Johnson & Johnson (JNJ) 10-Q 27 Oct 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Oct. 01, 2023	Oct. 23, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 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		2,407,278,620
Entity Central Index Key	0000200406
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
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	Oct. 01, 2023	Jan. 01, 2023
Current assets:
Cash and cash equivalents (Note 4)	$ 19,728	$ 12,889
Marketable securities	3,783	9,392
Accounts receivable, trade, less allowances $160 (2022, $169)	14,798	14,039
Inventories (Note 2)	11,198	10,268
Prepaid expenses and other	4,196	2,876
Current assets of discontinued operations (Note 12)	0	5,830
Total current assets	53,703	55,294
Property, plant and equipment at cost	45,626	43,534
Less: accumulated depreciation	(26,805)	(25,552)
Property, plant and equipment, net	18,821	17,982
Intangible assets, net (Note 3)	35,021	38,489
Goodwill (Note 3)	36,124	36,047
Deferred taxes on income (Note 5)	9,259	8,947
Other assets	13,133	9,212
Noncurrent assets of discontinued operations (Note 12)	0	21,407
Total assets	166,061	187,378
Current liabilities:
Loans and notes payable	3,870	12,756
Accounts payable	8,355	9,889
Accrued liabilities	10,101	10,719
Accrued rebates, returns and promotions	15,808	13,579
Accrued compensation and employee related obligations	3,337	3,049
Accrued taxes on income (Note 5)	2,899	2,220
Current liabilities of discontinued operations (Note 12)	0	3,590
Total current liabilities	44,370	55,802
Long-term debt (Note 4)	26,051	26,886
Deferred taxes on income (Note 5)	2,623	3,991
Employee related obligations (Note 6)	5,687	6,542
Long-term taxes payable (Note 5)	2,540	4,306
Other liabilities	13,562	10,146
Noncurrent liabilities of discontinued operations (Note 12)	0	2,901
Total liabilities	94,833	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)	(8,780)	(12,967)
Retained earnings and Additional paid-in capital	152,536	128,345
Less: common stock held in treasury, at cost (712,665,000 and 506,246,000 shares)	75,648	41,694
Total shareholders’ equity	71,228	76,804
Total shareholders’ equity	71,228	76,804
Total liabilities and shareholders’ equity	$ 166,061	$ 187,378

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Current assets:
Allowances for doubtful accounts	$ 160	$ 169
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)	712,665,000	506,246,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Income Statement [Abstract]
Sales to customers (Note 9)	$ 21,351	$ 19,996	$ 63,764	$ 60,051
Sales to customers percent to sales	100%	100%	100%	100%
Cost of products sold	$ 6,606	$ 6,172	$ 19,755	$ 18,512
Cost of products sold percent to sales	30.90%	30.90%	31%	30.80%
Gross profit	$ 14,745	$ 13,824	$ 44,009	$ 41,539
Gross Profit Percent To Sales	69.10%	69.10%	69%	69.20%
Selling, marketing and administrative expenses	$ 5,400	$ 4,975	$ 15,702	$ 14,907
Selling marketing and administrative expenses percent to sales	25.30%	24.90%	24.60%	24.80%
Research and development expense	$ 3,447	$ 3,485	$ 10,605	$ 10,425
Research and development expense percent to sales	16.20%	17.40%	16.60%	17.40%
In-process research and development impairments	$ 206	$ 0	$ 255	$ 610
In-process research and development percent to sales	1%	0%	0.40%	1%
Interest income	$ (374)	$ (150)	$ (898)	$ (236)
Interest income percent to sales	(1.70%)	(0.80%)	(1.40%)	(0.40%)
Interest expense, net of portion capitalized	$ 192	$ 51	$ 621	$ 99
Interest expense, net of portion capitalized percent to sales	0.90%	0.30%	1%	0.20%
Other (income) expense, net	$ 499	$ 226	$ 7,055	$ 15
Other (income) expense, net percent to sales	2.30%	1.10%	11.10%	0%
Restructuring	$ 158	$ 65	$ 433	$ 200
Restructuring charge percent to sales	0.70%	0.30%	0.60%	0.40%
Earnings before provision for taxes on income	$ 5,217	$ 5,172	$ 10,236	$ 15,519
Earnings before provision for taxes on income percent to sales	24.40%	25.90%	16.10%	25.80%
Provision for taxes on income (Note 5)	$ 908	$ 862	$ 1,042	$ 2,376
Provision for taxes on income percent to sales	4.20%	4.30%	1.70%	3.90%
Net earnings from continuing operations	$ 4,309	$ 4,310	$ 9,194	$ 13,143
Net earnings from continuing operations percent of sales	20.20%	21.60%	14.40%	21.90%
Net earnings from discontinued operations, net of tax (Note 12)	$ 21,719	$ 148	$ 21,910	$ 1,278
Net earnings	$ 26,028	$ 4,458	$ 31,104	$ 14,421
NET EARNINGS PER SHARE
Continuing operations - basic (in dollars per share)	$ 1.71	$ 1.64	$ 3.57	$ 5
Discontinued operations - basic (in dollars per share)	8.61	0.06	8.51	0.49
Total net earnings per share - basic (in dollars per share)	10.32	1.70	12.08	5.49
Continuing operations - diluted (in dollars per share)	1.69	1.62	3.53	4.93
Discontinued operations - diluted (in dollars per share)	8.52	0.06	8.42	0.48
Total net earnings per share - diluted (in dollars per share)	$ 10.21	$ 1.68	$ 11.95	$ 5.41
AVG. SHARES OUTSTANDING
Basic (shares)	2,522.9	2,627.9	2,575.6	2,628.9
Diluted (shares)	2,549.7	2,661.3	2,603.4	2,667.5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 26,028	$ 4,458	$ 31,104	$ 14,421
Other comprehensive income (loss), net of tax
Foreign currency translation	448	(1,252)	(448)	(1,957)
Securities:
Unrealized holding gain (loss) arising during period	4	(2)	25	(35)
Net change	4	(2)	25	(35)
Employee benefit plans:
Prior service cost amortization during period	(36)	(37)	(107)	(110)
Gain (loss) amortization during period	(34)	151	(101)	454
Consumer settlement/curtailment	33	0	33	0
Net change	(37)	114	(175)	344
Derivatives & hedges:
Unrealized gain (loss) arising during period	(513)	(204)	(80)	(254)
Reclassifications to earnings	(180)	(105)	(316)	(332)
Net change	(693)	(309)	(396)	(586)
Other comprehensive income (loss)	(278)	(1,449)	(994)	(2,234)
Comprehensive income	$ 25,750	$ 3,009	$ 30,110	$ 12,187

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Comprehensive Income [Abstract]
Foreign Currency Translation	$ 335	$ (181)	$ 69	$ (859)
Securities	1	0	7	(9)
Employee Benefit Plans	8	(33)	51	(98)
Derivatives & Hedges	$ (185)	$ (82)	$ (105)	$ (155)

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	14,421	14,421
Cash dividends paid	(8,728)	(8,728)
Employee compensation and stock option plans	1,832	(836)			2,668
Repurchase of common stock	(4,715)				(4,715)
Other comprehensive income (loss), net of tax	(2,234)		(2,234)
Ending balance at Oct. 02, 2022	74,599	127,917	(15,292)	3,120	(41,146)
Beginning balance at Jul. 03, 2022	76,357	126,216	(13,843)	3,120	(39,136)
Net earnings	4,458	4,458
Cash dividends paid	(2,970)	(2,970)
Employee compensation and stock option plans	368	213			155
Repurchase of common stock	(2,165)				(2,165)
Other comprehensive income (loss), net of tax	(1,449)		(1,449)
Ending balance at Oct. 02, 2022	74,599	127,917	(15,292)	3,120	(41,146)
Beginning balance at Jan. 01, 2023	76,804	128,345	(12,967)	3,120	(41,694)	$ 0
Net earnings	31,104	31,104
Cash dividends paid	(8,905)	(8,905)
Employee compensation and stock option plans	1,892	(435)			2,327
Repurchase of common stock	(4,838)				(4,838)
Other	(25)				(25)
Kenvue Separation	(23,810)	2,427	5,181		(31,418)
Other comprehensive income (loss), net of tax	(994)		(994)
Ending balance at Oct. 01, 2023	71,228	152,536	(8,780)	3,120	(75,648)	0
Beginning balance at Jul. 02, 2023	76,409	129,381	(13,135)	3,120	(44,217)	1,260
Net earnings	26,028	26,028
Cash dividends paid	(2,871)	(2,871)
Employee compensation and stock option plans	948	41			907
Repurchase of common stock	(920)				(920)
Kenvue Separation	(28,088)	(43)	4,633		(31,418)	(1,260)
Other comprehensive income (loss), net of tax	(278)		(278)
Ending balance at Oct. 01, 2023	$ 71,228	$ 152,536	$ (8,780)	$ 3,120	$ (75,648)	$ 0

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends paid (in dollars per share)	$ 1.19	$ 1.13	$ 3.51	$ 3.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 31,104	$ 14,421
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property and intangibles	5,643	5,198
Stock based compensation	984	925
Asset write-downs	820	787
Gain on Kenvue separation	(20,984)	0
Net gain on sale of assets/businesses	(117)	(213)
Deferred tax provision	(1,782)	(2,488)
Credit losses and accounts receivable allowances	0	(14)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
Increase in accounts receivable	(851)	(1,591)
Increase in inventories	(1,447)	(1,877)
Increase in accounts payable and accrued liabilities	664	141
(Increase)/Decrease in other current and non-current assets	(1,366)	4,563
Increase/(Decrease) in other current and non-current liabilities	2,260	(4,008)
NET CASH FLOWS FROM OPERATING ACTIVITIES	14,928	15,844
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(2,954)	(2,422)
Proceeds from the disposal of assets/businesses, net (Note 10)	237	322
Acquisitions, net of cash acquired (Note 10)	0	(522)
Purchases of investments	(9,981)	(31,163)
Sales of investments	15,787	26,324
Credit support agreements activity, net	(917)	(305)
Other (primarily licenses and milestones)	(92)	(208)
NET CASH FROM (USED BY) INVESTING ACTIVITIES	2,080	(7,974)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends to shareholders	(8,905)	(8,728)
Repurchase of common stock	(4,838)	(4,715)
Proceeds from short-term debt (Note 4)	12,462	7,099
Repayment of short-term debt	(21,645)	(4,808)
Proceeds from long-term debt, net of issuance costs (Note 4)	0	1
Repayment of long-term debt	(502)	(2,133)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net	907	907
Credit support agreements activity, net	62	1,678
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation	8,047	0
Proceeds from Kenvue initial public offering (Note 12)	4,241	0
Cash transferred to Kenvue at separation	(1,114)	0
Other	115	128
NET CASH USED BY FINANCING ACTIVITIES	(11,170)	(10,571)
Effect of exchange rate changes on cash and cash equivalents	(237)	(431)
Increase/(Decrease) in cash and cash equivalents	5,601	(3,132)
Cash and cash equivalents from continuing operations, beginning of period	12,889	13,309
Cash and cash equivalents from discontinued operations, beginning of period	1,238	1,178
Cash and Cash equivalents beginning of period	14,127	14,487
Cash and cash equivalents from continuing operations, end of period	19,728	10,347
Cash and cash equivalents from discontinued operations, end of period	0	1,008
CASH AND CASH EQUIVALENTS, END OF PERIOD	19,728	11,355
Acquisitions
Fair value of assets acquired	0	620
Fair value of liabilities assumed	0	(98)
Net cash paid for acquisitions	$ 0	$ 522

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 01, 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. Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures. Kenvue IPO/Separation On May 8, 2023, Kenvue, completed an initial public offering (the IPO) resulting in the issuance of 198,734,444 shares of its common stock, par value $0.01 per share (the “Kenvue Common Stock”), at an initial public offering of $22.00 per share for net proceeds of $4.2 billion. 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 to additional paid-in capital. As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock and at July 2, 2023, the non-controlling interest of $1.3 billion associated with Kenvue was reflected in equity attributable to non-controlling interests in the consolidated balance sheet in the fiscal second quarter. On August 23, 2023, Johnson & Johnson completed the disposition of an additional 80.1% ownership of the shares of Kenvue through an exchange offer. Following the exchange offer, the Company owns 9.5% of the shares of Kenvue which are accounted for as an equity investment carried at fair value within continuing operations. The historical results of the Consumer Health business (which previously represented the Consumer Health business segment) are reflected as discontinued operations in the Company’s consolidated financial statements through the date of the exchange offer (see Note 12 for additional details). Unless otherwise indicated, the information in the notes to the Consolidated Financial Statements refer only to Johnson & Johnson’s continuing operations. Following the completion of the exchange offer, Johnson & Johnson is now organized into two business segments: Innovative Medicine (formerly referred to as Pharmaceutical) and MedTech (see Note 9 for additional details). 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 October 1, 2023, and January 1, 2023, $0.5 billion and $0.7 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 October 1, 2023 There were no new material accounting standards issued in the fiscal nine months of 2023. Reclassification Certain prior period amounts have been reclassified to conform to current year presentation.

Inventories

Inventories	9 Months Ended
	Oct. 01, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES (Dollars in Millions) October 1, 2023 January 1, 2023 Raw materials and supplies $ 2,233 1,719 Goods in process 1,961 1,577 Finished goods 7,004 6,972 Total inventories $ 11,198 10,268

