Goodwill and Intangible Assets (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Summary of changes in the carrying amount of goodwill |
The following table summarizes the changes in the carrying amount of goodwill: | | | | | | | (in millions) | | | Balance as of December 31, 2022 | $ | 32,156 | | | | | | | Foreign currency translation adjustments and other | 137 | | | Balance as of December 31, 2023 | 32,293 | | Additions(a) | 2,951 | | | Foreign currency translation adjustments and other | (288) | | | Balance as of December 31, 2024 | $ | 34,956 | |
(a)Goodwill additions related to the acquisitions of ImmunoGen and Cerevel Therapeutics (see Note 5).
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| Schedule of definite-lived intangible assets |
The following table summarizes intangible assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | as of December 31 (in millions) | Gross
carrying
amount | | Accumulated
amortization | | Net
carrying
amount | | Gross
carrying
amount | | Accumulated
amortization | | Net
carrying
amount | | Definite-lived intangible assets | | | | | | | | | | | | | Developed product rights | $ | 81,428 | | | $ | (28,253) | | | $ | 53,175 | | | $ | 75,142 | | | $ | (22,455) | | | $ | 52,687 | | | License agreements | 8,315 | | | (6,624) | | | 1,691 | | | 8,191 | | | (5,571) | | | 2,620 | | | Total definite-lived intangible assets | 89,743 | | | (34,877) | | | 54,866 | | | 83,333 | | | (28,026) | | | 55,307 | | | Indefinite-lived intangible assets | 5,202 | | | — | | | 5,202 | | | 303 | | | — | | | 303 | | | Total intangible assets, net | $ | 94,945 | | | $ | (34,877) | | | $ | 60,068 | | | $ | 83,636 | | | $ | (28,026) | | | $ | 55,610 | |
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| Schedule of indefinite-lived intangible assets |
The following table summarizes intangible assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | as of December 31 (in millions) | Gross
carrying
amount | | Accumulated
amortization | | Net
carrying
amount | | Gross
carrying
amount | | Accumulated
amortization | | Net
carrying
amount | | Definite-lived intangible assets | | | | | | | | | | | | | Developed product rights | $ | 81,428 | | | $ | (28,253) | | | $ | 53,175 | | | $ | 75,142 | | | $ | (22,455) | | | $ | 52,687 | | | License agreements | 8,315 | | | (6,624) | | | 1,691 | | | 8,191 | | | (5,571) | | | 2,620 | | | Total definite-lived intangible assets | 89,743 | | | (34,877) | | | 54,866 | | | 83,333 | | | (28,026) | | | 55,307 | | | Indefinite-lived intangible assets | 5,202 | | | — | | | 5,202 | | | 303 | | | — | | | 303 | | | Total intangible assets, net | $ | 94,945 | | | $ | (34,877) | | | $ | 60,068 | | | $ | 83,636 | | | $ | (28,026) | | | $ | 55,610 | |
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| Schedule of anticipated annual amortization expense |
The anticipated annual amortization expense for definite-lived intangible assets recorded as of December 31, 2024 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in billions) | 2025 | | 2026 | | 2027 | | 2028 | | 2029 | | Anticipated annual amortization expense | $ | 7.3 | | | $ | 6.7 | | | $ | 6.1 | | | $ | 6.3 | | | $ | 5.7 | |
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