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Segment and other information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Reconciliation of Segment Net Income (Loss) to Consolidated Net Income (Loss)

The following table provides segment revenues, significant segment expenses, other segment items, reported segment net income (loss) and a reconciliation of segment net income (loss) to the Company’s total consolidated net income (loss) for the three months ended March 31, 2025 and 2024 (in millions):

						Three months ended March 31,
						2025						2024
Revenues:
Product sales						$	7,873					$	7,118
Other revenues						276						329
Total revenues						8,149						7,447
Less:
Manufacturing cost of sales(1)(2)						2,528						2,814
Profit share and royalties in cost of sales(1)						440						386
Research and development(1)						1,486						1,343
Sales and marketing(1)						1,066						1,204
General and administrative(1)						621						604
Other segment items(3)						(573)						520
Equity in loss (income) of equity method investments						11						(27)
Interest income						(126)						(153)
Interest expense, net						723						824
Provision for income taxes						243						45
Segment net income (loss)						1,730						(113)
Reconciliation of profit or loss:
Adjustments and reconciling items						—						—
Consolidated net income (loss)						$	1,730					$	(113)

____________

(1)    During both the three months ended March 31, 2025 and 2024, amortization of our finite-lived intangible assets was $1.2 billion, which was primarily included in Cost of sales in the Condensed Consolidated Statements of Income (Loss). In addition, during the three months ended March 31, 2025 and 2024, we recognized depreciation and right-of-use asset amortization of $209 million and $201 million, respectively.

(2)    During the three months ended March 31, 2025 and 2024, manufacturing cost of sales included amortization of step-up to fair value of inventory acquired in business combinations of $363 million and $693 million, respectively.

(3)    Other segment items included in Segment net income (loss) primarily consisted of fair value adjustments on equity securities (see Note 6, Investments) and net impairment charges on intangible assets (see Note 8, Goodwill and other intangible assets).

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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

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- References

No definition available.

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