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Other (Income)/Deductions—Net - Schedule of Other (Income)/Deductions—Net (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
Jun. 30, 2024
Jul. 02, 2023
Other Income and Expenses [Abstract]        
Interest income $ (130) $ (316) $ (259) $ (493)
Interest expense 778 508 1,568 826
Net interest expense [1] 648 192 1,310 333
Net (gains) losses recognized during the period on equity securities [2] 342 (135) 317 316
Income from collaborations, out-licensing arrangements and sales of compound/product rights (22) (7) (24) (74)
Net periodic benefit costs/(credits) other than service costs (106) (88) (209) (168)
Certain legal matters, net [3] 169 139 377 175
Certain asset impairments [4] 240 0 349 264
Haleon equity method (income)/loss [5] (40) (156) 48 (224)
Other, net [6] (124) (20) (381) (423)
Other (income)/deductions––net $ 1,107 $ (75) $ 1,787 $ 200
[1] The increase in net interest expense in the second quarter and first six months of 2024 reflects (i) higher interest expense driven by our $31 billion aggregate principal amount of senior unsecured notes issued in May 2023, as well as $8 billion of commercial paper issued in the fourth quarter of 2023 as part of the financing for our acquisition of Seagen and (ii) a decrease in interest income due to lower investment balances after completion of our $43.4 billion Seagen acquisition in December 2023.
[2] Reported in Other (income)/deductions––net. See Note 4.
[3] The second quarter and first six months of 2024 primarily include certain product liability expenses related to products discontinued and/or divested by Pfizer. The second quarter and first six months of 2023 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer.
[4] The second quarter and first six months of 2024 include a $240 million intangible asset impairment charge, associated with our Biopharma segment that represents IPR&D related to a Phase 3 study for the treatment of DMD, which reflects unfavorable clinical trial results. The first six months of 2023 primarily represented intangible asset impairment charges, including (i) $128 million associated with Other business activities, related to IPR&D and developed technology rights for acquired software assets and reflected unfavorable pivotal trial results and updated commercial forecasts, and (ii) $120 million associated with our Biopharma segment resulting from the discontinuation of a study related to an out-licensed IPR&D asset for the treatment of prostate cancer.
[5] See Note 2B.
[6] The second quarter of 2024 primarily includes, among other things, dividend income of $74 million from our investment in ViiV. The first six months of 2024 includes, among other things, a $150 million gain on the partial sale of our investment in Haleon and dividend income of $135 million from our investment in ViiV. The first six months of 2023 primarily included, among other things, dividend income of $211 million from our investment in Nimbus resulting from Takeda’s acquisition of Nimbus’s oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor program subsidiary, and $183 million from our investment in ViiV.