Johnson & Johnson (JNJ) 10-Q 31 Jul 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 02, 2023	Jul. 24, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2023
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		2,598,969,594
Entity Central Index Key	0000200406
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
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
0.650% 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. 02, 2023	Jan. 01, 2023
Current assets:
Cash and cash equivalents (Note 4)	$ 21,183	$ 14,127
Marketable securities	7,322	9,392
Accounts receivable, trade, less allowances $205 (2022, $203)	16,777	16,160
Inventories (Note 2)	12,888	12,483
Prepaid expenses and other	2,397	3,132
Total current assets	60,567	55,294
Property, plant and equipment at cost	51,218	49,253
Less: accumulated depreciation	(30,642)	(29,450)
Property, plant and equipment, net	20,576	19,803
Intangible assets, net (Note 3)	46,246	48,325
Goodwill (Note 3)	45,440	45,231
Deferred taxes on income (Note 5)	8,779	9,123
Other assets	10,078	9,602
Total assets	191,686	187,378
Current liabilities:
Loans and notes payable	11,701	12,771
Accounts payable	10,443	11,703
Accrued liabilities	10,605	11,456
Accrued rebates, returns and promotions	15,672	14,417
Accrued compensation and employee related obligations	3,062	3,328
Accrued taxes on income (Note 5)	2,687	2,127
Total current liabilities	54,170	55,802
Long-term debt (Note 4)	33,901	26,888
Deferred taxes on income (Note 5)	3,627	6,374
Employee related obligations (Note 6)	6,461	6,767
Long-term taxes payable (Note 5)	2,536	4,306
Other liabilities	14,582	10,437
Total liabilities	115,277	110,574
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)	(13,135)	(12,967)
Retained earnings and Additional paid-in capital	129,381	128,345
Less: common stock held in treasury, at cost (521,700,000 and 506,246,000 shares)	44,217	41,694
Stockholders' Equity Attributable to Parent	75,149	76,804
Total Johnson & Johnson shareholders’ equity	76,409	76,804
Stockholders' Equity Attributable to Noncontrolling Interest	1,260	0
Total liabilities and shareholders’ equity	$ 191,686	$ 187,378

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 02, 2023	Jan. 01, 2023
Current assets:
Allowances for doubtful accounts	$ 205	$ 203
Shareholders' equity:
Common stock, par value per share (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	4,320,000,000	4,320,000,000
Common stock, shares issued (in shares)	3,119,843,000	3,119,843,000
Treasury stock (in shares)	521,700,000	506,246,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jul. 02, 2023		Jul. 03, 2022	Jul. 02, 2023		Jul. 03, 2022
Income Statement [Abstract]
Sales to customers	$ 25,530		$ 24,020	$ 50,276		$ 47,446
Sales to customers percent to sales	100%		100%	100%		100%
Cost of products sold	$ 8,212		$ 7,919	$ 16,607		$ 15,517
Cost of products sold percent to sales	32.20%		33%	33%		32.70%
Gross profit	$ 17,318		$ 16,101	$ 33,669		$ 31,929
Gross Profit Percent To Sales	67.80%		67%	67%		67.30%
Selling, marketing and administrative expenses	$ 6,665		$ 6,226	$ 12,803		$ 12,164
Selling marketing and administrative expenses percent to sales	26.10%		25.90%	25.50%		25.60%
Research and development expense	$ 3,829		$ 3,703	$ 7,392		$ 7,165
Research and development expense percent to sales	15%		15.40%	14.70%		15.10%
In-process research and development impairments				$ 49		$ 610
In-process research and development percent to sales				0.10%		1.30%
Interest income	$ (369)		$ (64)	$ (604)		$ (86)
Interest income percent to sales	(1.50%)		(0.30%)	(1.20%)		(0.20%)
Interest expense, net of portion capitalized	$ 346		$ 38	$ 561		$ 48
Interest expense, net of portion capitalized percent to sales	1.40%		0.20%	1.10%		0.10%
Other (income) expense, net*	$ (60)	[1]	$ 273	$ 7,168	[2]	$ 171
Other (income) expense, net percent to sales	(0.20%)		1.10%	14.30%		0.40%
Restructuring	$ 145		$ 85	$ 275		$ 155
Restructuring charge percent to sales	0.50%		0.40%	0.50%		0.30%
Earnings before provision for taxes on income	$ 6,762		$ 5,840	$ 6,025		$ 11,702
Earnings before provision for taxes on income percent to sales	26.50%		24.30%	12%		24.70%
Provision for taxes on income (Note 5)	$ 1,618		$ 1,026	$ 949		$ 1,739
Provision for taxes on income percent to sales	6.40%		4.30%	1.90%		3.70%
Net earnings	$ 5,144		$ 4,814	$ 5,076		$ 9,963
Net earnings percent to sales	20.10%		20%	10.10%		21%
NET EARNINGS PER SHARE
Basic (per share)	$ 1.98		$ 1.83	$ 1.95		$ 3.79
Diluted (per share)	$ 1.96		$ 1.80	$ 1.93		$ 3.73
AVG. SHARES OUTSTANDING
Basic (shares)	2,598.4		2,629.6	2,601.9		2,629.4
Diluted (shares)	2,625.7		2,667.9	2,630.7		2,669.2
[1]Fiscal second quarter of 2023 Other (income) expense, net includes $37 million related to the 10.4% non-controlling interest in Kenvue from the time of the initial public offering on May 8, 2023 through the end of the fiscal second quarter.[2]Fiscal six months of 2023 Other (income) expense, net includes $37 million related to the 10.4% non-controlling interest in Kenvue from the time of the initial public offering on May 8, 2023 through the end of the fiscal second quarter.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 5,144	$ 4,814	$ 5,076	$ 9,963
Other comprehensive income (loss), net of tax
Foreign currency translation	(715)	(151)	(896)	(705)
Securities:
Unrealized holding gain (loss) arising during period	4	(20)	21	(33)
Reclassifications to earnings	0	0	0	0
Net change	4	(20)	21	(33)
Employee benefit plans:
Prior service cost amortization during period	(36)	(20)	(71)	(73)
Gain (loss) amortization during period	(34)	86	(67)	303
Net change	(70)	66	(138)	230
Derivatives & hedges:
Unrealized gain (loss) arising during period	(137)	145	433	(50)
Reclassifications to earnings	(139)	(126)	(136)	(227)
Net change	(276)	19	297	(277)
Other comprehensive income (loss)	(1,057)	(86)	(716)	(785)
Comprehensive income	$ 4,087	$ 4,728	$ 4,360	$ 9,178

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Statement of Comprehensive Income [Abstract]
Foreign Currency Translation	$ (32)	$ 533	$ (266)	$ 678
Securities	1	(6)	6	(9)
Employee Benefit Plans	21	(84)	43	(65)
Derivatives & Hedges	$ (74)	$ 5	$ 80	$ (73)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Retained Earnings and Additional paid-in capital	Accumulated Other Comprehensive Income	Common Stock Issued Amount	Treasury Stock Amount	Noncontrolling Interest
Beginning balance at Jan. 02, 2022	$ 74,023	$ 123,060	$ (13,058)	$ 3,120	$ (39,099)
Net earnings	9,963	9,963
Cash dividends paid	(5,758)	(5,758)
Employee compensation and stock option plans	1,464	(1,049)			2,513
Repurchase of common stock	(2,550)				(2,550)
Other comprehensive income (loss), net of tax	(785)		(785)
Ending balance at Jul. 03, 2022	76,357	126,216	(13,843)	3,120	(39,136)
Beginning balance at Apr. 03, 2022	74,709	124,380	(13,757)	3,120	(39,034)
Net earnings	4,814	4,814
Cash dividends paid	(2,971)	(2,971)
Employee compensation and stock option plans	864	(7)			871
Repurchase of common stock	(973)				(973)
Other comprehensive income (loss), net of tax	(86)		(86)
Ending balance at Jul. 03, 2022	76,357	126,216	(13,843)	3,120	(39,136)
Beginning balance at Jan. 01, 2023	76,804	128,345	(12,967)	3,120	(41,694)
Net earnings	5,076	5,076
Cash dividends paid	(6,034)	(6,034)
Employee compensation and stock option plans	944	(476)			1,420
Repurchase of common stock	(3,918)				(3,918)
Other	(25)				25
Kenvue IPO	4,278	2,470	548			$ 1,260	[1]
Other comprehensive income (loss), net of tax	(716)		(716)
Ending balance at Jul. 02, 2023	76,409	129,381	(13,135)	3,120	(44,217)	1,260
Beginning balance at Apr. 02, 2023	70,869	124,558	(12,626)	3,120	(44,183)
Net earnings	5,144	5,144
Cash dividends paid	(3,092)	(3,092)
Employee compensation and stock option plans	649	301			348
Repurchase of common stock	(381)				(381)
Other	(1)				(1)
Kenvue IPO	4,278	2,470	548			1,260	[1]
Other comprehensive income (loss), net of tax	(1,057)		(1,057)
Ending balance at Jul. 02, 2023	$ 76,409	$ 129,381	$ (13,135)	$ 3,120	$ (44,217)	$ 1,260
[1]Includes $37 million recorded in net earnings related to the 10.4% non-controlling interest of Kenvue.

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Cash dividends paid (in dollars per share)	$ 1.19	$ 1.13	$ 2.32	$ 2.19
Kenvue Inc.
Gain on investment	$ 37		$ 37

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 5,076	$ 9,963
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property and intangibles	3,814	3,513
Stock based compensation	688	644
Asset write-downs	388	747
Net gain on sale of assets/businesses	(47)	(213)
Deferred tax provision	(2,342)	(2,349)
Credit losses and accounts receivable allowances	0	(3)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
Increase in accounts receivable	(599)	(1,386)
Increase in inventories	(741)	(1,257)
Decrease in accounts payable and accrued liabilities	(1,061)	(1,170)
(Increase)/Decrease in other current and non-current assets	(1,144)	3,527
Increase/(Decrease) in other current and non-current liabilities	3,407	(2,456)
NET CASH FLOWS FROM OPERATING ACTIVITIES	7,439	9,560
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(1,987)	(1,470)
Proceeds from the disposal of assets/businesses, net (Note 10)	116	314
Acquisitions, net of cash acquired (Note 10)	0	(523)
Purchases of investments	(9,688)	(22,048)
Sales of investments	11,877	17,634
Credit support agreements activity, net	(798)	(10)
Other (primarily licenses and milestones)	19	(170)
NET CASH USED BY INVESTING ACTIVITIES	(461)	(6,273)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends to shareholders	(6,034)	(5,758)
Repurchase of common stock	(3,918)	(2,550)
Proceeds from short-term debt (Note 4)	12,221	4,371
Repayment of short-term debt	(13,611)	(2,201)
Proceeds from long-term debt, net of issuance costs (Note 4)	7,674	2
Repayment of long-term debt	(501)	(2,132)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net	254	820
Credit support agreements activity, net	(126)	813
Proceeds from Kenvue initial public offering (Note 12)	4,241	0
Other	(53)	(11)
NET CASH FROM/(USED BY) FINANCING ACTIVITIES	147	(6,646)
Effect of exchange rate changes on cash and cash equivalents	(69)	(145)
Increase/(Decrease) in cash and cash equivalents	7,056	(3,504)
Cash and Cash equivalents beginning of period	14,127	14,487
CASH AND CASH EQUIVALENTS, END OF PERIOD	21,183	10,983
Acquisitions
Fair value of assets acquired	0	621
Fair value of liabilities assumed	0	(98)
Net cash paid for acquisitions	$ 0	$ 523

Consolidated Statements of Ea_2

Consolidated Statements of Earnings (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 02, 2023	Jul. 02, 2023	May 08, 2023
Kenvue Inc.
Noncontrolling ownership interest	10.40%	10.40%	10.40%
Kenvue Inc.
Gain on investment	$ 37	$ 37

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 02, 2023
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 1, 2023. 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. For details regarding the Kenvue separation see Note 12 to the Consolidated Financial Statements. Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures. 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 1, 2023. Recently Adopted Accounting Standards ASU 2022-04: Liabilities-Supplier Finance Programs (Topic 405-50) The Company adopted the standard as of the beginning of fiscal year 2023, which requires that a buyer in a supplier finance program disclose additional information about the program for financial statement users. The Company has agreements for supplier finance programs with third-party financial institutions. These programs provide participating suppliers the ability to finance payment obligations from the Company with the third-party financial institutions. The Company is not a party to the arrangements between the suppliers and the third-party financial institutions. The Company’s obligations to its suppliers, including amounts due, and scheduled payment dates (which have general payment terms of 90 days), are not affected by a participating supplier’s decision to participate in the program. As of July 2, 2023, and January 1, 2023, $0.9 billion and $1.0 billion, respectively, were valid obligations under the program. The obligations are presented as Accounts payable on the Consolidated Balance Sheets. Recently Issued Accounting Standards Not Adopted as of July 2, 2023 There were no new material accounting standards issued in the fiscal six months of 2023. Reclassification Certain prior period amounts have been reclassified to conform to current year presentation.

Inventories

Inventories	6 Months Ended
	Jul. 02, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES (Dollars in Millions) July 2, 2023 January 1, 2023 Raw materials and supplies $ 2,419 2,070 Goods in process 1,944 1,700 Finished goods 8,525 8,713 Total inventories $ 12,888 12,483

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jul. 02, 2023
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 2022. 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 2, 2023 January 1, 2023 Intangible assets with definite lives: Patents and trademarks — gross $ 44,637 44,012 Less accumulated amortization (24,460) (22,266) Patents and trademarks — net 20,177 21,746 Customer relationships and other intangibles — gross 23,055 22,987 Less accumulated amortization (13,516) (12,901) Customer relationships and other intangibles — net (1) 9,539 10,086 Intangible assets with indefinite lives: Trademarks 6,834 6,807 Purchased in-process research and development 9,696 9,686 Total intangible assets with indefinite lives 16,530 16,493 Total intangible assets — net $ 46,246 48,325 (1) The majority is comprised of customer relationships Goodwill as of July 2, 2023 was allocated by segment of business as follows: (Dollars in Millions) Consumer Health Pharmaceutical MedTech Total Goodwill at January 1, 2023 $ 9,184 10,184 25,863 45,231 Goodwill, related to acquisitions — — — — Goodwill, related to divestitures — — — — Currency translation/Other (103) 137 175 * 209 Goodwill at July 2, 2023 $ 9,081 10,321 26,038 45,440 *Includes purchase price allocation adjustment for Abiomed 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 2, 2023 and July 3, 2022, 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 2, 2023 and July 3, 2022, respectively. Intangible asset write-downs are included in Other (income) expense, net, with the exception of In-Process research and development which are included in the In-Process research and development impairments line. The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2023 2024 2025 2026 2027 $4,800 4,600 3,800 3,200 2,600 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. 02, 2023
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 2, 2023, the cumulative amount of cash collateral paid by the Company under the CSA amounted to $1.8 billion net, 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 2, 2023, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $46.9 billion, $39.5 billion and $10.0 billion, respectively. As of January 1, 2023, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $43.3 billion, $36.2 billion and $12.4 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 2, 2023, the balance of deferred net gain on derivatives included in accumulated other comprehensive income was $67 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 July 2, 2023 and July 3, 2022, net of tax: July 2, 2023 July 3, 2022 (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 $ — — — (175) — — — — (241) — Derivatives designated as hedging instruments — — — 175 — — — — 241 — 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 — — — 33 — — — — 44 — Amount of gain or (loss) recognized in AOCI — — — 33 — — — — 44 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income (15) 56 (12) — 3 (17) (6) 42 — (39) Amount of gain or (loss) recognized in AOCI (14) 251 7 — 18 (25) 35 69 — (38) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 74 — — — — 102 — Amount of gain or (loss) recognized in AOCI $ — — — (432) — — — — 60 — The following table is a summary of the activity related to derivatives and hedges for the fiscal six months ended July 2, 2023 and July 3, 2022, net of tax: July 2, 2023 July 3, 2022 (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 $ — — — (1,104) — — — — (772) — Derivatives designated as hedging instruments — — — 1,104 — — — — 772 — 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 — — — 67 — — — — 89 — Amount of gain or (loss) recognized in AOCI — — — 67 — — — — 89 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income (3) (90) (25) — 5 (34) (58) 65 — (57) Amount of gain or (loss) recognized in AOCI 10 396 (29) — 4 (3) (59) 102 — (111) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 182 — — — — 222 — Amount of gain or (loss) recognized in AOCI $ — — — (15) — — — — (68) — As of July 2, 2023, and January 1, 2023, 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 Gain/ (Loss) Included in the Carrying Amount of the Hedged Liability (Dollars in Millions) July 2, 2023 January 1, 2023 July 2, 2023 January 1, 2023 Long-term Debt $ 8,662 8,665 (1,443) (1,435) The following table is the effect of derivatives not designated as hedging instruments for the fiscal second quarters ended 2023 and 2022: 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 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Foreign Exchange Contracts Other (income) expense $ 33 73 2 102 The following table is the effect of net investment hedges for the fiscal second quarters ended in 2023 and 2022: Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Debt $ 11 202 Interest (income) expense — — Cross Currency interest rate swaps $ (24) 313 Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal six months ended in 2023 and 2022 Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Debt $ (66) 270 Interest (income) expense — — Cross Currency interest rate swaps $ 666 873 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 1, 2023 July 2, 2023 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 $ 576 (30) (53) 493 493 Equity Investments without readily determinable value $ 698 (26) 75 747 747 (1) Recorded in Other Income/Expense (2) Other includes impact of currency 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 2, 2023 and January 1, 2023 were as follows: July 2, 2023 January 1, 2023 (Dollars in Millions) Level 1 Level 2 Level 3 Total Total (1) Derivatives designated as hedging instruments: Assets: Forward foreign exchange contracts $ — 893 — 893 629 Interest rate contracts (2) — 1,310 — 1,310 1,534 Total — 2,203 — 2,203 2,163 Liabilities: Forward foreign exchange contracts — 446 — 446 511 Interest rate contracts (2) — 3,691 — 3,691 2,778 Total — 4,137 — 4,137 3,289 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 55 — 55 38 Liabilities: Forward foreign exchange contracts — 22 — 22 68 Other Investments: Equity investments (3) 493 — — 493 576 Debt securities (4) — 9,831 — 9,831 10,487 Other Liabilities Contingent consideration (5) $ — — 1,142 1,142 1,120 Gross to Net Derivative Reconciliation July 2, 2023 January 1, 2023 (Dollars in Millions) Total Gross Assets $ 2,258 2,201 Credit Support Agreement (CSA) (2,119) (2,176) Total Net Asset 139 25 Total Gross Liabilities 4,159 3,357 Credit Support Agreement (CSA) (3,890) (3,023) Total Net Liabilities $ 269 334 Summarized information about changes in liabilities for contingent consideration for the fiscal second quarters ended July 2, 2023 and July 3, 2022 is as follows: July 2, 2023 July 3, 2022 (Dollars in Millions) Beginning Balance $ 1,120 533 Changes in estimated fair value (6) 25 (88) Additions — 91 Payments (3) — Ending Balance $ 1,142 536 (1) 2022 assets and liabilities are all classified as Level 2 with the exception of equity investments of $576 million, which are classified as Level 1 and contingent consideration of $1,120 million, classified as Level 3. (2) Includes cross currency interest rate swaps and interest rate swaps. (3) Classified as non-current other assets. (4) Classified within cash equivalents and current marketable securities. (5) Includes $1,137 million and $1,116 million, classified as non-current other liabilities as of July 2, 2023 and January 1, 2023, respectively. (6) Ongoing fair value adjustment amounts are primarily recorded in Research and Development expense. The Company's cash, cash equivalents and current marketable securities as of July 2, 2023 comprised: (Dollars in Millions) Carrying Amount Gain/(Loss) Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $ 4,430 — 4,430 4,430 — Non-U.S. sovereign securities 423 — 423 423 — U.S. reverse repurchase agreements 8,991 — 8,991 8,991 — Corporate debt securities (1) 641 — 641 368 273 Money market funds 3,570 — 3,570 3,570 — Time deposits (1) 619 — 619 619 — Subtotal 18,674 — 18,674 18,401 273 Unrealized Loss U.S. Gov’t securities 9,416 (5) 9,411 2,729 6,682 U.S. Gov’t Agencies 123 (2) 121 — 121 Other sovereign securities 9 — 9 7 2 Corporate debt securities 291 (1) 290 46 244 Subtotal available for sale debt (2) $ 9,839 (8) 9,831 2,782 7,049 Total cash, cash equivalents and current marketable securities $ 28,513 (8) 28,505 21,183 7,322 (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 1, 2023, 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 either cash equivalents or current marketable securities. The contractual maturities of the available for sale securities as of July 2, 2023 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $ 9,823 9,815 Due after one year through five years 16 16 Due after five years through ten years — — Total debt securities $ 9,839 9,831 Financial Instruments not measured at Fair Value: The following financial liabilities are held at carrying amount on the consolidated balance sheet as of July 2, 2023: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $ 11,701 11,676 Non-Current Debt 5.50% Notes due 2024 (500MM GBP 1.2605) 629 627 2.625% Notes due 2025 749 726 0.55% Notes due 2025 926 914 2.45% Notes due 2026 1,997 1,890 2.95% Notes due 2027 875 954 0.95% Notes due 2027 1,394 1,313 2.90% Notes due 2028 1,497 1,411 1.150% Notes due 2028 (750MM Euro 1.0873) 811 728 6.95% Notes due 2029 298 347 1.30% Notes due 2030 1,605 1,435 4.95% Debentures due 2033 498 525 4.375% Notes due 2033 854 857 1.650% Notes due 2035 (1.5B Euro 1.0873) 1,619 1,400 3.55% Notes due 2036 840 901 5.95% Notes due 2037 993 1,126 3.625% Notes due 2037 1,334 1,355 3.40% Notes due 2038 992 889 5.85% Debentures due 2038 697 783 4.50% Debentures due 2040 541 539 2.10% Notes due 2040 826 704 4.85% Notes due 2041 297 299 4.50% Notes due 2043 496 499 3.70% Notes due 2046 1,977 1,758 3.75% Notes due 2047 811 871 3.50% Notes due 2048 743 640 2.25% Notes due 2050 807 666 2.45% Notes due 2060 1,053 811 5.50% Debentures due 2025* 748 752 5.35% Debentures due 2026* 747 756 5.05% Debentures due 2028* 994 1,006 5.00% Debentures due 2030* 992 1,006 4.90% Debentures due 2033* 1,240 1,264 5.10% Debentures due 2043* 741 763 5.05% Debentures due 2053* 1,476 1,531 5.20% Debentures due 2063* 738 765 Other 66 66 Total Non-Current Debt $ 33,901 32,877 *Tranches related to Kenvue The weighted average effective interest rate on non-current debt is 3.54%. The excess of the carrying value over the estimated fair value of debt was $1.6 billion at January 1, 2023. Fair value of the non-current debt was estimated using market prices, which were corroborated by quoted broker prices and significant other observable inputs. In March 2023, Kenvue priced an offering of senior unsecured notes (the Notes) in an aggregate principal amount of $7.75 billion (tranches with an * in the above table). The Notes were initially fully and unconditionally guaranteed (the Guarantees) on a senior unsecured basis by the Company. The Guarantees terminated on April 5, 2023, upon completion of the Consumer Health Business transfer.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The worldwide effective income tax rates for the fiscal six months of 2023 and 2022 were 15.8% and 14.9%, respectively. The increase in the consolidated tax rate is primarily due to the planned separation of the Company’s Consumer Health business. The Company has recognized approximately $0.6 billion in incremental international tax costs due to the reorganization of certain international subsidiaries which was recorded in the fiscal second quarter. The Company also had more income in lower tax jurisdictions relative to higher tax jurisdictions versus the prior year, due primarily to the approximately $7 billion charge related to the talc settlement proposal in the United States at an effective tax rate of 23.5% in the fiscal six months of 2023 (for further information see Note 11 to the Consolidated Financial Statements). Additionally, the prior year’s effective tax rate benefited from the impact of certain provisions of the Tax Cuts and Jobs Act of 2017 that became effective in 2022, which were partially offset by one-time tax costs in the fiscal six months of 2022. On July 21, 2023, the IRS issued Notice 2023-55 which provides guidance to taxpayers in determining whether a foreign tax is eligible for a U.S. foreign tax credit for tax years 2022 and 2023, specifically delaying until 2024 the application of unfavorable foreign tax credit regulations that were originally issued late last year. As a result of this new guidance, the Company has concluded that it is applicable to certain of its tax positions and therefore will record a tax benefit of approximately $0.5 billion in the fiscal third quarter of 2023. The Company also received tax benefits from stock-based compensation that were either exercised or vested during each of the fiscal six months ended. As of July 2, 2023, the Company had approximately $3.0 billion of liabilities from unrecognized tax benefits. The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress in a number of jurisdictions. With respect to the United States, the IRS has completed its audit for the tax years through 2012 and is currently auditing tax years 2013 through 2016. The Company currently expects completion of this audit and settlement of the related tax liabilities in the next 12 months. As a result, the Company has classified approximately $0.5 billion of unrecognized tax benefits and associated interest as a current liability on the “Accrued taxes on Income” line of the Consolidated Balance Sheet as of the end of the second fiscal quarter of 2023 in anticipation of final settlement. The Company made a payment in the fiscal second quarter for approximately $1.4 billion to the U.S. Treasury for the previously reserved estimated liability of the 2013-2016 IRS Audit. The completion of this tax audit may result in additional adjustments to the Company’s unrecognized tax benefit liability. In other major jurisdictions where the Company conducts business, the years that remain open to tax audit go back to the year 2008. The Company believes it is possible that some tax audits may be completed over the next twelve months by taxing authorities in some jurisdictions. However, the Company is not able to provide a reasonably reliable estimate of the timing of any other future tax payments relating to uncertain tax positions.

