Thermo Fisher Scientific (TMO) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2023 shares
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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	386,372,321
Entity Central Index Key	0000097745
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
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
3.200% Notes due 2026
Entity Listings [Line Items]
Title of 12(b) Security	3.200% Notes due 2026
Trading Symbol	TMO 26B
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
3.650% Notes due 2034
Entity Listings [Line Items]
Title of 12(b) Security	3.650% Notes due 2034
Trading Symbol	TMO 34
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

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 6,151	$ 8,524
Accounts receivable, less allowances of $184 and $189	8,370	8,115
Inventories	5,404	5,634
Contract assets, net	1,465	1,312
Other current assets	1,702	1,644
Total current assets	23,092	25,229
Property, plant and equipment, net	9,167	9,280
Acquisition-related intangible assets, net	17,091	17,442
Other assets	4,124	4,007
Goodwill	43,583	41,196
Total assets	97,057	97,154
Current liabilities:
Short-term obligations and current maturities of long-term obligations	4,795	5,579
Accounts payable	2,508	3,381
Accrued payroll and employee benefits	1,460	2,095
Contract liabilities	2,547	2,601
Other accrued expenses	2,848	3,354
Total current liabilities	14,158	17,010
Deferred income taxes	2,620	2,849
Other long-term liabilities	4,326	4,238
Long-term obligations	30,489	28,909
Redeemable noncontrolling interest	118	116
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; 441,889,500 and 440,668,112 shares issued	442	441
Capital in excess of par value	17,165	16,743
Retained earnings	45,869	41,910
Treasury stock at cost, 55,517,179 and 50,157,275 shares	(15,121)	(12,017)
Accumulated other comprehensive income/(loss)	(3,027)	(3,099)
Total Thermo Fisher Scientific Inc. shareholders’ equity	45,328	43,978
Noncontrolling interests	18	54
Total equity	45,346	44,032
Total liabilities, redeemable noncontrolling interest and equity	$ 97,057	$ 97,154

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance	$ 184	$ 189
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)	441,889,500	440,668,112
Treasury stock at cost (in shares)	55,517,179	50,157,275

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Revenues
Revenues	$ 10,574	$ 10,677	$ 31,971	$ 33,465
Costs and operating expenses:
Selling, general and administrative expenses	2,049	2,208	6,313	6,694
Research and development expenses	319	351	1,010	1,080
Restructuring and other costs	84	33	379	59
Total costs and operating expenses	8,710	8,967	26,966	26,933
Operating income	1,864	1,710	5,005	6,532
Interest income	246	68	570	122
Interest expense	(359)	(173)	(985)	(457)
Other income/(expense)	14	(4)	(32)	(139)
Income before income taxes	1,765	1,601	4,558	6,058
Provision for income taxes	(53)	(31)	(151)	(530)
Equity in earnings/(losses) of unconsolidated entities	(17)	(72)	(58)	(142)
Net income	1,695	1,498	4,349	5,386
Less: net income/(losses) attributable to noncontrolling interests and redeemable noncontrolling interest	(20)	3	(16)	12
Net income attributable to Thermo Fisher Scientific Inc.	$ 1,715	$ 1,495	$ 4,365	$ 5,374
Earnings per share attributable to Thermo Fisher Scientific Inc.
Basic (in dollars per share)	$ 4.44	$ 3.82	$ 11.31	$ 13.72
Diluted (in dollars per share)	$ 4.42	$ 3.79	$ 11.25	$ 13.62
Weighted average shares
Basic (in shares)	386	392	386	392
Diluted (in shares)	388	395	388	395
Product revenues
Revenues
Revenues	$ 6,157	$ 6,583	$ 18,832	$ 21,603
Costs and operating expenses:
Cost of revenues	3,214	3,494	9,829	10,565
Service revenues
Revenues
Revenues	4,417	4,094	13,139	11,862
Costs and operating expenses:
Cost of revenues	$ 3,044	$ 2,881	$ 9,435	$ 8,535

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Comprehensive income
Net income	$ 1,695	$ 1,498	$ 4,349	$ 5,386
Currency translation adjustment:
Currency translation adjustment (net of tax provision (benefit) of $71, $157, $35 and $419)	(112)	(216)	57	(632)
Unrealized gains and losses on hedging instruments:
Reclassification adjustment for losses included in net income (net of tax (provision) benefit of $0, $0, $1 and $1)	1	1	5	2
Pension and other postretirement benefit liability adjustments:
Pension and other postretirement benefit liability adjustments arising during the period (net of tax (provision) benefit of $(1), $(3), $(1) and $(6))	2	4	2	13
Amortization of net loss included in net periodic pension cost (net of tax (provision) benefit of $(1), $0, $(1) and $2)	0	4	(2)	8
Total other comprehensive income/(loss)	(109)	(207)	62	(609)
Comprehensive income	1,586	1,291	4,411	4,777
Less: comprehensive income/(loss) attributable to noncontrolling interests and redeemable noncontrolling interest	(26)	0	(26)	2
Comprehensive income attributable to Thermo Fisher Scientific Inc.	$ 1,612	$ 1,291	$ 4,437	$ 4,775

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Statement of Comprehensive Income [Abstract]
Tax provision (benefit) on currency translation adjustment	$ 71	$ 157	$ 35	$ 419
Tax provision (benefit) on reclassification adjustment for losses on hedging instruments recognized in net income	0	0	(1)	(1)
Tax benefit (provision) on pension and other postretirement benefit liability adjustments arising during the period	(1)	(3)	(1)	(6)
Tax benefit on amortization of net loss and prior service benefit included in net periodic pension cost	$ (1)	$ 0	$ (1)	$ 2

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Operating activities
Net income	$ 4,349	$ 5,386
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	792	730
Amortization of acquisition-related intangible assets	1,775	1,803
Change in deferred income taxes	(631)	(862)
Loss on early extinguishment of debt	0	26
Stock-based compensation	217	232
Other non-cash expenses, net	441	443
Changes in assets and liabilities, excluding the effects of acquisitions	(2,260)	(2,091)
Net cash provided by operating activities	4,683	5,667
Investing activities
Acquisitions, net of cash acquired	(3,660)	(39)
Purchase of property, plant and equipment	(1,074)	(1,693)
Proceeds from sale of property, plant and equipment	76	18
Other investing activities, net	(108)	80
Net cash used in investing activities	(4,766)	(1,634)
Financing activities
Net proceeds from issuance of debt	3,466	0
Repayment of debt	(2,000)	(375)
Proceeds from issuance of commercial paper	1,620	1,231
Repayments of commercial paper	(1,935)	(3,690)
Purchases of company common stock	(3,000)	(2,000)
Dividends paid	(387)	(338)
Other financing activities, net	42	(29)
Net cash used in financing activities	(2,194)	(5,201)
Exchange rate effect on cash	(92)	(389)
Decrease in cash, cash equivalents and restricted cash	(2,369)	(1,557)
Cash, cash equivalents and restricted cash at beginning of period	8,537	4,491
Cash, cash equivalents and restricted cash at end of period	$ 6,168	$ 2,934

