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Segment and other information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following table provides segment revenues, significant segment expenses, other segment items, reported segment net income and a reconciliation of segment net income to the Company’s total consolidated net income for the years ended December 31, 2024, 2023 and 2022 (in millions):
|  | Years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |  |
Product sales |  | $ | 32,026 |  |  | $ | 26,910 |  |  | $ | 24,801 |
Other revenues |  | 1,398 |  |  | 1,280 |  |  | 1,522 |
Total revenues |  | 33,424 |  |  | 28,190 |  |  | 26,323 |
Less: |  |  |  |  |  |
Manufacturing cost of sales(1)(2) |  | 11,118 |  |  | 7,347 |  |  | 5,776 |
Profit share and royalties in cost of sales(1) |  | 1,740 |  |  | 1,104 |  |  | 630 |
Research and development(1) |  | 5,964 |  |  | 4,784 |  |  | 4,434 |
Sales and marketing(1) |  | 4,713 |  |  | 3,784 |  |  | 3,736 |
General and administrative(1) |  | 2,383 |  |  | 2,395 |  |  | 1,678 |
Other segment items(3) |  | 262 |  |  | (743) |  |  | 777 |
Equity in (income) loss of equity method investments |  | (10) |  |  | 14 |  |  | 667 |
Interest income |  | (510) |  |  | (1,225) |  |  | (127) |
Interest expense, net |  | 3,155 |  |  | 2,875 |  |  | 1,406 |
Provision for income taxes |  | 519 |  |  | 1,138 |  |  | 794 |
Segment net income |  | 4,090 |  |  | 6,717 |  |  | 6,552 |
Reconciliation of profit or loss: |  |  |  |  |  |
Adjustments and reconciling items |  | — |  |  | — |  |  | — |
Consolidated net income |  | $ | 4,090 |  |  | $ | 6,717 |  |  | $ | 6,552 |
____________ (1) During the years ended December 31, 2024, 2023 and 2022, we recognized amortization expense on our intangible assets of $4.8 billion, $3.2 billion and $2.6 billion, respectively. Amortization of intangible assets is included primarily in Cost of sales in the Consolidated Statements of Income. In addition, during the years ended December 31, 2024, 2023 and 2022, we recognized depreciation and ROU asset amortization expense of $805 million, $824 million and $818 million, respectively. (2) During the years ended December 31, 2024, 2023 and 2022, manufacturing cost of sales included amortization of step-up to fair value of inventory acquired in business combinations of $2.4 billion, $656 million and $30 million, respectively. (3) Other segment items included in Segment net income primarily consists of: (i) fair value adjustments on equity securities (see Note 10, Investments) and (ii) net impairment charges on intangible assets (see Note 13, Goodwill and other intangible assets). For the year ended December 31, 2023, other segment items also included expenses related to our restructuring plan that was both initiated and substantially completed in 2023. For the year ended December 31, 2022, other segment items also included a loss on the divestiture of Gensenta (see Note 4, Acquisitions and divestitures).

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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