Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Thermo Fisher Scientific Inc., adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	24,589)	25,229)	20,113)	21,957)	11,893)
Adjustments
Add: Allowances	193)	189)	150)	135)	102)
Add: LIFO reserve¹	—)	—)	—)	49)	39)
After Adjustment
Adjusted current assets	24,782)	25,418)	20,263)	22,141)	12,034)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ LIFO reserve. See details »

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Thermo Fisher Scientific Inc., adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	98,726)	97,154)	95,123)	69,052)	58,381)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowances	193)	189)	150)	135)	102)
Add: LIFO reserve²	—)	—)	—)	49)	39)
Less: Deferred tax assets³	831)	865)	1,008)	689)	573)
After Adjustment
Adjusted total assets	98,088)	96,478)	94,265)	68,547)	57,949)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² LIFO reserve. See details »

³ Deferred tax assets. See details »

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Thermo Fisher Scientific Inc., adjusted current liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current liabilities	14,012)	17,010)	13,436)	10,304)	6,197)
Adjustments
Less: Current accrued restructuring costs	60)	41)	17)	21)	34)
After Adjustment
Adjusted current liabilities	13,952)	16,969)	13,419)	10,283)	6,163)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Thermo Fisher Scientific Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	51,884)	53,006)	54,146)	34,535)	28,706)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	1,922)	2,849)	3,837)	1,794)	2,192)
Less: Accrued restructuring costs	60)	41)	17)	21)	34)
After Adjustment
Adjusted total liabilities	49,902)	50,116)	50,292)	32,720)	26,480)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Thermo Fisher Scientific Inc., adjusted total Thermo Fisher Scientific Inc. shareholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total Thermo Fisher Scientific Inc. shareholders’ equity	46,735)	43,978)	40,793)	34,507)	29,675)
Adjustments
Less: Deferred tax assets (liabilities), net¹	(1,091)	(1,984)	(2,829)	(1,105)	(1,619)
Add: Allowances	193)	189)	150)	135)	102)
Add: LIFO reserve²	—)	—)	—)	49)	39)
Add: Accrued restructuring costs	60)	41)	17)	21)	34)
Add: Redeemable noncontrolling interest	118)	116)	122)	—)	—)
Add: Noncontrolling interests	(11)	54)	62)	10)	—)
After Adjustment
Adjusted total equity	48,186)	46,362)	43,973)	35,827)	31,469)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred tax assets (liabilities), net. See details »

² LIFO reserve. See details »

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Thermo Fisher Scientific Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Short-term obligations and current maturities of long-term obligations	3,609)	5,579)	2,537)	2,628)	676)
Long-term obligations, excluding current maturities	31,308)	28,909)	32,333)	19,107)	17,076)
Total reported debt	34,917)	34,488)	34,870)	21,735)	17,752)
Total Thermo Fisher Scientific Inc. shareholders’ equity	46,735)	43,978)	40,793)	34,507)	29,675)
Total reported capital	81,652)	78,466)	75,663)	56,242)	47,427)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Operating lease liabilities, current (included in Other accrued expenses)²	263)	272)	266)	184)	167)
Add: Operating lease liabilities, noncurrent (included in Other long-term liabilities)³	1,244)	1,313)	1,203)	626)	571)
Adjusted total debt	36,424)	36,073)	36,339)	22,545)	18,490)
Adjustments to Equity
Less: Deferred tax assets (liabilities), net⁴	(1,091)	(1,984)	(2,829)	(1,105)	(1,619)
Add: Allowances	193)	189)	150)	135)	102)
Add: LIFO reserve⁵	—)	—)	—)	49)	39)
Add: Accrued restructuring costs	60)	41)	17)	21)	34)
Add: Redeemable noncontrolling interest	118)	116)	122)	—)	—)
Add: Noncontrolling interests	(11)	54)	62)	10)	—)
Adjusted total equity	48,186)	46,362)	43,973)	35,827)	31,469)
After Adjustment
Adjusted total capital	84,610)	82,435)	80,312)	58,372)	49,959)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities, current (included in Other accrued expenses). See details »

³ Operating lease liabilities, noncurrent (included in Other long-term liabilities). See details »

⁴ Deferred tax assets (liabilities), net. See details »

⁵ LIFO reserve. See details »

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Thermo Fisher Scientific Inc., adjusted net income attributable to Thermo Fisher Scientific Inc.

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income attributable to Thermo Fisher Scientific Inc.	5,995)	6,950)	7,725)	6,375)	3,696)
Adjustments
Add: Deferred income tax expense (benefit)¹	(1,300)	(997)	(645)	(269)	(499)
Add: Increase (decrease) in allowances	4)	39)	15)	33)	(15)
Add: Increase (decrease) in LIFO reserve²	—)	—)	(49)	10)	5)
Add: Increase (decrease) in accrued restructuring costs	19)	24)	(4)	(13)	(46)
Add: Other comprehensive income (loss)	(133)	(777)	478)	(128)	(180)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	(48)	3)	2)	2)	3)
After Adjustment
Adjusted net income	4,537)	5,242)	7,522)	6,010)	2,964)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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Thermo Fisher Scientific Inc. (NYSE:TMO)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income