange Name	NYSE

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($)	Oct. 01, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,919,000,000	$ 4,477,000,000
Accounts receivable, less allowances of $185 and $150	7,671,000,000	7,977,000,000
Inventories	5,722,000,000	5,051,000,000
Contract assets, net	1,248,000,000	968,000,000
Other current assets	1,739,000,000	1,640,000,000
Total current assets	19,299,000,000	20,113,000,000
Property, plant and equipment, net	8,628,000,000	8,333,000,000
Acquisition-related intangible assets, net	17,813,000,000	20,113,000,000
Other assets	4,308,000,000	4,640,000,000
Goodwill	40,488,000,000	41,924,000,000
Total assets	90,536,000,000	95,123,000,000
Current liabilities:
Short-term obligations and current maturities of long-term obligations	1,010,000,000	2,537,000,000
Accounts payable	2,471,000,000	2,867,000,000
Accrued payroll and employee benefits	1,864,000,000	2,427,000,000
Contract liabilities	2,567,000,000	2,655,000,000
Other accrued expenses	3,206,000,000	2,950,000,000
Total current liabilities	11,118,000,000	13,436,000,000
Deferred income taxes	3,140,000,000	3,837,000,000
Other long-term liabilities	4,401,000,000	4,540,000,000
Long-term obligations	28,150,000,000	32,333,000,000
Redeemable noncontrolling interest	119,000,000	122,000,000
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; 440,352,770 and 439,154,741 shares issued	440,000,000	439,000,000
Capital in excess of par value	16,596,000,000	16,174,000,000
Retained earnings	40,452,000,000	35,431,000,000
Treasury stock at cost, 48,157,213 and 44,720,112 shares	(11,011,000,000)	(8,922,000,000)
Accumulated other comprehensive items	(2,928,000,000)	(2,329,000,000)
Total Thermo Fisher Scientific Inc. shareholders’ equity	43,549,000,000	40,793,000,000
Noncontrolling interests	59,000,000	62,000,000
Total equity	43,608,000,000	40,855,000,000
Total liabilities, redeemable noncontrolling interest and equity	$ 90,536,000,000	$ 95,123,000,000

Consolidated Balance Sheet (U_2

Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance	$ 185	$ 150
Preferred stock, $100 par value - par value (in dollars per share)	$ 100	$ 100
Preferred stock, $100 par value - shares authorized (in shares)	50,000	50,000
Preferred stock, $100 par value - shares issued (in shares)	0	0
Common stock, $1 par value - par value (in dollars per share)	$ 1	$ 1
Common stock, $1 par value - shares authorized (in shares)	1,200,000,000	1,200,000,000
Common stock, $1 par value - shares issued (in shares)	440,352,770	439,154,741
Treasury stock at cost (in shares)	48,157,213	44,720,112

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Revenues
Revenues	$ 10,677	$ 9,330	$ 33,465	$ 28,509
Costs and operating expenses:
Selling, general and administrative expenses	2,208	2,004	6,694	5,729
Research and development expenses	351	351	1,080	1,014
Restructuring and other costs	33	18	59	151
Total costs and operating expenses	8,967	7,052	26,933	21,019
Operating income	1,710	2,278	6,532	7,490
Interest income	68	9	122	32
Interest expense	(173)	(128)	(457)	(375)
Other income/(expense)	(4)	18	(139)	(168)
Income before income taxes	1,601	2,177	6,058	6,979
Provision for income taxes	(31)	(271)	(530)	(906)
Equity in earnings/(losses) of unconsolidated entities	(72)	(3)	(142)	(4)
Net income	1,498	1,903	5,386	6,069
Less: net income attributable to noncontrolling interests and redeemable noncontrolling interest	3	1	12	2
Net income	$ 1,495	$ 1,902	$ 5,374	$ 6,067
Earnings per share attributable to Thermo Fisher Scientific Inc.
Basic (in dollars per share)	$ 3.82	$ 4.83	$ 13.72	$ 15.41
Diluted (in dollars per share)	$ 3.79	$ 4.79	$ 13.62	$ 15.29
Weighted average shares
Basic (in shares)	392	394	392	394
Diluted (in shares)	395	397	395	397
Product revenues
Revenues
Revenues	$ 6,583	$ 7,360	$ 21,603	$ 22,430
Costs and operating expenses:
Cost of revenues	3,494	3,298	10,565	9,977
Service revenues
Revenues
Revenues	4,094	1,970	11,862	6,079
Costs and operating expenses:
Cost of revenues	$ 2,881	$ 1,381	$ 8,535	$ 4,148

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Comprehensive income
Net income	$ 1,498	$ 1,903	$ 5,386	$ 6,069
Currency translation adjustment:
Currency translation adjustment (net of tax provision (benefit) of $157, $74, $419 and $169)	(216)	(32)	(632)	121
Unrealized gains and losses on hedging instruments:
Reclassification adjustment for losses included in net income (net of tax benefit of $0, $0, $1 and $5)	1	2	2	16
Pension and other postretirement benefit liability adjustments:
Pension and other postretirement benefit liability adjustments arising during the period (net of tax (provision) benefit of $(3), $(1), $(6) and $(3))	4	3	13	7
Amortization of net loss included in net periodic pension cost (net of tax benefit of $0, $2, $2 and $4)	4	3	8	9
Total other comprehensive items	(207)	(24)	(609)	153
Comprehensive income	1,291	1,879	4,777	6,222
Less: comprehensive income/(loss) attributable to noncontrolling interests and redeemable noncontrolling interest	0	1	2	2
Comprehensive income attributable to Thermo Fisher Scientific Inc.	$ 1,291	$ 1,878	$ 4,775	$ 6,220

Consolidated Statement of Com_2

Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Statement of Comprehensive Income [Abstract]
Tax provision (benefit) on currency translation adjustment	$ 157	$ 74	$ 419	$ 169
Tax benefit on reclassification adjustment for losses on hedging instruments recognized in net income	0	0	1	5
Tax benefit (provision) on pension and other postretirement benefit liability adjustments arising during the period	(3)	(1)	(6)	(3)
Tax benefit on amortization of net loss and prior service benefit included in net periodic pension cost	$ 0	$ 2	$ 2	$ 4

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Operating activities
Net income	$ 5,386	$ 6,069
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	730	614
Amortization of acquisition-related intangible assets	1,803	1,295
Change in deferred income taxes	(862)	(455)
Loss on early extinguishment of debt	26	197
Stock-based compensation	232	153
Other non-cash expenses, net	443	192
Changes in assets and liabilities, excluding the effects of acquisitions	(2,091)	(1,210)
Net cash provided by operating activities	5,667	6,855
Investing activities
Acquisitions, net of cash acquired	(39)	(1,519)
Purchase of property, plant and equipment	(1,693)	(1,692)
Proceeds from sale of property, plant and equipment	18	9
Other investing activities, net	80	(38)
Net cash used in investing activities	(1,634)	(3,240)
Financing activities
Net proceeds from issuance of debt	0	3,122
Repayment of debt	(375)	(2,803)
Proceeds from issuance of commercial paper	1,231	0
Repayments of commercial paper	(3,690)	0
Purchases of company common stock	(2,000)	(2,000)
Dividends paid	(338)	(292)
Net proceeds from issuance of company common stock under employee stock plans	57	101
Other financing activities, net	(86)	(14)
Net cash used in financing activities	(5,201)	(1,886)
Exchange rate effect on cash	(389)	(17)
(Decrease) increase in cash, cash equivalents and restricted cash	(1,557)	1,712
Cash, cash equivalents and restricted cash at beginning of period	4,491	10,336
Cash, cash equivalents and restricted cash at end of period	$ 2,934	$ 12,048

Consolidated Statement of Redee

Consolidated Statement of Redeemable Noncontrolling Interest and Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock, $1.00 par value	Capital in Excess of Par Value	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Items	Total Thermo Fisher Scientific Inc. Shareholders’ Equity	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2020		437,000,000
Beginning Balance at Dec. 31, 2020	$ 34,517	$ 437	$ 15,579	$ 28,116	$ (6,818)	$ (2,807)	$ 34,507	$ 10
Treasury stock beginning balance (in shares) at Dec. 31, 2020					40,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)		2,000,000			1,000,000
Issuance of shares under employees' and directors' stock plans	137	$ 2	228		$ (93)		137
Stock-based compensation	153		153				153
Purchases of company common stock (in shares)					4,000,000
Purchases of company common stock	(2,000)				$ (2,000)		(2,000)
Dividends declared	(307)			(307)			(307)
Net income	6,069			6,067			6,067	2
Other comprehensive items	153					153	153
Contributions from (distributions to) noncontrolling interests	35							35
Balance (in shares) at Oct. 02, 2021		439,000,000
Treasury stock ending balance (in shares) at Oct. 02, 2021					45,000,000
Ending Balance at Oct. 02, 2021	38,757	$ 439	15,960	33,876	$ (8,911)	(2,654)	38,710	47
Balance (in shares) at Jul. 03, 2021		438,000,000
Beginning Balance at Jul. 03, 2021	36,901	$ 438	15,826	32,076	$ (8,856)	(2,630)	36,854	47
Treasury stock beginning balance (in shares) at Jul. 03, 2021					45,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)		1,000,000			0
Issuance of shares under employees' and directors' stock plans	29	$ 1	83		$ (55)		29
Stock-based compensation	51		51				51
Dividends declared	(102)			(102)			(102)
Net income	1,903			1,902			1,902	1
Other comprehensive items	(24)					(24)	(24)
Contributions from (distributions to) noncontrolling interests	(1)							(1)
Balance (in shares) at Oct. 02, 2021		439,000,000
Treasury stock ending balance (in shares) at Oct. 02, 2021					45,000,000
Ending Balance at Oct. 02, 2021	38,757	$ 439	15,960	33,876	$ (8,911)	(2,654)	38,710	47
Beginning Balance at Dec. 31, 2021	122
Redeemable Noncontrolling Interest [Roll Forward]
Net income	14
Other comprehensive items	(10)
Contributions from (distributions to) noncontrolling interests	(7)
Ending Balance at Oct. 01, 2022	119
Balance (in shares) at Dec. 31, 2021		439,000,000
Beginning Balance at Dec. 31, 2021	$ 40,855	$ 439	16,174	35,431	$ (8,922)	(2,329)	40,793	62
Treasury stock beginning balance (in shares) at Dec. 31, 2021	44,720,112				45,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)		1,000,000			0
Issuance of shares under employees' and directors' stock plans	$ 102	$ 1	190		$ (89)		102
Stock-based compensation	232		232				232
Purchases of company common stock (in shares)					3,000,000
Purchases of company common stock	(2,000)				$ (2,000)		(2,000)
Dividends declared	(353)			(353)			(353)
Net income	5,372			5,374			5,374	(2)
Other comprehensive items	(599)					(599)	(599)
Contributions from (distributions to) noncontrolling interests	$ (1)							(1)
Balance (in shares) at Oct. 01, 2022		440,000,000
Treasury stock ending balance (in shares) at Oct. 01, 2022	48,157,213				48,000,000
Ending Balance at Oct. 01, 2022	$ 43,608	$ 440	16,596	40,452	$ (11,011)	(2,928)	43,549	59
Beginning Balance at Jul. 02, 2022	117
Redeemable Noncontrolling Interest [Roll Forward]
Net income	5
Other comprehensive items	(3)
Ending Balance at Oct. 01, 2022	119
Balance (in shares) at Jul. 02, 2022		440,000,000
Beginning Balance at Jul. 02, 2022	42,354	$ 440	16,467	39,074	$ (10,964)	(2,724)	42,293	61
Treasury stock beginning balance (in shares) at Jul. 02, 2022					48,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)					0
Issuance of shares under employees' and directors' stock plans	5		52		$ (47)		5
Stock-based compensation	77		77				77
Dividends declared	(117)			(117)			(117)
Net income	1,493			1,495			1,495	(2)
Other comprehensive items	$ (204)					(204)	(204)
Balance (in shares) at Oct. 01, 2022		440,000,000
Treasury stock ending balance (in shares) at Oct. 01, 2022	48,157,213				48,000,000
Ending Balance at Oct. 01, 2022	$ 43,608	$ 440	$ 16,596	$ 40,452	$ (11,011)	$ (2,928)	$ 43,549	$ 59

