Business Segment and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2025

Business Segment Information

2025


(In millions)	Life Sciences Solutions		Analytical Instruments		Specialty Diagnostics		Laboratory Products and Biopharma Services		Total
Revenues
Revenues from external customers	$	8,781	$	7,353	$	4,604	$	23,818	$	44,556
Intersegment revenues	1,593		201		72		167		2,033
	10,374		7,554		4,676		23,984		46,589
Elimination of intersegment revenues									(2,033)
Consolidated revenues									$	44,556
Segment Income
Cost of revenues	3,929		3,850		2,718		18,609
Selling, general, and administrative expenses	1,912		1,244		708		2,392
Research and development expenses	553		573		178		56
Other segment items	213		151		(183)		(422)
Segment income	3,768		1,736		1,256		3,350		10,109
Unallocated amounts
Cost of revenues adjustments									(64)
Selling, general and administrative expenses adjustments									(207)
Restructuring and other costs									(362)
Amortization of acquisition-related intangible assets									(1,730)
Interest income									993
Interest expense									(1,419)
Other income/(expense)									(12)
Consolidated income before income taxes									$	7,308


(In millions)	Unallocated amounts		Life Sciences Solutions		Analytical Instruments		Specialty Diagnostics		Laboratory Products and Biopharma Services		Consolidated
Segment assets	$	95,919	$	3,446	$	3,170	$	1,323	$	6,485	$	110,343
Purchases of property, plant and equipment	116		152		124		128		1,005		1,525
Depreciation of property, plant and equipment	—		251		104		91		604		1,050

2024


(In millions)	Life Sciences Solutions		Analytical Instruments		Specialty Diagnostics		Laboratory Products and Biopharma Services		Total
Revenues
Revenues from external customers	$	8,160	$	7,267	$	4,449	$	23,002	$	42,879
Intersegment revenues	1,471		196		63		155		1,885
	9,631		7,463		4,512		23,157		44,764
Elimination of intersegment revenues									(1,885)
Consolidated revenues									$	42,879
Segment Income
Cost of revenues	3,560		3,532		2,605		18,020
Selling, general, and administrative expenses	1,797		1,250		732		2,356
Research and development expenses	551		551		176		66
Other segment items	221		174		(159)		(375)
Segment income	3,503		1,955		1,159		3,090		9,707
Unallocated amounts
Cost of revenues adjustments									(47)
Selling, general and administrative expenses adjustments									8
Restructuring and other costs									(379)
Amortization of acquisition-related intangible assets									(1,952)
Interest income									1,078
Interest expense									(1,390)
Other income/(expense)									12
Consolidated income before income taxes									$	7,037


(In millions)	Unallocated amounts		Life Sciences Solutions		Analytical Instruments		Specialty Diagnostics		Laboratory Products and Biopharma Services		Consolidated
Segment assets	$	84,031	$	2,982	$	2,944	$	1,218	$	6,145	$	97,321
Purchases of property, plant and equipment	85		123		95		125		971		1,400
Depreciation of property, plant and equipment	—		230		103		104		721		1,156

2023


(In millions)	Life Sciences Solutions		Analytical Instruments		Specialty Diagnostics		Laboratory Products and Biopharma Services		Total
Revenues
Revenues from external customers	$	8,545	$	7,101	$	4,324	$	22,888	$	42,857
Intersegment revenues	1,432		163		82		154		1,829
	9,977		7,263		4,405		23,041		44,686
Elimination of intersegment revenues									(1,829)
Consolidated revenues									$	42,857
Segment Income
Cost of revenues	4,078		3,467		2,584		17,978
Selling, general, and administrative expenses	1,766		1,244		716		2,276
Research and development expenses	558		528		156		68
Other segment items	155		116		(174)		(638)
Segment income	3,420		1,908		1,124		3,358		9,810
Unallocated amounts
Cost of revenues adjustments									(95)
Selling, general and administrative expenses adjustments									(59)
Restructuring and other costs									(459)
Amortization of acquisition-related intangible assets									(2,338)
Interest income									879
Interest expense									(1,375)
Other income/(expense)									(65)
Consolidated income before income taxes									$	6,298


(In millions)	Unallocated amounts		Life Sciences Solutions		Analytical Instruments		Specialty Diagnostics		Laboratory Products and Biopharma Services		Consolidated
Segment assets	$	85,314	$	3,186	$	2,726	$	1,150	$	6,350	$	98,726
Purchases of property, plant and equipment	80		178		87		121		1,013		1,479
Depreciation of property, plant and equipment	—		220		93		86		669		1,068

Geographical Information


(In millions)	2025		2024		2023
Revenues
United States	$	22,240	$	21,755	$	22,013

Other	22,316		21,124		20,844
Consolidated revenues	$	44,556	$	42,879	$	42,857

Long-lived Assets
United States	$	6,547	$	6,245	$	6,352
Other	5,465		4,550		4,652
Consolidated long-lived assets	$	12,012	$	10,795	$	11,004

THERMO FISHER SCIENTIFIC INC. 10-K