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Oct. 01, 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) October 1, 2023 January 1, 2023 Intangible assets with definite lives: Patents and trademarks — gross $ 39,284 39,388 Less accumulated amortization (23,052) (20,616) Patents and trademarks — net 16,232 18,772 Customer relationships and other intangibles — gross 19,844 19,764 Less accumulated amortization (12,159) (11,363) Customer relationships and other intangibles — net (1) 7,685 8,401 Intangible assets with indefinite lives: Trademarks 1,640 1,630 Purchased in-process research and development 9,464 9,686 Total intangible assets with indefinite lives 11,104 11,316 Total intangible assets — net $ 35,021 38,489 (1) The majority is comprised of customer relationships Goodwill as of October 1, 2023 was allocated by segment of business as follows: (Dollars in Millions) Innovative Medicine MedTech Total Goodwill at January 1, 2023 $ 10,184 25,863 36,047 Goodwill, related to acquisitions — — — Goodwill, related to divestitures — — — Currency translation/Other (35) 112 * 77 Goodwill at October 1, 2023 $ 10,149 25,975 36,124 *Includes purchase price allocation adjustment for Abiomed The weighted average amortization period for patents and trademarks is 11 years. The weighted average amortization period for customer relationships and other intangible assets is 18 years. The amortization expense of amortizable intangible assets for continuing operations included in cost of products sold was $1.1 billion and $1.0 billion for the fiscal third quarters ended October 1, 2023 and October 2, 2022, respectively. The amortization expense of amortizable intangible assets for continuing operations included in cost of products sold was $3.4 billion and $3.0 billion for the fiscal nine months ended October 1, 2023 and October 2, 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 from continuing operations, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2023 2024 2025 2026 2027 $4,500 4,300 3,500 2,900 2,300 See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures. See Note 12 to the Consolidated Financial Statements for additional details related to discontinued operations.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 01, 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 October 1, 2023, the cumulative amount of cash collateral paid by the Company under the CSA amounted to $1.7 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 October 1, 2023, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $42.9 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 $41.5 billion, $36.2 billion and $10.0 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 October 1, 2023, the balance of deferred net loss on derivatives included in accumulated other comprehensive income was $626 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 third quarters ended October 1, 2023 and October 2, 2022, net of tax: October 1, 2023 October 2, 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 $ — — — (61) — — — — (322) — Derivatives designated as hedging instruments — — — 61 — — — — 322 — 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 — — — 31 — — — — 13 — Amount of gain or (loss) recognized in AOCI — — — 31 — — — — 13 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 6 102 (5) — 4 (20) (83) 53 — 22 Amount of gain or (loss) recognized in AOCI (11) (166) 49 — 38 (45) (94) 91 — 36 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 41 — — — — 120 — Amount of gain or (loss) recognized in AOCI $ — — — (454) — — — — (205) — The following table is a summary of the activity related to derivatives and hedges for the fiscal nine months ended October 1, 2023 and October 2, 2022, net of tax: October 1, 2023 October 2, 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 $ — — — (1,165) — — — — (1,094) — Derivatives designated as hedging instruments — — — 1,165 — — — — 1,094 — 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 — — — 98 — — — — 102 — Amount of gain or (loss) recognized in AOCI — — — 98 — — — — 102 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 3 12 (30) — 9 (54) (141) 118 — (35) Amount of gain or (loss) recognized in AOCI (1) 230 20 — 42 (48) (153) 193 — (75) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 223 — — — — 342 — Amount of gain or (loss) recognized in AOCI $ — — — (469) — — — — (273) — As of October 1, 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) October 1, 2023 January 1, 2023 October 1, 2023 January 1, 2023 Long-term Debt $ 8,589 8,665 (1,523) (1,435) The following table is the effect of derivatives not designated as hedging instruments for the fiscal third quarters ended 2023 and 2022: Gain/(Loss) Gain/(Loss) (Dollars in Millions) Location of Gain /(Loss) Recognized in Income on Derivative Fiscal Third Quarter Ended Fiscal Nine Months Ended Derivatives Not Designated as Hedging Instruments October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Foreign Exchange Contracts Other (income) expense $ — 109 2 211 The following table is the effect of net investment hedges for the fiscal third 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) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Debt $ 101 208 Interest (income) expense — — Cross Currency interest rate swaps $ 214 261 Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal nine 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) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Debt $ 35 478 Interest (income) expense — — Cross Currency interest rate swaps $ 880 1,134 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 October 1, 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 (813) 4,260 4,023 4,023 Equity Investments without readily determinable value $ 613 (24) 96 685 685 (1) Recorded in Other Income/Expense (2) Other includes impact of currency * Includes the 9.5% remaining stake in Kenvue and the $0.6 billion unfavorable change in the fair value of the investment between the separation date and the end of the fiscal quarter. 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 October 1, 2023 and January 1, 2023 were as follows: October 1, 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 $ — 901 — 901 629 Interest rate contracts (2) — 1,534 — 1,534 1,534 Total — 2,435 — 2,435 2,163 Liabilities: Forward foreign exchange contracts — 577 — 577 511 Interest rate contracts (2) — 3,669 — 3,669 2,778 Total — 4,246 — 4,246 3,289 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 58 — 58 38 Liabilities: Forward foreign exchange contracts — 47 — 47 68 Other Investments: Equity investments (3) 4,023 — — 4,023 576 Debt securities (4) — 8,407 — 8,407 10,487 Other Liabilities Contingent consideration (5) $ — — 1,178 1,178 1,120 Gross to Net Derivative Reconciliation October 1, 2023 January 1, 2023 (Dollars in Millions) Total Gross Assets $ 2,493 2,201 Credit Support Agreement (CSA) (2,472) (2,176) Total Net Asset 21 25 Total Gross Liabilities 4,293 3,357 Credit Support Agreement (CSA) (4,174) (3,023) Total Net Liabilities $ 119 334 Summarized information about changes in liabilities for contingent consideration for the fiscal third quarters ended October 1, 2023 and October 2, 2022 is as follows: October 1, 2023 October 2, 2022 (Dollars in Millions) Beginning Balance $ 1,120 533 Changes in estimated fair value (6) 62 (85) Additions — 89 Payments (4) (12) Ending Balance $ 1,178 525 (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 $1,172 million and $1,116 million, classified as non-current other liabilities as of October 1, 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 October 1, 2023 comprised: (Dollars in Millions) Carrying Amount Gain/(Loss) Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $ 3,214 — 3,214 3,214 — Non-U.S. sovereign securities 150 — 150 150 — U.S. reverse repurchase agreements 7,261 — 7,261 7,261 — Corporate debt securities (1) 228 — 228 78 150 Money market funds 3,503 — 3,503 3,503 — Time deposits (1) 748 — 748 748 — Subtotal 15,104 — 15,104 14,954 150 Unrealized Loss U.S. Gov’t securities 8,062 (1) 8,061 4,728 3,333 U.S. Gov’t Agencies 95 (2) 93 — 93 Other sovereign securities 6 — 6 2 4 Corporate debt securities 247 — 247 44 203 Subtotal available for sale debt (2) $ 8,410 (3) 8,407 4,774 3,633 Total cash, cash equivalents and current marketable securities $ 23,514 (3) 23,511 19,728 3,783 (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 October 1, 2023 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $ 8,400 8,397 Due after one year through five years 10 10 Due after five years through ten years — — Total debt securities $ 8,410 8,407 Financial Instruments not measured at Fair Value The following financial liabilities are held at carrying amount on the consolidated balance sheet as of October 1, 2023: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $ 3,870 3,852 Non-Current Debt 5.50% Notes due 2024 (500MM GBP 1.2190) 609 609 2.625% Notes due 2025 750 726 0.55% Notes due 2025 947 916 2.45% Notes due 2026 1,997 1,879 2.95% Notes due 2027 882 937 0.95% Notes due 2027 1,409 1,290 2.90% Notes due 2028 1,497 1,384 1.150% Notes due 2028 (750MM Euro 1.0534) 786 705 6.95% Notes due 2029 298 337 1.30% Notes due 2030 1,604 1,377 4.95% Debentures due 2033 499 507 4.375% Notes due 2033 854 809 1.650% Notes due 2035 (1.5B Euro 1.0534) 1,568 1,282 3.55% Notes due 2036 831 852 5.95% Notes due 2037 994 1,060 3.625% Notes due 2037 1,321 1,261 3.40% Notes due 2038 993 823 5.85% Debentures due 2038 697 735 4.50% Debentures due 2040 541 502 2.10% Notes due 2040 809 639 4.85% Notes due 2041 297 282 4.50% Notes due 2043 496 450 3.70% Notes due 2046 1,977 1,555 3.75% Notes due 2047 787 788 3.50% Notes due 2048 743 564 2.25% Notes due 2050 776 573 2.45% Notes due 2060 1,025 695 Other 64 62 Total Non-Current Debt $ 26,051 23,599 The weighted average effective interest rate on non-current debt is 3.08%. 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.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The worldwide effective income tax rates for the fiscal nine months of 2023 and 2022 were 10.2% and 15.3%, respectively. The decrease in the current year consolidated tax rate is primarily due to 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 nine months of 2023 (for further information see Note 11 to the Consolidated Financial Statements). 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 are offset by one-time tax costs in the fiscal nine months of 2022. The Company also received tax benefits from stock-based compensation that were either exercised or vested during each of the fiscal nine months ended. As of October 1, 2023, the Company had approximately $2.3 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 within the next 6 months. As a result, the Company has classified approximatel y $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 third 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	9 Months Ended
	Oct. 01, 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 Third Quarter Ended Fiscal Nine Months Ended Retirement Plans Other Benefit Plans Retirement Plans Other Benefit Plans (Dollars in Millions) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Service cost $ 210 313 61 80 638 953 198 240 Interest cost 363 226 51 26 1,090 685 160 79 Expected return on plan assets (680) (683) (1) (2) (2,042) (2,075) (4) (6) Amortization of prior service cost/(credit) (47) (46) — (1) (139) (138) (1) (4) Recognized actuarial (gains) losses (50) 163 4 30 (150) 492 17 91 Curtailments and settlements 72 — (9) — 72 1 (9) — Net periodic benefit cost/(credit) $ (132) (27) 106 133 (531) (82) 361 400 Net periodic benefit cost (credit) for pension and other benefit plans in the third quarter and first nine months of 2023 includes expenses for curtailments and settlements in connection with the separation of Kenvue. In addition, approximately $0.1 billion of net pension liabilities were transferred to Kenvue. 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, Selling, marketing and administrative expenses, and Net earnings from discontinued operations, net of taxes if related to the separation of Kenvue. All other components of net periodic benefit cost are presented as part of Other (income) expense, net on the Consolidated Statement of Earnings, with the exception of certain amounts for curtailments and settlements, which are reported in Net earnings from discontinued operations, net of taxes if related to the separation of Kenvue (as noted above). Company Contributions For the fiscal nine months ended October 1, 2023, the Company contributed $92 million and $18 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	9 Months Ended
	Oct. 01, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME Components of other comprehensive income (loss) consist of the following: Foreign Currency Gain/(Loss) On Employee Benefit Gain/(Loss) On Derivatives Total Accumulated Other Comprehensive (Dollars in Millions) Translation Securities Plans & Hedges Income (Loss) January 1, 2023 $ (11,813) (27) (897) (230) (12,967) Change from continuing operations (448) 25 (175) (396) (994) Kenvue Separation 4,885 ** 0 296 * 0 5,181 Net change 4,437 25 121 (396) 4,187 October 1, 2023 (7,376) (2) (776) (626) (8,780) 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. *Includes impact of curtailments and settlements in connection with the separation from Kenvue. **Includes $548 million of foreign currency translation associated with the non controlling interest.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 01, 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 Third Quarter Ended Fiscal Nine Months Ended (Shares in Millions) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Basic net earnings per share from continuing operations $ 1.71 1.64 3.57 5.00 Basic net earnings per share from discontinued operations 8.61 0.06 8.51 0.49 Total net earnings per share - basic 10.32 1.70 12.08 5.49 Average shares outstanding — basic 2,522.9 2,627.9 2,575.6 2,628.9 Potential shares exercisable under stock option plans 119.2 140.1 96.9 141.1 Less: shares which could be repurchased under treasury stock method (92.4) (106.7) (69.1) (102.5) Average shares outstanding — diluted 2,549.7 2,661.3 2,603.4 2,667.5 Diluted net earnings per share from continuing operations 1.69 1.62 3.53 4.93 Diluted net earnings per share from discontinuing operations 8.52 0.06 8.42 0.48 Total net earnings per share - diluted $ 10.21 1.68 11.95 5.41 The diluted net earnings per share calculation for the fiscal third quarter ended October 1, 2023 excluded 16.4 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 third quarter ended October 2, 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 nine months ended October 1, 2023 excluded 42.9 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 nine months ended October 2, 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	9 Months Ended
	Oct. 01, 2023
Segment Reporting [Abstract]
Segments of Business and Geographic Areas	SEGMENTS OF BUSINESS AND GEOGRAPHIC AREAS Following the separation of the Consumer Health business in the fiscal third quarter of 2023, the Company is now organized into two business segments: Innovative Medicine (formerly referred to as Pharmaceutical) and MedTech. The segment results have been recast for all periods to reflect the continuing operations of the Company. SALES BY SEGMENT OF BUSINESS Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, October 2, Percent October 1, October 2, Percent Change INNOVATIVE MEDICINE Immunology U.S. 3,193 2,876 11.0 8,506 8,230 3.3 International 1,656 1,411 17.4 4,951 4,587 7.9 Worldwide 4,849 4,287 13.1 13,457 12,817 5.0 REMICADE U.S. 296 350 (15.4) 849 1,099 (22.7) U.S. Exports 38 39 (2.5) 112 163 (31.3) International 127 169 (25.1) 449 606 (25.9) Worldwide 461 558 (17.4) 1,410 1,868 (24.5) SIMPONI / SIMPONI ARIA U.S. 310 298 3.9 866 886 (2.3) International 319 248 29.1 829 797 4.1 Worldwide 629 545 15.3 1,695 1,682 0.8 STELARA U.S. 1,912 1,655 15.5 5,180 4,766 8.7 International 951 794 19.9 2,925 2,571 13.8 Worldwide 2,864 2,449 16.9 8,105 7,336 10.5 TREMFYA U.S. 634 530 19.6 1,490 1,303 14.4 International 258 200 29.0 747 613 21.9 Worldwide 891 729 22.2 2,237 1,916 16.8 OTHER IMMUNOLOGY U.S. 2 5 (47.1) 9 14 (36.1) International 0 0 — 0 0 — Worldwide 2 5 (47.1) 9 14 (36.1) Infectious Diseases U.S. 360 390 (7.8) 1,147 1,266 (9.4) International 500 905 (44.8) 2,420 2,642 (8.4) Worldwide 859 1,295 (33.6) 3,566 3,908 (8.7) COVID-19 VACCINE U.S. — — — — 120 * International 41 489 (91.5) 1,073 1,370 (21.6) Worldwide 41 489 (91.5) 1,073 1,490 (27.9) EDURANT / rilpivirine U.S. 9 9 10.2 26 27 (0.5) International 287 237 21.4 816 691 18.2 Worldwide 297 245 21.0 843 718 17.5 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 345 372 (7.3) 1,105 1,096 0.9 International 102 112 (9.5) 310 354 (12.5) Worldwide 447 485 (7.8) 1,415 1,450 (2.4) OTHER INFECTIOUS DISEASES U.S. 5 10 (42.7) 15 24 (35.5) International 69 68 2.0 220 228 (3.4) Worldwide 74 77 (3.6) 235 251 (6.4) Neuroscience U.S. 1,036 919 12.7 3,043 2,658 14.5 International 706 763 (7.4) 2,296 2,498 (8.1) Worldwide 1,742 1,681 3.6 5,339 5,156 3.5 CONCERTA / methylphenidate U.S. 57 41 38.1 191 114 67.4 International 133 117 13.6 412 362 13.8 Worldwide 189 158 20.0 603 476 26.7 INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 730 684 6.8 2,164 2,036 6.3 International 299 348 (14.0) 940 1,097 (14.3) Worldwide 1,029 1,031 (0.2) 3,104 3,132 (0.9) SPRAVATO U.S. 154 88 75.1 409 223 83.1 International 29 12 * 74 32 * Worldwide 183 100 82.1 483 255 88.8 OTHER NEUROSCIENCE (1) U.S. 94 106 (11.3) 278 285 (2.3) International 245 286 (13.9) 870 1,007 (13.5) Worldwide 340 393 (13.2) 1,149 1,293 (11.0) Oncology U.S. 2,219 1,812 22.5 6,177 5,073 21.8 International 2,313 2,252 2.7 6,865 6,983 (1.7) Worldwide 4,533 4,064 11.5 13,043 12,056 8.2 CARVYKTI U.S. 140 55 * 324 79 * International 12 — * 17 — * Worldwide 152 55 * 341 79 * DARZALEX U.S. 1,369 1,097 24.8 3,882 3,071 26.4 International 1,130 955 18.3 3,312 2,823 17.3 Worldwide 2,499 2,052 21.8 7,194 5,894 22.1 ERLEADA U.S. 288 254 12.9 778 693 12.2 International 342 235 45.8 961 647 48.7 Worldwide 631 490 28.7 1,740 1,340 29.8 IMBRUVICA U.S. 264 353 (25.2) 796 1,072 (25.8) International 545 559 (2.5) 1,681 1,847 (9.0) Worldwide 808 911 (11.3) 2,476 2,918 (15.2) ZYTIGA / abiraterone acetate U.S. 16 16 (2.8) 41 54 (24.9) International 199 440 (54.9) 646 1,446 (55.3) Worldwide 214 456 (53.0) 686 1,500 (54.2) OTHER ONCOLOGY U.S. 143 37 * 357 104 * International 86 64 34.5 248 220 12.5 Worldwide 229 100 * 605 324 86.5 Pulmonary Hypertension U.S. 680 604 12.6 1,964 1,736 13.1 International 274 247 10.5 835 810 3.0 Worldwide 954 852 12.0 2,798 2,547 9.9 OPSUMIT U.S. 323 289 12.2 924 827 11.8 International 166 152 9.3 512 495 3.5 Worldwide 490 441 11.2 1,437 1,322 8.7 UPTRAVI U.S. 336 283 18.9 978 824 18.7 International 66 50 30.9 185 162 14.1 Worldwide 402 333 20.7 1,163 986 18.0 OTHER PULMONARY HYPERTENSION U.S. 20 33 (37.1) 61 86 (28.4) International 42 46 (7.5) 137 154 (10.5) Worldwide 63 78 (19.8) 199 239 (16.9) Cardiovascular / Metabolism / Other U.S. 763 837 (8.8) 2,254 2,266 (0.5) International 194 198 (2.1) 580 651 (10.8) Worldwide 957 1,034 (7.5) 2,834 2,916 (2.8) XARELTO U.S. 625 689 (9.4) 1,840 1,806 1.9 International — — — — — — Worldwide 625 689 (9.4) 1,840 1,806 1.9 OTHER (2) U.S. 139 147 (6.1) 414 459 (9.9) International 194 198 (2.1) 580 651 (10.8) Worldwide 332 345 (3.8) 994 1,110 (10.5) TOTAL INNOVATIVE MEDICINE U.S. 8,249 7,438 10.9 23,090 21,229 8.8 International 5,644 5,776 (2.3) 17,947 18,171 (1.2) Worldwide 13,893 13,214 5.1 41,037 39,400 4.2 MEDTECH Interventional Solutions U.S. 891 547 63.0 2,662 1,566 70.0 International 667 513 29.9 2,019 1,636 23.4 Worldwide 1,558 1,060 47.0 4,681 3,202 46.2 ELECTROPHYSIOLOGY U.S. 611 520 17.6 1,791 1,489 20.3 International 549 453 21.2 1,658 1,454 14.0 Worldwide 1,161 973 19.3 3,449 2,943 17.2 ABIOMED (3) U.S. 254 — * 790 — * International 57 — * 176 — * Worldwide 311 — * 966 — * OTHER INTERVENTIONAL SOLUTIONS U.S. 26 27 (3.2) 81 77 5.9 International 61 60 1.0 186 181 2.2 Worldwide 87 87 (0.3) 267 258 3.3 Orthopaedics U.S. 1,349 1,309 3.1 4,100 3,936 4.2 International 815 785 3.9 2,574 2,504 2.8 Worldwide 2,164 2,095 3.4 6,674 6,440 3.6 HIPS U.S. 239 228 4.9 730 693 5.4 International 136 124 9.3 432 437 (1.0) Worldwide 375 352 6.5 1,162 1,129 2.9 KNEES U.S. 207 203 2.3 654 620 5.6 International 131 115 14.6 415 386 7.7 Worldwide 338 317 6.7 1,069 1,005 6.4 TRAUMA U.S. 488 473 3.2 1,462 1,412 3.5 International 253 244 4.2 775 749 3.5 Worldwide 742 717 3.5 2,238 2,161 3.5 SPINE, SPORTS & OTHER U.S. 415 406 2.3 1,254 1,211 3.5 International 295 303 (2.6) 952 933 2.0 Worldwide 710 708 0.2 2,205 2,144 2.8 Surgery U.S. 994 984 1.1 2,984 2,897 3.0 International 1,483 1,439 3.1 4,522 4,410 2.6 Worldwide 2,479 2,422 2.3 7,507 7,306 2.7 ADVANCED U.S. 455 457 (0.4) 1,365 1,328 2.8 International 709 701 1.0 2,139 2,132 0.3 Worldwide 1,164 1,158 0.5 3,504 3,460 1.3 GENERAL U.S. 540 527 2.4 1,619 1,569 3.2 International 775 737 5.1 2,383 2,277 4.7 Worldwide 1,314 1,264 4.0 4,002 3,846 4.1 Vision U.S. 512 517 (1.0) 1,599 1,534 4.2 International 744 689 8.1 2,265 2,170 4.4 Worldwide 1,256 1,206 4.2 3,864 3,704 4.3 CONTACT LENSES / OTHER U.S. 399 405 (1.2) 1,252 1,179 6.2 International 529 503 4.9 1,568 1,533 2.3 Worldwide 928 908 2.2 2,820 2,712 4.0 SURGICAL U.S. 112 112 (0.1) 346 355 (2.5) International 216 186 16.6 698 637 9.6 Worldwide 328 298 10.3 1,044 992 5.3 TOTAL MEDTECH U.S. 3,747 3,356 11.6 11,345 9,932 14.2 International 3,711 3,426 8.3 11,382 10,719 6.2 Worldwide 7,458 6,782 10.0 22,727 20,651 10.0 WORLDWIDE U.S. 11,996 10,794 11.1 34,435 31,161 10.5 International 9,355 9,202 1.6 29,329 28,890 1.5 Worldwide $ 21,351 19,996 6.8 % $ 63,764 60,051 6.2 % *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 Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, October 2, Percent October 1, October 2, Percent Innovative Medicine (1) $ 4,794 4,186 14.5 % $ 14,008 12,424 12.7 % MedTech (2) 1,185 1,090 8.7 4,265 3,641 17.1 Segment earnings before provision for taxes 5,979 5,276 13.3 18,273 16,065 13.7 Less: Expense not allocated to segments (3) 762 104 8,037 546 Worldwide income before tax $ 5,217 5,172 0.9 % $ 10,236 15,519 (34.0) % (1) Innovative Medicine includes: • Intangible amortization expense of $0.7 billion in both the fiscal third quarter of 2023 and 2022. Intangible amortization expense of $2.2 billion in both the fiscal nine months of 2023 and 2022. • One-time COVID-19 Vaccine related exit costs of $0.4 billion in the fiscal third quarter of 2022 and $0.7 billion in both the fiscal nine months of 2023 and 2022. • A restructuring related charge of $0.1 billion and $0.4 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. • In the fiscal third quarter and fiscal nine months of 2023, the Company recorded an intangible asset impairment charge of approximately $0.2 billion related to market dynamics associated with a non-strategic asset (M710) acquired as part of the acquisition of Momenta Pharmaceuticals in 2020. In the fiscal nine 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 $0.4 billion and $0.2 billion in the fiscal third quarter of 2023 and 2022, respectively. Unfavorable changes in the fair value of securities of $0.5 billion and $0.7 billion in the fiscal nine months of 2023 and 2022, respectively. • Favorable litigation related items of $0.1 billion in the fiscal nine months of 2023. (2) MedTech includes: • Intangible amortization expense of $0.4 billion and $0.3 billion in the fiscal third quarter of 2023 and 2022, respectively. Intangible amortization expense of $1.1 billion and $0.8 billion in the fiscal nine months of 2023 and 2022, respectively. • Litigation expense of $0.2 billion and $0.5 billion in the fiscal third quarter and fiscal nine months of 2022. • Acquisition and integration related expense of $0.1 billion in the fiscal nine months of 2023. • A restructuring related charge of $0.2 billion in the fiscal third quarter and fiscal nine months of 2023. A restructuring related charge of $0.1 billion in the fiscal third quarter of 2022 and $0.2 billion in the fiscal nine months of 2022. (3) Amounts not allocated to segments include interest income/expense and general corporate income/expense. The fiscal nine 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) and $0.6 billion related to the unfavorable change in the fair value of Kenvue shares. SALES BY GEOGRAPHIC AREA Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 2, 2022 Percent October 1, 2023 October 2, 2022 Percent Change United States $ 11,996 10,794 11.1 % $ 34,435 31,161 10.5 % Europe 4,727 4,844 (2.4) 15,448 15,540 (0.6) Western Hemisphere, excluding U.S. 1,171 1,059 10.5 3,383 3,084 9.7 Asia-Pacific, Africa 3,457 3,299 4.8 10,498 10,266 2.2 Total $ 21,351 19,996 6.8 % $ 63,764 60,051 6.2 %