Pensions and Other Benefit Plan

Pensions and Other Benefit Plans	6 Months Ended
	Jul. 02, 2023
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 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Service cost $ 216 319 69 80 428 640 137 160 Interest cost 373 229 55 27 727 459 109 53 Expected return on plan assets (694) (693) (2) (2) (1,362) (1,392) (3) (4) Amortization of prior service cost/(credit) (46) (46) (1) (2) (92) (92) (1) (3) Recognized actuarial (gains) losses (50) 167 7 31 (100) 329 13 61 Curtailments and settlements — — — — — 1 — — Net periodic benefit cost/(credit) $ (201) (24) 128 134 (399) (55) 255 267 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, including Cost of products sold, Research and development expense, and Selling, marketing and administrative expenses. 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 2, 2023, the Company contributed $58 million and $12 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. 02, 2023
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 1, 2023 $ (11,813) (27) (897) (230) (12,967) Net change (896) 21 (138) 297 (716) Amount attributable to non-controlling interest 548 548 July 2, 2023 $ (12,161) (6) (1,035) 67 (13,135) 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. 02, 2023
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 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Basic net earnings per share $ 1.98 1.83 1.95 3.79 Average shares outstanding — basic 2,598.4 2,629.6 2,601.9 2,629.4 Potential shares exercisable under stock option plans 95.2 143.7 96.9 141.8 Less: shares which could be repurchased under treasury stock method (67.9) (105.4) (68.1) (102.0) Average shares outstanding — diluted 2,625.7 2,667.9 2,630.7 2,669.2 Diluted net earnings per share $ 1.96 1.80 1.93 3.73 The diluted net earnings per share calculation for the fiscal second quarter ended July 2, 2023 excluded 50.8 million shares related to stock options, as the exercise price of these options was greater than the average market value of the Company’s stock. The diluted net earnings per share calculation for the fiscal second quarter ended July 3, 2022 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. The diluted net earnings per share calculation for the fiscal six months ended July 2, 2023 excluded 46.8 million shares related to stock options, as the exercise price of these options was greater than the average market value of the Company’s stock. The diluted net earnings per share calculation for the fiscal six months ended July 3, 2022 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.

Segments of Business and Geogra

Segments of Business and Geographic Areas	6 Months Ended
	Jul. 02, 2023
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 2, July 3, Percent July 2, July 3, Percent Change CONSUMER HEALTH OTC U.S. $ 712 663 7.5 % $ 1,457 1,333 9.3 % International 947 818 15.7 1,844 1,609 14.6 Worldwide 1,659 1,482 12.0 3,301 2,943 12.2 Skin Health/Beauty U.S. 650 629 3.4 1,267 1,173 8.0 International 498 497 0.3 991 965 2.7 Worldwide 1,148 1,126 2.0 2,258 2,138 5.6 Oral Care U.S. 173 170 1.7 332 313 6.2 International 225 224 0.3 427 447 (4.7) Worldwide 398 394 0.9 759 760 (0.2) Baby Care U.S. 99 88 12.5 195 173 12.7 International 261 287 (9.1) 524 557 (6.0) Worldwide 360 375 (4.0) 719 730 (1.6) Women’s Health U.S. 4 3 (2.1) 7 7 (0.1) International 235 228 3.5 449 452 (0.7) Worldwide 238 230 3.4 455 458 (0.6) Wound Care/Other U.S. 149 133 12.3 264 245 7.9 International 58 65 (10.3) 107 117 (8.4) Worldwide 207 197 4.9 371 361 2.6 TOTAL CONSUMER HEALTH U.S. 1,787 1,687 6.0 3,522 3,244 8.6 International 2,224 2,118 5.0 4,341 4,147 4.7 Worldwide 4,011 3,805 5.4 7,863 7,391 6.4 PHARMACEUTICAL Immunology U.S. 2,865 2,853 0.4 5,313 5,354 (0.8) International 1,631 1,559 4.7 3,295 3,176 3.8 Worldwide 4,496 4,411 1.9 8,608 8,530 0.9 REMICADE U.S. 277 391 (29.3) 553 749 (26.2) U.S. Exports 33 44 (24.9) 74 124 (40.3) International 152 212 (28.2) 322 437 (26.2) Worldwide 462 647 (28.6) 949 1,310 (27.5) SIMPONI / SIMPONI ARIA U.S. 285 301 (5.1) 556 588 (5.4) International 244 266 (8.2) 510 549 (7.1) Worldwide 529 566 (6.6) 1,066 1,137 (6.2) STELARA U.S. 1,817 1,731 4.9 3,268 3,110 5.1 International 981 868 13.0 1,974 1,777 11.1 Worldwide 2,797 2,599 7.6 5,241 4,887 7.2 TREMFYA U.S. 450 382 17.8 856 773 10.7 International 255 214 19.4 489 413 18.4 Worldwide 706 597 18.3 1,346 1,187 13.4 OTHER IMMUNOLOGY U.S. 4 3 17.8 7 9 (30.2) International 0 0 — 0 0 — Worldwide 4 3 17.8 7 9 (30.2) Infectious Diseases U.S. 395 415 (4.9) 787 876 (10.2) International 727 901 (19.4) 1,920 1,737 10.5 Worldwide 1,121 1,316 (14.8) 2,707 2,613 3.6 COVID-19 VACCINE U.S. — 45 * — 120 * International 285 499 (43.0) 1,032 881 17.1 Worldwide 285 544 (47.7) 1,032 1,001 3.0 EDURANT / rilpivirine U.S. 8 9 (9.0) 17 18 (5.3) International 258 215 19.9 529 454 16.4 Worldwide 266 225 18.6 546 473 15.6 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 382 355 7.6 760 724 5.0 International 109 110 (0.2) 208 242 (13.9) Worldwide 491 464 5.8 968 965 0.3 OTHER INFECTIOUS DISEASES U.S. 5 6 (27.2) 10 14 (30.6) International 74 77 (3.5) 151 160 (5.6) Worldwide 79 83 (5.2) 161 174 (7.6) Neuroscience U.S. 1,029 896 14.9 2,007 1,739 15.4 International 764 837 (8.8) 1,590 1,735 (8.4) Worldwide 1,793 1,734 3.5 3,597 3,475 3.5 CONCERTA / methylphenidate U.S. 64 38 68.2 134 73 84.0 International 143 123 16.3 279 245 13.9 Worldwide 208 161 28.6 414 318 30.0 INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 721 691 4.3 1,434 1,352 6.0 International 310 362 (14.4) 641 749 (14.5) Worldwide 1,031 1,054 (2.1) 2,075 2,102 (1.3) SPRAVATO U.S. 144 74 93.2 255 135 88.3 International 25 11 * 45 20 * Worldwide 169 85 98.2 300 155 93.1 OTHER NEUROSCIENCE (1) U.S. 100 93 9.3 184 179 3.1 International 286 341 (16.4) 625 721 (13.4) Worldwide 386 433 (10.9) 809 900 (10.1) Oncology U.S. 2,069 1,679 23.2 3,958 3,261 21.4 International 2,329 2,362 (1.4) 4,552 4,731 (3.8) Worldwide 4,398 4,042 8.8 8,510 7,992 6.5 CARVYKTI U.S. 114 24 * 184 24 * International 3 — * 5 — * Worldwide 117 24 * 189 24 * DARZALEX U.S. 1,322 1,021 29.5 2,513 1,974 27.3 International 1,110 965 15.0 2,182 1,868 16.8 Worldwide 2,431 1,986 22.4 4,695 3,842 22.2 ERLEADA U.S. 241 233 3.6 490 439 11.8 International 326 218 49.7 619 412 50.3 Worldwide 567 450 25.9 1,109 850 30.4 IMBRUVICA U.S. 262 349 (24.9) 532 719 (26.0) International 579 620 (6.7) 1,136 1,288 (11.8) Worldwide 841 970 (13.2) 1,668 2,008 (16.9) ZYTIGA / abiraterone acetate U.S. 9 19 (55.2) 25 38 (34.7) International 218 486 (55.1) 447 1,006 (55.6) Worldwide 227 505 (55.1) 472 1,044 (54.8) OTHER ONCOLOGY U.S. 122 33 * 214 67 * International 92 72 27.8 162 156 3.6 Worldwide 214 106 * 376 224 68.0 Pulmonary Hypertension U.S. 684 560 22.0 1,284 1,132 13.4 International 289 284 2.0 561 563 (0.4) Worldwide 972 843 15.3 1,844 1,695 8.8 OPSUMIT U.S. 328 265 23.7 601 538 11.6 International 179 173 3.4 346 343 0.9 Worldwide 507 438 15.7 947 881 7.5 UPTRAVI U.S. 338 272 24.2 642 541 18.7 International 61 56 10.0 119 112 6.6 Worldwide 399 328 21.8 761 653 16.6 OTHER PULMONARY HYPERTENSION U.S. 18 23 (23.8) 41 53 (23.0) International 48 55 (10.9) 95 108 (11.7) Worldwide 66 78 (14.7) 136 161 (15.5) Cardiovascular / Metabolism / Other U.S. 776 757 2.6 1,491 1,429 4.3 International 174 215 (19.0) 386 453 (14.7) Worldwide 950 972 (2.2) 1,877 1,882 (0.3) XARELTO U.S. 637 609 4.7 1,215 1,117 8.8 International — — — — — — Worldwide 637 609 4.7 1,215 1,117 8.8 OTHER (2) U.S. 138 148 (6.3) 275 312 (11.8) International 174 215 (19.0) 386 453 (14.7) Worldwide 313 363 (13.8) 662 765 (13.5) TOTAL PHARMACEUTICAL U.S. 7,818 7,159 9.2 14,841 13,791 7.6 International 5,913 6,158 (4.0) 12,303 12,395 (0.7) Worldwide 13,731 13,317 3.1 27,144 26,186 3.7 MEDTECH Interventional Solutions U.S. 908 525 73.1 1,771 1,019 73.8 International 712 525 35.7 1,352 1,123 20.5 Worldwide 1,620 1,049 54.4 3,123 2,141 45.8 ELECTROPHYSIOLOGY U.S. 609 499 22.0 1,180 969 21.7 International 587 469 25.1 1,109 1,001 10.8 Worldwide 1,196 968 23.5 2,288 1,970 16.2 ABIOMED (3) U.S. 272 — * 536 — * International 59 — * 119 — * Worldwide 331 — * 655 — * OTHER INTERVENTIONAL SOLUTIONS U.S. 27 26 4.5 55 51 10.8 International 67 56 20.0 125 121 2.8 Worldwide 93 81 15.1 180 171 5.1 Orthopaedics U.S. 1,388 1,338 3.7 2,751 2,627 4.7 International 878 820 7.0 1,759 1,719 2.3 Worldwide 2,265 2,157 5.0 4,510 4,345 3.8 HIPS U.S. 250 240 4.1 491 465 5.6 International 147 148 (0.8) 296 312 (5.1) Worldwide 397 388 2.2 787 777 1.3 KNEES U.S. 221 216 2.4 447 417 7.2 International 142 133 6.3 284 271 4.8 Worldwide 363 349 3.9 731 688 6.3 TRAUMA U.S. 483 464 4.3 974 939 3.7 International 255 232 9.9 522 505 3.2 Worldwide 739 696 6.1 1,496 1,444 3.6 SPINE, SPORTS & OTHER U.S. 433 418 3.5 839 805 4.1 International 334 306 9.0 657 630 4.2 Worldwide 766 724 5.8 1,495 1,436 4.2 Surgery U.S. 1,015 992 2.2 1,990 1,913 4.0 International 1,580 1,458 8.4 3,039 2,971 2.3 Worldwide 2,594 2,450 5.9 5,028 4,884 3.0 ADVANCED U.S. 466 454 2.7 910 871 4.5 International 757 702 7.8 1,430 1,431 0.0 Worldwide 1,222 1,156 5.8 2,340 2,302 1.7 GENERAL U.S. 548 538 1.9 1,079 1,042 3.6 International 823 756 8.9 1,608 1,540 4.5 Worldwide 1,372 1,294 6.0 2,688 2,582 4.1 Vision U.S. 529 496 6.6 1,087 1,017 6.9 International 778 745 4.6 1,521 1,481 2.7 Worldwide 1,308 1,241 5.4 2,608 2,498 4.4 CONTACT LENSES / OTHER U.S. 409 374 9.1 853 774 10.1 International 530 519 2.2 1,039 1,030 0.9 Worldwide 939 894 5.1 1,892 1,804 4.9 SURGICAL U.S. 120 122 (1.1) 234 243 (3.6) International 249 225 10.1 482 451 6.7 Worldwide 369 347 6.2 716 694 3.1 TOTAL MEDTECH U.S. 3,839 3,351 14.6 7,598 6,576 15.5 International 3,949 3,547 11.3 7,671 7,293 5.2 Worldwide 7,788 6,898 12.9 15,269 13,869 10.1 WORLDWIDE U.S. 13,444 12,197 10.2 25,961 23,611 10.0 International 12,086 11,823 2.2 24,315 23,835 2.0 Worldwide $ 25,530 24,020 6.3 % $ 50,276 47,446 6.0 % *Percentage greater than 100% or not meaningful (1) Inclusive of RISPERDAL CONSTA which was previously disclosed separately (2) Inclusive of INVOKANA which was previously disclosed separately (3) Acquired on December 22, 2022 EARNINGS BEFORE PROVISION FOR TAXES BY SEGMENT Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 2, July 3, Percent July 2, July 3, Percent Consumer Health (1) $ 860 784 9.7 % $ 1,636 1,470 11.3% Pharmaceutical (2) 4,862 4,420 10.0 9,306 8,344 11.5 MedTech (3) 1,699 1,141 48.9 3,144 2,618 20.1 Segment earnings before provision for taxes 7,421 6,345 17.0 14,086 12,432 13.3 Less: Expense not allocated to segments (4) 377 237 7,479 360 Less: Consumer Health separation costs 282 268 582 370 Worldwide income before tax $ 6,762 5,840 15.8% $ 6,025 11,702 (48.5) % *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 2023 and 2022. Intangible amortization expense of $0.2 billion in both the fiscal six months of 2023 and 2022. (2) Pharmaceutical includes: • Intangible amortization expense of $0.7 billion in both the fiscal second quarter of 2023 and 2022. Intangible amortization expense of $1.5 billion in both the fiscal six months of 2023 and 2022. • One-time COVID-19 Vaccine related exit costs of $0.2 billion and $0.3 billion in the fiscal second quarter of 2023 and 2022, respectively. One-time COVID-19 Vaccine related exit costs of $0.6 billion and $0.3 billion in the fiscal six months of 2023 and 2022, respectively. • A restructuring related charge of $0.1 billion and $0.3 billion in the fiscal second quarter and fiscal six months of 2023, respectively. • In the fiscal six months of 2022, the Company recorded an intangible asset impairment charge of approximately $0.6 billion related to an in-process research and development asset, bermekimab (JnJ-77474462), an investigational drug for the treatment of Atopic Dermatitis (AD) and Hidradenitis Suppurativa (HS). • Unfavorable changes in the fair value of securities of $0.1 billion in the fiscal second quarter of 2022. Unfavorable changes in the fair value of securities of $0.1 billion and $0.5 billion in the fiscal six months of 2023 and 2022, respectively. • Favorable litigation related items of $0.1 billion in both the fiscal second quarter and fiscal six months of 2023. (3) MedTech includes: • Intangible amortization expense of $0.4 billion and $0.3 billion in the fiscal second quarter of 2023 and 2022, respectively. Intangible amortization expense of $0.8 billion and $0.5 billion in the fiscal six months of 2023 and 2022, respectively. • Net favorable litigation matters of $0.2 billion in both the fiscal second quarter and fiscal six months of 2023 and $0.3 billion of expense in both the fiscal second quarter and fiscal six months of 2022. • Acquisition and integration related expense of $0.1 billion in the fiscal six months of 2023. • A restructuring related charge of $0.1 billion in the fiscal second quarter of 2022 and $0.2 billion in the fiscal six months of 2022. (4) Amounts not allocated to segments include interest income/expense and general corporate income/expense. The fiscal six months of 2023 includes an approximately $7 billion incremental charge primarily related to the talc settlement proposal. See Note 11, Legal Proceedings, for additional details. SALES BY GEOGRAPHIC AREA Fiscal Second Quarter Ended Fiscal Six Months Ended (Dollars in Millions) July 2, 2023 July 3, 2022 Percent July 2, 2023 July 3, 2022 Percent Change United States $ 13,444 12,197 10.2 % $ 25,961 23,611 10.0 % Europe 5,894 6,085 (3.1) 12,226 12,109 1.0 Western Hemisphere, excluding U.S. 1,713 1,536 11.5 3,300 3,018 9.3 Asia-Pacific, Africa 4,479 4,202 6.6 8,789 8,708 0.9 Total $ 25,530 24,020 6.3 % $ 50,276 47,446 6.0 %

