Johnson & Johnson (JNJ) 10-Q 1 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 25, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		2,406,679,183
Entity Central Index Key	0000200406
Current Fiscal Year End Date	--12-29
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents (Note 4)	$ 25,473	$ 21,859
Marketable securities	745	1,068
Accounts receivable, trade, less allowances $162 (2023, $166)	14,946	14,873
Inventories (Note 2)	11,383	11,181
Prepaid expenses and other	4,455	4,514
Total current assets	57,002	53,495
Property, plant and equipment at cost	47,585	47,776
Less: accumulated depreciation	(27,953)	(27,878)
Property, plant and equipment, net	19,632	19,898
Intangible assets, net (Note 3)	34,286	34,175
Goodwill (Note 3)	36,616	36,558
Deferred taxes on income (Note 5)	10,305	9,279
Other assets	14,125	14,153
Total assets	171,966	167,558
Current liabilities:
Loans and notes payable	8,550	3,451
Accounts payable	8,174	9,632
Accrued liabilities	10,323	10,212
Accrued rebates, returns and promotions	16,182	16,001
Accrued compensation and employee related obligations	2,178	3,993
Accrued taxes on income (Note 5)	3,318	2,993
Total current liabilities	48,725	46,282
Long-term debt (Note 4)	25,082	25,881
Deferred taxes on income (Note 5)	3,172	3,193
Employee related obligations (Note 6)	7,019	7,149
Long-term taxes payable (Note 5)	2,881	2,881
Other liabilities	15,067	13,398
Total liabilities	101,946	98,784
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)	(10,768)	(12,527)
Retained earnings and Additional paid-in capital	153,378	153,843
Less: common stock held in treasury, at cost (713,120,000 and 712,765,000 shares)	75,710	75,662
Total shareholders’ equity	70,020	68,774
Total shareholders’ equity	70,020	68,774
Total liabilities and shareholders’ equity	$ 171,966	$ 167,558

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Allowances for doubtful accounts	$ 162	$ 166
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)	713,120,000	712,765,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Statement [Abstract]
Sales to customers (Note 9)	$ 21,383	$ 20,894
Sales to customers percent to sales	100%	100%
Cost of products sold	$ 6,511	$ 6,687
Cost of products sold percent to sales	30.40%	32%
Gross profit	$ 14,872	$ 14,207
Gross Profit Percent To Sales	69.60%	68%
Selling, marketing and administrative expenses	$ 5,257	$ 4,906
Selling marketing and administrative expenses percent to sales	24.60%	23.50%
Research and development expense	$ 3,542	$ 3,455
Research and development expense percent to sales	16.60%	16.60%
In-process research and development impairments	$ 0	$ 49
In-process research and development percent to sales	0%	0.20%
Interest income	$ (364)	$ (198)
Interest income percent to sales	(1.70%)	(0.90%)
Interest expense, net of portion capitalized	$ 155	$ 212
Interest expense, net of portion capitalized percent to sales	0.70%	1%
Other (income) expense, net	$ 2,404	$ 6,940
Other (income) expense, net percent to sales	11.20%	33.20%
Restructuring (Note 12)	$ 164	$ 130
Restructuring charge percent to sales	0.80%	0.60%
Earnings (loss) before provision for taxes on income	$ 3,714	$ (1,287)
Earnings before provision for taxes on income percent to sales	17.40%	(6.20%)
Provision for (benefit from) taxes on income (Note 5)	$ 459	$ (796)
Provision for taxes on income percent to sales	2.20%	(3.90%)
Net earnings (loss) from continuing operations	$ 3,255	$ (491)
Net earnings from continuing operations percent of sales	15.20%	(2.30%)
Net earnings from discontinued operations, net of tax	$ 0	$ 423
Net earnings	$ 3,255	$ (68)
NET EARNINGS PER SHARE
Continuing operations - basic (in dollars per share)	$ 1.35	$ (0.19)
Discontinued operations - basic (in dollars per share)	0	0.16
Total net earnings per share - basic (in dollars per share)	1.35	(0.03)
Continuing operations - diluted (in dollars per share)	1.34	(0.19)
Discontinued operations - diluted (in dollars per share)	0	0.16
Total net earnings per share - diluted (in dollars per share)	$ 1.34	$ (0.03)
Avg. shares outstanding
Basic (shares)	2,408.2	2,605.5
Diluted (shares)	2,430.1	2,605.5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Net earnings / (Loss)	$ 3,255	$ (68)
Other comprehensive income (loss), net of tax
Foreign currency translation	2,123	(181)
Securities:
Unrealized holding gain (loss) arising during period	2	17
Reclassifications to earnings	0	0
Net change	2	17
Employee benefit plans:
Prior service cost amortization during period	(238)	(35)
Gain (loss) amortization during period	290	(33)
Net change	52	(68)
Derivatives & hedges:
Unrealized gain (loss) arising during period	(167)	570
Reclassifications to earnings	(251)	3
Net change	(418)	573
Other comprehensive income (loss)	1,759	341
Comprehensive income	$ 5,014	$ 273

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment income (loss)	$ 619	$ (234)
Securities income (loss)	(1)	(5)
Employee benefit plans income (loss)	42	22
Derivatives & hedges income (loss)	$ 111	$ (154)

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
Beginning balance at Jan. 01, 2023	$ 76,804	$ 128,345	$ (12,967)	$ 3,120	$ (41,694)
Net earnings	(68)	(68)
Cash dividends paid	(2,942)	(2,942)
Employee compensation and stock option plans	295	(777)			1,072
Repurchase of common stock	(3,537)				(3,537)
Other	(24)				(24)
Other comprehensive income (loss), net of tax	341		341
Ending balance at Apr. 02, 2023	70,869	124,558	(12,626)	3,120	(44,183)
Beginning balance at Dec. 31, 2023	68,774	153,843	(12,527)	3,120	(75,662)
Net earnings	3,255	3,255
Cash dividends paid	(2,869)	(2,869)
Employee compensation and stock option plans	577	(851)			1,428
Repurchase of common stock	(1,475)				(1,475)
Other	(1)				(1)
Other comprehensive income (loss), net of tax	1,759		1,759
Ending balance at Mar. 31, 2024	$ 70,020	$ 153,378	$ (10,768)	$ 3,120	$ (75,710)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends paid (in dollars per share)	$ 1.19	$ 1.13

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 3,255	$ (68)
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property and intangibles	1,815	1,880
Stock based compensation	302	306
Asset write-downs	185	426
Net gain on sale of assets/businesses	0	(8)
Deferred tax provision	(1,562)	(1,543)
Credit losses and accounts receivable allowances	0	1
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
Increase in accounts receivable	(279)	(54)
Increase in inventories	(348)	(524)
Decrease in accounts payable and accrued liabilities	(2,483)	(2,572)
Decrease/(Increase) in other current and non-current assets	3,199	(915)
(Decrease)/Increase in other current and non-current liabilities	(427)	6,328
Net cash flows from operating activities	3,657	3,257
Cash flows from investing activities
Additions to property, plant and equipment	(807)	(863)
Proceeds from the disposal of assets/businesses, net (Note 10)	210	40
Acquisitions, net of cash acquired (Note 10)	(1,811)	0
Purchases of investments	(630)	(3,774)
Sales of investments	979	7,766
Credit support agreements activity, net	1,600	158
Other (including capitalized licenses and milestones)	(5)	(12)
Net cash (used by)/ from investing activities	(464)	3,315
Cash flows from financing activities
Dividends to shareholders	(2,869)	(2,942)
Repurchase of common stock	(1,475)	(3,537)
Proceeds from short-term debt	5,263	11,094
Repayment of short-term debt	(890)	(5,388)
Proceeds from long-term debt, net of issuance costs	2	7,674
Repayment of long-term debt	(1)	(500)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net	195	(11)
Credit support agreements activity, net	228	(13)
Other	93	(239)
Net cash flows from financing activities	546	6,138
Effect of exchange rate changes on cash and cash equivalents	(125)	28
Increase in cash, cash equivalents and restricted cash	3,614	12,738
Cash and cash equivalents from continuing operations, beginning of period	21,859	12,889
Cash and cash equivalents from discontinued operations, beginning of period	0	1,238
Cash and Cash equivalents beginning of period	21,859	14,127
Cash and cash equivalents from continuing operations, end of period	25,473	25,188
Cash and cash equivalents from discontinued operations, end of period	0	1,677
Cash, cash equivalents and restricted cash, end of period	25,473	26,865
Acquisitions
Fair value of assets acquired	1,899	0
Fair value of liabilities assumed	(88)	0
Net cash paid for acquisitions	$ 1,811	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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 December 31, 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. 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 December 31, 2023. Recently adopted accounting standards There were no new material accounting standards adopted in the fiscal first quarter of 2024. Recently issued accounting standards Not adopted as of March 31, 2024 ASU 2023-07: Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures This update requires expanded annual and interim disclosures for significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. This update will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. This standard is to be applied retrospectively to all periods presented in the financial statements. Early adoption is permitted. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. ASU 2023-09: Income Taxes (Topic 740) - Improvements to Income Tax Disclosures This update standardizes categories for the effective tax rate reconciliation, requires disaggregation of income taxes and additional income tax-related disclosures. This update is required to be effective for the Company for fiscal periods beginning after December 15, 2024. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. There were no new material accounting standards issued in the fiscal first quarter of 2024. Supplier finance program obligations 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.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories (Dollars in Millions) March 31, 2024 December 31, 2023 Raw materials and supplies $2,331 2,355 Goods in process 2,172 1,952 Finished goods 6,880 6,874 Total inventories $11,383 11,181

