Johnson & Johnson (JNJ) 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 04, 2021	Jul. 23, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 4, 2021
Document Transition Report	false
Entity File Number	1-3215
Entity Registrant Name	Johnson & Johnson
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1024240
Entity Address, Address Line One	One Johnson & Johnson Plaza
Entity Address, City or Town	New Brunswick
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08933
City Area Code	732
Local Phone Number	524-0400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,632,482,092
Entity Central Index Key	0000200406
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock, Par Value $1.00
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, Par Value $1.00
Trading Symbol	JNJ
Security Exchange Name	NYSE
0.250% Notes Due January 2022
Entity Information [Line Items]
Title of 12(b) Security	0.250% Notes Due January 2022
Trading Symbol	JNJ22
Security Exchange Name	NYSE
0.650% Notes Due May 2024
Entity Information [Line Items]
Title of 12(b) Security	0.650% Notes Due May 2024
Trading Symbol	JNJ24C
Security Exchange Name	NYSE
5.50% Notes Due November 2024
Entity Information [Line Items]
Title of 12(b) Security	5.50% Notes Due November 2024
Trading Symbol	JNJ24BP
Security Exchange Name	NYSE
1.150% Notes Due November 2028
Entity Information [Line Items]
Title of 12(b) Security	1.150% Notes Due November 2028
Trading Symbol	JNJ28
Security Exchange Name	NYSE
1.650% Notes Due May 2035
Entity Information [Line Items]
Title of 12(b) Security	1.650% Notes Due May 2035
Trading Symbol	JNJ35
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Current assets:
Cash and cash equivalents	$ 14,332	$ 13,985
Marketable securities	10,974	11,200
Accounts receivable, trade, less allowances for doubtful accounts and credit losses $234 (2020, $293)	14,871	13,576
Inventories (Note 2)	10,100	9,344
Prepaid expenses and other	3,492	3,132
Total current assets	53,769	51,237
Property, plant and equipment at cost	47,201	46,804
Less: accumulated depreciation	(28,569)	(28,038)
Property, plant and equipment, net	18,632	18,766
Intangible assets, net (Note 3)	50,244	53,402
Goodwill (Note 3)	35,819	36,393
Deferred taxes on income (Note 5)	10,804	8,534
Other assets	7,172	6,562
Total assets	176,440	174,894
Current liabilities:
Loans and notes payable	3,173	2,631
Accounts payable	8,704	9,505
Accrued liabilities	10,485	13,968
Accrued rebates, returns and promotions	12,450	11,513
Accrued compensation and employee related obligations	2,709	3,484
Accrued taxes on income (Note 5)	1,200	1,392
Total current liabilities	38,721	42,493
Long-term debt (Note 4)	30,310	32,635
Deferred taxes on income (Note 5)	9,016	7,214
Employee related obligations (Note 6)	10,367	10,771
Long-term taxes payable (Note 5)	5,722	6,559
Other liabilities	12,724	11,944
Total liabilities	106,860	111,616
Commitments and Contingencies (Note 11)
Shareholders’ equity:
Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares)	3,120	3,120
Accumulated other comprehensive income (loss) (Note 7)	(15,100)	(15,242)
Retained earnings	120,154	113,890
Less: common stock held in treasury, at cost (487,854,000 and 487,331,000 shares)	38,594	38,490
Total shareholders’ equity	69,580	63,278
Total liabilities and shareholders' equity	$ 176,440	$ 174,894

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Current assets:
Allowances for doubtful accounts	$ 234	$ 293
Shareholders' equity:
Common stock, par value per share	$ 1	$ 1
Common stock, shares authorized	4,320,000,000	4,320,000,000
Common stock, shares issued	3,119,843,000	3,119,843,000
Treasury stock, shares	487,854,000	487,331,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Income Statement [Abstract]
Sales to customers	$ 23,312	$ 18,336	$ 45,633	$ 39,027
Sales to customers percent to sales	100.00%	100.00%	100.00%	100.00%
Cost of products sold	$ 7,587	$ 6,579	$ 14,650	$ 13,641
Cost of products sold percent to sales	32.50%	35.90%	32.10%	35.00%
Gross profit	$ 15,725	$ 11,757	$ 30,983	$ 25,386
Gross Profit Percent To Sales	67.50%	64.10%	67.90%	65.00%
Selling, marketing and administrative expenses	$ 6,073	$ 4,993	$ 11,505	$ 10,196
Selling marketing and administrative expenses percent to sales	26.10%	27.20%	25.20%	26.10%
Research and development expense	$ 3,394	$ 2,707	$ 6,572	$ 5,287
Research and development expense percent to sales	14.60%	14.80%	14.40%	13.50%
In-process research and development	$ 0	$ 6	$ 0	$ 6
In-process research and development percent to sales	0.00%	0.00%	0.00%	0.00%
Interest income	$ (12)	$ (19)	$ (27)	$ (86)
Interest income percent to sales	(0.10%)	(0.10%)	0.00%	(0.20%)
Interest expense, net of portion capitalized	$ 40	$ 45	$ 103	$ 70
Interest expense, net of portion capitalized percent to sales	0.20%	0.30%	0.20%	0.20%
Other (income) expense, net	$ (488)	$ 24	$ (1,370)	$ (655)
Other (income) expense, net percent to sales	(2.10%)	0.10%	(3.00%)	(1.70%)
Restructuring (Note 12)	$ 56	$ 61	$ 109	$ 119
Restructuring charge percent to sales	0.20%	0.30%	0.20%	0.30%
Earnings before provision for taxes on income	$ 6,662	$ 3,940	$ 14,091	$ 10,449
Earnings before provision for taxes on income percent to sales	28.60%	21.50%	30.90%	26.80%
Provision for taxes on income (Note 5)	$ 384	$ 314	$ 1,616	$ 1,027
Provision for taxes on income percent to sales	1.70%	1.70%	3.60%	2.70%
Net earnings	$ 6,278	$ 3,626	$ 12,475	$ 9,422
Net earnings percent to sales	26.90%	19.80%	27.30%	24.10%
NET EARNINGS PER SHARE
Basic (per share)	$ 2.38	$ 1.38	$ 4.74	$ 3.58
Diluted (per share)	$ 2.35	$ 1.36	$ 4.67	$ 3.53
AVG. SHARES OUTSTANDING
Basic (shares)	2,632.5	2,632.9	2,632	2,633.3
Diluted (shares)	2,671.6	2,665.5	2,674	2,671

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 6,278	$ 3,626	$ 12,475	$ 9,422
Other comprehensive income (loss), net of tax
Foreign currency translation	(135)	556	141	(963)
Securities:
Unrealized holding gain (loss) arising during period	(1)	(2)	(1)	0
Reclassifications to earnings	0	0	0	0
Net change	(1)	(2)	(1)	0
Employee benefit plans:
Prior service cost amortization during period	(41)	(5)	(82)	(11)
Gain (loss) amortization during period	275	200	549	401
Net change	234	195	467	390
Derivatives & hedges:
Unrealized gain (loss) arising during period	400	21	(122)	853
Reclassifications to earnings	(270)	(60)	(343)	78
Net change	130	(39)	(465)	931
Other comprehensive income (loss)	228	710	142	358
Comprehensive income	$ 6,506	$ 4,336	$ 12,617	$ 9,780

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Statement of Comprehensive Income [Abstract]
Foreign Currency Translation	$ (90)	$ 114	$ 229	$ (68)
Employee Benefit Plans	66	55	132	111
Derivatives & Hedges	$ 33	$ (10)	$ (124)	$ 246

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Retained Earnings	Accumulated Other Comprehensive Income	Common Stock Issued Amount	Treasury Stock Amount
Beginning Balance at Dec. 29, 2019	$ 59,471	$ 110,659	$ (15,891)	$ 3,120	$ (38,417)
Net earnings	9,422	9,422
Cash dividends paid	(5,164)	(5,164)
Employee compensation and stock option plans	1,307	(1,020)			2,327
Repurchase of common stock	(2,417)				(2,417)
Other	1	1
Other comprehensive income (loss), net of tax	358		358
Ending Balance at Jun. 28, 2020	62,978	113,898	(15,533)	3,120	(38,507)
Beginning Balance at Mar. 29, 2020	61,294	112,901	(16,243)	3,120	(38,484)
Net earnings	3,626	3,626
Cash dividends paid	(2,659)	(2,659)
Employee compensation and stock option plans	712	29			683
Repurchase of common stock	(706)				(706)
Other	1	1
Other comprehensive income (loss), net of tax	710		710
Ending Balance at Jun. 28, 2020	62,978	113,898	(15,533)	3,120	(38,507)
Beginning Balance at Jan. 03, 2021	63,278	113,890	(15,242)	3,120	(38,490)
Net earnings	12,475	12,475
Cash dividends paid	(5,450)	(5,450)
Employee compensation and stock option plans	1,204	(761)			1,965
Repurchase of common stock	(2,069)				(2,069)
Other comprehensive income (loss), net of tax	142		142
Ending Balance at Jul. 04, 2021	69,580	120,154	(15,100)	3,120	(38,594)
Beginning Balance at Apr. 04, 2021	65,834	116,508	(15,328)	3,120	(38,466)
Net earnings	6,278	6,278
Cash dividends paid	(2,791)	(2,791)
Employee compensation and stock option plans	662	159			503
Repurchase of common stock	(631)				(631)
Other comprehensive income (loss), net of tax	228		228
Ending Balance at Jul. 04, 2021	$ 69,580	$ 120,154	$ (15,100)	$ 3,120	$ (38,594)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends paid (in dollars per share)	$ 1.06	$ 1.01	$ 2.07	$ 1.96

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 6,278	$ 3,626	$ 12,475	$ 9,422
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property and intangibles			3,733	3,473
Stock based compensation			661	589
Asset write-downs			26	33
Contingent consideration reversal			0	(983)
Net gain on sale of assets/businesses			(601)	(60)
Deferred tax provision			(685)	(428)
Credit losses and accounts receivable allowances			(52)	117
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
Increase in accounts receivable			(1,566)	(520)
Increase in inventories			(818)	(637)
Decrease in accounts payable and accrued liabilities			(4,050)	(2,319)
Decrease/(Increase) in other current and non-current assets			1,415	(1,048)
Decrease in other current and non-current liabilities			(1,150)	(829)
NET CASH FLOWS FROM OPERATING ACTIVITIES			9,388	6,810
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment			(1,490)	(1,287)
Proceeds from the disposal of assets/businesses, net (Note 10)			654	87
Acquisitions, net of cash acquired (Note 10)			0	(949)
Purchases of investments			(12,264)	(8,551)
Sales of investments			12,453	2,417
Credit support agreements activity, net			441	672
Other (primarily licenses and milestones)			(398)	(492)
NET CASH USED BY INVESTING ACTIVITIES			(604)	(8,103)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends to shareholders			(5,450)	(5,164)
Repurchase of common stock			(2,069)	(2,417)
Proceeds from short-term debt			498	2,717
Repayment of short-term debt			(689)	(17)
Proceeds from long-term debt, net of issuance costs			1	1
Repayment of long-term debt			(1,451)	(11)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net			543	708
Credit support agreements activity, net			130	0
Other			83	(489)
NET CASH USED BY FINANCING ACTIVITIES			(8,404)	(4,672)
Effect of exchange rate changes on cash and cash equivalents			(33)	(166)
Increase/(Decrease) in cash and cash equivalents			347	(6,131)
Cash and Cash equivalents, beginning of period			13,985	17,305	$ 17,305
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 14,332	$ 11,174	14,332	11,174	$ 13,985
Acquisitions
Fair value of assets acquired			0	1,173
Fair value of liabilities assumed and noncontrolling interests			0	(224)
Net cash paid for acquisitions			$ 0	$ 949

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 04, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	The accompanying unaudited interim consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of Johnson & Johnson and its subsidiaries (the Company) and related notes as contained in the Company’s Annual Report on Form 10-K for the fiscal year ended January 3, 2021. The unaudited interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures. Use of Estimates The extent to which COVID-19 impacts the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of COVID-19, the extent to which it will impact worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of July 4, 2021 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, inventory and related reserves, accrued rebates and associated reserves, and the carrying value of the goodwill and other long-lived assets along with the Company’s on-going vaccine development and distribution efforts. While there was not a material impact to the Company’s consolidated financial statements as of and for the quarter ended July 4, 2021, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods. New Accounting Standards The Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board on the Company's financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the fiscal year ended January 3, 2021. There were no new material accounting standards issued in the fiscal six months of 2021 that impacted the Company. Recently Adopted Accounting Standards There were no new material accounting standards adopted in the fiscal six months of 2021. Reclassification Certain prior period amounts have been reclassified to conform to current year presentation.

Inventories

Inventories	6 Months Ended
	Jul. 04, 2021
Inventory Disclosure [Abstract]
Inventories	INVENTORIES (Dollars in Millions) July 4, 2021 January 3, 2021 Raw materials and supplies $ 1,576 1,410 Goods in process 2,307 2,040 Finished goods 6,217 5,894 Total inventories $ 10,100 9,344

