v3.25.4

OTHER EXPENSE, NET | 12 Months Ended
--- | ---
Dec. 31, 2025
Other Income and Expenses [Abstract] |
OTHER EXPENSE, NET | OTHER EXPENSE, NET Other expense, net for the years 2025, 2024 and 2023 consist of:
(in millions) |  | 2025 |  | 2024 |  | 2023
Asset impairments |  | $ | — |  |  | $ | 5 |  |  | $ | — |
Restructuring, integration and separation costs |  | 58 |  |  | 26 |  |  | 44 |
Gain on sale of assets |  | (6) |  |  | (5) |  |  | — |
Litigation and other matters |  | 10 |  |  | 5 |  |  | 3 |
Acquired in-process research and development costs |  | 33 |  |  | 18 |  |  | — |
Acquisition-related costs |  | 7 |  |  | 4 |  |  | 25 |
Acquisition-related contingent consideration |  | (27) |  |  | (9) |  |  | 2 |
Other expense, net |  | $ | 75 |  |  | $ | 44 |  |  | $ | 74 |
The Company evaluates opportunities to improve its operating results and implements cost savings programs to streamline its operations and eliminate redundant processes and expenses. Restructuring and integration costs are expenses associated with the implementation of these cost savings programs and include expenses associated with reducing headcount and other cost reduction initiatives. Restructuring, integration and separation costs for the years 2025, 2024 and 2023 were $58 million, $26 million and $44 million, respectively, and primarily consist of employee severance costs. These severance costs were provided under an ongoing benefit arrangement and were therefore recorded once they were both probable and reasonably estimable in accordance with the provisions of ASC 712-10, “Nonretirement Postemployment Benefits”. Acquired in-process research and development costs in 2025 primarily relates to the acquisition of Whitecap Biosciences, as discussed in Note 4, “ACQUISITIONS AND LICENSING AGREEMENTS”. Acquisition-related contingent consideration in 2025 primarily reflects changes in: (i) the timing of regulatory approval of certain pipeline products and (ii) the estimated amount and timing of projected cash flows of certain products.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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