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2024
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 2023. 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) March 31, 2024 December 31, 2023 Intangible assets with definite lives: Patents and trademarks — gross $39,198 40,417 Less accumulated amortization (24,826) (24,808) Patents and trademarks — net 14,372 15,609 Customer relationships and other intangibles — gross 19,930 20,322 Less accumulated amortization (12,742) (12,685) Customer relationships and other intangibles — net (1) 7,188 7,637 Intangible assets with indefinite lives: Trademarks 1,649 1,714 Purchased in-process research and development 11,077 9,215 Total intangible assets with indefinite lives 12,726 10,929 Total intangible assets — net $34,286 34,175 (1) The majority is comprised of customer relationships Goodwill as of March 31, 2024 was allocated by segment of business as follows: (Dollars in Millions) Innovative Medicine MedTech Total Goodwill at December 31, 2023 $10,407 26,151 36,558 Goodwill, related to acquisitions 290 — 290 Goodwill, related to divestitures — — — Currency translation/Other (145) (87) (232) Goodwill at March 31, 2024 $10,552 26,064 36,616 The weighted average amortization period for patents and trademarks is approximately 11 years. The weighted average amortization period for customer relationships and other intangible assets is approximately 18 years. The amortization expense of amortizable intangible assets included in the cost of products sold was $1.1 billion and $1.1 billion for the fiscal first quarters ended March 31, 2024 and April 2, 2023, respectively. Intangible asset write-downs are included in Other (income) expense, net. The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2024 2025 2026 2027 2028 $4,300 3,500 2,900 2,300 1,600 See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024, the cumulative amount of cash collateral paid by the Company under the CSA amounted to $2.2 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 March 31, 2024, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $43.2 billion, $39.6 billion and $10.0 billion, respectively. As of December 31, 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, $39.7 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 with due dates ranging from 2024 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 March 31, 2024, the balance of deferred net loss on derivatives included in accumulated other comprehensive income was $795 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 first quarters ended March 31, 2024 and April 2, 2023, net of tax: March 31, 2024 April 2, 2023 (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 $— — — 8 — — — — 169 — Derivatives designated as hedging instruments — — — (8) — — — — (169) — 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 — — — 34 — — — — 34 — Amount of gain or (loss) recognized in AOCI — — — 34 — — — — 34 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 1 165 4 — (2) 12 (146) (13) — 2 Amount of gain or (loss) recognized in AOCI (3) (19) 22 — 4 24 145 (36) — (14) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 49 — — — — 108 — Amount of gain or (loss) recognized in AOCI $— — — (205) — — — — 417 — As of March 31, 2024, and December 31, 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) March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Long-term Debt $8,871 8,862 (1,205) (1,216) The following table is the effect of derivatives not designated as hedging instruments for the fiscal first quarters ended 2024 and 2023: Gain/(Loss) (Dollars in Millions) Location of Gain /(Loss) Recognized in Income on Derivative Fiscal First Quarter Ended Derivatives Not Designated as Hedging Instruments March 31, 2024 April 2, 2023 Foreign Exchange Contracts Other (income) expense 25 (31) The following table is the effect of net investment hedges for the fiscal first quarters ended in 2024 and 2023: Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Debt $84 (77) Interest (income) expense — — Cross Currency interest rate swaps $728 690 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: December 31, 2023 March 31, 2024 (Dollars in Millions) 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* $4,473 30 (17) 4,486 4,486 Equity Investments without readily determinable value $696 23 (12) 707 707 (1) Recorded in Other (income)/expense, net (2) Other includes impact of currency * Includes the 9.5% remaining stake in Kenvue and the unfavorable change in the fair value of the investment. 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 March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 (Dollars in Millions) Level 1 Level 2 Level 3 Total Total (1) Derivatives designated as hedging instruments: Assets: Forward foreign exchange contracts $— 499 — 499 539 Interest rate contracts (2) — 1,202 — 1,202 988 Total — 1,701 — 1,701 1,527 Liabilities: Forward foreign exchange contracts — 401 — 401 624 Interest rate contracts (2) — 3,543 — 3,543 5,338 Total — 3,944 — 3,944 5,962 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 21 — 21 64 Liabilities: Forward foreign exchange contracts — 36 — 36 75 Other Investments: Equity investments (3) 4,486 — — 4,486 4,473 Debt securities (4) — 9,346 — 9,346 8,874 Other Liabilities Contingent consideration (5) $— — 1,114 1,114 1,092 Gross to Net Derivative Reconciliation March 31, 2024 December 31, 2023 (Dollars in Millions) Total Gross Assets $1,722 1,591 Credit Support Agreement (CSA) (1,681) (1,575) Total Net Asset 41 16 Total Gross Liabilities 3,980 6,037 Credit Support Agreement (CSA) (3,882) (5,604) Total Net Liabilities $98 433 Summarized information about changes in liabilities for contingent consideration for the fiscal first quarters ended March 31, 2024 and April 2, 2023 is as follows: March 31, 2024 April 2, 2023 (Dollars in Millions) Beginning Balance $1,092 1,120 Changes in estimated fair value (6) 22 23 Additions — — Payments — (1) Ending Balance $1,114 1,142 (1) 2023 assets and liabilities are all classified as Level 2 with the exception of equity investments of $4,473 million, which are classified as Level 1 and contingent consideration of $1,092 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) Classified as non-current other liabilities as of March 31, 2024 and December 31, 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 March 31, 2024 comprised: (Dollars in Millions) Carrying Amount Unrealized Gain Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $3,410 — 3,410 3,410 — U.S. Gov't securities 96 — 96 96 — Non-U.S. sovereign securities 324 — 324 324 — U.S. reverse repurchase agreements 7,892 — 7,892 7,892 — Corporate debt securities (1) 702 — 702 588 114 Money market funds 3,822 — 3,822 3,822 — Time deposits (1) 626 — 626 626 — Subtotal 16,872 — 16,872 16,758 114 U.S. Gov’t securities 9,064 — 9,064 8,665 399 U.S. Gov’t Agencies 41 2 43 — 43 Other sovereign securities 2 — 2 — 2 Corporate debt securities 237 — 237 50 187 Subtotal available for sale debt (2) $9,344 2 9,346 8,715 631 Total cash, cash equivalents and current marketable securities $26,216 2 26,218 25,473 745 (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 December 31, 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 March 31, 2024 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $9,331 9,333 Due after one year through five years 13 13 Due after five years through ten years — — Total debt securities $9,344 9,346 Financial instruments not measured at fair value The following financial liabilities are held at carrying amount on the consolidated balance sheet as of March 31, 2024: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $8,550 8,533 Non-Current Debt 0.55% Notes due 2025 974 940 2.46% Notes due 2026 1,998 1,917 2.95% Notes due 2027 907 958 0.95% Notes due 2027 1,434 1,337 2.90% Notes due 2028 1,497 1,422 1.150% Notes due 2028 (750MM Euro 1.0809) 807 751 6.95% Notes due 2029 298 339 1.30% Notes due 2030 1,633 1,466 4.95% Debentures due 2033 499 523 4.375% Notes due 2033 854 848 1.650% Notes due 2035 (1.5B Euro 1.0809) 1,610 1,430 3.587% Notes due 2036 862 893 5.95% Notes due 2037 994 1,110 3.625% Notes due 2037 1,354 1,333 3.40% Notes due 2038 993 858 5.85% Debentures due 2038 697 772 4.50% Debentures due 2040 541 530 2.10% Notes due 2040 844 688 4.85% Notes due 2041 297 301 4.50% Notes due 2043 496 481 3.73% Notes due 2046 1,978 1,675 3.75% Notes due 2047 825 829 3.50% Notes due 2048 743 598 2.25% Notes due 2050 816 629 2.45% Notes due 2060 1,064 743 Other 67 67 Total Non-Current Debt $25,082 23,438 The weighted average effective interest rate on non-current debt is 2.99%. The excess of the carrying value over the estimated fair value of debt was $1.0 billion at December 31, 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	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income taxes The worldwide effective income tax rates for the fiscal first quarters of 2024 and 2023 were 12.4% and 61.8%, respectively. The change in the consolidated tax rate as compared to the prior year fiscal first quarter is primarily due to a charge of $6.9 billion in the fiscal first quarter of 2023 and a charge of $2.7 billion in the fiscal first quarter of 2024, both for the talc settlement proposal. Both charges were recorded at an effective U.S. federal and state tax rate of approximately 23% (for further information see Note 11 to the Consolidated Financial Statements). Additionally in the fiscal first quarter of 2024, the effective tax rate was impacted by legislative changes that went into effect for Pillar Two in some of the Company's foreign jurisdictions. The Company also had tax benefits received from stock-based compensation that were either exercised or vested during each of the fiscal first quarters, as well as a capital loss tax benefit in the fiscal first quarter of 2024. As of March 31, 2024, the Company had approximately $2.5 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 Internal Revenue Service has completed its audit for the tax years through 2016 and in the fiscal first quarter of 2024 has commenced the audit for tax years 2017 through 2020. In other major jurisdictions where the Company conducts business, the years that remain open to tax audit go back to the year 2013. The Company believes it is possible that tax audits may be completed over the next twelve months by taxing authorities in some jurisdictions outside of the United States. 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	3 Months Ended
	Mar. 31, 2024
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 First Quarter Ended Retirement Plans Other Benefit Plans (Dollars in Millions) March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Service cost $224 210 69 68 Interest cost 352 352 52 54 Expected return on plan assets (642) (668) (2) (1) Amortization of prior service cost/ (credit) (46) (46) — — Recognized actuarial (gains)/losses 43 (50) 13 6 Curtailments and settlements — — — — Net periodic benefit cost/(credit) $(69) (202) 132 127 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 in the fiscal first quarter of 2023, 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. Company contributions For the fiscal three months ended March 31, 2024, the Company contributed $29 million and $3 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	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated other comprehensive income Components of other comprehensive income/(loss) consist of the following: (Dollars in Millions) Foreign Currency Translation Gain/ (Loss) On Securities Employee Benefit Plans Gain/ (Loss) On Derivatives & Hedges Total Accumulated Other Comprehensive Income/(Loss) December 31, 2023 $(10,149) (1) (2,000) (377) (12,527) Net change 2,123 2 52 (418) 1,759 March 31, 2024 (8,026) 1 (1,948) (795) (10,768) 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.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
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 First Quarter Ended (Shares in Millions) March 31, 2024 April 2, 2023 Basic net earnings (loss) per share from continuing operations $1.35 (0.19) Basic net earnings per share from discontinued operations — 0.16 Total net earnings (loss) per share - basic 1.35 (0.03) Average shares outstanding — basic 2,408.2 2,605.5 Potential shares exercisable under stock option plans 87.6 — Less: shares which could be repurchased under treasury stock method (65.7) — Average shares outstanding — diluted/basic* 2,430.1 2,605.5 Diluted net earnings (loss) per share from continuing operations 1.34 (0.19) Diluted net earnings per share from discontinuing operations — 0.16 Total net earnings (loss) per share - diluted $1.34 (0.03) The diluted net earnings per share calculation for the fiscal first quarter ended March 31, 2024 excluded 44.2 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. * Basic shares are used to calculate loss per share as use of diluted shares when in a loss position would be anti-dilutive.