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jul. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	INTANGIBLE ASSETS AND GOODWILL Intangible assets that have finite useful lives are amortized over their estimated useful lives. The latest annual impairment assessment of goodwill and indefinite lived intangible assets was completed in the fiscal fourth quarter of 2020. Future impairment tests for goodwill and indefinite lived intangible assets will be performed annually in the fiscal fourth quarter, or sooner, if warranted. (Dollars in Millions) July 4, 2021 January 3, 2021 Intangible assets with definite lives: Patents and trademarks — gross $ 39,815 39,990 Less accumulated amortization (19,009) (17,618) Patents and trademarks — net 20,806 22,372 Customer relationships and other intangibles — gross 22,976 22,898 Less accumulated amortization (11,379) (10,912) Customer relationships and other intangibles — net* 11,597 11,986 Intangible assets with indefinite lives: Trademarks 7,105 7,195 Purchased in-process research and development 10,736 11,849 Total intangible assets with indefinite lives 17,841 19,044 Total intangible assets — net $ 50,244 53,402 *The majority is comprised of customer relationships Goodwill as of July 4, 2021 was allocated by segment of business as follows: (Dollars in Millions) Consumer Health Pharmaceutical Medical Devices Total Goodwill at January 3, 2021 $ 10,336 11,009 15,048 36,393 Goodwill, related to acquisitions — — — — Goodwill, related to divestitures (7) — — (7) Currency translation/Other (242) (204) (121) (567) Goodwill at July 4, 2021 $ 10,087 10,805 14,927 35,819 The weighted average amortization period for patents and trademarks is 12 years. The weighted average amortization period for customer relationships and other intangible assets is 21 years. The amortization expense of amortizable intangible assets included in cost of products sold was $1.2 billion and $1.1 billion for the fiscal second quarters ended July 4, 2021 and June 28, 2020, respectively. The amortization expense of amortizable intangible assets included in cost of products sold was $2.4 billion and $2.2 billion for the fiscal six months ended July 4, 2021 and June 28, 2020, respectively. Intangible asset write-downs are included in Other (income) expense, net. The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2021 2022 2023 2024 2025 $4,700 4,500 4,500 4,300 3,600 See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 04, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company uses forward foreign exchange contracts to manage its exposure to the variability of cash flows, primarily related to the foreign exchange rate changes of future intercompany product and third-party purchases of materials denominated in a foreign currency. The Company uses cross currency interest rate swaps to manage currency risk primarily related to borrowings. Both types of derivatives are designated as cash flow hedges. Additionally, the Company uses interest rate swaps as an instrument to manage interest rate risk related to fixed rate borrowings. These derivatives are designated as fair value hedges. The Company uses cross currency interest rate swaps and forward foreign exchange contracts designated as net investment hedges. Additionally, the Company uses forward foreign exchange contracts to offset its exposure to certain foreign currency assets and liabilities. These forward foreign exchange contracts are not designated as hedges, and therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the related foreign currency assets and liabilities. The Company does not enter into derivative financial instruments for trading or speculative purposes, or that contain credit risk related contingent features. The Company maintains credit support agreements (CSA) with certain derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. As of July 4, 2021, the cumulative amount of cash collateral paid by the Company under the CSA amounted to $494 million net, primarily related to net investment and cash flow hedges. On an ongoing basis, the Company monitors counter-party credit ratings. The Company considers credit non-performance risk to be low, because the Company primarily enters into agreements with commercial institutions that have at least an investment grade credit rating. Refer to the table on significant financial assets and liabilities measured at fair value contained in this footnote for receivables and payables with these commercial institutions. As of July 4, 2021, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $46.2 billion, $34.8 billion and $2.0 billion respectively. As of January 3, 2021, the Company had notional amounts outstanding for forward foreign exchange contracts and cross currency interest rate swaps of $37.8 billion and $30.6 billion, respectively. All derivative instruments are recorded on the balance sheet at fair value. Changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income, depending on whether the derivative is designated as part of a hedge transaction, and if so, the type of hedge transaction. The designation as a cash flow hedge is made at the entrance date of the derivative contract. At inception, all derivatives are expected to be highly effective. Foreign exchange contracts designated as cash flow hedges are accounted for under the forward method and all gains/losses associated with these contracts will be recognized in the income statement when the hedged item impacts earnings. Changes in the fair value of these derivatives are recorded in accumulated other comprehensive income until the underlying transaction affects earnings and are then reclassified to earnings in the same account as the hedged transaction. Gains and losses associated with interest rate swaps and changes in fair value of hedged debt attributable to changes in interest rates are recorded to interest expense in the period in which they occur. Gains and losses on net investment hedges are accounted for through the currency translation account within accumulated other comprehensive income. The portion excluded from effectiveness testing is recorded through interest (income) expense using the spot method. On an ongoing basis, the Company assesses whether each derivative continues to be highly effective in offsetting changes of hedged items. If and when a derivative is no longer expected to be highly effective, hedge accounting is discontinued. The Company designated its Euro denominated notes issued in May 2016 with due dates ranging from 2022 to 2035 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates. As of July 4, 2021, the balance of deferred net gain on derivatives included in accumulated other comprehensive income was $187 million after-tax. For additional information, see the Consolidated Statements of Comprehensive Income and Note 7. The Company expects that substantially all of the amounts related to forward foreign exchange contracts will be reclassified into earnings over the next 12 months as a result of transactions that are expected to occur over that period. The maximum length of time over which the Company is hedging transaction exposure is 18 months, excluding interest rate contracts and net investment hedge contracts. The amount ultimately realized in earnings may differ as foreign exchange rates change. Realized gains and losses are ultimately determined by actual exchange rates at maturity of the derivative. The following table is a summary of the activity related to derivatives and hedges for the fiscal second quarters ended in 2021 and 2020, net of tax: July 4, 2021 June 28, 2020 (Dollars in Millions) Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense The effects of fair value, net investment and cash flow hedging: Gain (Loss) on fair value hedging relationship: Interest rate swaps contracts: Hedged items $ — — — (6) — — — — — Derivatives designated as hedging instruments — — — 6 — — — — — Gain (Loss) on net investment hedging relationship: Cross currency interest rate swaps contracts: Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing — — — 40 — — — — 39 — Amount of gain or (loss) recognized in AOCI — — — 40 — — — — 39 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 11 14 104 — 2 (2) (62) 2 — — Amount of gain or (loss) recognized in AOCI (3) (50) 119 — 8 (2) (128) (10) — 22 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 99 — — — 83 — Amount of gain or (loss) recognized in AOCI $ — — — 286 — — — — 100 — The following table is a summary of the activity related to derivatives and hedges for the fiscal six months ended in 2021 and 2020, net of tax: July 4, 2021 June 28, 2020 (Dollars in Millions) Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense The effects of fair value, net investment and cash flow hedging: Gain (Loss) on fair value hedging relationship: Interest rate swaps contracts: Hedged items $ — — — (6) — — — — — Derivatives designated as hedging instruments — — — 6 — — — — — Gain (Loss) on net investment hedging relationship: Cross currency interest rate swaps contracts: Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing — — — 80 — — — — 79 — Amount of gain or (loss) recognized in AOCI — — — 80 — — — — 79 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 28 48 (9) — 5 7 (235) (108) — (2) Amount of gain or (loss) recognized in AOCI (6) (243) 43 — 25 9 174 (120) — (14) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 191 — — — — 181 — Amount of gain or (loss) recognized in AOCI $ — — — (21) — — — — 725 — As of July 4, 2021, and January 3, 2021, the following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustment for fair value hedges Line item in the Consolidated Balance Sheet in which the hedged item is included Carrying Amount of the Hedged Liability Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability (Dollars in Millions) July 4, 2021 January 3, 2021 July 4, 2021 January 3, 2021 Long-term Debt 1,975 — 8 — The following table is the effect of derivatives not designated as hedging instruments for the fiscal second quarters 2021 and 2020: Gain/(Loss) Gain/(Loss) (Dollars in Millions) Location of Gain /(Loss) Recognized in Income on Derivative Fiscal Second Quarter Ended Fiscal Six Months Ended Derivatives Not Designated as Hedging Instruments July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Foreign Exchange Contracts Other (income) expense $ (21) (24) (37) 65 The following table is the effect of net investment hedges for the fiscal second quarters ended in 2021 and 2020 Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Debt $ (45) (95) Interest (income) expense — — Cross Currency interest rate swaps $ (70) (186) Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal six months ended in 2021 and 2020 Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Debt $ 164 (48) Interest (income) expense — — Cross Currency interest rate swaps $ 291 641 Interest (income) expense — — The Company holds equity investments with readily determinable fair values and equity investments without readily determinable fair values. The Company has elected to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The following table is a summary of the activity related to equity investments: (Dollars in Millions) January 3, 2021 July 4, 2021 Carrying Value Changes in Fair Value Reflected in Net Income (1) Sales/ Purchases/Other (2) Carrying Value Non Current Other Assets Equity Investments with readily determinable value $ 1,481 171 26 1,678 1,678 Equity Investments without readily determinable value $ 738 22 64 824 824 (1) Recorded in Other Income/Expense (2) Other includes impact of currency For equity investments without readily determinable market values, $15 million of the decrease in the fair value reflected in net income were the result of impairments. There were $37 million of increase in fair value reflected in net income due to changes in observable prices. Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement determined using assumptions that market participants would use in pricing an asset or liability. In accordance with ASC 820, a three-level hierarchy was established to prioritize the inputs used in measuring fair value. The levels within the hierarchy are described below with Level 1 inputs having the highest priority and Level 3 inputs having the lowest. The fair value of a derivative financial instrument (i.e., forward foreign exchange contracts, interest rate contracts) is the aggregation by currency of all future cash flows discounted to its present value at the prevailing market interest rates and subsequently converted to the U.S. Dollar at the current spot foreign exchange rate. The Company does not believe that fair values of these derivative instruments materially differ from the amounts that could be realized upon settlement or maturity, or that the changes in fair value will have a material effect on the Company’s results of operations, cash flows or financial position. The Company also holds equity investments which are classified as Level 1 and debt securities which are classified as Level 2. The Company holds acquisition related contingent liabilities based upon certain regulatory and commercial events, which are classified as Level 3, whose values are determined using discounted cash flow methodologies or similar techniques for which the determination of fair value requires significant judgment or estimations. The following three levels of inputs are used to measure fair value: Level 1 — Quoted prices in active markets for identical assets and liabilities. Level 2 — Significant other observable inputs. Level 3 — Significant unobservable inputs. The Company’s significant financial assets and liabilities measured at fair value as of July 4, 2021 and January 3, 2021 were as follows: July 4, 2021 January 3, 2021 (Dollars in Millions) Level 1 Level 2 Level 3 Total Total (1) Derivatives designated as hedging instruments: Assets: Forward foreign exchange contracts $ — 405 — 405 849 Interest rate contracts (2) — 451 — 451 240 Total — 856 — 856 1,089 Liabilities: Forward foreign exchange contracts — 620 — 620 702 Interest rate contracts (2) — 674 — 674 1,569 Total — 1,294 — 1,294 2,271 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 64 — 64 49 Liabilities: Forward foreign exchange contracts — 58 — 58 38 Other Investments: Equity investments (3) 1,678 — — 1,678 1,481 Debt securities (4) — 13,056 — 13,056 14,042 Other Liabilities Contingent consideration (5) $ — — 593 593 633 Gross to Net Derivative Reconciliation July 4, 2021 January 3, 2021 (Dollars in Millions) Total Gross Assets $ 920 1,138 Credit Support Agreement (CSA) (833) (1,107) Total Net Asset 87 31 Total Gross Liabilities 1,352 2,309 Credit Support Agreement (CSA) (1,327) (2,172) Total Net Liabilities $ 25 137 Summarized information about changes in liabilities for contingent consideration is as follows: July 4, 2021 June 28, 2020 (Dollars in Millions) Beginning Balance $ 633 $ 1,715 Changes in estimated fair value (6) 8 (938) Additions — 106 Payments (48) (87) Ending Balance $ 593 $ 796 (1) 2020 assets and liabilities are all classified as Level 2 with the exception of equity investments of $1,481 million, which are classified as Level 1 and contingent consideration of $633 million, classified as Level 3. (2) Includes cross currency interest rate swaps and interest rate swaps as of July 4, 2021. Includes cross currency interest rate swaps as of January 3, 2021. (3) Classified as non-current other assets. (4) Classified within cash equivalents and current marketable securities. (5) Includes $579 million and $594 million, classified as non-current other liabilities as of July 4, 2021 and January 3, 2021, respectively. Includes $14 million and $39 million classified as current liabilities as of July 4, 2021 and January 3, 2021, respectively. (6) Ongoing fair value adjustment amounts are primarily recorded in Research and Development expense. The Company recorded a contingent consideration reversal of $983 million in 2020 related to the timing of certain developmental milestones associated with the Auris Health acquisition. The reversal of the contingent consideration was recorded in Other income and expense, net. The Company's cash, cash equivalents and current marketable securities as of July 4, 2021 comprised: (Dollars in Millions) Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $ 2,313 — — 2,313 2,313 — Non-U.S. sovereign securities (1) 869 — — 869 75 794 U.S. reverse repurchase agreements 2,091 — — 2,091 2,091 — Corporate debt securities (1) 3,230 — — 3,230 2,191 1,039 Money market funds 2,618 — — 2,618 2,618 — Time deposits (1) 1,129 — — 1,129 1,129 — Subtotal 12,250 — — 12,250 10,417 1,833 Unrealized Gain Unrealized Loss U.S. Gov't securities 12,798 — — 12,798 3,890 8,908 Other sovereign securities 1 — — 1 — 1 Corporate debt securities 257 — — 257 25 232 Subtotal available for sale debt (2) $ 13,056 — — 13,056 3,915 9,141 Total cash, cash equivalents and current marketable securities $ 25,306 — — 25,306 14,332 10,974 (1) Held to maturity investments are reported at amortized cost and gains or losses are reported in earnings. (2) Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income. As of the fiscal year ended January 3, 2021 the carrying amount was approximately the same as the estimated fair value. Fair value of government securities and obligations and corporate debt securities was estimated using quoted broker prices and significant other observable inputs. The Company classifies all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months from the date of purchase as current marketable securities. Available for sale securities with stated maturities of greater than one year from the date of purchase are available to fund current operations and are classified as cash equivalents and current marketable securities. The contractual maturities of the available for sale securities as of July 4, 2021 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $ 13,043 13,043 Due after one year through five years 13 13 Due after five years through ten years — — Total debt securities $ 13,056 13,056 Financial Instruments not measured at Fair Value: The following financial liabilities are held at carrying amount on the consolidated balance sheet as of July 4, 2021: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $ 3,173 3,192 Non-Current Debt 6.73% Debentures due 2023 250 288 3.375% Notes due 2023 802 863 2.05% Notes due 2023 499 512 0.650% Notes due 2024 (750MM Euro 1.1870) 888 912 5.50% Notes due 2024 (500 MM GBP 1.3809) 688 801 2.625% Notes due 2025 749 798 0.55% Notes due 2025 997 988 2.45% Notes due 2026 1,994 2,127 2.95% Notes due 2027 997 1,092 0.95% Notes due 2027 1,494 1,471 2.90% Notes due 2028 1,495 1,639 1.150% Notes due 2028 (750MM Euro 1.1870) 884 958 6.95% Notes due 2029 297 419 1.30% Notes due 2030 1,743 1,697 4.95% Debentures due 2033 498 659 4.375% Notes due 2033 855 1,075 1.650% Notes due 2035 (1.5B Euro 1.1870) 1,766 2,033 3.55% Notes due 2036 990 1,156 5.95% Notes due 2037 993 1,456 3.625% Notes due 2037 1,488 1,743 3.40% Notes due 2038 991 1,132 5.85% Debentures due 2038 696 1,018 4.50% Debentures due 2040 540 701 2.10% Notes due 2040 986 942 4.85% Notes due 2041 297 398 4.50% Notes due 2043 496 649 3.70% Notes due 2046 1,975 2,359 3.75% Notes due 2047 992 1,198 3.50% Notes due 2048 743 867 2.25% Notes due 2050 991 932 2.45% Notes due 2060 1,229 1,169 Other 7 6 Total Non-Current Debt $ 30,310 34,058 The weighted average effective interest rate on non-current debt is 2.98%. The excess of the estimated fair value over the carrying value of debt was $5.4 billion at January 3, 2021. The current debt balance as of July 4, 2021 includes $0.6 billion of commercial paper which has a weighted average interest rate of 0.05% and a weighted average maturity of approximately two months. Fair value of the non-current debt was estimated using market prices, which were corroborated by quoted broker prices and significant other observable inputs.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The worldwide effective income tax rates for the fiscal six months of 2021 and 2020 were 11.5% an d 9.8%, respectively. In the second fiscal quarter of 2021, the Company reorganized the ownership structure of certain wholly-owned international subsidiaries. As part of this reorganization, the Company increased the tax basis of certain assets to fair value in accordance with applicable local regulations. Accordingly, the Company recorded a local deferred tax benefit of approximately $2.3 billion, which was partially offset by a related increase in the U.S. GILTI deferred tax liability of approximately $1.7 billion. The net impact of this restructuring was approximately $0.6 billion net benefit or 4.4% decrease to the 2021 year-to-date effective tax rate. In 2019, Switzerland enacted the Federal Act on Tax Reform and AHV Financing (TRAF), which became effective on January 1, 2020. More information on the provisions of TRAF can be found in the Company’s Annual Report on Form 10-K for the year ended January 3, 2021. During the first fiscal quarter of 2020, the final canton where the Company maintains significant operations enacted TRAF legislation and, accordingly, the Company recorded a deferred tax benefit of approximately $0.3 billion for the remeasurement of existing deferred tax liabilities offset by a related $0.2 billion increase in U.S. GILTI deferred taxes. During the second fiscal quarter of 2020, the Company received rulings from the Swiss Federal and cantonal tax authorities in the remaining jurisdictions where it has significant operations. These rulings resulted in the Company increasing the tax basis of certain assets to fair value. As a result, the Company recorded additional deferred tax benefits in the second fiscal quarter of 2020 to recognize this step-up. The total benefit recorded related to Swiss Tax reform in the fiscal six months of 2020 was approximately $0.4 billion, or 3.8% net benefit to the Company’s six months effective tax rate, inclusive of the impact of U.S. GILTI deferred taxes. During the second fiscal quarter of 2020, the Company reversed some of its international unrecognized tax benefits due to the completion of several years of tax examinations in certain jurisdictions. This reserve reversal benefited the Company’s effective tax rate by approximately 1.0% for the fiscal six months of 2020. In the first fiscal quarter of 2020, the Company reduced a contingent consideration liability related to the 2019 Auris Health acquisition that benefited the 2020 tax rate by approximately 1.0% (for additional details see Note 18 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended January 3, 2021). Additionally, the Company had more income in higher tax jurisdictions relative to lower tax jurisdictions as compared to the same period in the prior fiscal year. This was primarily driven by the additional legal costs accrued in the second fiscal quarter of 2020 at the U.S. statutory rate versus 2021 (for additional details see Note 11 to the Consolidated Financial Statements). The Company also generated additional tax benefits from stock-based compensation that were either exercised or vested during the first and second fiscal quarters of 2021 and 2020.

Pensions and Other Benefit Plan

Pensions and Other Benefit Plans	6 Months Ended
	Jul. 04, 2021
Retirement Benefits [Abstract]
Pensions and Other Benefit Plans	PENSIONS AND OTHER BENEFIT PLANS Components of Net Periodic Benefit Cost Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans include the following components: Fiscal Second Quarter Ended Fiscal Six Months Ended Retirement Plans Other Benefit Plans Retirement Plans Other Benefit Plans (Dollars in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Service cost $ 327 323 77 72 680 649 154 144 Interest cost 193 237 21 33 386 477 41 66 Expected return on plan assets (647) (608) (2) (1) (1,327) (1,222) (4) (3) Amortization of prior service cost/(credit) (45) 1 (7) (8) (90) 1 (15) (16) Recognized actuarial losses 316 222 37 35 630 445 75 71 Curtailments and settlements — — — — 1 19 — — Net periodic benefit cost $ 144 175 126 131 280 369 251 262 The service cost component of net periodic benefit cost is presented in the same line items on the Consolidated Statement of Earnings where other employee compensation costs are reported. All other components of net periodic benefit cost are presented as part of Other (income) expense, net on the Consolidated Statement of Earnings. Company Contributions For the fiscal six months ended July 4, 2021, the Company contributed $46 million and $222 million to its U.S. and international retirement plans, respectively. The Company plans to continue to fund its U.S. defined benefit plans to comply with the Pension Protection Act of 2006. International plans are funded in accordance with local regulations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jul. 04, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME Components of other comprehensive income (loss) consist of the following: Foreign Gain/(Loss) Employee Gain/(Loss) Total Accumulated Currency On Benefit On Derivatives Other Comprehensive (Dollars in Millions) Translation Securities Plans & Hedges Income (Loss) January 3, 2021 $ (8,938) 1 (6,957) 652 (15,242) Net change 141 (1) 467 (465) 142 July 4, 2021 $ (8,797) — (6,490) 187 (15,100) Amounts in accumulated other comprehensive income are presented net of the related tax impact. Foreign currency translation is not adjusted for income taxes where it relates to permanent investments in international subsidiaries. For additional details on comprehensive income see the Consolidated Statements of Comprehensive Income. Details on reclassifications out of Accumulated Other Comprehensive Income: Gain/(Loss) On Securities - reclassifications released to Other (income) expense, net. Employee Benefit Plans - reclassifications are included in net periodic benefit cost. See Note 6 for additional details. Gain/(Loss) On Derivatives & Hedges - reclassifications to earnings are recorded in the same account as the underlying transaction. See Note 4 for additional details.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 04, 2021
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The following is a reconciliation of basic net earnings per share to diluted net earnings per share: Fiscal Second Quarter Ended Fiscal Six Months Ended (Shares in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Basic net earnings per share $ 2.38 1.38 4.74 3.58 Average shares outstanding — basic 2,632.5 2,632.9 2,632.0 2,633.3 Potential shares exercisable under stock option plans 141.9 119.6 126.0 122.6 Less: shares which could be repurchased under treasury stock method (102.8) (87.5) (84.0) (85.4) Convertible debt shares — 0.5 — 0.5 Average shares outstanding — diluted 2,671.6 2,665.5 2,674.0 2,671.0 Diluted net earnings per share $ 2.35 1.36 4.67 3.53 The diluted net earnings per share calculation for the fiscal second quarter ended July 4, 2021 included all shares related to stock options, as the exercise price of all options was less than the average market value of the Company’s stock. In the fiscal second quarter ended July 4, 2021, the Company did not have convertible debt. The diluted net earnings per share calculation for the fiscal second quarter ended June 28, 2020 excluded 20 million shares related to stock options, as the exercise price of these options was greater than their average market value. The diluted net earnings per share calculation for the fiscal second quarter ended June 28, 2020 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense. The diluted net earnings per share calculation for the first fiscal six months ended July 4, 2021 excluded 14 million shares related to stock options, as the exercise price of these options was greater than their average market value. In the first fiscal six months ended July 4, 2021, the Company did not have convertible debt.

