v3.25.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible AssetsGoodwill
The following table summarizes the changes in the carrying amount of goodwill:
(in millions)
Balance as of December 31, 2024$34,956 
Additions(a)
170 
Foreign currency translation adjustments159 
Balance as of March 31, 2025$35,285 
(a) Goodwill additions related to the acquisition of Nimble (see Note 4).
The company performs its annual goodwill impairment assessment in the third quarter, or earlier if impairment indicators exist. As of March 31, 2025, there were no accumulated goodwill impairment losses.
Intangible Assets, Net
The following table summarizes intangible assets:
March 31, 2025December 31, 2024
(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$81,638 $(29,981)$51,657 $81,428 $(28,253)$53,175 
License agreements8,352 (6,811)1,541 8,315 (6,624)1,691 
Total definite-lived intangible assets89,990 (36,792)53,198 89,743 (34,877)54,866 
Indefinite-lived intangible assets5,291 — 5,291 5,202 — 5,202 
Total intangible assets, net$95,281 $(36,792)$58,489 $94,945 $(34,877)$60,068 
Definite-Lived Intangible Assets
Amortization expense was $1.9 billion for the three months ended March 31, 2025 and 2024. Amortization expense was included in cost of products sold in the condensed consolidated statements of earnings.
Indefinite-Lived Intangible Assets
Indefinite-lived intangible assets represent acquired IPR&D associated with products that have not yet received regulatory approval. The company performs its annual impairment assessment of indefinite-lived intangible assets in the third quarter, or earlier if impairment indicators exist.