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity Consolidated Statement of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.30	$ 0.26	$ 0.90	$ 0.78

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Note 1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Thermo Fisher Scientific Inc. (the company or Thermo Fisher) enables customers to make the world healthier, cleaner and safer by helping them accelerate life sciences research, solve complex analytical challenges, increase laboratory productivity, and improve patient health through diagnostics and the development and manufacture of life-changing therapies. Markets served include pharmaceutical and biotech, academic and government, industrial and applied, as well as healthcare and diagnostics. Interim Financial Statements The interim condensed consolidated financial statements presented herein have been prepared by the company, are unaudited and, in the opinion of management, reflect all adjustments of a normal recurring nature necessary for a fair statement of the financial position at October 1, 2022, the results of operations for the three- and nine-month periods ended October 1, 2022 and October 2, 2021, and the cash flows for the nine-month periods ended October 1, 2022 and October 2, 2021. Interim results are not necessarily indicative of results for a full year. The condensed consolidated balance sheet presented as of December 31, 2021 has been derived from the audited consolidated financial statements as of that date. The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and do not contain all information that is included in the annual financial statements and notes thereto of the company. The condensed consolidated financial statements and notes included in this report should be read in conjunction with the 2021 financial statements and notes included in the company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC). Certain reclassifications of prior year amounts have been made to conform to the current year presentation. Note 1 to the consolidated financial statements for 2021 describes the significant accounting estimates and policies used in preparation of the consolidated financial statements. There have been no material changes in the company’s significant accounting policies during the nine months ended October 1, 2022. Inventories The components of inventories are as follows: (In millions) October 1, 2022 December 31, 2021 Raw materials $ 2,405 $ 1,922 Work in process 677 676 Finished goods 2,640 2,453 Inventories $ 5,722 $ 5,051 Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The company’s estimates include, among others, asset reserve requirements as well as the amounts of future cash flows associated with certain assets and businesses that are used in assessing the risk of impairment. The negative impacts associated with the ongoing COVID-19 global pandemic significantly lessened in 2021 and 2022. The extent and duration of negative impacts in the future, which may include inflationary pressures and supply chain disruptions, are uncertain and may require changes to estimates. Actual results could differ from those estimates. Recent Accounting Pronouncements In November 2021, the FASB issued new guidance to require entities to disclose information about certain types of government assistance they receive, including cash grants and tax credits. Among other things, the new guidance requires expanded disclosure regarding the qualitative and quantitative characteristics of the nature, amount, timing, and significant terms and conditions of transactions with a government arising from a grant or other forms of assistance accounted for under a contribution model. The company will adopt this guidance in the fourth quarter of 2022 using a prospective method. The adoption of this guidance is not expected to have a material impact on the company’s disclosures; however, the impact in future periods will be dependent on the extent of transactions of this nature entered into by the company. In September 2022, the FASB issued new guidance to require entities to disclose information about supplier finance programs. Among other things, the new guidance requires expanded disclosure about key program terms, payment terms, and amounts outstanding for obligations under these programs for each period presented. The company will adopt some aspects of this guidance in 2023 using a retrospective method and other aspects in 2024 using a prospective method. The adoption of this guidance is not expected to have a material impact on the company’s disclosures; however, the impact in future periods will be dependent on the extent of arrangements of this nature entered into by the company.

Acquisitions

Acquisitions	9 Months Ended
	Oct. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Note 2. Acquisitions The company’s acquisitions have historically been made at prices above the determined fair value of the acquired identifiable net assets, resulting in goodwill, primarily due to expectations of the synergies that will be realized by combining the businesses and the benefits that will be gained from the assembled workforces. These synergies include the elimination of redundant facilities, functions and staffing; use of the company’s existing commercial infrastructure to expand sales of the acquired businesses’ products and services; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products and services. Acquisitions have been accounted for using the acquisition method of accounting, and the acquired companies’ results have been included in the accompanying financial statements from their respective dates of acquisition. Pending Acquisition The company has entered into an agreement to acquire The Binding Site Group for £2.25 billion, payable as €2.59 billion in cash. The Binding Site Group provides specialty diagnostic assays and instruments to improve the diagnosis and management of blood cancers and immune system disorders. The transaction is subject to customary closing conditions, including regulatory approvals. Upon completion, The Binding Site Group will become part of the Specialty Diagnostics segment. 2022 In 2022, the company acquired, within the Analytical Instruments segment, a U.S.-based developer of Fourier-transform infrared gas analysis technologies. 2021 The preliminary allocations of the purchase price for the acquisitions of PPD, Inc. and PeproTech, Inc. were based on estimates of the fair values of the net assets acquired and are subject to adjustment upon finalization, largely with respect to acquired intangible assets, lease assets and liabilities, and the related deferred taxes. Measurements of these items inherently require significant estimates and assumptions. During the first nine months of 2022, the company adjusted the preliminary allocations of PPD and PeproTech, which among others increased goodwill ($122 million) and other liabilities assumed ($35 million), and decreased definite-lived intangible assets ($43 million), property, plant and equipment ($39 million), other current assets ($38 million), contract liabilities ($29 million), equity method investments ($23 million), and the fair value of assumed contingent consideration ($18 million). The adjustments to depreciation and amortization expenses recorded during the first nine months of 2022 were not material.

Revenue and Contract-related Ba

Revenue and Contract-related Balances	9 Months Ended
	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Revenue and Contract-related Balances	Note 3. Revenues and Contract-related Balances Disaggregated Revenues Revenues by type are as follows: Three months ended Nine months ended (In millions) October 1, 2022 October 2, 2021 October 1, 2022 October 2, 2021 Revenues Consumables $ 4,651 $ 5,544 $ 15,754 $ 16,880 Instruments 1,932 1,816 5,849 5,550 Services 4,094 1,970 11,862 6,079 Consolidated revenues $ 10,677 $ 9,330 $ 33,465 $ 28,509 Revenues by geographic region based on customer location are as follows: Three months ended Nine months ended (In millions) October 1, 2022 October 2, 2021 October 1, 2022 October 2, 2021 Revenues North America $ 5,962 $ 4,662 $ 18,317 $ 14,292 Europe 2,406 2,557 8,007 8,037 Asia-Pacific 1,971 1,836 6,077 5,294 Other regions 338 275 1,064 886 Consolidated revenues $ 10,677 $ 9,330 $ 33,465 $ 28,509 Each reportable segment earns revenues from consumables, instruments and services in North America, Europe, Asia-Pacific and other regions. See Note 4 for revenues by reportable segment and other geographic data. Remaining Performance Obligations The aggregate amount of the transaction price allocated to the remaining performance obligations for all open customer contracts as of October 1, 2022 was $26.61 billion. The company will recognize revenues for these performance obligations as they are satisfied, approximately 57% of which is expected to occur within the next twelve months. Amounts expected to occur thereafter generally relate to contract manufacturing, clinical research and extended warranty service agreements, which typically have durations of three Contract-related Balances Noncurrent contract assets and noncurrent contract liabilities are included within other assets and other long-term liabilities in the accompanying balance sheet, respectively. Contract asset and liability balances are as follows: (In millions) October 1, 2022 December 31, 2021 Current contract assets, net $ 1,248 $ 968 Noncurrent contract assets, net 9 9 Current contract liabilities 2,567 2,655 Noncurrent contract liabilities 1,200 1,238 In the three and nine months ended October 1, 2022, the company recognized revenues of $0.34 billion and $2.33 billion, respectively, that were included in the contract liabilities balance at December 31, 2021. In the three and nine months ended October 2, 2021, the company recognized revenues of $0.17 billion and $1.10 billion, respectively, that were included in the contract liabilities balance at December 31, 2020.