Segments of Business and Geogra

Segments of Business and Geographic Areas	6 Months Ended
	Jul. 04, 2021
Segment Reporting [Abstract]
Segments of Business and Geographic Areas	SEGMENTS OF BUSINESS AND GEOGRAPHIC AREAS SALES BY SEGMENT OF BUSINESS Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, June 28, Percent July 4, June 28, Percent Change Consumer Health OTC U.S. $ 675 627 7.7 % $ 1,274 1,316 (3.2) % International 633 522 21.2 1,208 1,181 2.3 Worldwide 1,307 1,149 13.8 2,482 2,497 (0.6) Skin Health/Beauty U.S. 659 536 23.0 1,293 1,195 8.2 International 511 471 8.4 1,040 929 12.0 Worldwide 1,170 1,007 16.2 2,333 2,124 9.8 Oral Care U.S. 165 170 (3.1) 328 346 (5.2) International 260 227 14.6 514 446 15.3 Worldwide 426 397 7.0 843 792 6.3 Baby Care U.S. 97 96 0.8 193 188 2.4 International 290 260 11.5 583 529 10.2 Worldwide 387 356 8.6 776 717 8.1 Women's Health U.S. 3 3 (3.1) 6 7 (16.0) International 227 199 14.2 446 427 4.5 Worldwide 230 202 13.9 452 434 4.2 Wound Care/Other U.S. 153 126 20.9 268 245 9.3 International 64 59 7.3 125 111 12.1 Worldwide 216 185 16.6 393 356 10.2 TOTAL Consumer Health U.S. 1,751 1,557 12.4 3,362 3,297 2.0 International 1,984 1,739 14.1 3,916 3,624 8.1 Worldwide 3,735 3,296 13.3 7,278 6,921 5.2 PHARMACEUTICAL Immunology U.S. 2,748 2,362 16.4 5,161 4,772 8.2 International 1,483 1,161 27.7 2,984 2,389 24.9 Worldwide 4,231 3,523 20.1 8,145 7,161 13.7 REMICADE ® U.S. 540 593 (9.1) 1,029 1,218 (15.6) U.S. Exports 93 133 (30.0) 150 243 (38.2) International 255 208 22.4 487 464 4.9 Worldwide 888 935 (5.1) 1,665 1,925 (13.5) SIMPONI / SIMPONI ARIA ® U.S. 290 256 12.8 545 528 3.2 International 294 289 1.7 601 547 9.8 Worldwide 584 546 6.9 1,146 1,075 6.6 STELARA ® U.S. 1,496 1,138 31.4 2,827 2,355 20.0 International 778 558 39.2 1,595 1,161 37.3 Worldwide 2,274 1,697 34.0 4,422 3,516 25.8 TREMFYA ® U.S. 325 241 35.0 599 428 40.0 International 155 101 52.3 298 210 41.8 Worldwide 479 342 40.2 897 638 40.6 OTHER IMMUNOLOGY U.S. 5 — * 12 — * International 1 3 (61.3) 3 6 (51.2) Worldwide 7 3 * 15 6 * Infectious Diseases U.S. 444 416 6.8 956 852 12.2 International 585 463 26.3 1,079 946 14.1 Worldwide 1,028 878 17.1 2,035 1,798 13.2 COVID-19 vaccine U.S. 51 — * 151 — * International 113 — * 113 — * Worldwide 164 — * 264 — * EDURANT ® / rilpivirine U.S. 9 10 (9.3) 19 22 (10.9) International 253 246 2.8 486 458 6.0 Worldwide 262 256 2.3 505 480 5.2 PREZISTA ® / PREZCOBIX ® / REZOLSTA ® / SYMTUZA ® U.S. 368 379 (3.2) 748 775 (3.5) International 137 130 5.5 303 314 (3.5) Worldwide 505 510 (1.0) 1,051 1,089 (3.5) OTHER INFECTIOUS DISEASES U.S. 16 25 (36.2) 37 54 (31.3) International 81 87 (6.2) 177 174 1.8 Worldwide 98 113 (13.0) 215 229 (6.1) Neuroscience U.S. 842 778 8.0 1,613 1,526 5.6 International 967 809 19.6 1,916 1,719 11.5 Worldwide 1,808 1,587 13.9 3,529 3,245 8.7 CONCERTA ® / methylphenidate U.S. 35 55 (36.0) 82 107 (23.1) International 127 94 33.7 250 212 17.5 Worldwide 161 149 8.1 332 320 3.9 INVEGA SUSTENNA ® / XEPLION ® / INVEGA TRINZA ® / TREVICTA ® U.S. 645 576 11.9 1,234 1,120 10.2 International 380 303 25.1 756 642 17.7 Worldwide 1,024 879 16.4 1,989 1,762 12.9 RISPERDAL CONSTA ® U.S. 72 74 (3.0) 139 150 (7.5) International 84 79 6.4 173 173 0.4 Worldwide 155 153 1.9 312 323 (3.3) OTHER NEUROSCIENCE U.S. 91 75 20.9 158 150 5.6 International 377 331 13.8 738 691 6.7 Worldwide 468 406 15.1 896 841 6.5 Oncology U.S. 1,462 1,181 23.7 2,839 2,356 20.5 International 2,073 1,609 28.8 4,266 3,448 23.7 Worldwide 3,535 2,791 26.7 7,105 5,804 22.4 DARZALEX ® U.S. 770 492 56.7 1,461 955 53.1 International 663 409 62.1 1,337 883 51.4 Worldwide 1,433 901 59.2 2,798 1,838 52.2 ERLEADA ® U.S. 193 136 41.5 364 255 42.7 International 109 33 * 199 57 * Worldwide 302 170 77.6 563 313 80.0 IMBRUVICA ® U.S. 454 447 1.7 898 879 2.2 International 662 502 31.9 1,342 1,101 21.9 Worldwide 1,116 949 17.7 2,241 1,980 13.2 ZYTIGA ® / abiraterone acetate U.S. 21 87 (75.3) 71 226 (68.5) International 542 480 12.8 1,130 1,032 9.5 Worldwide 563 568 (0.8) 1,201 1,258 (4.5) OTHER ONCOLOGY (1) U.S. 23 20 18.8 44 42 6.3 International 97 185 (47.2) 258 375 (31.0) Worldwide 120 204 (40.9) 302 416 (27.3) Pulmonary Hypertension U.S. 595 545 9.0 1,168 1,031 13.2 International 275 243 13.5 563 503 12.1 Worldwide 870 789 10.4 1,731 1,534 12.9 OPSUMIT ® U.S. 290 256 13.6 562 485 15.9 International 172 150 14.9 351 310 13.1 Worldwide 463 406 14.1 913 795 14.8 UPTRAVI ® U.S. 268 254 6.0 527 466 13.3 International 45 28 54.9 91 66 36.8 Worldwide 313 282 11.0 618 532 16.2 OTHER PULMONARY HYPERTENSION U.S. 36 37 (2.4) 78 81 (3.0) International 59 64 (8.2) 122 126 (3.5) Worldwide 95 101 (6.1) 200 207 (3.3) Cardiovascular / Metabolism / Other U.S. 780 837 (6.9) 1,579 1,643 (3.9) International 346 347 (0.3) 674 701 (3.8) Worldwide 1,126 1,184 (5.0) 2,253 2,344 (3.9) XARELTO ® U.S. 569 559 1.8 1,158 1,086 6.6 International — — — — — — Worldwide 569 559 1.8 1,158 1,086 6.6 INVOKANA ® / INVOKAMET ® U.S. 96 132 (27.0) 183 249 (26.6) International 64 47 33.8 127 105 20.3 Worldwide 160 179 (10.9) 310 354 (12.6) PROCRIT ® / EPREX ® U.S. 59 70 (16.3) 121 146 (17.3) International 69 66 3.7 133 145 (8.2) Worldwide 127 136 (6.6) 254 291 (12.8) OTHER U.S. 57 78 (26.7) 117 163 (27.8) International 214 234 (8.4) 415 451 (8.1) Worldwide 271 312 (13.0) 532 614 (13.3) TOTAL PHARMACEUTICAL U.S. 6,869 6,120 12.2 13,315 12,181 9.3 International 5,730 4,632 23.7 11,483 9,705 18.3 Worldwide 12,599 10,752 17.2 24,798 21,886 13.3 MEDICAL DEVICES Interventional Solutions U.S. 475 255 86.5 909 620 46.7 International 572 335 70.5 1,086 697 55.7 Worldwide 1,046 590 77.4 1,995 1,317 51.5 Orthopaedics U.S. 1,323 869 52.3 2,572 2,119 21.4 International 904 583 55.1 1,768 1,371 29.0 Worldwide 2,227 1,451 53.4 4,340 3,489 24.4 HIPS U.S. 234 137 70.5 444 343 29.6 International 159 88 78.6 305 220 38.3 Worldwide 392 226 73.7 749 563 33.0 KNEES U.S. 210 108 94.3 395 322 22.7 International 140 66 * 272 196 39.2 Worldwide 350 174 * 667 517 28.9 TRAUMA U.S. 447 354 26.0 897 761 17.8 International 263 198 32.7 545 445 22.5 Worldwide 710 553 28.4 1,443 1,207 19.6 SPINE, SPORTS & OTHER U.S. 433 270 60.6 836 693 20.7 International 343 230 49.0 646 510 26.7 Worldwide 776 499 55.3 1,482 1,202 23.2 Surgery U.S. 1,035 490 * 1,933 1,334 44.9 International 1,487 1,060 40.2 2,961 2,317 27.8 Worldwide 2,522 1,551 62.6 4,894 3,651 34.0 ADVANCED U.S. 459 277 65.4 864 658 31.3 International 708 498 42.2 1,421 1,065 33.4 Worldwide 1,168 775 50.5 2,286 1,723 32.6 GENERAL U.S. 576 213 * 1,069 676 58.1 International 779 562 38.5 1,540 1,252 23.0 Worldwide 1,354 775 74.7 2,608 1,928 35.3 Vision U.S. 467 248 88.3 939 687 36.6 International 716 447 60.0 1,389 1,075 29.2 Worldwide 1,183 695 70.1 2,328 1,762 32.1 CONTACT LENSES / OTHER U.S. 352 203 73.3 723 549 31.6 International 517 352 47.0 1,003 819 22.5 Worldwide 868 554 56.7 1,725 1,368 26.1 SURGICAL U.S. 115 45 * 216 138 56.3 International 199 96 * 386 256 50.9 Worldwide 314 141 * 602 394 52.8 TOTAL MEDICAL DEVICES U.S. 3,299 1,862 77.2 6,353 4,760 33.5 International 3,679 2,426 51.6 7,204 5,460 31.9 Worldwide 6,978 4,288 62.7 13,557 10,220 32.7 WORLDWIDE U.S. 11,919 9,539 24.9 23,030 20,238 13.8 International 11,393 8,797 29.5 22,603 18,789 20.3 Worldwide $ 23,312 18,336 27.1 % $ 45,633 39,027 16.9 % *Percentage greater than 100% or not meaningful (1) Inclusive of VELCADE ® which was previously disclosed separately EARNINGS BEFORE PROVISION FOR TAXES BY SEGMENT Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, June 28, Percent July 4, June 28, Percent Consumer Health (1) $ 804 32 * $ 1,592 802 98.5% Pharmaceutical (2) 4,356 4,514 (3.5) 9,579 8,348 14.7 Medical Devices (3) 1,746 (354) * 3,375 1,671 * Segment earnings before provision for taxes 6,906 4,192 64.7 14,546 10,821 34.4 Less: Expense not allocated to segments (4) 244 252 455 372 Worldwide income before tax $ 6,662 3,940 69.1% $ 14,091 10,449 34.9% *Percentage greater than 100% or not meaningful (1) Consumer Health • Includes intangible amortization expense of $0.1 billion in both the fiscal second quarter of 2021 and 2020 and $0.2 billion in both the fiscal six months of 2021 and 2020. • Includes litigation expense of $0.1 billion and $0.6 billion in both the fiscal second quarter and fiscal six months of 2021 and 2020, primarily talc related costs, respectively. (2) Pharmaceutical • Includes divestiture gains of $0.6 billion in the fiscal six months of 2021 related to two brands outside the U.S. • Includes an unrealized gain on securities of $0.2 billion and $0.5 billion in the fiscal second quarter and $0.1 billion and $0.2 billion in the fiscal six months of 2021 and 2020, respectively. • Includes intangible amortization expense of $0.8 billion in both the fiscal second quarter of 2021 and 2020. Includes intangible amortization expense of $1.7 billion and $1.6 billion in the fiscal six months of 2021 and 2020. In fiscal 2020 and 2021, the Company entered into a series of contract manufacturing arrangements for vaccine production with third party contract manufacturing organizations. These arrangements provide the Company with future supplemental commercial capacity for vaccine production and potentially transferable rights to such production if capacity is not required. Amounts paid and contractually obligated to be paid to these contract manufacturing organizations of approximately $1.3 billion are reflected in the prepaid expenses and other, other assets, accrued liabilities and other liabilities accounts in the Company's consolidated balance sheet upon execution of each agreement. Additionally, the Company has entered into certain vaccine development cost sharing arrangements with government related organizations. (3) Medical Devices • Includes a contingent consideration reversal of $1.0 billion in the fiscal second quarter of 2020 related to the timing of certain developmental milestones associated with the Auris Health acquisition. • Includes a restructuring related charge of $0.1 billion in both the fiscal second quarter of 2021 and 2020, respectively. • Includes intangible amortization expense of $0.3 billion and $0.2 billion in the fiscal second quarter and $0.5 billion in both the fiscal six months of 2021 and 2020, respectively. • Includes an unrealized gain on securities of $0.1 billion in both the fiscal second quarter and the fiscal six months of 2021. (4) Amounts not allocated to segments include interest income/expense and general corporate income/expense. SALES BY GEOGRAPHIC AREA Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, 2021 June 28, 2020 Percent July 4, 2021 June 28, 2020 Percent Change United States $ 11,919 9,539 24.9 % $ 23,030 20,238 13.8 % Europe 5,668 4,063 39.5 11,082 8,890 24.7 Western Hemisphere, excluding U.S. 1,367 1,133 20.6 2,791 2,635 5.9 Asia-Pacific, Africa 4,358 3,601 21.0 8,730 7,264 20.2 Total $ 23,312 18,336 27.1 % $ 45,633 39,027 16.9 %

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jul. 04, 2021
Business Combinations [Abstract]
Acquisitions and Divestitures	ACQUISITIONS AND DIVESTITURESDuring the first fiscal quarter of 2021, in separate transactions, the Company divested two brands outside the U.S. within the Pharmaceutical segment. The Company recognized a pre-tax gain recorded in Other (income) expense, net, of approximately $0.6 billion. During the fiscal first quarter of 2020, the Company completed the acquisition of all rights to the investigational compound bermekimab, which has multiple dermatological indications, along with certain employees from XBiotech Inc., for a purchase price of $0.8 billion. The fair value of the acquisition was allocated primarily to non-amortizable intangible assets, primarily IPR&D, for $0.8 billion. XBiotech may be eligible to receive additional payments upon the receipt of certain commercialization authorizations. The transaction was accounted for as a business combination and included in the Pharmaceutical segment. Additionally, the Company completed the acquisition of all outstanding shares in Verb Surgical Inc., a company with world-class robotics and data science capabilities, including those shares previously held by Verily. The transaction was accounted for as a business combination and included in the Medical Devices segment. The fair value of the acquisition was allocated primarily to non-amortizable intangible assets, primarily IPR&D, for $0.4 billion, goodwill for $0.2 billion, other assets of $0.2 billion and liabilities assumed of $0.3 billion. The fair value of the Company's previously held equity investment in Verb Surgical Inc. was $0.4 billion.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jul. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	LEGAL PROCEEDINGS Johnson & Johnson and certain of its subsidiaries are involved in various lawsuits and claims regarding product liability; intellectual property; commercial; supplier indemnification and other matters; governmental investigations; and other legal proceedings that arise from time to time in the ordinary course of their business. Due to the ongoing impacts of the COVID-19 pandemic, certain trials have been rescheduled or delayed. The Company continues to monitor its legal proceedings as the situation evolves and in person trials resume. The Company records accruals for loss contingencies associated with these legal matters when it is probable that a liability will be incurred, and the amount of the loss can be reasonably estimated. As of July 4, 2021, the Company has determined that the liabilities associated with certain litigation matters are probable and can be reasonably estimated. The Company has accrued for these matters and will continue to monitor each related legal issue and adjust accruals as might be warranted based on new information and further developments in accordance with ASC 450-20-25. For these and other litigation and regulatory matters discussed below for which a loss is probable or reasonably possible, the Company is unable to estimate the possible loss or range of loss beyond the amounts accrued. Amounts accrued for legal contingencies often result from a complex series of judgments about future events and uncertainties that rely heavily on estimates and assumptions including timing of related payments. The ability to make such estimates and judgments can be affected by various factors including, among other things, whether damages sought in the proceedings are unsubstantiated or indeterminate; scientific and legal discovery has not commenced or is not complete; proceedings are in early stages; matters present legal uncertainties; there are significant facts in dispute; procedural or jurisdictional issues; the uncertainty and unpredictability of the number of potential claims; ability to achieve comprehensive multi-party settlements; complexity of related cross-claims and counterclaims; and/or there are numerous parties involved. To the extent adverse awards, judgments or verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated. In the Company's opinion, based on its examination of these matters, its experience to date and discussions with counsel, the ultimate outcome of legal proceedings, net of liabilities accrued in the Company's balance sheet, is not expected to have a material adverse effect on the Company's financial position. However, the resolution of, or increase in accruals for, one or more of these matters in any reporting period may have a material adverse effect on the Company's results of operations and cash flows for that period. PRODUCT LIABILITY Johnson & Johnson and certain of its subsidiaries are involved in numerous product liability claims and lawsuits involving multiple products. Claimants in these cases seek substantial compensatory and, where available, punitive damages. While the Company believes it has substantial defenses, it is not feasible to predict the ultimate outcome of litigation. From time to time, even if it has substantial defenses, the Company considers isolated settlements based on a variety of circumstances. The Company has established accruals for product liability claims and lawsuits in compliance with ASC 450-20 based on currently available information, which in some cases may be limited. The Company accrues an estimate of the legal defense costs needed to defend each matter when those costs are probable and can be reasonably estimated. For certain of these matters, the Company has accrued additional amounts such as estimated costs associated with settlements, damages and other losses. Product liability accruals can represent projected product liability for thousands of claims around the world, each in different litigation environments and with different fact patterns. Changes to the accruals may be required in the future as additional information becomes available. The most significant of these cases include: the DePuy ASR™ XL Acetabular System and DePuy ASR™ Hip Resurfacing System; the PINNACLE ® Acetabular Cup System; pelvic meshes; RISPERDAL ® ; XARELTO ® ; body powders containing talc, primarily JOHNSONS ® Baby Powder; INVOKANA ® ; and ETHICON PHYSIOMESH ® Flexible Composite Mesh. As of July 4, 2021, in the United States there were approximately 300 plaintiffs with direct claims in pending lawsuits regarding injuries allegedly due to the DePuy ASR™ XL Acetabular System and DePuy ASR™ Hip Resurfacing System; 6,300 with respect to the PINNACLE ® Acetabular Cup System; 11,600 with respect to pelvic meshes; 9,200 with respect to RISPERDAL ® ; 7,800 with respect to XARELTO ® ; 34,600 with respect to body powders containing talc; 200 with respect to INVOKANA ® ; and 4,600 with respect to ETHICON PHYSIOMESH ® Flexible Composite Mesh. In August 2010, DePuy Orthopaedics, Inc. (DePuy) announced a worldwide voluntary recall of its ASR ™ XL Acetabular System and DePuy ASR ™ Hip Resurfacing System used in hip replacement surgery. Claims for personal injury have been made against DePuy and Johnson & Johnson. The number of pending lawsuits is expected to fluctuate as certain lawsuits are settled or dismissed and additional lawsuits are filed. Cases filed in federal courts in the United States have been organized as a multi-district litigation in the United States District Court for the Northern District of Ohio. Litigation has also been filed in countries outside of the United States, primarily in the United Kingdom, Canada, Australia, Ireland, Germany, India and Italy. In November 2013, DePuy reached an agreement with a Court-appointed committee of lawyers representing ASR Hip System plaintiffs to establish a program to settle claims with eligible ASR Hip patients in the United States who had surgery to replace their ASR Hips, known as revision surgery, as of August 31, 2013. DePuy reached additional agreements in February 2015 and March 2017, which further extended the settlement program to include ASR Hip patients who had revision surgeries after August 31, 2013 and prior to February 15, 2017. This settlement program has resolved more than 10,000 claims, therefore bringing to resolution significant ASR Hip litigation activity in the United States. However, lawsuits in the United States remain, and the settlement program does not address litigation outside of the United States. In Australia, a class action settlement was reached that resolved the claims of the majority of ASR Hip patients in that country. In Canada, the Company has reached agreements to settle the class actions filed in that country . The Company continues to receive information with respect to potential additional costs associated with this recall on a worldwide basis. The Company has established accruals for the costs associated with the United States settlement program and DePuy ASR ™ Hip-related product liability litigation. Claims for personal injury have also been made against DePuy Orthopaedics, Inc. and Johnson & Johnson (collectively, DePuy) relating to the PINNACLE ® Acetabular Cup System used in hip replacement surgery. Product liability lawsuits continue to be filed, and the Company continues to receive information with respect to potential costs and the anticipated number of cases. Cases filed in federal courts in the United States have been organized as a multi-district litigation in the United States District Court for the Northern District of Texas. Litigation also has been filed in some state courts and in countries outside of the United States. Several adverse verdicts have been rendered against DePuy, one of which was reversed on appeal and remanded for retrial. During the first quarter of 2019, DePuy established a United States settlement program to resolve these cases. As part of the settlement program, adverse verdicts have been settled. The Company has established an accrual for product liability litigation associated with the PINNACLE ® Acetabular Cup System and the related settlement program. Claims for personal injury have been made against Ethicon, Inc. (Ethicon) and Johnson & Johnson arising out of Ethicon's pelvic mesh devices used to treat stress urinary incontinence and pelvic organ prolapse. The Company continues to receive information with respect to potential costs and additional cases. Cases filed in federal courts in the United States had been organized as a multi-district litigation (MDL) in the United States District Court for the Southern District of West Virginia. In March 2021, the MDL Court entered an order closing the MDL. The MDL Court has remanded cases for trial to the jurisdictions where the case was originally filed and additional pelvic mesh lawsuits have been filed, and remain, outside of the MDL. The Company has settled or otherwise resolved a majority of the United States cases and the estimated costs associated with these settlements and the remaining cases are reflected in the Company's accruals. In addition, class actions and individual personal injury cases or claims seeking damages for alleged injury resulting from Ethicon's pelvic mesh devices have been commenced in various countries outside of the United States, including claims and cases in the United Kingdom, the Netherlands and class actions in Israel, Australia and Canada. In November 2019, the Federal Court of Australia issued a judgment regarding its findings with respect to liability in relation to the three Lead Applicants and generally in relation to the design, manufacture, pre and post-market assessments and testing, and supply and promotion of the devices in Australia used to treat stress urinary incontinence and pelvic organ prolapse. In March 2020, the Court issued a decision and entered damages awards to the three Lead Applicants. The Company appealed the decision to the intermediate appellate court, the Full Court. The appeal was heard in February 2021 and, in March 2021, the Full Court entered a judgment dismissing the appeal. An application for special leave to the High Court of Australia was filed in April 2021, and in July 2021, the High Court agreed to hear oral argument on the application, which is expect to occur in or after October 2021. With respect to class members other than the Lead Applicants, the Federal Court will conduct an individual case assessment process that will require proof of use and causally related loss, although the form of that process has not yet been decided. The class actions in Canada were discontinued in 2020 as a result of a settlement of a group of cases and an agreement to resolve the Israeli class action was reached in May 2021. The Company has established accruals with respect to product liability litigation associated with Ethicon's pelvic mesh products. Following a June 2016 worldwide market withdrawal of ETHICON PHYSIOMESH ® Flexible Composite Mesh, claims for personal injury have been made against Ethicon, Inc. (Ethicon) and Johnson & Johnson alleging personal injury arising out of the use of this hernia mesh device. Cases filed in federal courts in the United States have been organized as a multi-district litigation (MDL) in the United States District Court for the Northern District of Georgia. A multi-county litigation (MCL) also has been formed in New Jersey state court and assigned to Atlantic County for cases pending in New Jersey. In addition to the matters in the MDL and MCL, there are additional lawsuits pending in the United States District Court for the Southern District of Ohio, which are part of the MDL for polypropylene mesh devices manufactured by C.R. Bard, Inc., one multi-plaintiff lawsuit pending in Oklahoma state court and lawsuits pending outside the United States. In May 2021, Ethicon and lead counsel for the plaintiffs entered into a term sheet to resolve approximately 3,600 Physiomesh cases pending at that time. The term sheet will be supplanted by a master settlement agreement, which is currently being negotiated. All deadlines and trial settings are currently stayed pending the completion of the settlement agreement. The costs associated with this proposed settlement is reflected in the Company’s accruals. Claims have also been filed against Ethicon and Johnson & Johnson alleging personal injuries arising from the PROCEED ® Mesh and PROCEED ® Ventral Patch hernia mesh products. In March 2019, the New Jersey Supreme Court entered an order consolidating these cases pending in New Jersey as an MCL in Atlantic County Superior Court. Additional cases have been filed in various federal and state courts in the US, and in jurisdictions outside the US. Discovery is underway in these cases. Ethicon and Johnson & Johnson also have been subject to claims for personal injuries arising from the PROLENE™ Polypropylene Hernia System (PHS). In September 2019, plaintiffs’ attorney filed an application with the New Jersey Supreme Court seeking centralized management of the PHS cases. The New Jersey Supreme Court granted plaintiffs application in January 2020 and those cases have also been transferred to an MCL in Atlantic County Superior Court. Cases have been filed in other various federal and state courts in the United States and discovery is underway in a subset of these cases. The Company has established accruals with respect to product liability litigation associated with ETHICON PHYSIOMESH ® Flexible Composite Mesh, PROCEED ® Mesh and PROCEED ® Ventral Patch, and PROLENE™ Polypropylene Hernia System products. Claims for personal injury have been made against Janssen Pharmaceuticals, Inc. and Johnson & Johnson arising out of the use of RISPERDAL ® , and related compounds, indicated for the treatment of schizophrenia, acute manic or mixed episodes associated with bipolar I disorder and irritability associated with autism. Lawsuits primarily have been filed in state courts in Pennsylvania, California, and Missouri. Other actions are pending in various courts in the United States and Canada. Product liability lawsuits continue to be filed, and the Company continues to receive information with respect to potential costs and the anticipated number of cases. The Company has successfully defended a number of these cases but there have been verdicts against the Company, including a verdict in October 2019 of $8.0 billion of punitive damages related to one plaintiff, which the trial judge reduced to $6.8 million in January 2020. The Company and plaintiff each are appealing this judgment. The Company has settled or otherwise resolved many of the United States cases and the costs associated with these settlements are reflected in the Company's accruals. Claims for personal injury arising out of the use of XARELTO ® , an oral anticoagulant, have been made against Janssen Pharmaceuticals, Inc. (JPI); Johnson & Johnson; and JPI’s collaboration partner for XARELTO ® , Bayer AG and certain of its affiliates. Cases filed in federal courts in the United States have been organized as a multi-district litigation in the United States District Court for the Eastern District of Louisiana. In addition, cases have been filed in state courts across the United States. Many of these cases were consolidated into a state mass tort litigation in Philadelphia, Pennsylvania and in a coordinated proceeding in Los Angeles, California. Class action lawsuits also have been filed in Canada. In March 2019, JPI and Johnson & Johnson announced an agreement in principle to settle the XARELTO ® cases in the United States; the settlement agreement was executed in May 2019, the settlement became final in December 2019, and the settlement was funded in January 2020. This resolved the majority of cases pending in the United States. The Company has established accruals for its costs associated with the United States settlement program and XARELTO ® related product liability litigation. Personal injury claims alleging that talc causes cancer have been made against Johnson & Johnson Consumer Inc. and Johnson & Johnson arising out of the use of body powders containing talc, primarily JOHNSON’S ® Baby Powder. The number of pending personal injury lawsuits continues to increase, and the Company continues to receive information with respect to potential costs and the anticipated number of cases. Lawsuits primarily have been filed in state courts in Missouri, New Jersey and California, and suits have also been filed outside the United States. The majority of cases are pending in federal court, organized into a multi-district litigation (MDL) in the United States District Court for the District of New Jersey. In the MDL, the parties sought to exclude experts through Daubert motions. In April 2020, the Court issued rulings that limit the scope of testimony, including some theories and testing methods, for certain plaintiff expert witnesses and denied plaintiffs’ attempt to limit the scope of testimony of certain of the Company’s witnesses. Case-specific discovery is proceeding per the Court’s directive. In talc cases that previously have gone to trial, the Company has obtained a number of defense verdicts, but there also have been verdicts against the Company, many of which have been reversed on appeal. In June 2020, the Missouri Court of Appeals reversed in part and affirmed in part a July 2018 verdict of $4.7 billion in Ingham v. Johnson & Johnson, et al., No. ED 207476 (Mo. App.), reducing the overall award to $2.1 billion. An application for transfer of the case to the Missouri Supreme Court was subsequently denied and in June 2021, a petition for certiorari, seeking a review of the Ingham decision by the United States Supreme Court was denied. In June 2021, the Company paid the award, which, including interest, totaled approximately $2.5 billion. The facts and circumstances, including the terms of the award, were unique to the Ingham decision and not representative of other claims brought against the Company. The Company continues to believe that it has strong legal grounds to contest the other talc verdicts that it has appealed. Notwithstanding the Company’s confidence in the safety of its talc products, in certain circumstances the Company has and may settle cases. The Company has established an accrual for defense costs and reserves for the resolution of certain cases and claims in connection with product liability litigation associated with body powders containing talc. In February 2019, the Company’s talc supplier, Imerys Talc America, Inc. and two of its affiliates, Imerys Talc Vermont, Inc. and Imerys Talc Canada, Inc. (collectively, Imerys) filed a voluntary chapter 11 petition commencing a reorganization under the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Imerys Bankruptcy). The Imerys Bankruptcy relates to Imerys’ potential liability for personal injury from exposure to talcum powder sold by Imerys (Talc Claims). In its bankruptcy filing, Imerys noted certain claims it alleges it has against the Company for indemnification and rights to joint insurance proceeds. The Company previously proposed to resolve Imerys' (and the Company’s) obligations arising out of the Talc Claims by agreeing to assume the defense of litigation of all Talc Claims involving the Company's products, waiving the Company’s indemnification claims against Imerys, and lifting the automatic stay to enable the Talc Claims to proceed outside the bankruptcy forum with the Company agreeing to settle or pay any judgment against Imerys. That proposal was rejected. In May 2020, Imerys and the asbestos claimants’ committee (Plan Proponents) filed their Plan of Reorganization (the Plan) and the Disclosure Statement related thereto agreeing to put its North American operations up for auction. The Plan Proponents filed numerous amendments to the Plan and Disclosure Statement to which the Company objected. A hearing on the Plan Proponent’s Disclosure Statement was held in January 2021, and the Court entered an order approving the amended Plan, allowing Debtors Imerys to proceed with soliciting votes on the Plan. In March 2021, the Company voted to reject the Debtors’ Plan and opted out of the consensual releases in the Plan. Discovery with respect to the Debtors’ Plan is ongoing. A confirmation hearing is currently contemplated in November 2021. In June 2020, Cyprus Mines Corporation and its parent (Cyprus), which had owned certain Imerys talc mines, filed an adversary proceeding against the Company and Imerys seeking a declaration of indemnity under certain contractual agreements. The Company denies such indemnification is owed, and filed a motion to dismiss the adversary complaint arguing, among other things, that the Court does not have subject matter jurisdiction over Cyprus’s claims against the Company. In February 2021, Cyprus filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code and filed its Disclosure Statement and Plan. In February 2021, several of the Company’s insurers involved in coverage litigation in New Jersey State Court (the “Coverage Action”) filed a motion in the Imerys Bankruptcy Court proceeding seeking a determination that the automatic stay does not apply to the Coverage Action and, in the alternative, seeking relief from the automatic stay to allow them to continue to litigate their claims in the Coverage Action. In March 2021, the Company filed a limited response and reservation of rights with respect to the motion. The Court entered an agreed order modifying the stay to allow the litigation in the Coverage Action to continue. In February 2018, a securities class action lawsuit was filed against Johnson & Johnson and certain named officers in the United States District Court for the District of New Jersey, alleging that Johnson & Johnson violated the federal securities laws by failing to disclose alleged asbestos contamination in body powders containing talc, primarily JOHNSON'S ® Baby Powder, and that purchasers of Johnson & Johnson’s shares suffered losses as a result. Plaintiff is seeking damages. In April 2019, the Company moved to dismiss the complaint and briefing on the motion was complete as of August 2019. In December 2019, the Court denied, in part, the motion to dismiss. In March 2020, Defendants answered the complaint. In April 2021 briefing on Plaintiffs’ motion for class certification was completed. Discovery is ongoing. In June 2019, a shareholder filed a complaint initiating a summary proceeding in New Jersey state court for a books and records inspection. In August 2019, Johnson & Johnson responded to the books and records complaint and filed a cross motion to dismiss. In September 2019, Plaintiff replied and the Court heard oral argument. The Court has not yet ruled in the books and records action. In October 2019, December 2019, and January 2020, four shareholders filed four separate derivative lawsuits against Johnson & Johnson as the nominal defendant and its current directors and certain officers as defendants in the United States District Court for the District of New Jersey, alleging a breach of fiduciary duties related to the alleged asbestos contamination in body powders containing talc, primarily JOHNSON’S ® Baby Powder, and that Johnson & Johnson has suffered damages as a result of those alleged breaches. In February 2020, the four cases were consolidated into a single action under the caption In re Johnson & Johnson Talc Stockholder Derivative Litigation . In July 2020, a report was delivered to the Company’s Board of Directors by independent counsel retained by the Board to investigate the allegations in the derivative lawsuits and in a series of shareholder letters that the Board received raising similar issues. Four of the shareholders who sent demands are plaintiffs in th e In re Johnson & Johnson Talc Stockholder Derivative Litigation . The independent counsel recommended that the Company reject the shareholder demands and take the steps that are necessary or appropriate to secure dismissal of the derivative lawsuits. The Board unanimously adopted the recommendations of the independent counsel’s report. In October 2020, the shareholders filed a consolidated complaint, and in January 2021, Johnson & Johnson moved to dismiss the consolidated complaint. In March 2021, Plaintiffs filed a motion for discovery. The Court temporarily terminated Johnson & Johnson’s motion to dismiss pending a decision on Plaintiff’s motion for discovery. In January 2019, two ERISA class action lawsuits were filed by participants in the Johnson & Johnson Savings Plan against Johnson & Johnson, its Pension and Benefits Committee, and certain named officers in the United States District Court for the District of New Jersey, alleging that the defendants breached their fiduciary duties by offering Johnson & Johnson stock as a Johnson & Johnson Savings Plan investment option when it was imprudent to do so because of failures to disclose alleged asbestos contamination in body powders containing talc, primarily JOHNSON’S ® Baby Powder. Plaintiffs are seeking damages and injunctive relief. In September 2019, Defendants filed a motion to dismiss. In April 2020, the Court granted Defendants’ motion but granted leave to amend. In June 2020, Plaintiffs filed an amended complaint, and in July 2020, Defendants moved to dismiss the amended complaint. As of October 2020, briefing on Defendants’ motion was complete. In February 2021, the Court granted Defendants’ motion, and granted Plaintiffs leave to amend. In April 2021, Plaintiffs informed the Court that they did not intend to file an amended complaint, and the Court dismissed the case with prejudice. In May 2021, Plaintiffs filed a notice of appeal with the Third Circuit. A lawsuit was brought against the Company in the Superior Court of California for the County of San Diego alleging violations of California’s Consumer Legal Remedies Act (CLRA) relating to JOHNSON’S ® Baby Powder. In that lawsuit, the plaintiffs allege that Johnson & Johnson violated the CLRA by failing to provide required Proposition 65 warnings. In July 2019, the Company filed a notice of removal to the United States District Court for the Southern District of California and plaintiffs filed a second amended complaint shortly thereafter. In October 2019, the Company moved to dismiss the second amended complaint for failure to state a claim upon which relief may be granted. In response to those motions, plaintiffs filed a third amended complaint. In December 2019, the Company moved to dismiss the third amended complaint for failure to state a claim upon which relief may be granted. In April 2020, the Court granted the motion to dismiss but granted leave to amend. In May 2020, plaintiffs filed a Fourth Amended Complaint but indicated that they would be filing a motion for leave to file a fifth amended complaint. Plaintiffs filed a Fifth Amended Complaint in August 2020. The Company moved to dismiss the Fifth Amended Complaint for failure to state a claim upon which relief may be granted. In January 2021, the Court issued an Order and opinion ruling in the Company’s favor and granting the motion to dismiss with prejudice. In February 2021, Plaintiffs filed a Notice of Appeal with the Ninth Circuit. In January 2020, the Abtahi Law Group filed an action under Proposition 65 against Johnson & Johnson and Johnson & Johnson Consumer Inc. as well as a number of other alleged talcum powder manufacturers and distributors, including one California company. In that action, the plaintiff alleges contamination of talcum powder products with unsafe levels of arsenic, hexavalent chromium and lead. The plaintiff seeks civil penalties and injunctive relief. Defendants filed a motion for summary judgment in January 2021, and a hearing on the motion was held in April 2021. In May 2021, the court entered an order granting summary judgment in favor of Defendants. Plaintiff agreed to forego an appeal in exchange for a waiver of costs. In addition, the Company has received preliminary inquiries and subpoenas to produce documents regarding talc matters from Senator Murray, a member of the Senate Committee on Health, Education, Labor and Pensions, the Department of Justice and the U.S. Congressional Subcommittee on Economic and Consumer Policy. The Company produced documents as required in response and will continue to cooperate with government inquiries. Claims for personal injury have been made against a number of Johnson & Johnson companies, including Janssen Pharmaceuticals, Inc. and Johnson & Johnson, arising out of the use of INVOKANA ® , a prescription medication indicated to improve glycemic control in adults with Type 2 diabetes. In December 2016, lawsuits filed in federal courts in the United States were organized as a multi-district litigation in the United States District Court for the District of New Jersey. Cases have also been filed in state courts. Class action lawsuits have been filed in Canada. Product liability lawsuits continue to be filed, and the Company continues to receive information with respect to potential costs and the anticipated number of cases. The Company has settled or otherwise resolved many of the cases and claims in the United States and the costs associated with these settlements are reflected in the Company's accruals. Claims for personal injury have been made against a number of Johnson & Johnson companies, including Janssen Pharmaceuticals, Inc. and Johnson & Johnson, arising out of the use of ELMIRON ® , a prescription medication indicated for the relief of bladder pain or discomfort associated with interstitial cystitis. These lawsuits, which allege that ELMIRON ® contributes to the development of permanent retinal injury and vision loss, have been filed in both state and federal courts across the United States. In December 2020, lawsuits filed in federal courts in the United States, including putative class action cases seeking medical monitoring, were organized as a multi-district litigation in the United States District Court for the District of New Jersey. Cases also have been filed in various state courts. In addition, three class action lawsuits have been filed in Canada. Product liability lawsuits continue to be filed, and the Company continues to receive information with respect to potential costs and the anticipated number of cases. The Company has established accruals for defense costs associated with ELMIRON ® related product liability litigation. INTELLECTUAL PROPERTY Certain subsidiaries of Johnson & Johnson are subject, from time to time, to legal proceedings and claims related to patent, trademark and other intellectual property matters arising out of their businesses. Many of these matters involve challenges to the coverage and/or validity of the patents on various products and allegations that certain of the Company’s products infringe the patents of third parties. Although these subsidiaries believe that they have substantial defenses to these challenges and allegations with respect to all significant patents, there can be no assurance as to the outcome of these matters. A loss in any of these cases could adversely affect the ability of these subsidiaries to sell their products, result in loss of sales due to loss of market exclusivity, require the payment of past damages and future royalties, and may result in a non-cash impairment charge for any associated intangible asset. Significant matters are described below. Medical Devices In December 2016, Dr. Ford Albritton sued Acclarent, Inc. (Acclarent) in United States District Court for the Northern District of Texas alleging that Acclarent’s RELIEVA ® Spin and RELIEVEA SpinPlus ® products infringe U.S. Patent No. 9,011,412. Dr. Albritton also alleges breach of contract, fraud and that he is the true owner of Acclarent’s U.S. Patent No. 8,414,473. Trial is scheduled to begin in October 2021. In November 2017, Board of Regents, The University of Texas System and TissueGen, Inc. (collectively, UT) filed a lawsuit in the United States District Court for the Western District of Texas against Ethicon, Inc. and Ethicon US, LLC (collectively, Ethicon) alleging the manufacture and sale of VICRYL ® Plus Antibacterial Sutures, MONOCRYL ® Plus Antibacterial Sutures, PDS ® Plus Antibacterial Sutures, STRATAFIX ® PDS ® Antibacterial Sutures and STRATAFIX ® MONOCRYL ® Plus Antibacterial Sutures infringe plai