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jul. 02, 2023
Business Combinations [Abstract]
Acquisitions and Divestitures	ACQUISITIONS AND DIVESTITURES There were no material acquisitions or divestitures in the fiscal first quarter or fiscal second quarter of 2023. On December 22, 2022, the Company completed the acquisition of Abiomed, a leading, first-to-market provider of cardiovascular medical technology with a first-in-kind portfolio for the treatment of coronary artery disease and heart failure which also has an extensive innovation pipeline of life-saving technologies. The transaction broadens the Company’s position as a growing cardiovascular innovator, advancing the standard of care in heart failure and recovery, one of healthcare’s largest areas of unmet need. The transaction was accounted for as a business combination and the results of operations were included in the MedTech segment as of the date of the acquisition. The acquisition was completed through a tender offer for all outstanding shares. The consideration paid in the acquisition consisted of an upfront payment of $380.00 per share in cash, amounting to $17.1 billion, net of cash acquired, as well as a non-tradeable contingent value right (CVR) entitling the holder to receive up to $35.00 per share in cash (which with respect to the CVRs total approximately $1.6 billion in the aggregate) if certain commercial and clinical milestones are achieved. The corresponding enterprise value (without taking into account the CVRs) of approximately $16.5 billion includes cash, cash equivalents and marketable securities acquired. The milestones of the CVR consist of: a. $17.50 per share, payable if net sales for Abiomed products exceeds $3.7 billion during Johnson & Johnson’s fiscal second quarter of 2027 through fiscal first quarter of 2028, or if this threshold is not met during this period and is subsequently met during any rolling four quarter period up to the end of Johnson & Johnson’s fiscal first quarter of 2029, $8.75per share; b. $7.50 per share payable upon FDA premarket application approval of the use of Impella products in ST-elevated myocardial infarction (STEMI) patients without cardiogenic shock by January 1, 2028; and c. $10.00 per share payable upon the first publication of a Class I recommendation for the use of Impella products in high risk PCI or STEMI with or without cardiogenic shock within four years from their respective clinical endpoint publication dates, but in all cases no later than December 31, 2029. The fair value of the acquisition was initially allocated to assets acquired of $19.9 billion (net of $0.3 billion cash acquired), primarily to goodwill for $10.9 billion, amortizable intangible assets for $6.6 billion, IPR&D for $1.1 billion, marketable securities of $0.6 billion and liabilities assumed of $2.8 billion, which includes the fair value of the contingent consideration mentioned above for $0.7 billion and deferred taxes of $1.8 billion. The goodwill is primarily attributable to the commercial acceleration and expansion of the portfolio and is not expected to be deductible for tax purposes. The contingent consideration was recorded in Other Liabilities on the Consolidated Balance Sheet. As the acquisition occurred in December 2022, the Company is still finalizing the allocation of the purchase price to the individual assets acquired and liabilities assumed. The allocation of the purchase price included in the current period balance sheet is based on the best estimate of management and is preliminary and subject to change. To assist management in the allocation, the Company engaged valuation specialists to prepare appraisals. The Company will finalize the amounts recognized as the information necessary to complete the analysis is obtained. The Company expects to finalize these amounts as soon as possible but no later than one year from the acquisition date. In the fiscal first quarter of 2023, there were purchase price allocation adjustments netting to approximately $0.1 billion with an offsetting increase to goodwill. In the fiscal second quarter of 2023, there were no purchase price allocation adjustments. The amortizable intangible assets were primarily comprised of already in-market products of the Impella platform with an average weighted life of 14 years. The IPR&D assets were valued for technology programs for unapproved products. The value of the IPR&D was calculated using probability-adjusted cash flow projections discounted for the risk inherent in such projects. The probability of success factor ranged from 52% to 70%. The discount rate applied was 9.5%. In 2022, the Company recorded acquisition related costs before tax of approximately $0.3 billion, which was recorded in Other (income)/expense. In the fiscal six months of 2023, the Company recorded acquisition related costs before tax of approximately $0.1 billion, which was primarily recorded in Other (income)/expense.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jul. 02, 2023
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; indemnification and other matters; governmental investigations; and other legal proceedings that arise from time to time in the ordinary course of their business. 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 2, 2023, 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. MATTERS CONCERNING TALC A significant number of personal injury claims alleging that talc causes cancer were made against Johnson & Johnson Consumer Inc. and the Company arising out of the use of body powders containing talc, primarily JOHNSON’S Baby Powder. The number of these personal injury lawsuits, filed in state and federal courts in the United States as well as outside of the United States, continued to increase. 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 settled cases. In October 2021, Johnson & Johnson Consumer Inc. (Old JJCI) implemented a corporate restructuring (the 2021 Corporate Restructuring). As a result of that restructuring, Old JJCI ceased to exist and three new entities were created: (a) LTL Management LLC, a North Carolina limited liability company (LTL or Debtor); (b) Royalty A&M LLC, a North Carolina limited liability company and a direct subsidiary of LTL (RAM); and (c) the Debtor’s direct parent, Johnson & Johnson Consumer Inc., a New Jersey company (New JJCI). The Debtor received certain of Old JJCI’s assets and became solely responsible for the talc-related liabilities of Old JJCI, including all liabilities related in any way to injury or damage, or alleged injury or damage, sustained or incurred in the purchase or use of, or exposure to, talc, including talc contained in any product, or to the risk of, or responsibility for, any such damage or injury, except for any liabilities for which the exclusive remedy is provided under a workers’ compensation statute or act (the Talc-Related Liabilities). In October 2021, notwithstanding the Company’s confidence in the safety of its talc products, the Debtor filed a voluntary petition with the United States Bankruptcy Court for the Western District of North Carolina, Charlotte Division, seeking relief under chapter 11 of the Bankruptcy Code (the LTL Bankruptcy Case). All litigation against LTL, Old JJCI, New JJCI, the Company, other of their corporate affiliates, identified retailers, insurance companies, and certain other parties (the Protected Parties) was stayed, although LTL did agree to lift the stay on a small number of appeals where appeal bonds had been filed. The LTL Bankruptcy Case was transferred to the United States Bankruptcy Court for the District of New Jersey. Claimants filed motions to dismiss the LTL Bankruptcy Case and, following a multiple day hearing, the New Jersey Bankruptcy Court denied those motions in March 2022. The claimants subsequently filed notices of appeal as to the denial of the motions to dismiss the LTL Bankruptcy Case and the extension of the stay to the Protected Parties. On January 30, 2023, the Third Circuit reversed the Bankruptcy Court’s ruling and remanded to the Bankruptcy Court to dismiss the LTL bankruptcy. LTL filed a petition for rehearing of the Third Circuit’s decision, which was denied in March 2023. LTL subsequently filed a motion in the Third Circuit to stay the mandate directing the New Jersey Bankruptcy Court to dismiss the LTL bankruptcy pending filing and disposition of a petition for writ of certiorari to the United States Supreme Court. The Third Circuit denied the motion to stay the mandate and issued the mandate. In April 2023, the New Jersey Bankruptcy Court dismissed the LTL Bankruptcy Case, effectively lifting the stay as to all parties and returning the talc litigation to the tort system. LTL re-filed in the United States Bankruptcy Court for the District of New Jersey seeking relief under chapter 11 of the Bankruptcy Code (the LTL 2 Bankruptcy Case). As a result of the new filing, all talc claims against LTL were again automatically stayed pursuant to section 362 of the Bankruptcy Code. Additionally, the New Jersey Bankruptcy Court issued a temporary restraining order staying all litigation as to LTL, Old JJCI, New JJCI, the Company, identified retailers, and certain other parties (the New Protected Parties). Also in April 2023, the New Jersey Bankruptcy Court issued a decision that granted limited injunctive relief to the Company and the New Protected Parties (the LTL 2 Preliminary Injunction). The LTL 2 Preliminary Injunction remains in force until late August 2023, following the Bankruptcy Court’s extension of the initial LTL 2 Preliminary Injunction in June 2023. Under the LTL 2 Preliminary Injunction, except for in those cases filed in the federal court ovarian cancer multi-district litigation, discovery in all personal injury and wrongful death matters is permitted to proceed. No trials may occur in any of the personal injury and wrongful death matters except for the Valadez trial after the Bankruptcy Court partially lifted the stay for Valadez and allowed it to proceed to trial. In July 2023, the jury returned a verdict in favor of Valadez for $18.8 million in compensatory damages but declined to award punitive damages. The Company will appeal. The terms of the court’s lifting of the automatic stay will prevent any collection of judgment. Furthermore, in April 2023, the Talc Claimants' Committee filed a motion to dismiss the LTL 2 Bankruptcy followed by similar motions from other claimants. Hearings on the motions to dismiss occurred in June 2023. On July 28, 2023, the court dismissed the LTL 2 Bankruptcy case and, the same day, the Company stated its intent to appeal the decision and to continue its efforts to obtain a resolution of the talc claims. In the original bankruptcy case, the Company agreed to provide funding to LTL for the payment of amounts the New Jersey Bankruptcy Court determines are owed by LTL and the establishment of a $2 billion trust in furtherance of this purpose. The Company established a reserve for approximately $2 billion in connection with the aforementioned trust. After and as a result of the filing of the LTL Bankruptcy Case, the Company de-consolidated LTL through the second fiscal quarter, which is a related party. The impact of the de-consolidation is not material to the Company. In the LTL 2 Bankruptcy Case, the Company had agreed to contribute an additional amount which, when added to the prior $2 billion, would be a total reserve of present value of approximately $9 billion payable over 25 years (nominal value approximately $12 billion discounted at a rate of 4.41%), to resolve all the current and future talc claims. The approximate $9 billion reserve remains the Company’s estimate of probable loss after the dismissal. The parties have not yet reached a resolution of all talc matters and the Company is unable to estimate the possible loss or range of loss beyond the amount accrued. A class action advancing claims relating to industrial talc was filed against the Company and others in New Jersey state court in May 2022 (the Edley Class Action). The Edley Class Action asserts, among other things, that the Company fraudulently defended past asbestos personal injury lawsuits arising from exposure to industrial talc mined, milled, and manufactured before January 6, 1989 by the Company’s then wholly owned subsidiary, Windsor Minerals, Inc., which is currently a debtor in the Imerys Bankruptcy described hereafter. The Company removed the Edley Class Action to federal court in the District of New Jersey. In October 2022, the Company filed motions to dismiss and to deny certification of a class to pursue the Edley Class Action in the New Jersey District Court. 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 petition under chapter 11 of the United States Code (the Bankruptcy Code) in the United States Bankruptcy Court for the District of Delaware (Imerys Bankruptcy). The Imerys Bankruptcy relates to Imerys’s potential liability for personal injury from exposure to talcum powder sold by Imerys. In its bankruptcy, Imerys alleges it has claims against the Company for indemnification and rights to joint insurance proceeds. In June 2020, Cyprus Mines Corporation and its parent, Cyprus Amax Minerals Company (CAMC) (together, Cyprus), which had owned certain Imerys talc mines, filed an adversary proceeding against the Company and Imerys in the Imerys Bankruptcy seeking a declaration of indemnity rights under certain contractual agreements (the Cyprus Adversary Proceeding). The Company denies such indemnification is owed and filed a motion to dismiss the adversary complaint. In February 2021, Cyprus filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code and filed its Disclosure Statement and Plan (the Cyprus Plan). The Cyprus Plan contemplates a settlement with Imerys and talc claimants where Cyprus would make a monetary contribution to a trust established under the Imerys Plan in exchange for an injunction against talc claims asserted against it and certain protected parties. Cyprus has not yet sought approval of its Disclosure Statement and Plan. Cyprus, along with the Tort Claimants’ Committee (TCC) and Future Claimants’ Representative (FCR) appointed in the Cyprus chapter 11 case, have agreed to participate in the mediation with the Mediation Parties. In October 2021, the Company filed a Notice of Bankruptcy Filing and Stay of Proceedings clarifying that the automatic stay arising upon the filing of the LTL Bankruptcy Case should apply to the Cyprus Adversary Proceeding. In June 2022, Cyprus commenced an Adversary Proceeding in its chapter 11 case seeking an order enforcing the automatic stay by enjoining parties from commencing or continuing “talc-related claims” against CAMC. In June 2022, the court entered a preliminary injunction order enjoining claimants from pursuing talc-related claims against CAMC through January 2023. The court subsequently extended the preliminary injunction through the end of July 2023. In June 2023, Cyprus filed a motion seeking to further extend the preliminary injunction through the end of February 2024. Imerys, the TCC, the FCR, certain of Imerys’s insurers, and certain parties in the Cyprus Mines chapter 11 case (collectively the Mediation Parties) have been engaged in mediation since October 2021. In June 2023, the bankruptcy court entered an order extending the term of the mediation through the end of July 2023. In July 2021, Imerys commenced an adversary proceeding against the Company in the Imerys Bankruptcy (the Imerys Adversary Proceeding). The Imerys Adversary Proceeding sought, among other things, certain declarations with respect to the indemnification obligations allegedly owed by the Company to Imerys. The Company filed a motion to dismiss the adversary proceeding. 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. 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 the Company and certain named officers in the United States District Court for the District of New Jersey, alleging that the Company 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 the Company’s shares suffered losses as a result. In April 2019, the Company moved to dismiss the complaint. In December 2019, the Court denied, in part, the motion to dismiss. In April 2021, briefing on Plaintiff’s motion for class certification was completed. The case was stayed in May 2022 pursuant to the LTL Bankruptcy Case and was reopened in May 2023. Defendants have requested that further fact discovery be stayed until the Court rules on Plaintiff’s motion for class certification. 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 the Company 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. Plaintiffs filed their opening brief in July 2021. The company filed its responsive brief in October 2021. After the Notice of Suggestion of Bankruptcy was filed with the Ninth Circuit, a stay was imposed, and the Court held the reply deadline in abeyance. The appeal continues to be held in abeyance, with the Company being required to file periodic status updates. In June 2014, the Mississippi Attorney General filed a complaint in Chancery Court of The First Judicial District of Hinds County, Mississippi against the Company and Johnson & Johnson Consumer Companies, Inc. (now known as Johnson & Johnson Consumer Inc.) (collectively, JJCI). The complaint alleges that JJCI violated the Mississippi Consumer Protection Act by failing to disclose alleged health risks associated with female consumers’ use of talc contained in JOHNSON’S Baby Powder and JOHNSON’S Shower to Shower (a product divested in 2012) and seeks injunctive and monetary relief. In February 2022, the trial court set the case for trial to begin in February 2023. However, in October 2022, the LTL bankruptcy court issued an order staying the case. In March 2023, the Third Circuit issued the mandate to dismiss the LTL Bankruptcy Case and in April 2023, the New Jersey Bankruptcy Court dismissed the LTL Bankruptcy Case, effectively lifting the stay as to this matter. The State requested a new trial setting. Later in April 2023, the trial court set a new trial date in April 2024. The parties are currently engaged in expert work, extensive discovery, and preparations for the upcoming trial. In January 2020, the State of New Mexico filed a consumer protection case alleging that the Company deceptively marketed and sold its talcum powder products by making misrepresentations about the safety of the products and the presence of carcinogens, including asbestos. In March 2022, the New Mexico court denied the Company’s motion to compel the State of New Mexico to engage in discovery of state agencies and denied the Company’s request for interlocutory appeal of that decision. The Company then filed a Petition for Writ of Superintending Control and a Request for a Stay to the New Mexico Supreme Court on the issue of the State of New Mexico’s discovery obligations. In April 2022, in view of the efforts to resolve talc-related claims in the LTL Bankruptcy Case, the Company and the State agreed to a 60-day stay of all matters except for the pending writ before the New Mexico Supreme Court, which expired in June 2022. Thereafter, the Company moved to enjoin prosecution of the case in the LTL Bankruptcy Case. In October 2022, the bankruptcy court issued an order staying the case. In December 2022, the State filed an appeal to the Third Circuit concerning the stay order. Separately, in September 2022, the New Mexico Supreme Court granted the Company's request for a stay pending further briefing on the scope of the State of New Mexico’s discovery obligations. In March 2023, the Third Circuit issued the mandate to dismiss the LTL Bankruptcy Case and in April 2023, the New Jersey Bankruptcy Court dismissed the LTL Bankruptcy Case, effectively lifting the stay as to this matter. However, this case remains stayed as a result of the New Mexico Supreme Court’s stay until such time as the Supreme Court issues an order concerning the State of New Mexico’s discovery obligations. Forty-two states and the District of Columbia (including Mississippi and New Mexico) have commenced a joint investigation into the Company’s marketing of its talcum powder products. At this time, the multi-state group has not asserted any claims against the Company. Five states have issued Civil Investigative Demands seeking documents and other information. The Company has produced documents to Arizona, North Carolina, Texas, and Washington and entered into confidentiality agreements. The Company has not received any follow up requests from those states. In March 2022, each of the forty-two states agreed to mediation of their claims in the LTL Bankruptcy Case. In July 2022, New Mexico and Mississippi indicated they would no longer voluntarily submit to further mediation in the LTL Bankruptcy and would proceed with their respective cases in state court. In March 2023, the mediation was terminated. The procedural history and status of the New Mexico and Mississippi matters specifically have been discussed above. In addition, the Company has received inquiries, subpoenas, and requests to produce documents regarding talc matters and the LTL Bankruptcy Case from various governmental authorities. The Company has produced documents and responded to inquiries, and will continue to cooperate with government inquiries. MATTERS CONCERNING OPIOIDS Beginning in 2014 and continuing to the present, the Company and Janssen Pharmaceuticals, Inc. (JPI), along with other pharmaceutical companies, have been named in close to 3,500 lawsuits related to the marketing of opioids, including DURAGESIC, NUCYNTA and NUCYNTA ER. The majority of the cases have been filed by state and local governments. Similar lawsuits have also been filed by private plaintiffs and organizations, including but not limited to the following: individual plaintiffs on behalf of children born with Neonatal Abstinence Syndrome (NAS); hospitals; and health insurers/payors. To date, the Company and JPI have litigated two of the cases to judgment and have prevailed in both, either at trial or on appeal. In October 2019, the Company announced a proposed agreement in principle with a negotiating committee of state Attorneys General to settle all remaining government opioid litigation claims nationwide. Under the final national settlement agreement, which was announced in July 2021, the Company agreed to pay up to $5.0 billion to resolve all opioid lawsuits and future opioid claims by states, cities, counties, local school districts and other special districts, and tribal governments, contingent on sufficient participation by eligible government entities, and with credits back for entities that declined or were ineligible to participate. In July 2021, the Company announced that the terms of the agreement to settle the state and subdivision claims had been finalized and approximately 60% of the all-in settlement was paid by the second fiscal quarter of 2023. The expected payment schedule provides that approximately $0.6 billion of payments are to be paid by the end of the second fiscal quarter of 2024. The agreement is not an admission of liability or wrongdoing, and it provides for the release of all opioid-related claims against the Company, JPI, and their affiliates (including the Company’s former subsidiaries Tasmanian Alkaloids Pty, Ltd. and Noramco, Inc.). As of July 2023, the Company and JPI had settled or otherwise resolved the opioid claims advanced by all government entity claimants except the State of Washington and its subdivisions, the City of Baltimore, a number of school districts and other special district claimants, and a handful of others. The Company and JPI continue to defend the cases brought by the remaining government entity litigants as well as the cases brought by private litigants, including NAS claimants, hospitals, and health insurers/payors. Counting the private litigant cases, there are approximately 35 remaining opioid cases against the Company and JPI in various state courts, 475 remaining cases in the Ohio MDL, and 2 additional cases in other federal courts. Some of these cases have been dismissed and are being appealed by the plaintiffs; several others, including a case brought by DCH Health Systems in Alabama state court, are scheduled for trial in 2023, 2024, or 2025. In addition, the Province of British Columbia filed suit against the Company and its Canadian affiliate Janssen Inc., and many other industry members, in Canada, and is seeking to have that action certified as an opt in class action on behalf of other provincial/territorial and the federal governments in Canada. Additional proposed class actions have been filed in Canada against the Company and Janssen Inc., and many other industry members, by and on behalf of people who used opioids (for personal injuries), municipalities and First Nations bands. These actions allege a variety of claims related to opioid marketing practices, including false advertising, unfair competition, public nuisance, consumer fraud violations, deceptive acts and practices, false claims and unjust enrichment. An adverse judgment in any of these lawsuits could result in the imposition of large monetary penalties and significant damages including, punitive damages, cost of abatement, substantial fines, equitable remedies and other sanctions. From June 2017 through December 2019, the Company’s Board of Directors received a series of shareholder demand letters alleging breaches of fiduciary duties related to the marketing of opioids. The Board retained independent counsel to investigate the allegations in the demands, and in April 2020, independent counsel delivered a report to the Board recommending that the Company reject the shareholder demands and take the steps that are necessary or appropriate to secure dismissal of related derivative litigation. The Board unanimously adopted the recommendations of the independent counsel’s report. In November 2019, one of the shareholders who sent a demand filed a derivative complaint against the Company as the nominal defendant and certain current and former directors and officers as defendants in the Superior Court of New Jersey. The complaint alleges breaches of fiduciary duties related to the marketing of opioids, and that the Company has suffered damages as a result of those alleged breaches. A series of additional derivative complaints making similar allegations against the same and similar defendants were filed in New Jersey state and federal courts in 2019 and 2020. By 2022, all but two state court cases had been voluntarily dismissed. In February 2022, the state court granted the Company’s motion to dismiss one of the two cases, and the shareholder that brought the second case filed a notice of dismissal. The shareholder whose complaint was dismissed filed a motion for reconsideration. In May 2022, the state court held oral argument on the motion for reconsideration and subsequently denied the motion. The shareholder has appealed the state court’s dismissal order. PRODUCT LIABILITY The Company 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 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. 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 table below contains the most significant of these cases and provides the approximate number of plaintiffs in the United States with direct claims in pending lawsuits regarding injuries allegedly due to the relevant product or product category as of July 2, 2023: Product or product category Number of Plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 40,480 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 940 Pelvic meshes 7,160 ETHICON PHYSIOMESH Flexible Composite Mesh 910 RISPERDAL 240 ELMIRON 2,130 TYLENOL 520 The number of pending lawsuits is expected to fluctuate as certain lawsuits are settled or dismissed and additional lawsuits are filed. There may be additional claims that have not yet been filed. MedTech DePuy ASR XL Acetabular System and ASR Hip Resurfacing System In August 2010, DePuy Orthopaedics, Inc. (DePuy) announced a worldwide voluntary recall of its ASR XL Acetabular System and DePuy ASR Hip Resurfacing System (ASR Hip) used in hip replacement surgery. Claims for personal injury have been made against DePuy and the Company. 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 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 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 2013 and prior to February 15, 2017. This settlement program has resolved more than 10,000 claims, thereby 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 ASR Hip-related product liability litigation. DePuy PINNACLE Acetabular Cup System Claims for personal injury have also been made against DePuy Orthopaedics, Inc. and the Company (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. Most 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 (Texas MDL). Beginning on June 1, 2022, the Judicial Panel on Multidistrict Litigation ceased transfer of new cases into the Texas MDL, and there are now cases pending in federal court outside the Texas MDL. Litigation also has been fil

