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Intangible assets and goodwill (Tables) | 12 Months Ended
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Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of 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 | 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
Intangible Asset Amortization Expense | 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

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