Business Segment and Geographic

Business Segment and Geographical Information	9 Months Ended
	Oct. 01, 2022
Segment Reporting [Abstract]
Business Segment and Geographical Information	Note 4. Business Segment and Geographical Information Business Segment Information Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Revenues Life Sciences Solutions $ 2,962 $ 3,721 $ 10,485 $ 11,481 Analytical Instruments 1,621 1,476 4,746 4,344 Specialty Diagnostics 1,065 1,362 3,648 4,212 Laboratory Products and Biopharma Services 5,585 3,487 16,564 10,667 Eliminations (556) (716) (1,978) (2,195) Consolidated revenues 10,677 9,330 33,465 28,509 Segment Income Life Sciences Solutions 1,039 1,821 4,542 5,818 Analytical Instruments 386 264 1,031 816 Specialty Diagnostics 220 310 816 983 Laboratory Products and Biopharma Services 725 383 2,036 1,360 Subtotal reportable segments 2,370 2,778 8,425 8,977 Cost of revenues adjustments (22) — (41) (8) Selling, general and administrative expenses adjustments (11) (59) 10 (33) Restructuring and other costs (33) (18) (59) (151) Amortization of acquisition-related intangible assets (594) (423) (1,803) (1,295) Consolidated operating income 1,710 2,278 6,532 7,490 Interest income 68 9 122 32 Interest expense (173) (128) (457) (375) Other income/(expense) (4) 18 (139) (168) Consolidated income before taxes $ 1,601 $ 2,177 $ 6,058 $ 6,979 Cost of revenues adjustments included in the above table consist of charges for the sale of inventories revalued at the date of acquisition and inventory write-downs associated with large-scale abandonments of product lines. Selling, general and administrative expenses adjustments included in the above table consist of third-party transaction/integration costs related to recent acquisitions, charges/credits for changes in estimates of contingent acquisition consideration, and charges associated with product liability litigation. Geographical Information Revenues by country based on customer location are as follows: Three months ended Nine months ended (In millions) October 1, 2022 October 2, 2021 October 1, 2022 October 2, 2021 Revenues United States $ 5,787 $ 4,495 $ 17,730 $ 13,742 China 954 885 2,865 2,454 Other 3,936 3,950 12,870 12,313 Consolidated revenues $ 10,677 $ 9,330 $ 33,465 $ 28,509

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes The provision for income taxes in the accompanying statement of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following: Nine months ended (In millions) October 1, 2022 October 2, 2021 Statutory federal income tax rate 21 % 21 % Provision for income taxes at statutory rate $ 1,272 $ 1,466 Increases (decreases) resulting from: Foreign rate differential (285) (159) Income tax credits (118) (205) Global intangible low-taxed income 126 45 Foreign-derived intangible income (102) (114) Excess tax benefits from stock options and restricted stock units (63) (96) Provision for (reversal of) tax reserves, net (543) 22 Intra-entity transfers (18) (258) Valuation allowances 240 18 Withholding taxes 48 106 Tax return reassessments and settlements (94) 1 State income taxes, net of federal tax 133 115 Other, net (66) (35) Provision for income taxes $ 530 $ 906 During the third quarter of 2022, the company settled an IRS audit relating to the 2017 and 2018 tax years. The company recorded a $208 million net tax benefit primarily from this settlement and related impacts, which resulted in a decrease in the company’s unrecognized tax benefits of $658 million. The company recorded $49 million of charges for expired tax credits and other related components of the settlement. The company recorded a charge of $395 million to establish a valuation allowance against certain U.S. foreign tax credits which the company believes will more likely than not expire unutilized. The company also recorded $101 million of additional net unrecognized tax benefit liabilities related to other tax audits. The company has operations and a taxable presence in approximately 70 countries outside the U.S. The company's effective income tax rate differs from the U.S. federal statutory rate each year due to certain operations that are subject to tax incentives, state and local taxes, and foreign taxes that are different than the U.S. federal statutory rate. Unrecognized Tax Benefits As of October 1, 2022 the company had $0.56 billion of unrecognized tax benefits substantially all of which, if recognized, would reduce the effective tax rate. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: (In millions) 2022 Balance at beginning of year $ 1,124 Additions for tax positions of current year 104 Additions for tax positions of prior years 24 Reductions for tax positions of prior years (659) Closure of tax years (2) Settlements (32) Balance at end of period $ 559

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Note 6. Earnings per Share Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions except per share amounts) 2022 2021 2022 2021 Net income attributable to Thermo Fisher Scientific Inc. $ 1,495 $ 1,902 $ 5,374 $ 6,067 Basic weighted average shares 392 394 392 394 Plus effect of: stock options and restricted stock units 3 3 3 3 Diluted weighted average shares 395 397 395 397 Basic earnings per share $ 3.82 $ 4.83 $ 13.72 $ 15.41 Diluted earnings per share $ 3.79 $ 4.79 $ 13.62 $ 15.29 Antidilutive stock options excluded from diluted weighted average shares 2 — 2 1

Debt and Other Financing Arrang

Debt and Other Financing Arrangements	9 Months Ended
	Oct. 01, 2022
Debt Disclosure [Abstract]
Debt and Other Financing Arrangements	Note 7. Debt and Other Financing Arrangements Effective interest rate at October 1, October 1, December 31, (Dollars in millions) 2022 2022 2021 Commercial Paper $ — $ 2,522 Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023 1,000 1,000 Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023 500 500 0.797% 2-Year Senior Notes, Due 10/18/2023 1.04 % 1,350 1,350 Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes Due 11/18/2023 (euro-denominated) 0.39 % 1,666 1,933 0.000% 2-Year Senior Notes Due 11/18/2023 (euro-denominated) 0.05 % 540 625 0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated) 0.92 % 980 1,137 1.215% 3-Year Senior Notes, Due 10/18/2024 1.42 % 2,500 2,500 Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024 500 500 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated) 0.39 % 784 910 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated) 2.09 % 627 728 0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) 0.13 % 540 625 3.65% 10-Year Senior Notes, Due 12/15/2025 — 350 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated) 1.52 % 686 796 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated) 1.64 % 490 568 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated) 1.95 % 588 682 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated) 0.76 % 784 910 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated) 1.46 % 588 682 1.75% 7-Year Senior Notes, Due 10/15/2028 1.89 % 700 700 1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated) 2.07 % 686 796 2.60% 10-Year Senior Notes, Due 10/1/2029 2.74 % 900 900 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) 0.87 % 1,715 1,990 0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated) 1.12 % 882 1,023 2.00% 10-Year Senior Notes, Due 10/15/2031 2.23 % 1,200 1,200 2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated) 2.53 % 588 682 1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated) 1.19 % 1,470 1,706 2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated) 2.94 % 686 796 Effective interest rate at October 1, October 1, December 31, (Dollars in millions) 2022 2022 2021 1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated) 1.73 % 882 1,023 2.80% 20-Year Senior Notes, Due 10/15/2041 2.90 % 1,200 1,200 1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated) 1.75 % 1,225 1,421 5.30% 30-Year Senior Notes, Due 2/1/2044 5.37 % 400 400 4.10% 30-Year Senior Notes, Due 8/15/2047 4.23 % 750 750 1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated) 1.97 % 980 1,137 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) 2.06 % 735 853 Other 72 76 Total borrowings at par value 29,194 34,971 Unamortized discount (101) (117) Unamortized debt issuance costs (152) (184) Total borrowings at carrying value 28,941 34,670 Finance lease liabilities 219 200 Less: Short-term obligations and current maturities 1,010 2,537 Long-term obligations $ 28,150 $ 32,333 SOFR - Secured Overnight Financing Rate EURIBOR - Euro Interbank Offered Rate The effective interest rates for the fixed-rate debt include the stated interest on the notes, the accretion of any discounts/premiums and the amortization of any debt issuance costs. See Note 10 for fair value information pertaining to the company’s long-term borrowings. Credit Facilities The company has a revolving credit facility (the Facility) with a bank group that provides for up to $5.00 billion of unsecured multi-currency revolving credit. The Facility expires on January 7, 2027. The revolving credit agreement calls for interest at either a Term SOFR, a EURIBOR-based rate (for funds drawn in euro) or a rate based on the prime lending rate of the agent bank, at the company’s option. The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type. The covenants in the Facility include a Consolidated Net Interest Coverage Ratio (Consolidated EBITDA to Consolidated Net Interest Expense), as such terms are defined in the Facility. Specifically, the company has agreed that, so long as any lender has any commitment under the Facility, any letter of credit is outstanding under the Facility, or any loan or other obligation is outstanding under the Facility, it will maintain a minimum Consolidated Net Interest Coverage Ratio of 3.5:1.0 as of the last day of any fiscal quarter. As of October 1, 2022, no borrowings were outstanding under the Facility, although available capacity was reduced by immaterial outstanding letters of credit. Commercial Paper Programs The company has commercial paper programs pursuant to which it may issue and sell unsecured, short-term promissory notes (CP Notes). Under the U.S. program, a) maturities may not exceed 397 days from the date of issue and b) the CP Notes are issued on a private placement basis under customary terms in the commercial paper market and are not redeemable prior to maturity nor subject to voluntary prepayment. Under the euro program, maturities may not exceed 183 days and may be denominated in euro, U.S. dollars, Japanese yen, British pounds sterling, Swiss franc, Canadian dollars or other currencies. Under both programs, the CP Notes are issued at a discount from par (or premium to par, in the case of negative interest rates), or, alternatively, are sold at par and bear varying interest rates on a fixed or floating basis. As of October 1, 2022, there were no outstanding borrowings under these programs. Senior Notes Interest is payable quarterly on the floating rate senior notes, annually on the euro-denominated fixed rate senior notes and semi-annually on all other senior notes. Each of the fixed rate senior notes may be redeemed at a redemption price of 100% of the principal amount plus a specified make-whole premium and accrued interest. Except for the euro-denominated floating rate senior notes, which may not be redeemed early, the floating rate senior notes may be redeemed in whole or in part on or after their applicable call dates at a redemption price of 100% of the principal amount plus accrued interest. The company is subject to certain affirmative and negative covenants under the indentures governing the senior notes, the most restrictive of which limits the ability of the company to pledge principal properties as security under borrowing arrangements. The company was in compliance with all covenants at October 1, 2022. In the first quarter of 2022, the company redeemed all of its 3.650% Senior Notes due 2025. In connection with the redemption, the company incurred $26 million of losses on the early extinguishment of debt included in other income/(expense) on the accompanying statement of income. Thermo Fisher Scientific (Finance I) B.V. (Thermo Fisher International), a wholly-owned finance subsidiary of the company, issued each of the Floating Rate Senior Notes due 2023, the 0.00% Senior Notes due 2023, the 0.00% Senior Notes due 2025, the 0.80% Senior Notes due 2030, the 1.125% Senior Notes due 2033, the 1.625% Senior Notes due 2041, and the 2.00% Senior Notes due 2051 included in the table above (collectively, the “Euronotes”) in registered public offerings. The company has fully and unconditionally guaranteed all of Thermo Fisher International’s obligations under the Euronotes and all of Thermo Fisher International’s other debt securities, and no other subsidiary of the company will guarantee these obligations. Thermo Fisher International is a “finance subsidiary” as defined in Rule 13-01(a)(4)(vi) of the Exchange Act, with no assets or operations other than those related to the issuance, administration and repayment of the Euronotes and other debt securities issued by Thermo Fisher International from time to time. The financial condition, results of operations and cash flows of Thermo Fisher International are consolidated in the financial statements of the company. October 2022 Debt Issuances In the fourth quarter of 2022, the company issued the following senior notes: (In millions) Principal Value Issued 0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated) ¥ 22,300 1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated) ¥ 28,900 1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated) ¥ 4,700 1.490% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated) ¥ 6,300 2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated) ¥ 14,600 2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated) ¥ 33,300