Kenvue Separation

Kenvue Separation	6 Months Ended
	Jul. 02, 2023
Discontinued Operations and Disposal Groups [Abstract]
Kenvue Separation	NOTE 12— KENVUE SEPARATION During the fiscal six months of 2023 the financial statements and accompanying footnotes continue to reflect the Company's consolidation of Kenvue. On May 8, 2023, Kenvue, completed an initial public offering (the IPO) of 198,734,444 shares of its common stock, par value $0.01 per share (the “Kenvue Common Stock”), including the underwriters’ full exercise of their option to purchase 25,921,884 shares to cover over-allotments, at an initial public offering price of $22.00 per share for net proceeds of $4.2 billion. Kenvue shares began trading on the New York Stock Exchange under the symbol “KVUE”. Additionally, on May 8, 2023, as partial consideration for the transfer of the Consumer Health business, Kenvue paid $13.2 billion to Johnson & Johnson from the net proceeds of the initial public offering and debt financing transactions (approximately $7.7 billion of unsecured notes and $1.2 billion of commercial paper) in connection with the separation (See Note 4 to the Consolidated Financial Statements for additional details). The excess of the net proceeds from the IPO over the net book value of the Johnson & Johnson divested interest was $2.5 billion and was recorded in additional paid-in capital. As of the closing of the IPO, Johnson & Johnson owns 1,716,160,000 shares of Kenvue Common Stock, or approximately 89.6% of the total outstanding shares of Kenvue Common Stock, and continues to consolidate the financial results of Kenvue. As of July 2, 2023, the non-controlling interest of $1.3 billion associated with Kenvue is reflected in equity attributable to non-controlling interests in the consolidated balance sheet. Other (income) expense, net on the consolidated statement of earnings for the fiscal second quarter and fiscal six months ended July 2, 2023, includes $37 million related to the 10.4% non-controlling interest in Kenvue from the time of the initial public offering on May 8, 2023 through the end of the fiscal second quarter. Subsequent to the fiscal second quarter on July 24, 2023, the Company announced its intention to split-off at least 80.1% of the shares of Kenvue through an exchange offer. Through the planned exchange offer, Johnson & Johnson shareholders can exchange all, some or none of their shares of Johnson & Johnson Common Stock for shares of Kenvue Common Stock, subject to the terms of the offer. The exchange offer will permit Johnson & Johnson shareholders to exchange some, all or none of their shares of Johnson & Johnson Common Stock for shares of Kenvue Common Stock at a 7% discount, subject to an upper limit of 8.0549 shares of Kenvue Common Stock per share of Johnson & Johnson Common Stock tendered and accepted in the exchange offer. If the upper limit is not in effect, tendering shareholders are expected to receive approximately $107.53 of Kenvue Common Stock for every $100 of Johnson & Johnson Common Stock tendered. Once the exchange offer is consummated (including all related transactions), the Company will no longer be the majority shareholder of Kenvue, and Kenvue will be a separate and independent company. The shares of Johnson & Johnson Common Stock acquired by the Company in the exchange offer will be recorded as an acquisition of treasury stock at a cost equal to the market value of the shares of Johnson & Johnson Common Stock accepted in the exchange offer at its expiration. Any difference between the net book value of Kenvue attributable to Johnson & Johnson and the market value of the shares of Johnson & Johnson Common Stock acquired at that date will be recognized by the Company as a gain on disposal of discontinued operations net of any direct and incremental expenses of the exchange offer on the disposal of its Kenvue Common Stock. Upon completion of the exchange offer, and assuming the Company no longer has a controlling financial interest in Kenvue, Kenvue’s historical results will be shown in the Company's financial statements as discontinued operations, and, in subsequent periods, the Company's financial statements will no longer reflect the assets, liabilities, results of operations or cash flows attributable to Kenvue.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2023
Accounting Policies [Abstract]
New and Recently Adopted Accounting Standards	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 1, 2023. Recently Adopted Accounting Standards ASU 2022-04: Liabilities-Supplier Finance Programs (Topic 405-50) The Company adopted the standard as of the beginning of fiscal year 2023, which requires that a buyer in a supplier finance program disclose additional information about the program for financial statement users. The Company has agreements for supplier finance programs with third-party financial institutions. These programs provide participating suppliers the ability to finance payment obligations from the Company with the third-party financial institutions. The Company is not a party to the arrangements between the suppliers and the third-party financial institutions. The Company’s obligations to its suppliers, including amounts due, and scheduled payment dates (which have general payment terms of 90 days), are not affected by a participating supplier’s decision to participate in the program. As of July 2, 2023, and January 1, 2023, $0.9 billion and $1.0 billion, respectively, were valid obligations under the program. The obligations are presented as Accounts payable on the Consolidated Balance Sheets. Recently Issued Accounting Standards Not Adopted as of July 2, 2023 There were no new material accounting standards issued in the fiscal six months of 2023.
Reclassification	Reclassification Certain prior period amounts have been reclassified to conform to current year presentation.
Cash and Cash Equivalents	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 either cash equivalents or current marketable securities.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 02, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	(Dollars in Millions) July 2, 2023 January 1, 2023 Raw materials and supplies $ 2,419 2,070 Goods in process 1,944 1,700 Finished goods 8,525 8,713 Total inventories $ 12,888 12,483

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jul. 02, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	(Dollars in Millions) July 2, 2023 January 1, 2023 Intangible assets with definite lives: Patents and trademarks — gross $ 44,637 44,012 Less accumulated amortization (24,460) (22,266) Patents and trademarks — net 20,177 21,746 Customer relationships and other intangibles — gross 23,055 22,987 Less accumulated amortization (13,516) (12,901) Customer relationships and other intangibles — net (1) 9,539 10,086 Intangible assets with indefinite lives: Trademarks 6,834 6,807 Purchased in-process research and development 9,696 9,686 Total intangible assets with indefinite lives 16,530 16,493 Total intangible assets — net $ 46,246 48,325 (1) The majority is comprised of customer relationships
Goodwill	Goodwill as of July 2, 2023 was allocated by segment of business as follows: (Dollars in Millions) Consumer Health Pharmaceutical MedTech Total Goodwill at January 1, 2023 $ 9,184 10,184 25,863 45,231 Goodwill, related to acquisitions — — — — Goodwill, related to divestitures — — — — Currency translation/Other (103) 137 175 * 209 Goodwill at July 2, 2023 $ 9,081 10,321 26,038 45,440
Intangible Asset Amortization Expense	The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2023 2024 2025 2026 2027 $4,800 4,600 3,800 3,200 2,600

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 02, 2023
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 July 2, 2023 and July 3, 2022, net of tax: July 2, 2023 July 3, 2022 (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 $ — — — (175) — — — — (241) — Derivatives designated as hedging instruments — — — 175 — — — — 241 — 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 — — — 33 — — — — 44 — Amount of gain or (loss) recognized in AOCI — — — 33 — — — — 44 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income (15) 56 (12) — 3 (17) (6) 42 — (39) Amount of gain or (loss) recognized in AOCI (14) 251 7 — 18 (25) 35 69 — (38) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 74 — — — — 102 — Amount of gain or (loss) recognized in AOCI $ — — — (432) — — — — 60 — The following table is a summary of the activity related to derivatives and hedges for the fiscal six months ended July 2, 2023 and July 3, 2022, net of tax: July 2, 2023 July 3, 2022 (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 $ — — — (1,104) — — — — (772) — Derivatives designated as hedging instruments — — — 1,104 — — — — 772 — 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 — — — 67 — — — — 89 — Amount of gain or (loss) recognized in AOCI — — — 67 — — — — 89 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income (3) (90) (25) — 5 (34) (58) 65 — (57) Amount of gain or (loss) recognized in AOCI 10 396 (29) — 4 (3) (59) 102 — (111) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 182 — — — — 222 — Amount of gain or (loss) recognized in AOCI $ — — — (15) — — — — (68) — The following table is the effect of net investment hedges for the fiscal second quarters ended in 2023 and 2022: Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Debt $ 11 202 Interest (income) expense — — Cross Currency interest rate swaps $ (24) 313 Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal six months ended in 2023 and 2022 Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Debt $ (66) 270 Interest (income) expense — — Cross Currency interest rate swaps $ 666 873 Interest (income) expense — —
Schedule of Derivative Financial Instruments and Classification on Consolidated Balance Sheet	As of July 2, 2023, and January 1, 2023, 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 Gain/ (Loss) Included in the Carrying Amount of the Hedged Liability (Dollars in Millions) July 2, 2023 January 1, 2023 July 2, 2023 January 1, 2023 Long-term Debt $ 8,662 8,665 (1,443) (1,435)
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 ended 2023 and 2022: 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 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Foreign Exchange Contracts Other (income) expense $ 33 73 2 102
Summary of Activity Related to Equity Investments	The following table is a summary of the activity related to equity investments: (Dollars in Millions) January 1, 2023 July 2, 2023 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 $ 576 (30) (53) 493 493 Equity Investments without readily determinable value $ 698 (26) 75 747 747 (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 2, 2023 and January 1, 2023 were as follows: July 2, 2023 January 1, 2023 (Dollars in Millions) Level 1 Level 2 Level 3 Total Total (1) Derivatives designated as hedging instruments: Assets: Forward foreign exchange contracts $ — 893 — 893 629 Interest rate contracts (2) — 1,310 — 1,310 1,534 Total — 2,203 — 2,203 2,163 Liabilities: Forward foreign exchange contracts — 446 — 446 511 Interest rate contracts (2) — 3,691 — 3,691 2,778 Total — 4,137 — 4,137 3,289 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 55 — 55 38 Liabilities: Forward foreign exchange contracts — 22 — 22 68 Other Investments: Equity investments (3) 493 — — 493 576 Debt securities (4) — 9,831 — 9,831 10,487 Other Liabilities Contingent consideration (5) $ — — 1,142 1,142 1,120 Gross to Net Derivative Reconciliation July 2, 2023 January 1, 2023 (Dollars in Millions) Total Gross Assets $ 2,258 2,201 Credit Support Agreement (CSA) (2,119) (2,176) Total Net Asset 139 25 Total Gross Liabilities 4,159 3,357 Credit Support Agreement (CSA) (3,890) (3,023) Total Net Liabilities $ 269 334 Summarized information about changes in liabilities for contingent consideration for the fiscal second quarters ended July 2, 2023 and July 3, 2022 is as follows: July 2, 2023 July 3, 2022 (Dollars in Millions) Beginning Balance $ 1,120 533 Changes in estimated fair value (6) 25 (88) Additions — 91 Payments (3) — Ending Balance $ 1,142 536 (1) 2022 assets and liabilities are all classified as Level 2 with the exception of equity investments of $576 million, which are classified as Level 1 and contingent consideration of $1,120 million, classified as Level 3. (2) Includes cross currency interest rate swaps and interest rate swaps. (3) Classified as non-current other assets. (4) Classified within cash equivalents and current marketable securities. (5) Includes $1,137 million and $1,116 million, classified as non-current other liabilities as of July 2, 2023 and January 1, 2023, respectively.
Marketable Securities	The Company's cash, cash equivalents and current marketable securities as of July 2, 2023 comprised: (Dollars in Millions) Carrying Amount Gain/(Loss) Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $ 4,430 — 4,430 4,430 — Non-U.S. sovereign securities 423 — 423 423 — U.S. reverse repurchase agreements 8,991 — 8,991 8,991 — Corporate debt securities (1) 641 — 641 368 273 Money market funds 3,570 — 3,570 3,570 — Time deposits (1) 619 — 619 619 — Subtotal 18,674 — 18,674 18,401 273 Unrealized Loss U.S. Gov’t securities 9,416 (5) 9,411 2,729 6,682 U.S. Gov’t Agencies 123 (2) 121 — 121 Other sovereign securities 9 — 9 7 2 Corporate debt securities 291 (1) 290 46 244 Subtotal available for sale debt (2) $ 9,839 (8) 9,831 2,782 7,049 Total cash, cash equivalents and current marketable securities $ 28,513 (8) 28,505 21,183 7,322 (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 2, 2023 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $ 9,823 9,815 Due after one year through five years 16 16 Due after five years through ten years — — Total debt securities $ 9,839 9,831
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 2, 2023: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $ 11,701 11,676 Non-Current Debt 5.50% Notes due 2024 (500MM GBP 1.2605) 629 627 2.625% Notes due 2025 749 726 0.55% Notes due 2025 926 914 2.45% Notes due 2026 1,997 1,890 2.95% Notes due 2027 875 954 0.95% Notes due 2027 1,394 1,313 2.90% Notes due 2028 1,497 1,411 1.150% Notes due 2028 (750MM Euro 1.0873) 811 728 6.95% Notes due 2029 298 347 1.30% Notes due 2030 1,605 1,435 4.95% Debentures due 2033 498 525 4.375% Notes due 2033 854 857 1.650% Notes due 2035 (1.5B Euro 1.0873) 1,619 1,400 3.55% Notes due 2036 840 901 5.95% Notes due 2037 993 1,126 3.625% Notes due 2037 1,334 1,355 3.40% Notes due 2038 992 889 5.85% Debentures due 2038 697 783 4.50% Debentures due 2040 541 539 2.10% Notes due 2040 826 704 4.85% Notes due 2041 297 299 4.50% Notes due 2043 496 499 3.70% Notes due 2046 1,977 1,758 3.75% Notes due 2047 811 871 3.50% Notes due 2048 743 640 2.25% Notes due 2050 807 666 2.45% Notes due 2060 1,053 811 5.50% Debentures due 2025* 748 752 5.35% Debentures due 2026* 747 756 5.05% Debentures due 2028* 994 1,006 5.00% Debentures due 2030* 992 1,006 4.90% Debentures due 2033* 1,240 1,264 5.10% Debentures due 2043* 741 763 5.05% Debentures due 2053* 1,476 1,531 5.20% Debentures due 2063* 738 765 Other 66 66 Total Non-Current Debt $ 33,901 32,877

