v3.26.1
Segment Information
 6 Months Ended
Jun. 26, 2026
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company operates and reports its results in three separate business segments consisting of the Biotechnology, Life Sciences and Diagnostics segments. Operating profit represents total revenues less operating expenses, excluding nonoperating income and expense, interest and income taxes. The identifiable assets by segment are those used in each segment’s operations. Intersegment amounts are not significant and are eliminated to arrive at consolidated totals.
The chief operating decision maker (“CODM”) uses segment sales and operating profit to allocate resources (including employees and financial or capital resources), predominantly through the annual budget process, to evaluate and assess the performance of the segments and to evaluate the performance of certain employees for the determination of compensation. The CODM reviews forecast-to-actual variances in segment sales and operating profit on a monthly basis when making decisions about allocating capital and personnel to the segments.
The table below reconciles segment sales to segment operating profit with the expense categories presented reflecting the expenses that the Company has determined to be significant segment expenses. Significant segment expenses are the expense category details regularly provided to the CODM to allocate resources to the segments and to evaluate segment performance. Detailed segment data for the three and six-month periods ended June 26, 2026 and June 27, 2025 is as follows ($ in millions):
BiotechnologyLife SciencesDiagnosticsTotal Reportable Segments
Other(a)
Total
For the Three-Month Period Ended June 26, 2026:
Sales$1,920 $1,879 $2,466 $6,265 $— $6,265 
Less:
Depreciation(40)(48)(107)(195)(1)(196)
Amortization of intangible assets(231)(151)(81)(463)— (463)
Other segment items(c)
(1,093)(1,436)(1,862)(4,391)(88)(4,479)
Operating profit$556 $244 $416 $1,216 $(89)$1,127 
For the Three-Month Period Ended June 27, 2025:
Sales$1,850 $1,777 $2,309 $5,936 $— $5,936 
Less:
Depreciation(38)(45)(100)(183)(2)(185)
Amortization of intangible assets(228)(150)(48)(426)— (426)
Impairments(b)
— (432)— (432)— (432)
Other segment items(c)
(1,053)(1,389)(1,607)(4,049)(84)(4,133)
Operating profit (loss)$531 $(239)$554 $846 $(86)$760 
BiotechnologyLife SciencesDiagnosticsTotal Reportable Segments
Other(a)
Total
For the Six-Month Period Ended June 26, 2026:
Sales$3,717 $3,616 $4,883 $12,216 $— $12,216 
Less:
Depreciation(80)(96)(209)(385)(4)(389)
Amortization of intangible assets(465)(303)(129)(897)— (897)
Other segment items(c)
(2,082)(2,748)(3,455)(8,285)(174)(8,459)
Operating profit$1,090 $469 $1,090 $2,649 $(178)$2,471 
For the Six-Month Period Ended June 27, 2025:
Sales$3,462 $3,457 $4,758 $11,677 $— $11,677 
Less:
Depreciation(72)(90)(200)(362)(4)(366)
Amortization of intangible assets(441)(299)(96)(836)— (836)
Impairments(b)
(15)(432)— (447)— (447)
Other segment items(c)
(1,962)(2,674)(3,190)(7,826)(168)(7,994)
Operating profit (loss)$972 $(38)$1,272 $2,206 $(172)$2,034 
(a) Other consists of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance.
(b) For information on the impairments, refer to Note 8.
(c) Other segment items for each reportable segment include cost of sales, selling, general and administrative (“SG&A”) expenses and research and development (“R&D”) expenses, excluding in each case depreciation, amortization of intangible assets and impairments. Included within these categories of expenses are overhead expenses, stock compensation expense, restructuring charges and allocated corporate expenses.
The following table presents identifiable assets as of June 26, 2026 and December 31, 2025 ($ in millions):
June 26, 2026December 31, 2025
Biotechnology$36,009 $37,337 
Life Sciences22,593 23,112 
Diagnostics25,731 14,748 
Other8,034 8,267 
Total$92,367 $83,464 
The following table presents capital expenditures, gross for the three and six-month periods ended June 26, 2026 and June 27, 2025 ($ in millions):
Three-Month Period EndedSix-Month Period Ended
June 26, 2026June 27, 2025June 26, 2026June 27, 2025
Biotechnology$66 $80 $130 $161 
Life Sciences38 41 65 89 
Diagnostics164 125 308 240 
Other1 2 3 3 
Total$269 $248 $506 $493