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Environmental Matters The company is currently involved in various stages of investigation and remediation related to environmental matters. The company cannot predict all potential costs related to environmental remediation matters and the possible impact on future operations given the uncertainties regarding the extent of the required cleanup, the complexity and interpretation of applicable laws and regulations, the varying costs of alternative cleanup methods and the extent of the company’s responsibility. Expenses for environmental remediation matters related to the costs of installing, operating and maintaining groundwater-treatment systems and other remedial activities related to historical environmental contamination at the company’s domestic and international facilities were not material in any period presented. At October 1, 2022, there have been no material changes to the accruals for pending environmental-related matters disclosed in the company’s 2021 financial statements and notes included in the company’s Annual Report on Form 10-K. While management believes the accruals for environmental remediation are adequate based on current estimates of remediation costs, the company may be subject to additional remedial or compliance costs due to future events such as changes in existing laws and regulations, changes in agency direction or enforcement policies, developments in remediation technologies or changes in the conduct of the company’s operations, which could have a material adverse effect on the company’s financial position, results of operations and cash flows. Litigation and Related Contingencies The company is involved in various disputes, governmental and/or regulatory inspections, inquiries, investigations and proceedings, and litigation matters that arise from time to time in the ordinary course of business. The disputes and litigation matters include product liability, intellectual property, employment and commercial issues. Due to the inherent uncertainties associated with pending litigation or claims, the company cannot predict the outcome, nor, with respect to certain pending litigation or claims where no liability has been accrued, make a meaningful estimate of the reasonably possible loss or range of loss that could result from an unfavorable outcome. The company has no material accruals for pending litigation or claims for which accrual amounts are not disclosed in the company’s 2021 financial statements and notes included in the company’s Annual Report on Form 10-K, nor are material losses deemed probable for such matters. It is reasonably possible, however, that an unfavorable outcome that exceeds the company’s current accrual estimate, if any, for one or more of the matters described below could have a material adverse effect on the company’s results of operations, financial position and cash flows. Product Liability, Workers Compensation and Other Personal Injury Matters

Comprehensive Income and Shareh

Comprehensive Income and Shareholders' Equity	9 Months Ended
	Oct. 01, 2022
Stockholders' Equity Note [Abstract]
Comprehensive Income and Shareholders' Equity	Note 9. Comprehensive Income and Shareholders' Equity Comprehensive Income (Loss) Changes in each component of accumulated other comprehensive items, net of tax, are as follows: (In millions) Currency Unrealized Pension and Total Balance at December 31, 2021 $ (2,065) $ (35) $ (229) $ (2,329) Other comprehensive items before reclassifications (632) — 13 (619) Amounts reclassified from accumulated other comprehensive items 10 2 8 20 Net other comprehensive items (622) 2 21 (599) Balance at October 1, 2022 $ (2,687) $ (33) $ (208) $ (2,928) Shareholders’ Equity

Fair Value Measurements and Fai

Fair Value Measurements and Fair Value of Financial Instruments	9 Months Ended
	Oct. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Fair Value of Financial Instruments	Note 10. Fair Value Measurements and Fair Value of Financial Instruments Fair Value Measurements The following tables present information about the company’s financial assets and liabilities measured at fair value on a recurring basis: October 1, Quoted Significant Significant (In millions) 2022 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 1,395 $ 1,395 $ — $ — Investments 48 48 — — Warrants 12 — 12 — Insurance contracts 152 — 152 — Derivative contracts 167 — 167 — Total assets $ 1,774 $ 1,443 $ 331 $ — Liabilities Derivative contracts $ 2 $ — $ 2 $ — Contingent consideration 168 — — 168 Total liabilities $ 170 $ — $ 2 $ 168 December 31, Quoted Significant Significant (In millions) 2021 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 2,210 $ 2,210 $ — $ — Investments 298 298 — — Warrants 15 — 15 — Insurance contracts 181 — 181 — Derivative contracts 36 — 36 — Total assets $ 2,740 $ 2,508 $ 232 $ — Liabilities Derivative contracts $ 1 $ — $ 1 $ — Contingent consideration 317 — — 317 Total liabilities $ 318 $ — $ 1 $ 317 The company uses the Black-Scholes model to value its warrants. The company determines the fair value of its insurance contracts by obtaining the cash surrender value of the contracts from the issuer. The fair value of derivative contracts is the estimated amount that the company would receive/pay upon liquidation of the contracts, taking into account the change in interest rates and currency exchange rates. The company initially measures the fair value of acquisition-related contingent consideration based on amounts expected to be transferred (probability-weighted) discounted to present value. Changes to the fair value of contingent consideration are recorded in selling, general and administrative expense. In the three and nine months ended October 1, 2022, the company recorded $13 million and $136 million, respectively, of net losses on investments which are included in other income/(expense) in the accompanying statement of income. In the three and nine months ended October 2, 2021, the company recorded $25 million and $23 million, respectively, of net gains on investments which are included in other income/(expense) in the accompanying statement of income. The following table provides a rollforward of the fair value, as determined by level 3 inputs (such as likelihood of achieving production or revenue milestones, as well as changes in the fair values of the investments underlying a recapitalization investment portfolio), of the contingent consideration. Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Contingent consideration Beginning balance $ 216 $ 149 $ 317 $ 70 Acquisitions (including assumed balances) — — (18) 179 Payments (32) (1) (64) (43) Changes in fair value included in earnings (16) 23 (67) (35) Ending balance $ 168 $ 171 $ 168 $ 171 Derivative Contracts The following table provides the aggregate notional value of outstanding derivative contracts. (In millions) October 1, 2022 December 31, 2021 Notional amount Cross-currency interest rate swaps - designated as net investment hedges $ 900 $ 900 Currency exchange contracts 1,676 2,149 While certain derivatives are subject to netting arrangements with counterparties, the company does not offset derivative assets and liabilities within the balance sheet. The following tables present the fair value of derivative instruments in the accompanying balance sheet and statement of income. Fair value – assets Fair value – liabilities October 1, December 31, October 1, December 31, (In millions) 2022 2021 2022 2021 Derivatives designated as hedging instruments Cross-currency interest rate swaps (a) $ 145 $ 25 $ — $ — Derivatives not designated as hedging instruments Currency exchange contracts (b) 22 11 2 1 Total derivatives $ 167 $ 36 $ 2 $ 1 (a) The fair value of the cross-currency interest rate swaps is included in the accompanying balance sheet under the caption other assets or other long-term liabilities. (b) The fair value of the currency exchange contracts is included in the accompanying balance sheet under the captions other current assets or other accrued expenses. Gain (loss) recognized Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Fair value hedging relationships Interest rate swaps Hedged long-term obligations - included in other income/(expense) $ — $ — $ — $ 25 Derivatives designated as hedging instruments - included in other income/(expense) — — — (3) Derivatives designated as cash flow hedges Interest rate swaps Amount reclassified from accumulated other comprehensive items to other income/(expense) (1) (2) (3) (21) Gain (loss) recognized Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Financial instruments designated as net investment hedges Foreign currency-denominated debt and other payables Included in currency translation adjustment within other comprehensive items 658 297 1,691 673 Cross-currency interest rate swaps Included in currency translation adjustment within other comprehensive items 46 20 120 52 Included in other income/(expense) 6 2 12 6 Derivatives not designated as hedging instruments Currency exchange contracts Included in cost of product revenues 3 7 15 8 Included in other income/(expense) 20 (8) 32 147 Gains and losses recognized on currency exchange contracts and the interest rate swaps designated as fair value hedges are included in the accompanying statement of income together with the corresponding, offsetting losses and gains on the underlying hedged transactions. The company uses foreign currency-denominated debt, certain foreign-denominated payables, and cross-currency interest rate swaps to partially hedge its net investments in foreign operations against adverse movements in exchange rates. A portion of the company’s euro-denominated senior notes, certain foreign-denominated payables, and its cross-currency interest rate swaps have been designated as, and are effective as, economic hedges of part of the net investment in a foreign operation. Accordingly, foreign currency transaction gains or losses due to spot rate fluctuations on the euro-denominated debt instruments and certain foreign-denominated payables, and contract fair value changes on the cross-currency interest rate swaps, excluding interest accruals, are included in currency translation adjustment within other comprehensive items and shareholders’ equity. See Note 1 to the consolidated financial statements for 2021 included in the company’s Annual Report on Form 10-K for additional information on the company’s risk management objectives and strategies. Fair Value of Other Financial Instruments The carrying value and fair value of the company’s debt instruments are as follows: October 1, 2022 December 31, 2021 Carrying Fair Carrying Fair (In millions) value value value value Senior notes $ 28,869 $ 25,036 $ 32,072 $ 33,449 Commercial paper — — 2,522 2,522 Other 72 72 76 76 $ 28,941 $ 25,108 $ 34,670 $ 36,047 The fair value of debt instruments was determined based on quoted market prices and on borrowing rates available to the company at the respective period ends, which represent level 2 measurements.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Oct. 01, 2022
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Note 11. Supplemental Cash Flow Information Nine months ended (In millions) October 1, 2022 October 2, 2021 Non-cash investing and financing activities Acquired but unpaid property, plant and equipment $ 213 $ 257 Fair value of acquisition contingent consideration — 179 Declared but unpaid dividends 119 104 Issuance of stock upon vesting of restricted stock units 225 237 Cash, cash equivalents and restricted cash is included in the accompanying balance sheet as follows: (In millions) October 1, 2022 December 31, 2021 Cash and cash equivalents $ 2,919 $ 4,477 Restricted cash included in other current assets 14 13 Restricted cash included in other assets 1 1 Cash, cash equivalents and restricted cash $ 2,934 $ 4,491 Amounts included in restricted cash represent funds held as collateral for bank guarantees and incoming cash in China awaiting government administrative clearance.