Pensions and Other Benefit Pl_2

Pensions and Other Benefit Plans (Tables)	6 Months Ended
	Jul. 02, 2023
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	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 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Service cost $ 216 319 69 80 428 640 137 160 Interest cost 373 229 55 27 727 459 109 53 Expected return on plan assets (694) (693) (2) (2) (1,362) (1,392) (3) (4) Amortization of prior service cost/(credit) (46) (46) (1) (2) (92) (92) (1) (3) Recognized actuarial (gains) losses (50) 167 7 31 (100) 329 13 61 Curtailments and settlements — — — — — 1 — — Net periodic benefit cost/(credit) $ (201) (24) 128 134 (399) (55) 255 267

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jul. 02, 2023
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 1, 2023 $ (11,813) (27) (897) (230) (12,967) Net change (896) 21 (138) 297 (716) Amount attributable to non-controlling interest 548 548 July 2, 2023 $ (12,161) (6) (1,035) 67 (13,135)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 02, 2023
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 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Basic net earnings per share $ 1.98 1.83 1.95 3.79 Average shares outstanding — basic 2,598.4 2,629.6 2,601.9 2,629.4 Potential shares exercisable under stock option plans 95.2 143.7 96.9 141.8 Less: shares which could be repurchased under treasury stock method (67.9) (105.4) (68.1) (102.0) Average shares outstanding — diluted 2,625.7 2,667.9 2,630.7 2,669.2 Diluted net earnings per share $ 1.96 1.80 1.93 3.73

Segments of Business and Geog_2

Segments of Business and Geographic Areas (Tables)	6 Months Ended
	Jul. 02, 2023
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 2, July 3, Percent July 2, July 3, Percent Change CONSUMER HEALTH OTC U.S. $ 712 663 7.5 % $ 1,457 1,333 9.3 % International 947 818 15.7 1,844 1,609 14.6 Worldwide 1,659 1,482 12.0 3,301 2,943 12.2 Skin Health/Beauty U.S. 650 629 3.4 1,267 1,173 8.0 International 498 497 0.3 991 965 2.7 Worldwide 1,148 1,126 2.0 2,258 2,138 5.6 Oral Care U.S. 173 170 1.7 332 313 6.2 International 225 224 0.3 427 447 (4.7) Worldwide 398 394 0.9 759 760 (0.2) Baby Care U.S. 99 88 12.5 195 173 12.7 International 261 287 (9.1) 524 557 (6.0) Worldwide 360 375 (4.0) 719 730 (1.6) Women’s Health U.S. 4 3 (2.1) 7 7 (0.1) International 235 228 3.5 449 452 (0.7) Worldwide 238 230 3.4 455 458 (0.6) Wound Care/Other U.S. 149 133 12.3 264 245 7.9 International 58 65 (10.3) 107 117 (8.4) Worldwide 207 197 4.9 371 361 2.6 TOTAL CONSUMER HEALTH U.S. 1,787 1,687 6.0 3,522 3,244 8.6 International 2,224 2,118 5.0 4,341 4,147 4.7 Worldwide 4,011 3,805 5.4 7,863 7,391 6.4 PHARMACEUTICAL Immunology U.S. 2,865 2,853 0.4 5,313 5,354 (0.8) International 1,631 1,559 4.7 3,295 3,176 3.8 Worldwide 4,496 4,411 1.9 8,608 8,530 0.9 REMICADE U.S. 277 391 (29.3) 553 749 (26.2) U.S. Exports 33 44 (24.9) 74 124 (40.3) International 152 212 (28.2) 322 437 (26.2) Worldwide 462 647 (28.6) 949 1,310 (27.5) SIMPONI / SIMPONI ARIA U.S. 285 301 (5.1) 556 588 (5.4) International 244 266 (8.2) 510 549 (7.1) Worldwide 529 566 (6.6) 1,066 1,137 (6.2) STELARA U.S. 1,817 1,731 4.9 3,268 3,110 5.1 International 981 868 13.0 1,974 1,777 11.1 Worldwide 2,797 2,599 7.6 5,241 4,887 7.2 TREMFYA U.S. 450 382 17.8 856 773 10.7 International 255 214 19.4 489 413 18.4 Worldwide 706 597 18.3 1,346 1,187 13.4 OTHER IMMUNOLOGY U.S. 4 3 17.8 7 9 (30.2) International 0 0 — 0 0 — Worldwide 4 3 17.8 7 9 (30.2) Infectious Diseases U.S. 395 415 (4.9) 787 876 (10.2) International 727 901 (19.4) 1,920 1,737 10.5 Worldwide 1,121 1,316 (14.8) 2,707 2,613 3.6 COVID-19 VACCINE U.S. — 45 * — 120 * International 285 499 (43.0) 1,032 881 17.1 Worldwide 285 544 (47.7) 1,032 1,001 3.0 EDURANT / rilpivirine U.S. 8 9 (9.0) 17 18 (5.3) International 258 215 19.9 529 454 16.4 Worldwide 266 225 18.6 546 473 15.6 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 382 355 7.6 760 724 5.0 International 109 110 (0.2) 208 242 (13.9) Worldwide 491 464 5.8 968 965 0.3 OTHER INFECTIOUS DISEASES U.S. 5 6 (27.2) 10 14 (30.6) International 74 77 (3.5) 151 160 (5.6) Worldwide 79 83 (5.2) 161 174 (7.6) Neuroscience U.S. 1,029 896 14.9 2,007 1,739 15.4 International 764 837 (8.8) 1,590 1,735 (8.4) Worldwide 1,793 1,734 3.5 3,597 3,475 3.5 CONCERTA / methylphenidate U.S. 64 38 68.2 134 73 84.0 International 143 123 16.3 279 245 13.9 Worldwide 208 161 28.6 414 318 30.0 INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 721 691 4.3 1,434 1,352 6.0 International 310 362 (14.4) 641 749 (14.5) Worldwide 1,031 1,054 (2.1) 2,075 2,102 (1.3) SPRAVATO U.S. 144 74 93.2 255 135 88.3 International 25 11 * 45 20 * Worldwide 169 85 98.2 300 155 93.1 OTHER NEUROSCIENCE (1) U.S. 100 93 9.3 184 179 3.1 International 286 341 (16.4) 625 721 (13.4) Worldwide 386 433 (10.9) 809 900 (10.1) Oncology U.S. 2,069 1,679 23.2 3,958 3,261 21.4 International 2,329 2,362 (1.4) 4,552 4,731 (3.8) Worldwide 4,398 4,042 8.8 8,510 7,992 6.5 CARVYKTI U.S. 114 24 * 184 24 * International 3 — * 5 — * Worldwide 117 24 * 189 24 * DARZALEX U.S. 1,322 1,021 29.5 2,513 1,974 27.3 International 1,110 965 15.0 2,182 1,868 16.8 Worldwide 2,431 1,986 22.4 4,695 3,842 22.2 ERLEADA U.S. 241 233 3.6 490 439 11.8 International 326 218 49.7 619 412 50.3 Worldwide 567 450 25.9 1,109 850 30.4 IMBRUVICA U.S. 262 349 (24.9) 532 719 (26.0) International 579 620 (6.7) 1,136 1,288 (11.8) Worldwide 841 970 (13.2) 1,668 2,008 (16.9) ZYTIGA / abiraterone acetate U.S. 9 19 (55.2) 25 38 (34.7) International 218 486 (55.1) 447 1,006 (55.6) Worldwide 227 505 (55.1) 472 1,044 (54.8) OTHER ONCOLOGY U.S. 122 33 * 214 67 * International 92 72 27.8 162 156 3.6 Worldwide 214 106 * 376 224 68.0 Pulmonary Hypertension U.S. 684 560 22.0 1,284 1,132 13.4 International 289 284 2.0 561 563 (0.4) Worldwide 972 843 15.3 1,844 1,695 8.8 OPSUMIT U.S. 328 265 23.7 601 538 11.6 International 179 173 3.4 346 343 0.9 Worldwide 507 438 15.7 947 881 7.5 UPTRAVI U.S. 338 272 24.2 642 541 18.7 International 61 56 10.0 119 112 6.6 Worldwide 399 328 21.8 761 653 16.6 OTHER PULMONARY HYPERTENSION U.S. 18 23 (23.8) 41 53 (23.0) International 48 55 (10.9) 95 108 (11.7) Worldwide 66 78 (14.7) 136 161 (15.5) Cardiovascular / Metabolism / Other U.S. 776 757 2.6 1,491 1,429 4.3 International 174 215 (19.0) 386 453 (14.7) Worldwide 950 972 (2.2) 1,877 1,882 (0.3) XARELTO U.S. 637 609 4.7 1,215 1,117 8.8 International — — — — — — Worldwide 637 609 4.7 1,215 1,117 8.8 OTHER (2) U.S. 138 148 (6.3) 275 312 (11.8) International 174 215 (19.0) 386 453 (14.7) Worldwide 313 363 (13.8) 662 765 (13.5) TOTAL PHARMACEUTICAL U.S. 7,818 7,159 9.2 14,841 13,791 7.6 International 5,913 6,158 (4.0) 12,303 12,395 (0.7) Worldwide 13,731 13,317 3.1 27,144 26,186 3.7 MEDTECH Interventional Solutions U.S. 908 525 73.1 1,771 1,019 73.8 International 712 525 35.7 1,352 1,123 20.5 Worldwide 1,620 1,049 54.4 3,123 2,141 45.8 ELECTROPHYSIOLOGY U.S. 609 499 22.0 1,180 969 21.7 International 587 469 25.1 1,109 1,001 10.8 Worldwide 1,196 968 23.5 2,288 1,970 16.2 ABIOMED (3) U.S. 272 — * 536 — * International 59 — * 119 — * Worldwide 331 — * 655 — * OTHER INTERVENTIONAL SOLUTIONS U.S. 27 26 4.5 55 51 10.8 International 67 56 20.0 125 121 2.8 Worldwide 93 81 15.1 180 171 5.1 Orthopaedics U.S. 1,388 1,338 3.7 2,751 2,627 4.7 International 878 820 7.0 1,759 1,719 2.3 Worldwide 2,265 2,157 5.0 4,510 4,345 3.8 HIPS U.S. 250 240 4.1 491 465 5.6 International 147 148 (0.8) 296 312 (5.1) Worldwide 397 388 2.2 787 777 1.3 KNEES U.S. 221 216 2.4 447 417 7.2 International 142 133 6.3 284 271 4.8 Worldwide 363 349 3.9 731 688 6.3 TRAUMA U.S. 483 464 4.3 974 939 3.7 International 255 232 9.9 522 505 3.2 Worldwide 739 696 6.1 1,496 1,444 3.6 SPINE, SPORTS & OTHER U.S. 433 418 3.5 839 805 4.1 International 334 306 9.0 657 630 4.2 Worldwide 766 724 5.8 1,495 1,436 4.2 Surgery U.S. 1,015 992 2.2 1,990 1,913 4.0 International 1,580 1,458 8.4 3,039 2,971 2.3 Worldwide 2,594 2,450 5.9 5,028 4,884 3.0 ADVANCED U.S. 466 454 2.7 910 871 4.5 International 757 702 7.8 1,430 1,431 0.0 Worldwide 1,222 1,156 5.8 2,340 2,302 1.7 GENERAL U.S. 548 538 1.9 1,079 1,042 3.6 International 823 756 8.9 1,608 1,540 4.5 Worldwide 1,372 1,294 6.0 2,688 2,582 4.1 Vision U.S. 529 496 6.6 1,087 1,017 6.9 International 778 745 4.6 1,521 1,481 2.7 Worldwide 1,308 1,241 5.4 2,608 2,498 4.4 CONTACT LENSES / OTHER U.S. 409 374 9.1 853 774 10.1 International 530 519 2.2 1,039 1,030 0.9 Worldwide 939 894 5.1 1,892 1,804 4.9 SURGICAL U.S. 120 122 (1.1) 234 243 (3.6) International 249 225 10.1 482 451 6.7 Worldwide 369 347 6.2 716 694 3.1 TOTAL MEDTECH U.S. 3,839 3,351 14.6 7,598 6,576 15.5 International 3,949 3,547 11.3 7,671 7,293 5.2 Worldwide 7,788 6,898 12.9 15,269 13,869 10.1 WORLDWIDE U.S. 13,444 12,197 10.2 25,961 23,611 10.0 International 12,086 11,823 2.2 24,315 23,835 2.0 Worldwide $ 25,530 24,020 6.3 % $ 50,276 47,446 6.0 % *Percentage greater than 100% or not meaningful (1) Inclusive of RISPERDAL CONSTA which was previously disclosed separately (2) Inclusive of INVOKANA which was previously disclosed separately (3) Acquired on December 22, 2022
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 2, July 3, Percent July 2, July 3, Percent Consumer Health (1) $ 860 784 9.7 % $ 1,636 1,470 11.3% Pharmaceutical (2) 4,862 4,420 10.0 9,306 8,344 11.5 MedTech (3) 1,699 1,141 48.9 3,144 2,618 20.1 Segment earnings before provision for taxes 7,421 6,345 17.0 14,086 12,432 13.3 Less: Expense not allocated to segments (4) 377 237 7,479 360 Less: Consumer Health separation costs 282 268 582 370 Worldwide income before tax $ 6,762 5,840 15.8% $ 6,025 11,702 (48.5) % *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 2023 and 2022. Intangible amortization expense of $0.2 billion in both the fiscal six months of 2023 and 2022. (2) Pharmaceutical includes: • Intangible amortization expense of $0.7 billion in both the fiscal second quarter of 2023 and 2022. Intangible amortization expense of $1.5 billion in both the fiscal six months of 2023 and 2022. • One-time COVID-19 Vaccine related exit costs of $0.2 billion and $0.3 billion in the fiscal second quarter of 2023 and 2022, respectively. One-time COVID-19 Vaccine related exit costs of $0.6 billion and $0.3 billion in the fiscal six months of 2023 and 2022, respectively. • A restructuring related charge of $0.1 billion and $0.3 billion in the fiscal second quarter and fiscal six months of 2023, respectively. • In the fiscal six months of 2022, the Company recorded an intangible asset impairment charge of approximately $0.6 billion related to an in-process research and development asset, bermekimab (JnJ-77474462), an investigational drug for the treatment of Atopic Dermatitis (AD) and Hidradenitis Suppurativa (HS). • Unfavorable changes in the fair value of securities of $0.1 billion in the fiscal second quarter of 2022. Unfavorable changes in the fair value of securities of $0.1 billion and $0.5 billion in the fiscal six months of 2023 and 2022, respectively. • Favorable litigation related items of $0.1 billion in both the fiscal second quarter and fiscal six months of 2023. (3) MedTech includes: • Intangible amortization expense of $0.4 billion and $0.3 billion in the fiscal second quarter of 2023 and 2022, respectively. Intangible amortization expense of $0.8 billion and $0.5 billion in the fiscal six months of 2023 and 2022, respectively. • Net favorable litigation matters of $0.2 billion in both the fiscal second quarter and fiscal six months of 2023 and $0.3 billion of expense in both the fiscal second quarter and fiscal six months of 2022. • Acquisition and integration related expense of $0.1 billion in the fiscal six months of 2023. • A restructuring related charge of $0.1 billion in the fiscal second quarter of 2022 and $0.2 billion in the fiscal six months of 2022.
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 2, 2023 July 3, 2022 Percent July 2, 2023 July 3, 2022 Percent Change United States $ 13,444 12,197 10.2 % $ 25,961 23,611 10.0 % Europe 5,894 6,085 (3.1) 12,226 12,109 1.0 Western Hemisphere, excluding U.S. 1,713 1,536 11.5 3,300 3,018 9.3 Asia-Pacific, Africa 4,479 4,202 6.6 8,789 8,708 0.9 Total $ 25,530 24,020 6.3 % $ 50,276 47,446 6.0 %

Legal Proceedings (Tables)

Legal Proceedings (Tables)	6 Months Ended
	Jul. 02, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary Of Claims In Pending Lawsuits	The table below contains the most significant of these cases and provides the approximate number of plaintiffs in the United States with direct claims in pending lawsuits regarding injuries allegedly due to the relevant product or product category as of July 2, 2023: Product or product category Number of Plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 40,480 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 940 Pelvic meshes 7,160 ETHICON PHYSIOMESH Flexible Composite Mesh 910 RISPERDAL 240 ELMIRON 2,130 TYLENOL 520

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2023	Jan. 01, 2023
Accounting Policies [Abstract]
Supplier finance program, obligation	$ 900	$ 1,000
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2022-04 [Member]

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 02, 2023	Jan. 01, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 2,419	$ 2,070
Goods in process	1,944	1,700
Finished goods	8,525	8,713
Total inventories	$ 12,888	$ 12,483

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	Jul. 02, 2023	Jan. 01, 2023
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	$ 16,530	$ 16,493
Total intangible assets — net	46,246	48,325
Trademarks
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	6,834	6,807
Purchased In-Process Research And Development
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	9,696	9,686
Patents And Trademarks
Intangible assets with definite lives:
Finite-Lived Intangible Assets, Gross	44,637	44,012
Less accumulated amortization	(24,460)	(22,266)
Finite-Lived Intangible Assets, Net	20,177	21,746
Customer relationships and other intangible assets
Intangible assets with definite lives:
Finite-Lived Intangible Assets, Gross	23,055	22,987
Less accumulated amortization	(13,516)	(12,901)
Finite-Lived Intangible Assets, Net	$ 9,539	$ 10,086

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Goodwill By Segment (Details) $ in Millions	6 Months Ended
	Jul. 02, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill Beginning of Period	$ 45,231
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	209
Goodwill End of Period	45,440
CONSUMER HEALTH
Goodwill [Roll Forward]
Goodwill Beginning of Period	9,184
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	(103)
Goodwill End of Period	9,081
PHARMACEUTICAL
Goodwill [Roll Forward]
Goodwill Beginning of Period	10,184
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	137
Goodwill End of Period	10,321
MedTech
Goodwill [Roll Forward]
Goodwill Beginning of Period	25,863
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	175
Goodwill End of Period	$ 26,038

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Dec. 22, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life					14 years
Amortization expense of amortizable intangible assets	$ 1,200	$ 1,100	$ 2,400	$ 2,200
Patents And Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life	12 years		12 years
Customer relationships and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life	21 years		21 years

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Intangible Asset Amortization Expense (Details) $ in Millions	Jul. 02, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 4,800
2024	4,600
2025	3,800
2026	3,200
2027	$ 2,600