Segments of Business and Geogra

Segments of Business and Geographic Areas	3 Months Ended
	Mar. 31, 2024
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 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 First Quarter Ended (Dollars in Millions) March 31, April 2, Percent INNOVATIVE MEDICINE Immunology U.S. $2,453 2,448 0.2 % International 1,794 1,664 7.9 Worldwide 4,247 4,112 3.3 REMICADE U.S. 266 276 (3.9) U.S. Exports 27 41 (32.7) International 141 170 (17.2) Worldwide 434 487 (10.9) SIMPONI / SIMPONI ARIA U.S. 254 271 (6.2) International 299 266 12.4 Worldwide 554 537 3.0 STELARA U.S. 1,396 1,451 (3.8) International 1,055 993 6.2 Worldwide 2,451 2,444 0.3 TREMFYA U.S. 509 406 25.4 International 299 234 27.9 Worldwide 808 640 26.3 OTHER IMMUNOLOGY U.S. 0 3 * International 0 0 — Worldwide 0 3 * Infectious Diseases U.S. 324 392 (17.4) International 497 1,193 (58.4) Worldwide 821 1,586 (48.3) COVID-19 VACCINE U.S. 0 0 — International 25 747 (96.6) Worldwide 25 747 (96.6) EDURANT / rilpivirine U.S. 8 9 (10.9) Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent International 315 271 16.6 Worldwide 323 280 15.7 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 314 378 (16.9) International 104 99 5.5 Worldwide 418 477 (12.3) OTHER INFECTIOUS DISEASES U.S. 2 5 (68.8) International 52 77 (32.8) Worldwide 53 82 (35.1) Neuroscience U.S. 1,054 978 7.8 International 749 826 (9.3) Worldwide 1,803 1,804 0.0 CONCERTA / methylphenidate U.S. 41 70 (41.2) International 136 136 (0.1) Worldwide 177 206 (14.1) INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 765 713 7.2 International 292 331 (11.8) Worldwide 1,056 1,044 1.2 SPRAVATO U.S. 191 111 71.5 International 34 20 76.1 Worldwide 225 131 72.2 OTHER NEUROSCIENCE U.S. 58 84 (31.1) International 287 339 (15.5) Worldwide 345 423 (18.5) Oncology U.S. 2,383 1,889 26.2 International 2,430 2,223 9.3 Worldwide 4,814 4,112 17.1 CARVYKTI U.S. 140 70 99.8 International 16 2 * Worldwide 157 72 * DARZALEX U.S. 1,464 1,191 22.9 Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent International 1,228 1,072 14.5 Worldwide 2,692 2,264 18.9 ERLEADA U.S. 285 249 14.1 International 404 293 38.0 Worldwide 689 542 27.0 IMBRUVICA U.S. 265 270 (1.5) International 518 557 (7.0) Worldwide 784 827 (5.2) TECVAYLI (1) U.S. 101 57 76.7 International 33 6 * Worldwide 133 63 * ZYTIGA / abiraterone acetate U.S. 9 16 (41.3) International 172 229 (24.8) Worldwide 181 245 (25.9) OTHER ONCOLOGY U.S. 119 35 * International 60 64 (6.1) Worldwide 178 99 80.2 Pulmonary Hypertension U.S. 766 600 27.5 International 283 272 4.1 Worldwide 1,049 872 20.2 OPSUMIT U.S. 356 273 30.4 International 169 167 0.8 Worldwide 524 440 19.1 UPTRAVI U.S. 392 304 29.0 International 76 58 30.7 Worldwide 468 362 29.2 OTHER PULMONARY HYPERTENSION U.S. 18 23 (24.6) International 39 47 (16.9) Worldwide 56 70 (19.5) Cardiovascular / Metabolism / Other U.S. 631 715 (11.7) International 197 212 (7.0) Worldwide 829 927 (10.6) Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent XARELTO U.S. 518 578 (10.4) International — — — Worldwide 518 578 (10.4) OTHER U.S. 114 137 (17.1) International 197 212 (7.0) Worldwide 311 349 (11.0) TOTAL INNOVATIVE MEDICINE U.S. 7,612 7,023 8.4 International 5,950 6,390 (6.9) Worldwide 13,562 13,413 1.1 MEDTECH Cardiovascular (2) U.S. 1,025 863 18.8 International 781 640 22.1 Worldwide 1,806 1,503 20.2 ELECTROPHYSIOLOGY U.S. 692 571 21.3 International 652 522 24.9 Worldwide 1,344 1,092 23.0 ABIOMED U.S. 303 264 15.0 International 67 60 12.4 Worldwide 371 324 14.5 OTHER CARDIOVASCULAR (2) U.S. 30 28 3.3 International 62 58 6.9 Worldwide 92 87 5.7 Orthopaedics U.S. 1,448 1,363 6.2 International 892 881 1.3 Worldwide 2,340 2,245 4.3 HIPS U.S. 270 241 12.1 International 152 149 1.7 Worldwide 422 390 8.1 KNEES U.S. 242 226 6.9 International 160 142 12.3 Worldwide 401 368 9.0 Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent TRAUMA U.S. 504 491 2.8 International 261 267 (2.3) Worldwide 765 757 1.0 SPINE, SPORTS & OTHER U.S. 432 406 6.5 International 320 323 (0.9) Worldwide 752 729 3.2 Surgery U.S. 987 975 1.2 International 1,429 1,459 (2.0) Worldwide 2,416 2,434 (0.7) ADVANCED U.S. 446 444 0.2 International 641 673 (4.7) Worldwide 1,087 1,118 (2.8) GENERAL U.S. 542 531 2.1 International 788 785 0.3 Worldwide 1,330 1,316 1.0 Vision U.S. 547 558 (1.8) International 710 743 (4.4) Worldwide 1,258 1,300 (3.3) CONTACT LENSES / OTHER U.S. 438 444 (1.4) International 472 509 (7.4) Worldwide 910 953 (4.6) SURGICAL U.S. 110 114 (3.7) International 238 233 2.2 Worldwide 348 347 0.3 TOTAL MEDTECH U.S. 4,008 3,759 6.6 International 3,813 3,722 2.4 Worldwide 7,821 7,481 4.5 WORLDWIDE U.S. 11,620 10,782 7.8 International 9,763 10,112 (3.4) Worldwide $21,383 20,894 2.3 % * Percentage greater than 100% or not meaningful (1) Previously included in Other Oncology (2) Previously referred to as Interventional Solutions Earnings before provision for taxes by segment Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent Innovative Medicine (1) $4,969 4,402 12.9 % MedTech (2) 1,520 1,409 7.9 Segment earnings before provision for taxes 6,489 5,811 11.7 Less: Expense not allocated to segments (3) 2,775 7,098 Worldwide income (loss) before tax $3,714 (1,287) (1) Innovative Medicine includes: • Intangible amortization expense of $0.7 billion in both the fiscal first quarter of 2024 and 2023. • One-time COVID-19 Vaccine related exit costs of $0.4 billion in the fiscal first quarter of 2023. • A restructuring related charge of $0.1 billion in both the fiscal first quarter of 2024 and 2023. (2) MedTech includes: • Intangible amortization expense of $0.4 billion in both the fiscal first quarter of 2024 and 2023. (3 ) Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal first quarters of 2024 and 2023 include charges for talc matters of $2.7 billion and $6.9 billion, respectively (See Note 11, Legal Proceedings, for additional details). Sales by geographic area Fiscal First Quarter Ended (Dollars in Millions) March 31, 2024 April 2, 2023 Percent United States $11,620 10,782 7.8 % Europe 5,163 5,590 (7.6) Western Hemisphere, excluding U.S. 1,194 1,076 11.0 Asia-Pacific, Africa 3,406 3,446 (1.1) Total $21,383 20,894 2.3 %

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2024
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and divestitures Subsequent to the fiscal first quarter of 2024, the Company announced that it has entered into a definitive agreement to acquire all outstanding shares of Shockwave Medical, Inc. (Shockwave) (Nasdaq: SWAV), a leading, first-to-market provider of innovative intravascular lithotripsy (IVL) technology for the treatment of calcified coronary artery disease (CAD) and peripheral artery disease (PAD), for $335.00 per share in cash, corresponding to an enterprise value of approximately $13.1 billion including cash acquired. The results of operations will be included in the MedTech segment as of the acquisition date. The closing of the transaction is expected to occur by mid–year 2024. On March 7, 2024, the Company completed the acquisition of Ambrx Biopharma, Inc., (Ambrx), a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody drug conjugates (ADCs), in an all-cash merger transaction for a total equity value of approximately $2.0 billion, or $1.8 billion net of cash acquired. The Company acquired all of the outstanding shares of Ambrx’s common stock for $28.00 per share through a merger of Ambrx with a subsidiary of the Company. The transaction was accounted for as a business combination and the results of operations were included in the Innovative Medicine segment as of the acquisition date. The fair value of the acquisition was allocated to assets acquired of $2.3 billion, primarily non-amortizable intangible assets, inclusive of purchased IPR&D, for $1.9 billion, goodwill for $0.3 billion and liabilities assumed of $0.5 billion, which includes deferred taxes of $0.4 billion. The preliminary purchase price allocation is subject to any subsequent valuation adjustments within the measurement period. A probability of success factor ranging from 40% to 70% was used in the fair value calculation to reflect inherent regulatory and commercial risk of the IPR&D. The discount rate applied was approximately 17%. The goodwill is primarily attributable to synergies expected to arise from the business acquisition and is not expected to be deductible for tax purposes. Acquisition related costs before tax for the fiscal first quarter of 2024 were not material. Divestitures In the fiscal first quarter of 2024, the Company completed the divestiture of Ponvory resulting in approximately $0.2 billion in proceeds. There were no material acquisitions or divestitures in the fiscal first quarter of 2023.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024, 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 (now known as LLT Management LLC) and the Company arising out of the use of body powders containing talc, primarily JOHNSON’S Baby Powder. In talc cases that 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. 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. 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. 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. In July 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. In October 2023, the Third Circuit granted LTL’s petition for a direct appeal. Briefing is ongoing. In October 2023, the Company stated that it was pursuing the following four parallel and alternative pathways to achieve a comprehensive and final resolution of the talc claims: (i) the appeal of the LTL 2 dismissal decision; (ii) pursuing a consensual “prepackaged” bankruptcy case, as “strongly encouraged” by the Bankruptcy Court in its dismissal decision; (iii) aggressively litigating the talc claims in the tort system; and (iv) pursuing affirmative claims against experts for false and defamatory narratives regarding the Company’s talc powder products. Following the dismissal of LTL 2, new lawsuits were filed, cases across the country that had been stayed were reactivated, and trials have commenced. The majority of the cases are pending in federal court, organized in a multi-district litigation (MDL) in the United States District Court for the District of New Jersey. In the MDL, case-specific discovery is proceeding with an expectation that a trial will occur in early 2025. In March 2024, the court granted the Company's motion for a renewed Daubert hearing and set a briefing schedule. On May 1, 2024, the Company commenced a three-month solicitation period of its proposed consensual “prepackaged” chapter 11 bankruptcy plan (the “Proposed Plan”) for the comprehensive and final resolution of all current and future claims related to cosmetic talc in the United States, excluding claims related to mesothelioma or State consumer protection claims, in exchange for the payment by the Company of present value of approximately $6.475 billion payable over 25 years (nominal value of approximately $8.4 billion, discounted at a rate of 4.4%). The claims encompassed by the Proposed Plan constitute 99.75% of pending lawsuits against the Company relating to its talc powder products. Mesothelioma and State consumer protection claims are being addressed outside the Proposed Plan. The Company separately has resolved 95% of the mesothelioma lawsuits filed to date, and has agreements in principle to resolve the State claims. To account for these settlements and the contemplated comprehensive resolution through the Proposed Plan, the Company recorded an incremental charge of approximately $2.7 billion, for a total reserve as of the first fiscal quarter 2024 at a present value of approximately $11 billion (or nominal value of approximately $13.7 billion). Approximately one-third of the reserve is recorded as a current liability. The recorded amount remains the Company's best estimate of probable loss. During the pendency of the solicitation period, the Company will continue to pursue in parallel the other three previously-announced pathways to resolve the talc claims, including proceeding with the Daubert motions in the MDL. 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 (the TDP) 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. After the confirmation hearing was canceled, 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 engaged in mediation. 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. In January 2024, Imerys and Cyprus each filed a disclosure statement for its respective Chapter 11 plans. On April 29, 2024, the Company, Imerys and Cyprus reached an agreement in principle on monetary and non-monetary terms to resolve their ongoing disputes, including disputes raised in the Imerys and Cyprus bankruptcies. 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. In December 2023, the Court granted Plaintiff’s motion for class certification. In January 2024, Defendants filed a petition with the Third Circuit under Federal Rule of Civil Procedure 23(f) for permission to appeal the Court’s order granting class certification, and in February 2024, the Third Circuit granted Defendants' petition. Fact discovery closed in February 2024 and the Court ordered the parties to mediate. The Court stayed the case pending the mediation, which is scheduled for May 2024. 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. On April 29, 2024, the Ninth Circuit affirmed the District Court's order dismissing the case with prejudice. 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 for April 2024. The Company filed summary judgment and Daubert motions. The State filed a limited Daubert motion. The parties agreed to the Court's request for mediation. The Company has reached an agreement to resolve this matter. 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. While the State notified the New Mexico Supreme Court of the lifted stay of litigation in April 2023, the Court has not taken any action since being notified of the lifting of the stay and it remains in effect. The Company has reached an agreement to resolve this matter. 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. In January 2024, the Company reached an agreement in principle with the multi-state group of state Attorneys General, subject to ongoing negotiation of non-monetary terms. 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 were filed by state and local governments, which were subject to a final settlement in 2021. As of January 2024, the Company and JPI have settled or otherwise resolved the opioid claims advanced by all government entity claimants except the City of Baltimore, a number of school districts, and other claimants. 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 July 2021, the Company announced finalization of an agreement to settle all remaining state and subdivision claims for up to $5.0 billion. Approximately 60% of the all-in settlement was paid by the end of fiscal first quarter 2024, and will increase to approximately 75% by fiscal year end 2024. 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, 435 remaining cases in the Ohio MDL, and 4 additional cases in other federal courts. Some of these cases have been dismissed and are being appealed by the plaintiffs and certain others are scheduled for trial in 2024, 2025, or 2026. 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. In November 2019, a shareholder 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 appealed the state court’s dismissal order, and briefing on the appeal concluded in October 2022. In February 2024, the appellate court affirmed the dismissal of the shareholder's amended complaint. In March 2024, the shareholder filed a notice of petition for certification with the Supreme Court of New Jersey seeking review of the appellate court's decision. 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, Contingencies. 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 March 31, 2024: Product or product category Number of plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 61,490 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 920 Pelvic meshes 6,440 ETHICON PHYSIOMESH Flexible Composite Mesh 230 RISPERDAL 50 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 for the Southern District of West Virginia. In March 2021, the MDL Court entered an order closing the MDL. The MDL Court has remanded cases for trial to the jurisdictions where the case was originally filed and additional pelvic mesh lawsuits have been filed, and remain, outside of the MDL. The Company has settled or otherwise resolved the majority of the United States cases and the estimated costs associated with these settlements and the remaining cases are reflected in the Company’s accruals. In addition, class actions and individual personal injury cases or claims seeking damages for alleged injury resulting from Ethicon’s pelvic mesh devices have been commenced in various countries outside of the United States, including claims and cases in the United Kingdom, the Netherlands, Belgium, France, Ireland, Italy, Spain and Slovenia and class actions in Israel, Australia, Canada and South Africa. Th