Restructuring and Other Costs

Restructuring and Other Costs	9 Months Ended
	Oct. 01, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Costs	Note 12. Restructuring and Other Costs In the first nine months of 2022, restructuring and other costs primarily included impairment of long-lived assets and continuing charges for headcount reductions and facility consolidations in an effort to streamline operations. In 2022, severance actions associated with facility consolidations and cost reduction measures affected approximately 0.5% of the company’s workforce. As of November 4, 2022, the company has identified restructuring actions that will result in additional charges of approximately $85 million, primarily in 2022 and 2023, and expects to identify additional actions in future periods which will be recorded when specified criteria are met, such as communication of benefit arrangements or when the costs have been incurred. Restructuring and other costs by segment are as follows: Three months ended Nine months ended (In millions) October 1, 2022 October 1, 2022 Life Sciences Solutions $ 5 $ 11 Analytical Instruments 2 6 Specialty Diagnostics 19 22 Laboratory Products and Biopharma Services 7 20 $ 33 $ 59 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 statement of income have been summarized in the notes to the table. (In millions) Total (a) Balance at December 31, 2021 $ 17 Net restructuring charges incurred in 2022 (b) 31 Payments (30) Currency translation (1) Balance at October 1, 2022 $ 17 (a) The movements in the restructuring liability principally consist of severance and other costs such as relocation and moving expenses associated with facility consolidations, as well as employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment. (b) Excludes $28 million of net non-cash charges, primarily charges for impairment of long-lived assets. The company expects to pay accrued restructuring costs primarily through 2022.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The company’s estimates include, among others, asset reserve requirements as well as the amounts of future cash flows associated with certain assets and businesses that are used in assessing the risk of impairment. The negative impacts associated with the ongoing COVID-19 global pandemic significantly lessened in 2021 and 2022. The extent and duration of negative impacts in the future, which may include inflationary pressures and supply chain disruptions, are uncertain and may require changes to estimates. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2021, the FASB issued new guidance to require entities to disclose information about certain types of government assistance they receive, including cash grants and tax credits. Among other things, the new guidance requires expanded disclosure regarding the qualitative and quantitative characteristics of the nature, amount, timing, and significant terms and conditions of transactions with a government arising from a grant or other forms of assistance accounted for under a contribution model. The company will adopt this guidance in the fourth quarter of 2022 using a prospective method. The adoption of this guidance is not expected to have a material impact on the company’s disclosures; however, the impact in future periods will be dependent on the extent of transactions of this nature entered into by the company. In September 2022, the FASB issued new guidance to require entities to disclose information about supplier finance programs. Among other things, the new guidance requires expanded disclosure about key program terms, payment terms, and amounts outstanding for obligations under these programs for each period presented. The company will adopt some aspects of this guidance in 2023 using a retrospective method and other aspects in 2024 using a prospective method. The adoption of this guidance is not expected to have a material impact on the company’s disclosures; however, the impact in future periods will be dependent on the extent of arrangements of this nature entered into by the company.
Acquisitions	The company’s acquisitions have historically been made at prices above the determined fair value of the acquired identifiable net assets, resulting in goodwill, primarily due to expectations of the synergies that will be realized by combining the businesses and the benefits that will be gained from the assembled workforces. These synergies include the elimination of redundant facilities, functions and staffing; use of the company’s existing commercial infrastructure to expand sales of the acquired businesses’ products and services; and use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of company products and services. Acquisitions have been accounted for using the acquisition method of accounting, and the acquired companies’ results have been included in the accompanying financial statements from their respective dates of acquisition.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Inventories	Inventories The components of inventories are as follows: (In millions) October 1, 2022 December 31, 2021 Raw materials $ 2,405 $ 1,922 Work in process 677 676 Finished goods 2,640 2,453 Inventories $ 5,722 $ 5,051

Revenue and Contract-related _2

Revenue and Contract-related Balances (Tables)	9 Months Ended
	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	Disaggregated Revenues Revenues by type are as follows: Three months ended Nine months ended (In millions) October 1, 2022 October 2, 2021 October 1, 2022 October 2, 2021 Revenues Consumables $ 4,651 $ 5,544 $ 15,754 $ 16,880 Instruments 1,932 1,816 5,849 5,550 Services 4,094 1,970 11,862 6,079 Consolidated revenues $ 10,677 $ 9,330 $ 33,465 $ 28,509 Revenues by geographic region based on customer location are as follows: Three months ended Nine months ended (In millions) October 1, 2022 October 2, 2021 October 1, 2022 October 2, 2021 Revenues North America $ 5,962 $ 4,662 $ 18,317 $ 14,292 Europe 2,406 2,557 8,007 8,037 Asia-Pacific 1,971 1,836 6,077 5,294 Other regions 338 275 1,064 886 Consolidated revenues $ 10,677 $ 9,330 $ 33,465 $ 28,509
Schedule of Contract Asset and Liability Balances	Noncurrent contract assets and noncurrent contract liabilities are included within other assets and other long-term liabilities in the accompanying balance sheet, respectively. Contract asset and liability balances are as follows: (In millions) October 1, 2022 December 31, 2021 Current contract assets, net $ 1,248 $ 968 Noncurrent contract assets, net 9 9 Current contract liabilities 2,567 2,655 Noncurrent contract liabilities 1,200 1,238

Business Segment and Geograph_2

Business Segment and Geographical Information (Tables)	9 Months Ended
	Oct. 01, 2022
Segment Reporting [Abstract]
Schedule of Business Segment Information	Business Segment Information Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Revenues Life Sciences Solutions $ 2,962 $ 3,721 $ 10,485 $ 11,481 Analytical Instruments 1,621 1,476 4,746 4,344 Specialty Diagnostics 1,065 1,362 3,648 4,212 Laboratory Products and Biopharma Services 5,585 3,487 16,564 10,667 Eliminations (556) (716) (1,978) (2,195) Consolidated revenues 10,677 9,330 33,465 28,509 Segment Income Life Sciences Solutions 1,039 1,821 4,542 5,818 Analytical Instruments 386 264 1,031 816 Specialty Diagnostics 220 310 816 983 Laboratory Products and Biopharma Services 725 383 2,036 1,360 Subtotal reportable segments 2,370 2,778 8,425 8,977 Cost of revenues adjustments (22) — (41) (8) Selling, general and administrative expenses adjustments (11) (59) 10 (33) Restructuring and other costs (33) (18) (59) (151) Amortization of acquisition-related intangible assets (594) (423) (1,803) (1,295) Consolidated operating income 1,710 2,278 6,532 7,490 Interest income 68 9 122 32 Interest expense (173) (128) (457) (375) Other income/(expense) (4) 18 (139) (168) Consolidated income before taxes $ 1,601 $ 2,177 $ 6,058 $ 6,979
Schedule of Revenue by Country Based on Customer Location	Three months ended Nine months ended (In millions) October 1, 2022 October 2, 2021 October 1, 2022 October 2, 2021 Revenues United States $ 5,787 $ 4,495 $ 17,730 $ 13,742 China 954 885 2,865 2,454 Other 3,936 3,950 12,870 12,313 Consolidated revenues $ 10,677 $ 9,330 $ 33,465 $ 28,509

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Schedule of the Provision for Income Taxes	The provision for income taxes in the accompanying statement of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following: Nine months ended (In millions) October 1, 2022 October 2, 2021 Statutory federal income tax rate 21 % 21 % Provision for income taxes at statutory rate $ 1,272 $ 1,466 Increases (decreases) resulting from: Foreign rate differential (285) (159) Income tax credits (118) (205) Global intangible low-taxed income 126 45 Foreign-derived intangible income (102) (114) Excess tax benefits from stock options and restricted stock units (63) (96) Provision for (reversal of) tax reserves, net (543) 22 Intra-entity transfers (18) (258) Valuation allowances 240 18 Withholding taxes 48 106 Tax return reassessments and settlements (94) 1 State income taxes, net of federal tax 133 115 Other, net (66) (35) Provision for income taxes $ 530 $ 906
Schedule of Unrecognized Tax Benefits	(In millions) 2022 Balance at beginning of year $ 1,124 Additions for tax positions of current year 104 Additions for tax positions of prior years 24 Reductions for tax positions of prior years (659) Closure of tax years (2) Settlements (32) Balance at end of period $ 559

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions except per share amounts) 2022 2021 2022 2021 Net income attributable to Thermo Fisher Scientific Inc. $ 1,495 $ 1,902 $ 5,374 $ 6,067 Basic weighted average shares 392 394 392 394 Plus effect of: stock options and restricted stock units 3 3 3 3 Diluted weighted average shares 395 397 395 397 Basic earnings per share $ 3.82 $ 4.83 $ 13.72 $ 15.41 Diluted earnings per share $ 3.79 $ 4.79 $ 13.62 $ 15.29 Antidilutive stock options excluded from diluted weighted average shares 2 — 2 1

Debt and Other Financing Arra_2

Debt and Other Financing Arrangements (Tables)	9 Months Ended
	Oct. 01, 2022
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	Effective interest rate at October 1, October 1, December 31, (Dollars in millions) 2022 2022 2021 Commercial Paper $ — $ 2,522 Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023 1,000 1,000 Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023 500 500 0.797% 2-Year Senior Notes, Due 10/18/2023 1.04 % 1,350 1,350 Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes Due 11/18/2023 (euro-denominated) 0.39 % 1,666 1,933 0.000% 2-Year Senior Notes Due 11/18/2023 (euro-denominated) 0.05 % 540 625 0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated) 0.92 % 980 1,137 1.215% 3-Year Senior Notes, Due 10/18/2024 1.42 % 2,500 2,500 Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024 500 500 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated) 0.39 % 784 910 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated) 2.09 % 627 728 0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) 0.13 % 540 625 3.65% 10-Year Senior Notes, Due 12/15/2025 — 350 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated) 1.52 % 686 796 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated) 1.64 % 490 568 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated) 1.95 % 588 682 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated) 0.76 % 784 910 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated) 1.46 % 588 682 1.75% 7-Year Senior Notes, Due 10/15/2028 1.89 % 700 700 1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated) 2.07 % 686 796 2.60% 10-Year Senior Notes, Due 10/1/2029 2.74 % 900 900 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) 0.87 % 1,715 1,990 0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated) 1.12 % 882 1,023 2.00% 10-Year Senior Notes, Due 10/15/2031 2.23 % 1,200 1,200 2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated) 2.53 % 588 682 1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated) 1.19 % 1,470 1,706 2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated) 2.94 % 686 796 Effective interest rate at October 1, October 1, December 31, (Dollars in millions) 2022 2022 2021 1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated) 1.73 % 882 1,023 2.80% 20-Year Senior Notes, Due 10/15/2041 2.90 % 1,200 1,200 1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated) 1.75 % 1,225 1,421 5.30% 30-Year Senior Notes, Due 2/1/2044 5.37 % 400 400 4.10% 30-Year Senior Notes, Due 8/15/2047 4.23 % 750 750 1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated) 1.97 % 980 1,137 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) 2.06 % 735 853 Other 72 76 Total borrowings at par value 29,194 34,971 Unamortized discount (101) (117) Unamortized debt issuance costs (152) (184) Total borrowings at carrying value 28,941 34,670 Finance lease liabilities 219 200 Less: Short-term obligations and current maturities 1,010 2,537 Long-term obligations $ 28,150 $ 32,333 SOFR - Secured Overnight Financing Rate EURIBOR - Euro Interbank Offered Rate In the fourth quarter of 2022, the company issued the following senior notes: (In millions) Principal Value Issued 0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated) ¥ 22,300 1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated) ¥ 28,900 1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated) ¥ 4,700 1.490% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated) ¥ 6,300 2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated) ¥ 14,600 2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated) ¥ 33,300

