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Intangible assets and goodwill | 12 Months Ended
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Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible assets and goodwill | Intangible assets and goodwill At the end of fiscal years 2024 and 2023, the gross and net amounts of intangible assets were:
(Dollars in Millions) |  | 2024 |  | 2023
Intangible assets with definite lives: |  |  |  |
Patents and trademarks — gross(1) |  | $44,695 |  | 40,417
Less accumulated amortization |  | (26,124) |  | (24,808)
Patents and trademarks — net |  | $18,571 |  | 15,609
Customer relationships and other intangibles — gross |  | $20,310 |  | 20,322
Less accumulated amortization |  | (13,544) |  | (12,685)
Customer relationships and other intangibles — net(2) |  | $6,766 |  | 7,637
Intangible assets with indefinite lives: |  |  |  |
Trademarks(1) |  | — |  |  | 1,714
Purchased in-process research and development |  | 12,281 |  | 9,215
Total intangible assets with indefinite lives |  | $12,281 |  | 10,929
Total intangible assets — net |  | $37,618 |  | 34,175
(1)In September 2024, the Company announced changes to its MedTech brand identity and the $1.7 billion of trademarks associated with the DePuy Synthes business were reclassified from indefinite lived to definite lived and will be amortized over a 25 year period. (2)The majority is comprised of customer relationships Goodwill as of December 29, 2024 and December 31, 2023, as allocated by segment of business, was as follows:
(Dollars in Millions) |  |  | Innovative Medicine |  | MedTech |  | Total
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
Goodwill, related to acquisitions |  |  | 640 |  | 7,569 |  | 8,209
Goodwill, related to divestitures |  |  | — |  | (56) |  | (56)
Currency translation/other |  |  | (355) |  | (156) |  | (511)
Goodwill at December 29, 2024 |  |  | $10,692 |  | 33,508 |  | 44,200
* Includes purchase price allocation adjustments for Abiomed 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 assets included in Cost of products sold was $4.5 billion, $4.5 billion and $3.9 billion before tax, for the fiscal years ended December 29, 2024, December 31, 2023 and January 1, 2023, 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) |  |  |  |  |  |
2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
$4,000 |  | 3,400 |  | 2,800 |  | 2,200 |  | 2,200
See Note 18 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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