Restructuring

Restructuring	6 Months Ended
	Jul. 04, 2021
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING In the fiscal second quarter of 2018 the Company announced plans to implement a series of actions across its Global Supply Chain that are intended to focus resources and increase investments in the critical capabilities, technologies and solutions necessary to manufacture and supply its product portfolio, enhance agility and drive growth. The Global Supply Chain actions will include expanding the use of strategic collaborations and bolstering initiatives to reduce complexity, improve cost-competitiveness, enhance capabilities and optimize the Supply Chain network. In the fiscal second quarter of 2021, the Company recorded a pre-tax charge of $108 million, which is included on the following lines of the Consolidated Statement of Earnings, $56 million in restructuring, $20 million in cost of products sold and $32 million in other (income) expense, net. In the first fiscal six months of 2021, the Company recorded a pre-tax charge of $212 million, which is included on the following lines of the Consolidated Statement of Earnings, $109 million in restructuring, $47 million in cost of products sold and $56 million in other (income) expense, net. Total project costs of approximately $1.5 billion have been recorded since the restructuring was announced. See the following table for additional details on the restructuring program. In total, the Company expects the Global Supply Chain actions to generate approximately $0.6 billion to $0.8 billion in annual pre-tax cost savings that will be substantially delivered by 2022. The Company expects to record pre-tax restructuring charges of approximately $1.9 billion to $2.3 billion, over the 4 to 5 year period of this activity. These costs are associated with network optimizations, exit costs and accelerated depreciation and amortization. The following table summarizes the severance related reserves and the associated restructuring expenses through the fiscal second quarter of 2021: (Dollars in Millions) Severance Asset Write-offs Other (2) Total Reserve balance, January 3, 2021 $ 135 — 9 144 Current year activity: Charges — 26 186 212 Cash payments (12) — (181) (193) Settled non cash — (26) (26) Reserve balance, July 4, 2021 (1) $ 123 — 14 137 (1) Cash outlays for severance are expected to be substantially paid out over the next 18 months in accordance with the Company's plans and local laws. (2) Other includes project expense such as salaries for employees supporting these initiatives and consulting expenses. The Company continuously reevaluates its severance reserves related to restructuring and the timing of payments due to the planned release of associates regarding several longer-term projects. The Company believes that the existing severance reserves are sufficient to cover the Global Supply Chain plans given the period over which the actions will take place. The Company will continue to assess and make adjustments as necessary if additional amounts become probable and estimable.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 04, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The extent to which COVID-19 impacts the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of COVID-19, the extent to which it will impact worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of July 4, 2021 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, inventory and related reserves, accrued rebates and associated reserves, and the carrying value of the goodwill and other long-lived assets along with the Company’s on-going vaccine development and distribution efforts. While there was not a material impact to the Company’s consolidated financial statements as of and for the quarter ended July 4, 2021, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods.
New Accounting Standards Recently Adopted	New Accounting Standards The Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board on the Company's financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the fiscal year ended January 3, 2021. There were no new material accounting standards issued in the fiscal six months of 2021 that impacted the Company. Recently Adopted Accounting Standards There were no new material accounting standards adopted in the fiscal six months of 2021.
Reclassification	Reclassification Certain prior period amounts have been reclassified to conform to current year presentation.
Cash and Cash Equivalents, Policy	The Company classifies all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months from the date of purchase as current marketable securities. Available for sale securities with stated maturities of greater than one year from the date of purchase are available to fund current operations and are classified as cash equivalents and current marketable securities.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 04, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	(Dollars in Millions) July 4, 2021 January 3, 2021 Raw materials and supplies $ 1,576 1,410 Goods in process 2,307 2,040 Finished goods 6,217 5,894 Total inventories $ 10,100 9,344

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jul. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	(Dollars in Millions) July 4, 2021 January 3, 2021 Intangible assets with definite lives: Patents and trademarks — gross $ 39,815 39,990 Less accumulated amortization (19,009) (17,618) Patents and trademarks — net 20,806 22,372 Customer relationships and other intangibles — gross 22,976 22,898 Less accumulated amortization (11,379) (10,912) Customer relationships and other intangibles — net* 11,597 11,986 Intangible assets with indefinite lives: Trademarks 7,105 7,195 Purchased in-process research and development 10,736 11,849 Total intangible assets with indefinite lives 17,841 19,044 Total intangible assets — net $ 50,244 53,402 *The majority is comprised of customer relationships
Goodwill	Goodwill as of July 4, 2021 was allocated by segment of business as follows: (Dollars in Millions) Consumer Health Pharmaceutical Medical Devices Total Goodwill at January 3, 2021 $ 10,336 11,009 15,048 36,393 Goodwill, related to acquisitions — — — — Goodwill, related to divestitures (7) — — (7) Currency translation/Other (242) (204) (121) (567) Goodwill at July 4, 2021 $ 10,087 10,805 14,927 35,819
Intangible Asset Amortization Expense	The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2021 2022 2023 2024 2025 $4,700 4,500 4,500 4,300 3,600