Kenvue Separation

Kenvue Separation	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Kenvue Separation	Note 13— Kenvue separation The results of the Consumer Health business (previously reported as a separate business segment) 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. Details of Net Earnings from Discontinued Operations, net of taxes are as follows: Fiscal First Quarter Ended (Dollars in Millions) April 2, 2023 Sales to customers $3,852 Cost of products sold 1,708 Gross profit 2,144 Selling, marketing and administrative expenses 1,232 Research and development expense 108 Interest Income (37) Interest expense, net of portion capitalized 3 Other (income) expense, net 288 Earnings from Discontinued Operations Before Provision for Taxes on Income 550 Provision for taxes on income 127 Net earnings from Discontinued Operations $423 The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue: Fiscal First Quarter Ended (Dollars in Millions) April 2, 2023 Depreciation and Amortization $153 Capital expenditures $47

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 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 $144 million in the fiscal first quarter of 2024, included the termination of partnered and non-partnered development program costs and asset impairments. The pre-tax restructuring charge of approximately $0.1 billion in the fiscal first quarter of 2023 included the termination of partnered and non-partnered program costs and asset impairments. Total project costs of approximately $0.6 billion have been recorded since the restructuring was announced. The majority of the restructuring is completed, with minor charges expected in the remainder of year. In fiscal 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 $27 million in the fiscal first quarter of 2024, primarily included costs related to market and product exits. Total project costs of approximately $0.3 billion have been recorded since the restructuring was announced. The estimated costs of the total program are between $0.7 billion - $0.8 billion and is expected to be completed by the end of fiscal year 2025. The following table summarizes the restructuring expenses for 2024: (Pre-tax Dollars in Millions) Fiscal First Quarter Ended Innovative Medicine Segment (1) $144 MedTech Segment (2) 27 Total Programs $171 (1) Included in Restructuring on the Consolidated Statement of Earnings (2) Included $20 million in Restructuring and $7 million in Cost of products sold on the Consolidated Statement of Earnings Restructuring reserves as of March 31, 2024 and December 31, 2023 were insignificant.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net earnings	$ 3,255	$ (68)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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 December 31, 2023. Recently adopted accounting standards There were no new material accounting standards adopted in the fiscal first quarter of 2024. Recently issued accounting standards Not adopted as of March 31, 2024 ASU 2023-07: Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures This update requires expanded annual and interim disclosures for significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. This update will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. This standard is to be applied retrospectively to all periods presented in the financial statements. Early adoption is permitted. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. ASU 2023-09: Income Taxes (Topic 740) - Improvements to Income Tax Disclosures This update standardizes categories for the effective tax rate reconciliation, requires disaggregation of income taxes and additional income tax-related disclosures. This update is required to be effective for the Company for fiscal periods beginning after December 15, 2024. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements. There were no new material accounting standards issued in the fiscal first quarter of 2024.
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)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Summary of Inventories	(Dollars in Millions) March 31, 2024 December 31, 2023 Raw materials and supplies $2,331 2,355 Goods in process 2,172 1,952 Finished goods 6,880 6,874 Total inventories $11,383 11,181

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	(Dollars in Millions) March 31, 2024 December 31, 2023 Intangible assets with definite lives: Patents and trademarks — gross $39,198 40,417 Less accumulated amortization (24,826) (24,808) Patents and trademarks — net 14,372 15,609 Customer relationships and other intangibles — gross 19,930 20,322 Less accumulated amortization (12,742) (12,685) Customer relationships and other intangibles — net (1) 7,188 7,637 Intangible assets with indefinite lives: Trademarks 1,649 1,714 Purchased in-process research and development 11,077 9,215 Total intangible assets with indefinite lives 12,726 10,929 Total intangible assets — net $34,286 34,175 (1) The majority is comprised of customer relationships
Goodwill	Goodwill as of March 31, 2024 was allocated by segment of business as follows: (Dollars in Millions) Innovative Medicine MedTech Total Goodwill at December 31, 2023 $10,407 26,151 36,558 Goodwill, related to acquisitions 290 — 290 Goodwill, related to divestitures — — — Currency translation/Other (145) (87) (232) Goodwill at March 31, 2024 $10,552 26,064 36,616
Intangible Asset Amortization Expense	The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately: (Dollars in Millions) 2024 2025 2026 2027 2028 $4,300 3,500 2,900 2,300 1,600

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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 first quarters ended March 31, 2024 and April 2, 2023, net of tax: March 31, 2024 April 2, 2023 (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 $— — — 8 — — — — 169 — Derivatives designated as hedging instruments — — — (8) — — — — (169) — 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 — — — 34 — — — — 34 — Amount of gain or (loss) recognized in AOCI — — — 34 — — — — 34 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 1 165 4 — (2) 12 (146) (13) — 2 Amount of gain or (loss) recognized in AOCI (3) (19) 22 — 4 24 145 (36) — (14) Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 49 — — — — 108 — Amount of gain or (loss) recognized in AOCI $— — — (205) — — — — 417 — The following table is the effect of net investment hedges for the fiscal first quarters ended in 2024 and 2023: Gain/(Loss) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Gain/(Loss) Reclassified From (Dollars in Millions) March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Debt $84 (77) Interest (income) expense — — Cross Currency interest rate swaps $728 690 Interest (income) expense — —
Schedule of Derivative Financial Instruments and Classification on Consolidated Balance Sheet	As of March 31, 2024, and December 31, 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) March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 Long-term Debt $8,871 8,862 (1,205) (1,216)
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 first quarters ended 2024 and 2023: Gain/(Loss) (Dollars in Millions) Location of Gain /(Loss) Recognized in Income on Derivative Fiscal First Quarter Ended Derivatives Not Designated as Hedging Instruments March 31, 2024 April 2, 2023 Foreign Exchange Contracts Other (income) expense 25 (31)
Summary of Activity Related to Equity Investments	The following table is a summary of the activity related to equity investments: December 31, 2023 March 31, 2024 (Dollars in Millions) 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* $4,473 30 (17) 4,486 4,486 Equity Investments without readily determinable value $696 23 (12) 707 707 (1) Recorded in Other (income)/expense, net (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 March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 (Dollars in Millions) Level 1 Level 2 Level 3 Total Total (1) Derivatives designated as hedging instruments: Assets: Forward foreign exchange contracts $— 499 — 499 539 Interest rate contracts (2) — 1,202 — 1,202 988 Total — 1,701 — 1,701 1,527 Liabilities: Forward foreign exchange contracts — 401 — 401 624 Interest rate contracts (2) — 3,543 — 3,543 5,338 Total — 3,944 — 3,944 5,962 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 21 — 21 64 Liabilities: Forward foreign exchange contracts — 36 — 36 75 Other Investments: Equity investments (3) 4,486 — — 4,486 4,473 Debt securities (4) — 9,346 — 9,346 8,874 Other Liabilities Contingent consideration (5) $— — 1,114 1,114 1,092 Gross to Net Derivative Reconciliation March 31, 2024 December 31, 2023 (Dollars in Millions) Total Gross Assets $1,722 1,591 Credit Support Agreement (CSA) (1,681) (1,575) Total Net Asset 41 16 Total Gross Liabilities 3,980 6,037 Credit Support Agreement (CSA) (3,882) (5,604) Total Net Liabilities $98 433 Summarized information about changes in liabilities for contingent consideration for the fiscal first quarters ended March 31, 2024 and April 2, 2023 is as follows: March 31, 2024 April 2, 2023 (Dollars in Millions) Beginning Balance $1,092 1,120 Changes in estimated fair value (6) 22 23 Additions — — Payments — (1) Ending Balance $1,114 1,142 (1) 2023 assets and liabilities are all classified as Level 2 with the exception of equity investments of $4,473 million, which are classified as Level 1 and contingent consideration of $1,092 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) Classified as non-current other liabilities as of March 31, 2024 and December 31, 2023, respectively. (6)
Marketable Securities	The Company's cash, cash equivalents and current marketable securities as of March 31, 2024 comprised: (Dollars in Millions) Carrying Amount Unrealized Gain Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $3,410 — 3,410 3,410 — U.S. Gov't securities 96 — 96 96 — Non-U.S. sovereign securities 324 — 324 324 — U.S. reverse repurchase agreements 7,892 — 7,892 7,892 — Corporate debt securities (1) 702 — 702 588 114 Money market funds 3,822 — 3,822 3,822 — Time deposits (1) 626 — 626 626 — Subtotal 16,872 — 16,872 16,758 114 U.S. Gov’t securities 9,064 — 9,064 8,665 399 U.S. Gov’t Agencies 41 2 43 — 43 Other sovereign securities 2 — 2 — 2 Corporate debt securities 237 — 237 50 187 Subtotal available for sale debt (2) $9,344 2 9,346 8,715 631 Total cash, cash equivalents and current marketable securities $26,216 2 26,218 25,473 745 (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 March 31, 2024 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $9,331 9,333 Due after one year through five years 13 13 Due after five years through ten years — — Total debt securities $9,344 9,346
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 March 31, 2024: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $8,550 8,533 Non-Current Debt 0.55% Notes due 2025 974 940 2.46% Notes due 2026 1,998 1,917 2.95% Notes due 2027 907 958 0.95% Notes due 2027 1,434 1,337 2.90% Notes due 2028 1,497 1,422 1.150% Notes due 2028 (750MM Euro 1.0809) 807 751 6.95% Notes due 2029 298 339 1.30% Notes due 2030 1,633 1,466 4.95% Debentures due 2033 499 523 4.375% Notes due 2033 854 848 1.650% Notes due 2035 (1.5B Euro 1.0809) 1,610 1,430 3.587% Notes due 2036 862 893 5.95% Notes due 2037 994 1,110 3.625% Notes due 2037 1,354 1,333 3.40% Notes due 2038 993 858 5.85% Debentures due 2038 697 772 4.50% Debentures due 2040 541 530 2.10% Notes due 2040 844 688 4.85% Notes due 2041 297 301 4.50% Notes due 2043 496 481 3.73% Notes due 2046 1,978 1,675 3.75% Notes due 2047 825 829 3.50% Notes due 2048 743 598 2.25% Notes due 2050 816 629 2.45% Notes due 2060 1,064 743 Other 67 67 Total Non-Current Debt $25,082 23,438

Pensions and Other Benefit Pl_2

Pensions and Other Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2024
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 First Quarter Ended Retirement Plans Other Benefit Plans (Dollars in Millions) March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Service cost $224 210 69 68 Interest cost 352 352 52 54 Expected return on plan assets (642) (668) (2) (1) Amortization of prior service cost/ (credit) (46) (46) — — Recognized actuarial (gains)/losses 43 (50) 13 6 Curtailments and settlements — — — — Net periodic benefit cost/(credit) $(69) (202) 132 127

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	Components of other comprehensive income/(loss) consist of the following: (Dollars in Millions) Foreign Currency Translation Gain/ (Loss) On Securities Employee Benefit Plans Gain/ (Loss) On Derivatives & Hedges Total Accumulated Other Comprehensive Income/(Loss) December 31, 2023 $(10,149) (1) (2,000) (377) (12,527) Net change 2,123 2 52 (418) 1,759 March 31, 2024 (8,026) 1 (1,948) (795) (10,768)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
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 First Quarter Ended (Shares in Millions) March 31, 2024 April 2, 2023 Basic net earnings (loss) per share from continuing operations $1.35 (0.19) Basic net earnings per share from discontinued operations — 0.16 Total net earnings (loss) per share - basic 1.35 (0.03) Average shares outstanding — basic 2,408.2 2,605.5 Potential shares exercisable under stock option plans 87.6 — Less: shares which could be repurchased under treasury stock method (65.7) — Average shares outstanding — diluted/basic* 2,430.1 2,605.5 Diluted net earnings (loss) per share from continuing operations 1.34 (0.19) Diluted net earnings per share from discontinuing operations — 0.16 Total net earnings (loss) per share - diluted $1.34 (0.03)