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2023	May 08, 2023	Mar. 31, 2023	Jan. 01, 2023
Derivative [Line Items]
Accumulated other comprehensive income on derivatives, after tax	$ 67
Weighted average interest rate on non-current debt	3.54%
Current Debt	$ 11,701			$ 12,771
Debt instrument, face amount			$ 7,750
Commercial Paper
Derivative [Line Items]
Current Debt	$ 9,800
Weighted average interest rate	4.99%
Term	40 days
Commercial Paper | Kenvue Inc.
Derivative [Line Items]
Current Debt	$ 700	$ 1,200
Forward foreign exchange contracts
Derivative [Line Items]
Collateral already posted, aggregate fair value	1,800
Derivative, notional amount	46,900			43,300
Cross currency interest rate swaps
Derivative [Line Items]
Derivative, notional amount	39,500			36,200
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	10,000			$ 12,400
Equity Investments without readily determinable value | Equity Securities
Derivative [Line Items]
Changes in Fair Value Reflected in Net Income	$ (26)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Derivative Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
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			67	89
Amount of gain or (loss) recognized in AOCI			67	89
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	(175)	(241)	(1,104)	(772)
Amount of gain or (loss) recognized in AOCI	175	241	1,104	772
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	33	44
Amount of gain or (loss) recognized in AOCI	33	44
Cash Flow Hedging | Forward foreign exchange contracts | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	(14)	(25)	10	(3)
Amount of gain or (loss) reclassified from AOCI into income	(15)	(17)	(3)	(34)
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	251	35	396	(59)
Amount of gain or (loss) reclassified from AOCI into income	56	(6)	(90)	(58)
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	7	69	(29)	102
Amount of gain or (loss) reclassified from AOCI into income	(12)	42	(25)	65
Cash Flow Hedging | Forward foreign exchange contracts | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	18	(38)	4	(111)
Amount of gain or (loss) reclassified from AOCI into income	3	(39)	5	(57)
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	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	(432)	60	(15)	(68)
Amount of gain or (loss) reclassified from AOCI into income	$ 74	$ 102	$ 182	$ 222

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives, Balance Sheet Location (Details) - USD ($) $ in Millions	Jul. 02, 2023	Jan. 01, 2023
Derivative [Line Items]
Carrying Amount of the Hedged Liability	$ 4,159	$ 3,357
Long-term Debt | Designated as Hedging Instrument
Derivative [Line Items]
Carrying Amount of the Hedged Liability	8,662	8,665
Cumulative Amount of Fair Value Hedging Gain/ (Loss) Included in the Carrying Amount of the Hedged Liability	$ (1,443)	$ (1,435)

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. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Not Designated as Hedging Instrument | Forward foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Income on Derivative	$ 33	$ 73	$ 2	$ 102

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. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	$ 11	$ 202	$ (66)	$ 270
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	(24)	313	666	873
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. 02, 2023	Jan. 01, 2023
Equity Investment [Roll Forward]
Non Current Other Assets	$ 10,078	$ 9,602
Equity Securities | Equity Investments with readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period	576
Changes in Fair Value Reflected in Net Income	(30)
Sales/ Purchases/Other	(53)
Carrying value, end of period	493
Non Current Other Assets	493
Equity Securities | Equity Investments without readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period	698
Changes in Fair Value Reflected in Net Income	(26)
Sales/ Purchases/Other	75
Carrying value, end of period	747
Non Current Other Assets	$ 747

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	$ 2,203
Derivatives designated as hedging instruments : Liabilities	4,137
Available-for-sale Securities, Equity Securities	493		$ 576
Available-for-sale Securities	9,831		10,487
Contingent consideration	1,142		1,120
Total Gross Assets	2,258		2,201
Credit Support Agreement (CSA)	(2,119)		(2,176)
Total Net Asset	139		25
Total Gross Liabilities	4,159		3,357
Credit Support Agreement (CSA)	(3,890)		(3,023)
Total Net Liabilities	269		334
Beginning Balance	1,120	$ 533
Changes in estimated fair value (6)	25	(88)
Additions	0	91
Payments	(3)	0
Ending Balance	1,142	$ 536
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	493		576
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	2,203		2,163
Derivatives designated as hedging instruments : Liabilities	4,137		3,289
Available-for-sale Securities, Equity Securities	0
Available-for-sale Securities	9,831
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	1,142		1,120
Interest Rate Contract
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	1,310
Derivatives designated as hedging instruments : Liabilities	3,691
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	1,310		1,534
Derivatives designated as hedging instruments : Liabilities	3,691		2,778
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	893
Derivatives designated as hedging instruments : Liabilities	446
Derivatives not designated as hedging instruments : Assets	55
Derivatives not designated as hedging instruments : Liabilities	22
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	893		629
Derivatives designated as hedging instruments : Liabilities	446		511
Derivatives not designated as hedging instruments : Assets	55		38
Derivatives not designated as hedging instruments : Liabilities	22		68
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
Other Noncurrent Liabilities | Auris Health
Financial assets and liabilities at fair value
Contingent consideration	$ 1,137		$ 1,116

Fair Value Measurements - Cash,

Fair Value Measurements - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Jul. 02, 2023	Jan. 01, 2023
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Estimated Fair Value	$ 9,831	$ 10,487
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	21,183	14,127
Marketable securities	7,322	$ 9,392
Total cash, cash equivalents and current marketable securities, Carrying Amount	28,513
Total cash, cash equivalents and current marketable securities, Unrecognized Loss	(8)
Total cash, cash equivalents and current marketable securities, Estimated Fair Value	28,505
Held-to-maturity Securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	18,674
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	18,674
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	18,401
Marketable securities	273
Held-to-maturity Securities | Cash
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	4,430
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	4,430
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	4,430
Marketable securities	0
Held-to-maturity Securities | U.S. reverse repurchase agreements
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	8,991
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	8,991
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	8,991
Marketable securities	0
Held-to-maturity Securities | Corporate debt securities(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	641
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	641
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	368
Marketable securities	273
Held-to-maturity Securities | Money market funds
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,570
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	3,570
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,570
Marketable securities	0
Held-to-maturity Securities | Time deposits(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	619
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	619
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	619
Marketable securities	0
Held-to-maturity Securities | Non-U.S. sovereign securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	423
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	423
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	423
Marketable securities	0
Available-for-sale Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	9,839
Available-for-sale Securities, Unrecognized Loss	(8)
Available-for-sale Securities - Estimated Fair Value	9,831
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2,782
Marketable securities	7,049
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	9,416
Available-for-sale Securities, Unrecognized Loss	(5)
Available-for-sale Securities - Estimated Fair Value	9,411
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	291
Available-for-sale Securities, Unrecognized Loss	(1)
Available-for-sale Securities - Estimated Fair Value	290
Available-for-sale Securities | US Government Agencies Debt Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	123
Available-for-sale Securities, Unrecognized Loss	(2)
Available-for-sale Securities - Estimated Fair Value	121
Available-for-sale Securities | Non-U.S. sovereign securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	9
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	9
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	46
Marketable securities	244
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2,729
Marketable securities	6,682
Available-for-sale Securities | US Government Agencies Debt Securities
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	0
Marketable securities	121
Available-for-sale Securities | Non-U.S. sovereign securities
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	7
Marketable securities	$ 2

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Available for Sale Securities Maturities (Details) $ in Millions	Jul. 02, 2023 USD ($)
Cost Basis
Due within one year	$ 9,823
Due after one year through five years	16
Due after five years through ten years	0
Total debt securities	9,839
Fair Value
Due within one year	9,815
Due after one year through five years	16
Due after five years through ten years	0
Total debt securities	$ 9,831

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Liabilities not Measured at Fair Value (Details)	12 Months Ended
	Jan. 01, 2023 USD ($)	Jul. 02, 2023 USD ($)	Jul. 02, 2023 GBP (£)	Jul. 02, 2023 EUR (€)	Mar. 31, 2023 USD ($)
Financial Liabilities
Current Debt	$ 12,771,000,000	$ 11,701,000,000
Non-Current Debt
Non-Current Debt	26,888,000,000	33,901,000,000
Debt instrument, face amount					$ 7,750,000,000
Excess Of Carrying Value Over Fair Value Of Debt	$ 1,600,000,000
Carrying Amount
Financial Liabilities
Current Debt		11,701,000,000
Non-Current Debt
Non-Current Debt		33,901,000,000
Estimated Fair Value
Financial Liabilities
Current Debt		11,676,000,000
Non-Current Debt
Non-Current Debt		$ 32,877,000,000
5.50% Notes due 2024 (500MM GBP 1.2605)
Non-Current Debt
Stated interest rate (as a percent)		5.50%	5.50%	5.50%
Debt instrument, face amount | £			£ 500,000,000
Foreign exchange rate		1.2605	1.2605	1.2605
5.50% Notes due 2024 (500MM GBP 1.2605) | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 629,000,000
5.50% Notes due 2024 (500MM GBP 1.2605) | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 627,000,000
2.625% Notes due 2025
Non-Current Debt
Stated interest rate (as a percent)		2.625%	2.625%	2.625%
2.625% Notes due 2025 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 749,000,000
2.625% Notes due 2025 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 726,000,000
0.55% Notes due 2025
Non-Current Debt
Stated interest rate (as a percent)		0.55%	0.55%	0.55%
0.55% Notes due 2025 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 926,000,000
0.55% Notes due 2025 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 914,000,000
2.45% Notes due 2026
Non-Current Debt
Stated interest rate (as a percent)		2.45%	2.45%	2.45%
2.45% Notes due 2026 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,997,000,000
2.45% Notes due 2026 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,890,000,000
2.95% Notes due 2027
Non-Current Debt
Stated interest rate (as a percent)		2.95%	2.95%	2.95%
2.95% Notes due 2027 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 875,000,000
2.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 954,000,000
0.95% Notes due 2027
Non-Current Debt
Stated interest rate (as a percent)		0.95%	0.95%	0.95%
0.95% Notes due 2027 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,394,000,000
0.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,313,000,000
2.90% Notes due 2028
Non-Current Debt
Stated interest rate (as a percent)		2.90%	2.90%	2.90%
2.90% Notes due 2028 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,497,000,000
2.90% Notes due 2028 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,411,000,000
1.150% Notes due 2028 (750MM Euro 1.0873)
Non-Current Debt
Stated interest rate (as a percent)		1.15%	1.15%	1.15%
Debt instrument, face amount | €				€ 750,000,000
Foreign exchange rate		1.0873	1.0873	1.0873
1.150% Notes due 2028 (750MM Euro 1.0873) | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 811,000,000
1.150% Notes due 2028 (750MM Euro 1.0873) | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 728,000,000
6.95% Notes due 2029
Non-Current Debt
Stated interest rate (as a percent)		6.95%	6.95%	6.95%
6.95% Notes due 2029 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 298,000,000
6.95% Notes due 2029 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 347,000,000
1.30% Notes due 2030
Non-Current Debt
Stated interest rate (as a percent)		1.30%	1.30%	1.30%
1.30% Notes due 2030 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,605,000,000
1.30% Notes due 2030 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,435,000,000
4.95% Debentures due 2033
Non-Current Debt
Stated interest rate (as a percent)		4.95%	4.95%	4.95%
4.95% Debentures due 2033 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 498,000,000
4.95% Debentures due 2033 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 525,000,000
4.375% Notes due 2033
Non-Current Debt
Stated interest rate (as a percent)		4.375%	4.375%	4.375%
4.375% Notes due 2033 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 854,000,000
4.375% Notes due 2033 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		857,000,000
1.650% Notes due 2035 (1.5B Euro 1.0873) | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,619,000,000
Stated interest rate (as a percent)		1.65%	1.65%	1.65%
Debt instrument, face amount		$ 1,500,000,000
Foreign exchange rate		1.0873	1.0873	1.0873
1.650% Notes due 2035 (1.5B Euro 1.0873) | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,400,000,000
3.55% Notes due 2036
Non-Current Debt
Stated interest rate (as a percent)		3.55%	3.55%	3.55%
3.55% Notes due 2036 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 840,000,000
3.55% Notes due 2036 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 901,000,000
5.95% Notes due 2037
Non-Current Debt
Stated interest rate (as a percent)		5.95%	5.95%	5.95%
5.95% Notes due 2037 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 993,000,000
5.95% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,126,000,000
3.625% Notes due 2037
Non-Current Debt
Stated interest rate (as a percent)		3.625%	3.625%	3.625%
3.625% Notes due 2037 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,334,000,000
3.625% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,355,000,000
3.40% Notes due 2038
Non-Current Debt
Stated interest rate (as a percent)		3.40%	3.40%	3.40%
3.40% Notes due 2038 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 992,000,000
3.40% Notes due 2038 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 889,000,000
5.85% Debentures due 2038
Non-Current Debt
Stated interest rate (as a percent)		5.85%	5.85%	5.85%
5.85% Debentures due 2038 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 697,000,000
5.85% Debentures due 2038 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 783,000,000
4.50% Debentures due 2040
Non-Current Debt
Stated interest rate (as a percent)		4.50%	4.50%	4.50%
4.50% Debentures due 2040 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 541,000,000
4.50% Debentures due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 539,000,000
2.10% Notes due 2040
Non-Current Debt
Stated interest rate (as a percent)		2.10%	2.10%	2.10%
2.10% Notes due 2040 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 826,000,000
2.10% Notes due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 704,000,000
4.85% Notes due 2041
Non-Current Debt
Stated interest rate (as a percent)		4.85%	4.85%	4.85%
4.85% Notes due 2041 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 297,000,000
4.85% Notes due 2041 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 299,000,000
4.50% Notes due 2043
Non-Current Debt
Stated interest rate (as a percent)		4.50%	4.50%	4.50%
4.50% Notes due 2043 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 496,000,000
4.50% Notes due 2043 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 499,000,000
3.70% Notes due 2046
Non-Current Debt
Stated interest rate (as a percent)		3.70%	3.70%	3.70%
3.70% Notes due 2046 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,977,000,000
3.70% Notes due 2046 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,758,000,000
3.75% Notes due 2047
Non-Current Debt
Stated interest rate (as a percent)		3.75%	3.75%	3.75%
3.75% Notes due 2047 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 811,000,000
3.75% Notes due 2047 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 871,000,000
3.50% Notes due 2048
Non-Current Debt
Stated interest rate (as a percent)		3.50%	3.50%	3.50%
3.50% Notes due 2048 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 743,000,000
3.50% Notes due 2048 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 640,000,000
2.25% Notes due 2050
Non-Current Debt
Stated interest rate (as a percent)		2.25%	2.25%	2.25%
2.25% Notes due 2050 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 807,000,000
2.25% Notes due 2050 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 666,000,000
2.45% Notes due 2060
Non-Current Debt
Stated interest rate (as a percent)		2.45%	2.45%	2.45%
2.45% Notes due 2060 | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,053,000,000
2.45% Notes due 2060 | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 811,000,000
5.50% Debentures due 2025*
Non-Current Debt
Stated interest rate (as a percent)		5.50%	5.50%	5.50%
5.50% Debentures due 2025* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 748,000,000
5.50% Debentures due 2025* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 752,000,000
5.35% Debentures due 2026*
Non-Current Debt
Stated interest rate (as a percent)		5.35%	5.35%	5.35%
5.35% Debentures due 2026* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 747,000,000
5.35% Debentures due 2026* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 756,000,000
5.05% Debentures due 2028*
Non-Current Debt
Stated interest rate (as a percent)		5.05%	5.05%	5.05%
5.05% Debentures due 2028* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 994,000,000
5.05% Debentures due 2028* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,006,000,000
5.00% Debentures due 2030*
Non-Current Debt
Stated interest rate (as a percent)		5%	5%	5%
5.00% Debentures due 2030* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 992,000,000
5.00% Debentures due 2030* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,006,000,000
4.90% Debentures due 2033*
Non-Current Debt
Stated interest rate (as a percent)		4.90%	4.90%	4.90%
4.90% Debentures due 2033* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,240,000,000
4.90% Debentures due 2033* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,264,000,000
5.10% Debentures due 2043*
Non-Current Debt
Stated interest rate (as a percent)		5.10%	5.10%	5.10%
5.10% Debentures due 2043* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 741,000,000
5.10% Debentures due 2043* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 763,000,000
5.05% Debentures due 2053*
Non-Current Debt
Stated interest rate (as a percent)		5.05%	5.05%	5.05%
5.05% Debentures due 2053* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 1,476,000,000
5.05% Debentures due 2053* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 1,531,000,000
5.20% Debentures due 2063*
Non-Current Debt
Stated interest rate (as a percent)		5.20%	5.20%	5.20%
5.20% Debentures due 2063* | Carrying Amount
Non-Current Debt
Non-Current Debt		$ 738,000,000
5.20% Debentures due 2063* | Estimated Fair Value
Non-Current Debt
Non-Current Debt		765,000,000
Other | Carrying Amount
Non-Current Debt
Non-Current Debt		66,000,000
Other | Estimated Fair Value
Non-Current Debt
Non-Current Debt		$ 66,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jul. 21, 2023	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Income Tax Contingency
Worldwide effective income tax rate (as a percent)				15.80%	14.90%
Current Foreign Tax Expense (Benefit)		$ 600
Provision for taxes on income (Note 5)		(1,618)	$ (1,026)	$ (949)	$ (1,739)
Unrecognized tax benefits		500		500
Subsequent Event
Income Tax Contingency
Provision for taxes on income (Note 5)	$ 500
Internal Revenue Service (IRS)
Income Tax Contingency
Unrecognized Tax Benefit Liability, Payment		1,400
Accrued Taxes On Income
Income Tax Contingency
Unrecognized tax benefits		$ 3,000		3,000
Talc | CONSUMER HEALTH
Income Tax Contingency
Litigation expense				$ 7,000
Effective Income Tax Rate Reconciliation, Tax Settlement, Percent				23.50%

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. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Retirement Plans
Components of net periodic benefit cost
Service cost	$ 216	$ 319	$ 428	$ 640
Interest cost	373	229	727	459
Expected return on plan assets	(694)	(693)	(1,362)	(1,392)
Amortization of prior service cost/(credit)	(46)	(46)	(92)	(92)
Recognized actuarial (gains) losses	(50)	167	(100)	329
Curtailments and settlements	0	0	0	1
Net periodic benefit cost/(credit)	(201)	(24)	(399)	(55)
Other Benefit Plans
Components of net periodic benefit cost
Service cost	69	80	137	160
Interest cost	55	27	109	53
Expected return on plan assets	(2)	(2)	(3)	(4)
Amortization of prior service cost/(credit)	(1)	(2)	(1)	(3)
Recognized actuarial (gains) losses	7	31	13	61
Curtailments and settlements	0	0	0	0
Net periodic benefit cost/(credit)	$ 128	$ 134	$ 255	$ 267

Pensions and Other Benefit Pl_4

Pensions and Other Benefit Plans (Details) $ in Millions	6 Months Ended
	Jul. 02, 2023 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 58
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 12

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 70,869	$ 74,709	$ 76,804	$ 74,023
Foreign Currency Translation, net change	(715)	(151)	(896)	(705)
Gain/(Loss) On Securities, net change	4	(20)	21	(33)
Employee Benefit Plans, net change	(70)	66	(138)	230
Gain/(Loss) On Derivatives & Hedges, net change	(276)	19	297	(277)
Total Accumulated Other Comprehensive Income (Loss), net change	(1,057)	(86)	(716)	(785)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest			548
Ending balance	76,409	76,357	76,409	76,357
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Foreign Currency Translation, net change			548
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(11,813)
Ending balance	(12,161)		(12,161)
Accumulated Net Investment Gain (Loss) Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(27)
Ending balance	(6)		(6)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(897)
Ending balance	(1,035)		(1,035)
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			(230)
Ending balance	67		67
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(12,626)	(13,757)	(12,967)	(13,058)
Total Accumulated Other Comprehensive Income (Loss), net change	(1,057)	(86)	(716)	(785)
Ending balance	$ (13,135)	$ (13,843)	$ (13,135)	$ (13,843)

Earnings Per Share (Details)

Earnings Per Share (Details) - $ / shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Reconciliation of basic net earnings per share to diluted net earnings per share
Basic net earnings per share	$ 1.98	$ 1.83	$ 1.95	$ 3.79
Average shares outstanding — basic	2,598.4	2,629.6	2,601.9	2,629.4
Potential shares exercisable under stock option plans	95.2	143.7	96.9	141.8
Less: shares which could be repurchased under treasury stock method	(67.9)	(105.4)	(68.1)	(102)
Average shares outstanding — diluted	2,625.7	2,667.9	2,630.7	2,669.2
Diluted net earnings per share	$ 1.96	$ 1.80	$ 1.93	$ 3.73
Antidilutive securities excluded from computation of earnings per share, amount	50.8		46.8