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 04, 2021
Fair Value Disclosures [Abstract]
Summary of Derivative Activity	The following table is a summary of the activity related to derivatives and hedges for the fiscal second quarters ended in 2021 and 2020, net of tax: July 4, 2021 June 28, 2020 (Dollars in Millions) Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense The effects of fair value, net investment and cash flow hedging: Gain (Loss) on fair value hedging relationship: Interest rate swaps contracts: Hedged items $ — — — (6) — — — — — Derivatives designated as hedging instruments — — — 6 — — — — — Gain (Loss) on net investment hedging relationship: Cross currency interest rate swaps contracts: Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing — — — 40 — — — — 39 — Amount of gain or (loss) recognized in AOCI — — — 40 — — — — 39 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 11 14 104 — 2 (2) (62) 2 — — Amount of gain or (loss) recognized in AOCI (3) (50) 119 — 8 (2) (128) (10) — 22 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 99 — — — 83 — Amount of gain or (loss) recognized in AOCI $ — — — 286 — — — — 100 — The following table is a summary of the activity related to derivatives and hedges for the fiscal six months ended in 2021 and 2020, net of tax: July 4, 2021 June 28, 2020 (Dollars in Millions) Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense Sales Cost of Products Sold R&D Expense Interest (Income) Expense Other (Income) Expense The effects of fair value, net investment and cash flow hedging: Gain (Loss) on fair value hedging relationship: Interest rate swaps contracts: Hedged items $ — — — (6) — — — — — Derivatives designated as hedging instruments — — — 6 — — — — — Gain (Loss) on net investment hedging relationship: Cross currency interest rate swaps contracts: Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing — — — 80 — — — — 79 — Amount of gain or (loss) recognized in AOCI — — — 80 — — — — 79 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 28 48 (9) — 5 7 (235) (108) — (2) Amount of gain or (loss) recognized in AOCI (6) (243) 43 — 25 9 174 (120) — (14) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 191 — — — — 181 — Amount of gain or (loss) recognized in AOCI $ — — — (21) — — — — 725 — The following table is the effect of net investment hedges for the fiscal second quarters ended in 2021 and 2020 Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Debt $ (45) (95) Interest (income) expense — — Cross Currency interest rate swaps $ (70) (186) Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal six months ended in 2021 and 2020 Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Debt $ 164 (48) Interest (income) expense — — Cross Currency interest rate swaps $ 291 641 Interest (income) expense — —
Schedule of Derivative Financial Instruments and Classification on Consolidated Balance Sheet	As of July 4, 2021, and January 3, 2021, the following amounts were recorded on the Consolidated Balance Sheet related to cumulative basis adjustment for fair value hedges Line item in the Consolidated Balance Sheet in which the hedged item is included Carrying Amount of the Hedged Liability Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability (Dollars in Millions) July 4, 2021 January 3, 2021 July 4, 2021 January 3, 2021 Long-term Debt 1,975 — 8 —
Schedule of Effect of Derivatives not Designated as Hedging Instruments	The following table is the effect of derivatives not designated as hedging instruments for the fiscal second quarters 2021 and 2020: Gain/(Loss) Gain/(Loss) (Dollars in Millions) Location of Gain /(Loss) Recognized in Income on Derivative Fiscal Second Quarter Ended Fiscal Six Months Ended Derivatives Not Designated as Hedging Instruments July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Foreign Exchange Contracts Other (income) expense $ (21) (24) (37) 65
Summary of Activity Related to Equity Investments	The following table is a summary of the activity related to equity investments: (Dollars in Millions) January 3, 2021 July 4, 2021 Carrying Value Changes in Fair Value Reflected in Net Income (1) Sales/ Purchases/Other (2) Carrying Value Non Current Other Assets Equity Investments with readily determinable value $ 1,481 171 26 1,678 1,678 Equity Investments without readily determinable value $ 738 22 64 824 824 (1) Recorded in Other Income/Expense (2) Other includes impact of currency
Financial Assets and Liabilities at Fair Value	The Company’s significant financial assets and liabilities measured at fair value as of July 4, 2021 and January 3, 2021 were as follows: July 4, 2021 January 3, 2021 (Dollars in Millions) Level 1 Level 2 Level 3 Total Total (1) Derivatives designated as hedging instruments: Assets: Forward foreign exchange contracts $ — 405 — 405 849 Interest rate contracts (2) — 451 — 451 240 Total — 856 — 856 1,089 Liabilities: Forward foreign exchange contracts — 620 — 620 702 Interest rate contracts (2) — 674 — 674 1,569 Total — 1,294 — 1,294 2,271 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 64 — 64 49 Liabilities: Forward foreign exchange contracts — 58 — 58 38 Other Investments: Equity investments (3) 1,678 — — 1,678 1,481 Debt securities (4) — 13,056 — 13,056 14,042 Other Liabilities Contingent consideration (5) $ — — 593 593 633 Gross to Net Derivative Reconciliation July 4, 2021 January 3, 2021 (Dollars in Millions) Total Gross Assets $ 920 1,138 Credit Support Agreement (CSA) (833) (1,107) Total Net Asset 87 31 Total Gross Liabilities 1,352 2,309 Credit Support Agreement (CSA) (1,327) (2,172) Total Net Liabilities $ 25 137 Summarized information about changes in liabilities for contingent consideration is as follows: July 4, 2021 June 28, 2020 (Dollars in Millions) Beginning Balance $ 633 $ 1,715 Changes in estimated fair value (6) 8 (938) Additions — 106 Payments (48) (87) Ending Balance $ 593 $ 796 (1) 2020 assets and liabilities are all classified as Level 2 with the exception of equity investments of $1,481 million, which are classified as Level 1 and contingent consideration of $633 million, classified as Level 3. (2) Includes cross currency interest rate swaps and interest rate swaps as of July 4, 2021. Includes cross currency interest rate swaps as of January 3, 2021. (3) Classified as non-current other assets. (4) Classified within cash equivalents and current marketable securities. (5) Includes $579 million and $594 million, classified as non-current other liabilities as of July 4, 2021 and January 3, 2021, respectively. Includes $14 million and $39 million classified as current liabilities as of July 4, 2021 and January 3, 2021, respectively. (6) Ongoing fair value adjustment amounts are primarily recorded in Research and Development expense.
Marketable Securities	The Company's cash, cash equivalents and current marketable securities as of July 4, 2021 comprised: (Dollars in Millions) Carrying Amount Unrecognized Gain Unrecognized Loss Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $ 2,313 — — 2,313 2,313 — Non-U.S. sovereign securities (1) 869 — — 869 75 794 U.S. reverse repurchase agreements 2,091 — — 2,091 2,091 — Corporate debt securities (1) 3,230 — — 3,230 2,191 1,039 Money market funds 2,618 — — 2,618 2,618 — Time deposits (1) 1,129 — — 1,129 1,129 — Subtotal 12,250 — — 12,250 10,417 1,833 Unrealized Gain Unrealized Loss U.S. Gov't securities 12,798 — — 12,798 3,890 8,908 Other sovereign securities 1 — — 1 — 1 Corporate debt securities 257 — — 257 25 232 Subtotal available for sale debt (2) $ 13,056 — — 13,056 3,915 9,141 Total cash, cash equivalents and current marketable securities $ 25,306 — — 25,306 14,332 10,974 (1) Held to maturity investments are reported at amortized cost and gains or losses are reported in earnings. (2) Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.
Schedule of Available for Sale Securities Maturities	The contractual maturities of the available for sale securities as of July 4, 2021 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $ 13,043 13,043 Due after one year through five years 13 13 Due after five years through ten years — — Total debt securities $ 13,056 13,056
Financial Liabilities not Measured at Fair Value	Financial Instruments not measured at Fair Value: The following financial liabilities are held at carrying amount on the consolidated balance sheet as of July 4, 2021: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $ 3,173 3,192 Non-Current Debt 6.73% Debentures due 2023 250 288 3.375% Notes due 2023 802 863 2.05% Notes due 2023 499 512 0.650% Notes due 2024 (750MM Euro 1.1870) 888 912 5.50% Notes due 2024 (500 MM GBP 1.3809) 688 801 2.625% Notes due 2025 749 798 0.55% Notes due 2025 997 988 2.45% Notes due 2026 1,994 2,127 2.95% Notes due 2027 997 1,092 0.95% Notes due 2027 1,494 1,471 2.90% Notes due 2028 1,495 1,639 1.150% Notes due 2028 (750MM Euro 1.1870) 884 958 6.95% Notes due 2029 297 419 1.30% Notes due 2030 1,743 1,697 4.95% Debentures due 2033 498 659 4.375% Notes due 2033 855 1,075 1.650% Notes due 2035 (1.5B Euro 1.1870) 1,766 2,033 3.55% Notes due 2036 990 1,156 5.95% Notes due 2037 993 1,456 3.625% Notes due 2037 1,488 1,743 3.40% Notes due 2038 991 1,132 5.85% Debentures due 2038 696 1,018 4.50% Debentures due 2040 540 701 2.10% Notes due 2040 986 942 4.85% Notes due 2041 297 398 4.50% Notes due 2043 496 649 3.70% Notes due 2046 1,975 2,359 3.75% Notes due 2047 992 1,198 3.50% Notes due 2048 743 867 2.25% Notes due 2050 991 932 2.45% Notes due 2060 1,229 1,169 Other 7 6 Total Non-Current Debt $ 30,310 34,058

Pensions and Other Benefit Pl_2

Pensions and Other Benefit Plans (Tables)	6 Months Ended
	Jul. 04, 2021
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans include the following components: Fiscal Second Quarter Ended Fiscal Six Months Ended Retirement Plans Other Benefit Plans Retirement Plans Other Benefit Plans (Dollars in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Service cost $ 327 323 77 72 680 649 154 144 Interest cost 193 237 21 33 386 477 41 66 Expected return on plan assets (647) (608) (2) (1) (1,327) (1,222) (4) (3) Amortization of prior service cost/(credit) (45) 1 (7) (8) (90) 1 (15) (16) Recognized actuarial losses 316 222 37 35 630 445 75 71 Curtailments and settlements — — — — 1 19 — — Net periodic benefit cost $ 144 175 126 131 280 369 251 262

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jul. 04, 2021
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	Components of other comprehensive income (loss) consist of the following: Foreign Gain/(Loss) Employee Gain/(Loss) Total Accumulated Currency On Benefit On Derivatives Other Comprehensive (Dollars in Millions) Translation Securities Plans & Hedges Income (Loss) January 3, 2021 $ (8,938) 1 (6,957) 652 (15,242) Net change 141 (1) 467 (465) 142 July 4, 2021 $ (8,797) — (6,490) 187 (15,100)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 04, 2021
Earnings Per Share [Abstract]
Reconciliation of Basic Net Earnings per Share to Diluted Net Earnings per Share	The following is a reconciliation of basic net earnings per share to diluted net earnings per share: Fiscal Second Quarter Ended Fiscal Six Months Ended (Shares in Millions) July 4, 2021 June 28, 2020 July 4, 2021 June 28, 2020 Basic net earnings per share $ 2.38 1.38 4.74 3.58 Average shares outstanding — basic 2,632.5 2,632.9 2,632.0 2,633.3 Potential shares exercisable under stock option plans 141.9 119.6 126.0 122.6 Less: shares which could be repurchased under treasury stock method (102.8) (87.5) (84.0) (85.4) Convertible debt shares — 0.5 — 0.5 Average shares outstanding — diluted 2,671.6 2,665.5 2,674.0 2,671.0 Diluted net earnings per share $ 2.35 1.36 4.67 3.53

Segments of Business and Geog_2

Segments of Business and Geographic Areas (Tables)	3 Months Ended	6 Months Ended
	Jul. 04, 2021	Jul. 04, 2021
Segment Reporting [Abstract]
Sales By Segment Of Business		SALES BY SEGMENT OF BUSINESS Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, June 28, Percent July 4, June 28, Percent Change Consumer Health OTC U.S. $ 675 627 7.7 % $ 1,274 1,316 (3.2) % International 633 522 21.2 1,208 1,181 2.3 Worldwide 1,307 1,149 13.8 2,482 2,497 (0.6) Skin Health/Beauty U.S. 659 536 23.0 1,293 1,195 8.2 International 511 471 8.4 1,040 929 12.0 Worldwide 1,170 1,007 16.2 2,333 2,124 9.8 Oral Care U.S. 165 170 (3.1) 328 346 (5.2) International 260 227 14.6 514 446 15.3 Worldwide 426 397 7.0 843 792 6.3 Baby Care U.S. 97 96 0.8 193 188 2.4 International 290 260 11.5 583 529 10.2 Worldwide 387 356 8.6 776 717 8.1 Women's Health U.S. 3 3 (3.1) 6 7 (16.0) International 227 199 14.2 446 427 4.5 Worldwide 230 202 13.9 452 434 4.2 Wound Care/Other U.S. 153 126 20.9 268 245 9.3 International 64 59 7.3 125 111 12.1 Worldwide 216 185 16.6 393 356 10.2 TOTAL Consumer Health U.S. 1,751 1,557 12.4 3,362 3,297 2.0 International 1,984 1,739 14.1 3,916 3,624 8.1 Worldwide 3,735 3,296 13.3 7,278 6,921 5.2 PHARMACEUTICAL Immunology U.S. 2,748 2,362 16.4 5,161 4,772 8.2 International 1,483 1,161 27.7 2,984 2,389 24.9 Worldwide 4,231 3,523 20.1 8,145 7,161 13.7 REMICADE ® U.S. 540 593 (9.1) 1,029 1,218 (15.6) U.S. Exports 93 133 (30.0) 150 243 (38.2) International 255 208 22.4 487 464 4.9 Worldwide 888 935 (5.1) 1,665 1,925 (13.5) SIMPONI / SIMPONI ARIA ® U.S. 290 256 12.8 545 528 3.2 International 294 289 1.7 601 547 9.8 Worldwide 584 546 6.9 1,146 1,075 6.6 STELARA ® U.S. 1,496 1,138 31.4 2,827 2,355 20.0 International 778 558 39.2 1,595 1,161 37.3 Worldwide 2,274 1,697 34.0 4,422 3,516 25.8 TREMFYA ® U.S. 325 241 35.0 599 428 40.0 International 155 101 52.3 298 210 41.8 Worldwide 479 342 40.2 897 638 40.6 OTHER IMMUNOLOGY U.S. 5 — * 12 — * International 1 3 (61.3) 3 6 (51.2) Worldwide 7 3 * 15 6 * Infectious Diseases U.S. 444 416 6.8 956 852 12.2 International 585 463 26.3 1,079 946 14.1 Worldwide 1,028 878 17.1 2,035 1,798 13.2 COVID-19 vaccine U.S. 51 — * 151 — * International 113 — * 113 — * Worldwide 164 — * 264 — * EDURANT ® / rilpivirine U.S. 9 10 (9.3) 19 22 (10.9) International 253 246 2.8 486 458 6.0 Worldwide 262 256 2.3 505 480 5.2 PREZISTA ® / PREZCOBIX ® / REZOLSTA ® / SYMTUZA ® U.S. 368 379 (3.2) 748 775 (3.5) International 137 130 5.5 303 314 (3.5) Worldwide 505 510 (1.0) 1,051 1,089 (3.5) OTHER INFECTIOUS DISEASES U.S. 16 25 (36.2) 37 54 (31.3) International 81 87 (6.2) 177 174 1.8 Worldwide 98 113 (13.0) 215 229 (6.1) Neuroscience U.S. 842 778 8.0 1,613 1,526 5.6 International 967 809 19.6 1,916 1,719 11.5 Worldwide 1,808 1,587 13.9 3,529 3,245 8.7 CONCERTA ® / methylphenidate U.S. 35 55 (36.0) 82 107 (23.1) International 127 94 33.7 250 212 17.5 Worldwide 161 149 8.1 332 320 3.9 INVEGA SUSTENNA ® / XEPLION ® / INVEGA TRINZA ® / TREVICTA ® U.S. 645 576 11.9 1,234 1,120 10.2 International 380 303 25.1 756 642 17.7 Worldwide 1,024 879 16.4 1,989 1,762 12.9 RISPERDAL CONSTA ® U.S. 72 74 (3.0) 139 150 (7.5) International 84 79 6.4 173 173 0.4 Worldwide 155 153 1.9 312 323 (3.3) OTHER NEUROSCIENCE U.S. 91 75 20.9 158 150 5.6 International 377 331 13.8 738 691 6.7 Worldwide 468 406 15.1 896 841 6.5 Oncology U.S. 1,462 1,181 23.7 2,839 2,356 20.5 International 2,073 1,609 28.8 4,266 3,448 23.7 Worldwide 3,535 2,791 26.7 7,105 5,804 22.4 DARZALEX ® U.S. 770 492 56.7 1,461 955 53.1 International 663 409 62.1 1,337 883 51.4 Worldwide 1,433 901 59.2 2,798 1,838 52.2 ERLEADA ® U.S. 193 136 41.5 364 255 42.7 International 109 33 * 199 57 * Worldwide 302 170 77.6 563 313 80.0 IMBRUVICA ® U.S. 454 447 1.7 898 879 2.2 International 662 502 31.9 1,342 1,101 21.9 Worldwide 1,116 949 17.7 2,241 1,980 13.2 ZYTIGA ® / abiraterone acetate U.S. 21 87 (75.3) 71 226 (68.5) International 542 480 12.8 1,130 1,032 9.5 Worldwide 563 568 (0.8) 1,201 1,258 (4.5) OTHER ONCOLOGY (1) U.S. 23 20 18.8 44 42 6.3 International 97 185 (47.2) 258 375 (31.0) Worldwide 120 204 (40.9) 302 416 (27.3) Pulmonary Hypertension U.S. 595 545 9.0 1,168 1,031 13.2 International 275 243 13.5 563 503 12.1 Worldwide 870 789 10.4 1,731 1,534 12.9 OPSUMIT ® U.S. 290 256 13.6 562 485 15.9 International 172 150 14.9 351 310 13.1 Worldwide 463 406 14.1 913 795 14.8 UPTRAVI ® U.S. 268 254 6.0 527 466 13.3 International 45 28 54.9 91 66 36.8 Worldwide 313 282 11.0 618 532 16.2 OTHER PULMONARY HYPERTENSION U.S. 36 37 (2.4) 78 81 (3.0) International 59 64 (8.2) 122 126 (3.5) Worldwide 95 101 (6.1) 200 207 (3.3) Cardiovascular / Metabolism / Other U.S. 780 837 (6.9) 1,579 1,643 (3.9) International 346 347 (0.3) 674 701 (3.8) Worldwide 1,126 1,184 (5.0) 2,253 2,344 (3.9) XARELTO ® U.S. 569 559 1.8 1,158 1,086 6.6 International — — — — — — Worldwide 569 559 1.8 1,158 1,086 6.6 INVOKANA ® / INVOKAMET ® U.S. 96 132 (27.0) 183 249 (26.6) International 64 47 33.8 127 105 20.3 Worldwide 160 179 (10.9) 310 354 (12.6) PROCRIT ® / EPREX ® U.S. 59 70 (16.3) 121 146 (17.3) International 69 66 3.7 133 145 (8.2) Worldwide 127 136 (6.6) 254 291 (12.8) OTHER U.S. 57 78 (26.7) 117 163 (27.8) International 214 234 (8.4) 415 451 (8.1) Worldwide 271 312 (13.0) 532 614 (13.3) TOTAL PHARMACEUTICAL U.S. 6,869 6,120 12.2 13,315 12,181 9.3 International 5,730 4,632 23.7 11,483 9,705 18.3 Worldwide 12,599 10,752 17.2 24,798 21,886 13.3 MEDICAL DEVICES Interventional Solutions U.S. 475 255 86.5 909 620 46.7 International 572 335 70.5 1,086 697 55.7 Worldwide 1,046 590 77.4 1,995 1,317 51.5 Orthopaedics U.S. 1,323 869 52.3 2,572 2,119 21.4 International 904 583 55.1 1,768 1,371 29.0 Worldwide 2,227 1,451 53.4 4,340 3,489 24.4 HIPS U.S. 234 137 70.5 444 343 29.6 International 159 88 78.6 305 220 38.3 Worldwide 392 226 73.7 749 563 33.0 KNEES U.S. 210 108 94.3 395 322 22.7 International 140 66 * 272 196 39.2 Worldwide 350 174 * 667 517 28.9 TRAUMA U.S. 447 354 26.0 897 761 17.8 International 263 198 32.7 545 445 22.5 Worldwide 710 553 28.4 1,443 1,207 19.6 SPINE, SPORTS & OTHER U.S. 433 270 60.6 836 693 20.7 International 343 230 49.0 646 510 26.7 Worldwide 776 499 55.3 1,482 1,202 23.2 Surgery U.S. 1,035 490 * 1,933 1,334 44.9 International 1,487 1,060 40.2 2,961 2,317 27.8 Worldwide 2,522 1,551 62.6 4,894 3,651 34.0 ADVANCED U.S. 459 277 65.4 864 658 31.3 International 708 498 42.2 1,421 1,065 33.4 Worldwide 1,168 775 50.5 2,286 1,723 32.6 GENERAL U.S. 576 213 * 1,069 676 58.1 International 779 562 38.5 1,540 1,252 23.0 Worldwide 1,354 775 74.7 2,608 1,928 35.3 Vision U.S. 467 248 88.3 939 687 36.6 International 716 447 60.0 1,389 1,075 29.2 Worldwide 1,183 695 70.1 2,328 1,762 32.1 CONTACT LENSES / OTHER U.S. 352 203 73.3 723 549 31.6 International 517 352 47.0 1,003 819 22.5 Worldwide 868 554 56.7 1,725 1,368 26.1 SURGICAL U.S. 115 45 * 216 138 56.3 International 199 96 * 386 256 50.9 Worldwide 314 141 * 602 394 52.8 TOTAL MEDICAL DEVICES U.S. 3,299 1,862 77.2 6,353 4,760 33.5 International 3,679 2,426 51.6 7,204 5,460 31.9 Worldwide 6,978 4,288 62.7 13,557 10,220 32.7 WORLDWIDE U.S. 11,919 9,539 24.9 23,030 20,238 13.8 International 11,393 8,797 29.5 22,603 18,789 20.3 Worldwide $ 23,312 18,336 27.1 % $ 45,633 39,027 16.9 % *Percentage greater than 100% or not meaningful (1) Inclusive of VELCADE ® which was previously disclosed separately
Operating Profit by Segment of Business	EARNINGS BEFORE PROVISION FOR TAXES BY SEGMENT Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, June 28, Percent July 4, June 28, Percent Consumer Health (1) $ 804 32 * $ 1,592 802 98.5% Pharmaceutical (2) 4,356 4,514 (3.5) 9,579 8,348 14.7 Medical Devices (3) 1,746 (354) * 3,375 1,671 * Segment earnings before provision for taxes 6,906 4,192 64.7 14,546 10,821 34.4 Less: Expense not allocated to segments (4) 244 252 455 372 Worldwide income before tax $ 6,662 3,940 69.1% $ 14,091 10,449 34.9% *Percentage greater than 100% or not meaningful (1) Consumer Health • Includes intangible amortization expense of $0.1 billion in both the fiscal second quarter of 2021 and 2020 and $0.2 billion in both the fiscal six months of 2021 and 2020. • Includes litigation expense of $0.1 billion and $0.6 billion in both the fiscal second quarter and fiscal six months of 2021 and 2020, primarily talc related costs, respectively. (2) Pharmaceutical • Includes divestiture gains of $0.6 billion in the fiscal six months of 2021 related to two brands outside the U.S. • Includes an unrealized gain on securities of $0.2 billion and $0.5 billion in the fiscal second quarter and $0.1 billion and $0.2 billion in the fiscal six months of 2021 and 2020, respectively. • Includes intangible amortization expense of $0.8 billion in both the fiscal second quarter of 2021 and 2020. Includes intangible amortization expense of $1.7 billion and $1.6 billion in the fiscal six months of 2021 and 2020. In fiscal 2020 and 2021, the Company entered into a series of contract manufacturing arrangements for vaccine production with third party contract manufacturing organizations. These arrangements provide the Company with future supplemental commercial capacity for vaccine production and potentially transferable rights to such production if capacity is not required. Amounts paid and contractually obligated to be paid to these contract manufacturing organizations of approximately $1.3 billion are reflected in the prepaid expenses and other, other assets, accrued liabilities and other liabilities accounts in the Company's consolidated balance sheet upon execution of each agreement. Additionally, the Company has entered into certain vaccine development cost sharing arrangements with government related organizations. (3) Medical Devices • Includes a contingent consideration reversal of $1.0 billion in the fiscal second quarter of 2020 related to the timing of certain developmental milestones associated with the Auris Health acquisition. • Includes a restructuring related charge of $0.1 billion in both the fiscal second quarter of 2021 and 2020, respectively. • Includes intangible amortization expense of $0.3 billion and $0.2 billion in the fiscal second quarter and $0.5 billion in both the fiscal six months of 2021 and 2020, respectively. • Includes an unrealized gain on securities of $0.1 billion in both the fiscal second quarter and the fiscal six months of 2021.	EARNINGS BEFORE PROVISION FOR TAXES BY SEGMENT Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, June 28, Percent July 4, June 28, Percent Consumer Health (1) $ 804 32 * $ 1,592 802 98.5% Pharmaceutical (2) 4,356 4,514 (3.5) 9,579 8,348 14.7 Medical Devices (3) 1,746 (354) * 3,375 1,671 * Segment earnings before provision for taxes 6,906 4,192 64.7 14,546 10,821 34.4 Less: Expense not allocated to segments (4) 244 252 455 372 Worldwide income before tax $ 6,662 3,940 69.1% $ 14,091 10,449 34.9% *Percentage greater than 100% or not meaningful (1) Consumer Health • Includes intangible amortization expense of $0.1 billion in both the fiscal second quarter of 2021 and 2020 and $0.2 billion in both the fiscal six months of 2021 and 2020. • Includes litigation expense of $0.1 billion and $0.6 billion in both the fiscal second quarter and fiscal six months of 2021 and 2020, primarily talc related costs, respectively. (2) Pharmaceutical • Includes divestiture gains of $0.6 billion in the fiscal six months of 2021 related to two brands outside the U.S. • Includes an unrealized gain on securities of $0.2 billion and $0.5 billion in the fiscal second quarter and $0.1 billion and $0.2 billion in the fiscal six months of 2021 and 2020, respectively. • Includes intangible amortization expense of $0.8 billion in both the fiscal second quarter of 2021 and 2020. Includes intangible amortization expense of $1.7 billion and $1.6 billion in the fiscal six months of 2021 and 2020. In fiscal 2020 and 2021, the Company entered into a series of contract manufacturing arrangements for vaccine production with third party contract manufacturing organizations. These arrangements provide the Company with future supplemental commercial capacity for vaccine production and potentially transferable rights to such production if capacity is not required. Amounts paid and contractually obligated to be paid to these contract manufacturing organizations of approximately $1.3 billion are reflected in the prepaid expenses and other, other assets, accrued liabilities and other liabilities accounts in the Company's consolidated balance sheet upon execution of each agreement. Additionally, the Company has entered into certain vaccine development cost sharing arrangements with government related organizations. (3) Medical Devices • Includes a contingent consideration reversal of $1.0 billion in the fiscal second quarter of 2020 related to the timing of certain developmental milestones associated with the Auris Health acquisition. • Includes a restructuring related charge of $0.1 billion in both the fiscal second quarter of 2021 and 2020, respectively. • Includes intangible amortization expense of $0.3 billion and $0.2 billion in the fiscal second quarter and $0.5 billion in both the fiscal six months of 2021 and 2020, respectively. • Includes an unrealized gain on securities of $0.1 billion in both the fiscal second quarter and the fiscal six months of 2021.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas		SALES BY GEOGRAPHIC AREA Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 4, 2021 June 28, 2020 Percent July 4, 2021 June 28, 2020 Percent Change United States $ 11,919 9,539 24.9 % $ 23,030 20,238 13.8 % Europe 5,668 4,063 39.5 11,082 8,890 24.7 Western Hemisphere, excluding U.S. 1,367 1,133 20.6 2,791 2,635 5.9 Asia-Pacific, Africa 4,358 3,601 21.0 8,730 7,264 20.2 Total $ 23,312 18,336 27.1 % $ 45,633 39,027 16.9 %