Segments of Business and Geog_2

Segments of Business and Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Sales By Segment Of Business	Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent INNOVATIVE MEDICINE Immunology U.S. $2,453 2,448 0.2 % International 1,794 1,664 7.9 Worldwide 4,247 4,112 3.3 REMICADE U.S. 266 276 (3.9) U.S. Exports 27 41 (32.7) International 141 170 (17.2) Worldwide 434 487 (10.9) SIMPONI / SIMPONI ARIA U.S. 254 271 (6.2) International 299 266 12.4 Worldwide 554 537 3.0 STELARA U.S. 1,396 1,451 (3.8) International 1,055 993 6.2 Worldwide 2,451 2,444 0.3 TREMFYA U.S. 509 406 25.4 International 299 234 27.9 Worldwide 808 640 26.3 OTHER IMMUNOLOGY U.S. 0 3 * International 0 0 — Worldwide 0 3 * Infectious Diseases U.S. 324 392 (17.4) International 497 1,193 (58.4) Worldwide 821 1,586 (48.3) COVID-19 VACCINE U.S. 0 0 — International 25 747 (96.6) Worldwide 25 747 (96.6) EDURANT / rilpivirine U.S. 8 9 (10.9) Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent International 315 271 16.6 Worldwide 323 280 15.7 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 314 378 (16.9) International 104 99 5.5 Worldwide 418 477 (12.3) OTHER INFECTIOUS DISEASES U.S. 2 5 (68.8) International 52 77 (32.8) Worldwide 53 82 (35.1) Neuroscience U.S. 1,054 978 7.8 International 749 826 (9.3) Worldwide 1,803 1,804 0.0 CONCERTA / methylphenidate U.S. 41 70 (41.2) International 136 136 (0.1) Worldwide 177 206 (14.1) INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 765 713 7.2 International 292 331 (11.8) Worldwide 1,056 1,044 1.2 SPRAVATO U.S. 191 111 71.5 International 34 20 76.1 Worldwide 225 131 72.2 OTHER NEUROSCIENCE U.S. 58 84 (31.1) International 287 339 (15.5) Worldwide 345 423 (18.5) Oncology U.S. 2,383 1,889 26.2 International 2,430 2,223 9.3 Worldwide 4,814 4,112 17.1 CARVYKTI U.S. 140 70 99.8 International 16 2 * Worldwide 157 72 * DARZALEX U.S. 1,464 1,191 22.9 Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent International 1,228 1,072 14.5 Worldwide 2,692 2,264 18.9 ERLEADA U.S. 285 249 14.1 International 404 293 38.0 Worldwide 689 542 27.0 IMBRUVICA U.S. 265 270 (1.5) International 518 557 (7.0) Worldwide 784 827 (5.2) TECVAYLI (1) U.S. 101 57 76.7 International 33 6 * Worldwide 133 63 * ZYTIGA / abiraterone acetate U.S. 9 16 (41.3) International 172 229 (24.8) Worldwide 181 245 (25.9) OTHER ONCOLOGY U.S. 119 35 * International 60 64 (6.1) Worldwide 178 99 80.2 Pulmonary Hypertension U.S. 766 600 27.5 International 283 272 4.1 Worldwide 1,049 872 20.2 OPSUMIT U.S. 356 273 30.4 International 169 167 0.8 Worldwide 524 440 19.1 UPTRAVI U.S. 392 304 29.0 International 76 58 30.7 Worldwide 468 362 29.2 OTHER PULMONARY HYPERTENSION U.S. 18 23 (24.6) International 39 47 (16.9) Worldwide 56 70 (19.5) Cardiovascular / Metabolism / Other U.S. 631 715 (11.7) International 197 212 (7.0) Worldwide 829 927 (10.6) Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent XARELTO U.S. 518 578 (10.4) International — — — Worldwide 518 578 (10.4) OTHER U.S. 114 137 (17.1) International 197 212 (7.0) Worldwide 311 349 (11.0) TOTAL INNOVATIVE MEDICINE U.S. 7,612 7,023 8.4 International 5,950 6,390 (6.9) Worldwide 13,562 13,413 1.1 MEDTECH Cardiovascular (2) U.S. 1,025 863 18.8 International 781 640 22.1 Worldwide 1,806 1,503 20.2 ELECTROPHYSIOLOGY U.S. 692 571 21.3 International 652 522 24.9 Worldwide 1,344 1,092 23.0 ABIOMED U.S. 303 264 15.0 International 67 60 12.4 Worldwide 371 324 14.5 OTHER CARDIOVASCULAR (2) U.S. 30 28 3.3 International 62 58 6.9 Worldwide 92 87 5.7 Orthopaedics U.S. 1,448 1,363 6.2 International 892 881 1.3 Worldwide 2,340 2,245 4.3 HIPS U.S. 270 241 12.1 International 152 149 1.7 Worldwide 422 390 8.1 KNEES U.S. 242 226 6.9 International 160 142 12.3 Worldwide 401 368 9.0 Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent TRAUMA U.S. 504 491 2.8 International 261 267 (2.3) Worldwide 765 757 1.0 SPINE, SPORTS & OTHER U.S. 432 406 6.5 International 320 323 (0.9) Worldwide 752 729 3.2 Surgery U.S. 987 975 1.2 International 1,429 1,459 (2.0) Worldwide 2,416 2,434 (0.7) ADVANCED U.S. 446 444 0.2 International 641 673 (4.7) Worldwide 1,087 1,118 (2.8) GENERAL U.S. 542 531 2.1 International 788 785 0.3 Worldwide 1,330 1,316 1.0 Vision U.S. 547 558 (1.8) International 710 743 (4.4) Worldwide 1,258 1,300 (3.3) CONTACT LENSES / OTHER U.S. 438 444 (1.4) International 472 509 (7.4) Worldwide 910 953 (4.6) SURGICAL U.S. 110 114 (3.7) International 238 233 2.2 Worldwide 348 347 0.3 TOTAL MEDTECH U.S. 4,008 3,759 6.6 International 3,813 3,722 2.4 Worldwide 7,821 7,481 4.5 WORLDWIDE U.S. 11,620 10,782 7.8 International 9,763 10,112 (3.4) Worldwide $21,383 20,894 2.3 % * Percentage greater than 100% or not meaningful (1) Previously included in Other Oncology (2) Previously referred to as Interventional Solutions
Operating Profit by Segment of Business	Fiscal First Quarter Ended (Dollars in Millions) March 31, April 2, Percent Innovative Medicine (1) $4,969 4,402 12.9 % MedTech (2) 1,520 1,409 7.9 Segment earnings before provision for taxes 6,489 5,811 11.7 Less: Expense not allocated to segments (3) 2,775 7,098 Worldwide income (loss) before tax $3,714 (1,287) (1) Innovative Medicine includes: • Intangible amortization expense of $0.7 billion in both the fiscal first quarter of 2024 and 2023. • One-time COVID-19 Vaccine related exit costs of $0.4 billion in the fiscal first quarter of 2023. • A restructuring related charge of $0.1 billion in both the fiscal first quarter of 2024 and 2023. (2) MedTech includes: • Intangible amortization expense of $0.4 billion in both the fiscal first quarter of 2024 and 2023. (3 ) Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal first quarters of 2024 and 2023 include charges for talc matters of $2.7 billion and $6.9 billion, respectively (See Note 11, Legal Proceedings, for additional details).
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Fiscal First Quarter Ended (Dollars in Millions) March 31, 2024 April 2, 2023 Percent United States $11,620 10,782 7.8 % Europe 5,163 5,590 (7.6) Western Hemisphere, excluding U.S. 1,194 1,076 11.0 Asia-Pacific, Africa 3,406 3,446 (1.1) Total $21,383 20,894 2.3 %

Legal Proceedings (Tables)

Legal Proceedings (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024: Product or product category Number of plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 61,490 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 920 Pelvic meshes 6,440 ETHICON PHYSIOMESH Flexible Composite Mesh 230 RISPERDAL 50 ELMIRON 2,150

Kenvue Separation (Tables)

Kenvue Separation (Tables)	3 Months Ended
	Mar. 31, 2024
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 First Quarter Ended (Dollars in Millions) April 2, 2023 Sales to customers $3,852 Cost of products sold 1,708 Gross profit 2,144 Selling, marketing and administrative expenses 1,232 Research and development expense 108 Interest Income (37) Interest expense, net of portion capitalized 3 Other (income) expense, net 288 Earnings from Discontinued Operations Before Provision for Taxes on Income 550 Provision for taxes on income 127 Net earnings from Discontinued Operations $423 The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue: Fiscal First Quarter Ended (Dollars in Millions) April 2, 2023 Depreciation and Amortization $153 Capital expenditures $47

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve	The following table summarizes the restructuring expenses for 2024: (Pre-tax Dollars in Millions) Fiscal First Quarter Ended Innovative Medicine Segment (1) $144 MedTech Segment (2) 27 Total Programs $171 (1) Included in Restructuring on the Consolidated Statement of Earnings (2) Included $20 million in Restructuring and $7 million in Cost of products sold on the Consolidated Statement of Earnings

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Supplier finance program, payment timing, period	90 days
Supplier finance program, obligation	$ 600	$ 700

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 2,331	$ 2,355
Goods in process	2,172	1,952
Finished goods	6,880	6,874
Total inventories	$ 11,383	$ 11,181

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	$ 12,726	$ 10,929
Total intangible assets — net	34,286	34,175
Trademarks
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	1,649	1,714
Purchased In-Process Research And Development
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	11,077	9,215
Patents And Trademarks
Intangible assets with definite lives:
Finite-lived intangible assets, gross	39,198	40,417
Less accumulated amortization	(24,826)	(24,808)
Finite-lived intangible assets, net	14,372	15,609
Customer relationships and other intangible assets
Intangible assets with definite lives:
Finite-lived intangible assets, gross	19,930	20,322
Less accumulated amortization	(12,742)	(12,685)
Finite-lived intangible assets, net	$ 7,188	$ 7,637

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Goodwill By Segment (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill Beginning of Period	$ 36,558
Goodwill, related to acquisitions	290
Goodwill, related to divestitures	0
Currency translation/Other	(232)
Goodwill End of Period	36,616
Innovative Medicine
Goodwill [Roll Forward]
Goodwill Beginning of Period	10,407
Goodwill, related to acquisitions	290
Goodwill, related to divestitures	0
Currency translation/Other	(145)
Goodwill End of Period	10,552
MedTech
Goodwill [Roll Forward]
Goodwill Beginning of Period	26,151
Goodwill, related to acquisitions	0
Goodwill, related to divestitures	0
Currency translation/Other	(87)
Goodwill End of Period	$ 26,064

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization expense of amortizable intangible assets	$ 1,100	$ 1,100
Patents And Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	11 years
Customer relationships and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	18 years

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Intangible Asset Amortization Expense (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 4,300
2025	3,500
2026	2,900
2027	2,300
2028	$ 1,600

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Oct. 01, 2023	Dec. 31, 2023
Derivative [Line Items]
Accumulated other comprehensive income on derivatives, after tax	$ 795
Hedging exposure	18 months
Weighted average interest rate on non-current debt	2.99%
Excess of carrying value over fair value of debt		$ 1,000
Current Debt	$ 8,550		$ 3,451
Commercial Paper
Derivative [Line Items]
Current Debt	$ 6,300
Weighted average interest rate	5.25%
Term	3 months
Forward foreign exchange contracts
Derivative [Line Items]
Collateral already posted, aggregate fair value	$ 2,200
Derivative, notional amount	43,200		42,900
Cross currency interest rate swaps
Derivative [Line Items]
Derivative, notional amount	39,600		39,700
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
	Mar. 31, 2024	Apr. 02, 2023
Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	$ 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
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
Amount of gain or (loss) recognized in AOCI	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
Amount of gain or (loss) recognized in AOCI	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
Amount of gain or (loss) recognized in AOCI	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	8	169
Amount of gain or (loss) recognized in AOCI	(8)	(169)
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
Amount of gain or (loss) recognized in AOCI	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	34	34
Amount of gain or (loss) recognized in AOCI	34	34
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
Cash Flow Hedging | Forward foreign exchange contracts | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	(3)	24
Amount of gain or (loss) reclassified from AOCI into income	1	12
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	(19)	145
Amount of gain or (loss) reclassified from AOCI into income	165	(146)
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	22	(36)
Amount of gain or (loss) reclassified from AOCI into income	4	(13)
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
Amount of gain or (loss) reclassified from AOCI into income	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	4	(14)
Amount of gain or (loss) reclassified from AOCI into income	(2)	2
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
Amount of gain or (loss) reclassified from AOCI into income	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
Amount of gain or (loss) reclassified from AOCI into income	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
Amount of gain or (loss) reclassified from AOCI into income	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	(205)	417
Amount of gain or (loss) reclassified from AOCI into income	49	108
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
Amount of gain or (loss) reclassified from AOCI into income	$ 0	$ 0

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives, Balance Sheet Location (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Carrying Amount of the Hedged Liability	$ 3,980	$ 6,037
Long-term Debt | Designated as Hedging Instrument
Derivative [Line Items]
Carrying Amount of the Hedged Liability	8,871	8,862
Cumulative Amount of Fair Value Hedging Gain/ (Loss) Included in the Carrying Amount of the Hedged Liability	$ (1,205)	$ (1,216)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Effect of Derivatives not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Not Designated as Hedging Instrument | Forward foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Income on Derivative	$ 25	$ (31)

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Effect of Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	$ 84	$ (77)
Other Income Expense Net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	0	0
Cross Currency Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	728	690
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

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Activity Related to Equity Investments (Details) - USD ($) $ in Millions		3 Months Ended
	Aug. 23, 2023	Mar. 31, 2024	Dec. 31, 2023
Equity Investment [Roll Forward]
Non Current Other Assets		$ 14,125	$ 14,153
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		4,473
Equity, Fair Value Adjustment		30
Sales/ Purchases/Other		(17)
Carrying value, end of period		4,486
Non Current Other Assets		4,486
Equity Securities | Equity Investments without readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period		696
Equity, Fair Value Adjustment		23
Sales/ Purchases/Other		(12)
Carrying value, end of period		707
Non Current Other Assets		$ 707

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	$ 1,701
Derivatives designated as hedging instruments : Liabilities	3,944
Available-for-sale Securities, Equity Securities	4,486		$ 4,473
Available-for-sale Securities	9,346		8,874
Contingent consideration	1,114		1,092
Total Gross Assets	1,722		1,591
Credit Support Agreement (CSA)	(1,681)		(1,575)
Total Net Asset	41		16
Total Gross Liabilities	3,980		6,037
Credit Support Agreement (CSA)	(3,882)		(5,604)
Total Net Liabilities	98		433
Beginning Balance	1,092	$ 1,120
Changes in estimated fair value(6)	22	23
Additions	0	0
Payments	0	(1)
Ending Balance	1,114	$ 1,142
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	4,486		4,473
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	1,701		1,527
Derivatives designated as hedging instruments : Liabilities	3,944		5,962
Available-for-sale Securities, Equity Securities	0
Available-for-sale Securities	9,346
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	1,114		1,092
Interest Rate Contract
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	1,202
Derivatives designated as hedging instruments : Liabilities	3,543
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	1,202		988
Derivatives designated as hedging instruments : Liabilities	3,543		5,338
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	499
Derivatives designated as hedging instruments : Liabilities	401
Derivatives not designated as hedging instruments : Assets	21
Derivatives not designated as hedging instruments : Liabilities	36
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	499		539
Derivatives designated as hedging instruments : Liabilities	401		624
Derivatives not designated as hedging instruments : Assets	21		64
Derivatives not designated as hedging instruments : Liabilities	36		$ 75
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

Fair Value Measurements - Cash,

Fair Value Measurements - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Estimated Fair Value	$ 9,346	$ 8,874
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	25,473	21,859
Marketable securities	745	$ 1,068
Total cash, cash equivalents and current marketable securities, Carrying Amount	26,216
Total cash, cash equivalents and current marketable securities, Unrealized Gain	2
Total cash, cash equivalents and current marketable securities, Estimated Fair Value	26,218
Held-to-maturity Securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	16,872
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	16,872
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	16,758
Marketable securities	114
Held-to-maturity Securities | Cash
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,410
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	3,410
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,410
Marketable securities	0
Held-to-maturity Securities | U.S. Gov't securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	96
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	96
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	96
Marketable securities	0
Held-to-maturity Securities | Non-U.S. sovereign securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	324
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	324
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	324
Marketable securities	0
Held-to-maturity Securities | U.S. reverse repurchase agreements
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	7,892
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	7,892
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	7,892
Marketable securities	0
Held-to-maturity Securities | Corporate debt securities(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	702
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	702
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	588
Marketable securities	114
Held-to-maturity Securities | Money market funds
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,822
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	3,822
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,822
Marketable securities	0
Held-to-maturity Securities | Time deposits(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	626
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	626
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	626
Marketable securities	0
Available-for-sale Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	9,344
Available-for-sale Securities, Unrecognized Gain	2
Available-for-sale Securities - Estimated Fair Value	9,346
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	8,715
Marketable securities	631
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	9,064
Available-for-sale Securities - Estimated Fair Value	9,064
Available-for-sale Securities | U.S. Gov’t Agencies
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	41
Available-for-sale Securities - Estimated Fair Value	43
Available-for-sale Securities | Non-U.S. sovereign securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	2
Available-for-sale Securities - Estimated Fair Value	2
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	237
Available-for-sale Securities - Estimated Fair Value	237
Available-for-sale Securities | Non-U.S. sovereign securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities, Unrecognized Gain	0
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	0
Marketable securities	2
Available-for-sale Securities | Corporate debt securities(1)
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities, Unrecognized Gain	0
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	50
Marketable securities	187
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities, Unrecognized Gain	0
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	8,665
Marketable securities	399
Available-for-sale Securities | U.S. Gov’t Agencies
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities, Unrecognized Gain	2
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	0
Marketable securities	$ 43

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Available for Sale Securities Maturities (Details) $ in Millions	Mar. 31, 2024 USD ($)
Cost Basis
Due within one year	$ 9,331
Due after one year through five years	13
Due after five years through ten years	0
Total debt securities	9,344
Fair Value
Due within one year	9,333
Due after one year through five years	13
Due after five years through ten years	0
Total debt securities	$ 9,346

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Liabilities not Measured at Fair Value (Details)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Financial Liabilities
Current Debt	$ 8,550,000,000		$ 3,451,000,000
Non-Current Debt
Non-Current Debt	25,082,000,000		$ 25,881,000,000
Carrying Amount
Financial Liabilities
Current Debt	8,550,000,000
Non-Current Debt
Non-Current Debt	25,082,000,000
Estimated Fair Value
Financial Liabilities
Current Debt	8,533,000,000
Non-Current Debt
Non-Current Debt	$ 23,438,000,000
0.55% Notes due 2025
Non-Current Debt
Stated interest rate (as a percent)	0.55%	0.55%
0.55% Notes due 2025 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 974,000,000
0.55% Notes due 2025 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 940,000,000
2.46% Notes due 2026
Non-Current Debt
Stated interest rate (as a percent)	2.46%	2.46%
2.46% Notes due 2026 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,998,000,000
2.46% Notes due 2026 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,917,000,000
2.95% Notes due 2027
Non-Current Debt
Stated interest rate (as a percent)	2.95%	2.95%
2.95% Notes due 2027 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 907,000,000
2.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 958,000,000
0.95% Notes due 2027
Non-Current Debt
Stated interest rate (as a percent)	0.95%	0.95%
0.95% Notes due 2027 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,434,000,000
0.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,337,000,000
2.90% Notes due 2028
Non-Current Debt
Stated interest rate (as a percent)	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	$ 1,422,000,000
1.150% Notes due 2028 (750MM Euro 1.0809)
Non-Current Debt
Stated interest rate (as a percent)	1.15%	1.15%
Debt instrument, face amount | €		€ 750,000,000
Foreign exchange rate	1.0809	1.0809
1.150% Notes due 2028 (750MM Euro 1.0809) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 807,000,000
1.150% Notes due 2028 (750MM Euro 1.0809) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 751,000,000
6.95% Notes due 2029
Non-Current Debt
Stated interest rate (as a percent)	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	$ 339,000,000
1.30% Notes due 2030
Non-Current Debt
Stated interest rate (as a percent)	1.30%	1.30%
1.30% Notes due 2030 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,633,000,000
1.30% Notes due 2030 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,466,000,000
4.95% Debentures due 2033
Non-Current Debt
Stated interest rate (as a percent)	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	$ 523,000,000
4.375% Notes due 2033
Non-Current Debt
Stated interest rate (as a percent)	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	848,000,000
1.650% Notes due 2035 (1.5B Euro 1.0809) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,610,000,000
Stated interest rate (as a percent)	1.65%	1.65%
Debt instrument, face amount	$ 1,500,000,000
Foreign exchange rate	1.0809	1.0809
1.650% Notes due 2035 (1.5B Euro 1.0809) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,430,000,000
3.587% Notes due 2036
Non-Current Debt
Stated interest rate (as a percent)	3.587%	3.587%
3.587% Notes due 2036 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 862,000,000
3.587% Notes due 2036 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 893,000,000
5.95% Notes due 2037
Non-Current Debt
Stated interest rate (as a percent)	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	$ 1,110,000,000
3.625% Notes due 2037
Non-Current Debt
Stated interest rate (as a percent)	3.625%	3.625%
3.625% Notes due 2037 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,354,000,000
3.625% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,333,000,000
3.40% Notes due 2038
Non-Current Debt
Stated interest rate (as a percent)	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	$ 858,000,000
5.85% Debentures due 2038
Non-Current Debt
Stated interest rate (as a percent)	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	$ 772,000,000
4.50% Debentures due 2040
Non-Current Debt
Stated interest rate (as a percent)	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	$ 530,000,000
2.10% Notes due 2040
Non-Current Debt
Stated interest rate (as a percent)	2.10%	2.10%
2.10% Notes due 2040 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 844,000,000
2.10% Notes due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 688,000,000
4.85% Notes due 2041
Non-Current Debt
Stated interest rate (as a percent)	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	$ 301,000,000
4.50% Notes due 2043
Non-Current Debt
Stated interest rate (as a percent)	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	$ 481,000,000
3.73% Notes due 2046
Non-Current Debt
Stated interest rate (as a percent)	3.73%	3.73%
3.73% Notes due 2046 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,978,000,000
3.73% Notes due 2046 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,675,000,000
3.75% Notes due 2047
Non-Current Debt
Stated interest rate (as a percent)	3.75%	3.75%
3.75% Notes due 2047 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 825,000,000
3.75% Notes due 2047 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 829,000,000
3.50% Notes due 2048
Non-Current Debt
Stated interest rate (as a percent)	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	$ 598,000,000
2.25% Notes due 2050
Non-Current Debt
Stated interest rate (as a percent)	2.25%	2.25%
2.25% Notes due 2050 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 816,000,000
2.25% Notes due 2050 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 629,000,000
2.45% Notes due 2060
Non-Current Debt
Stated interest rate (as a percent)	2.45%	2.45%
2.45% Notes due 2060 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,064,000,000
2.45% Notes due 2060 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	743,000,000
Other | Carrying Amount
Non-Current Debt
Non-Current Debt	67,000,000
Other | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 67,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Tax Contingency
Worldwide effective income tax rate (as a percent)	12.40%	61.80%
Effective income tax rate reconciliation, tax settlement, percent	23%	23%
Unrecognized tax benefits	$ 2,500
Talc | CONSUMER HEALTH
Income Tax Contingency
Litigation expense	$ 2,700	$ 6,900