Comprehensive Income and Shar_2

Comprehensive Income and Shareholders' Equity (Tables)	9 Months Ended
	Oct. 01, 2022
Stockholders' Equity Note [Abstract]
Schedule of Changes in Each Component of Accumulated Other Comprehensive Items	Changes in each component of accumulated other comprehensive items, net of tax, are as follows: (In millions) Currency Unrealized Pension and Total Balance at December 31, 2021 $ (2,065) $ (35) $ (229) $ (2,329) Other comprehensive items before reclassifications (632) — 13 (619) Amounts reclassified from accumulated other comprehensive items 10 2 8 20 Net other comprehensive items (622) 2 21 (599) Balance at October 1, 2022 $ (2,687) $ (33) $ (208) $ (2,928)

Fair Value Measurements and F_2

Fair Value Measurements and Fair Value of Financial Instruments (Tables)	9 Months Ended
	Oct. 01, 2022
Fair Value Disclosures [Abstract]
Schedule of Information About the Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present information about the company’s financial assets and liabilities measured at fair value on a recurring basis: October 1, Quoted Significant Significant (In millions) 2022 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 1,395 $ 1,395 $ — $ — Investments 48 48 — — Warrants 12 — 12 — Insurance contracts 152 — 152 — Derivative contracts 167 — 167 — Total assets $ 1,774 $ 1,443 $ 331 $ — Liabilities Derivative contracts $ 2 $ — $ 2 $ — Contingent consideration 168 — — 168 Total liabilities $ 170 $ — $ 2 $ 168 December 31, Quoted Significant Significant (In millions) 2021 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 2,210 $ 2,210 $ — $ — Investments 298 298 — — Warrants 15 — 15 — Insurance contracts 181 — 181 — Derivative contracts 36 — 36 — Total assets $ 2,740 $ 2,508 $ 232 $ — Liabilities Derivative contracts $ 1 $ — $ 1 $ — Contingent consideration 317 — — 317 Total liabilities $ 318 $ — $ 1 $ 317
Rollforward of the Fair Value of Investments	The following table provides a rollforward of the fair value, as determined by level 3 inputs (such as likelihood of achieving production or revenue milestones, as well as changes in the fair values of the investments underlying a recapitalization investment portfolio), of the contingent consideration. Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Contingent consideration Beginning balance $ 216 $ 149 $ 317 $ 70 Acquisitions (including assumed balances) — — (18) 179 Payments (32) (1) (64) (43) Changes in fair value included in earnings (16) 23 (67) (35) Ending balance $ 168 $ 171 $ 168 $ 171
Schedule of the Aggregate Notional Value of Outstanding Derivative Contracts	The following table provides the aggregate notional value of outstanding derivative contracts. (In millions) October 1, 2022 December 31, 2021 Notional amount Cross-currency interest rate swaps - designated as net investment hedges $ 900 $ 900 Currency exchange contracts 1,676 2,149
Schedule of the Fair Value of Derivative Instruments	While certain derivatives are subject to netting arrangements with counterparties, the company does not offset derivative assets and liabilities within the balance sheet. The following tables present the fair value of derivative instruments in the accompanying balance sheet and statement of income. Fair value – assets Fair value – liabilities October 1, December 31, October 1, December 31, (In millions) 2022 2021 2022 2021 Derivatives designated as hedging instruments Cross-currency interest rate swaps (a) $ 145 $ 25 $ — $ — Derivatives not designated as hedging instruments Currency exchange contracts (b) 22 11 2 1 Total derivatives $ 167 $ 36 $ 2 $ 1 (a) The fair value of the cross-currency interest rate swaps is included in the accompanying balance sheet under the caption other assets or other long-term liabilities. (b) The fair value of the currency exchange contracts is included in the accompanying balance sheet under the captions other current assets or other accrued expenses.
Schedule of Derivative Instruments Gains and Losses	Gain (loss) recognized Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Fair value hedging relationships Interest rate swaps Hedged long-term obligations - included in other income/(expense) $ — $ — $ — $ 25 Derivatives designated as hedging instruments - included in other income/(expense) — — — (3) Derivatives designated as cash flow hedges Interest rate swaps Amount reclassified from accumulated other comprehensive items to other income/(expense) (1) (2) (3) (21) Gain (loss) recognized Three months ended Nine months ended October 1, October 2, October 1, October 2, (In millions) 2022 2021 2022 2021 Financial instruments designated as net investment hedges Foreign currency-denominated debt and other payables Included in currency translation adjustment within other comprehensive items 658 297 1,691 673 Cross-currency interest rate swaps Included in currency translation adjustment within other comprehensive items 46 20 120 52 Included in other income/(expense) 6 2 12 6 Derivatives not designated as hedging instruments Currency exchange contracts Included in cost of product revenues 3 7 15 8 Included in other income/(expense) 20 (8) 32 147
Schedule of the Fair Value of the Company's Debt Instruments	The carrying value and fair value of the company’s debt instruments are as follows: October 1, 2022 December 31, 2021 Carrying Fair Carrying Fair (In millions) value value value value Senior notes $ 28,869 $ 25,036 $ 32,072 $ 33,449 Commercial paper — — 2,522 2,522 Other 72 72 76 76 $ 28,941 $ 25,108 $ 34,670 $ 36,047 The fair value of debt instruments was determined based on quoted market prices and on borrowing rates available to the company at the respective period ends, which represent level 2 measurements.
Schedule of the Carrying Value of the Company's Debt Instruments	The carrying value and fair value of the company’s debt instruments are as follows: October 1, 2022 December 31, 2021 Carrying Fair Carrying Fair (In millions) value value value value Senior notes $ 28,869 $ 25,036 $ 32,072 $ 33,449 Commercial paper — — 2,522 2,522 Other 72 72 76 76 $ 28,941 $ 25,108 $ 34,670 $ 36,047 The fair value of debt instruments was determined based on quoted market prices and on borrowing rates available to the company at the respective period ends, which represent level 2 measurements.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Oct. 01, 2022
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Nine months ended (In millions) October 1, 2022 October 2, 2021 Non-cash investing and financing activities Acquired but unpaid property, plant and equipment $ 213 $ 257 Fair value of acquisition contingent consideration — 179 Declared but unpaid dividends 119 104 Issuance of stock upon vesting of restricted stock units 225 237
Schedule of Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash is included in the accompanying balance sheet as follows: (In millions) October 1, 2022 December 31, 2021 Cash and cash equivalents $ 2,919 $ 4,477 Restricted cash included in other current assets 14 13 Restricted cash included in other assets 1 1 Cash, cash equivalents and restricted cash $ 2,934 $ 4,491

Restructuring and Other Costs (

Restructuring and Other Costs (Tables)	9 Months Ended
	Oct. 01, 2022
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) October 1, 2022 October 1, 2022 Life Sciences Solutions $ 5 $ 11 Analytical Instruments 2 6 Specialty Diagnostics 19 22 Laboratory Products and Biopharma Services 7 20 $ 33 $ 59
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 statement of income have been summarized in the notes to the table. (In millions) Total (a) Balance at December 31, 2021 $ 17 Net restructuring charges incurred in 2022 (b) 31 Payments (30) Currency translation (1) Balance at October 1, 2022 $ 17 (a) The movements in the restructuring liability principally consist of severance and other costs such as relocation and moving expenses associated with facility consolidations, as well as employee retention costs which are accrued ratably over the period through which employees must work to qualify for a payment.

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Components of Inventories (Details) - USD ($) $ in Millions	Oct. 01, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 2,405	$ 1,922
Work in process	677	676
Finished goods	2,640	2,453
Inventories	$ 5,722	$ 5,051

Acquisitions (Details)

Acquisitions (Details) $ in Millions	9 Months Ended
	Oct. 01, 2022 USD ($)
Business Acquisition [Line Items]
Purchase accounting adjustments, goodwill	$ 122
Purchase accounting adjustments, other liabilities assumed	35
Purchase accounting adjustments, intangible assets	(43)
Purchase price accounting adjustments, property, plant and equipment	39
Purchase accounting adjustments, other current assets	(38)
Purchase accounting adjustments, contract liabilities	(29)
Purchase accounting adjustments, equity method investments	(23)
Purchase accounting adjustments, contingent consideration	18
The Binding Site Group
Business Acquisition [Line Items]
Expected purchase price of acquisition	2,250
Cash payable for acquisition	$ 2,590

Revenue and Contract-related _3

Revenue and Contract-related Balances - Schedule of Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 10,677	$ 9,330	$ 33,465	$ 28,509
North America
Disaggregation of Revenue [Line Items]
Revenues	5,962	4,662	18,317	14,292
Europe
Disaggregation of Revenue [Line Items]
Revenues	2,406	2,557	8,007	8,037
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenues	1,971	1,836	6,077	5,294
Other regions
Disaggregation of Revenue [Line Items]
Revenues	338	275	1,064	886
Consumables
Disaggregation of Revenue [Line Items]
Revenues	4,651	5,544	15,754	16,880
Instruments
Disaggregation of Revenue [Line Items]
Revenues	1,932	1,816	5,849	5,550
Service revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 4,094	$ 1,970	$ 11,862	$ 6,079

Revenue and Contract-related _4

Revenue and Contract-related Balances - Revenue Performance Obligations (Details) $ in Millions	Oct. 01, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation amount	$ 26,610
Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Warranty agreement	3 years
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Warranty agreement	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation percentage	57%
Remaining performance obligation, expected timing	12 months

Revenue and Contract-related _5

Revenue and Contract-related Balances - Schedule of Contract Asset and Liability Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Dec. 31, 2021
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Current contract assets, net	$ 1,248		$ 1,248		$ 968
Noncurrent contract assets, net	9		9		9
Current contract liabilities	2,567		2,567		2,655
Noncurrent contract liabilities	1,200		1,200		$ 1,238
Revenue recognized that was included in the current contract liability balance at the beginning of the period	$ 340	$ 170	$ 2,330	$ 1,100