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jul. 04, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve	The following table summarizes the severance related reserves and the associated restructuring expenses through the fiscal second quarter of 2021: (Dollars in Millions) Severance Asset Write-offs Other (2) Total Reserve balance, January 3, 2021 $ 135 — 9 144 Current year activity: Charges — 26 186 212 Cash payments (12) — (181) (193) Settled non cash — (26) (26) Reserve balance, July 4, 2021 (1) $ 123 — 14 137 (1) Cash outlays for severance are expected to be substantially paid out over the next 18 months in accordance with the Company's plans and local laws. (2) Other includes project expense such as salaries for employees supporting these initiatives and consulting expenses.

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 1,576	$ 1,410
Goods in process	2,307	2,040
Finished goods	6,217	5,894
Total inventories	$ 10,100	$ 9,344

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Intangible assets with indefinite lives:
Indefinite-Lived Intangible Assets	$ 17,841	$ 19,044
Total intangible assets - net	50,244	53,402
Trademarks
Intangible assets with indefinite lives:
Indefinite-Lived Intangible Assets	7,105	7,195
Purchased In-Process Research And Development
Intangible assets with indefinite lives:
Indefinite-Lived Intangible Assets	10,736	11,849
Patents And Trademarks
Intangible assets with definite lives:
Finite-Lived Intangible Assets, Gross	39,815	39,990
Less accumulated amortization	(19,009)	(17,618)
Finite-Lived Intangible Assets, Net	20,806	22,372
Customer relationships and other intangible assets
Intangible assets with definite lives:
Finite-Lived Intangible Assets, Gross	22,976	22,898
Less accumulated amortization	(11,379)	(10,912)
Finite-Lived Intangible Assets, Net	$ 11,597	$ 11,986

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Goodwill By Segment (Details) $ in Millions	6 Months Ended
	Jul. 04, 2021USD ($)
Goodwill [Roll Forward]
Goodwill Beginning of Period	$ 36,393
Goodwill, related to acquisitions	0
Goodwill, Written off Related to Sale of Business Unit	(7)
Currency translation/Other	(567)
Goodwill End of Period	35,819
Consumer Health
Goodwill [Roll Forward]
Goodwill Beginning of Period	10,336
Goodwill, related to acquisitions	0
Goodwill, Written off Related to Sale of Business Unit	(7)
Currency translation/Other	(242)
Goodwill End of Period	10,087
PHARMACEUTICAL
Goodwill [Roll Forward]
Goodwill Beginning of Period	11,009
Goodwill, related to acquisitions	0
Goodwill, Written off Related to Sale of Business Unit	0
Currency translation/Other	(204)
Goodwill End of Period	10,805
Medical Devices
Goodwill [Roll Forward]
Goodwill Beginning of Period	15,048
Goodwill, related to acquisitions	0
Goodwill, Written off Related to Sale of Business Unit	0
Currency translation/Other	(121)
Goodwill End of Period	$ 14,927

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense of amortizable intangible assets	$ 1.2	$ 1.1	$ 2.4	$ 2.2
Patents And Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life			12 years
Customer relationships and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life			21 years

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Intangible Asset Amortization Expense (Details) $ in Millions	Jul. 04, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 4,700
2022	4,500
2023	4,500
2024	4,300
2025	$ 3,600

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jul. 04, 2021	Jan. 03, 2021
Derivative [Line Items]
Accumulated other comprehensive income on derivatives, after tax	$ 187
Reclassification of foreign exchange contracts into earnings, period	next 12 months
Maximum length of time for hedge exposure	18 months
Weighted average interest rate on non-current debt	2.98%
Excess of the estimated fair value over the carrying value of debt		$ 5,400
Current Debt	$ 3,173	2,631
Commercial Paper
Derivative [Line Items]
Current Debt	$ 600
Weighted average interest rate	0.05%
Term	2 months
Forward foreign exchange contracts
Derivative [Line Items]
Collateral already posted, aggregate fair value	$ 494
Derivative, notional amount	46,200	37,800
Cross currency interest rate swaps
Derivative [Line Items]
Derivative, notional amount	34,800	$ 30,600
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	2,000
Equity Securities
Derivative [Line Items]
Changes in Fair Value Reflected in Net Income	37
Equity Investments without readily determinable value | Equity Securities
Derivative [Line Items]
Equity, fair value adjustment, impairment loss	(15)
Changes in Fair Value Reflected in Net Income	$ 22

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Derivative Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	$ 0	$ 0	$ 0	$ 0
Cross currency interest rate swaps | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Fair Value Hedging | Cross currency interest rate swaps | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			80	79
Amount of gain or (loss) recognized in AOCI			80	79
Fair Value Hedging | Interest Rate Swap | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	(6)		(6)
Amount of gain or (loss) recognized in AOCI	6		6
Net Investment Hedging [Member] | Net Investment Hedging [Member] | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging [Member] | Net Investment Hedging [Member] | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging [Member] | Net Investment Hedging [Member] | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging [Member] | Net Investment Hedging [Member] | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging [Member] | Net Investment Hedging [Member] | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	40	39
Amount of gain or (loss) recognized in AOCI	40	39
Cash Flow Hedging | Forward foreign exchange contracts | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	(3)	(2)	(6)	9
Amount of gain or (loss) reclassified from AOCI into income	11	(2)	28	7
Cash Flow Hedging | Forward foreign exchange contracts | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	(50)	(128)	(243)	174
Amount of gain or (loss) reclassified from AOCI into income	14	(62)	48	(235)
Cash Flow Hedging | Forward foreign exchange contracts | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	119	(10)	43	(120)
Amount of gain or (loss) reclassified from AOCI into income	104	2	(9)	(108)
Cash Flow Hedging | Forward foreign exchange contracts | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	8	22	25	(14)
Amount of gain or (loss) reclassified from AOCI into income	2	0	5	(2)
Cash Flow Hedging | Forward foreign exchange contracts | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0		0	0
Cash Flow Hedging | Cross currency interest rate swaps | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	286	100	(21)	725
Amount of gain or (loss) reclassified from AOCI into income	$ 99	$ 83	$ 191	$ 181

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives, Balance Sheet Location (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Derivative [Line Items]
Carrying Amount of the Hedged Liability	$ 1,352	$ 2,309
Long-term Debt | Designated as Hedging Instrument
Derivative [Line Items]
Carrying Amount of the Hedged Liability	1,975	0
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability	$ 8	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Effect of Derivatives not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Not Designated as Hedging Instrument | Forward foreign exchange contracts | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Income on Derivative	$ (21)	$ (24)	$ (37)	$ 65

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Effect of Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	$ (45)	$ (95)	$ 164	$ (48)
Other Income Expense Net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cross Currency Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	(70)	(186)	291	641
Cross Currency Interest Rate Contract | Other Income Expense Net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Activity Related to Equity Investments (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2021	Jan. 03, 2021
Equity Investment [Roll Forward]
Non Current Other Assets	$ 7,172	$ 6,562
Equity Securities
Equity Investment [Roll Forward]
Changes in Fair Value Reflected in Net Income	37
Equity Securities | Equity Investments with readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period	1,481
Changes in Fair Value Reflected in Net Income	171
Sales/ Purchases/Other	26
Carrying value, end of period	1,678
Non Current Other Assets	1,678
Equity Securities | Equity Investments without readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period	738
Changes in Fair Value Reflected in Net Income	22
Sales/ Purchases/Other	64
Carrying value, end of period	824
Non Current Other Assets	$ 824

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	$ 856
Derivatives designated as hedging instruments : Liabilities	1,294
Available-for-sale Securities, Equity Securities	1,678		$ 1,481
Available-for-sale Securities	13,056		14,042
Contingent consideration	593		633
Total Gross Assets	920		1,138
Credit Support Agreement (CSA)	(833)		(1,107)
Total Net Asset	87		31
Total Gross Liabilities	1,352		2,309
Credit Support Agreement (CSA)	(1,327)		(2,172)
Total Net Liabilities	25		137
Beginning Balance	633	$ 1,715	1,715
Changes in estimated fair value (6)	8	(938)
Additions	0	106
Payments	(48)	(87)
Ending Balance	593	796	633
Contingent consideration reversal	0	$ (983)
Quoted prices in active markets for identical assets and liabilities Level 1
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	0
Derivatives designated as hedging instruments : Liabilities	0
Available-for-sale Securities, Equity Securities	1,678		1,481
Available-for-sale Securities	0
Contingent consideration	0
Significant other observable inputs Level 2
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	856		1,089
Derivatives designated as hedging instruments : Liabilities	1,294		2,271
Available-for-sale Securities, Equity Securities	0
Available-for-sale Securities	13,056
Contingent consideration	0
Significant unobservable inputs Level 3
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	0
Derivatives designated as hedging instruments : Liabilities	0
Available-for-sale Securities, Equity Securities	0
Available-for-sale Securities	0
Contingent consideration	593		633
Interest Rate Contract
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	451
Derivatives designated as hedging instruments : Liabilities	674
Interest Rate Contract | Quoted prices in active markets for identical assets and liabilities Level 1
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	0
Derivatives designated as hedging instruments : Liabilities	0
Interest Rate Contract | Significant other observable inputs Level 2
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	451		240
Derivatives designated as hedging instruments : Liabilities	674		1,569
Interest Rate Contract | Significant unobservable inputs Level 3
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	0
Derivatives designated as hedging instruments : Liabilities	0
Forward foreign exchange contracts
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	405
Derivatives designated as hedging instruments : Liabilities	620
Derivatives not designated as hedging instruments : Assets	64
Derivatives not designated as hedging instruments : Liabilities	58
Forward foreign exchange contracts | Quoted prices in active markets for identical assets and liabilities Level 1
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	0
Derivatives designated as hedging instruments : Liabilities	0
Derivatives not designated as hedging instruments : Assets	0
Derivatives not designated as hedging instruments : Liabilities	0
Forward foreign exchange contracts | Significant other observable inputs Level 2
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	405		849
Derivatives designated as hedging instruments : Liabilities	620		702
Derivatives not designated as hedging instruments : Assets	64		49
Derivatives not designated as hedging instruments : Liabilities	58		38
Forward foreign exchange contracts | Significant unobservable inputs Level 3
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	0
Derivatives designated as hedging instruments : Liabilities	0
Derivatives not designated as hedging instruments : Assets	0
Derivatives not designated as hedging instruments : Liabilities	0
Auris Health
Financial assets and liabilities at fair value
Contingent consideration reversal			(983)
Other Noncurrent Liabilities | Auris Health
Financial assets and liabilities at fair value
Contingent consideration	579		594
Other Current Liabilities
Financial assets and liabilities at fair value
Contingent consideration	$ 14		$ 39

Fair Value Measurements - Cash,

Fair Value Measurements - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Estimated Fair Value	$ 13,056	$ 14,042
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	14,332	13,985
Marketable securities	10,974	$ 11,200
Total cash, cash equivalents and current marketable securities, Carrying Amount	25,306
Total cash, cash equivalents and current marketable securities, Unrecognized Gain	0
Total cash, cash equivalents and current marketable securities, Unrecognized Loss	0
Total cash, cash equivalents and current marketable securities, Estimated Fair Value	25,306
Held-to-maturity Securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	12,250
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	12,250
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	10,417
Marketable securities	1,833
Held-to-maturity Securities | Cash
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	2,313
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	2,313
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2,313
Marketable securities	0
Held-to-maturity Securities | Non-U.S. sovereign securities(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	869
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	869
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	75
Marketable securities	794
Held-to-maturity Securities | U.S. reverse repurchase agreements
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	2,091
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	2,091
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2,091
Marketable securities	0
Held-to-maturity Securities | Corporate debt securities(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,230
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	3,230
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2,191
Marketable securities	1,039
Held-to-maturity Securities | Money market funds
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	2,618
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	2,618
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2,618
Marketable securities	0
Held-to-maturity Securities | Time deposits(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	1,129
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	1,129
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	1,129
Marketable securities	0
Available-for-sale Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	13,056
Available-for-sale Securities, Unrecognized Gain	0
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	13,056
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,915
Marketable securities	9,141
Available-for-sale Securities | Non-U.S. sovereign securities(1)
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	1
Available-for-sale Securities, Unrecognized Gain	0
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	1
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	0
Marketable securities	1
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	257
Available-for-sale Securities, Unrecognized Gain	0
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	257
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	25
Marketable securities	232
Available-for-sale Securities | U.S. Gov't securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	12,798
Available-for-sale Securities, Unrecognized Gain	0
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	12,798
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,890
Marketable securities	$ 8,908

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Available for Sale Securities Maturities (Details) $ in Millions	Jul. 04, 2021USD ($)
Cost Basis
Due within one year	$ 13,043
Due after one year through five years	13
Due after five years through ten years	0
Total debt securities	13,056
Fair Value
Due within one year	13,043
Due after one year through five years	13
Due after five years through ten years	0
Total debt securities	$ 13,056

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Liabilities not Measured at Fair Value (Details) - USD ($) $ in Millions	Jul. 04, 2021	Jan. 03, 2021
Financial Liabilities
Current Debt	$ 3,173	$ 2,631
Non-Current Debt
Non-Current Debt	30,310	$ 32,635
Carrying Amount
Financial Liabilities
Current Debt	3,173
Non-Current Debt
Non-Current Debt	30,310
Estimated Fair Value
Financial Liabilities
Current Debt	3,192
Non-Current Debt
Non-Current Debt	$ 34,058
6.73% Debentures due 2023
Non-Current Debt
Stated interest rate (as a percent)	6.73%
6.73% Debentures due 2023 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 250
6.73% Debentures due 2023 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 288
3.375% Notes due 2023
Non-Current Debt
Stated interest rate (as a percent)	3.375%
3.375% Notes due 2023 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 802
3.375% Notes due 2023 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 863
2.05% Notes due 2023
Non-Current Debt
Stated interest rate (as a percent)	2.05%
2.05% Notes due 2023 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 499
2.05% Notes due 2023 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 512
0.650% Notes due 2024 (750MM Euro 1.1870)
Non-Current Debt
Stated interest rate (as a percent)	0.65%
0.650% Notes due 2024 (750MM Euro 1.1870) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 888
0.650% Notes due 2024 (750MM Euro 1.1870) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 912
5.50% Notes due 2024 (500 MM GBP 1.3809)
Non-Current Debt
Stated interest rate (as a percent)	5.50%
5.50% Notes due 2024 (500 MM GBP 1.3809) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 688
5.50% Notes due 2024 (500 MM GBP 1.3809) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 801
2.625% Notes due 2025
Non-Current Debt
Stated interest rate (as a percent)	2.625%
2.625% Notes due 2025 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 749
2.625% Notes due 2025 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 798
0.55% Notes due 2025
Non-Current Debt
Stated interest rate (as a percent)	0.55%
0.55% Notes due 2025 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 997
0.55% Notes due 2025 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 988
2.45% Notes due 2026
Non-Current Debt
Stated interest rate (as a percent)	2.45%
2.45% Notes due 2026 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,994
2.45% Notes due 2026 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 2,127
2.95% Notes due 2027
Non-Current Debt
Stated interest rate (as a percent)	2.95%
2.95% Notes due 2027 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 997
2.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,092
0.95% Notes due 2027
Non-Current Debt
Stated interest rate (as a percent)	0.95%
0.95% Notes due 2027 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,494
0.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,471
2.90% Notes due 2028
Non-Current Debt
Stated interest rate (as a percent)	2.90%
2.90% Notes due 2028 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,495
2.90% Notes due 2028 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,639
1.150% Notes due 2028 (750MM Euro 1.1870)
Non-Current Debt
Stated interest rate (as a percent)	1.15%
1.150% Notes due 2028 (750MM Euro 1.1870) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 884
1.150% Notes due 2028 (750MM Euro 1.1870) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 958
6.95% Notes due 2029
Non-Current Debt
Stated interest rate (as a percent)	6.95%
6.95% Notes due 2029 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 297
6.95% Notes due 2029 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 419
1.30% Notes due 2030
Non-Current Debt
Stated interest rate (as a percent)	1.30%
1.30% Notes due 2030 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,743
1.30% Notes due 2030 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,697
4.95% Debentures due 2033
Non-Current Debt
Stated interest rate (as a percent)	4.95%
4.95% Debentures due 2033 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 498
4.95% Debentures due 2033 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 659
4.375% Notes due 2033
Non-Current Debt
Stated interest rate (as a percent)	4.375%
4.375% Notes due 2033 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 855
4.375% Notes due 2033 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,075
1.650% Notes due 2035 (1.5B Euro 1.1870)
Non-Current Debt
Stated interest rate (as a percent)	1.65%
1.650% Notes due 2035 (1.5B Euro 1.1870) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,766
1.650% Notes due 2035 (1.5B Euro 1.1870) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 2,033
3.55% Notes due 2036
Non-Current Debt
Stated interest rate (as a percent)	3.55%
3.55% Notes due 2036 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 990
3.55% Notes due 2036 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,156
5.95% Notes due 2037
Non-Current Debt
Stated interest rate (as a percent)	5.95%
5.95% Notes due 2037 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 993
5.95% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,456
3.625% Notes due 2037
Non-Current Debt
Stated interest rate (as a percent)	3.625%
3.625% Notes due 2037 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,488
3.625% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,743
3.40% Notes due 2038
Non-Current Debt
Stated interest rate (as a percent)	3.40%
3.40% Notes due 2038 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 991
3.40% Notes due 2038 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,132
5.85% Debentures due 2038
Non-Current Debt
Stated interest rate (as a percent)	5.85%
5.85% Debentures due 2038 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 696
5.85% Debentures due 2038 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,018
4.50% Debentures due 2040
Non-Current Debt
Stated interest rate (as a percent)	4.50%
4.50% Debentures due 2040 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 540
4.50% Debentures due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 701
2.10% Notes due 2040
Non-Current Debt
Stated interest rate (as a percent)	2.10%
2.10% Notes due 2040 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 986
2.10% Notes due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 942
4.85% Notes due 2041
Non-Current Debt
Stated interest rate (as a percent)	4.85%
4.85% Notes due 2041 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 297
4.85% Notes due 2041 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 398
4.50% Notes due 2043
Non-Current Debt
Stated interest rate (as a percent)	4.50%
4.50% Notes due 2043 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 496
4.50% Notes due 2043 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 649
3.70% Notes due 2046
Non-Current Debt
Stated interest rate (as a percent)	3.70%
3.70% Notes due 2046 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,975
3.70% Notes due 2046 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 2,359
3.75% Notes due 2047
Non-Current Debt
Stated interest rate (as a percent)	3.75%
3.75% Notes due 2047 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 992
3.75% Notes due 2047 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,198
3.50% Notes due 2048
Non-Current Debt
Stated interest rate (as a percent)	3.50%
3.50% Notes due 2048 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 743
3.50% Notes due 2048 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 867
2.25% Notes due 2050
Non-Current Debt
Stated interest rate (as a percent)	2.25%
2.25% Notes due 2050 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 991
2.25% Notes due 2050 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 932
2.45% Notes due 2060
Non-Current Debt
Stated interest rate (as a percent)	2.45%
2.45% Notes due 2060 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,229
2.45% Notes due 2060 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	1,169
Other | Carrying Amount
Non-Current Debt
Non-Current Debt	7
Other | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Mar. 29, 2020	Jul. 04, 2021	Jun. 28, 2020
Income Tax (Textuals)
Worldwide effective income tax rate (as a percent)			11.50%	9.80%
Deferred tax benefits related to tax basis increase of certain assets due to reorganization	$ 2.3		$ 2.3
Increase in U.S. GILTI deferred tax liability	1.7	$ 0.2
Deferred tax benefit, net	0.6		$ 0.6
Increase (decrease) in effective income tax rate, percent			(4.40%)	1.00%
Deferred tax benefit related to TRAF		$ 0.3		$ 0.4
Deferred tax benefit related to TRAF, percent				3.80%
Unrecognized tax benefits	$ 3.3		$ 3.3
Auris Health
Income Tax (Textuals)
Increase (decrease) in effective income tax rate, percent				1.00%