Pensions and Other Benefit Pl_3

Pensions and Other Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Retirement Plans
Components of net periodic benefit cost
Service cost	$ 224	$ 210
Interest cost	352	352
Expected return on plan assets	(642)	(668)
Amortization of prior service cost/‍(credit)	(46)	(46)
Recognized actuarial (gains)/losses	43	(50)
Curtailments and settlements	0	0
Net periodic benefit cost/(credit)	(69)	(202)
Other Benefit Plans
Components of net periodic benefit cost
Service cost	69	68
Interest cost	52	54
Expected return on plan assets	(2)	(1)
Amortization of prior service cost/‍(credit)	0	0
Recognized actuarial (gains)/losses	13	6
Curtailments and settlements	0	0
Net periodic benefit cost/(credit)	$ 132	$ 127

Pensions and Other Benefit Pl_4

Pensions and Other Benefit Plans (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 29
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 68,774
Net change	1,759
Ending balance	70,020
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(10,149)
Net change	2,123
Ending balance	(8,026)
Gain/ (Loss) On Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1)
Net change	2
Ending balance	1
Employee Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,000)
Net change	52
Ending balance	(1,948)
Gain/ (Loss) On Derivatives & Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(377)
Net change	(418)
Ending balance	(795)
Total Accumulated Other Comprehensive Income/(Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(12,527)
Ending balance	$ (10,768)

Earnings Per Share (Details)

Earnings Per Share (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Reconciliation of basic net earnings per share to diluted net earnings per share
Continuing operations - basic (in dollars per share)	$ 1.35	$ (0.19)
Discontinued operations - basic (in dollars per share)	0	0.16
Total net earnings per share - basic (in dollars per share)	$ 1.35	$ (0.03)
Average shares outstanding — basic	2,408.2	2,605.5
Potential shares exercisable under stock option plans	87.6	0
Less: shares which could be repurchased under treasury stock method	(65.7)	0
Average shares outstanding — diluted/basic*	2,430.1	2,605.5
Continuing operations - diluted (in dollars per share)	$ 1.34	$ (0.19)
Discontinued operations - diluted (in dollars per share)	0	0.16
Total net earnings per share - diluted (in dollars per share)	$ 1.34	$ (0.03)
Antidilutive securities excluded from computation of earnings per share, amount	44.2

Segments of Business and Geog_3

Segments of Business and Geographic Areas - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	2

