XML 31 R12.htm IDEA: XBRL DOCUMENT
v3.21.1

Intangible Assets and Goodwill | 3 Months Ended
--- | ---
Apr. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | INTANGIBLE ASSETS AND GOODWILL Intangible assets that have finite useful lives are amortized over their estimated useful lives. The latest annual impairment assessment of goodwill and indefinite lived intangible assets was completed in the fiscal fourth quarter of 2020. Future impairment tests for goodwill and indefinite lived intangible assets will be performed annually in the fiscal fourth quarter, or sooner, if warranted.
(Dollars in Millions) |  | April 4, 2021 |  | January 3, 2021
Intangible assets with definite lives: |  |  |  |
Patents and trademarks — gross |  | $ | 39,505 |  |  | 39,990 |
Less accumulated amortization |  | 18,006 |  |  | 17,618 |
Patents and trademarks — net |  | 21,499 |  |  | 22,372 |
Customer relationships and other intangibles — gross |  | 22,793 |  |  | 22,898 |
Less accumulated amortization |  | 11,031 |  |  | 10,912 |
Customer relationships and other intangibles — net* |  | 11,762 |  |  | 11,986 |
Intangible assets with indefinite lives: |  |  |  |
Trademarks |  | 7,061 |  |  | 7,195 |
Purchased in-process research and development |  | 10,788 |  |  | 11,849 |
Total intangible assets with indefinite lives |  | 17,849 |  |  | 19,044 |
Total intangible assets — net |  | $ | 51,110 |  |  | 53,402 |
*The majority is comprised of customer relationships Goodwill as of April 4, 2021 was allocated by segment of business as follows:
(Dollars in Millions) |  | Consumer Health |  | Pharmaceutical |  | Medical Devices |  | Total
Goodwill at January 3, 2021 |  | $ | 10,336 |  |  | 11,009 |  |  | 15,048 |  |  | 36,393 |
Goodwill, related to acquisitions and divestitures |  | — |  |  | — |  |  | — |  |  | — |
Currency translation/Other |  | (310) |  |  | (262) |  |  | (133) |  |  | (705) |
Goodwill at April 4, 2021 |  | $ | 10,026 |  |  | 10,747 |  |  | 14,915 |  |  | 35,688 |
The weighted average amortization period for patents and trademarks is 12 years. The weighted average amortization period for customer relationships and other intangible assets is 21 years. The amortization expense of amortizable intangible assets included in cost of products sold was $1.2 billion and $1.1 billion for the fiscal first quarters ended April 4, 2021 and March 29, 2020, respectively. Intangible asset write-downs are included in Other (income) expense, net. The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately:
(Dollars in Millions) |  |  |  |  |  |
2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025
$4,600 |  | 4,400 |  | 4,300 |  | 4,100 |  | 3,300
See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration