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Intangible Assets and Goodwill | 9 Months Ended
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Sep. 29, 2024
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 2023. 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) | September 29, 2024 |  | December 31, 2023
Intangible assets with definite lives: |  |  |
Patents and trademarks — gross | $44,926 |  | 40,417
Less accumulated amortization | (26,699) |  | (24,808)
Patents and trademarks — net | 18,227 |  | 15,609
Customer relationships and other intangibles — gross | 20,715 |  | 20,322
Less accumulated amortization | (13,506) |  | (12,685)
Customer relationships and other intangibles — net(1) | 7,209 |  | 7,637
Intangible assets with indefinite lives: |  |  |
Trademarks | 1,704 |  | 1,714
Purchased in-process research and development | 12,350 |  | 9,215
Total intangible assets with indefinite lives | 14,054 |  | 10,929
Total intangible assets — net | $39,490 |  | 34,175
(1)The majority is comprised of customer relationships Goodwill as of September 29, 2024 was allocated by segment of business as follows:
(Dollars in Millions) |  |  | Innovative Medicine |  | MedTech |  | Total
Goodwill at December 31, 2023 |  |  | $10,407 |  | 26,151 |  | 36,558
Goodwill, related to acquisitions |  |  | 620 |  | 7,567 |  | 8,187
Goodwill, related to divestitures |  |  | — |  | (56) |  | (56)
Currency translation/Other |  |  | 85 |  | 25 |  | 110
Goodwill at September 29, 2024 |  |  | $11,112 |  | 33,687 |  | 44,799
The weighted average amortization period for patents and trademarks is approximately 12 years. The weighted average amortization period for customer relationships and other intangible assets is approximately 18 years. The amortization expense of amortizable intangible assets included in the cost of products sold was $1.2 billion and $1.1 billion for the fiscal third quarters ended September 29, 2024 and October 1, 2023, respectively. The amortization expense of amortizable intangible assets included in the cost of products sold was $3.4 billion for both the fiscal nine months ended September 29, 2024 and October 1, 2023, 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) |  |  |  |  |  |
2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
$4,500 |  | 3,900 |  | 3,300 |  | 2,700 |  | 2,000
See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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