Business Segment and Geograph_3

Business Segment and Geographical Information - Schedule of Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Segment Reporting Information [Line Items]
Revenues	$ 10,677	$ 9,330	$ 33,465	$ 28,509
Segment Income	1,710	2,278	6,532	7,490
Restructuring and other costs	(33)	(18)	(59)	(151)
Amortization of acquisition-related intangible assets			(1,803)	(1,295)
Interest income	68	9	122	32
Interest expense	(173)	(128)	(457)	(375)
Other income/(expense)	(4)	18	(139)	(168)
Income before income taxes	1,601	2,177	6,058	6,979
Life Sciences Solutions
Segment Reporting Information [Line Items]
Restructuring and other costs	(5)		(11)
Analytical Instruments
Segment Reporting Information [Line Items]
Restructuring and other costs	(2)		(6)
Specialty Diagnostics
Segment Reporting Information [Line Items]
Restructuring and other costs	(19)		(22)
Laboratory Products and Biopharma Services
Segment Reporting Information [Line Items]
Restructuring and other costs	(7)		(20)
Total Reportable Segments
Segment Reporting Information [Line Items]
Segment Income	2,370	2,778	8,425	8,977
Total Reportable Segments | Life Sciences Solutions
Segment Reporting Information [Line Items]
Revenues	2,962	3,721	10,485	11,481
Segment Income	1,039	1,821	4,542	5,818
Total Reportable Segments | Analytical Instruments
Segment Reporting Information [Line Items]
Revenues	1,621	1,476	4,746	4,344
Segment Income	386	264	1,031	816
Total Reportable Segments | Specialty Diagnostics
Segment Reporting Information [Line Items]
Revenues	1,065	1,362	3,648	4,212
Segment Income	220	310	816	983
Total Reportable Segments | Laboratory Products and Biopharma Services
Segment Reporting Information [Line Items]
Revenues	5,585	3,487	16,564	10,667
Segment Income	725	383	2,036	1,360
Eliminations
Segment Reporting Information [Line Items]
Revenues	(556)	(716)	(1,978)	(2,195)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Cost of revenues adjustments	(22)	0	(41)	(8)
Selling, general and administrative expenses adjustments	(11)	(59)	10	(33)
Restructuring and other costs	(33)	(18)	(59)	(151)
Amortization of acquisition-related intangible assets	$ (594)	$ (423)	$ (1,803)	$ (1,295)

Business Segment and Geograph_4

Business Segment and Geographical Information - Schedule of Revenue by Country Based on Customer Location (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 10,677	$ 9,330	$ 33,465	$ 28,509
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	5,787	4,495	17,730	13,742
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	954	885	2,865	2,454
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 3,936	$ 3,950	$ 12,870	$ 12,313

Income Taxes - Schedule of the

Income Taxes - Schedule of the Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax rate			21%	21%
Provision for income taxes at statutory rate			$ 1,272	$ 1,466
Foreign rate differential			(285)	(159)
Income tax credits			(118)	(205)
Global intangible low-taxed income			126	45
Foreign-derived intangible income			(102)	(114)
Excess tax benefits from stock options and restricted stock units			(63)	(96)
Provision for (reversal of) tax reserves, net			(543)	22
Intra-entity transfers			(18)	(258)
Valuation allowances			240	18
Withholding taxes			48	106
Tax return reassessments and settlements	$ (208)		(94)	1
State income taxes, net of federal tax			133	115
Other, net			(66)	(35)
Provision for income taxes	$ 31	$ 271	$ 530	$ 906

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 01, 2022 USD ($) country	Oct. 01, 2022 USD ($) country	Oct. 02, 2021 USD ($)	Dec. 31, 2021 USD ($)
Income Tax Disclosure [Abstract]
Tax return reassessments and settlements	$ (208)	$ (94)	$ 1
Decrease in unrecognized tax benefits	658
Charges for expired tax credits	49
Increase (decrease) to valuation allowance	395
Increase in unrecognized tax benefits	$ 101
Countries with taxable presence | country	70	70
Unrecognized tax benefits	$ 559	$ 559		$ 1,124

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) $ in Millions	9 Months Ended
	Oct. 01, 2022 USD ($)
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 1,124
Additions for tax positions of current year	104
Additions for tax positions of prior years	24
Reductions for tax positions of prior years	659
Closure of tax years	(2)
Settlements	(32)
Balance at end of period	$ 559

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Earnings Per Share [Abstract]
Net income	$ 1,495	$ 1,902	$ 5,374	$ 6,067
Basic weighted average shares (in shares)	392	394	392	394
Plus effect of: stock options and restricted stock units (in shares)	3	3	3	3
Diluted weighted average shares (in shares)	395	397	395	397
Basic (in dollars per share)	$ 3.82	$ 4.83	$ 13.72	$ 15.41
Diluted (in dollars per share)	$ 3.79	$ 4.79	$ 13.62	$ 15.29
Antidilutive stock options excluded from diluted weighted average shares (in shares)	2	0	2	1

Debt and Other Financing Arra_3

Debt and Other Financing Arrangements - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2022	Apr. 02, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total borrowings at par value	$ 29,194		$ 34,971
Unamortized discount	(101)		(117)
Unamortized debt issuance costs	(152)		(184)
Total borrowings at carrying value	28,941		34,670
Finance lease liabilities	219		200
Less: Short-term obligations and current maturities	1,010		2,537
Long-term obligations	28,150		32,333
Commercial Paper
Debt Instrument [Line Items]
Total borrowings at par value	0		2,522
Total borrowings at carrying value	0		2,522
Senior Notes
Debt Instrument [Line Items]
Total borrowings at carrying value	$ 28,869		32,072
Senior Notes | Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023
Debt Instrument [Line Items]
Variable rate, basis spread	0.35%
Term	1 year 6 months
Total borrowings at par value	$ 1,000		1,000
Senior Notes | Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023
Debt Instrument [Line Items]
Variable rate, basis spread	0.39%
Term	2 years
Total borrowings at par value	$ 500		500
Senior Notes | 0.797% 2-Year Senior Notes, Due 10/18/2023
Debt Instrument [Line Items]
Interest rate	0.797%
Term	2 years
Effective interest rate	1.04%
Total borrowings at par value	$ 1,350		1,350
Senior Notes | Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes Due 11/18/2023 (euro-denominated)
Debt Instrument [Line Items]
Variable rate, basis spread	0.20%
Term	2 years
Effective interest rate	0.39%
Total borrowings at par value	$ 1,666		1,933
Senior Notes | 0.000% 2-Year Senior Notes Due 11/18/2023 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0%
Term	2 years
Effective interest rate	0.05%
Total borrowings at par value	$ 540		625
Senior Notes | 0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0.75%
Term	8 years
Effective interest rate	0.92%
Total borrowings at par value	$ 980		1,137
Senior Notes | 1.215% 3-Year Senior Notes, Due 10/18/2024
Debt Instrument [Line Items]
Interest rate	1.215%
Term	3 years
Effective interest rate	1.42%
Total borrowings at par value	$ 2,500		2,500
Senior Notes | Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024
Debt Instrument [Line Items]
Variable rate, basis spread	0.53%
Term	3 years
Total borrowings at par value	$ 500		500
Senior Notes | 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0.125%
Term	5 years 6 months
Effective interest rate	0.39%
Total borrowings at par value	$ 784		910
Senior Notes | 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	2%
Term	10 years
Effective interest rate	2.09%
Total borrowings at par value	$ 627		728
Senior Notes | 0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0%
Term	4 years
Effective interest rate	0.13%
Total borrowings at par value	$ 540		625
Senior Notes | 3.65% 10-Year Senior Notes, Due 12/15/2025
Debt Instrument [Line Items]
Interest rate	3.65%	3.65%
Term	10 years
Total borrowings at par value	$ 0		350
Senior Notes | 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.40%
Term	8 years 6 months
Effective interest rate	1.52%
Total borrowings at par value	$ 686		796
Senior Notes | 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.45%
Term	10 years
Effective interest rate	1.64%
Total borrowings at par value	$ 490		568
Senior Notes | 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.75%
Term	7 years
Effective interest rate	1.95%
Total borrowings at par value	$ 588		682
Senior Notes | 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0.50%
Term	8 years 6 months
Effective interest rate	0.76%
Total borrowings at par value	$ 784		910
Senior Notes | 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.375%
Term	12 years
Effective interest rate	1.46%
Total borrowings at par value	$ 588		682
Senior Notes | 1.75% 7-Year Senior Notes, Due 10/15/2028
Debt Instrument [Line Items]
Interest rate	1.75%
Term	7 years
Effective interest rate	1.89%
Total borrowings at par value	$ 700		700
Senior Notes | 1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.95%
Term	12 years
Effective interest rate	2.07%
Total borrowings at par value	$ 686		796
Senior Notes | 2.60% 10-Year Senior Notes, Due 10/1/2029
Debt Instrument [Line Items]
Interest rate	2.60%
Term	10 years
Effective interest rate	2.74%
Total borrowings at par value	$ 900		900
Senior Notes | 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0.80%
Term	9 years
Effective interest rate	0.87%
Total borrowings at par value	$ 1,715		1,990
Senior Notes | 0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	0.875%
Term	12 years
Effective interest rate	1.12%
Total borrowings at par value	$ 882		1,023
Senior Notes | 2.00% 10-Year Senior Notes, Due 10/15/2031
Debt Instrument [Line Items]
Interest rate	2%
Term	10 years
Effective interest rate	2.23%
Total borrowings at par value	$ 1,200		1,200
Senior Notes | 2.375% 12-Year Senior Notes, Due 4/15/2032 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	2.375%
Term	12 years
Effective interest rate	2.53%
Total borrowings at par value	$ 588		682
Senior Notes | 1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.125%
Term	12 years
Effective interest rate	1.19%
Total borrowings at par value	$ 1,470		1,706
Senior Notes | 2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	2.875%
Term	20 years
Effective interest rate	2.94%
Total borrowings at par value	$ 686		796
Senior Notes | 1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.50%
Term	20 years
Effective interest rate	1.73%
Total borrowings at par value	$ 882		1,023
Senior Notes | 2.80% 20-Year Senior Notes, Due 10/15/2041
Debt Instrument [Line Items]
Interest rate	2.80%
Term	20 years
Effective interest rate	2.90%
Total borrowings at par value	$ 1,200		1,200
Senior Notes | 1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.625%
Term	20 years
Effective interest rate	1.75%
Total borrowings at par value	$ 1,225		1,421
Senior Notes | 5.30% 30-Year Senior Notes, Due 2/1/2044
Debt Instrument [Line Items]
Interest rate	5.30%
Term	30 years
Effective interest rate	5.37%
Total borrowings at par value	$ 400		400
Senior Notes | 4.10% 30-Year Senior Notes, Due 8/15/2047
Debt Instrument [Line Items]
Interest rate	4.10%
Term	30 years
Effective interest rate	4.23%
Total borrowings at par value	$ 750		750
Senior Notes | 1.875% 30-Year Senior Notes, Due 10/1/2049 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	1.875%
Term	30 years
Effective interest rate	1.97%
Total borrowings at par value	$ 980		1,137
Senior Notes | 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	2%
Term	30 years
Effective interest rate	2.06%
Total borrowings at par value	$ 735		853
Other
Debt Instrument [Line Items]
Total borrowings at par value	72		76
Total borrowings at carrying value	$ 72		$ 76

