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Intangible assets and goodwill | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible assets and goodwill | Intangible assets and goodwill At the end of fiscal years 2023 and 2022, the gross and net amounts of intangible assets were:
(Dollars in Millions) |  | 2023 |  | 2022
Intangible assets with definite lives: |  |  |  |
Patents and trademarks — gross |  | $40,417 |  | 39,388
Less accumulated amortization |  | (24,808) |  | (20,616)
Patents and trademarks — net |  | $15,609 |  | 18,772
Customer relationships and other intangibles — gross |  | $20,322 |  | 19,764
Less accumulated amortization |  | (12,685) |  | (11,363)
Customer relationships and other intangibles — net(1) |  | $7,637 |  | 8,401
Intangible assets with indefinite lives: |  |  |  |
Trademarks |  | $1,714 |  | 1,630
Purchased in-process research and development |  | 9,215 |  | 9,686
Total intangible assets with indefinite lives |  | $10,929 |  | 11,316
Total intangible assets — net |  | $34,175 |  | 38,489
(1)The majority is comprised of customer relationships Goodwill as of December 31, 2023 and January 1, 2023, as allocated by segment of business, was as follows:
(Dollars in Millions) |  |  | Innovative Medicine |  | MedTech |  | Total
Goodwill at January 2, 2022 |  |  | $10,580 |  | 14,856 |  | 25,436
Goodwill, related to acquisitions |  |  | — |  | 11,056 |  | 11,056
Goodwill, related to divestitures |  |  | — |  | — |  | —
Currency translation/other |  |  | (396) |  | (49) |  | (445)
Goodwill at January 1, 2023 |  |  | 10,184 |  | 25,863 |  | 36,047
Goodwill, related to acquisitions |  |  | — |  | — |  | —
Goodwill, related to divestitures |  |  | — |  | — |  | —
Currency translation/other |  |  | 223 |  | 288 | * | 511
Goodwill at December 31, 2023 |  |  | $10,407 |  | 26,151 |  | 36,558
*Includes purchase price allocation adjustments for Abiomed The weighted average amortization period for patents and trademarks is approximately 11 years. The weighted average amortization period for customer relationships and other intangible assets is approximately 19 years. The amortization expense of amortizable assets included in Cost of products sold was $4.5 billion, $3.9 billion and $4.2 billion before tax, for the fiscal years ended December 31, 2023, January 1, 2023 and January 2, 2022, respectively. Intangible asset write-downs are included in Other (income) expense, net. The estimated amortization expense related to intangible assets for approved products, before tax, for the five succeeding years is approximately:
(Dollars in Millions) |  |  |  |  |  |
2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
$4,300 |  | 3,500 |  | 2,900 |  | 2,300 |  | 1,600
See Note 18 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.

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