THERMO FISHER SCIENTIFIC INC. (TMO) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that THERMO FISHER SCIENTIFIC INC. surfaced in its latest filing.

• In October 2025, the federal government entered a shutdown due to a lapse in appropriations, resulting from an inability by Congress to pass a budget or continuing resolution.October 2025
• The Inflation Reduction Act of 2022 contains drug price negotiation provisions that may reduce product demand.2022
• Pillar Two global minimum tax rate of 15% proposed by OECD.December 2021
• As of December 31, 2025, the company had approximately $39.38 billion in outstanding indebtedness and a $5.00 billion revolving credit facility.December 31, 2025
• In 2025, currency translation had a favorable effect of $0.37 billion on revenues due to weakening of the U.S. dollar.2025
• Goodwill of approximately $49.36 billion, indefinite-lived intangible assets of $1.23 billion, and definite-lived intangible assets of $14.60 billion as of December 31, 2025.December 31, 2025
• European Union GDPR and other privacy laws impose restrictions on personal data processing and cross-border transfers.
• The company is the sole manufacturer of a number of pharmaceuticals for many customers and is subject to FDA, DEA, and other regulatory inspections.
• Operations in countries with governmental corruption are subject to the U.S. Foreign Corrupt Practices Act and U.K. Bribery Act 2010.2010