Condensed Consolidated Statem_5

Condensed 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
Beginning Balance at Dec. 31, 2021	$ 122
Redeemable Noncontrolling Interest [Roll Forward]
Net income/(loss)	14
Other comprehensive income/(loss)	(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					45,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)		1,000,000
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/(loss)	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					48,000,000
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/(loss)	5
Other comprehensive income/(loss)	(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	5		52		$ (47)		5
Stock-based compensation	77		77				77
Dividends declared	(117)			(117)			(117)
Net income/(loss)	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					48,000,000
Ending Balance at Oct. 01, 2022	43,608	$ 440	16,596	40,452	$ (11,011)	(2,928)	43,549	59
Beginning Balance at Dec. 31, 2022	116
Redeemable Noncontrolling Interest [Roll Forward]
Net income/(loss)	14
Other comprehensive income/(loss)	(5)
Contributions from (distributions to) noncontrolling interests	(7)
Ending Balance at Sep. 30, 2023	118
Balance (in shares) at Dec. 31, 2022		441,000,000
Beginning Balance at Dec. 31, 2022	$ 44,032	$ 441	16,743	41,910	$ (12,017)	(3,099)	43,978	54
Treasury stock beginning balance (in shares) at Dec. 31, 2022	50,157,275				50,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)		1,000,000			1,000,000
Issuance of shares under employees' and directors' stock plans	$ 131	$ 1	205		$ (75)		131
Stock-based compensation	217		217				217
Purchases of company common stock (in shares)					5,000,000
Purchases of company common stock	(3,000)				$ (3,000)		(3,000)
Dividends declared	(406)			(406)			(406)
Net income/(loss)	4,335			4,365			4,365	(30)
Other comprehensive items	67					72	72	(5)
Contributions from (distributions to) noncontrolling interests	(1)							(1)
Excise tax from stock repurchases	$ (29)				$ (29)		(29)
Balance (in shares) at Sep. 30, 2023		442,000,000
Treasury stock ending balance (in shares) at Sep. 30, 2023	55,517,179				56,000,000
Ending Balance at Sep. 30, 2023	$ 45,346	$ 442	17,165	45,869	$ (15,121)	(3,027)	45,328	18
Beginning Balance at Jul. 01, 2023	113
Redeemable Noncontrolling Interest [Roll Forward]
Net income/(loss)	6
Other comprehensive income/(loss)	(1)
Ending Balance at Sep. 30, 2023	118
Balance (in shares) at Jul. 01, 2023		441,000,000
Beginning Balance at Jul. 01, 2023	43,802	$ 441	17,030	44,289	$ (15,084)	(2,924)	43,752	50
Treasury stock beginning balance (in shares) at Jul. 01, 2023					55,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares under employees' and directors' stock plans (in shares)		1,000,000			1,000,000
Issuance of shares under employees' and directors' stock plans	32	$ 1	68		$ (37)		32
Stock-based compensation	67		67				67
Dividends declared	(135)			(135)			(135)
Net income/(loss)	1,689			1,715			1,715	(26)
Other comprehensive items	(108)					(103)	(103)	(5)
Contributions from (distributions to) noncontrolling interests	$ (1)							(1)
Balance (in shares) at Sep. 30, 2023		442,000,000
Treasury stock ending balance (in shares) at Sep. 30, 2023	55,517,179				56,000,000
Ending Balance at Sep. 30, 2023	$ 45,346	$ 442	$ 17,165	$ 45,869	$ (15,121)	$ (3,027)	$ 45,328	$ 18

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Redeemable Noncontrolling Interest and Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.35	$ 0.30	$ 1.05	$ 0.90

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	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 September 30, 2023, the results of operations for the three- and nine-month periods ended September 30, 2023 and October 1, 2022, and the cash flows for the nine-month periods ended September 30, 2023 and October 1, 2022. Interim results are not necessarily indicative of results for a full year. The condensed consolidated balance sheet presented as of December 31, 2022 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 2022 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 2022 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 September 30, 2023. Inventories The components of inventories are as follows: (In millions) September 30, 2023 December 31, 2022 Raw materials $ 2,223 $ 2,405 Work in process 743 660 Finished goods 2,438 2,569 Inventories $ 5,404 $ 5,634 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. Actual results could differ from those estimates. Recent Accounting Pronouncements 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 adopted some aspects of this guidance in 2023 using a retrospective method and will adopt other aspects in 2024 using a prospective method. The adoption of this guidance did not have, and 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. 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 adopted this guidance in the fourth quarter of 2022 using a prospective method. The adoption of this guidance did not have a material impact on the company’s disclosures.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	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. 2023 On January 3, 2023, the company acquired, within the Specialty Diagnostics segment, The Binding Site Group, a U.K.-based provider of specialty diagnostic assays and instruments to improve the diagnosis and management of blood cancers and immune system disorders. The acquisition expands the segment’s portfolio with the addition of pioneering innovation in diagnostics and monitoring for multiple myeloma. The goodwill recorded as a result of this business combination is not tax deductible. On August 14, 2023, the company acquired, within the Laboratory Products and Biopharma Services segment, CorEvitas, LLC, a U.S.-based provider of regulatory-grade, real-world evidence for approved medical treatments and therapies. The acquisition expands the segment’s portfolio with the addition of highly complementary real-world evidence solutions to enhance decision-making as well as the time and cost of drug development. The goodwill recorded as a result of this business combination is not expected to be tax deductible. The components of the purchase price and net assets acquired are as follows: (In millions) The Binding Site CorEvitas Purchase price Cash paid $ 2,412 $ 730 Debt settled 307 184 Cash acquired (20) (4) $ 2,699 $ 910 Net assets acquired Definite-lived intangible assets: Customer relationships $ 868 $ 260 Product technology 172 47 Tradenames 42 — Backlog — 46 Goodwill 1,756 626 Net tangible assets 140 (1) Deferred tax assets (liabilities) (279) (68) $ 2,699 $ 910 In addition, in 2023, the company acquired, within the Analytical Instruments segment, a U.S.-based developer of Raman-based spectroscopy solutions for in-line measurement. The weighted-average amortization period for definite-lived intangible assets acquired in 2023 are 18 years for customer relationships, 14 years for product technology, 15 years for tradenames, and 13 years for backlog. The weighted average amortization period for all definite-lived intangible assets acquired in 2023 is 17 years. Proposed Acquisition

Revenue and Contract-related Ba

Revenue and Contract-related Balances	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue and Contract-related Balances	Revenues and Contract-related Balances Disaggregated Revenues Revenues by type are as follows: Three months ended Nine months ended (In millions) September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Revenues Consumables $ 4,289 $ 4,651 $ 13,228 $ 15,754 Instruments 1,868 1,932 5,604 5,849 Services 4,417 4,094 13,139 11,862 Consolidated revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465 Revenues by geographic region based on customer location are as follows: Three months ended Nine months ended (In millions) September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Revenues North America $ 5,668 $ 5,962 $ 17,160 $ 18,317 Europe 2,643 2,406 7,898 8,007 Asia-Pacific 1,913 1,971 5,801 6,077 Other regions 350 338 1,112 1,064 Consolidated revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465 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 September 30, 2023 was $26.81 billion. The company will recognize revenues for these performance obligations as they are satisfied, approximately 53% 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) September 30, 2023 December 31, 2022 Current contract assets, net $ 1,465 $ 1,312 Noncurrent contract assets, net 5 7 Current contract liabilities 2,547 2,601 Noncurrent contract liabilities 1,348 1,179 In the three and nine months ended September 30, 2023, the company recognized revenues of $0.35 billion and $2.32 billion, respectively, that were included in the contract liabilities balance at December 31, 2022. 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. Noncurrent contract liabilities increased during 2023 primarily due to rights to advanced payments from a customer.

Business Segment and Geographic

Business Segment and Geographical Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segment and Geographical Information	Business Segment and Geographical Information Business Segment Information Three months ended Nine months ended September 30, October 1, September 30, October 1, (In millions) 2023 2022 2023 2022 Revenues Life Sciences Solutions $ 2,433 $ 2,962 $ 7,508 $ 10,485 Analytical Instruments 1,754 1,621 5,226 4,746 Specialty Diagnostics 1,083 1,065 3,300 3,648 Laboratory Products and Biopharma Services 5,728 5,585 17,322 16,564 Eliminations (424) (556) (1,385) (1,978) Consolidated revenues 10,574 10,677 31,971 33,465 Segment Income Life Sciences Solutions 872 1,039 2,525 4,542 Analytical Instruments 468 386 1,321 1,031 Specialty Diagnostics 283 220 860 816 Laboratory Products and Biopharma Services 937 725 2,554 2,036 Subtotal reportable segments 2,560 2,370 7,260 8,425 Cost of revenues adjustments (14) (22) (73) (41) Selling, general and administrative expenses adjustments (14) (11) (28) 10 Restructuring and other costs (84) (33) (379) (59) Amortization of acquisition-related intangible assets (584) (594) (1,775) (1,803) Consolidated operating income 1,864 1,710 5,005 6,532 Interest income 246 68 570 122 Interest expense (359) (173) (985) (457) Other income/(expense) 14 (4) (32) (139) Consolidated income before taxes $ 1,765 $ 1,601 $ 4,558 $ 6,058 Cost of revenues adjustments included in the above table consist of charges for the sale of inventories revalued at the date of acquisition, inventory write-downs associated with large-scale abandonment of product lines, and accelerated depreciation on manufacturing assets to be abandoned due to facility consolidations. 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) September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Revenues United States $ 5,490 $ 5,787 $ 16,608 $ 17,730 Other 5,084 4,890 15,363 15,735 Consolidated revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes in the accompanying statements 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) September 30, 2023 October 1, 2022 Statutory federal income tax rate 21 % 21 % Provision for income taxes at statutory rate $ 957 $ 1,272 Increases (decreases) resulting from: Foreign rate differential (176) (285) Income tax credits (217) (118) Global intangible low-taxed income 66 126 Foreign-derived intangible income (104) (102) Excess tax benefits from stock options and restricted stock units (60) (63) Provision for (reversal of) tax reserves, net 9 (543) Intra-entity transfers (144) (18) Foreign exchange loss on inter-company debt refinancing (112) — Provision for (reversal of) valuation allowances, net (44) 240 Withholding taxes 22 48 Tax return reassessments and settlements (63) (94) State income taxes, net of federal tax 45 133 Other, net (28) (66) Provision for income taxes $ 151 $ 530 During the third quarter of 2023, the company released a valuation allowance of $183 million in jurisdictions where the deferred tax assets are now expected to be realized. In the first nine months of 2023 the company also recorded a tax benefit of $91 million, net of related tax expenses, from a foreign exchange loss on an intercompany debt refinancing transaction, as well as a $144 million tax benefit resulting from a capital loss generated as part of an intra-entity transaction. 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 September 30, 2023 the company had $0.55 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) 2023 Balance at beginning of year $ 572 Additions for tax positions of current year 4 Additions for tax positions of prior years 26 Reductions for tax positions of prior years (31) Closure of tax years (6) Settlements (20) Balance at end of period $ 545