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. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Sales by segment of business
Sales to customers	$ 25,530	$ 24,020	$ 50,276	$ 47,446
Percent Change (as a percent)	6.30%		6%
U.S.
Sales by segment of business
Sales to customers	$ 13,444	12,197	$ 25,961	23,611
Percent Change (as a percent)	10.20%		10%
International
Sales by segment of business
Sales to customers	$ 12,086	11,823	$ 24,315	23,835
Percent Change (as a percent)	2.20%		2%
CONSUMER HEALTH
Sales by segment of business
Sales to customers	$ 4,011	3,805	$ 7,863	7,391
Percent Change (as a percent)	5.40%		6.40%
CONSUMER HEALTH | U.S.
Sales by segment of business
Sales to customers	$ 1,787	1,687	$ 3,522	3,244
Percent Change (as a percent)	6%		8.60%
CONSUMER HEALTH | International
Sales by segment of business
Sales to customers	$ 2,224	2,118	$ 4,341	4,147
Percent Change (as a percent)	5%		4.70%
CONSUMER HEALTH | OTC [Member]
Sales by segment of business
Sales to customers	$ 1,659	1,482	$ 3,301	2,943
Percent Change (as a percent)	12%		12.20%
CONSUMER HEALTH | OTC [Member] | U.S.
Sales by segment of business
Sales to customers	$ 712	663	$ 1,457	1,333
Percent Change (as a percent)	7.50%		9.30%
CONSUMER HEALTH | OTC [Member] | International
Sales by segment of business
Sales to customers	$ 947	818	$ 1,844	1,609
Percent Change (as a percent)	15.70%		14.60%
CONSUMER HEALTH | Skin Health/Beauty
Sales by segment of business
Sales to customers	$ 1,148	1,126	$ 2,258	2,138
Percent Change (as a percent)	2%		5.60%
CONSUMER HEALTH | Skin Health/Beauty | U.S.
Sales by segment of business
Sales to customers	$ 650	629	$ 1,267	1,173
Percent Change (as a percent)	3.40%		8%
CONSUMER HEALTH | Skin Health/Beauty | International
Sales by segment of business
Sales to customers	$ 498	497	$ 991	965
Percent Change (as a percent)	0.30%		2.70%
CONSUMER HEALTH | Oral Care
Sales by segment of business
Sales to customers	$ 398	394	$ 759	760
Percent Change (as a percent)	0.90%		(0.20%)
CONSUMER HEALTH | Oral Care | U.S.
Sales by segment of business
Sales to customers	$ 173	170	$ 332	313
Percent Change (as a percent)	1.70%		6.20%
CONSUMER HEALTH | Oral Care | International
Sales by segment of business
Sales to customers	$ 225	224	$ 427	447
Percent Change (as a percent)	0.30%		(4.70%)
CONSUMER HEALTH | Baby Care
Sales by segment of business
Sales to customers	$ 360	375	$ 719	730
Percent Change (as a percent)	(4.00%)		(1.60%)
CONSUMER HEALTH | Baby Care | U.S.
Sales by segment of business
Sales to customers	$ 99	88	$ 195	173
Percent Change (as a percent)	12.50%		12.70%
CONSUMER HEALTH | Baby Care | International
Sales by segment of business
Sales to customers	$ 261	287	$ 524	557
Percent Change (as a percent)	(9.10%)		(6.00%)
CONSUMER HEALTH | Women’s Health
Sales by segment of business
Sales to customers	$ 238	230	$ 455	458
Percent Change (as a percent)	3.40%		(0.60%)
CONSUMER HEALTH | Women’s Health | U.S.
Sales by segment of business
Sales to customers	$ 4	3	$ 7	7
Percent Change (as a percent)	(2.10%)		(0.10%)
CONSUMER HEALTH | Women’s Health | International
Sales by segment of business
Sales to customers	$ 235	228	$ 449	452
Percent Change (as a percent)	3.50%		(0.70%)
CONSUMER HEALTH | Wound Care/Other
Sales by segment of business
Sales to customers	$ 207	197	$ 371	361
Percent Change (as a percent)	4.90%		2.60%
CONSUMER HEALTH | Wound Care/Other | U.S.
Sales by segment of business
Sales to customers	$ 149	133	$ 264	245
Percent Change (as a percent)	12.30%		7.90%
CONSUMER HEALTH | Wound Care/Other | International
Sales by segment of business
Sales to customers	$ 58	65	$ 107	117
Percent Change (as a percent)	(10.30%)		(8.40%)
PHARMACEUTICAL
Sales by segment of business
Sales to customers	$ 13,731	13,317	$ 27,144	26,186
Percent Change (as a percent)	3.10%		3.70%
PHARMACEUTICAL | U.S.
Sales by segment of business
Sales to customers	$ 7,818	7,159	$ 14,841	13,791
Percent Change (as a percent)	9.20%		7.60%
PHARMACEUTICAL | International
Sales by segment of business
Sales to customers	$ 5,913	6,158	$ 12,303	12,395
Percent Change (as a percent)	(4.00%)		(0.70%)
PHARMACEUTICAL | Immunology
Sales by segment of business
Sales to customers	$ 4,496	4,411	$ 8,608	8,530
Percent Change (as a percent)	1.90%		0.90%
PHARMACEUTICAL | Immunology | U.S.
Sales by segment of business
Sales to customers	$ 2,865	2,853	$ 5,313	5,354
Percent Change (as a percent)	0.40%		(0.80%)
PHARMACEUTICAL | Immunology | International
Sales by segment of business
Sales to customers	$ 1,631	1,559	$ 3,295	3,176
Percent Change (as a percent)	4.70%		3.80%
PHARMACEUTICAL | Immunology | REMICADE
Sales by segment of business
Sales to customers	$ 462	647	$ 949	1,310
Percent Change (as a percent)	(28.60%)		(27.50%)
PHARMACEUTICAL | Immunology | REMICADE | U.S.
Sales by segment of business
Sales to customers	$ 277	391	$ 553	749
Percent Change (as a percent)	(29.30%)		(26.20%)
PHARMACEUTICAL | Immunology | REMICADE | U.S. Exports
Sales by segment of business
Sales to customers	$ 33	44	$ 74	124
Percent Change (as a percent)	(24.90%)		(40.30%)
PHARMACEUTICAL | Immunology | REMICADE | International
Sales by segment of business
Sales to customers	$ 152	212	$ 322	437
Percent Change (as a percent)	(28.20%)		(26.20%)
PHARMACEUTICAL | Immunology | SIMPONI / SIMPONI ARIA
Sales by segment of business
Sales to customers	$ 529	566	$ 1,066	1,137
Percent Change (as a percent)	(6.60%)		(6.20%)
PHARMACEUTICAL | Immunology | SIMPONI / SIMPONI ARIA | U.S.
Sales by segment of business
Sales to customers	$ 285	301	$ 556	588
Percent Change (as a percent)	(5.10%)		(5.40%)
PHARMACEUTICAL | Immunology | SIMPONI / SIMPONI ARIA | International
Sales by segment of business
Sales to customers	$ 244	266	$ 510	549
Percent Change (as a percent)	(8.20%)		(7.10%)
PHARMACEUTICAL | Immunology | STELARA
Sales by segment of business
Sales to customers	$ 2,797	2,599	$ 5,241	4,887
Percent Change (as a percent)	7.60%		7.20%
PHARMACEUTICAL | Immunology | STELARA | U.S.
Sales by segment of business
Sales to customers	$ 1,817	1,731	$ 3,268	3,110
Percent Change (as a percent)	4.90%		5.10%
PHARMACEUTICAL | Immunology | STELARA | International
Sales by segment of business
Sales to customers	$ 981	868	$ 1,974	1,777
Percent Change (as a percent)	13%		11.10%
PHARMACEUTICAL | Immunology | TREMFYA
Sales by segment of business
Sales to customers	$ 706	597	$ 1,346	1,187
Percent Change (as a percent)	18.30%		13.40%
PHARMACEUTICAL | Immunology | TREMFYA | U.S.
Sales by segment of business
Sales to customers	$ 450	382	$ 856	773
Percent Change (as a percent)	17.80%		10.70%
PHARMACEUTICAL | Immunology | TREMFYA | International
Sales by segment of business
Sales to customers	$ 255	214	$ 489	413
Percent Change (as a percent)	19.40%		18.40%
PHARMACEUTICAL | Immunology | OTHER IMMUNOLOGY
Sales by segment of business
Sales to customers	$ 4	3	$ 7	9
Percent Change (as a percent)	17.80%		(30.20%)
PHARMACEUTICAL | Immunology | OTHER IMMUNOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 4	3	$ 7	9
Percent Change (as a percent)	17.80%		(30.20%)
PHARMACEUTICAL | Immunology | OTHER IMMUNOLOGY | International
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0%		0%
PHARMACEUTICAL | Infectious Diseases
Sales by segment of business
Sales to customers	$ 1,121	1,316	$ 2,707	2,613
Percent Change (as a percent)	(14.80%)		3.60%
PHARMACEUTICAL | Infectious Diseases | U.S.
Sales by segment of business
Sales to customers	$ 395	415	$ 787	876
Percent Change (as a percent)	(4.90%)		(10.20%)
PHARMACEUTICAL | Infectious Diseases | International
Sales by segment of business
Sales to customers	$ 727	901	$ 1,920	1,737
Percent Change (as a percent)	(19.40%)		10.50%
PHARMACEUTICAL | Infectious Diseases | COVID-19
Sales by segment of business
Sales to customers	$ 285	544	$ 1,032	1,001
Percent Change (as a percent)	(47.70%)		3%
PHARMACEUTICAL | Infectious Diseases | COVID-19 | U.S.
Sales by segment of business
Sales to customers	$ 0	45	$ 0	120
PHARMACEUTICAL | Infectious Diseases | COVID-19 | International
Sales by segment of business
Sales to customers	$ 285	499	$ 1,032	881
Percent Change (as a percent)	(43.00%)		17.10%
PHARMACEUTICAL | Infectious Diseases | EDURANT / rilpivirine
Sales by segment of business
Sales to customers	$ 266	225	$ 546	473
Percent Change (as a percent)	18.60%		15.60%
PHARMACEUTICAL | Infectious Diseases | EDURANT / rilpivirine | U.S.
Sales by segment of business
Sales to customers	$ 8	9	$ 17	18
Percent Change (as a percent)	(9.00%)		(5.30%)
PHARMACEUTICAL | Infectious Diseases | EDURANT / rilpivirine | International
Sales by segment of business
Sales to customers	$ 258	215	$ 529	454
Percent Change (as a percent)	19.90%		16.40%
PHARMACEUTICAL | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
Sales by segment of business
Sales to customers	$ 491	464	$ 968	965
Percent Change (as a percent)	5.80%		0.30%
PHARMACEUTICAL | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | U.S.
Sales by segment of business
Sales to customers	$ 382	355	$ 760	724
Percent Change (as a percent)	7.60%		5%
PHARMACEUTICAL | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | International
Sales by segment of business
Sales to customers	$ 109	110	$ 208	242
Percent Change (as a percent)	(0.20%)		(13.90%)
PHARMACEUTICAL | Infectious Diseases | OTHER INFECTIOUS DISEASES(
Sales by segment of business
Sales to customers	$ 79	83	$ 161	174
Percent Change (as a percent)	(5.20%)		(7.60%)
PHARMACEUTICAL | Infectious Diseases | OTHER INFECTIOUS DISEASES( | U.S.
Sales by segment of business
Sales to customers	$ 5	6	$ 10	14
Percent Change (as a percent)	(27.20%)		(30.60%)
PHARMACEUTICAL | Infectious Diseases | OTHER INFECTIOUS DISEASES( | International
Sales by segment of business
Sales to customers	$ 74	77	$ 151	160
Percent Change (as a percent)	(3.50%)		(5.60%)
PHARMACEUTICAL | Neuroscience
Sales by segment of business
Sales to customers	$ 1,793	1,734	$ 3,597	3,475
Percent Change (as a percent)	3.50%		3.50%
PHARMACEUTICAL | Neuroscience | U.S.
Sales by segment of business
Sales to customers	$ 1,029	896	$ 2,007	1,739
Percent Change (as a percent)	14.90%		15.40%
PHARMACEUTICAL | Neuroscience | International
Sales by segment of business
Sales to customers	$ 764	837	$ 1,590	1,735
Percent Change (as a percent)	(8.80%)		(8.40%)
PHARMACEUTICAL | Neuroscience | CONCERTA / methylphenidate
Sales by segment of business
Sales to customers	$ 208	161	$ 414	318
Percent Change (as a percent)	28.60%		30%
PHARMACEUTICAL | Neuroscience | CONCERTA / methylphenidate | U.S.
Sales by segment of business
Sales to customers	$ 64	38	$ 134	73
Percent Change (as a percent)	68.20%		84%
PHARMACEUTICAL | Neuroscience | CONCERTA / methylphenidate | International
Sales by segment of business
Sales to customers	$ 143	123	$ 279	245
Percent Change (as a percent)	16.30%		13.90%
PHARMACEUTICAL | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
Sales by segment of business
Sales to customers	$ 1,031	1,054	$ 2,075	2,102
Percent Change (as a percent)	(2.10%)		(1.30%)
PHARMACEUTICAL | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | U.S.
Sales by segment of business
Sales to customers	$ 721	691	$ 1,434	1,352
Percent Change (as a percent)	4.30%		6%
PHARMACEUTICAL | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | International
Sales by segment of business
Sales to customers	$ 310	362	$ 641	749
Percent Change (as a percent)	(14.40%)		(14.50%)
PHARMACEUTICAL | Neuroscience | OTHER NEUROSCIENCE
Sales by segment of business
Sales to customers	$ 386	433	$ 809	900
Percent Change (as a percent)	(10.90%)		(10.10%)
PHARMACEUTICAL | Neuroscience | OTHER NEUROSCIENCE | U.S.
Sales by segment of business
Sales to customers	$ 100	93	$ 184	179
Percent Change (as a percent)	9.30%		3.10%
PHARMACEUTICAL | Neuroscience | OTHER NEUROSCIENCE | International
Sales by segment of business
Sales to customers	$ 286	341	$ 625	721
Percent Change (as a percent)	(16.40%)		(13.40%)
PHARMACEUTICAL | Neuroscience | SPRAVATO
Sales by segment of business
Sales to customers	$ 169	85	$ 300	155
Percent Change (as a percent)	98.20%		93.10%
PHARMACEUTICAL | Neuroscience | SPRAVATO | U.S.
Sales by segment of business
Sales to customers	$ 144	74	$ 255	135
Percent Change (as a percent)	93.20%		88.30%
PHARMACEUTICAL | Neuroscience | SPRAVATO | International
Sales by segment of business
Sales to customers	$ 25	11	$ 45	20
PHARMACEUTICAL | Oncology
Sales by segment of business
Sales to customers	$ 4,398	4,042	$ 8,510	7,992
Percent Change (as a percent)	8.80%		6.50%
PHARMACEUTICAL | Oncology | U.S.
Sales by segment of business
Sales to customers	$ 2,069	1,679	$ 3,958	3,261
Percent Change (as a percent)	23.20%		21.40%
PHARMACEUTICAL | Oncology | International
Sales by segment of business
Sales to customers	$ 2,329	2,362	$ 4,552	4,731
Percent Change (as a percent)	(1.40%)		(3.80%)
PHARMACEUTICAL | Oncology | DARZALEX
Sales by segment of business
Sales to customers	$ 2,431	1,986	$ 4,695	3,842
Percent Change (as a percent)	22.40%		22.20%
PHARMACEUTICAL | Oncology | DARZALEX | U.S.
Sales by segment of business
Sales to customers	$ 1,322	1,021	$ 2,513	1,974
Percent Change (as a percent)	29.50%		27.30%
PHARMACEUTICAL | Oncology | DARZALEX | International
Sales by segment of business
Sales to customers	$ 1,110	965	$ 2,182	1,868
Percent Change (as a percent)	15%		16.80%
PHARMACEUTICAL | Oncology | ERLEADA
Sales by segment of business
Sales to customers	$ 567	450	$ 1,109	850
Percent Change (as a percent)	25.90%		30.40%
PHARMACEUTICAL | Oncology | ERLEADA | U.S.
Sales by segment of business
Sales to customers	$ 241	233	$ 490	439
Percent Change (as a percent)	3.60%		11.80%
PHARMACEUTICAL | Oncology | ERLEADA | International
Sales by segment of business
Sales to customers	$ 326	218	$ 619	412
Percent Change (as a percent)	49.70%		50.30%
PHARMACEUTICAL | Oncology | IMBRUVICA
Sales by segment of business
Sales to customers	$ 841	970	$ 1,668	2,008
Percent Change (as a percent)	(13.20%)		(16.90%)
PHARMACEUTICAL | Oncology | IMBRUVICA | U.S.
Sales by segment of business
Sales to customers	$ 262	349	$ 532	719
Percent Change (as a percent)	(24.90%)		(26.00%)
PHARMACEUTICAL | Oncology | IMBRUVICA | International
Sales by segment of business
Sales to customers	$ 579	620	$ 1,136	1,288
Percent Change (as a percent)	(6.70%)		(11.80%)
PHARMACEUTICAL | Oncology | ZYTIGA / abiraterone acetate
Sales by segment of business
Sales to customers	$ 227	505	$ 472	1,044
Percent Change (as a percent)	(55.10%)		(54.80%)
PHARMACEUTICAL | Oncology | ZYTIGA / abiraterone acetate | U.S.
Sales by segment of business
Sales to customers	$ 9	19	$ 25	38
Percent Change (as a percent)	(55.20%)		(34.70%)
PHARMACEUTICAL | Oncology | ZYTIGA / abiraterone acetate | International
Sales by segment of business
Sales to customers	$ 218	486	$ 447	1,006
Percent Change (as a percent)	(55.10%)		(55.60%)
PHARMACEUTICAL | Oncology | OTHER ONCOLOGY
Sales by segment of business
Sales to customers	$ 214	106	$ 376	224
Percent Change (as a percent)			68%
PHARMACEUTICAL | Oncology | OTHER ONCOLOGY | U.S.
Sales by segment of business
Sales to customers	122	33	$ 214	67
PHARMACEUTICAL | Oncology | OTHER ONCOLOGY | International
Sales by segment of business
Sales to customers	$ 92	72	$ 162	156
Percent Change (as a percent)	27.80%		3.60%
PHARMACEUTICAL | Oncology | CARVYKTI
Sales by segment of business
Sales to customers	$ 117	24	$ 189	24
PHARMACEUTICAL | Oncology | CARVYKTI | U.S.
Sales by segment of business
Sales to customers	114	24	184	24
PHARMACEUTICAL | Oncology | CARVYKTI | International
Sales by segment of business
Sales to customers	3	0	5	0
PHARMACEUTICAL | Pulmonary Hypertension
Sales by segment of business
Sales to customers	$ 972	843	$ 1,844	1,695
Percent Change (as a percent)	15.30%		8.80%
PHARMACEUTICAL | Pulmonary Hypertension | U.S.
Sales by segment of business
Sales to customers	$ 684	560	$ 1,284	1,132
Percent Change (as a percent)	22%		13.40%
PHARMACEUTICAL | Pulmonary Hypertension | International
Sales by segment of business
Sales to customers	$ 289	284	$ 561	563
Percent Change (as a percent)	2%		(0.40%)
PHARMACEUTICAL | Pulmonary Hypertension | OPSUMIT
Sales by segment of business
Sales to customers	$ 507	438	$ 947	881
Percent Change (as a percent)	15.70%		7.50%
PHARMACEUTICAL | Pulmonary Hypertension | OPSUMIT | U.S.
Sales by segment of business
Sales to customers	$ 328	265	$ 601	538
Percent Change (as a percent)	23.70%		11.60%
PHARMACEUTICAL | Pulmonary Hypertension | OPSUMIT | International
Sales by segment of business
Sales to customers	$ 179	173	$ 346	343
Percent Change (as a percent)	3.40%		0.90%
PHARMACEUTICAL | Pulmonary Hypertension | UPTRAVI
Sales by segment of business
Sales to customers	$ 399	328	$ 761	653
Percent Change (as a percent)	21.80%		16.60%
PHARMACEUTICAL | Pulmonary Hypertension | UPTRAVI | U.S.
Sales by segment of business
Sales to customers	$ 338	272	$ 642	541
Percent Change (as a percent)	24.20%		18.70%
PHARMACEUTICAL | Pulmonary Hypertension | UPTRAVI | International
Sales by segment of business
Sales to customers	$ 61	56	$ 119	112
Percent Change (as a percent)	10%		6.60%
PHARMACEUTICAL | Pulmonary Hypertension | Other
Sales by segment of business
Sales to customers	$ 66	78	$ 136	161
Percent Change (as a percent)	(14.70%)		(15.50%)
PHARMACEUTICAL | Pulmonary Hypertension | Other | U.S.
Sales by segment of business
Sales to customers	$ 18	23	$ 41	53
Percent Change (as a percent)	(23.80%)		(23.00%)
PHARMACEUTICAL | Pulmonary Hypertension | Other | International
Sales by segment of business
Sales to customers	$ 48	55	$ 95	108
Percent Change (as a percent)	(10.90%)		(11.70%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other
Sales by segment of business
Sales to customers	$ 950	972	$ 1,877	1,882
Percent Change (as a percent)	(2.20%)		(0.30%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | U.S.
Sales by segment of business
Sales to customers	$ 776	757	$ 1,491	1,429
Percent Change (as a percent)	2.60%		4.30%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | International
Sales by segment of business
Sales to customers	$ 174	215	$ 386	453
Percent Change (as a percent)	(19.00%)		(14.70%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | XARELTO
Sales by segment of business
Sales to customers	$ 637	609	$ 1,215	1,117
Percent Change (as a percent)	4.70%		8.80%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | XARELTO | U.S.
Sales by segment of business
Sales to customers	$ 637	609	$ 1,215	1,117
Percent Change (as a percent)	4.70%		8.80%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | XARELTO | International
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0%		0%
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | Other
Sales by segment of business
Sales to customers	$ 313	363	$ 662	765
Percent Change (as a percent)	(13.80%)		(13.50%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | Other | U.S.
Sales by segment of business
Sales to customers	$ 138	148	$ 275	312
Percent Change (as a percent)	(6.30%)		(11.80%)
PHARMACEUTICAL | Cardiovascular / Metabolism / Other | Other | International
Sales by segment of business
Sales to customers	$ 174	215	$ 386	453
Percent Change (as a percent)	(19.00%)		(14.70%)
MEDTECH
Sales by segment of business
Sales to customers	$ 7,788	6,898	$ 15,269	13,869
Percent Change (as a percent)	12.90%		10.10%
MEDTECH | U.S.
Sales by segment of business
Sales to customers	$ 3,839	3,351	$ 7,598	6,576
Percent Change (as a percent)	14.60%		15.50%
MEDTECH | International
Sales by segment of business
Sales to customers	$ 3,949	3,547	$ 7,671	7,293
Percent Change (as a percent)	11.30%		5.20%
MEDTECH | Interventional Solutions
Sales by segment of business
Sales to customers	$ 1,620	1,049	$ 3,123	2,141
Percent Change (as a percent)	54.40%		45.80%
MEDTECH | Interventional Solutions | U.S.
Sales by segment of business
Sales to customers	$ 908	525	$ 1,771	1,019
Percent Change (as a percent)	73.10%		73.80%
MEDTECH | Interventional Solutions | International
Sales by segment of business
Sales to customers	$ 712	525	$ 1,352	1,123
Percent Change (as a percent)	35.70%		20.50%
MEDTECH | ELECTROPHYSIOLOGY
Sales by segment of business
Sales to customers	$ 1,196	968	$ 2,288	1,970
Percent Change (as a percent)	23.50%		16.20%
MEDTECH | ELECTROPHYSIOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 609	499	$ 1,180	969
Percent Change (as a percent)	22%		21.70%
MEDTECH | ELECTROPHYSIOLOGY | International
Sales by segment of business
Sales to customers	$ 587	469	$ 1,109	1,001
Percent Change (as a percent)	25.10%		10.80%
MEDTECH | ABIOMED(3)
Sales by segment of business
Sales to customers	$ 331	0	$ 655	0
MEDTECH | ABIOMED(3) | U.S.
Sales by segment of business
Sales to customers	272	0	536	0
MEDTECH | ABIOMED(3) | International
Sales by segment of business
Sales to customers	59	0	119	0
MEDTECH | OTHER INTERVENTIONAL SOLUTIONS
Sales by segment of business
Sales to customers	$ 93	81	$ 180	171
Percent Change (as a percent)	15.10%		5.10%
MEDTECH | OTHER INTERVENTIONAL SOLUTIONS | U.S.
Sales by segment of business
Sales to customers	$ 27	26	$ 55	51
Percent Change (as a percent)	4.50%		10.80%
MEDTECH | OTHER INTERVENTIONAL SOLUTIONS | International
Sales by segment of business
Sales to customers	$ 67	56	$ 125	121
Percent Change (as a percent)	20%		2.80%
MEDTECH | Orthopaedics
Sales by segment of business
Sales to customers	$ 2,265	2,157	$ 4,510	4,345
Percent Change (as a percent)	5%		3.80%
MEDTECH | Orthopaedics | U.S.
Sales by segment of business
Sales to customers	$ 1,388	1,338	$ 2,751	2,627
Percent Change (as a percent)	3.70%		4.70%
MEDTECH | Orthopaedics | International
Sales by segment of business
Sales to customers	$ 878	820	$ 1,759	1,719
Percent Change (as a percent)	7%		2.30%
MEDTECH | Orthopaedics | HIPS
Sales by segment of business
Sales to customers	$ 397	388	$ 787	777
Percent Change (as a percent)	2.20%		1.30%
MEDTECH | Orthopaedics | HIPS | U.S.
Sales by segment of business
Sales to customers	$ 250	240	$ 491	465
Percent Change (as a percent)	4.10%		5.60%
MEDTECH | Orthopaedics | HIPS | International
Sales by segment of business
Sales to customers	$ 147	148	$ 296	312
Percent Change (as a percent)	(0.80%)		(5.10%)
MEDTECH | Orthopaedics | KNEES
Sales by segment of business
Sales to customers	$ 363	349	$ 731	688
Percent Change (as a percent)	3.90%		6.30%
MEDTECH | Orthopaedics | KNEES | U.S.
Sales by segment of business
Sales to customers	$ 221	216	$ 447	417
Percent Change (as a percent)	2.40%		7.20%
MEDTECH | Orthopaedics | KNEES | International
Sales by segment of business
Sales to customers	$ 142	133	$ 284	271
Percent Change (as a percent)	6.30%		4.80%
MEDTECH | Orthopaedics | TRAUMA
Sales by segment of business
Sales to customers	$ 739	696	$ 1,496	1,444
Percent Change (as a percent)	6.10%		3.60%
MEDTECH | Orthopaedics | TRAUMA | U.S.
Sales by segment of business
Sales to customers	$ 483	464	$ 974	939
Percent Change (as a percent)	4.30%		3.70%
MEDTECH | Orthopaedics | TRAUMA | International
Sales by segment of business
Sales to customers	$ 255	232	$ 522	505
Percent Change (as a percent)	9.90%		3.20%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER
Sales by segment of business
Sales to customers	$ 766	724	$ 1,495	1,436
Percent Change (as a percent)	5.80%		4.20%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | U.S.
Sales by segment of business
Sales to customers	$ 433	418	$ 839	805
Percent Change (as a percent)	3.50%		4.10%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | International
Sales by segment of business
Sales to customers	$ 334	306	$ 657	630
Percent Change (as a percent)	9%		4.20%
MEDTECH | Surgery
Sales by segment of business
Sales to customers	$ 2,594	2,450	$ 5,028	4,884
Percent Change (as a percent)	5.90%		3%
MEDTECH | Surgery | U.S.
Sales by segment of business
Sales to customers	$ 1,015	992	$ 1,990	1,913
Percent Change (as a percent)	2.20%		4%
MEDTECH | Surgery | International
Sales by segment of business
Sales to customers	$ 1,580	1,458	$ 3,039	2,971
Percent Change (as a percent)	8.40%		2.30%
MEDTECH | Surgery | ADVANCED
Sales by segment of business
Sales to customers	$ 1,222	1,156	$ 2,340	2,302
Percent Change (as a percent)	5.80%		1.70%
MEDTECH | Surgery | ADVANCED | U.S.
Sales by segment of business
Sales to customers	$ 466	454	$ 910	871
Percent Change (as a percent)	2.70%		4.50%
MEDTECH | Surgery | ADVANCED | International
Sales by segment of business
Sales to customers	$ 757	702	$ 1,430	1,431
Percent Change (as a percent)	7.80%		0%
MEDTECH | Surgery | GENERAL
Sales by segment of business
Sales to customers	$ 1,372	1,294	$ 2,688	2,582
Percent Change (as a percent)	6%		4.10%
MEDTECH | Surgery | GENERAL | U.S.
Sales by segment of business
Sales to customers	$ 548	538	$ 1,079	1,042
Percent Change (as a percent)	1.90%		3.60%
MEDTECH | Surgery | GENERAL | International
Sales by segment of business
Sales to customers	$ 823	756	$ 1,608	1,540
Percent Change (as a percent)	8.90%		4.50%
MEDTECH | Vision
Sales by segment of business
Sales to customers	$ 1,308	1,241	$ 2,608	2,498
Percent Change (as a percent)	5.40%		4.40%
MEDTECH | Vision | U.S.
Sales by segment of business
Sales to customers	$ 529	496	$ 1,087	1,017
Percent Change (as a percent)	6.60%		6.90%
MEDTECH | Vision | International
Sales by segment of business
Sales to customers	$ 778	745	$ 1,521	1,481
Percent Change (as a percent)	4.60%		2.70%
MEDTECH | Vision | CONTACT LENSES / OTHER
Sales by segment of business
Sales to customers	$ 939	894	$ 1,892	1,804
Percent Change (as a percent)	5.10%		4.90%
MEDTECH | Vision | CONTACT LENSES / OTHER | U.S.
Sales by segment of business
Sales to customers	$ 409	374	$ 853	774
Percent Change (as a percent)	9.10%		10.10%
MEDTECH | Vision | CONTACT LENSES / OTHER | International
Sales by segment of business
Sales to customers	$ 530	519	$ 1,039	1,030
Percent Change (as a percent)	2.20%		0.90%
MEDTECH | Vision | SURGICAL
Sales by segment of business
Sales to customers	$ 369	347	$ 716	694
Percent Change (as a percent)	6.20%		3.10%
MEDTECH | Vision | SURGICAL | U.S.
Sales by segment of business
Sales to customers	$ 120	122	$ 234	243
Percent Change (as a percent)	(1.10%)		(3.60%)
MEDTECH | Vision | SURGICAL | International
Sales by segment of business
Sales to customers	$ 249	$ 225	$ 482	$ 451
Percent Change (as a percent)	10.10%		6.70%