Pensions and Other Benefit Pl_3

Pensions and Other Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Retirement Plans
Components of net periodic benefit cost
Service cost	$ 327	$ 323	$ 680	$ 649
Interest cost	193	237	386	477
Expected return on plan assets	(647)	(608)	(1,327)	(1,222)
Amortization of prior service cost/(credit)	(45)	1	(90)	1
Recognized actuarial losses	316	222	630	445
Curtailments and settlements	0	0	1	19
Net periodic benefit cost	144	175	280	369
Other Benefit Plans
Components of net periodic benefit cost
Service cost	77	72	154	144
Interest cost	21	33	41	66
Expected return on plan assets	(2)	(1)	(4)	(3)
Amortization of prior service cost/(credit)	(7)	(8)	(15)	(16)
Recognized actuarial losses	37	35	75	71
Curtailments and settlements	0	0	0	0
Net periodic benefit cost	$ 126	$ 131	$ 251	$ 262

Pensions and Other Benefit Pl_4

Pensions and Other Benefit Plans (Details) $ in Millions	6 Months Ended
	Jul. 04, 2021USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 46
International retirement plans
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 222

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 65,834	$ 61,294	$ 63,278	$ 59,471
Net change	228	710	142	358
Ending Balance	69,580	62,978	69,580	62,978
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			(8,938)
Net change			141
Ending Balance	(8,797)		(8,797)
Accumulated Net Investment Gain (Loss) Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			1
Net change			(1)
Ending Balance	0		0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			(6,957)
Net change			467
Ending Balance	(6,490)		(6,490)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			652
Net change			(465)
Ending Balance	187		187
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(15,328)	(16,243)	(15,242)	(15,891)
Net change	228	710	142	358
Ending Balance	$ (15,100)	$ (15,533)	$ (15,100)	$ (15,533)

Earnings Per Share (Details)

Earnings Per Share (Details) - $ / shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Reconciliation of basic net earnings per share to diluted net earnings per share
Basic net earnings per share	$ 2.38	$ 1.38	$ 4.74	$ 3.58
Average shares outstanding — basic	2,632.5	2,632.9	2,632	2,633.3
Potential shares exercisable under stock option plans	141.9	119.6	126	122.6
Less: shares which could be repurchased under treasury stock method	(102.8)	(87.5)	(84)	(85.4)
Convertible debt shares	0	0.5	0	0.5
Average shares outstanding — diluted	2,671.6	2,665.5	2,674	2,671
Diluted net earnings per share	$ 2.35	$ 1.36	$ 4.67	$ 3.53
Antidilutive securities excluded from computation of earnings per share, amount		20	14	15

Segments of Business and Geog_3

Segments of Business and Geographic Areas - Sales By Segment Of Business (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Sales by segment of business
Sales to customers	$ 23,312	$ 18,336	$ 45,633	$ 39,027
Percent Change (as a percent)	27.10%		16.90%
U.S.
Sales by segment of business
Sales to customers	$ 11,919	9,539	$ 23,030	20,238
Percent Change (as a percent)	24.90%		13.80%
International
Sales by segment of business
Sales to customers	$ 11,393	8,797	$ 22,603	18,789
Percent Change (as a percent)	29.50%		20.30%
Consumer Health
Sales by segment of business
Sales to customers	$ 3,735	3,296	$ 7,278	6,921
Percent Change (as a percent)	13.30%		5.20%
Consumer Health | U.S.
Sales by segment of business
Sales to customers	$ 1,751	1,557	$ 3,362	3,297
Percent Change (as a percent)	12.40%		2.00%
Consumer Health | International
Sales by segment of business
Sales to customers	$ 1,984	1,739	$ 3,916	3,624
Percent Change (as a percent)	14.10%		8.10%
Consumer Health | OTC
Sales by segment of business
Sales to customers	$ 1,307	1,149	$ 2,482	2,497
Percent Change (as a percent)	13.80%		(0.60%)
Consumer Health | OTC | U.S.
Sales by segment of business
Sales to customers	$ 675	627	$ 1,274	1,316
Percent Change (as a percent)	7.70%		(3.20%)
Consumer Health | OTC | International
Sales by segment of business
Sales to customers	$ 633	522	$ 1,208	1,181
Percent Change (as a percent)	21.20%		2.30%
Consumer Health | Skin Health/Beauty
Sales by segment of business
Sales to customers	$ 1,170	1,007	$ 2,333	2,124
Percent Change (as a percent)	16.20%		9.80%
Consumer Health | Skin Health/Beauty | U.S.
Sales by segment of business
Sales to customers	$ 659	536	$ 1,293	1,195
Percent Change (as a percent)	23.00%		8.20%
Consumer Health | Skin Health/Beauty | International
Sales by segment of business
Sales to customers	$ 511	471	$ 1,040	929
Percent Change (as a percent)	8.40%		12.00%
Consumer Health | Oral Care
Sales by segment of business
Sales to customers	$ 426	397	$ 843	792
Percent Change (as a percent)	7.00%		6.30%
Consumer Health | Oral Care | U.S.
Sales by segment of business
Sales to customers	$ 165	170	$ 328	346
Percent Change (as a percent)	(3.10%)		(5.20%)
Consumer Health | Oral Care | International
Sales by segment of business
Sales to customers	$ 260	227	$ 514	446
Percent Change (as a percent)	14.60%		15.30%
Consumer Health | Baby Care
Sales by segment of business
Sales to customers	$ 387	356	$ 776	717
Percent Change (as a percent)	8.60%		8.10%
Consumer Health | Baby Care | U.S.
Sales by segment of business
Sales to customers	$ 97	96	$ 193	188
Percent Change (as a percent)	0.80%		2.40%
Consumer Health | Baby Care | International
Sales by segment of business
Sales to customers	$ 290	260	$ 583	529
Percent Change (as a percent)	11.50%		10.20%
Consumer Health | Women's Health
Sales by segment of business
Sales to customers	$ 230	202	$ 452	434
Percent Change (as a percent)	13.90%		4.20%
Consumer Health | Women's Health | U.S.
Sales by segment of business
Sales to customers	$ 3	3	$ 6	7
Percent Change (as a percent)	(3.10%)		(16.00%)
Consumer Health | Women's Health | International
Sales by segment of business
Sales to customers	$ 227	199	$ 446	427
Percent Change (as a percent)	14.20%		4.50%
Consumer Health | Wound Care/Other
Sales by segment of business
Sales to customers	$ 216	185	$ 393	356
Percent Change (as a percent)	16.60%		10.20%
Consumer Health | Wound Care/Other | U.S.
Sales by segment of business
Sales to customers	$ 153	126	$ 268	245
Percent Change (as a percent)	20.90%		9.30%
Consumer Health | Wound Care/Other | International
Sales by segment of business
Sales to customers	$ 64	59	$ 125	111
Percent Change (as a percent)	7.30%		12.10%
PHARMACEUTICAL
Sales by segment of business
Sales to customers	$ 12,599	10,752	$ 24,798	21,886
Percent Change (as a percent)	17.20%		13.30%
PHARMACEUTICAL | U.S.
Sales by segment of business
Sales to customers	$ 6,869	6,120	$ 13,315	12,181
Percent Change (as a percent)	12.20%		9.30%
PHARMACEUTICAL | International
Sales by segment of business
Sales to customers	$ 5,730	4,632	$ 11,483	9,705
Percent Change (as a percent)	23.70%		18.30%
PHARMACEUTICAL | Immunology
Sales by segment of business
Sales to customers	$ 4,231	3,523	$ 8,145	7,161
Percent Change (as a percent)	20.10%		13.70%
PHARMACEUTICAL | Immunology | U.S.
Sales by segment of business
Sales to customers	$ 2,748	2,362	$ 5,161	4,772
Percent Change (as a percent)	16.40%		8.20%
PHARMACEUTICAL | Immunology | International
Sales by segment of business
Sales to customers	$ 1,483	1,161	$ 2,984	2,389
Percent Change (as a percent)	27.70%		24.90%
PHARMACEUTICAL | Immunology | REMICADE®
Sales by segment of business
Sales to customers	$ 888	935	$ 1,665	1,925
Percent Change (as a percent)	(5.10%)		(13.50%)
PHARMACEUTICAL | Immunology | REMICADE® | U.S.
Sales by segment of business
Sales to customers	$ 540	593	$ 1,029	1,218
Percent Change (as a percent)	(9.10%)		(15.60%)
PHARMACEUTICAL | Immunology | REMICADE® | U.S. Exports
Sales by segment of business
Sales to customers	$ 93	133	$ 150	243
Percent Change (as a percent)	(30.00%)		(38.20%)
PHARMACEUTICAL | Immunology | REMICADE® | International
Sales by segment of business
Sales to customers	$ 255	208	$ 487	464
Percent Change (as a percent)	22.40%		4.90%
PHARMACEUTICAL | Immunology | SIMPONI / SIMPONI ARIA®
Sales by segment of business
Sales to customers	$ 584	546	$ 1,146	1,075
Percent Change (as a percent)	6.90%		6.60%
PHARMACEUTICAL | Immunology | SIMPONI / SIMPONI ARIA® | U.S.
Sales by segment of business
Sales to customers	$ 290	256	$ 545	528
Percent Change (as a percent)	12.80%		3.20%
PHARMACEUTICAL | Immunology | SIMPONI / SIMPONI ARIA® | International
Sales by segment of business
Sales to customers	$ 294	289	$ 601	547
Percent Change (as a percent)	1.70%		9.80%
PHARMACEUTICAL | Immunology | STELARA®
Sales by segment of business
Sales to customers	$ 2,274	1,697	$ 4,422	3,516
Percent Change (as a percent)	34.00%		25.80%
PHARMACEUTICAL | Immunology | STELARA® | U.S.
Sales by segment of business
Sales to customers	$ 1,496	1,138	$ 2,827	2,355
Percent Change (as a percent)	31.40%		20.00%
PHARMACEUTICAL | Immunology | STELARA® | International
Sales by segment of business
Sales to customers	$ 778	558	$ 1,595	1,161
Percent Change (as a percent)	39.20%		37.30%
PHARMACEUTICAL | Immunology | TREMFYA®
Sales by segment of business
Sales to customers	$ 479	342	$ 897	638
Percent Change (as a percent)	40.20%		40.60%
PHARMACEUTICAL | Immunology | TREMFYA® | U.S.
Sales by segment of business
Sales to customers	$ 325	241	$ 599	428
Percent Change (as a percent)	35.00%		40.00%
PHARMACEUTICAL | Immunology | TREMFYA® | International
Sales by segment of business
Sales to customers	$ 155	101	$ 298	210
Percent Change (as a percent)	52.30%		41.80%
PHARMACEUTICAL | Immunology | OTHER IMMUNOLOGY
Sales by segment of business
Sales to customers	$ 7	3	$ 15	6
PHARMACEUTICAL | Immunology | OTHER IMMUNOLOGY | U.S.
Sales by segment of business
Sales to customers	5	0	12	0
PHARMACEUTICAL | Immunology | OTHER IMMUNOLOGY | International
Sales by segment of business
Sales to customers	$ 1	3	$ 3	6
Percent Change (as a percent)	(61.30%)		(51.20%)
PHARMACEUTICAL | Infectious Diseases
Sales by segment of business
Sales to customers	$ 1,028	878	$ 2,035	1,798
Percent Change (as a percent)	17.10%		13.20%
PHARMACEUTICAL | Infectious Diseases | U.S.
Sales by segment of business
Sales to customers	$ 444	416	$ 956	852
Percent Change (as a percent)	6.80%		12.20%
PHARMACEUTICAL | Infectious Diseases | International
Sales by segment of business
Sales to customers	$ 585	463	$ 1,079	946
Percent Change (as a percent)	26.30%		14.10%
PHARMACEUTICAL | Infectious Diseases | COVID-19
Sales by segment of business
Sales to customers	$ 164	0	$ 264	0
PHARMACEUTICAL | Infectious Diseases | COVID-19 | U.S.
Sales by segment of business
Sales to customers	51	0	151	0
PHARMACEUTICAL | Infectious Diseases | COVID-19 | International
Sales by segment of business
Sales to customers	113	0	113	0
PHARMACEUTICAL | Infectious Diseases | EDURANT® / rilpivirine
Sales by segment of business
Sales to customers	$ 262	256	$ 505	480
Percent Change (as a percent)	2.30%		5.20%
PHARMACEUTICAL | Infectious Diseases | EDURANT® / rilpivirine | U.S.
Sales by segment of business
Sales to customers	$ 9	10	$ 19	22
Percent Change (as a percent)	(9.30%)		(10.90%)
PHARMACEUTICAL | Infectious Diseases | EDURANT® / rilpivirine | International
Sales by segment of business
Sales to customers	$ 253	246	$ 486	458
Percent Change (as a percent)	2.80%		6.00%
PHARMACEUTICAL | Infectious Diseases | PREZISTA® / PREZCOBIX® / REZOLSTA® / SYMTUZA®
Sales by segment of business
Sales to customers	$ 505	510	$ 1,051	1,089
Percent Change (as a percent)	(1.00%)		(3.50%)
PHARMACEUTICAL | Infectious Diseases | PREZISTA® / PREZCOBIX® / REZOLSTA® / SYMTUZA® | U.S.
Sales by segment of business
Sales to customers	$ 368	379	$ 748	775
Percent Change (as a percent)	(3.20%)		(3.50%)
PHARMACEUTICAL | Infectious Diseases | PREZISTA® / PREZCOBIX® / REZOLSTA® / SYMTUZA® | International
Sales by segment of business
Sales to customers	$ 137	130	$ 303	314
Percent Change (as a percent)	5.50%		(3.50%)
PHARMACEUTICAL | Infectious Diseases | OTHER INFECTIOUS DISEASES
Sales by segment of business
Sales to customers	$ 98	113	$ 215	229
Percent Change (as a percent)	(13.00%)		(6.10%)
PHARMACEUTICAL | Infectious Diseases | OTHER INFECTIOUS DISEASES | U.S.
Sales by segment of business
Sales to customers	$ 16	25	$ 37	54
Percent Change (as a percent)	(36.20%)		(31.30%)
PHARMACEUTICAL | Infectious Diseases | OTHER INFECTIOUS DISEASES | International
Sales by segment of business
Sales to customers	$ 81	87	$ 177	174
Percent Change (as a percent)	(6.20%)		1.80%
PHARMACEUTICAL | Neuroscience
Sales by segment of business
Sales to customers	$ 1,808	1,587	$ 3,529	3,245
Percent Change (as a percent)	13.90%		8.70%
PHARMACEUTICAL | Neuroscience | U.S.
Sales by segment of business
Sales to customers	$ 842	778	$ 1,613	1,526
Percent Change (as a percent)	8.00%		5.60%
PHARMACEUTICAL | Neuroscience | International
Sales by segment of business
Sales to customers	$ 967	809	$ 1,916	1,719
Percent Change (as a percent)	19.60%		11.50%
PHARMACEUTICAL | Neuroscience | CONCERTA® / methylphenidate
Sales by segment of business
Sales to customers	$ 161	149	$ 332	320
Percent Change (as a percent)	8.10%		3.90%
PHARMACEUTICAL | Neuroscience | CONCERTA® / methylphenidate | U.S.
Sales by segment of business
Sales to customers	$ 35	55	$ 82	107
Percent Change (as a percent)	(36.00%)		(23.10%)
PHARMACEUTICAL | Neuroscience | CONCERTA® / methylphenidate | International
Sales by segment of business
Sales to customers	$ 127	94	$ 250	212
Percent Change (as a percent)	33.70%		17.50%
PHARMACEUTICAL | Neuroscience | INVEGA SUSTENNA® / XEPLION® / INVEGA TRINZA® / TREVICTA®
Sales by segment of business
Sales to customers	$ 1,024	879	$ 1,989	1,762
Percent Change (as a percent)	16.40%		12.90%
PHARMACEUTICAL | Neuroscience | INVEGA SUSTENNA® / XEPLION® / INVEGA TRINZA® / TREVICTA® | U.S.
Sales by segment of business
Sales to customers	$ 645	576	$ 1,234	1,120
Percent Change (as a percent)	11.90%		10.20%
PHARMACEUTICAL | Neuroscience | INVEGA SUSTENNA® / XEPLION® / INVEGA TRINZA® / TREVICTA® | International
Sales by segment of business
Sales to customers	$ 380	303	$ 756	642
Percent Change (as a percent)	25.10%		17.70%
PHARMACEUTICAL | Neuroscience | RISPERDAL CONSTA®
Sales by segment of business
Sales to customers	$ 155	153	$ 312	323
Percent Change (as a percent)	1.90%		(3.30%)
PHARMACEUTICAL | Neuroscience | RISPERDAL CONSTA® | U.S.
Sales by segment of business
Sales to customers	$ 72	74	$ 139	150
Percent Change (as a percent)	(3.00%)		(7.50%)
PHARMACEUTICAL | Neuroscience | RISPERDAL CONSTA® | International
Sales by segment of business
Sales to customers	$ 84	79	$ 173	173
Percent Change (as a percent)	6.40%		0.40%
PHARMACEUTICAL | Neuroscience | OTHER NEUROSCIENCE
Sales by segment of business
Sales to customers	$ 468	406	$ 896	841
Percent Change (as a percent)	15.10%		6.50%
PHARMACEUTICAL | Neuroscience | OTHER NEUROSCIENCE | U.S.
Sales by segment of business
Sales to customers	$ 91	75	$ 158	150
Percent Change (as a percent)	20.90%		5.60%
PHARMACEUTICAL | Neuroscience | OTHER NEUROSCIENCE | International
Sales by segment of business
Sales to customers	$ 377	331	$ 738	691
Percent Change (as a percent)	13.80%		6.70%
PHARMACEUTICAL | Oncology
Sales by segment of business
Sales to customers	$ 3,535	2,791	$ 7,105	5,804
Percent Change (as a percent)	26.70%		22.40%
PHARMACEUTICAL | Oncology | U.S.
Sales by segment of business
Sales to customers	$ 1,462	1,181	$ 2,839	2,356
Percent Change (as a percent)	23.70%		20.50%
PHARMACEUTICAL | Oncology | International
Sales by segment of business
Sales to customers	$ 2,073	1,609	$ 4,266	3,448
Percent Change (as a percent)	28.80%		23.70%
PHARMACEUTICAL | Oncology | DARZALEX®
Sales by segment of business
Sales to customers	$ 1,433	901	$ 2,798	1,838
Percent Change (as a percent)	59.20%		52.20%
PHARMACEUTICAL | Oncology | DARZALEX® | U.S.
Sales by segment of business
Sales to customers	$ 770	492	$ 1,461	955
Percent Change (as a percent)	56.70%		53.10%
PHARMACEUTICAL | Oncology | DARZALEX® | International
Sales by segment of business
Sales to customers	$ 663	409	$ 1,337	883
Percent Change (as a percent)	62.10%		51.40%
PHARMACEUTICAL | Oncology | ERLEADA
Sales by segment of business
Sales to customers	$ 302	170	$ 563	313
Percent Change (as a percent)	77.60%		80.00%
PHARMACEUTICAL | Oncology | ERLEADA | U.S.
Sales by segment of business
Sales to customers	$ 193	136	$ 364	255
Percent Change (as a percent)	41.50%		42.70%
PHARMACEUTICAL | Oncology | ERLEADA | International
Sales by segment of business
Sales to customers	$ 109	33	$ 199	57
PHARMACEUTICAL | Oncology | IMBRUVICA®
Sales by segment of business
Sales to customers	$ 1,116	949	$ 2,241	1,980
Percent Change (as a percent)	17.70%		13.20%
PHARMACEUTICAL | Oncology | IMBRUVICA® | U.S.
Sales by segment of business
Sales to customers	$ 454	447	$ 898	879
Percent Change (as a percent)	1.70%		2.20%
PHARMACEUTICAL | Oncology | IMBRUVICA® | International
Sales by segment of business
Sales to customers	$ 662	502	$ 1,342	1,101
Percent Change (as a percent)	31.90%		21.90%
PHARMACEUTICAL | Oncology | ZYTIGA® / abiraterone acetate
Sales by segment of business
Sales to customers	$ 563	568	$ 1,201	1,258
Percent Change (as a percent)	(0.80%)		(4.50%)
PHARMACEUTICAL | Oncology | ZYTIGA® / abiraterone acetate | U.S.
Sales by segment of business
Sales to customers	$ 21	87	$ 71	226
Percent Change (as a percent)	(75.30%)		(68.50%)
PHARMACEUTICAL | Oncology | ZYTIGA® / abiraterone acetate | International
Sales by segment of business
Sales to customers	$ 542	480	$ 1,130	1,032
Percent Change (as a percent)	12.80%		9.50%
PHARMACEUTICAL | Oncology | OTHER ONCOLOGY(1)
Sales by segment of business
Sales to customers	$ 120	204	$ 302	416
Percent Change (as a percent)	(40.90%)		(27.30%)
PHARMACEUTICAL | Oncology | OTHER ONCOLOGY(1) | U.S.
Sales by segment of business
Sales to customers	$ 23	20	$ 44	42
Percent Change (as a percent)	18.80%		6.30%
PHARMACEUTICAL | Oncology | OTHER ONCOLOGY(1) | International
Sales by segment of business
Sales to customers	$ 97	185	$ 258	375
Percent Change (as a percent)	(47.20%)		(31.00%)
PHARMACEUTICAL | Pulmonary Hypertension
Sales by segment of business
Sales to customers	$ 870	789	$ 1,731	1,534
Percent Change (as a percent)	10.40%		12.90%
PHARMACEUTICAL | Pulmonary Hypertension | U.S.
Sales by segment of business
Sales to customers	$ 595	545	$ 1,168	1,031
Percent Change (as a percent)	9.00%		13.20%
PHARMACEUTICAL | Pulmonary Hypertension | International
Sales by segment of business
Sales to customers	$ 275	243	$ 563	503
Percent Change (as a percent)	13.50%		12.10%
PHARMACEUTICAL | Pulmonary Hypertension | OPSUMIT®
Sales by segment of business
Sales to customers	$ 463	406	$ 913	795
Percent Change (as a percent)	14.10%		14.80%
PHARMACEUTICAL | Pulmonary Hypertension | OPSUMIT® | U.S.
Sales by segment of business
Sales to customers	$ 290	256	$ 562	485
Percent Change (as a percent)	13.60%		15.90%
PHARMACEUTICAL | Pulmonary Hypertension | OPSUMIT® | International
Sales by segment of business
Sales to customers	$ 172	150	$ 351	310
Percent Change (as a percent)	14.90%		13.10%
PHARMACEUTICAL | Pulmonary Hypertension | UPTRAVI®
Sales by segment of business
Sales to customers	$ 313	282	$ 618	532
Percent Change (as a percent)	11.00%		16.20%
PHARMACEUTICAL | Pulmonary Hypertension | UPTRAVI® | U.S.
Sales by segment of business
Sales to customers	$ 268	254	$ 527	466
Percent Change (as a percent)	6.00%		13.30%
PHARMACEUTICAL | Pulmonary Hypertension | UPTRAVI® | International
Sales by segment of business
Sales to customers	$ 45	28	$ 91	66
Percent Change (as a percent)	54.90%		36.80%
PHARMACEUTICAL | Pulmonary Hypertension | Other
Sales by segment of business
Sales to customers	$ 95	101	$ 200	207
Percent Change (as a percent)	(6.10%)		(3.30%)
PHARMACEUTICAL | Pulmonary Hypertension | Other | U.S.
Sales by segment of business
Sales to customers	$ 36	37	$ 78	81
Percent Change (as a percent)	(2.40%)		(3.00%)
PHARMACEUTICAL | Pulmonary Hypertension | Other | International
Sales by segment of business
Sales to customers	$ 59	64	$ 122	126
Percent Change (as a percent)	(8.20%)		(3.50%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other
Sales by segment of business
Sales to customers	$ 1,126	1,184	$ 2,253	2,344
Percent Change (as a percent)	(5.00%)		(3.90%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | U.S.
Sales by segment of business
Sales to customers	$ 780	837	$ 1,579	1,643
Percent Change (as a percent)	(6.90%)		(3.90%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | International
Sales by segment of business
Sales to customers	$ 346	347	$ 674	701
Percent Change (as a percent)	(0.30%)		(3.80%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | XARELTO®
Sales by segment of business
Sales to customers	$ 569	559	$ 1,158	1,086
Percent Change (as a percent)	1.80%		6.60%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | XARELTO® | U.S.
Sales by segment of business
Sales to customers	$ 569	559	$ 1,158	1,086
Percent Change (as a percent)	1.80%		6.60%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | XARELTO® | International
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0.00%		0.00%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | INVOKANA® / INVOKAMET®
Sales by segment of business
Sales to customers	$ 160	179	$ 310	354
Percent Change (as a percent)	(10.90%)		(12.60%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | INVOKANA® / INVOKAMET® | U.S.
Sales by segment of business
Sales to customers	$ 96	132	$ 183	249
Percent Change (as a percent)	(27.00%)		(26.60%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | INVOKANA® / INVOKAMET® | International
Sales by segment of business
Sales to customers	$ 64	47	$ 127	105
Percent Change (as a percent)	33.80%		20.30%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | PROCRIT® / EPREX®
Sales by segment of business
Sales to customers	$ 127	136	$ 254	291
Percent Change (as a percent)	(6.60%)		(12.80%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | PROCRIT® / EPREX® | U.S.
Sales by segment of business
Sales to customers	$ 59	70	$ 121	146
Percent Change (as a percent)	(16.30%)		(17.30%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | PROCRIT® / EPREX® | International
Sales by segment of business
Sales to customers	$ 69	66	$ 133	145
Percent Change (as a percent)	3.70%		(8.20%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | Other
Sales by segment of business
Sales to customers	$ 271	312	$ 532	614
Percent Change (as a percent)	(13.00%)		(13.30%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | Other | U.S.
Sales by segment of business
Sales to customers	$ 57	78	$ 117	163
Percent Change (as a percent)	(26.70%)		(27.80%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | Other | International
Sales by segment of business
Sales to customers	$ 214	234	$ 415	451
Percent Change (as a percent)	(8.40%)		(8.10%)
MEDICAL DEVICES
Sales by segment of business
Sales to customers	$ 6,978	4,288	$ 13,557	10,220
Percent Change (as a percent)	62.70%		32.70%
MEDICAL DEVICES | U.S.
Sales by segment of business
Sales to customers	$ 3,299	1,862	$ 6,353	4,760
Percent Change (as a percent)	77.20%		33.50%
MEDICAL DEVICES | International
Sales by segment of business
Sales to customers	$ 3,679	2,426	$ 7,204	5,460
Percent Change (as a percent)	51.60%		31.90%
MEDICAL DEVICES | Interventional Solutions
Sales by segment of business
Sales to customers	$ 1,046	590	$ 1,995	1,317
Percent Change (as a percent)	77.40%		51.50%
MEDICAL DEVICES | Interventional Solutions | U.S.
Sales by segment of business
Sales to customers	$ 475	255	$ 909	620
Percent Change (as a percent)	86.50%		46.70%
MEDICAL DEVICES | Interventional Solutions | International
Sales by segment of business
Sales to customers	$ 572	335	$ 1,086	697
Percent Change (as a percent)	70.50%		55.70%
MEDICAL DEVICES | Orthopaedics
Sales by segment of business
Sales to customers	$ 2,227	1,451	$ 4,340	3,489
Percent Change (as a percent)	53.40%		24.40%
MEDICAL DEVICES | Orthopaedics | U.S.
Sales by segment of business
Sales to customers	$ 1,323	869	$ 2,572	2,119
Percent Change (as a percent)	52.30%		21.40%
MEDICAL DEVICES | Orthopaedics | International
Sales by segment of business
Sales to customers	$ 904	583	$ 1,768	1,371
Percent Change (as a percent)	55.10%		29.00%
MEDICAL DEVICES | Orthopaedics | HIPS
Sales by segment of business
Sales to customers	$ 392	226	$ 749	563
Percent Change (as a percent)	73.70%		33.00%
MEDICAL DEVICES | Orthopaedics | HIPS | U.S.
Sales by segment of business
Sales to customers	$ 234	137	$ 444	343
Percent Change (as a percent)	70.50%		29.60%
MEDICAL DEVICES | Orthopaedics | HIPS | International
Sales by segment of business
Sales to customers	$ 159	88	$ 305	220
Percent Change (as a percent)	78.60%		38.30%
MEDICAL DEVICES | Orthopaedics | KNEES
Sales by segment of business
Sales to customers	$ 350	174	$ 667	517
Percent Change (as a percent)			28.90%
MEDICAL DEVICES | Orthopaedics | KNEES | U.S.
Sales by segment of business
Sales to customers	$ 210	108	$ 395	322
Percent Change (as a percent)	94.30%		22.70%
MEDICAL DEVICES | Orthopaedics | KNEES | International
Sales by segment of business
Sales to customers	$ 140	66	$ 272	196
Percent Change (as a percent)			39.20%
MEDICAL DEVICES | Orthopaedics | TRAUMA
Sales by segment of business
Sales to customers	$ 710	553	$ 1,443	1,207
Percent Change (as a percent)	28.40%		19.60%
MEDICAL DEVICES | Orthopaedics | TRAUMA | U.S.
Sales by segment of business
Sales to customers	$ 447	354	$ 897	761
Percent Change (as a percent)	26.00%		17.80%
MEDICAL DEVICES | Orthopaedics | TRAUMA | International
Sales by segment of business
Sales to customers	$ 263	198	$ 545	445
Percent Change (as a percent)	32.70%		22.50%
MEDICAL DEVICES | Orthopaedics | SPINE, SPORTS & OTHER
Sales by segment of business
Sales to customers	$ 776	499	$ 1,482	1,202
Percent Change (as a percent)	55.30%		23.20%
MEDICAL DEVICES | Orthopaedics | SPINE, SPORTS & OTHER | U.S.
Sales by segment of business
Sales to customers	$ 433	270	$ 836	693
Percent Change (as a percent)	60.60%		20.70%
MEDICAL DEVICES | Orthopaedics | SPINE, SPORTS & OTHER | International
Sales by segment of business
Sales to customers	$ 343	230	$ 646	510
Percent Change (as a percent)	49.00%		26.70%
MEDICAL DEVICES | Surgery
Sales by segment of business
Sales to customers	$ 2,522	1,551	$ 4,894	3,651
Percent Change (as a percent)	62.60%		34.00%
MEDICAL DEVICES | Surgery | U.S.
Sales by segment of business
Sales to customers	$ 1,035	490	$ 1,933	1,334
Percent Change (as a percent)			44.90%
MEDICAL DEVICES | Surgery | International
Sales by segment of business
Sales to customers	$ 1,487	1,060	$ 2,961	2,317
Percent Change (as a percent)	40.20%		27.80%
MEDICAL DEVICES | Surgery | ADVANCED
Sales by segment of business
Sales to customers	$ 1,168	775	$ 2,286	1,723
Percent Change (as a percent)	50.50%		32.60%
MEDICAL DEVICES | Surgery | ADVANCED | U.S.
Sales by segment of business
Sales to customers	$ 459	277	$ 864	658
Percent Change (as a percent)	65.40%		31.30%
MEDICAL DEVICES | Surgery | ADVANCED | International
Sales by segment of business
Sales to customers	$ 708	498	$ 1,421	1,065
Percent Change (as a percent)	42.20%		33.40%
MEDICAL DEVICES | Surgery | GENERAL
Sales by segment of business
Sales to customers	$ 1,354	775	$ 2,608	1,928
Percent Change (as a percent)	74.70%		35.30%
MEDICAL DEVICES | Surgery | GENERAL | U.S.
Sales by segment of business
Sales to customers	$ 576	213	$ 1,069	676
Percent Change (as a percent)			58.10%
MEDICAL DEVICES | Surgery | GENERAL | International
Sales by segment of business
Sales to customers	$ 779	562	$ 1,540	1,252
Percent Change (as a percent)	38.50%		23.00%
MEDICAL DEVICES | Vision
Sales by segment of business
Sales to customers	$ 1,183	695	$ 2,328	1,762
Percent Change (as a percent)	70.10%		32.10%
MEDICAL DEVICES | Vision | U.S.
Sales by segment of business
Sales to customers	$ 467	248	$ 939	687
Percent Change (as a percent)	88.30%		36.60%
MEDICAL DEVICES | Vision | International
Sales by segment of business
Sales to customers	$ 716	447	$ 1,389	1,075
Percent Change (as a percent)	60.00%		29.20%
MEDICAL DEVICES | Vision | CONTACT LENSES / OTHER
Sales by segment of business
Sales to customers	$ 868	554	$ 1,725	1,368
Percent Change (as a percent)	56.70%		26.10%
MEDICAL DEVICES | Vision | CONTACT LENSES / OTHER | U.S.
Sales by segment of business
Sales to customers	$ 352	203	$ 723	549
Percent Change (as a percent)	73.30%		31.60%
MEDICAL DEVICES | Vision | CONTACT LENSES / OTHER | International
Sales by segment of business
Sales to customers	$ 517	352	$ 1,003	819
Percent Change (as a percent)	47.00%		22.50%
MEDICAL DEVICES | Vision | SURGICAL
Sales by segment of business
Sales to customers	$ 314	141	$ 602	394
Percent Change (as a percent)			52.80%
MEDICAL DEVICES | Vision | SURGICAL | U.S.
Sales by segment of business
Sales to customers	115	45	$ 216	138
Percent Change (as a percent)			56.30%
MEDICAL DEVICES | Vision | SURGICAL | International
Sales by segment of business
Sales to customers	$ 199	$ 96	$ 386	$ 256
Percent Change (as a percent)			50.90%