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Three months ended Nine months ended September 30, October 1, September 30, October 1, (In millions except per share amounts) 2023 2022 2023 2022 Net income attributable to Thermo Fisher Scientific Inc. $ 1,715 $ 1,495 $ 4,365 $ 5,374 Basic weighted average shares 386 392 386 392 Plus effect of: stock options and restricted stock units 2 3 2 3 Diluted weighted average shares 388 395 388 395 Basic earnings per share $ 4.44 $ 3.82 $ 11.31 $ 13.72 Diluted earnings per share $ 4.42 $ 3.79 $ 11.25 $ 13.62 Antidilutive stock options excluded from diluted weighted average shares 2 2 2 2

Debt and Other Financing Arrang

Debt and Other Financing Arrangements	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt and Other Financing Arrangements	Debt and Other Financing Arrangements Effective interest rate at September 30, September 30, December 31, (Dollars in millions) 2023 2023 2022 Commercial Paper $ — $ 310 Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023 — 1,000 Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023 — 500 0.797% 2-Year Senior Notes, Due 10/18/2023 1.03 % 1,350 1,350 Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes, Due 11/18/2023 (euro-denominated) 3.79 % 1,797 1,819 0.000% 2-Year Senior Notes, Due 11/18/2023 (euro-denominated) 0.06 % 582 589 0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated) 0.93 % 1,057 1,071 Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024 — 500 1.215% 3-Year Senior Notes, Due 10/18/2024 1.42 % 2,500 2,500 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated) 0.40 % 846 857 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated) 2.09 % 677 686 0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated) 1.05 % 149 170 0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) 0.15 % 582 589 3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated) 3.38 % 529 535 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated) 1.52 % 740 749 4.953% 3-Year Senior Notes, Due 8/10/2026 5.19 % 600 — 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated) 1.65 % 529 535 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated) 1.96 % 634 642 1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated) 1.18 % 194 221 4.80% 5-Year Senior Notes, Due 11/21/2027 5.00 % 600 600 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated) 0.76 % 846 857 0.77% 5-Year Senior Notes, Due 9/6/2028 (yen-denominated) 0.89 % 194 — 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated) 1.46 % 634 642 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 % 740 749 2.60% 10-Year Senior Notes, Due 10/1/2029 2.74 % 900 900 1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated) 1.44 % 31 36 4.977% 7-Year Senior Notes, Due 8/10/2030 5.13 % 750 — 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) 0.88 % 1,850 1,873 Effective interest rate at September 30, September 30, December 31, (Dollars in millions) 2023 2023 2022 0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated) 1.13 % 952 963 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) 2.54 % 634 642 1.49% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated) 1.60 % 42 48 4.95% 10-Year Senior Notes, Due 11/21/2032 5.09 % 600 600 5.086% 10-Year Senior Notes, Due 8/10/2033 5.20 % 1,000 — 1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated) 1.20 % 1,586 1,606 3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated) 3.76 % 793 803 1.50% 12-Year Senior Notes, due 9/6/2035 (yen-denominated) 1.57 % 144 — 2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated) 2.94 % 740 749 1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated) 1.73 % 952 963 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) 1.77 % 1,322 1,339 2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated) 2.13 % 98 111 5.404% 20-Year Senior Notes, due 8/10/2043 5.50 % 600 — 2.02% 20-Year Senior Notes, due 9/6/2043 (yen-denominated) 2.06 % 194 — 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) 1.98 % 1,057 1,071 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) 2.06 % 793 803 2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated) 2.43 % 223 254 Other 76 79 Total borrowings at par value 35,367 34,561 Unamortized discount (108) (112) Unamortized debt issuance costs (175) (171) Total borrowings at carrying value 35,084 34,278 Finance lease liabilities 200 210 Less: Short-term obligations and current maturities 4,795 5,579 Long-term obligations $ 30,489 $ 28,909 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 September 30, 2023, 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. 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 U.S. dollar and euro-denominated fixed rate senior notes and yen-denominated private placement notes may be redeemed at a redemption price of 100% of the principal amount plus a specified make-whole premium and accrued interest, together with swap breakage costs payable to holders of yen-denominated private placement notes who have entered into cross-currency swap agreements. The company is subject to certain affirmative and negative covenants under the indentures and note purchase agreement governing the senior notes, the most restrictive of which limits the ability of the company to pledge certain property and assets as security under borrowing arrangements. The company was in compliance with all covenants at September 30, 2023. 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 statements 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 September 30, 2023, there have been no material changes to the accruals for pending environmental-related matters disclosed in the company’s 2022 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 2022 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 such matters 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_(Loss)

Comprehensive Income/(Loss)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Comprehensive Income/(Loss)	Comprehensive Income/(Loss) Comprehensive Income (Loss) Changes in each component of accumulated other comprehensive income/(loss), net of tax, are as follows: (In millions) Currency Unrealized Pension and Total Balance at December 31, 2022 $ (2,880) $ (33) $ (186) $ (3,099) Other comprehensive income/(loss) before reclassifications 57 — 2 59 Amounts reclassified from accumulated other comprehensive income/(loss) 10 5 (2) 13 Net other comprehensive income/(loss) 67 5 — 72 Balance at September 30, 2023 $ (2,813) $ (28) $ (186) $ (3,027)