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Oct. 01, 2023
Business Combinations [Abstract]
Acquisitions and Divestitures	ACQUISITIONS AND DIVESTITURES There were no material acquisitions or divestitures in the fiscal first, second or third 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, $8.75 per 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 and third quarters 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 nine 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	9 Months Ended
	Oct. 01, 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 October 1, 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 have been asserted against Johnson & Johnson Consumer Inc., its successor LTL Management LLC and the Company arising out of the use of body powders containing talc, primarily JOHNSON’S Baby Powder. 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 remained 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 was permitted to proceed. No trials could 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. 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 September 2023, the Bankruptcy Court entered an order granting LTL leave to seek a direct appeal to the Third Circuit Court of Appeals. On October 20, 2023, the Third Circuit granted LTL’s petition for a direct appeal. Since the dismissal of the LTL 2 Bankruptcy case, litigation in the tort system has reactivated. 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. During the bankruptcy proceedings LTL had been de-consolidated by 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 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, of which approximately one-third is recorded as a current liability, remains the Company’s best 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. Argument on the motions is scheduled for November 2023. 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 for relief 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 its bankruptcy, Imerys proposed a chapter 11 plan (the Imerys Plan) that contemplated all talc-related claims against it being channeled to a trust along with its alleged indemnification rights against the Company. Following confirmation and consummation of the plan, the trust would pay talc claims pursuant to proposed trust distribution procedures and then seek indemnification from the Company. In February 2021, Cyprus Mines Corporation (Cyprus), which had owned certain Imerys talc mines, 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 affiliated parties. The Imerys Plan proceeded to solicitation in early 2021. However, the Imerys Plan did not receive the requisite number of votes to be confirmed after the Bankruptcy Court ruled certain votes cast in favor of the Imerys Plan should be disregarded. Imerys subsequently canceled its confirmation hearing. Imerys, the Imerys Tort Claimants’ Committee, and the Imerys Future Claimants’ Representative, along with Cyprus, the Cyprus Tort Claimants’ Committee, and the Cyprus Future Claimants’ Representative (collectively the Mediation Parties) have been engaged in mediation since shortly after the confirmation hearing was cancelled in October 2021. In September 2023, the Bankruptcy Court entered an order extending the term of the mediation among the Mediation Parties through the end of December 2023. The Bankruptcy Court also authorized Imerys and Cyprus to proceed with mediation with certain of their insurers. In September 2023, Imerys and Cyprus filed amended plans of reorganization. The amended plans contemplate a similar construct as the prior Imerys and Cyprus Plans, including all talc claims against Imerys and Cyprus (and certain other protected parties) being channeled to a trust along with Imerys’s and Cyprus’s alleged indemnification rights against the Company. Imerys and Cyprus have not yet filed disclosure statements for their respective chapter 11 plans. 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. Fact discovery is proceeding and scheduled to be completed by December 2023. 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. In September 2023, the stay lifted. The deadline for Plaintiff's reply brief has not yet been set. 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 Company continues to engage the states on potential resolution of claims. The unique 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 third 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 third 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 September 2023, the Company and JPI have 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, 430 remaining cases in the Ohio MDL, and 3 additional cases in other federal courts. Some of these cases have been dismissed and are being appealed by the plaintiffs; a handful of others are scheduled for trial in 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 October 1, 2023: Product or product category Number of Plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 52,220 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 930 Pelvic meshes 6,960 ETHICON PHYSIOMESH Flexible Composite Mesh 720 RISPERDAL 220 ELMIRON 2,150 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 filed in state courts and in countries outside of the United States. During the first quarter of 2019, DePuy established a United States settlement program to resolve these cases. As part of the settlement program, adverse verdicts have been settled. The Company has established an accrual for product liability litigation associated with the PINNACLE Acetabular Cup System and the related settlement program. Ethicon Pelvic Mesh Claims for personal injury have been made against Ethicon, Inc. (Ethicon) and the Company arising out of Ethicon’s pelvic mesh devices used to treat stress urinary incontinence and pelvic organ prolapse. The Company continues to receive information with respect to potential costs and additional cases. Cases filed in federal courts in the United States had been organized as a multi-district litigation (MDL) in the United States District Court fo

Kenvue Separation

Kenvue Separation	9 Months Ended
	Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
Kenvue Separation	NOTE 12— KENVUE SEPARATION On May 8, 2023, Kenvue, completed an initial public offering (the IPO) resulting in the issuance of 198,734,444 shares of its common stock, par value $0.01 per share (the “Kenvue Common Stock”), at an initial public offering of $22.00 per share for net proceeds of $4.2 billion. 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 to additional paid-in capital. As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock and at July 2, 2023, the non-controlling interest of $1.3 billion associated with Kenvue was reflected in equity attributable to non-controlling interests in the consolidated balance sheet in the fiscal second quarter. On August 23, 2023, Johnson & Johnson completed the disposition of an additional 80.1% ownership of Kenvue Common Stock through an exchange offer, which resulted in Johnson & Johnson acquiring 190,955,436 shares of the Company’s common stock in exchange for 1,533,830,450 shares of Kenvue Common Stock. The $31.4 billion of Johnson & Johnson common stock received in the exchange offer is recorded in Treasury stock. Following the exchange offer, the Company owns 9.5% of the total outstanding shares of Kenvue Common Stock that was recorded in other assets within continuing operations at the fair market value of $4.3 billion as of August 23, 2023. Johnson & Johnson divested net assets of $11.6 billion as of August 23, 2023, and the accumulated other comprehensive loss attributable to the Consumer Health business at that date was $4.3 billion. Additionally, at the date of the exchange offer, Johnson & Johnson decreased the non-controlling interest by $1.2 billion to record the deconsolidation of Kenvue. This resulted in a non-cash gain on the exchange offer of $21.0 billion that was recorded in Net earnings from discontinued operations, net of taxes in the consolidated statements of earnings for the fiscal third quarter of 2023. This one-time gain includes a gain of $2.8 billion on the Kenvue Common Stock retained by Johnson & Johnson. The gain on the exchange offer qualifies as a tax-free transaction for U.S. federal income tax purposes. Also in connection with the separation, Johnson & Johnson and Kenvue entered into a separation agreement and also entered into various other agreements that provide for certain transactions to effect the transfer of the assets and liabilities of the Consumer Health business to Kenvue and to govern various interim and ongoing relationships between Kenvue and Johnson & Johnson following the completion of the Kenvue IPO, including transition services agreements (TSAs), transition manufacturing agreements (TMAs), trademark agreements, intellectual property agreements, an employee matters agreement, and a tax matters agreement. Under the TSAs, Johnson & Johnson will provide Kenvue various services and, similarly, Kenvue will provide Johnson & Johnson various services. The provision of services under the TSAs generally will terminate within 24 months following the Kenvue IPO. Additionally, Johnson & Johnson and Kenvue entered into TMAs pursuant to which Johnson & Johnson will manufacture and supply to Kenvue certain products and, similarly, Kenvue will manufacture and supply to Johnson & Johnson certain products. The terms of the TMAs range in initial duration from 3 months to 5 years. Amounts related to the TSAs and TMAs included in the consolidated statements of earnings were immaterial for the fiscal third quarter and fiscal nine months ended October 1, 2023. Additionally, the amounts due to and from Kenvue for the above agreements was not material as of October 1, 2023. The results of the Consumer Health business (previously reported as a separate business segment), as well as the associated gain, have been reflected as discontinued operations in the Company’s consolidated statements of earnings as Net earnings from discontinued operations, net of taxes through August 23, 2023, the date of the exchange offer. Prior periods have been recast to reflect this presentation. As a result of the separation of Kenvue, Johnson & Johnson incurred separation costs of $330 million and $912 million in the fiscal third quarter and fiscal nine months ended October 1, 2023, respectively, and $249 million and $619 million in the fiscal third quarter and fiscal nine months ended October 2, 2022, respectively, which are also included in Net earnings from discontinued operations, net of taxes. These costs were primarily related to external advisory, legal, accounting, contractor and other incremental costs directly related to separation activities. As of January 1, 2023, the assets and liabilities associated with the Consumer Health business were classified as assets and liabilities of discontinued operations in the consolidated balance sheets. Details of Net Earnings from Discontinued Operations, net of taxes are as follows: Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 (1) October 2, 2022 October 1, 2023 (1) October 2, 2022 Sales to customers $ 2,173 3,795 10,036 11,186 Cost of products sold 911 1,635 4,369 4,812 Gross profit 1,262 2,160 5,667 6,374 Selling, marketing and administrative expenses 584 1,114 3,085 3,346 Research and development expense 24 112 258 337 Interest Income (37) — (117) — Interest expense, net of portion capitalized (Note 4) 67 — 199 — Other (income) expense, net 406 267 1,018 649 Gain on separation of Kenvue (20,984) — (20,984) — Restructuring — 17 — 37 Earnings from Discontinued Operations Before Provision for Taxes on Income 21,202 650 22,208 2,005 (Benefit from)/Provision for taxes on income (Note 5) (517) 502 298 727 Net earnings from Discontinued Operations 21,719 148 21,910 1,278 (1) The Company ceased consolidating the results of the Consumer Health business on August 23, 2023, the date of the exchange offer, but continued to reflect any separation costs incurred as part of discontinued operations through the end of the fiscal third quarter. The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue: Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 2, 2022 Depreciation and Amortization 383 482 Capital expenditures 162 178 Details of assets and liabilities of discontinued operations are as follows: January 1, 2023 Assets Current assets Cash and cash equivalents $ 1,238 Accounts receivable trade, less allowances for doubtful accounts 2,121 Inventories 2,215 Prepaid expenses and other receivables 256 Total current assets of discontinued operations 5,830 Property, plant and equipment, net 1,821 Intangible assets, net 9,836 Goodwill 9,184 Deferred taxes on income 176 Other assets 390 Total noncurrent assets of discontinued operations $ 21,407 Liabilities Loans and notes payable $ 15 Accounts payable 1,814 Accrued liabilities 737 Accrued rebates, returns and promotions 838 Accrued compensation and employee related obligations 279 Accrued taxes on income (93) Total current liabilities of discontinued operations 3,590 Long-term debt 2 Deferred taxes on income 2,383 Employee related obligations 225 Other liabilities 291 Total noncurrent liabilities of discontinued operations $ 2,901

