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Intangible Assets and Goodwill | 6 Months Ended
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Jun. 29, 2025
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 2024. 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) | June 29, 2025 |  | December 29, 2024
Intangible assets with definite lives: |  |  |
Patents and trademarks — gross | $53,272 |  | 44,695
Less accumulated amortization | (30,756) |  | (26,124)
Patents and trademarks — net | $22,516 |  | 18,571
Customer relationships and other intangibles — gross | 21,910 |  | 20,310
Less accumulated amortization | (14,487) |  | (13,544)
Customer relationships and other intangibles — net(1) | $7,423 |  | 6,766
Intangible assets with indefinite lives: |  |  |
Purchased in-process research and development | 19,896 |  | 12,281
Total intangible assets — net | $49,835 |  | 37,618
(1)The majority is comprised of customer relationships Goodwill as of June 29, 2025 was allocated by segment of business as follows:
(Dollars in Millions) |  |  | Innovative Medicine |  | MedTech |  | Total
Goodwill at December 29, 2024 |  |  | $10,692 |  | 33,508 |  | 44,200
Goodwill, related to acquisitions |  |  | 2,876 |  | — |  | 2,876
Goodwill, related to divestitures |  |  | — |  | (29) |  | (29)
Currency translation/Other |  |  | 758 |  | 312 |  | 1,070
Goodwill at June 29, 2025 |  |  | $14,326 |  | 33,791 |  | 48,117
The weighted average amortization period for patents and trademarks is approximately 13 years. The weighted average amortization period for customer relationships and other intangible assets is approximately 19 years. The amortization expense of amortizable intangible assets included in the cost of products sold was $1.3 billion and $1.1 billion for the fiscal second quarters ended June 29, 2025 and June 30, 2024, respectively. The amortization expense of amortizable intangible assets included in the cost of products sold was $2.4 billion and $2.2 billion for the fiscal six months ended June 29, 2025 and June 30, 2024, respectively. The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately:
(Dollars in Millions) |  |  |  |  |  |
2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
$4,500 |  | 4,000 |  | 3,400 |  | 2,700 |  | 2,600
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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