Fair Value Measurements and Fai

Fair Value Measurements and Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements and Fair Value of Financial Instruments	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: September 30, Quoted Significant Significant (In millions) 2023 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 2,662 $ 2,662 $ — $ — Bank time deposits 6 6 — — Investments 19 19 — — Warrants 11 — 11 — Insurance contracts 193 — 193 — Derivative contracts 88 — 88 — Total assets $ 2,979 $ 2,687 $ 292 $ — Liabilities Derivative contracts $ 153 $ — $ 153 $ — Contingent consideration 81 — — 81 Total liabilities $ 234 $ — $ 153 $ 81 December 31, Quoted Significant Significant (In millions) 2022 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 5,804 $ 5,804 $ — $ — Investments 25 25 — — Warrants 12 — 12 — Insurance contracts 162 — 162 — Derivative contracts 79 — 79 — Total assets $ 6,082 $ 5,829 $ 253 $ — Liabilities Derivative contracts $ 101 $ — $ 101 $ — Contingent consideration 174 — — 174 Total liabilities $ 275 $ — $ 101 $ 174 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 September 30, 2023, the company recorded $11 million and $(33) million, respectively, of net gains/(losses) on investments, which are included in other income/(expense) in the accompanying statements of income. 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 statements 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 September 30, October 1, September 30, October 1, (In millions) 2023 2022 2023 2022 Contingent consideration Beginning balance $ 90 $ 216 $ 174 $ 317 Acquisitions (including assumed balances) — — 1 (18) Payments (5) (32) (63) (64) Changes in fair value included in earnings (4) (16) (31) (67) Ending balance $ 81 $ 168 $ 81 $ 168 Derivative Contracts The following table provides the aggregate notional value of outstanding derivative contracts. (In millions) September 30, 2023 December 31, 2022 Notional amount Cross-currency interest rate swaps - designated as net investment hedges $ 5,650 $ 2,100 Currency exchange contracts 1,607 2,434 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 sheets and statements of income. Fair value – assets Fair value – liabilities September 30, December 31, September 30, December 31, (In millions) 2023 2022 2023 2022 Derivatives designated as hedging instruments Cross-currency interest rate swaps (a) $ 87 $ 77 $ 152 $ 85 Derivatives not designated as hedging instruments Currency exchange contracts (b) 1 2 1 16 Total derivatives $ 88 $ 79 $ 153 $ 101 (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 September 30, October 1, September 30, October 1, (In millions) 2023 2022 2023 2022 Derivatives designated as cash flow hedges Interest rate swaps Amount reclassified from accumulated other comprehensive items to interest expense $ (1) $ (1) $ (6) $ (3) Financial instruments designated as net investment hedges Foreign currency-denominated debt and other payables Included in currency translation adjustment within other comprehensive items 364 658 158 1,691 Cross-currency interest rate swaps Included in currency translation adjustment within other comprehensive items (56) 46 (6) 120 Included in interest expense 35 6 68 12 Derivatives not designated as hedging instruments Currency exchange contracts Included in cost of product revenues 2 3 (1) 15 Included in other income/(expense) (6) 20 (8) 32 Gains and losses recognized on currency exchange contracts are included in the accompanying statements of income together with the corresponding, offsetting losses and gains on the underlying hedged transactions. The company uses foreign currency-denominated debt, certain foreign currency-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 currency-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 currency-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 2022 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: September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair (In millions) value value value value Senior notes $ 35,008 $ 30,700 $ 33,889 $ 29,901 Commercial paper — — 310 310 Other 76 76 79 79 $ 35,084 $ 30,776 $ 34,278 $ 30,290 The fair value of debt instruments, excluding private placement notes, 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. The fair value of private placement notes was determined based on internally developed pricing models and unobservable inputs, which represent level 3 measurements.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Nine months ended (In millions) September 30, 2023 October 1, 2022 Non-cash investing and financing activities Acquired but unpaid property, plant and equipment $ 207 $ 213 Declared but unpaid dividends 137 119 Issuance of stock upon vesting of restricted stock units 198 225 Excise tax from stock repurchases 29 — Cash, cash equivalents and restricted cash is included in the accompanying balance sheet as follows: (In millions) September 30, 2023 December 31, 2022 Cash and cash equivalents $ 6,151 $ 8,524 Restricted cash included in other current assets 10 12 Restricted cash included in other assets 7 1 Cash, cash equivalents and restricted cash $ 6,168 $ 8,537 Amounts included in restricted cash primarily 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
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other Costs	Restructuring and Other Costs In the first nine months of 2023, restructuring and other costs primarily included continuing charges for headcount reductions and facility consolidations in an effort to streamline operations, impairment of long-lived assets, and, to a lesser extent, net charges for pre-acquisition litigation and other matters. In 2023, severance actions associated with facility consolidations and cost reduction measures affected approximately 4% of the company’s workforce. As of November 3, 2023, the company has identified restructuring actions that will result in additional charges of approximately $65 million, primarily in 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) September 30, 2023 September 30, 2023 Life Sciences Solutions $ 20 $ 100 Analytical Instruments 8 31 Specialty Diagnostics (1) 9 Laboratory Products and Biopharma Services 52 228 Corporate 5 11 $ 84 $ 379 The following table summarizes the changes in the company’s accrued restructuring balance, which is included in other accrued expenses in the accompanying balance sheet. Other amounts reported as restructuring and other costs in the accompanying statements of income have been summarized in the notes to the table. (In millions) Total (a) Balance at December 31, 2022 $ 41 Net restructuring charges incurred in 2023 (b) (c) 175 Payments (142) Currency translation (1) Balance at September 30, 2023 $ 73 (a) The movements in the restructuring liability principally consist of severance and other costs associated with facility consolidations. (b) Excludes $165 million of net charges, principally $127 million of charges for impairment of long-lived assets in the Laboratory Products and Biopharma Services and Life Sciences Solutions segments, $26 million of contract termination costs associated with facility closures in the Laboratory Products and Biopharma Services segment, $18 million of net charges for pre-acquisition litigation and other matters. (c) Excludes $39 million of charges for impairment of a disposal group that was held for sale beginning in the third quarter of 2023. The loss attributable to Thermo Fisher Scientific Inc. was reduced by $19 million attributable to a noncontrolling interest. The company expects to pay accrued restructuring costs primarily through 2023.

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
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. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements 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 adopted some aspects of this guidance in 2023 using a retrospective method and will adopt other aspects in 2024 using a prospective method. The adoption of this guidance did not have, and 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. 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 adopted this guidance in the fourth quarter of 2022 using a prospective method. The adoption of this guidance did not have a material impact on the company’s disclosures.
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
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Inventories	Inventories The components of inventories are as follows: (In millions) September 30, 2023 December 31, 2022 Raw materials $ 2,223 $ 2,405 Work in process 743 660 Finished goods 2,438 2,569 Inventories $ 5,404 $ 5,634

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Components of Purchase Price and Net Assets Acquired	The components of the purchase price and net assets acquired are as follows: (In millions) The Binding Site CorEvitas Purchase price Cash paid $ 2,412 $ 730 Debt settled 307 184 Cash acquired (20) (4) $ 2,699 $ 910 Net assets acquired Definite-lived intangible assets: Customer relationships $ 868 $ 260 Product technology 172 47 Tradenames 42 — Backlog — 46 Goodwill 1,756 626 Net tangible assets 140 (1) Deferred tax assets (liabilities) (279) (68) $ 2,699 $ 910

Revenue and Contract-related _2

Revenue and Contract-related Balances (Tables)	9 Months Ended
	Sep. 30, 2023
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) September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Revenues Consumables $ 4,289 $ 4,651 $ 13,228 $ 15,754 Instruments 1,868 1,932 5,604 5,849 Services 4,417 4,094 13,139 11,862 Consolidated revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465 Revenues by geographic region based on customer location are as follows: Three months ended Nine months ended (In millions) September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Revenues North America $ 5,668 $ 5,962 $ 17,160 $ 18,317 Europe 2,643 2,406 7,898 8,007 Asia-Pacific 1,913 1,971 5,801 6,077 Other regions 350 338 1,112 1,064 Consolidated revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465
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) September 30, 2023 December 31, 2022 Current contract assets, net $ 1,465 $ 1,312 Noncurrent contract assets, net 5 7 Current contract liabilities 2,547 2,601 Noncurrent contract liabilities 1,348 1,179

Business Segment and Geograph_2

Business Segment and Geographical Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Business Segment Information	Business Segment Information Three months ended Nine months ended September 30, October 1, September 30, October 1, (In millions) 2023 2022 2023 2022 Revenues Life Sciences Solutions $ 2,433 $ 2,962 $ 7,508 $ 10,485 Analytical Instruments 1,754 1,621 5,226 4,746 Specialty Diagnostics 1,083 1,065 3,300 3,648 Laboratory Products and Biopharma Services 5,728 5,585 17,322 16,564 Eliminations (424) (556) (1,385) (1,978) Consolidated revenues 10,574 10,677 31,971 33,465 Segment Income Life Sciences Solutions 872 1,039 2,525 4,542 Analytical Instruments 468 386 1,321 1,031 Specialty Diagnostics 283 220 860 816 Laboratory Products and Biopharma Services 937 725 2,554 2,036 Subtotal reportable segments 2,560 2,370 7,260 8,425 Cost of revenues adjustments (14) (22) (73) (41) Selling, general and administrative expenses adjustments (14) (11) (28) 10 Restructuring and other costs (84) (33) (379) (59) Amortization of acquisition-related intangible assets (584) (594) (1,775) (1,803) Consolidated operating income 1,864 1,710 5,005 6,532 Interest income 246 68 570 122 Interest expense (359) (173) (985) (457) Other income/(expense) 14 (4) (32) (139) Consolidated income before taxes $ 1,765 $ 1,601 $ 4,558 $ 6,058
Schedule of Revenue by Country Based on Customer Location	Three months ended Nine months ended (In millions) September 30, 2023 October 1, 2022 September 30, 2023 October 1, 2022 Revenues United States $ 5,490 $ 5,787 $ 16,608 $ 17,730 Other 5,084 4,890 15,363 15,735 Consolidated revenues $ 10,574 $ 10,677 $ 31,971 $ 33,465