Restructuring

Restructuring	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING In fiscal 2023, the Company commenced restructuring actions within its Innovative Medicine and MedTech segments. The amounts and details of the current year programs are included below. In fiscal 2023, the Company completed a prioritization of its research and development (R&D) investment within its Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within certain therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. Pre-tax Restructuring expenses of $149 million in the fiscal third quarter and $424 million in the fiscal nine months included the termination of partnered and non-partnered development program costs and asset impairments. The estimated costs of these total activities is between $500 - $600 million and is expected to be completed in fiscal year 2024. In the third quarter of 2023, the Company initiated a restructuring program of its Orthopaedics franchise within its MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The pre-tax restructuring expense of $235 million in the fiscal third quarter and nine months primarily included inventory and instrument charges related to market and product exits. The estimated costs of the total program are between $700 million - $800 million and is expected to be completed by the end of fiscal year 2025. The following table summarizes the restructuring expenses for 2023: (Pre-tax Dollars in Millions) Fiscal Third Quarter Ended Fiscal Nine Months Ended Innovative Medicine Segment (1) $ 149 424 MedTech Segment (2) 235 235 Total Programs $ 384 659 (1 ) Included in Restructuring on the Consolidated Statement of Earnings (2) Included $9 million in the Restructuring and $226 million in Cost of products sold on the Consolidated Statement of Earnings

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Pay vs Performance Disclosure
Net earnings	$ 26,028	$ 4,458	$ 31,104	$ 14,421

Insider Trading Arrangements

Insider Trading Arrangements shares in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2023 shares	Oct. 01, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Peter Fasolo [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 31, 2023, Peter Fasolo, Executive Vice President, Chief Human Resources Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) for the sale of up to 25,000 shares of the Company’s Common Stock, subject to certain conditions. The arrangement's expiration date is November 29, 2024.
Name	Peter Fasolo
Title	Executive Vice President, Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 31, 2023
Arrangement Duration	456 days
Aggregate Available	25	25

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 01, 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 October 1, 2023, and January 1, 2023, $0.5 billion and $0.7 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 October 1, 2023 There were no new material accounting standards issued in the fiscal nine 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)	9 Months Ended
	Oct. 01, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	(Dollars in Millions) October 1, 2023 January 1, 2023 Raw materials and supplies $ 2,233 1,719 Goods in process 1,961 1,577 Finished goods 7,004 6,972 Total inventories $ 11,198 10,268

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	(Dollars in Millions) October 1, 2023 January 1, 2023 Intangible assets with definite lives: Patents and trademarks — gross $ 39,284 39,388 Less accumulated amortization (23,052) (20,616) Patents and trademarks — net 16,232 18,772 Customer relationships and other intangibles — gross 19,844 19,764 Less accumulated amortization (12,159) (11,363) Customer relationships and other intangibles — net (1) 7,685 8,401 Intangible assets with indefinite lives: Trademarks 1,640 1,630 Purchased in-process research and development 9,464 9,686 Total intangible assets with indefinite lives 11,104 11,316 Total intangible assets — net $ 35,021 38,489 (1) The majority is comprised of customer relationships
Goodwill	Goodwill as of October 1, 2023 was allocated by segment of business as follows: (Dollars in Millions) Innovative Medicine MedTech Total Goodwill at January 1, 2023 $ 10,184 25,863 36,047 Goodwill, related to acquisitions — — — Goodwill, related to divestitures — — — Currency translation/Other (35) 112 * 77 Goodwill at October 1, 2023 $ 10,149 25,975 36,124
Intangible Asset Amortization Expense	The estimated amortization expense for approved products from continuing operations, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2023 2024 2025 2026 2027 $4,500 4,300 3,500 2,900 2,300

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 01, 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 third quarters ended October 1, 2023 and October 2, 2022, net of tax: October 1, 2023 October 2, 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 $ — — — (61) — — — — (322) — Derivatives designated as hedging instruments — — — 61 — — — — 322 — 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 — — — 31 — — — — 13 — Amount of gain or (loss) recognized in AOCI — — — 31 — — — — 13 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 6 102 (5) — 4 (20) (83) 53 — 22 Amount of gain or (loss) recognized in AOCI (11) (166) 49 — 38 (45) (94) 91 — 36 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 41 — — — — 120 — Amount of gain or (loss) recognized in AOCI $ — — — (454) — — — — (205) — The following table is a summary of the activity related to derivatives and hedges for the fiscal nine months ended October 1, 2023 and October 2, 2022, net of tax: October 1, 2023 October 2, 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 $ — — — (1,165) — — — — (1,094) — Derivatives designated as hedging instruments — — — 1,165 — — — — 1,094 — 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 — — — 98 — — — — 102 — Amount of gain or (loss) recognized in AOCI — — — 98 — — — — 102 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 3 12 (30) — 9 (54) (141) 118 — (35) Amount of gain or (loss) recognized in AOCI (1) 230 20 — 42 (48) (153) 193 — (75) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 223 — — — — 342 — Amount of gain or (loss) recognized in AOCI $ — — — (469) — — — — (273) — The following table is the effect of net investment hedges for the fiscal third 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) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Debt $ 101 208 Interest (income) expense — — Cross Currency interest rate swaps $ 214 261 Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal nine 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) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Debt $ 35 478 Interest (income) expense — — Cross Currency interest rate swaps $ 880 1,134 Interest (income) expense — —
Schedule of Derivative Financial Instruments and Classification on Consolidated Balance Sheet	As of October 1, 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) October 1, 2023 January 1, 2023 October 1, 2023 January 1, 2023 Long-term Debt $ 8,589 8,665 (1,523) (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 third quarters ended 2023 and 2022: Gain/(Loss) Gain/(Loss) (Dollars in Millions) Location of Gain /(Loss) Recognized in Income on Derivative Fiscal Third Quarter Ended Fiscal Nine Months Ended Derivatives Not Designated as Hedging Instruments October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Foreign Exchange Contracts Other (income) expense $ — 109 2 211
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 October 1, 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 (813) 4,260 4,023 4,023 Equity Investments without readily determinable value $ 613 (24) 96 685 685 (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 October 1, 2023 and January 1, 2023 were as follows: October 1, 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 $ — 901 — 901 629 Interest rate contracts (2) — 1,534 — 1,534 1,534 Total — 2,435 — 2,435 2,163 Liabilities: Forward foreign exchange contracts — 577 — 577 511 Interest rate contracts (2) — 3,669 — 3,669 2,778 Total — 4,246 — 4,246 3,289 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 58 — 58 38 Liabilities: Forward foreign exchange contracts — 47 — 47 68 Other Investments: Equity investments (3) 4,023 — — 4,023 576 Debt securities (4) — 8,407 — 8,407 10,487 Other Liabilities Contingent consideration (5) $ — — 1,178 1,178 1,120 Gross to Net Derivative Reconciliation October 1, 2023 January 1, 2023 (Dollars in Millions) Total Gross Assets $ 2,493 2,201 Credit Support Agreement (CSA) (2,472) (2,176) Total Net Asset 21 25 Total Gross Liabilities 4,293 3,357 Credit Support Agreement (CSA) (4,174) (3,023) Total Net Liabilities $ 119 334 Summarized information about changes in liabilities for contingent consideration for the fiscal third quarters ended October 1, 2023 and October 2, 2022 is as follows: October 1, 2023 October 2, 2022 (Dollars in Millions) Beginning Balance $ 1,120 533 Changes in estimated fair value (6) 62 (85) Additions — 89 Payments (4) (12) Ending Balance $ 1,178 525 (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 $1,172 million and $1,116 million, classified as non-current other liabilities as of October 1, 2023 and January 1, 2023, respectively.
Marketable Securities	The Company's cash, cash equivalents and current marketable securities as of October 1, 2023 comprised: (Dollars in Millions) Carrying Amount Gain/(Loss) Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $ 3,214 — 3,214 3,214 — Non-U.S. sovereign securities 150 — 150 150 — U.S. reverse repurchase agreements 7,261 — 7,261 7,261 — Corporate debt securities (1) 228 — 228 78 150 Money market funds 3,503 — 3,503 3,503 — Time deposits (1) 748 — 748 748 — Subtotal 15,104 — 15,104 14,954 150 Unrealized Loss U.S. Gov’t securities 8,062 (1) 8,061 4,728 3,333 U.S. Gov’t Agencies 95 (2) 93 — 93 Other sovereign securities 6 — 6 2 4 Corporate debt securities 247 — 247 44 203 Subtotal available for sale debt (2) $ 8,410 (3) 8,407 4,774 3,633 Total cash, cash equivalents and current marketable securities $ 23,514 (3) 23,511 19,728 3,783 (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 October 1, 2023 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $ 8,400 8,397 Due after one year through five years 10 10 Due after five years through ten years — — Total debt securities $ 8,410 8,407
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 October 1, 2023: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $ 3,870 3,852 Non-Current Debt 5.50% Notes due 2024 (500MM GBP 1.2190) 609 609 2.625% Notes due 2025 750 726 0.55% Notes due 2025 947 916 2.45% Notes due 2026 1,997 1,879 2.95% Notes due 2027 882 937 0.95% Notes due 2027 1,409 1,290 2.90% Notes due 2028 1,497 1,384 1.150% Notes due 2028 (750MM Euro 1.0534) 786 705 6.95% Notes due 2029 298 337 1.30% Notes due 2030 1,604 1,377 4.95% Debentures due 2033 499 507 4.375% Notes due 2033 854 809 1.650% Notes due 2035 (1.5B Euro 1.0534) 1,568 1,282 3.55% Notes due 2036 831 852 5.95% Notes due 2037 994 1,060 3.625% Notes due 2037 1,321 1,261 3.40% Notes due 2038 993 823 5.85% Debentures due 2038 697 735 4.50% Debentures due 2040 541 502 2.10% Notes due 2040 809 639 4.85% Notes due 2041 297 282 4.50% Notes due 2043 496 450 3.70% Notes due 2046 1,977 1,555 3.75% Notes due 2047 787 788 3.50% Notes due 2048 743 564 2.25% Notes due 2050 776 573 2.45% Notes due 2060 1,025 695 Other 64 62 Total Non-Current Debt $ 26,051 23,599

Pensions and Other Benefit Pl_2

Pensions and Other Benefit Plans (Tables)	9 Months Ended
	Oct. 01, 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 Third Quarter Ended Fiscal Nine Months Ended Retirement Plans Other Benefit Plans Retirement Plans Other Benefit Plans (Dollars in Millions) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Service cost $ 210 313 61 80 638 953 198 240 Interest cost 363 226 51 26 1,090 685 160 79 Expected return on plan assets (680) (683) (1) (2) (2,042) (2,075) (4) (6) Amortization of prior service cost/(credit) (47) (46) — (1) (139) (138) (1) (4) Recognized actuarial (gains) losses (50) 163 4 30 (150) 492 17 91 Curtailments and settlements 72 — (9) — 72 1 (9) — Net periodic benefit cost/(credit) $ (132) (27) 106 133 (531) (82) 361 400

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Oct. 01, 2023
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	Components of other comprehensive income (loss) consist of the following: Foreign Currency Gain/(Loss) On Employee Benefit Gain/(Loss) On Derivatives Total Accumulated Other Comprehensive (Dollars in Millions) Translation Securities Plans & Hedges Income (Loss) January 1, 2023 $ (11,813) (27) (897) (230) (12,967) Change from continuing operations (448) 25 (175) (396) (994) Kenvue Separation 4,885 ** 0 296 * 0 5,181 Net change 4,437 25 121 (396) 4,187 October 1, 2023 (7,376) (2) (776) (626) (8,780)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 01, 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 Third Quarter Ended Fiscal Nine Months Ended (Shares in Millions) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Basic net earnings per share from continuing operations $ 1.71 1.64 3.57 5.00 Basic net earnings per share from discontinued operations 8.61 0.06 8.51 0.49 Total net earnings per share - basic 10.32 1.70 12.08 5.49 Average shares outstanding — basic 2,522.9 2,627.9 2,575.6 2,628.9 Potential shares exercisable under stock option plans 119.2 140.1 96.9 141.1 Less: shares which could be repurchased under treasury stock method (92.4) (106.7) (69.1) (102.5) Average shares outstanding — diluted 2,549.7 2,661.3 2,603.4 2,667.5 Diluted net earnings per share from continuing operations 1.69 1.62 3.53 4.93 Diluted net earnings per share from discontinuing operations 8.52 0.06 8.42 0.48 Total net earnings per share - diluted $ 10.21 1.68 11.95 5.41

