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Other (Income)/Deductions—Net - Schedule of Other (Income)/Deductions—Net (Detail) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 28, 2025
Sep. 29, 2024
Sep. 28, 2025
Sep. 29, 2024
Other Income and Expenses [Abstract]        
Interest income $ (138) $ (116) $ (437) $ (374)
Interest expense 652 783 1,960 2,352
Net interest expense [1] 514 668 1,523 1,977
Net (gains) losses recognized during the period on equity securities [2] (201) (446) 94 [3] (129) [3]
Net periodic benefit costs/(credits) other than service costs (73) (102) (333) (311)
Certain legal matters, net [4] 191 45 755 422
Certain asset impairments [5] 260 0 577 349
Haleon equity method (income)/loss 0 (150) 0 (102)
Other, net [6] (174) 227 (406) (177)
Other (income)/deductions––net $ 517 $ 243 $ 2,210 $ 2,030
[1] The decrease in net interest expense in the third quarter and first nine months of 2025 reflects (i) a decrease in interest expense primarily driven by a reduction in commercial paper outstanding and (ii) an increase in interest income due to a higher total average investment asset balance compared to 2024.
[2] Reported in Other (income)/deductions––net. See Note 4.
[3] The net losses in the first nine months of 2025 include, among other things, a net loss of $144 million related to our previous investment in Haleon, composed of unrealized losses of $1.0 billion, partially offset by $900 million in realized gains on the sales of our remaining investment in the first quarter of 2025.
[4] The third quarter of 2025 primarily includes certain product liability expenses. The first nine months of 2025 primarily include certain product liability and other legal expenses. The third quarter and first nine months of 2024 primarily included certain product liability expenses related to products discontinued and/or divested by Pfizer.
[5] The third quarter and first nine months of 2025 include an intangible asset impairment charge associated with our Biopharma segment of $260 million related to IPR&D associated with a Phase 3 study for inclacumab for the treatment of SCD, which reflects unfavorable clinical trial results. The first nine months of 2025 also include an intangible asset impairment charge of $210 million associated with our Biopharma segment for KRAS G12D, a Phase 2 indefinite-lived out-licensed asset that was discontinued by our out-licensing partner. The first nine months of 2024 included a $240 million intangible asset impairment charge, associated with our Biopharma segment that represented IPR&D related to a Phase 3 study for the treatment of DMD, which reflected unfavorable clinical trial results.
[6] The first nine months of 2025 include, among other things, dividend income of $184 million from our investment in ViiV. The third quarter and first nine months of 2024 primarily included, among other things, a charge of $420 million related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program. The first nine months of 2024 also included, among other things, dividend income of $183 million from our investment in ViiV and a $150 million realized gain on the partial sale of our previous investment in Haleon in the first quarter of 2024.