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of the Provision for Income Taxes	The provision for income taxes in the accompanying statements 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) September 30, 2023 October 1, 2022 Statutory federal income tax rate 21 % 21 % Provision for income taxes at statutory rate $ 957 $ 1,272 Increases (decreases) resulting from: Foreign rate differential (176) (285) Income tax credits (217) (118) Global intangible low-taxed income 66 126 Foreign-derived intangible income (104) (102) Excess tax benefits from stock options and restricted stock units (60) (63) Provision for (reversal of) tax reserves, net 9 (543) Intra-entity transfers (144) (18) Foreign exchange loss on inter-company debt refinancing (112) — Provision for (reversal of) valuation allowances, net (44) 240 Withholding taxes 22 48 Tax return reassessments and settlements (63) (94) State income taxes, net of federal tax 45 133 Other, net (28) (66) Provision for income taxes $ 151 $ 530
Schedule of Unrecognized Tax Benefits	(In millions) 2023 Balance at beginning of year $ 572 Additions for tax positions of current year 4 Additions for tax positions of prior years 26 Reductions for tax positions of prior years (31) Closure of tax years (6) Settlements (20) Balance at end of period $ 545

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Three months ended Nine months ended September 30, October 1, September 30, October 1, (In millions except per share amounts) 2023 2022 2023 2022 Net income attributable to Thermo Fisher Scientific Inc. $ 1,715 $ 1,495 $ 4,365 $ 5,374 Basic weighted average shares 386 392 386 392 Plus effect of: stock options and restricted stock units 2 3 2 3 Diluted weighted average shares 388 395 388 395 Basic earnings per share $ 4.44 $ 3.82 $ 11.31 $ 13.72 Diluted earnings per share $ 4.42 $ 3.79 $ 11.25 $ 13.62 Antidilutive stock options excluded from diluted weighted average shares 2 2 2 2

Debt and Other Financing Arra_2

Debt and Other Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	Effective interest rate at September 30, September 30, December 31, (Dollars in millions) 2023 2023 2022 Commercial Paper $ — $ 310 Floating Rate (SOFR + 0.35%) 1.5-Year Senior Notes, Due 4/18/2023 — 1,000 Floating Rate (SOFR + 0.39%) 2-Year Senior Notes, Due 10/18/2023 — 500 0.797% 2-Year Senior Notes, Due 10/18/2023 1.03 % 1,350 1,350 Floating Rate (EURIBOR + 0.20%) 2-Year Senior Notes, Due 11/18/2023 (euro-denominated) 3.79 % 1,797 1,819 0.000% 2-Year Senior Notes, Due 11/18/2023 (euro-denominated) 0.06 % 582 589 0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated) 0.93 % 1,057 1,071 Floating Rate (SOFR + 0.53%) 3-Year Senior Notes, Due 10/18/2024 — 500 1.215% 3-Year Senior Notes, Due 10/18/2024 1.42 % 2,500 2,500 0.125% 5.5-Year Senior Notes, Due 3/1/2025 (euro-denominated) 0.40 % 846 857 2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated) 2.09 % 677 686 0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated) 1.05 % 149 170 0.000% 4-Year Senior Notes, Due 11/18/2025 (euro-denominated) 0.15 % 582 589 3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated) 3.38 % 529 535 1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated) 1.52 % 740 749 4.953% 3-Year Senior Notes, Due 8/10/2026 5.19 % 600 — 1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated) 1.65 % 529 535 1.75% 7-Year Senior Notes, Due 4/15/2027 (euro-denominated) 1.96 % 634 642 1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated) 1.18 % 194 221 4.80% 5-Year Senior Notes, Due 11/21/2027 5.00 % 600 600 0.50% 8.5-Year Senior Notes, Due 3/1/2028 (euro-denominated) 0.76 % 846 857 0.77% 5-Year Senior Notes, Due 9/6/2028 (yen-denominated) 0.89 % 194 — 1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated) 1.46 % 634 642 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 % 740 749 2.60% 10-Year Senior Notes, Due 10/1/2029 2.74 % 900 900 1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated) 1.44 % 31 36 4.977% 7-Year Senior Notes, Due 8/10/2030 5.13 % 750 — 0.80% 9-Year Senior Notes, Due 10/18/2030 (euro-denominated) 0.88 % 1,850 1,873 Effective interest rate at September 30, September 30, December 31, (Dollars in millions) 2023 2023 2022 0.875% 12-Year Senior Notes, Due 10/1/2031 (euro-denominated) 1.13 % 952 963 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) 2.54 % 634 642 1.49% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated) 1.60 % 42 48 4.95% 10-Year Senior Notes, Due 11/21/2032 5.09 % 600 600 5.086% 10-Year Senior Notes, Due 8/10/2033 5.20 % 1,000 — 1.125% 12-Year Senior Notes, Due 10/18/2033 (euro-denominated) 1.20 % 1,586 1,606 3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated) 3.76 % 793 803 1.50% 12-Year Senior Notes, due 9/6/2035 (yen-denominated) 1.57 % 144 — 2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated) 2.94 % 740 749 1.50% 20-Year Senior Notes, Due 10/1/2039 (euro-denominated) 1.73 % 952 963 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) 1.77 % 1,322 1,339 2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated) 2.13 % 98 111 5.404% 20-Year Senior Notes, due 8/10/2043 5.50 % 600 — 2.02% 20-Year Senior Notes, due 9/6/2043 (yen-denominated) 2.06 % 194 — 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) 1.98 % 1,057 1,071 2.00% 30-Year Senior Notes, Due 10/18/2051 (euro-denominated) 2.06 % 793 803 2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated) 2.43 % 223 254 Other 76 79 Total borrowings at par value 35,367 34,561 Unamortized discount (108) (112) Unamortized debt issuance costs (175) (171) Total borrowings at carrying value 35,084 34,278 Finance lease liabilities 200 210 Less: Short-term obligations and current maturities 4,795 5,579 Long-term obligations $ 30,489 $ 28,909 SOFR - Secured Overnight Financing Rate EURIBOR - Euro Interbank Offered Rate

Comprehensive Income_(Loss) (Ta

Comprehensive Income/(Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Changes in Each Component of Accumulated Other Comprehensive Items	Changes in each component of accumulated other comprehensive income/(loss), net of tax, are as follows: (In millions) Currency Unrealized Pension and Total Balance at December 31, 2022 $ (2,880) $ (33) $ (186) $ (3,099) Other comprehensive income/(loss) before reclassifications 57 — 2 59 Amounts reclassified from accumulated other comprehensive income/(loss) 10 5 (2) 13 Net other comprehensive income/(loss) 67 5 — 72 Balance at September 30, 2023 $ (2,813) $ (28) $ (186) $ (3,027)