Segments of Business and Geog_2

Segments of Business and Geographic Areas (Tables)	9 Months Ended
	Oct. 01, 2023
Segment Reporting [Abstract]
Sales By Segment Of Business	SALES BY SEGMENT OF BUSINESS Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, October 2, Percent October 1, October 2, Percent Change INNOVATIVE MEDICINE Immunology U.S. 3,193 2,876 11.0 8,506 8,230 3.3 International 1,656 1,411 17.4 4,951 4,587 7.9 Worldwide 4,849 4,287 13.1 13,457 12,817 5.0 REMICADE U.S. 296 350 (15.4) 849 1,099 (22.7) U.S. Exports 38 39 (2.5) 112 163 (31.3) International 127 169 (25.1) 449 606 (25.9) Worldwide 461 558 (17.4) 1,410 1,868 (24.5) SIMPONI / SIMPONI ARIA U.S. 310 298 3.9 866 886 (2.3) International 319 248 29.1 829 797 4.1 Worldwide 629 545 15.3 1,695 1,682 0.8 STELARA U.S. 1,912 1,655 15.5 5,180 4,766 8.7 International 951 794 19.9 2,925 2,571 13.8 Worldwide 2,864 2,449 16.9 8,105 7,336 10.5 TREMFYA U.S. 634 530 19.6 1,490 1,303 14.4 International 258 200 29.0 747 613 21.9 Worldwide 891 729 22.2 2,237 1,916 16.8 OTHER IMMUNOLOGY U.S. 2 5 (47.1) 9 14 (36.1) International 0 0 — 0 0 — Worldwide 2 5 (47.1) 9 14 (36.1) Infectious Diseases U.S. 360 390 (7.8) 1,147 1,266 (9.4) International 500 905 (44.8) 2,420 2,642 (8.4) Worldwide 859 1,295 (33.6) 3,566 3,908 (8.7) COVID-19 VACCINE U.S. — — — — 120 * International 41 489 (91.5) 1,073 1,370 (21.6) Worldwide 41 489 (91.5) 1,073 1,490 (27.9) EDURANT / rilpivirine U.S. 9 9 10.2 26 27 (0.5) International 287 237 21.4 816 691 18.2 Worldwide 297 245 21.0 843 718 17.5 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 345 372 (7.3) 1,105 1,096 0.9 International 102 112 (9.5) 310 354 (12.5) Worldwide 447 485 (7.8) 1,415 1,450 (2.4) OTHER INFECTIOUS DISEASES U.S. 5 10 (42.7) 15 24 (35.5) International 69 68 2.0 220 228 (3.4) Worldwide 74 77 (3.6) 235 251 (6.4) Neuroscience U.S. 1,036 919 12.7 3,043 2,658 14.5 International 706 763 (7.4) 2,296 2,498 (8.1) Worldwide 1,742 1,681 3.6 5,339 5,156 3.5 CONCERTA / methylphenidate U.S. 57 41 38.1 191 114 67.4 International 133 117 13.6 412 362 13.8 Worldwide 189 158 20.0 603 476 26.7 INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 730 684 6.8 2,164 2,036 6.3 International 299 348 (14.0) 940 1,097 (14.3) Worldwide 1,029 1,031 (0.2) 3,104 3,132 (0.9) SPRAVATO U.S. 154 88 75.1 409 223 83.1 International 29 12 * 74 32 * Worldwide 183 100 82.1 483 255 88.8 OTHER NEUROSCIENCE (1) U.S. 94 106 (11.3) 278 285 (2.3) International 245 286 (13.9) 870 1,007 (13.5) Worldwide 340 393 (13.2) 1,149 1,293 (11.0) Oncology U.S. 2,219 1,812 22.5 6,177 5,073 21.8 International 2,313 2,252 2.7 6,865 6,983 (1.7) Worldwide 4,533 4,064 11.5 13,043 12,056 8.2 CARVYKTI U.S. 140 55 * 324 79 * International 12 — * 17 — * Worldwide 152 55 * 341 79 * DARZALEX U.S. 1,369 1,097 24.8 3,882 3,071 26.4 International 1,130 955 18.3 3,312 2,823 17.3 Worldwide 2,499 2,052 21.8 7,194 5,894 22.1 ERLEADA U.S. 288 254 12.9 778 693 12.2 International 342 235 45.8 961 647 48.7 Worldwide 631 490 28.7 1,740 1,340 29.8 IMBRUVICA U.S. 264 353 (25.2) 796 1,072 (25.8) International 545 559 (2.5) 1,681 1,847 (9.0) Worldwide 808 911 (11.3) 2,476 2,918 (15.2) ZYTIGA / abiraterone acetate U.S. 16 16 (2.8) 41 54 (24.9) International 199 440 (54.9) 646 1,446 (55.3) Worldwide 214 456 (53.0) 686 1,500 (54.2) OTHER ONCOLOGY U.S. 143 37 * 357 104 * International 86 64 34.5 248 220 12.5 Worldwide 229 100 * 605 324 86.5 Pulmonary Hypertension U.S. 680 604 12.6 1,964 1,736 13.1 International 274 247 10.5 835 810 3.0 Worldwide 954 852 12.0 2,798 2,547 9.9 OPSUMIT U.S. 323 289 12.2 924 827 11.8 International 166 152 9.3 512 495 3.5 Worldwide 490 441 11.2 1,437 1,322 8.7 UPTRAVI U.S. 336 283 18.9 978 824 18.7 International 66 50 30.9 185 162 14.1 Worldwide 402 333 20.7 1,163 986 18.0 OTHER PULMONARY HYPERTENSION U.S. 20 33 (37.1) 61 86 (28.4) International 42 46 (7.5) 137 154 (10.5) Worldwide 63 78 (19.8) 199 239 (16.9) Cardiovascular / Metabolism / Other U.S. 763 837 (8.8) 2,254 2,266 (0.5) International 194 198 (2.1) 580 651 (10.8) Worldwide 957 1,034 (7.5) 2,834 2,916 (2.8) XARELTO U.S. 625 689 (9.4) 1,840 1,806 1.9 International — — — — — — Worldwide 625 689 (9.4) 1,840 1,806 1.9 OTHER (2) U.S. 139 147 (6.1) 414 459 (9.9) International 194 198 (2.1) 580 651 (10.8) Worldwide 332 345 (3.8) 994 1,110 (10.5) TOTAL INNOVATIVE MEDICINE U.S. 8,249 7,438 10.9 23,090 21,229 8.8 International 5,644 5,776 (2.3) 17,947 18,171 (1.2) Worldwide 13,893 13,214 5.1 41,037 39,400 4.2 MEDTECH Interventional Solutions U.S. 891 547 63.0 2,662 1,566 70.0 International 667 513 29.9 2,019 1,636 23.4 Worldwide 1,558 1,060 47.0 4,681 3,202 46.2 ELECTROPHYSIOLOGY U.S. 611 520 17.6 1,791 1,489 20.3 International 549 453 21.2 1,658 1,454 14.0 Worldwide 1,161 973 19.3 3,449 2,943 17.2 ABIOMED (3) U.S. 254 — * 790 — * International 57 — * 176 — * Worldwide 311 — * 966 — * OTHER INTERVENTIONAL SOLUTIONS U.S. 26 27 (3.2) 81 77 5.9 International 61 60 1.0 186 181 2.2 Worldwide 87 87 (0.3) 267 258 3.3 Orthopaedics U.S. 1,349 1,309 3.1 4,100 3,936 4.2 International 815 785 3.9 2,574 2,504 2.8 Worldwide 2,164 2,095 3.4 6,674 6,440 3.6 HIPS U.S. 239 228 4.9 730 693 5.4 International 136 124 9.3 432 437 (1.0) Worldwide 375 352 6.5 1,162 1,129 2.9 KNEES U.S. 207 203 2.3 654 620 5.6 International 131 115 14.6 415 386 7.7 Worldwide 338 317 6.7 1,069 1,005 6.4 TRAUMA U.S. 488 473 3.2 1,462 1,412 3.5 International 253 244 4.2 775 749 3.5 Worldwide 742 717 3.5 2,238 2,161 3.5 SPINE, SPORTS & OTHER U.S. 415 406 2.3 1,254 1,211 3.5 International 295 303 (2.6) 952 933 2.0 Worldwide 710 708 0.2 2,205 2,144 2.8 Surgery U.S. 994 984 1.1 2,984 2,897 3.0 International 1,483 1,439 3.1 4,522 4,410 2.6 Worldwide 2,479 2,422 2.3 7,507 7,306 2.7 ADVANCED U.S. 455 457 (0.4) 1,365 1,328 2.8 International 709 701 1.0 2,139 2,132 0.3 Worldwide 1,164 1,158 0.5 3,504 3,460 1.3 GENERAL U.S. 540 527 2.4 1,619 1,569 3.2 International 775 737 5.1 2,383 2,277 4.7 Worldwide 1,314 1,264 4.0 4,002 3,846 4.1 Vision U.S. 512 517 (1.0) 1,599 1,534 4.2 International 744 689 8.1 2,265 2,170 4.4 Worldwide 1,256 1,206 4.2 3,864 3,704 4.3 CONTACT LENSES / OTHER U.S. 399 405 (1.2) 1,252 1,179 6.2 International 529 503 4.9 1,568 1,533 2.3 Worldwide 928 908 2.2 2,820 2,712 4.0 SURGICAL U.S. 112 112 (0.1) 346 355 (2.5) International 216 186 16.6 698 637 9.6 Worldwide 328 298 10.3 1,044 992 5.3 TOTAL MEDTECH U.S. 3,747 3,356 11.6 11,345 9,932 14.2 International 3,711 3,426 8.3 11,382 10,719 6.2 Worldwide 7,458 6,782 10.0 22,727 20,651 10.0 WORLDWIDE U.S. 11,996 10,794 11.1 34,435 31,161 10.5 International 9,355 9,202 1.6 29,329 28,890 1.5 Worldwide $ 21,351 19,996 6.8 % $ 63,764 60,051 6.2 % *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 Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, October 2, Percent October 1, October 2, Percent Innovative Medicine (1) $ 4,794 4,186 14.5 % $ 14,008 12,424 12.7 % MedTech (2) 1,185 1,090 8.7 4,265 3,641 17.1 Segment earnings before provision for taxes 5,979 5,276 13.3 18,273 16,065 13.7 Less: Expense not allocated to segments (3) 762 104 8,037 546 Worldwide income before tax $ 5,217 5,172 0.9 % $ 10,236 15,519 (34.0) % (1) Innovative Medicine includes: • Intangible amortization expense of $0.7 billion in both the fiscal third quarter of 2023 and 2022. Intangible amortization expense of $2.2 billion in both the fiscal nine months of 2023 and 2022. • One-time COVID-19 Vaccine related exit costs of $0.4 billion in the fiscal third quarter of 2022 and $0.7 billion in both the fiscal nine months of 2023 and 2022. • A restructuring related charge of $0.1 billion and $0.4 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. • In the fiscal third quarter and fiscal nine months of 2023, the Company recorded an intangible asset impairment charge of approximately $0.2 billion related to market dynamics associated with a non-strategic asset (M710) acquired as part of the acquisition of Momenta Pharmaceuticals in 2020. In the fiscal nine 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 $0.4 billion and $0.2 billion in the fiscal third quarter of 2023 and 2022, respectively. Unfavorable changes in the fair value of securities of $0.5 billion and $0.7 billion in the fiscal nine months of 2023 and 2022, respectively. • Favorable litigation related items of $0.1 billion in the fiscal nine months of 2023. (2) MedTech includes: • Intangible amortization expense of $0.4 billion and $0.3 billion in the fiscal third quarter of 2023 and 2022, respectively. Intangible amortization expense of $1.1 billion and $0.8 billion in the fiscal nine months of 2023 and 2022, respectively. • Litigation expense of $0.2 billion and $0.5 billion in the fiscal third quarter and fiscal nine months of 2022. • Acquisition and integration related expense of $0.1 billion in the fiscal nine months of 2023. • A restructuring related charge of $0.2 billion in the fiscal third quarter and fiscal nine months of 2023. A restructuring related charge of $0.1 billion in the fiscal third quarter of 2022 and $0.2 billion in the fiscal nine months of 2022.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	SALES BY GEOGRAPHIC AREA Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 2, 2022 Percent October 1, 2023 October 2, 2022 Percent Change United States $ 11,996 10,794 11.1 % $ 34,435 31,161 10.5 % Europe 4,727 4,844 (2.4) 15,448 15,540 (0.6) Western Hemisphere, excluding U.S. 1,171 1,059 10.5 3,383 3,084 9.7 Asia-Pacific, Africa 3,457 3,299 4.8 10,498 10,266 2.2 Total $ 21,351 19,996 6.8 % $ 63,764 60,051 6.2 %

Legal Proceedings (Tables)

Legal Proceedings (Tables)	9 Months Ended
	Oct. 01, 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 October 1, 2023: Product or product category Number of Plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 52,220 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 930 Pelvic meshes 6,960 ETHICON PHYSIOMESH Flexible Composite Mesh 720 RISPERDAL 220 ELMIRON 2,150

Kenvue Separation (Tables)

Kenvue Separation (Tables)	9 Months Ended
	Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	Details of Net Earnings from Discontinued Operations, net of taxes are as follows: Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 (1) October 2, 2022 October 1, 2023 (1) October 2, 2022 Sales to customers $ 2,173 3,795 10,036 11,186 Cost of products sold 911 1,635 4,369 4,812 Gross profit 1,262 2,160 5,667 6,374 Selling, marketing and administrative expenses 584 1,114 3,085 3,346 Research and development expense 24 112 258 337 Interest Income (37) — (117) — Interest expense, net of portion capitalized (Note 4) 67 — 199 — Other (income) expense, net 406 267 1,018 649 Gain on separation of Kenvue (20,984) — (20,984) — Restructuring — 17 — 37 Earnings from Discontinued Operations Before Provision for Taxes on Income 21,202 650 22,208 2,005 (Benefit from)/Provision for taxes on income (Note 5) (517) 502 298 727 Net earnings from Discontinued Operations 21,719 148 21,910 1,278 (1) The Company ceased consolidating the results of the Consumer Health business on August 23, 2023, the date of the exchange offer, but continued to reflect any separation costs incurred as part of discontinued operations through the end of the fiscal third quarter. The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue: Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 2, 2022 Depreciation and Amortization 383 482 Capital expenditures 162 178 Details of assets and liabilities of discontinued operations are as follows: January 1, 2023 Assets Current assets Cash and cash equivalents $ 1,238 Accounts receivable trade, less allowances for doubtful accounts 2,121 Inventories 2,215 Prepaid expenses and other receivables 256 Total current assets of discontinued operations 5,830 Property, plant and equipment, net 1,821 Intangible assets, net 9,836 Goodwill 9,184 Deferred taxes on income 176 Other assets 390 Total noncurrent assets of discontinued operations $ 21,407 Liabilities Loans and notes payable $ 15 Accounts payable 1,814 Accrued liabilities 737 Accrued rebates, returns and promotions 838 Accrued compensation and employee related obligations 279 Accrued taxes on income (93) Total current liabilities of discontinued operations 3,590 Long-term debt 2 Deferred taxes on income 2,383 Employee related obligations 225 Other liabilities 291 Total noncurrent liabilities of discontinued operations $ 2,901

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve	The following table summarizes the restructuring expenses for 2023: (Pre-tax Dollars in Millions) Fiscal Third Quarter Ended Fiscal Nine Months Ended Innovative Medicine Segment (1) $ 149 424 MedTech Segment (2) 235 235 Total Programs $ 384 659 (1 ) Included in Restructuring on the Consolidated Statement of Earnings (2) Included $9 million in the Restructuring and $226 million in Cost of products sold on the Consolidated Statement of Earnings

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Millions			9 Months Ended
	Aug. 23, 2023	May 08, 2023 USD ($) $ / shares shares	Oct. 01, 2023 USD ($) segment $ / shares	Oct. 02, 2022 USD ($)	Jul. 02, 2023 USD ($)	Jan. 01, 2023 USD ($) $ / shares
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares			$ 1			$ 1
Proceeds from Kenvue initial public offering (Note 12)			$ 4,241	$ 0
Realized gain (loss) on investment		$ 2,500
Number of operating segments | segment			2
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2022-04 [Member]
Supplier finance program, obligation			$ 500			$ 700
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.01
Sales price per share (in usd per share) | $ / shares		$ 22
Kenvue Inc. | IPO
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares issued in transaction (in shares) | shares		198,734,444
Proceeds from Kenvue initial public offering (Note 12)		$ 4,200
Kenvue Inc. | Johnson & Johnson
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage ownership after transaction		89.60%
Common stock, value					$ 1,300
Percentage ownership after transaction	9.50%
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Split-off percentage	80.10%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 2,233	$ 1,719
Goods in process	1,961	1,577
Finished goods	7,004	6,972
Total inventories	$ 11,198	$ 10,268

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	$ 11,104	$ 11,316
Total intangible assets — net	35,021	38,489
Trademarks
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	1,640	1,630
Purchased In-Process Research And Development
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	9,464	9,686
Patents And Trademarks
Intangible assets with definite lives:
Finite-Lived Intangible Assets, Gross	39,284	39,388
Less accumulated amortization	(23,052)	(20,616)
Finite-Lived Intangible Assets, Net	16,232	18,772
Customer relationships and other intangible assets
Intangible assets with definite lives:
Finite-Lived Intangible Assets, Gross	19,844	19,764
Less accumulated amortization	(12,159)	(11,363)
Finite-Lived Intangible Assets, Net	$ 7,685	$ 8,401

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Goodwill By Segment (Details) $ in Millions	9 Months Ended
	Oct. 01, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill Beginning of Period	$ 36,047
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	77
Goodwill End of Period	36,124
INNOVATIVE MEDICINE
Goodwill [Roll Forward]
Goodwill Beginning of Period	10,184
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	(35)
Goodwill End of Period	10,149
MedTech
Goodwill [Roll Forward]
Goodwill Beginning of Period	25,863
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	112
Goodwill End of Period	$ 25,975