Debt and Other Financing Arra_4

Debt and Other Financing Arrangements (Details)	3 Months Ended	9 Months Ended
	Apr. 02, 2022 USD ($)	Oct. 01, 2022 USD ($)	Oct. 02, 2021 USD ($)
Short-term Financing [Line Items]
Loss on early extinguishment of debt	$ 26,000,000	$ 26,000,000	$ 197,000,000
Senior Notes
Short-term Financing [Line Items]
Redemption price		100%
Revolving Credit Facility
Short-term Financing [Line Items]
Borrowing capacity		$ 5,000,000,000
Minimum consolidated interest coverage ratio		3.5
Borrowings outstanding		$ 0
3.65% 10-Year Senior Notes, Due 12/15/2025 | Senior Notes
Short-term Financing [Line Items]
Interest rate	3.65%	3.65%
0.000% 2-Year Senior Notes Due 11/18/2023 (euro-denominated) | Senior Notes
Short-term Financing [Line Items]
Interest rate		0%
0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) | Senior Notes
Short-term Financing [Line Items]
Interest rate		0%
0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) | Senior Notes
Short-term Financing [Line Items]
Interest rate		0.80%
1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated) | Senior Notes
Short-term Financing [Line Items]
Interest rate		1.125%
1.625% 20-Year Senior Notes, Due 10/18/2041 (euro-denominated) | Senior Notes
Short-term Financing [Line Items]
Interest rate		1.625%
2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) | Senior Notes
Short-term Financing [Line Items]
Interest rate		2%
Commercial Paper | U.S. Commercial Paper Program
Short-term Financing [Line Items]
Maximum maturity period		397 days
Commercial Paper | Euro Commercial Paper Program
Short-term Financing [Line Items]
Maximum maturity period		183 days

Debt and Other Financing Arra_5

Debt and Other Financing Arrangements - Schedule of Subsequent Events (Details) - Subsequent Event - Senior Notes - Forecast ¥ in Millions	3 Months Ended
	Dec. 31, 2022 JPY (¥)
0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated)
Subsequent Event [Line Items]
Interest rate	0.853%
Term	3 years
Principal Value Issued	¥ 22,300
1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated)
Subsequent Event [Line Items]
Interest rate	1.054%
Term	5 years
Principal Value Issued	¥ 28,900
1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated)
Subsequent Event [Line Items]
Interest rate	1.279%
Term	7 years
Principal Value Issued	¥ 4,700
1.490% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated)
Subsequent Event [Line Items]
Interest rate	1.49%
Term	10 years
Principal Value Issued	¥ 6,300
2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated)
Subsequent Event [Line Items]
Interest rate	2.069%
Term	20 years
Principal Value Issued	¥ 14,600
2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated)
Subsequent Event [Line Items]
Interest rate	2.382%
Term	30 years
Principal Value Issued	¥ 33,300

Comprehensive Income and Shar_3

Comprehensive Income and Shareholders' Equity - Schedule of Changes in Each Component of Accumulated Other Comprehensive Items (Details) $ in Millions	9 Months Ended
	Oct. 01, 2022 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 40,855
Ending Balance	43,608
Currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(2,065)
Other comprehensive items before reclassifications	(632)
Amounts reclassified from accumulated other comprehensive items	10
Other Comprehensive Income, Other, Net of Tax	(622)
Ending Balance	(2,687)
Unrealized losses on hedging instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(35)
Other comprehensive items before reclassifications	0
Amounts reclassified from accumulated other comprehensive items	2
Other Comprehensive Income, Other, Net of Tax	2
Ending Balance	(33)
Pension and other postretirement benefit liability adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(229)
Other comprehensive items before reclassifications	13
Amounts reclassified from accumulated other comprehensive items	8
Other Comprehensive Income, Other, Net of Tax	21
Ending Balance	(208)
Accumulated Other Comprehensive Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(2,329)
Other comprehensive items before reclassifications	(619)
Amounts reclassified from accumulated other comprehensive items	20
Other Comprehensive Income, Other, Net of Tax	(599)
Ending Balance	$ (2,928)

Comprehensive Income and Shar_4

Comprehensive Income and Shareholders' Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2022	Oct. 01, 2022	Oct. 02, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Purchases of company common stock		$ 2,000	$ 2,000
Forecast
Accumulated Other Comprehensive Income (Loss) [Line Items]
Purchases of company common stock	$ 1,000
Purchases of company common stock (in shares)	2

Fair Value Measurements and F_3

Fair Value Measurements and Fair Value of Financial Instruments - Assets and Liabilities on a Recurring Basis (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Dec. 31, 2021
Liabilities [Abstract]
Gain (loss) on investments	$ (13)	$ 25	$ (136)	$ 23
Fair Value, Recurring
Assets [Abstract]
Cash equivalents	1,395		1,395		$ 2,210
Investments	48		48		298
Warrants	12		12		15
Insurance contracts	152		152		181
Derivative contracts	167		167		36
Total Assets	1,774		1,774		2,740
Liabilities [Abstract]
Derivative contracts	2		2		1
Contingent consideration	168		168		317
Total Liabilities	170		170		318
Fair Value, Recurring | Quoted Prices in Active Markets (Level I)
Assets [Abstract]
Cash equivalents	1,395		1,395		2,210
Investments	48		48		298
Warrants	0		0		0
Insurance contracts	0		0		0
Derivative contracts	0		0		0
Total Assets	1,443		1,443		2,508
Liabilities [Abstract]
Derivative contracts	0		0		0
Contingent consideration	0		0		0
Total Liabilities	0		0		0
Fair Value, Recurring | Significant Other Observable Inputs (Level 2)
Assets [Abstract]
Cash equivalents	0		0		0
Investments	0		0		0
Warrants	12		12		15
Insurance contracts	152		152		181
Derivative contracts	167		167		36
Total Assets	331		331		232
Liabilities [Abstract]
Derivative contracts	2		2		1
Contingent consideration	0		0		0
Total Liabilities	2		2		1
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets [Abstract]
Cash equivalents	0		0		0
Investments	0		0		0
Warrants	0		0		0
Insurance contracts	0		0		0
Derivative contracts	0		0		0
Total Assets	0		0		0
Liabilities [Abstract]
Derivative contracts	0		0		0
Contingent consideration	168		168		317
Total Liabilities	$ 168		$ 168		$ 317

Fair Value Measurements and F_4

Fair Value Measurements and Fair Value of Financial Instruments - Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Contingent consideration - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 216	$ 149	$ 317	$ 70
Acquisitions (including assumed balances)	0	0	(18)	179
Payments	(32)	(1)	(64)	(43)
Changes in fair value included in earnings	(16)	23	(67)	(35)
Ending balance	$ 168	$ 171	$ 168	$ 171
Fair Value, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Income [Extensible Enumeration]	Selling, general and administrative expenses	Selling, general and administrative expenses	Selling, general and administrative expenses	Selling, general and administrative expenses

Fair Value Measurements and F_5

Fair Value Measurements and Fair Value of Financial Instruments - Derivative Assets & Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2022	Dec. 31, 2021
Cross-currency interest rate swaps | Derivatives Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value – assets	$ 145	$ 25
Fair value – liabilities	0	0
Cross-currency interest rate swaps | Financial instruments designated as net investment hedges
Derivatives, Fair Value [Line Items]
Notional amount	900	900
Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	1,676	2,149
Currency exchange contracts | Derivatives Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value – assets	22	11
Fair value – liabilities	2	1
Fair Value, Recurring
Derivatives, Fair Value [Line Items]
Fair value – assets	167	36
Fair value – liabilities	$ 2	$ 1

Fair Value Measurements and F_6

Fair Value Measurements and Fair Value of Financial Instruments - Derivative Instruments, Gains & Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Currency exchange contracts | Included in cost of product revenues | Derivatives Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative	$ 3	$ 7	$ 15	$ 8
Currency exchange contracts | Included in other income/(expense) | Derivatives Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative	20	(8)	32	147
Fair value hedging relationships | Interest rate swaps | Derivatives Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative	0	0	0	(3)
Fair value hedging relationships | Interest rate swaps | Included in other income/(expense) | Derivatives Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Change in gain (loss) recognized on hedged item	0	0	0	25
Derivatives designated as cash flow hedges | Interest rate swaps | Included in other income/(expense) | Derivatives Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on cash flow hedge reclassified from AOCI	(1)	(2)	(3)	(21)
Financial instruments designated as net investment hedges | Foreign currency-denominated debt and other payables | Derivatives Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on currency translation adjustment	658	297	1,691	673
Financial instruments designated as net investment hedges | Cross-currency interest rate swaps | Derivatives Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative	6	2	12	6
Gain (loss) on currency translation adjustment	$ 46	$ 20	$ 120	$ 52

Fair Value Measurements and F_7

Fair Value Measurements and Fair Value of Financial Instruments - Fair Value of Other Instruments (Details) - USD ($) $ in Millions	Oct. 01, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	$ 28,941	$ 34,670
Fair value	25,108	36,047
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	28,869	32,072
Fair value	25,036	33,449
Commercial Paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	0	2,522
Fair value	0	2,522
Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	72	76
Fair value	$ 72	$ 76

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Dec. 31, 2021	Dec. 31, 2020
Non-cash Investing and Financing Activities [Abstract]
Acquired but unpaid property, plant and equipment	$ 213	$ 257
Fair value of acquisition contingent consideration	0	179
Declared but unpaid dividends	119	104
Issuance of stock upon vesting of restricted stock units	225	237
Cash and cash equivalents	2,919		$ 4,477
Restricted cash included in other current assets	14		13
Restricted cash included in other assets	1		1
Cash, cash equivalents and restricted cash	$ 2,934	$ 12,048	$ 4,491	$ 10,336
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets		Other current assets
Restricted Cash and Cash Equivalents, Noncurrent, Asset, Statement of Financial Position [Extensible Enumeration]	Other assets		Other assets

Restructuring and Other Costs_2

Restructuring and Other Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Nov. 04, 2022
Restructuring Cost and Reserve [Line Items]
Workforce reduction percentage			0.50%
Restructuring and other costs	$ 33	$ 18	$ 59	$ 151
Life Sciences Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	5		11
Analytical Instruments
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	2		6
Specialty Diagnostics
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	19		22
Laboratory Products and Biopharma Services
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	$ 7		$ 20
Forecast
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges					$ 85

Restructuring and Other Costs -

Restructuring and Other Costs - Reserves (Details) $ in Millions	9 Months Ended
	Oct. 01, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 17
Net restructuring charges incurred in 2022	31
Payments	(30)
Currency translation	(1)
Ending balance	17
Non-cash charges	$ 28