Fair Value Measurements and F_2

Fair Value Measurements and Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
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: September 30, Quoted Significant Significant (In millions) 2023 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 2,662 $ 2,662 $ — $ — Bank time deposits 6 6 — — Investments 19 19 — — Warrants 11 — 11 — Insurance contracts 193 — 193 — Derivative contracts 88 — 88 — Total assets $ 2,979 $ 2,687 $ 292 $ — Liabilities Derivative contracts $ 153 $ — $ 153 $ — Contingent consideration 81 — — 81 Total liabilities $ 234 $ — $ 153 $ 81 December 31, Quoted Significant Significant (In millions) 2022 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 5,804 $ 5,804 $ — $ — Investments 25 25 — — Warrants 12 — 12 — Insurance contracts 162 — 162 — Derivative contracts 79 — 79 — Total assets $ 6,082 $ 5,829 $ 253 $ — Liabilities Derivative contracts $ 101 $ — $ 101 $ — Contingent consideration 174 — — 174 Total liabilities $ 275 $ — $ 101 $ 174
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 September 30, October 1, September 30, October 1, (In millions) 2023 2022 2023 2022 Contingent consideration Beginning balance $ 90 $ 216 $ 174 $ 317 Acquisitions (including assumed balances) — — 1 (18) Payments (5) (32) (63) (64) Changes in fair value included in earnings (4) (16) (31) (67) Ending balance $ 81 $ 168 $ 81 $ 168
Schedule of the Aggregate Notional Value of Outstanding Derivative Contracts	The following table provides the aggregate notional value of outstanding derivative contracts. (In millions) September 30, 2023 December 31, 2022 Notional amount Cross-currency interest rate swaps - designated as net investment hedges $ 5,650 $ 2,100 Currency exchange contracts 1,607 2,434
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 sheets and statements of income. Fair value – assets Fair value – liabilities September 30, December 31, September 30, December 31, (In millions) 2023 2022 2023 2022 Derivatives designated as hedging instruments Cross-currency interest rate swaps (a) $ 87 $ 77 $ 152 $ 85 Derivatives not designated as hedging instruments Currency exchange contracts (b) 1 2 1 16 Total derivatives $ 88 $ 79 $ 153 $ 101 (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 September 30, October 1, September 30, October 1, (In millions) 2023 2022 2023 2022 Derivatives designated as cash flow hedges Interest rate swaps Amount reclassified from accumulated other comprehensive items to interest expense $ (1) $ (1) $ (6) $ (3) Financial instruments designated as net investment hedges Foreign currency-denominated debt and other payables Included in currency translation adjustment within other comprehensive items 364 658 158 1,691 Cross-currency interest rate swaps Included in currency translation adjustment within other comprehensive items (56) 46 (6) 120 Included in interest expense 35 6 68 12 Derivatives not designated as hedging instruments Currency exchange contracts Included in cost of product revenues 2 3 (1) 15 Included in other income/(expense) (6) 20 (8) 32
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: September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair (In millions) value value value value Senior notes $ 35,008 $ 30,700 $ 33,889 $ 29,901 Commercial paper — — 310 310 Other 76 76 79 79 $ 35,084 $ 30,776 $ 34,278 $ 30,290 The fair value of debt instruments, excluding private placement notes, 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. The fair value of private placement notes was determined based on internally developed pricing models and unobservable inputs, which represent level 3 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: September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair (In millions) value value value value Senior notes $ 35,008 $ 30,700 $ 33,889 $ 29,901 Commercial paper — — 310 310 Other 76 76 79 79 $ 35,084 $ 30,776 $ 34,278 $ 30,290 The fair value of debt instruments, excluding private placement notes, 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. The fair value of private placement notes was determined based on internally developed pricing models and unobservable inputs, which represent level 3 measurements.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Nine months ended (In millions) September 30, 2023 October 1, 2022 Non-cash investing and financing activities Acquired but unpaid property, plant and equipment $ 207 $ 213 Declared but unpaid dividends 137 119 Issuance of stock upon vesting of restricted stock units 198 225 Excise tax from stock repurchases 29 —
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) September 30, 2023 December 31, 2022 Cash and cash equivalents $ 6,151 $ 8,524 Restricted cash included in other current assets 10 12 Restricted cash included in other assets 7 1 Cash, cash equivalents and restricted cash $ 6,168 $ 8,537

Restructuring and Other Costs (

Restructuring and Other Costs (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Other Costs by Segment	Restructuring and other costs by segment are as follows: Three months ended Nine months ended (In millions) September 30, 2023 September 30, 2023 Life Sciences Solutions $ 20 $ 100 Analytical Instruments 8 31 Specialty Diagnostics (1) 9 Laboratory Products and Biopharma Services 52 228 Corporate 5 11 $ 84 $ 379
Summary of Changes in the Company's Accrued Restructuring Balance	The following table summarizes the changes in the company’s accrued restructuring balance, which is included in other accrued expenses in the accompanying balance sheet. Other amounts reported as restructuring and other costs in the accompanying statements of income have been summarized in the notes to the table. (In millions) Total (a) Balance at December 31, 2022 $ 41 Net restructuring charges incurred in 2023 (b) (c) 175 Payments (142) Currency translation (1) Balance at September 30, 2023 $ 73 (a) The movements in the restructuring liability principally consist of severance and other costs associated with facility consolidations. (b) Excludes $165 million of net charges, principally $127 million of charges for impairment of long-lived assets in the Laboratory Products and Biopharma Services and Life Sciences Solutions segments, $26 million of contract termination costs associated with facility closures in the Laboratory Products and Biopharma Services segment, $18 million of net charges for pre-acquisition litigation and other matters. (c) Excludes $39 million of charges for impairment of a disposal group that was held for sale beginning in the third quarter of 2023. The loss attributable to Thermo Fisher Scientific Inc. was reduced by $19 million attributable to a noncontrolling interest.

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Components of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 2,223	$ 2,405
Work in process	743	660
Finished goods	2,438	2,569
Inventories	$ 5,404	$ 5,634

Acquisitions - Components of Pu

Acquisitions - Components of Purchase Price and Net Assets Acquired (Details) - USD ($) $ in Millions			9 Months Ended
	Aug. 14, 2023	Jan. 03, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Weighted-average amortization period			17 years
Customer relationships
Business Acquisition [Line Items]
Weighted-average amortization period			18 years
Product technology
Business Acquisition [Line Items]
Weighted-average amortization period			14 years
Tradenames
Business Acquisition [Line Items]
Weighted-average amortization period			15 years
Backlog
Business Acquisition [Line Items]
Weighted-average amortization period			13 years
The Binding Site Group
Business Acquisition [Line Items]
Cash paid		$ 2,412
Debt settled		307
Cash acquired		(20)
Purchase price		2,699
Goodwill		1,756
Net tangible assets		140
Deferred tax assets (liabilities)		(279)
Net assets acquired		2,699
The Binding Site Group | Customer relationships
Business Acquisition [Line Items]
Definite-lived intangible assets:		868
The Binding Site Group | Product technology
Business Acquisition [Line Items]
Definite-lived intangible assets:		172
The Binding Site Group | Tradenames
Business Acquisition [Line Items]
Definite-lived intangible assets:		42
The Binding Site Group | Backlog
Business Acquisition [Line Items]
Definite-lived intangible assets:		$ 0
CorEvitas, LLC
Business Acquisition [Line Items]
Cash paid	$ 730
Debt settled	184
Cash acquired	(4)
Purchase price	910
Goodwill	626
Net tangible assets	(1)
Deferred tax assets (liabilities)	(68)
Net assets acquired	910
CorEvitas, LLC | Customer relationships
Business Acquisition [Line Items]
Definite-lived intangible assets:	260
CorEvitas, LLC | Product technology
Business Acquisition [Line Items]
Definite-lived intangible assets:	47
CorEvitas, LLC | Tradenames
Business Acquisition [Line Items]
Definite-lived intangible assets:	0
CorEvitas, LLC | Backlog
Business Acquisition [Line Items]
Definite-lived intangible assets:	$ 46

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ / shares in Units, $ in Billions		9 Months Ended
	Oct. 17, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Weighted-average amortization period		17 years
Olink Holding AB | Subsequent Event
Business Acquisition [Line Items]
Expected price per share of acquisition (dollars per share)	$ 26
Expected purchase price of acquisition	$ 3.1
Customer relationships
Business Acquisition [Line Items]
Weighted-average amortization period		18 years
Product technology
Business Acquisition [Line Items]
Weighted-average amortization period		14 years
Tradenames
Business Acquisition [Line Items]
Weighted-average amortization period		15 years
Backlog
Business Acquisition [Line Items]
Weighted-average amortization period		13 years

Revenue and Contract-related _3

Revenue and Contract-related Balances - Schedule of Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 10,574	$ 10,677	$ 31,971	$ 33,465
North America
Disaggregation of Revenue [Line Items]
Revenues	5,668	5,962	17,160	18,317
Europe
Disaggregation of Revenue [Line Items]
Revenues	2,643	2,406	7,898	8,007
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenues	1,913	1,971	5,801	6,077
Other regions
Disaggregation of Revenue [Line Items]
Revenues	350	338	1,112	1,064
Consumables
Disaggregation of Revenue [Line Items]
Revenues	4,289	4,651	13,228	15,754
Instruments
Disaggregation of Revenue [Line Items]
Revenues	1,868	1,932	5,604	5,849
Service revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 4,417	$ 4,094	$ 13,139	$ 11,862

Revenue and Contract-related _4

Revenue and Contract-related Balances - Revenue Performance Obligations (Details) $ in Millions	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation amount	$ 26,810
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]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation percentage	53%
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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Current contract assets, net	$ 1,465		$ 1,465		$ 1,312
Noncurrent contract assets, net	5		5		7
Current contract liabilities	2,547		2,547		2,601
Noncurrent contract liabilities	1,348		1,348		$ 1,179
Revenue recognized that was included in the current contract liability balance at the beginning of the period	$ 350	$ 340	$ 2,320	$ 2,330