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 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	$ 1,100	$ 1,000	$ 3,400	$ 3,000
Patents And Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life	11 years		11 years
Customer relationships and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Weighted-Average Useful Life	18 years		18 years

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Intangible Asset Amortization Expense (Details) $ in Millions	Oct. 01, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 4,500
2024	4,300
2025	3,500
2026	2,900
2027	$ 2,300

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Apr. 02, 2023	Oct. 01, 2023	Jan. 01, 2023
Derivative [Line Items]
Accumulated other comprehensive income on derivatives, after tax		$ 626
Hedging exposure		18 months
Weighted average interest rate on non-current debt		3.08%
Current Debt		$ 3,870	$ 12,756
Excess Of Carrying Value Over Fair Value Of Debt	$ 1,600
Commercial Paper
Derivative [Line Items]
Current Debt		$ 2,000
Weighted average interest rate		5.31%
Term		2 months
Forward foreign exchange contracts
Derivative [Line Items]
Collateral already posted, aggregate fair value		$ 1,700
Derivative, notional amount		42,900	41,500
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	$ 10,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Derivative Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 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 | 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 | 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	(61)	(322)	(1,165)	(1,094)
Amount of gain or (loss) recognized in AOCI	61	322	1,165	1,094
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 | 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 | 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			98	102
Amount of gain or (loss) recognized in AOCI			98	102
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
Net Investment Hedging | Net Investment Hedging | 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 | Net Investment Hedging | 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 | Net Investment Hedging | 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 | Net Investment Hedging | 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	31	13
Amount of gain or (loss) recognized in AOCI	31	13
Net Investment Hedging | Net Investment Hedging | 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
Cash Flow Hedging | Forward foreign exchange contracts | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	(11)	(45)	(1)	(48)
Amount of gain or (loss) reclassified from AOCI into income	6	(20)	3	(54)
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	(166)	(94)	230	(153)
Amount of gain or (loss) reclassified from AOCI into income	102	(83)	12	(141)
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	49	91	20	193
Amount of gain or (loss) reclassified from AOCI into income	(5)	53	(30)	118
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 | Forward foreign exchange contracts | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	38	36	42	(75)
Amount of gain or (loss) reclassified from AOCI into income	4	22	9	(35)
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 | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	(454)	(205)	(469)	(273)
Amount of gain or (loss) reclassified from AOCI into income	41	120	223	342
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

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives, Balance Sheet Location (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Derivative [Line Items]
Carrying Amount of the Hedged Liability	$ 4,293	$ 3,357
Long-term Debt | Designated as Hedging Instrument
Derivative [Line Items]
Carrying Amount of the Hedged Liability	8,589	8,665
Cumulative Amount of Fair Value Hedging Gain/ (Loss) Included in the Carrying Amount of the Hedged Liability	$ (1,523)	$ (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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Not Designated as Hedging Instrument | Forward foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Income on Derivative	$ 0	$ 109	$ 2	$ 211

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Effect of Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	$ 101	$ 208	$ 35	$ 478
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	214	261	880	1,134
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		9 Months Ended
	Aug. 23, 2023	Oct. 01, 2023	Jan. 01, 2023
Equity Investment [Roll Forward]
Non Current Other Assets		$ 13,133	$ 9,212
Gain on shares outstanding		(600)
Kenvue Inc. | Johnson & Johnson
Equity Investment [Roll Forward]
Percentage ownership after transaction	9.50%
Equity Securities | Equity Investments with readily determinable value*
Equity Investment [Roll Forward]
Carrying value, beginning of period		576
Equity, Fair Value Adjustment		(813)
Sales/ Purchases/Other		4,260
Carrying value, end of period		4,023
Non Current Other Assets		4,023
Equity Securities | Equity Investments without readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period		613
Equity, Fair Value Adjustment		(24)
Sales/ Purchases/Other		96
Carrying value, end of period		685
Non Current Other Assets		$ 685

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	$ 2,435
Derivatives designated as hedging instruments : Liabilities	4,246
Available-for-sale Securities, Equity Securities	4,023		$ 576
Available-for-sale Securities	8,407		10,487
Contingent consideration	1,178		1,120
Total Gross Assets	2,493		2,201
Credit Support Agreement (CSA)	(2,472)		(2,176)
Total Net Asset	21		25
Total Gross Liabilities	4,293		3,357
Credit Support Agreement (CSA)	(4,174)		(3,023)
Total Net Liabilities	119		334
Beginning Balance	1,120	$ 533
Changes in estimated fair value (6)	62	(85)
Additions	0	89
Payments	(4)	(12)
Ending Balance	1,178	$ 525
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	4,023		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	2,435		2,163
Derivatives designated as hedging instruments : Liabilities	4,246		3,289
Available-for-sale Securities, Equity Securities	0
Available-for-sale Securities	8,407
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	1,178		1,120
Interest Rate Contract
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	1,534
Derivatives designated as hedging instruments : Liabilities	3,669
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	1,534		1,534
Derivatives designated as hedging instruments : Liabilities	3,669		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	901
Derivatives designated as hedging instruments : Liabilities	577
Derivatives not designated as hedging instruments : Assets	58
Derivatives not designated as hedging instruments : Liabilities	47
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	901		629
Derivatives designated as hedging instruments : Liabilities	577		511
Derivatives not designated as hedging instruments : Assets	58		38
Derivatives not designated as hedging instruments : Liabilities	47		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	$ 1,172		$ 1,116

Fair Value Measurements - Cash,

Fair Value Measurements - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Estimated Fair Value	$ 8,407	$ 10,487
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	19,728	12,889
Marketable securities	3,783	$ 9,392
Total cash, cash equivalents and current marketable securities, Carrying Amount	23,514
Total cash, cash equivalents and current marketable securities, Unrecognized Loss	(3)
Total cash, cash equivalents and current marketable securities, Estimated Fair Value	23,511
Held-to-maturity Securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	15,104
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	15,104
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	14,954
Marketable securities	150
Held-to-maturity Securities | Cash
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,214
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	3,214
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,214
Marketable securities	0
Held-to-maturity Securities | Non-U.S. sovereign securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	150
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	150
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	150
Marketable securities	0
Held-to-maturity Securities | U.S. reverse repurchase agreements
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	7,261
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	7,261
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	7,261
Marketable securities	0
Held-to-maturity Securities | Corporate debt securities(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	228
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	228
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	78
Marketable securities	150
Held-to-maturity Securities | Money market funds
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,503
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	3,503
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,503
Marketable securities	0
Held-to-maturity Securities | Time deposits(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	748
Held-to-maturity Securities, Unrecognized Loss	0
Held-to-maturity Securities - Estimated Fair Value	748
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	748
Marketable securities	0
Available-for-sale Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	8,410
Available-for-sale Securities, Unrecognized Loss	(3)
Available-for-sale Securities - Estimated Fair Value	8,407
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	4,774
Marketable securities	3,633
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	8,062
Available-for-sale Securities, Unrecognized Loss	(1)
Available-for-sale Securities - Estimated Fair Value	8,061
Available-for-sale Securities | US Government Agencies Debt Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	95
Available-for-sale Securities, Unrecognized Loss	(2)
Available-for-sale Securities - Estimated Fair Value	93
Available-for-sale Securities | Non-U.S. sovereign securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	6
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	6
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	247
Available-for-sale Securities, Unrecognized Loss	0
Available-for-sale Securities - Estimated Fair Value	247
Available-for-sale Securities | Non-U.S. sovereign securities
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	2
Marketable securities	4
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	44
Marketable securities	203
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	4,728
Marketable securities	3,333
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	$ 93

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Available for Sale Securities Maturities (Details) $ in Millions	Oct. 01, 2023 USD ($)
Cost Basis
Due within one year	$ 8,400
Due after one year through five years	10
Due after five years through ten years	0
Total debt securities	8,410
Fair Value
Due within one year	8,397
Due after one year through five years	10
Due after five years through ten years	0
Total debt securities	$ 8,407

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Liabilities not Measured at Fair Value (Details)	Oct. 01, 2023 USD ($)	Oct. 01, 2023 GBP (£)	Oct. 01, 2023 EUR (€)	Jan. 01, 2023 USD ($)
Financial Liabilities
Current Debt	$ 3,870,000,000			$ 12,756,000,000
Non-Current Debt
Non-Current Debt	26,051,000,000			$ 26,886,000,000
Carrying Amount
Financial Liabilities
Current Debt	3,870,000,000
Non-Current Debt
Non-Current Debt	26,051,000,000
Estimated Fair Value
Financial Liabilities
Current Debt	3,852,000,000
Non-Current Debt
Non-Current Debt	$ 23,599,000,000
5.50% Notes due 2024 (500MM GBP 1.2190)
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	1.2190	1.2190	1.2190
5.50% Notes due 2024 (500MM GBP 1.2190) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 609,000,000
5.50% Notes due 2024 (500MM GBP 1.2190) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 609,000,000
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	$ 750,000,000
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	$ 947,000,000
0.55% Notes due 2025 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 916,000,000
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	$ 1,879,000,000
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	$ 882,000,000
2.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 937,000,000
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	$ 1,409,000,000
0.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,290,000,000
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	$ 1,384,000,000
1.150% Notes due 2028 (750MM Euro 1.0534)
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	1.0534	1.0534	1.0534
1.150% Notes due 2028 (750MM Euro 1.0534) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 786,000,000
1.150% Notes due 2028 (750MM Euro 1.0534) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 705,000,000
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	$ 337,000,000
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	$ 1,604,000,000
1.30% Notes due 2030 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,377,000,000
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	$ 499,000,000
4.95% Debentures due 2033 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 507,000,000
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	809,000,000
1.650% Notes due 2035 (1.5B Euro 1.0534) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,568,000,000
Stated interest rate (as a percent)	1.65%	1.65%	1.65%
Debt instrument, face amount	$ 1,500,000,000
Foreign exchange rate	1.0534	1.0534	1.0534
1.650% Notes due 2035 (1.5B Euro 1.0534) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,282,000,000
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	$ 831,000,000
3.55% Notes due 2036 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 852,000,000
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	$ 994,000,000
5.95% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,060,000,000
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	$ 1,321,000,000
3.625% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,261,000,000
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	$ 993,000,000
3.40% Notes due 2038 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 823,000,000
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	$ 735,000,000
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	$ 502,000,000
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	$ 809,000,000
2.10% Notes due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 639,000,000
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	$ 282,000,000
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	$ 450,000,000
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	$ 1,555,000,000
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	$ 787,000,000
3.75% Notes due 2047 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 788,000,000
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	$ 564,000,000
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	$ 776,000,000
2.25% Notes due 2050 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 573,000,000
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	$ 1,025,000,000
2.45% Notes due 2060 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	695,000,000
Other | Carrying Amount
Non-Current Debt
Non-Current Debt	64,000,000
Other | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 62,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Oct. 01, 2023	Jul. 02, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Income Tax Contingency
Worldwide effective income tax rate (as a percent)				10.20%	15.30%
Provision for taxes on income (Note 5)	$ (908)		$ (862)	$ (1,042)	$ (2,376)
Unrecognized tax benefits	2,300			2,300
Internal Revenue Service (IRS)
Income Tax Contingency
Unrecognized Tax Benefit Liability, Payment		$ 1,400
Accrued Taxes On Income
Income Tax Contingency
Unrecognized tax benefits	$ 500			500
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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Retirement Plans
Components of net periodic benefit cost
Service cost	$ 210	$ 313	$ 638	$ 953
Interest cost	363	226	1,090	685
Expected return on plan assets	(680)	(683)	(2,042)	(2,075)
Amortization of prior service cost/(credit)	(47)	(46)	(139)	(138)
Recognized actuarial (gains) losses	(50)	163	(150)	492
Curtailments and settlements	72	0	72	1
Net periodic benefit cost/(credit)	(132)	(27)	(531)	(82)
Other Benefit Plans
Components of net periodic benefit cost
Service cost	61	80	198	240
Interest cost	51	26	160	79
Expected return on plan assets	(1)	(2)	(4)	(6)
Amortization of prior service cost/(credit)	0	(1)	(1)	(4)
Recognized actuarial (gains) losses	4	30	17	91
Curtailments and settlements	(9)	0	(9)	0
Net periodic benefit cost/(credit)	$ 106	$ 133	$ 361	$ 400

Pensions and Other Benefit Pl_4

Pensions and Other Benefit Plans (Details) $ in Millions	9 Months Ended
	Oct. 01, 2023 USD ($)
Consumer Health
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Pension Plan	$ 100
U.S.
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	92
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 18

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 76,409	$ 76,357	$ 76,804	$ 74,023
Change from continuing operations	(278)	(1,449)	(994)	(2,234)
Net change			4,187
Ending balance	71,228	74,599	71,228	74,599
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(11,813)
Change from continuing operations			(448)
Kenvue Separation/ IPO			4,885
Net change			4,437
Ending balance	(7,376)		(7,376)
Accumulated Net Investment Gain (Loss) Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(27)
Change from continuing operations			25
Kenvue Separation/ IPO			0
Net change			25
Ending balance	(2)		(2)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(897)
Change from continuing operations			(175)
Kenvue Separation/ IPO			296
Net change			121
Ending balance	(776)		(776)
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)
Change from continuing operations			(396)
Kenvue Separation/ IPO			0
Net change			(396)
Ending balance	(626)		(626)
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(13,135)	(13,843)	(12,967)	(13,058)
Change from continuing operations	(278)	(1,449)	(994)	(2,234)
Kenvue Separation/ IPO			5,181
Ending balance	$ (8,780)	$ (15,292)	(8,780)	$ (15,292)
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Kenvue Separation/ IPO			$ 548

Earnings Per Share (Details)

Earnings Per Share (Details) - $ / shares shares in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Reconciliation of basic net earnings per share to diluted net earnings per share
Continuing operations - basic (in dollars per share)	$ 1.71	$ 1.64	$ 3.57	$ 5
Discontinued operations - basic (in dollars per share)	8.61	0.06	8.51	0.49
Total net earnings per share - basic (in dollars per share)	$ 10.32	$ 1.70	$ 12.08	$ 5.49
Average shares outstanding — basic	2,522.9	2,627.9	2,575.6	2,628.9
Potential shares exercisable under stock option plans	119.2	140.1	96.9	141.1
Less: shares which could be repurchased under treasury stock method	(92.4)	(106.7)	(69.1)	(102.5)
Average shares outstanding — diluted	2,549.7	2,661.3	2,603.4	2,667.5
Continuing operations - diluted (in dollars per share)	$ 1.69	$ 1.62	$ 3.53	$ 4.93
Discontinued operations - diluted (in dollars per share)	8.52	0.06	8.42	0.48
Total net earnings per share - diluted (in dollars per share)	$ 10.21	$ 1.68	$ 11.95	$ 5.41
Antidilutive securities excluded from computation of earnings per share, amount	16.4		42.9