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
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Segment Reporting Information [Line Items]
Worldwide income before tax	$ 6,762	$ 5,840	$ 6,025	$ 11,702
Percentage Change in Operating Income Loss	15.80%		(48.50%)
Restructuring charges	$ 145	85	$ 275	155
bermekimab
Segment Reporting Information [Line Items]
In-process research and development				600
CONSUMER HEALTH | Baby Powder | Talc
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period			7,000
PHARMACEUTICAL
Segment Reporting Information [Line Items]
Restructuring charges	100		300
Gain (Loss) Related to Litigation Settlement	100		100
MedTech
Segment Reporting Information [Line Items]
Restructuring charges		100		200
Litigation expense		300		300
Gain (Loss) Related to Litigation Settlement	200		200
Acquisition and integration related expense			100
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 7,421	6,345	$ 14,086	12,432
Percentage Change in Operating Income Loss	17%		13.30%
Operating Segments | CONSUMER HEALTH
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 860	784	$ 1,636	1,470
Business Exit Costs	$ 282	268	$ 582	370
Percentage Change in Operating Income Loss	9.70%		11.30%
Amortization	$ 100	100	$ 200	200
Operating Segments | PHARMACEUTICAL
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 4,862	4,420	$ 9,306	8,344
Percentage Change in Operating Income Loss	10%		11.50%
Unrealized gain (loss) on securities		(100)	$ (100)	(500)
Amortization	$ 700	700	1,500	1,500
Other Cost of Operating Revenue	200	300	600	300
Operating Segments | MedTech
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 1,699	1,141	$ 3,144	2,618
Percentage Change in Operating Income Loss	48.90%		20.10%
Amortization	$ 400	300	$ 800	500
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 377	$ 237	$ 7,479	$ 360

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. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Sales by geographic area
Sales	$ 25,530	$ 24,020	$ 50,276	$ 47,446
Percentage Change In Sales By Geographic Area	6.30%		6%
United States
Sales by geographic area
Sales	$ 13,444	12,197	$ 25,961	23,611
Percentage Change In Sales By Geographic Area	10.20%		10%
Europe
Sales by geographic area
Sales	$ 5,894	6,085	$ 12,226	12,109
Percentage Change In Sales By Geographic Area	(3.10%)		1%
Western Hemisphere, excluding U.S.
Sales by geographic area
Sales	$ 1,713	1,536	$ 3,300	3,018
Percentage Change In Sales By Geographic Area	11.50%		9.30%
Asia-Pacific, Africa
Sales by geographic area
Sales	$ 4,479	$ 4,202	$ 8,789	$ 8,708
Percentage Change In Sales By Geographic Area	6.60%		0.90%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 22, 2022	Apr. 02, 2023	Jul. 02, 2023	Jan. 01, 2023
Business Acquisition [Line Items]
Useful life (in years)	14 years
Acquisition related costs			$ 100	$ 300
Goodwill, related to acquisitions			0
Contingent consideration			$ 1,142	$ 1,120
Goodwill, Purchase Accounting Adjustments		$ 100
Non-Tradeable Contingent Value Right
Business Acquisition [Line Items]
Dividends payable (in dollars per share)	$ 8.75
Non-Tradeable Contingent Value Right | Class I Recommendation For Impella
Business Acquisition [Line Items]
Dividends payable (in dollars per share)	10
ABIOMED(3)
Business Acquisition [Line Items]
Share price (in dollars per share)	$ 380
Consideration transferred	$ 17,100
Cash, cash equivalents, and marketable securities acquired	16,500
Assets acquired	19,900
Cash acquired from acquisition	300
Total amortizable intangibles	6,600
In-process research and development	1,100
Marketable securities	600
Liabilities assumed	2,800
Deferred tax liabilities	$ 1,800
Discount rate	9.50%
Goodwill, related to acquisitions	$ 10,900
Contingent consideration	$ 700
ABIOMED(3) | Minimum
Business Acquisition [Line Items]
Probability of success factor	52%
ABIOMED(3) | Maximum
Business Acquisition [Line Items]
Probability of success factor	70%
ABIOMED(3) | Non-Tradeable Contingent Value Right
Business Acquisition [Line Items]
Contingent value right (in dollars per share)	$ 35
Contingent value right	$ 1,600
Dividends payable (in dollars per share)	$ 17.50
Revenues	$ 3,700
ABIOMED(3) | Non-Tradeable Contingent Value Right | Impella
Business Acquisition [Line Items]
Dividends payable (in dollars per share)	$ 7.50

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions

1 Months Ended

3 Months Ended

6 Months Ended

Oct. 31, 2021 USD ($)

Sep. 30, 2021 claimant cases

Jun. 30, 2021 USD ($)

Jun. 30, 2020 USD ($)

Jan. 31, 2020 USD ($)

Oct. 31, 2019 USD ($)

Jul. 31, 2018 USD ($)

Jul. 02, 2023 USD ($) claimant claim

Jul. 02, 2023 USD ($) claimant claim

May 31, 2023 cases

Apr. 24, 2023 USD ($)

Jul. 04, 2021 USD ($)

May 31, 2021 cases claimant

Legal Proceeding (Textuals)

Damages awarded | $

$ 18.8

Bankruptcy Loss Contingency, Discount Rate

4.41%

Judicial Ruling

Legal Proceeding (Textuals)

Damages awarded | $

$ 6.8

$ 8,000

ASR

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

160

160

Pinnacle Acetabular Cup System

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

940

940

Pelvic Meshes

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

7,160

7,160

Risperdal

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

240

240

Talc

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

40,480

40,480

Physiomesh

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

910

910

Physiomesh | Pending Litigation

Legal Proceeding (Textuals)

Number of pending claims | cases

3,600

Number of claims within settlement agreement | cases

3,729

292

Loss Contingency, Claims Dismissed, Number | cases

3,244

Product liability contingency, number of claimants

4,300

Elmiron

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

2,130

2,130

Tylenol

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

520

520

Opioid

Legal Proceeding (Textuals)

Number of pending claims | claim

35

35

Loss Contingency, Pending Claims, Number, Remaining | claim

475

475

Loss Contingency Pending Claims, Number, Additional | claim

2

2

Loss Contingency Accrual | $

$ 5,000

Loss Contingency Accrual, Payments | $

$ 600

Loss contingency accrual, payment percentage

60%

Product liability contingency, number of claimants

3,500

3,500

Ethicon | Pending Litigation

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

3,559

DePuy ASR U.S. | Settled Litigation

Legal Proceeding (Textuals)

Loss Contingency, Claims Settled, Number

10,000

Baby Powder | Talc

Legal Proceeding (Textuals)

Reserve established | $

$ 2,000

Loss Contingency, Reserve Established Within Trust, Total | $

$ 9,000

Loss Contingency, Reserve Established Within Trust, Nominal Value | $

$ 12,000

Loss Contingency, Term

25 years

Ingham v. Johnson & Johnson

Legal Proceeding (Textuals)

Damages awarded | $

$ 2,100

$ 4,700

Loss Contingency, Damages Paid, Value | $

$ 2,500

Kenvue Separation (Details)

Kenvue Separation (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	6 Months Ended
	Jul. 24, 2023	May 08, 2023	Jul. 02, 2023	Jul. 02, 2023	Jul. 03, 2022	Mar. 31, 2023	Jan. 01, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common stock, par value per share (in usd per share)			$ 1	$ 1			$ 1
Proceeds from Kenvue initial public offering (Note 12)				$ 4,241	$ 0
Debt instrument, face amount						$ 7,750
Current Debt			$ 11,701	11,701			$ 12,771
Realized gain (loss) on investment		$ 2,500
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on investment			$ 37	$ 37
Subsequent Event | Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Split-off percentage	80.10%
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		13,200
Unsecured Notes | Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt instrument, face amount		$ 7,700
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common stock, par value per share (in usd per share)		$ 0.01
Sales price per share (in usd per share)		$ 22
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncontrolling ownership interest		10.40%	10.40%	10.40%
Kenvue Inc. | Johnson & Johnson
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares outstanding (in shares)		1,716,160,000
Percentage ownership after transaction		89.60%
Common stock, value			$ 1,300	$ 1,300
Commercial Paper
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current Debt			9,800	9,800
Commercial Paper | Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current Debt		$ 1,200	$ 700	$ 700
IPO | Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued in transaction (in shares)		198,734,444
Proceeds from Kenvue initial public offering (Note 12)		$ 4,200
Over-Allotment Option | Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued in transaction (in shares)		25,921,884
Split-Off Transaction | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount percent	7%
Upper limit exchange (in shares)	8.0549
Tendered price per $100 (in dollars per share)	$ 107.53