GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amounts in Goodwill were as follows:


	December 31,
Dollars in millions	2025		2024
Beginning balance	$	21,719	$	21,169
Acquisitions (Note 4)	—		580
Currency translation and other adjustments	36		(30)
Ending balance	$	21,754	$	21,719

Other Intangible Assets

Other intangible assets consisted of the following:


		December 31,
	Estimated Useful Lives	2025						2024
Dollars in millions		Gross carrying amounts		Accumulated amortization		Other intangible assets, net		Gross carrying amounts		Accumulated amortization		Other intangible assets, net
R&D technology	6 years	$	1,980	$	(605)	$	1,375	$	1,980	$	(275)	$	1,705
Acquired marketed product rights	3 – 17 years	61,385		(51,646)		9,739		61,876		(48,659)		13,217
Capitalized software	3 – 10 years	1,453		(1,064)		389		1,499		(1,099)		400
IPRD		7,600		—		7,600		7,985		—		7,985
Total		$	72,418	$	(53,315)	$	19,103	$	73,340	$	(50,033)	$	23,307

In 2023, BMS agreed to pay $400 million to the former shareholders of Impact Biomedicines to extinguish all remaining contingent milestone obligations, which was recorded to Acquired marketed product rights for Inrebic in the amount of $511 million (after establishing the applicable deferred tax liability). The $400 million was paid in January 2024.

Amortization expense of Other intangible assets was $3.5 billion in 2025, $9.0 billion in 2024 and $9.2 billion in 2023. Future annual amortization expense of Other intangible assets is expected to be approximately $1.9 billion in 2026, $1.8 billion in 2027, $1.8 billion in 2028, $1.7 billion in 2029 and $1.3 billion in 2030.

Other intangible asset impairments were $949 million in 2025, $2.9 billion in 2024 and $136 million in 2023.

Other intangible asset impairments includes the following:

Acquired marketed product rights

In 2025, a $564 million impairment charge was recorded in Cost of products sold, representing a partial impairment of Augtyro. The impairment was a result of lower revised cash flow projections due to evolving commercial opportunities.

In 2024, $1.8 billion of impairment charges were recorded in Cost of products sold, representing partial impairments of Augtyro ($1.4 billion) and Inrebic ($280 million) as well as a full impairment of Abecma ($122 million). The impairments were a result of lower revised cash flow projections due to evolving commercial opportunities and competitive landscapes.

IPRD

In 2025, $385 million of IPRD impairment charges were recorded in Research and development expense. The charges reflect a full write-down of an oncology asset due to pipeline reprioritization and a partial write-down of a separate oncology asset resulting from revised cash flow projections.

In 2024, a $390 million IPRD impairment charge was recorded in Research and development expense following a decision to discontinue development of an investigational compound in connection with the prioritization of pipeline opportunities. The compound was being studied as a potential treatment for immunologic diseases and was acquired in the acquisition of Celgene. The IPRD impairment charge represented a full write-down of the asset.

Additionally, in 2024, a $590 million IPRD impairment charge for alnuctamab was recorded in Research and development expense in connection with portfolio prioritization. Alnuctamab was being studied as a potential treatment for hematologic diseases and was obtained in the acquisition of Celgene. The charge represented a full write-down of the asset.