Segments of Business and Geog_3

Segments of Business and Geographic Areas - Sales By Segment Of Business (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Sales by segment of business
Sales to customers	$ 21,351	$ 19,996	$ 63,764	$ 60,051
Percent Change (as a percent)	6.80%		6.20%
U.S.
Sales by segment of business
Sales to customers	$ 11,996	10,794	$ 34,435	31,161
Percent Change (as a percent)	11.10%		10.50%
International
Sales by segment of business
Sales to customers	$ 9,355	9,202	$ 29,329	28,890
Percent Change (as a percent)	1.60%		1.50%
MEDTECH
Sales by segment of business
Sales to customers	$ 7,458	6,782	$ 22,727	20,651
Percent Change (as a percent)	10%		10%
MEDTECH | U.S.
Sales by segment of business
Sales to customers	$ 3,747	3,356	$ 11,345	9,932
Percent Change (as a percent)	11.60%		14.20%
MEDTECH | International
Sales by segment of business
Sales to customers	$ 3,711	3,426	$ 11,382	10,719
Percent Change (as a percent)	8.30%		6.20%
MEDTECH | Interventional Solutions
Sales by segment of business
Sales to customers	$ 1,558	1,060	$ 4,681	3,202
Percent Change (as a percent)	47%		46.20%
MEDTECH | Interventional Solutions | U.S.
Sales by segment of business
Sales to customers	$ 891	547	$ 2,662	1,566
Percent Change (as a percent)	63%		70%
MEDTECH | Interventional Solutions | International
Sales by segment of business
Sales to customers	$ 667	513	$ 2,019	1,636
Percent Change (as a percent)	29.90%		23.40%
MEDTECH | ELECTROPHYSIOLOGY
Sales by segment of business
Sales to customers	$ 1,161	973	$ 3,449	2,943
Percent Change (as a percent)	19.30%		17.20%
MEDTECH | ELECTROPHYSIOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 611	520	$ 1,791	1,489
Percent Change (as a percent)	17.60%		20.30%
MEDTECH | ELECTROPHYSIOLOGY | International
Sales by segment of business
Sales to customers	$ 549	453	$ 1,658	1,454
Percent Change (as a percent)	21.20%		14%
MEDTECH | ABIOMED(3)
Sales by segment of business
Sales to customers	$ 311	0	$ 966	0
MEDTECH | ABIOMED(3) | U.S.
Sales by segment of business
Sales to customers	254	0	790	0
MEDTECH | ABIOMED(3) | International
Sales by segment of business
Sales to customers	57	0	176	0
MEDTECH | OTHER INTERVENTIONAL SOLUTIONS
Sales by segment of business
Sales to customers	$ 87	87	$ 267	258
Percent Change (as a percent)	(0.30%)		3.30%
MEDTECH | OTHER INTERVENTIONAL SOLUTIONS | U.S.
Sales by segment of business
Sales to customers	$ 26	27	$ 81	77
Percent Change (as a percent)	(3.20%)		5.90%
MEDTECH | OTHER INTERVENTIONAL SOLUTIONS | International
Sales by segment of business
Sales to customers	$ 61	60	$ 186	181
Percent Change (as a percent)	1%		2.20%
MEDTECH | Orthopaedics
Sales by segment of business
Sales to customers	$ 2,164	2,095	$ 6,674	6,440
Percent Change (as a percent)	3.40%		3.60%
MEDTECH | Orthopaedics | U.S.
Sales by segment of business
Sales to customers	$ 1,349	1,309	$ 4,100	3,936
Percent Change (as a percent)	3.10%		4.20%
MEDTECH | Orthopaedics | International
Sales by segment of business
Sales to customers	$ 815	785	$ 2,574	2,504
Percent Change (as a percent)	3.90%		2.80%
MEDTECH | Orthopaedics | HIPS
Sales by segment of business
Sales to customers	$ 375	352	$ 1,162	1,129
Percent Change (as a percent)	6.50%		2.90%
MEDTECH | Orthopaedics | HIPS | U.S.
Sales by segment of business
Sales to customers	$ 239	228	$ 730	693
Percent Change (as a percent)	4.90%		5.40%
MEDTECH | Orthopaedics | HIPS | International
Sales by segment of business
Sales to customers	$ 136	124	$ 432	437
Percent Change (as a percent)	9.30%		(1.00%)
MEDTECH | Orthopaedics | KNEES
Sales by segment of business
Sales to customers	$ 338	317	$ 1,069	1,005
Percent Change (as a percent)	6.70%		6.40%
MEDTECH | Orthopaedics | KNEES | U.S.
Sales by segment of business
Sales to customers	$ 207	203	$ 654	620
Percent Change (as a percent)	2.30%		5.60%
MEDTECH | Orthopaedics | KNEES | International
Sales by segment of business
Sales to customers	$ 131	115	$ 415	386
Percent Change (as a percent)	14.60%		7.70%
MEDTECH | Orthopaedics | TRAUMA
Sales by segment of business
Sales to customers	$ 742	717	$ 2,238	2,161
Percent Change (as a percent)	3.50%		3.50%
MEDTECH | Orthopaedics | TRAUMA | U.S.
Sales by segment of business
Sales to customers	$ 488	473	$ 1,462	1,412
Percent Change (as a percent)	3.20%		3.50%
MEDTECH | Orthopaedics | TRAUMA | International
Sales by segment of business
Sales to customers	$ 253	244	$ 775	749
Percent Change (as a percent)	4.20%		3.50%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER
Sales by segment of business
Sales to customers	$ 710	708	$ 2,205	2,144
Percent Change (as a percent)	0.20%		2.80%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | U.S.
Sales by segment of business
Sales to customers	$ 415	406	$ 1,254	1,211
Percent Change (as a percent)	2.30%		3.50%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | International
Sales by segment of business
Sales to customers	$ 295	303	$ 952	933
Percent Change (as a percent)	(2.60%)		2%
MEDTECH | Surgery
Sales by segment of business
Sales to customers	$ 2,479	2,422	$ 7,507	7,306
Percent Change (as a percent)	2.30%		2.70%
MEDTECH | Surgery | U.S.
Sales by segment of business
Sales to customers	$ 994	984	$ 2,984	2,897
Percent Change (as a percent)	1.10%		3%
MEDTECH | Surgery | International
Sales by segment of business
Sales to customers	$ 1,483	1,439	$ 4,522	4,410
Percent Change (as a percent)	3.10%		2.60%
MEDTECH | Surgery | ADVANCED
Sales by segment of business
Sales to customers	$ 1,164	1,158	$ 3,504	3,460
Percent Change (as a percent)	0.50%		1.30%
MEDTECH | Surgery | ADVANCED | U.S.
Sales by segment of business
Sales to customers	$ 455	457	$ 1,365	1,328
Percent Change (as a percent)	(0.40%)		2.80%
MEDTECH | Surgery | ADVANCED | International
Sales by segment of business
Sales to customers	$ 709	701	$ 2,139	2,132
Percent Change (as a percent)	1%		0.30%
MEDTECH | Surgery | GENERAL
Sales by segment of business
Sales to customers	$ 1,314	1,264	$ 4,002	3,846
Percent Change (as a percent)	4%		4.10%
MEDTECH | Surgery | GENERAL | U.S.
Sales by segment of business
Sales to customers	$ 540	527	$ 1,619	1,569
Percent Change (as a percent)	2.40%		3.20%
MEDTECH | Surgery | GENERAL | International
Sales by segment of business
Sales to customers	$ 775	737	$ 2,383	2,277
Percent Change (as a percent)	5.10%		4.70%
MEDTECH | Vision
Sales by segment of business
Sales to customers	$ 1,256	1,206	$ 3,864	3,704
Percent Change (as a percent)	4.20%		4.30%
MEDTECH | Vision | U.S.
Sales by segment of business
Sales to customers	$ 512	517	$ 1,599	1,534
Percent Change (as a percent)	(1.00%)		4.20%
MEDTECH | Vision | International
Sales by segment of business
Sales to customers	$ 744	689	$ 2,265	2,170
Percent Change (as a percent)	8.10%		4.40%
MEDTECH | Vision | CONTACT LENSES / OTHER
Sales by segment of business
Sales to customers	$ 928	908	$ 2,820	2,712
Percent Change (as a percent)	2.20%		4%
MEDTECH | Vision | CONTACT LENSES / OTHER | U.S.
Sales by segment of business
Sales to customers	$ 399	405	$ 1,252	1,179
Percent Change (as a percent)	(1.20%)		6.20%
MEDTECH | Vision | CONTACT LENSES / OTHER | International
Sales by segment of business
Sales to customers	$ 529	503	$ 1,568	1,533
Percent Change (as a percent)	4.90%		2.30%
MEDTECH | Vision | SURGICAL
Sales by segment of business
Sales to customers	$ 328	298	$ 1,044	992
Percent Change (as a percent)	10.30%		5.30%
MEDTECH | Vision | SURGICAL | U.S.
Sales by segment of business
Sales to customers	$ 112	112	$ 346	355
Percent Change (as a percent)	(0.10%)		(2.50%)
MEDTECH | Vision | SURGICAL | International
Sales by segment of business
Sales to customers	$ 216	186	$ 698	637
Percent Change (as a percent)	16.60%		9.60%
Innovative Medicine
Sales by segment of business
Sales to customers	$ 13,893	13,214	$ 41,037	39,400
Percent Change (as a percent)	5.10%		4.20%
Innovative Medicine | U.S.
Sales by segment of business
Sales to customers	$ 8,249	7,438	$ 23,090	21,229
Percent Change (as a percent)	10.90%		8.80%
Innovative Medicine | International
Sales by segment of business
Sales to customers	$ 5,644	5,776	$ 17,947	18,171
Percent Change (as a percent)	(2.30%)		(1.20%)
Innovative Medicine | Immunology
Sales by segment of business
Sales to customers	$ 4,849	4,287	$ 13,457	12,817
Percent Change (as a percent)	13.10%		5%
Innovative Medicine | Immunology | U.S.
Sales by segment of business
Sales to customers	$ 3,193	2,876	$ 8,506	8,230
Percent Change (as a percent)	11%		3.30%
Innovative Medicine | Immunology | International
Sales by segment of business
Sales to customers	$ 1,656	1,411	$ 4,951	4,587
Percent Change (as a percent)	17.40%		7.90%
Innovative Medicine | Immunology | REMICADE
Sales by segment of business
Sales to customers	$ 461	558	$ 1,410	1,868
Percent Change (as a percent)	(17.40%)		(24.50%)
Innovative Medicine | Immunology | REMICADE | U.S.
Sales by segment of business
Sales to customers	$ 296	350	$ 849	1,099
Percent Change (as a percent)	(15.40%)		(22.70%)
Innovative Medicine | Immunology | REMICADE | U.S. Exports
Sales by segment of business
Sales to customers	$ 38	39	$ 112	163
Percent Change (as a percent)	(2.50%)		(31.30%)
Innovative Medicine | Immunology | REMICADE | International
Sales by segment of business
Sales to customers	$ 127	169	$ 449	606
Percent Change (as a percent)	(25.10%)		(25.90%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA
Sales by segment of business
Sales to customers	$ 629	545	$ 1,695	1,682
Percent Change (as a percent)	15.30%		0.80%
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA | U.S.
Sales by segment of business
Sales to customers	$ 310	298	$ 866	886
Percent Change (as a percent)	3.90%		(2.30%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA | International
Sales by segment of business
Sales to customers	$ 319	248	$ 829	797
Percent Change (as a percent)	29.10%		4.10%
Innovative Medicine | Immunology | STELARA
Sales by segment of business
Sales to customers	$ 2,864	2,449	$ 8,105	7,336
Percent Change (as a percent)	16.90%		10.50%
Innovative Medicine | Immunology | STELARA | U.S.
Sales by segment of business
Sales to customers	$ 1,912	1,655	$ 5,180	4,766
Percent Change (as a percent)	15.50%		8.70%
Innovative Medicine | Immunology | STELARA | International
Sales by segment of business
Sales to customers	$ 951	794	$ 2,925	2,571
Percent Change (as a percent)	19.90%		13.80%
Innovative Medicine | Immunology | TREMFYA
Sales by segment of business
Sales to customers	$ 891	729	$ 2,237	1,916
Percent Change (as a percent)	22.20%		16.80%
Innovative Medicine | Immunology | TREMFYA | U.S.
Sales by segment of business
Sales to customers	$ 634	530	$ 1,490	1,303
Percent Change (as a percent)	19.60%		14.40%
Innovative Medicine | Immunology | TREMFYA | International
Sales by segment of business
Sales to customers	$ 258	200	$ 747	613
Percent Change (as a percent)	29%		21.90%
Innovative Medicine | Immunology | OTHER IMMUNOLOGY
Sales by segment of business
Sales to customers	$ 2	5	$ 9	14
Percent Change (as a percent)	(47.10%)		(36.10%)
Innovative Medicine | Immunology | OTHER IMMUNOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 2	5	$ 9	14
Percent Change (as a percent)	(47.10%)		(36.10%)
Innovative Medicine | Immunology | OTHER IMMUNOLOGY | International
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0%		0%
Innovative Medicine | Infectious Diseases
Sales by segment of business
Sales to customers	$ 859	1,295	$ 3,566	3,908
Percent Change (as a percent)	(33.60%)		(8.70%)
Innovative Medicine | Infectious Diseases | U.S.
Sales by segment of business
Sales to customers	$ 360	390	$ 1,147	1,266
Percent Change (as a percent)	(7.80%)		(9.40%)
Innovative Medicine | Infectious Diseases | International
Sales by segment of business
Sales to customers	$ 500	905	$ 2,420	2,642
Percent Change (as a percent)	(44.80%)		(8.40%)
Innovative Medicine | Infectious Diseases | COVID-19
Sales by segment of business
Sales to customers	$ 41	489	$ 1,073	1,490
Percent Change (as a percent)	(91.50%)		(27.90%)
Innovative Medicine | Infectious Diseases | COVID-19 | U.S.
Sales by segment of business
Sales to customers	$ 0	0	$ 0	120
Innovative Medicine | Infectious Diseases | COVID-19 | International
Sales by segment of business
Sales to customers	$ 41	489	$ 1,073	1,370
Percent Change (as a percent)	(91.50%)		(21.60%)
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine
Sales by segment of business
Sales to customers	$ 297	245	$ 843	718
Percent Change (as a percent)	21%		17.50%
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine | U.S.
Sales by segment of business
Sales to customers	$ 9	9	$ 26	27
Percent Change (as a percent)	10.20%		(0.50%)
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine | International
Sales by segment of business
Sales to customers	$ 287	237	$ 816	691
Percent Change (as a percent)	21.40%		18.20%
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
Sales by segment of business
Sales to customers	$ 447	485	$ 1,415	1,450
Percent Change (as a percent)	(7.80%)		(2.40%)
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | U.S.
Sales by segment of business
Sales to customers	$ 345	372	$ 1,105	1,096
Percent Change (as a percent)	(7.30%)		0.90%
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | International
Sales by segment of business
Sales to customers	$ 102	112	$ 310	354
Percent Change (as a percent)	(9.50%)		(12.50%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES(
Sales by segment of business
Sales to customers	$ 74	77	$ 235	251
Percent Change (as a percent)	(3.60%)		(6.40%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES( | U.S.
Sales by segment of business
Sales to customers	$ 5	10	$ 15	24
Percent Change (as a percent)	(42.70%)		(35.50%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES( | International
Sales by segment of business
Sales to customers	$ 69	68	$ 220	228
Percent Change (as a percent)	2%		(3.40%)
Innovative Medicine | Neuroscience
Sales by segment of business
Sales to customers	$ 1,742	1,681	$ 5,339	5,156
Percent Change (as a percent)	3.60%		3.50%
Innovative Medicine | Neuroscience | U.S.
Sales by segment of business
Sales to customers	$ 1,036	919	$ 3,043	2,658
Percent Change (as a percent)	12.70%		14.50%
Innovative Medicine | Neuroscience | International
Sales by segment of business
Sales to customers	$ 706	763	$ 2,296	2,498
Percent Change (as a percent)	(7.40%)		(8.10%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate
Sales by segment of business
Sales to customers	$ 189	158	$ 603	476
Percent Change (as a percent)	20%		26.70%
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate | U.S.
Sales by segment of business
Sales to customers	$ 57	41	$ 191	114
Percent Change (as a percent)	38.10%		67.40%
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate | International
Sales by segment of business
Sales to customers	$ 133	117	$ 412	362
Percent Change (as a percent)	13.60%		13.80%
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
Sales by segment of business
Sales to customers	$ 1,029	1,031	$ 3,104	3,132
Percent Change (as a percent)	(0.20%)		(0.90%)
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | U.S.
Sales by segment of business
Sales to customers	$ 730	684	$ 2,164	2,036
Percent Change (as a percent)	6.80%		6.30%
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | International
Sales by segment of business
Sales to customers	$ 299	348	$ 940	1,097
Percent Change (as a percent)	(14.00%)		(14.30%)
Innovative Medicine | Neuroscience | SPRAVATO
Sales by segment of business
Sales to customers	$ 183	100	$ 483	255
Percent Change (as a percent)	82.10%		88.80%
Innovative Medicine | Neuroscience | SPRAVATO | U.S.
Sales by segment of business
Sales to customers	$ 154	88	$ 409	223
Percent Change (as a percent)	75.10%		83.10%
Innovative Medicine | Neuroscience | SPRAVATO | International
Sales by segment of business
Sales to customers	$ 29	12	$ 74	32
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE
Sales by segment of business
Sales to customers	$ 340	393	$ 1,149	1,293
Percent Change (as a percent)	(13.20%)		(11.00%)
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE | U.S.
Sales by segment of business
Sales to customers	$ 94	106	$ 278	285
Percent Change (as a percent)	(11.30%)		(2.30%)
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE | International
Sales by segment of business
Sales to customers	$ 245	286	$ 870	1,007
Percent Change (as a percent)	(13.90%)		(13.50%)
Innovative Medicine | Oncology
Sales by segment of business
Sales to customers	$ 4,533	4,064	$ 13,043	12,056
Percent Change (as a percent)	11.50%		8.20%
Innovative Medicine | Oncology | U.S.
Sales by segment of business
Sales to customers	$ 2,219	1,812	$ 6,177	5,073
Percent Change (as a percent)	22.50%		21.80%
Innovative Medicine | Oncology | International
Sales by segment of business
Sales to customers	$ 2,313	2,252	$ 6,865	6,983
Percent Change (as a percent)	2.70%		(1.70%)
Innovative Medicine | Oncology | CARVYKTI
Sales by segment of business
Sales to customers	$ 152	55	$ 341	79
Innovative Medicine | Oncology | CARVYKTI | U.S.
Sales by segment of business
Sales to customers	140	55	324	79
Innovative Medicine | Oncology | CARVYKTI | International
Sales by segment of business
Sales to customers	12	0	17	0
Innovative Medicine | Oncology | DARZALEX
Sales by segment of business
Sales to customers	$ 2,499	2,052	$ 7,194	5,894
Percent Change (as a percent)	21.80%		22.10%
Innovative Medicine | Oncology | DARZALEX | U.S.
Sales by segment of business
Sales to customers	$ 1,369	1,097	$ 3,882	3,071
Percent Change (as a percent)	24.80%		26.40%
Innovative Medicine | Oncology | DARZALEX | International
Sales by segment of business
Sales to customers	$ 1,130	955	$ 3,312	2,823
Percent Change (as a percent)	18.30%		17.30%
Innovative Medicine | Oncology | ERLEADA
Sales by segment of business
Sales to customers	$ 631	490	$ 1,740	1,340
Percent Change (as a percent)	28.70%		29.80%
Innovative Medicine | Oncology | ERLEADA | U.S.
Sales by segment of business
Sales to customers	$ 288	254	$ 778	693
Percent Change (as a percent)	12.90%		12.20%
Innovative Medicine | Oncology | ERLEADA | International
Sales by segment of business
Sales to customers	$ 342	235	$ 961	647
Percent Change (as a percent)	45.80%		48.70%
Innovative Medicine | Oncology | IMBRUVICA
Sales by segment of business
Sales to customers	$ 808	911	$ 2,476	2,918
Percent Change (as a percent)	(11.30%)		(15.20%)
Innovative Medicine | Oncology | IMBRUVICA | U.S.
Sales by segment of business
Sales to customers	$ 264	353	$ 796	1,072
Percent Change (as a percent)	(25.20%)		(25.80%)
Innovative Medicine | Oncology | IMBRUVICA | International
Sales by segment of business
Sales to customers	$ 545	559	$ 1,681	1,847
Percent Change (as a percent)	(2.50%)		(9.00%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate
Sales by segment of business
Sales to customers	$ 214	456	$ 686	1,500
Percent Change (as a percent)	(53.00%)		(54.20%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate | U.S.
Sales by segment of business
Sales to customers	$ 16	16	$ 41	54
Percent Change (as a percent)	(2.80%)		(24.90%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate | International
Sales by segment of business
Sales to customers	$ 199	440	$ 646	1,446
Percent Change (as a percent)	(54.90%)		(55.30%)
Innovative Medicine | Oncology | OTHER ONCOLOGY
Sales by segment of business
Sales to customers	$ 229	100	$ 605	324
Percent Change (as a percent)			86.50%
Innovative Medicine | Oncology | OTHER ONCOLOGY | U.S.
Sales by segment of business
Sales to customers	143	37	$ 357	104
Innovative Medicine | Oncology | OTHER ONCOLOGY | International
Sales by segment of business
Sales to customers	$ 86	64	$ 248	220
Percent Change (as a percent)	34.50%		12.50%
Innovative Medicine | Pulmonary Hypertension
Sales by segment of business
Sales to customers	$ 954	852	$ 2,798	2,547
Percent Change (as a percent)	12%		9.90%
Innovative Medicine | Pulmonary Hypertension | U.S.
Sales by segment of business
Sales to customers	$ 680	604	$ 1,964	1,736
Percent Change (as a percent)	12.60%		13.10%
Innovative Medicine | Pulmonary Hypertension | International
Sales by segment of business
Sales to customers	$ 274	247	$ 835	810
Percent Change (as a percent)	10.50%		3%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT
Sales by segment of business
Sales to customers	$ 490	441	$ 1,437	1,322
Percent Change (as a percent)	11.20%		8.70%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT | U.S.
Sales by segment of business
Sales to customers	$ 323	289	$ 924	827
Percent Change (as a percent)	12.20%		11.80%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT | International
Sales by segment of business
Sales to customers	$ 166	152	$ 512	495
Percent Change (as a percent)	9.30%		3.50%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI
Sales by segment of business
Sales to customers	$ 402	333	$ 1,163	986
Percent Change (as a percent)	20.70%		18%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI | U.S.
Sales by segment of business
Sales to customers	$ 336	283	$ 978	824
Percent Change (as a percent)	18.90%		18.70%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI | International
Sales by segment of business
Sales to customers	$ 66	50	$ 185	162
Percent Change (as a percent)	30.90%		14.10%
Innovative Medicine | Pulmonary Hypertension | Other
Sales by segment of business
Sales to customers	$ 63	78	$ 199	239
Percent Change (as a percent)	(19.80%)		(16.90%)
Innovative Medicine | Pulmonary Hypertension | Other | U.S.
Sales by segment of business
Sales to customers	$ 20	33	$ 61	86
Percent Change (as a percent)	(37.10%)		(28.40%)
Innovative Medicine | Pulmonary Hypertension | Other | International
Sales by segment of business
Sales to customers	$ 42	46	$ 137	154
Percent Change (as a percent)	(7.50%)		(10.50%)
Innovative Medicine | Cardiovascular / Metabolism / Other
Sales by segment of business
Sales to customers	$ 957	1,034	$ 2,834	2,916
Percent Change (as a percent)	(7.50%)		(2.80%)
Innovative Medicine | Cardiovascular / Metabolism / Other | U.S.
Sales by segment of business
Sales to customers	$ 763	837	$ 2,254	2,266
Percent Change (as a percent)	(8.80%)		(0.50%)
Innovative Medicine | Cardiovascular / Metabolism / Other | International
Sales by segment of business
Sales to customers	$ 194	198	$ 580	651
Percent Change (as a percent)	(2.10%)		(10.80%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other
Sales by segment of business
Sales to customers	$ 332	345	$ 994	1,110
Percent Change (as a percent)	(3.80%)		(10.50%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other | U.S.
Sales by segment of business
Sales to customers	$ 139	147	$ 414	459
Percent Change (as a percent)	(6.10%)		(9.90%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other | International
Sales by segment of business
Sales to customers	$ 194	198	$ 580	651
Percent Change (as a percent)	(2.10%)		(10.80%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO
Sales by segment of business
Sales to customers	$ 625	689	$ 1,840	1,806
Percent Change (as a percent)	(9.40%)		1.90%
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO | U.S.
Sales by segment of business
Sales to customers	$ 625	689	$ 1,840	1,806
Percent Change (as a percent)	(9.40%)		1.90%
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO | International
Sales by segment of business
Sales to customers	$ 0	$ 0	$ 0	$ 0
Percent Change (as a percent)	0%		0%