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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Segment Reporting Information [Line Items]
Revenues	$ 10,574	$ 10,677	$ 31,971	$ 33,465
Segment Income	1,864	1,710	5,005	6,532
Restructuring and other costs	(84)	(33)	(379)	(59)
Amortization of acquisition-related intangible assets			(1,775)	(1,803)
Interest income	246	68	570	122
Interest expense	(359)	(173)	(985)	(457)
Other income/(expense)	14	(4)	(32)	(139)
Income before income taxes	1,765	1,601	4,558	6,058
Total Reportable Segments
Segment Reporting Information [Line Items]
Segment Income	2,560	2,370	7,260	8,425
Total Reportable Segments | Life Sciences Solutions
Segment Reporting Information [Line Items]
Revenues	2,433	2,962	7,508	10,485
Segment Income	872	1,039	2,525	4,542
Restructuring and other costs	(20)		(100)
Total Reportable Segments | Analytical Instruments
Segment Reporting Information [Line Items]
Revenues	1,754	1,621	5,226	4,746
Segment Income	468	386	1,321	1,031
Restructuring and other costs	(8)		(31)
Total Reportable Segments | Specialty Diagnostics
Segment Reporting Information [Line Items]
Revenues	1,083	1,065	3,300	3,648
Segment Income	283	220	860	816
Restructuring and other costs	1		(9)
Total Reportable Segments | Laboratory Products and Biopharma Services
Segment Reporting Information [Line Items]
Revenues	5,728	5,585	17,322	16,564
Segment Income	937	725	2,554	2,036
Restructuring and other costs	(52)		(228)
Eliminations
Segment Reporting Information [Line Items]
Revenues	(424)	(556)	(1,385)	(1,978)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Cost of revenues adjustments	(14)	(22)	(73)	(41)
Selling, general and administrative expenses adjustments	(14)	(11)	(28)	10
Restructuring and other costs	(84)	(33)	(379)	(59)
Amortization of acquisition-related intangible assets	$ (584)	$ (594)	$ (1,775)	$ (1,803)

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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 10,574	$ 10,677	$ 31,971	$ 33,465
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	5,490	5,787	16,608	17,730
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 5,084	$ 4,890	$ 15,363	$ 15,735

Income Taxes - Schedule of the

Income Taxes - Schedule of the Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax rate			21%	21%
Provision for income taxes at statutory rate			$ 957	$ 1,272
Foreign rate differential			(176)	(285)
Income tax credits			(217)	(118)
Global intangible low-taxed income			66	126
Foreign-derived intangible income			(104)	(102)
Excess tax benefits from stock options and restricted stock units			(60)	(63)
Provision for (reversal of) tax reserves, net			9	(543)
Intra-entity transfers			(144)	(18)
Foreign exchange loss on inter-company debt refinancing			(112)	0
Provision for (reversal of) valuation allowances, net			(44)	240
Withholding taxes			22	48
Tax return reassessments and settlements		$ (208)	(63)	(94)
State income taxes, net of federal tax			45	133
Other, net			(28)	(66)
Provision for income taxes	$ 53	$ 31	$ 151	$ 530

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) country	Oct. 01, 2022 USD ($)	Sep. 30, 2023 USD ($) country	Oct. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)
Income Tax Disclosure [Abstract]
Increase (decrease) to valuation allowance	$ (183)	$ 395
Tax benefit, net of related expenses, from a foreign exchange loss on debt refinancing			$ 91
Intra-entity transfers			(144)	$ (18)
Tax return reassessments and settlements		(208)	$ (63)	$ (94)
Decrease in unrecognized tax benefits		658
Expired tax credit		49
Increase in unrecognized tax benefits		$ 101
Countries with taxable presence | country	70		70
Unrecognized tax benefits	$ 545		$ 545		$ 572

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 572
Additions for tax positions of current year	4
Additions for tax positions of prior years	26
Reductions for tax positions of prior years	(31)
Closure of tax years	(6)
Settlements	(20)
Balance at end of period	$ 545

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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Earnings Per Share [Abstract]
Net income	$ 1,715	$ 1,495	$ 4,365	$ 5,374
Basic weighted average shares (in shares)	386	392	386	392
Plus effect of: stock options and restricted stock units (in shares)	2	3	2	3
Diluted weighted average shares (in shares)	388	395	388	395
Basic (in dollars per share)	$ 4.44	$ 3.82	$ 11.31	$ 13.72
Diluted (in dollars per share)	$ 4.42	$ 3.79	$ 11.25	$ 13.62
Antidilutive stock options excluded from diluted weighted average shares (in shares)	2	2	2	2

Debt and Other Financing Arra_3

Debt and Other Financing Arrangements - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total borrowings at par value	$ 35,367	$ 34,561
Unamortized discount	(108)	(112)
Unamortized debt issuance costs	(175)	(171)
Total borrowings at carrying value	35,084	34,278
Finance lease liabilities	200	210
Less: Short-term obligations and current maturities	4,795	5,579
Long-term obligations	30,489	28,909
Commercial Paper
Debt Instrument [Line Items]
Total borrowings at par value	0	310
Total borrowings at carrying value	0	310
Senior Notes
Debt Instrument [Line Items]
Total borrowings at carrying value	$ 35,008	33,889
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	$ 0	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	$ 0	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	1.03%
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	3.79%
Total borrowings at par value	$ 1,797	1,819
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	0.06%
Total borrowings at par value	$ 582	589
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	0.93%
Total borrowings at par value	$ 1,057	1,071
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	$ 0	500
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 | 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	0.40%
Total borrowings at par value	$ 846	857
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	$ 677	686
Senior Notes | 0.853% 3-Year Senior Notes, Due 10/20/2025 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	0.853%
Term	3 years
Effective interest rate	1.05%
Total borrowings at par value	$ 149	170
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	0.15%
Total borrowings at par value	$ 582	589
Senior Notes | 3.20% 3-Year Senior Notes, Due 1/21/2026 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	3.20%
Term	3 years
Effective interest rate	3.38%
Total borrowings at par value	$ 529	535
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	$ 740	749
Senior Notes | 4.953% 3-Year Senior Notes, Due 8/10/2026
Debt Instrument [Line Items]
Interest rate	4.953%
Term	3 years
Effective interest rate	5.19%
Total borrowings at par value	$ 600	0
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	1.65%
Total borrowings at par value	$ 529	535
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	1.96%
Total borrowings at par value	$ 634	642
Senior Notes | 1.054% 5-Year Senior Notes, Due 10/20/2027 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	1.054%
Term	5 years
Effective interest rate	1.18%
Total borrowings at par value	$ 194	221
Senior Notes | 4.80% 5-Year Senior Notes, Due 11/21/2027
Debt Instrument [Line Items]
Interest rate	4.80%
Term	5 years
Effective interest rate	5%
Total borrowings at par value	$ 600	600
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	$ 846	857
Senior Notes | 0.77% 5-Year Senior Notes, Due 9/6/2028 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	0.77%
Term	5 years
Effective interest rate	0.89%
Total borrowings at par value	$ 194	0
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	$ 634	642
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	$ 740	749
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 | 1.279% 7-Year Senior Notes, Due 10/19/2029 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	1.279%
Term	7 years
Effective interest rate	1.44%
Total borrowings at par value	$ 31	36
Senior Notes | 4.977% 7-Year Senior Notes, Due 8/10/2030
Debt Instrument [Line Items]
Interest rate	4.977%
Term	7 years
Effective interest rate	5.13%
Total borrowings at par value	$ 750	0
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	0.88%
Total borrowings at par value	$ 1,850	1,873
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	1.13%
Total borrowings at par value	$ 952	963
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	2.54%
Total borrowings at par value	$ 634	642
Senior Notes | 1.49% 10-Year Senior Notes, Due 10/20/2032 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	1.49%
Term	10 years
Effective interest rate	1.60%
Total borrowings at par value	$ 42	48
Senior Notes | 4.95% 10-Year Senior Notes, Due 11/21/2032
Debt Instrument [Line Items]
Interest rate	4.95%
Term	10 years
Effective interest rate	5.09%
Total borrowings at par value	$ 600	600
Senior Notes | 5.086% 10-Year Senior Notes, Due 8/10/2033
Debt Instrument [Line Items]
Interest rate	5.086%
Term	10 years
Effective interest rate	5.20%
Total borrowings at par value	$ 1,000	0
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	1.20%
Total borrowings at par value	$ 1,586	1,606
Senior Notes | 3.65% 12-Year Senior Notes, Due 11/21/2034 (euro-denominated)
Debt Instrument [Line Items]
Interest rate	3.65%
Term	12 years
Effective interest rate	3.76%
Total borrowings at par value	$ 793	803
Senior Notes | 1.50% 12-Year Senior Notes, due 9/6/2035 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	1.50%
Term	12 years
Effective interest rate	1.57%
Total borrowings at par value	$ 144	0
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	$ 740	749
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	$ 952	963
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	1.77%
Total borrowings at par value	$ 1,322	1,339
Senior Notes | 2.069% 20-Year Senior Notes, Due 10/20/2042 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	2.069%
Term	20 years
Effective interest rate	2.13%
Total borrowings at par value	$ 98	111
Senior Notes | 5.404% 20-Year Senior Notes, due 8/10/2043
Debt Instrument [Line Items]
Interest rate	5.404%
Term	20 years
Effective interest rate	5.50%
Total borrowings at par value	$ 600	0
Senior Notes | 2.02% 20-Year Senior Notes, due 9/6/2043 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	2.02%
Term	20 years
Effective interest rate	2.06%
Total borrowings at par value	$ 194	0
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	1.98%
Total borrowings at par value	$ 1,057	1,071
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	$ 793	803
Senior Notes | 2.382% 30-Year Senior Notes, Due 10/18/2052 (yen-denominated)
Debt Instrument [Line Items]
Interest rate	2.382%
Term	30 years
Effective interest rate	2.43%
Total borrowings at par value	$ 223	254
Other
Debt Instrument [Line Items]
Total borrowings at par value	76	79
Total borrowings at carrying value	$ 76	$ 79