Segments of Business and Geog_4

Segments of Business and Geographic Areas - Operating Profit by Segment of Business (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020	Jan. 03, 2021
Segment Reporting Information [Line Items]
Percentage Change in Operating Income Loss	69.10%		34.90%
Earnings before provision for taxes on income	$ 6,662	$ 3,940	$ 14,091	$ 10,449
Amount prepaid and due to manufacturers					$ 1,300
Reversal of contingent consideration			0	983
Restructuring charges	56	61	109	119
Consumer Health
Segment Reporting Information [Line Items]
Litigation expense	100	600	100	600
Medical Devices
Segment Reporting Information [Line Items]
Restructuring charges	100	100
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 6,906	4,192	$ 14,546	10,821
Percentage Change in Operating Income Loss	64.70%		34.40%
Operating Segments | Consumer Health
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 804	32	$ 1,592	802
Percentage Change in Operating Income Loss			98.50%
Amortization	100	100	$ 200	200
Operating Segments | PHARMACEUTICAL
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 4,356	4,514	$ 9,579	8,348
Percentage Change in Operating Income Loss	(3.50%)		14.70%
Amortization	$ 800	800	$ 1,700	1,600
Gain (Loss) on Disposition of Assets			600
Unrealized Gain (Loss) on Securities	200	500	100	200
Operating Segments | Medical Devices
Segment Reporting Information [Line Items]
Total Segment Operating Income	1,746	(354)	3,375	1,671
Amortization	300	200	500	500
Unrealized Gain (Loss) on Securities	100		100
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 244	252	$ 455	$ 372
Auris Health
Segment Reporting Information [Line Items]
Reversal of contingent consideration					$ 983
Other Income | Auris Health | Medical Devices
Segment Reporting Information [Line Items]
Reversal of contingent consideration		$ 1,000

Segments of Business and Geog_5

Segments of Business and Geographic Areas - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Sales by geographic area
Sales	$ 23,312	$ 18,336	$ 45,633	$ 39,027
Percentage Change In Sales By Geographic Area	27.10%		16.90%
United States
Sales by geographic area
Sales	$ 11,919	9,539	$ 23,030	20,238
Percentage Change In Sales By Geographic Area	24.90%		13.80%
Europe
Sales by geographic area
Sales	$ 5,668	4,063	$ 11,082	8,890
Percentage Change In Sales By Geographic Area	39.50%		24.70%
Western Hemisphere, excluding U.S.
Sales by geographic area
Sales	$ 1,367	1,133	$ 2,791	2,635
Percentage Change In Sales By Geographic Area	20.60%		5.90%
Asia-Pacific, Africa
Sales by geographic area
Sales	$ 4,358	$ 3,601	$ 8,730	$ 7,264
Percentage Change In Sales By Geographic Area	21.00%		20.20%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Jul. 04, 2021	Jan. 03, 2021
Business Acquisition [Line Items]
Goodwill (Note 3)			$ 35,819	$ 36,393
bermekimab
Business Acquisition [Line Items]
Business acquisition cost		$ 800
Intangible assets		800
Verb Surgical Inc.
Business Acquisition [Line Items]
Intangible assets		400
Goodwill (Note 3)		200
Other assets		200
Liabilities assumed		300
Fair value of previously held equity investment		$ 400
Evra and Doxil
Business Acquisition [Line Items]
Gain (Loss) on Disposition of Assets	$ 600

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	Jan. 20, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 28, 2020USD ($)	Jan. 31, 2020USD ($)	Oct. 31, 2019USD ($)	Jul. 31, 2018USD ($)	Jul. 04, 2021USD ($)patientclaimant	May 31, 2021claimant	Oct. 31, 2020USD ($)
ASR
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							300
Pinnacle Acetabular Cup System
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							6,300
Pelvic Meshes
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							11,600
Risperdal
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							9,200
XARELTO®
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							7,800
Talc
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							34,600
Invokana
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							200
Physiomesh
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							4,600
Opioid
Legal Proceeding (Textuals)
Product liability contingency, number of claimants							3,200
settled Litigation | Opioid
Legal Proceeding (Textuals)
Damages awarded | $		$ 5,000
Damages awarded, including settlement for related issues, reimbursement for legal fees, and removal from related claims | $		263
Judicial Ruling
Legal Proceeding (Textuals)
Damages awarded | $				$ 6.8	$ 8,000
Pending Litigation
Legal Proceeding (Textuals)
Loss contingency, estimate of possible loss | $					$ 4,000				$ 5,000
Loss contingency, estimate of additional possible loss | $									$ 1,000
Pending Litigation | Physiomesh
Legal Proceeding (Textuals)
Product liability contingency, number of claimants								3,600
DePuy ASR U.S. | settled Litigation
Legal Proceeding (Textuals)
Number of patients in settlement | patient							10,000
Baby Powder | Judicial Ruling | Damages from Product Defects
Legal Proceeding (Textuals)
Litigation contingency | $			$ 2,100			$ 4,700
Payments for legal settlements | $		$ 2,500
Oklahoma Attorney General vs. Johnson & Johnson and JPI | settled Litigation
Legal Proceeding (Textuals)
Damages awarded | $							$ 465
Surgical Mesh Products Marketing | Judicial Ruling
Legal Proceeding (Textuals)
Damages awarded | $	$ 344

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 56	$ 61	$ 109	$ 119
Supply Chain
Restructuring Cost and Reserve [Line Items]
Restructuring charges	108		212
Restructuring charges recorded to date	1,500		1,500
Supply Chain | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	56		109
Supply Chain | Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	20		47
Supply Chain | Other (income) expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges	32		56
Supply Chain | Minimum
Restructuring Cost and Reserve [Line Items]
Cost savings expected	600		600
Restructuring estimated cost	1,900		1,900
Supply Chain | Maximum
Restructuring Cost and Reserve [Line Items]
Cost savings expected	800		800
Restructuring estimated cost	2,300		$ 2,300
Medical Devices
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 100	$ 100
Medical Devices | Supply Chain | Minimum
Restructuring Cost and Reserve [Line Items]
Period for activity			4 years
Medical Devices | Supply Chain | Maximum
Restructuring Cost and Reserve [Line Items]
Period for activity			5 years

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jun. 28, 2020	Jul. 04, 2021	Jun. 28, 2020
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 56	$ 61	$ 109	$ 119
Medical Devices
Restructuring Reserve [Roll Forward]
Reserve balance beginning			144
Restructuring charges			212
Payments for Restructuring			(193)
Restructuring Reserve, Settled without Cash			(26)
Reserve balance ending	137		$ 137
Period of cash outlays for severance expected to be paid out			18 months
Medical Devices | Employee Severance
Restructuring Reserve [Roll Forward]
Reserve balance beginning			$ 135
Restructuring charges			0
Payments for Restructuring			(12)
Restructuring Reserve, Settled without Cash			0
Reserve balance ending	123		123
Medical Devices | Asset Write-off
Restructuring Reserve [Roll Forward]
Reserve balance beginning			0
Restructuring charges			26
Payments for Restructuring			0
Restructuring Reserve, Settled without Cash			(26)
Reserve balance ending	0		0
Medical Devices | Other Restructuring
Restructuring Reserve [Roll Forward]
Reserve balance beginning			9
Restructuring charges			186
Payments for Restructuring			(181)
Restructuring Reserve, Settled without Cash
Reserve balance ending	$ 14		$ 14