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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Segment Reporting Information [Line Items]
Worldwide income before tax	$ 5,217	$ 5,172	$ 10,236	$ 15,519
Percentage Change in Operating Income Loss	0.90%		(34.00%)
Restructuring charges	$ 158	65	$ 433	200
Gain on shares outstanding			(600)
bermekimab
Segment Reporting Information [Line Items]
In-process research and development impairments			200	600
CONSUMER HEALTH | Baby Powder | Talc
Segment Reporting Information [Line Items]
Loss Contingency, Loss in Period			7,000
MedTech
Segment Reporting Information [Line Items]
Restructuring charges	200	100	200	200
Litigation expense		200		500
Acquisition and integration related expense			100
Innovative Medicine
Segment Reporting Information [Line Items]
Restructuring charges	100		400
Gain (Loss) Related to Litigation Settlement	100		100
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 5,979	5,276	$ 18,273	16,065
Percentage Change in Operating Income Loss	13.30%		13.70%
Restructuring charges	$ 384		$ 659
Operating Segments | MedTech
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 1,185	1,090	$ 4,265	3,641
Percentage Change in Operating Income Loss	8.70%		17.10%
Restructuring charges	$ 235		$ 235
Amortization	400	300	1,100	800
Operating Segments | Innovative Medicine
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 4,794	4,186	$ 14,008	12,424
Percentage Change in Operating Income Loss	14.50%		12.70%
Unrealized gain (loss) on securities	$ (400)	(200)	$ (500)	(700)
Restructuring charges	149		424
Amortization	700	700	2,200	2,200
Other Cost of Operating Revenue		400		700
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total Segment Operating Income	$ 762	$ 104	$ 8,037	$ 546

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		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Sales by geographic area
Sales	$ 21,351	$ 19,996	$ 63,764	$ 60,051
Percentage Change In Sales By Geographic Area	6.80%		6.20%
United States
Sales by geographic area
Sales	$ 11,996	10,794	$ 34,435	31,161
Percentage Change In Sales By Geographic Area	11.10%		10.50%
Europe
Sales by geographic area
Sales	$ 4,727	4,844	$ 15,448	15,540
Percentage Change In Sales By Geographic Area	(2.40%)		(0.60%)
Western Hemisphere, excluding U.S.
Sales by geographic area
Sales	$ 1,171	1,059	$ 3,383	3,084
Percentage Change In Sales By Geographic Area	10.50%		9.70%
Asia-Pacific, Africa
Sales by geographic area
Sales	$ 3,457	$ 3,299	$ 10,498	$ 10,266
Percentage Change In Sales By Geographic Area	4.80%		2.20%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Dec. 22, 2022	Jul. 02, 2023	Apr. 02, 2023	Oct. 01, 2023	Jan. 01, 2023
Business Acquisition [Line Items]
Useful life (in years)	14 years
Acquisition related costs			$ 300	$ 100
Goodwill, related to acquisitions				0
Contingent consideration				$ 1,178	$ 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 impairments	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

9 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 ($)

Oct. 01, 2023 USD ($) claim claimant

Oct. 01, 2023 USD ($) claim claimant

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

Talc

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

52,220

52,220

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

930

930

Pelvic Meshes

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

6,960

6,960

Physiomesh

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

720

720

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

3,390

Product liability contingency, number of claimants

4,300

Risperdal

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

220

220

Elmiron

Legal Proceeding (Textuals)

Product liability contingency, number of claimants

2,150

2,150

Opioid

Legal Proceeding (Textuals)

Number of pending claims | claim

35

35

Loss Contingency, Pending Claims, Number, Remaining | claim

430

430

Loss Contingency Pending Claims, Number, Additional | claim

3

3

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

3,584

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 - Narrative (

Kenvue Separation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended		9 Months Ended
	Aug. 23, 2023	May 08, 2023	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jul. 02, 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
Realized gain (loss) on investment		$ 2,500
Common stock received in exchange offer	$ 31,400
Accumulated other comprehensive loss			$ 8,780		8,780			$ 12,967
Transition service agreement, term	24 months
Separation costs incurred			$ 330	$ 249	$ 912	$ 619
Consumer Health
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net assets divested	$ 11,600
Accumulated other comprehensive loss	4,300
Decrease in noncontrolling interest	1,200
Noncash gain on exchange offer	$ 21,000
Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition manufacturing agreement, term	3 months
Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition manufacturing agreement, term	5 years
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]
Common stock, par value per share (in usd per share)		$ 0.01
Sales price per share (in usd per share)		$ 22
Stock issued in exchange offer (in shares)	1,533,830,450
Kenvue Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Stock issued in exchange offer (in shares)	190,955,436
Kenvue Inc. | Johnson & Johnson
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage ownership after transaction		89.60%
Common stock, value							$ 1,300
Percentage ownership after transaction	9.50%
Equity securities, fair market value	$ 4,300
Kenvue Inc. | Johnson & Johnson | Consumer Health
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncash gain on exchange offer	$ 2,800
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

Kenvue Separation - Net Earning

Kenvue Separation - Net Earnings from Discontinued Operation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Discontinued Operations and Disposal Groups [Abstract]
Sales to customers	$ 2,173	$ 3,795	$ 10,036	$ 11,186
Cost of products sold	911	1,635	4,369	4,812
Gross profit	1,262	2,160	5,667	6,374
Selling, marketing and administrative expenses	584	1,114	3,085	3,346
Research and development expense	24	112	258	337
Interest Income	(37)	0	(117)	0
Interest expense, net of portion capitalized	67	0	199	0
Other (income) expense, net	406	267	1,018	649
Gain on Kenvue separation	(20,984)	0	(20,984)	0
Restructuring	0	17	0	37
Earnings from Discontinued Operations Before Provision for Taxes on Income	21,202	650	22,208	2,005
Provision for taxes on income	(517)	502	298	727
Net earnings from Discontinued Operations	$ 21,719	$ 148	$ 21,910	$ 1,278

Kenvue Separation - Depreciatio

Kenvue Separation - Depreciation and Amortization of Discontinued Operation (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and Amortization	$ 383	$ 482
Capital expenditures	$ 162	$ 178

Kenvue Separation - Assets and

Kenvue Separation - Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Current assets
Cash and cash equivalents		$ 1,238
Accounts receivable trade, less allowances for doubtful accounts		2,121
Inventories		2,215
Prepaid expenses and other receivables		256
Total current assets of discontinued operations	$ 0	5,830
Property, plant and equipment, net		1,821
Intangible assets, net		9,836
Goodwill		9,184
Deferred taxes on income		176
Other assets		390
Total noncurrent assets of discontinued operations	0	21,407
Liabilities
Loans and notes payable		15
Accounts payable		1,814
Accrued liabilities		737
Accrued rebates, returns and promotions		838
Accrued compensation and employee related obligations		279
Accrued taxes on income		(93)
Total current liabilities of discontinued operations	0	3,590
Long-term debt		2
Deferred taxes on income		2,383
Employee related obligations		225
Other liabilities		291
Total noncurrent liabilities of discontinued operations	$ 0	$ 2,901

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 158	$ 65	$ 433	$ 200
R&D Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	149		424
R&D Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	500		500
R&D Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	600		600
Orthopedics Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	235
Orthopedics Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	700		700
Orthopedics Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	$ 800		$ 800

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 158	$ 65	$ 433	$ 200
Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	384		659
MEDTECH
Restructuring Cost and Reserve [Line Items]
Restructuring charges	200	$ 100	200	$ 200
MEDTECH | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	235		235
MEDTECH | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9		9
MEDTECH | Costs of Goods and Services Sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	226		226
Innovative Medicine
Restructuring Cost and Reserve [Line Items]
Restructuring charges	100		400
Innovative Medicine | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 149		$ 424