Debt and Other Financing Arra_4

Debt and Other Financing Arrangements (Details)	3 Months Ended	9 Months Ended
	Apr. 02, 2022 USD ($)	Sep. 30, 2023 USD ($)	Oct. 01, 2022 USD ($)
Short-term Financing [Line Items]
Loss on early extinguishment of debt	$ 26,000,000	$ 0	$ 26,000,000
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
Senior Notes 3.65% Due 2025 [Member] | Senior Notes
Short-term Financing [Line Items]
Interest rate	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

Comprehensive Income_(Loss) - S

Comprehensive Income/(Loss) - Schedule of Changes in Each Component of Accumulated Other Comprehensive Items (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 44,032
Ending Balance	45,346
Currency translation adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(2,880)
Other comprehensive income/(loss) before reclassifications	57
Amounts reclassified from accumulated other comprehensive income/(loss)	10
Other Comprehensive Income, Other, Net of Tax	67
Ending Balance	(2,813)
Unrealized losses on hedging instruments
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(33)
Other comprehensive income/(loss) before reclassifications	0
Amounts reclassified from accumulated other comprehensive income/(loss)	5
Other Comprehensive Income, Other, Net of Tax	5
Ending Balance	(28)
Pension and other postretirement benefit liability adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(186)
Other comprehensive income/(loss) before reclassifications	2
Amounts reclassified from accumulated other comprehensive income/(loss)	(2)
Other Comprehensive Income, Other, Net of Tax	0
Ending Balance	(186)
Accumulated Other Comprehensive Items
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(3,099)
Other comprehensive income/(loss) before reclassifications	59
Amounts reclassified from accumulated other comprehensive income/(loss)	13
Other Comprehensive Income, Other, Net of Tax	72
Ending Balance	$ (3,027)

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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Dec. 31, 2022
Liabilities [Abstract]
Gain (loss) on sale of investments	$ 11	$ (13)	$ (33)	$ (136)
Fair Value, Recurring
Assets [Abstract]
Cash equivalents	2,662		2,662		$ 5,804
Bank time deposits	6		6
Investments	19		19		25
Warrants	11		11		12
Insurance contracts	193		193		162
Derivative contracts	88		88		79
Total Assets	2,979		2,979		6,082
Liabilities [Abstract]
Derivative contracts	153		153		101
Contingent consideration	81		81		174
Total Liabilities	234		234		275
Fair Value, Recurring | Quoted Prices in Active Markets (Level I)
Assets [Abstract]
Cash equivalents	2,662		2,662		5,804
Bank time deposits	6		6
Investments	19		19		25
Warrants	0		0		0
Insurance contracts	0		0		0
Derivative contracts	0		0		0
Total Assets	2,687		2,687		5,829
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
Bank time deposits	0		0
Investments	0		0		0
Warrants	11		11		12
Insurance contracts	193		193		162
Derivative contracts	88		88		79
Total Assets	292		292		253
Liabilities [Abstract]
Derivative contracts	153		153		101
Contingent consideration	0		0		0
Total Liabilities	153		153		101
Fair Value, Recurring | Significant Unobservable Inputs (Level 3)
Assets [Abstract]
Cash equivalents	0		0		0
Bank time deposits	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	81		81		174
Total Liabilities	$ 81		$ 81		$ 174

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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 90	$ 216	$ 174	$ 317
Acquisitions (including assumed balances)	0	0	1	(18)
Payments	(5)	(32)	(63)	(64)
Changes in fair value included in earnings	(4)	(16)	(31)	(67)
Ending balance	$ 81	$ 168	$ 81	$ 168
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

Fair Value Measurements and F_5

Fair Value Measurements and Fair Value of Financial Instruments - Derivative Assets & Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Cross-currency interest rate swaps | Derivatives Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value – assets	$ 87	$ 77
Fair value – liabilities	152	85
Cross-currency interest rate swaps | Financial instruments designated as net investment hedges
Derivatives, Fair Value [Line Items]
Notional amount	5,650	2,100
Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	1,607	2,434
Currency exchange contracts | Derivatives Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value – assets	1	2
Fair value – liabilities	1	16
Fair Value, Recurring
Derivatives, Fair Value [Line Items]
Fair value – assets	88	79
Fair value – liabilities	$ 153	$ 101

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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
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	$ 2	$ 3	$ (1)	$ 15
Currency exchange contracts | Included in other income/(expense) | Derivatives Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative	(6)	20	(8)	32
Derivatives designated as cash flow hedges | Interest rate swaps | Amount reclassified from accumulated other comprehensive items to interest expense | Derivatives Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on cash flow hedge reclassified from AOCI	(1)	(1)	(6)	(3)
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	364	658	158	1,691
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 currency translation adjustment	(56)	46	(6)	120
Gain (loss) on derivative	$ 35	$ 6	$ 68	$ 12

Fair Value Measurements and F_7

Fair Value Measurements and Fair Value of Financial Instruments - Fair Value of Other Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	$ 35,084	$ 34,278
Fair value	30,776	30,290
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	35,008	33,889
Fair value	30,700	29,901
Commercial Paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	0	310
Fair value	0	310
Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value	76	79
Fair value	$ 76	$ 79

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Non-cash Investing and Financing Activities [Abstract]
Acquired but unpaid property, plant and equipment	$ 207	$ 213
Declared but unpaid dividends	137	119
Issuance of stock upon vesting of restricted stock units	198	225
Excise tax from stock repurchases	29	0
Cash and cash equivalents	6,151		$ 8,524
Restricted cash included in other current assets	10		12
Restricted cash included in other assets	7		1
Cash, cash equivalents and restricted cash	$ 6,168	$ 2,934	$ 8,537	$ 4,491
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
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Nov. 03, 2023
Restructuring Cost and Reserve [Line Items]
Workforce reduction			4%
Restructuring and other costs	$ 84	$ 33	$ 379	$ 59
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	5		11
Life Sciences Solutions | Total Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	20		100
Analytical Instruments | Total Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	8		31
Specialty Diagnostics | Total Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	(1)		9
Laboratory Products and Biopharma Services | Total Reportable Segments
Restructuring Cost and Reserve [Line Items]
Restructuring and other costs	$ 52		$ 228
Forecast
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges					$ 65

Restructuring and Other Costs -

Restructuring and Other Costs - Reserves (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Beginning balance		$ 41
Net restructuring charges incurred in 2022		175
Payments		(142)
Currency translation		(1)
Ending balance	$ 73	73
Non-cash charges		165
Impairment of long-lived assets		127
Contract termination costs		26
Pre-acquisition litigation charges		$ 18
Impairment of disposal group	39
Attributable to noncontrolling interest	$ 19