Segments of Business and Geog_4

Segments of Business and Geographic Areas - Sales By Segment Of Business (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Sales by segment of business
Sales to customers	$ 21,383	$ 20,894
Percent Change (as a percent)	2.30%
U.S.
Sales by segment of business
Sales to customers	$ 11,620	10,782
Percent Change (as a percent)	7.80%
International
Sales by segment of business
Sales to customers	$ 9,763	10,112
Percent Change (as a percent)	(3.40%)
MEDTECH
Sales by segment of business
Sales to customers	$ 7,821	7,481
Percent Change (as a percent)	4.50%
MEDTECH | U.S.
Sales by segment of business
Sales to customers	$ 4,008	3,759
Percent Change (as a percent)	6.60%
MEDTECH | International
Sales by segment of business
Sales to customers	$ 3,813	3,722
Percent Change (as a percent)	2.40%
MEDTECH | Cardiovascular(2)
Sales by segment of business
Sales to customers	$ 1,806	1,503
Percent Change (as a percent)	20.20%
MEDTECH | Cardiovascular(2) | U.S.
Sales by segment of business
Sales to customers	$ 1,025	863
Percent Change (as a percent)	18.80%
MEDTECH | Cardiovascular(2) | International
Sales by segment of business
Sales to customers	$ 781	640
Percent Change (as a percent)	22.10%
MEDTECH | ELECTROPHYSIOLOGY
Sales by segment of business
Sales to customers	$ 1,344	1,092
Percent Change (as a percent)	23%
MEDTECH | ELECTROPHYSIOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 692	571
Percent Change (as a percent)	21.30%
MEDTECH | ELECTROPHYSIOLOGY | International
Sales by segment of business
Sales to customers	$ 652	522
Percent Change (as a percent)	24.90%
MEDTECH | ABIOMED
Sales by segment of business
Sales to customers	$ 371	324
Percent Change (as a percent)	14.50%
MEDTECH | ABIOMED | U.S.
Sales by segment of business
Sales to customers	$ 303	264
Percent Change (as a percent)	15%
MEDTECH | ABIOMED | International
Sales by segment of business
Sales to customers	$ 67	60
Percent Change (as a percent)	12.40%
MEDTECH | OTHER CARDIOVASCULAR(2)
Sales by segment of business
Sales to customers	$ 92	87
Percent Change (as a percent)	5.70%
MEDTECH | OTHER CARDIOVASCULAR(2) | U.S.
Sales by segment of business
Sales to customers	$ 30	28
Percent Change (as a percent)	3.30%
MEDTECH | OTHER CARDIOVASCULAR(2) | International
Sales by segment of business
Sales to customers	$ 62	58
Percent Change (as a percent)	6.90%
MEDTECH | Orthopaedics
Sales by segment of business
Sales to customers	$ 2,340	2,245
Percent Change (as a percent)	4.30%
MEDTECH | Orthopaedics | U.S.
Sales by segment of business
Sales to customers	$ 1,448	1,363
Percent Change (as a percent)	6.20%
MEDTECH | Orthopaedics | International
Sales by segment of business
Sales to customers	$ 892	881
Percent Change (as a percent)	1.30%
MEDTECH | Orthopaedics | HIPS
Sales by segment of business
Sales to customers	$ 422	390
Percent Change (as a percent)	8.10%
MEDTECH | Orthopaedics | HIPS | U.S.
Sales by segment of business
Sales to customers	$ 270	241
Percent Change (as a percent)	12.10%
MEDTECH | Orthopaedics | HIPS | International
Sales by segment of business
Sales to customers	$ 152	149
Percent Change (as a percent)	1.70%
MEDTECH | Orthopaedics | KNEES
Sales by segment of business
Sales to customers	$ 401	368
Percent Change (as a percent)	9%
MEDTECH | Orthopaedics | KNEES | U.S.
Sales by segment of business
Sales to customers	$ 242	226
Percent Change (as a percent)	6.90%
MEDTECH | Orthopaedics | KNEES | International
Sales by segment of business
Sales to customers	$ 160	142
Percent Change (as a percent)	12.30%
MEDTECH | Orthopaedics | TRAUMA
Sales by segment of business
Sales to customers	$ 765	757
Percent Change (as a percent)	1%
MEDTECH | Orthopaedics | TRAUMA | U.S.
Sales by segment of business
Sales to customers	$ 504	491
Percent Change (as a percent)	2.80%
MEDTECH | Orthopaedics | TRAUMA | International
Sales by segment of business
Sales to customers	$ 261	267
Percent Change (as a percent)	(2.30%)
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER
Sales by segment of business
Sales to customers	$ 752	729
Percent Change (as a percent)	3.20%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | U.S.
Sales by segment of business
Sales to customers	$ 432	406
Percent Change (as a percent)	6.50%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | International
Sales by segment of business
Sales to customers	$ 320	323
Percent Change (as a percent)	(0.90%)
MEDTECH | Surgery
Sales by segment of business
Sales to customers	$ 2,416	2,434
Percent Change (as a percent)	(0.70%)
MEDTECH | Surgery | U.S.
Sales by segment of business
Sales to customers	$ 987	975
Percent Change (as a percent)	1.20%
MEDTECH | Surgery | International
Sales by segment of business
Sales to customers	$ 1,429	1,459
Percent Change (as a percent)	(2.00%)
MEDTECH | Surgery | ADVANCED
Sales by segment of business
Sales to customers	$ 1,087	1,118
Percent Change (as a percent)	(2.80%)
MEDTECH | Surgery | ADVANCED | U.S.
Sales by segment of business
Sales to customers	$ 446	444
Percent Change (as a percent)	0.20%
MEDTECH | Surgery | ADVANCED | International
Sales by segment of business
Sales to customers	$ 641	673
Percent Change (as a percent)	(4.70%)
MEDTECH | Surgery | GENERAL
Sales by segment of business
Sales to customers	$ 1,330	1,316
Percent Change (as a percent)	1%
MEDTECH | Surgery | GENERAL | U.S.
Sales by segment of business
Sales to customers	$ 542	531
Percent Change (as a percent)	2.10%
MEDTECH | Surgery | GENERAL | International
Sales by segment of business
Sales to customers	$ 788	785
Percent Change (as a percent)	0.30%
MEDTECH | Vision
Sales by segment of business
Sales to customers	$ 1,258	1,300
Percent Change (as a percent)	(3.30%)
MEDTECH | Vision | U.S.
Sales by segment of business
Sales to customers	$ 547	558
Percent Change (as a percent)	(1.80%)
MEDTECH | Vision | International
Sales by segment of business
Sales to customers	$ 710	743
Percent Change (as a percent)	(4.40%)
MEDTECH | Vision | CONTACT LENSES / OTHER
Sales by segment of business
Sales to customers	$ 910	953
Percent Change (as a percent)	(4.60%)
MEDTECH | Vision | CONTACT LENSES / OTHER | U.S.
Sales by segment of business
Sales to customers	$ 438	444
Percent Change (as a percent)	(1.40%)
MEDTECH | Vision | CONTACT LENSES / OTHER | International
Sales by segment of business
Sales to customers	$ 472	509
Percent Change (as a percent)	(7.40%)
MEDTECH | Vision | SURGICAL
Sales by segment of business
Sales to customers	$ 348	347
Percent Change (as a percent)	0.30%
MEDTECH | Vision | SURGICAL | U.S.
Sales by segment of business
Sales to customers	$ 110	114
Percent Change (as a percent)	(3.70%)
MEDTECH | Vision | SURGICAL | International
Sales by segment of business
Sales to customers	$ 238	233
Percent Change (as a percent)	2.20%
Innovative Medicine
Sales by segment of business
Sales to customers	$ 13,562	13,413
Percent Change (as a percent)	1.10%
Innovative Medicine | U.S.
Sales by segment of business
Sales to customers	$ 7,612	7,023
Percent Change (as a percent)	8.40%
Innovative Medicine | International
Sales by segment of business
Sales to customers	$ 5,950	6,390
Percent Change (as a percent)	(6.90%)
Innovative Medicine | Immunology
Sales by segment of business
Sales to customers	$ 4,247	4,112
Percent Change (as a percent)	3.30%
Innovative Medicine | Immunology | U.S.
Sales by segment of business
Sales to customers	$ 2,453	2,448
Percent Change (as a percent)	0.20%
Innovative Medicine | Immunology | International
Sales by segment of business
Sales to customers	$ 1,794	1,664
Percent Change (as a percent)	7.90%
Innovative Medicine | Immunology | REMICADE
Sales by segment of business
Sales to customers	$ 434	487
Percent Change (as a percent)	(10.90%)
Innovative Medicine | Immunology | REMICADE | U.S.
Sales by segment of business
Sales to customers	$ 266	276
Percent Change (as a percent)	(3.90%)
Innovative Medicine | Immunology | REMICADE | U.S. Exports
Sales by segment of business
Sales to customers	$ 27	41
Percent Change (as a percent)	(32.70%)
Innovative Medicine | Immunology | REMICADE | International
Sales by segment of business
Sales to customers	$ 141	170
Percent Change (as a percent)	(17.20%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA
Sales by segment of business
Sales to customers	$ 554	537
Percent Change (as a percent)	3%
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA | U.S.
Sales by segment of business
Sales to customers	$ 254	271
Percent Change (as a percent)	(6.20%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA | International
Sales by segment of business
Sales to customers	$ 299	266
Percent Change (as a percent)	12.40%
Innovative Medicine | Immunology | STELARA
Sales by segment of business
Sales to customers	$ 2,451	2,444
Percent Change (as a percent)	0.30%
Innovative Medicine | Immunology | STELARA | U.S.
Sales by segment of business
Sales to customers	$ 1,396	1,451
Percent Change (as a percent)	(3.80%)
Innovative Medicine | Immunology | STELARA | International
Sales by segment of business
Sales to customers	$ 1,055	993
Percent Change (as a percent)	6.20%
Innovative Medicine | Immunology | TREMFYA
Sales by segment of business
Sales to customers	$ 808	640
Percent Change (as a percent)	26.30%
Innovative Medicine | Immunology | TREMFYA | U.S.
Sales by segment of business
Sales to customers	$ 509	406
Percent Change (as a percent)	25.40%
Innovative Medicine | Immunology | TREMFYA | International
Sales by segment of business
Sales to customers	$ 299	234
Percent Change (as a percent)	27.90%
Innovative Medicine | Immunology | OTHER IMMUNOLOGY
Sales by segment of business
Sales to customers	$ 0	3
Innovative Medicine | Immunology | OTHER IMMUNOLOGY | U.S.
Sales by segment of business
Sales to customers	0	3
Innovative Medicine | Immunology | OTHER IMMUNOLOGY | International
Sales by segment of business
Sales to customers	$ 0	0
Percent Change (as a percent)	0%
Innovative Medicine | Infectious Diseases
Sales by segment of business
Sales to customers	$ 821	1,586
Percent Change (as a percent)	(48.30%)
Innovative Medicine | Infectious Diseases | U.S.
Sales by segment of business
Sales to customers	$ 324	392
Percent Change (as a percent)	(17.40%)
Innovative Medicine | Infectious Diseases | International
Sales by segment of business
Sales to customers	$ 497	1,193
Percent Change (as a percent)	(58.40%)
Innovative Medicine | Infectious Diseases | COVID-19
Sales by segment of business
Sales to customers	$ 25	747
Percent Change (as a percent)	(96.60%)
Innovative Medicine | Infectious Diseases | COVID-19 | U.S.
Sales by segment of business
Sales to customers	$ 0	$ 0
Percent Change (as a percent)		0%
Innovative Medicine | Infectious Diseases | COVID-19 | International
Sales by segment of business
Sales to customers	$ 25	$ 747
Percent Change (as a percent)	(96.60%)
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine
Sales by segment of business
Sales to customers	$ 323	280
Percent Change (as a percent)	15.70%
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine | U.S.
Sales by segment of business
Sales to customers	$ 8	9
Percent Change (as a percent)	(10.90%)
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine | International
Sales by segment of business
Sales to customers	$ 315	271
Percent Change (as a percent)	16.60%
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
Sales by segment of business
Sales to customers	$ 418	477
Percent Change (as a percent)	(12.30%)
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | U.S.
Sales by segment of business
Sales to customers	$ 314	378
Percent Change (as a percent)	(16.90%)
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | International
Sales by segment of business
Sales to customers	$ 104	99
Percent Change (as a percent)	5.50%
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES(
Sales by segment of business
Sales to customers	$ 53	82
Percent Change (as a percent)	(35.10%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES( | U.S.
Sales by segment of business
Sales to customers	$ 2	5
Percent Change (as a percent)	(68.80%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES( | International
Sales by segment of business
Sales to customers	$ 52	77
Percent Change (as a percent)	(32.80%)
Innovative Medicine | Neuroscience
Sales by segment of business
Sales to customers	$ 1,803	1,804
Percent Change (as a percent)	0%
Innovative Medicine | Neuroscience | U.S.
Sales by segment of business
Sales to customers	$ 1,054	978
Percent Change (as a percent)	7.80%
Innovative Medicine | Neuroscience | International
Sales by segment of business
Sales to customers	$ 749	826
Percent Change (as a percent)	(9.30%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate
Sales by segment of business
Sales to customers	$ 177	206
Percent Change (as a percent)	(14.10%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate | U.S.
Sales by segment of business
Sales to customers	$ 41	70
Percent Change (as a percent)	(41.20%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate | International
Sales by segment of business
Sales to customers	$ 136	136
Percent Change (as a percent)	(0.10%)
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
Sales by segment of business
Sales to customers	$ 1,056	1,044
Percent Change (as a percent)	1.20%
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | U.S.
Sales by segment of business
Sales to customers	$ 765	713
Percent Change (as a percent)	7.20%
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | International
Sales by segment of business
Sales to customers	$ 292	331
Percent Change (as a percent)	(11.80%)
Innovative Medicine | Neuroscience | SPRAVATO
Sales by segment of business
Sales to customers	$ 225	131
Percent Change (as a percent)	72.20%
Innovative Medicine | Neuroscience | SPRAVATO | U.S.
Sales by segment of business
Sales to customers	$ 191	111
Percent Change (as a percent)	71.50%
Innovative Medicine | Neuroscience | SPRAVATO | International
Sales by segment of business
Sales to customers	$ 34	20
Percent Change (as a percent)	76.10%
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE
Sales by segment of business
Sales to customers	$ 345	423
Percent Change (as a percent)	(18.50%)
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE | U.S.
Sales by segment of business
Sales to customers	$ 58	84
Percent Change (as a percent)	(31.10%)
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE | International
Sales by segment of business
Sales to customers	$ 287	339
Percent Change (as a percent)	(15.50%)
Innovative Medicine | Oncology
Sales by segment of business
Sales to customers	$ 4,814	4,112
Percent Change (as a percent)	17.10%
Innovative Medicine | Oncology | U.S.
Sales by segment of business
Sales to customers	$ 2,383	1,889
Percent Change (as a percent)	26.20%
Innovative Medicine | Oncology | International
Sales by segment of business
Sales to customers	$ 2,430	2,223
Percent Change (as a percent)	9.30%
Innovative Medicine | Oncology | CARVYKTI
Sales by segment of business
Sales to customers	$ 157	72
Innovative Medicine | Oncology | CARVYKTI | U.S.
Sales by segment of business
Sales to customers	$ 140	70
Percent Change (as a percent)	99.80%
Innovative Medicine | Oncology | CARVYKTI | International
Sales by segment of business
Sales to customers	$ 16	2
Innovative Medicine | Oncology | DARZALEX
Sales by segment of business
Sales to customers	$ 2,692	2,264
Percent Change (as a percent)	18.90%
Innovative Medicine | Oncology | DARZALEX | U.S.
Sales by segment of business
Sales to customers	$ 1,464	1,191
Percent Change (as a percent)	22.90%
Innovative Medicine | Oncology | DARZALEX | International
Sales by segment of business
Sales to customers	$ 1,228	1,072
Percent Change (as a percent)	14.50%
Innovative Medicine | Oncology | ERLEADA
Sales by segment of business
Sales to customers	$ 689	542
Percent Change (as a percent)	27%
Innovative Medicine | Oncology | ERLEADA | U.S.
Sales by segment of business
Sales to customers	$ 285	249
Percent Change (as a percent)	14.10%
Innovative Medicine | Oncology | ERLEADA | International
Sales by segment of business
Sales to customers	$ 404	293
Percent Change (as a percent)	38%
Innovative Medicine | Oncology | IMBRUVICA
Sales by segment of business
Sales to customers	$ 784	827
Percent Change (as a percent)	(5.20%)
Innovative Medicine | Oncology | IMBRUVICA | U.S.
Sales by segment of business
Sales to customers	$ 265	270
Percent Change (as a percent)	(1.50%)
Innovative Medicine | Oncology | IMBRUVICA | International
Sales by segment of business
Sales to customers	$ 518	557
Percent Change (as a percent)	(7.00%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate
Sales by segment of business
Sales to customers	$ 181	245
Percent Change (as a percent)	(25.90%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate | U.S.
Sales by segment of business
Sales to customers	$ 9	16
Percent Change (as a percent)	(41.30%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate | International
Sales by segment of business
Sales to customers	$ 172	229
Percent Change (as a percent)	(24.80%)
Innovative Medicine | Oncology | OTHER ONCOLOGY
Sales by segment of business
Sales to customers	$ 178	99
Percent Change (as a percent)	80.20%
Innovative Medicine | Oncology | OTHER ONCOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 119	35
Innovative Medicine | Oncology | OTHER ONCOLOGY | International
Sales by segment of business
Sales to customers	$ 60	64
Percent Change (as a percent)	(6.10%)
Innovative Medicine | Oncology | Tecvayli
Sales by segment of business
Sales to customers	$ 133	63
Innovative Medicine | Oncology | Tecvayli | U.S.
Sales by segment of business
Sales to customers	$ 101	57
Percent Change (as a percent)	76.70%
Innovative Medicine | Oncology | Tecvayli | International
Sales by segment of business
Sales to customers	$ 33	6
Innovative Medicine | Pulmonary Hypertension
Sales by segment of business
Sales to customers	$ 1,049	872
Percent Change (as a percent)	20.20%
Innovative Medicine | Pulmonary Hypertension | U.S.
Sales by segment of business
Sales to customers	$ 766	600
Percent Change (as a percent)	27.50%
Innovative Medicine | Pulmonary Hypertension | International
Sales by segment of business
Sales to customers	$ 283	272
Percent Change (as a percent)	4.10%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT
Sales by segment of business
Sales to customers	$ 524	440
Percent Change (as a percent)	19.10%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT | U.S.
Sales by segment of business
Sales to customers	$ 356	273
Percent Change (as a percent)	30.40%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT | International
Sales by segment of business
Sales to customers	$ 169	167
Percent Change (as a percent)	0.80%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI
Sales by segment of business
Sales to customers	$ 468	362
Percent Change (as a percent)	29.20%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI | U.S.
Sales by segment of business
Sales to customers	$ 392	304
Percent Change (as a percent)	29%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI | International
Sales by segment of business
Sales to customers	$ 76	58
Percent Change (as a percent)	30.70%
Innovative Medicine | Pulmonary Hypertension | Other
Sales by segment of business
Sales to customers	$ 56	70
Percent Change (as a percent)	(19.50%)
Innovative Medicine | Pulmonary Hypertension | Other | U.S.
Sales by segment of business
Sales to customers	$ 18	23
Percent Change (as a percent)	(24.60%)
Innovative Medicine | Pulmonary Hypertension | Other | International
Sales by segment of business
Sales to customers	$ 39	47
Percent Change (as a percent)	(16.90%)
Innovative Medicine | Cardiovascular / Metabolism / Other
Sales by segment of business
Sales to customers	$ 829	927
Percent Change (as a percent)	(10.60%)
Innovative Medicine | Cardiovascular / Metabolism / Other | U.S.
Sales by segment of business
Sales to customers	$ 631	715
Percent Change (as a percent)	(11.70%)
Innovative Medicine | Cardiovascular / Metabolism / Other | International
Sales by segment of business
Sales to customers	$ 197	212
Percent Change (as a percent)	(7.00%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other
Sales by segment of business
Sales to customers	$ 311	349
Percent Change (as a percent)	(11.00%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other | U.S.
Sales by segment of business
Sales to customers	$ 114	137
Percent Change (as a percent)	(17.10%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other | International
Sales by segment of business
Sales to customers	$ 197	212
Percent Change (as a percent)	(7.00%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO
Sales by segment of business
Sales to customers	$ 518	578
Percent Change (as a percent)	(10.40%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO | U.S.
Sales by segment of business
Sales to customers	$ 518	578
Percent Change (as a percent)	(10.40%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO | International
Sales by segment of business
Sales to customers	$ 0	$ 0
Percent Change (as a percent)	0%

Segments of Business and Geog_5

Segments of Business and Geographic Areas - Operating Profit by Segment of Business (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Segment Reporting Information [Line Items]
Worldwide income (loss) before tax	$ 3,714	$ (1,287)
Percent Change
Restructuring charges	$ 164	130
Baby Powder | Talc
Segment Reporting Information [Line Items]
Loss contingency, loss in period	2,700	6,900
Innovative Medicine
Segment Reporting Information [Line Items]
Restructuring charges	100	100
Operating Segments
Segment Reporting Information [Line Items]
Total segment operating income	$ 6,489	5,811
Percent Change	11.70%
Restructuring charges	$ 171
Operating Segments | Innovative Medicine
Segment Reporting Information [Line Items]
Total segment operating income	$ 4,969	4,402
Percent Change	12.90%
Amortization	$ 700	700
Restructuring charges	144
Other cost of operating revenue		400
Operating Segments | MedTech
Segment Reporting Information [Line Items]
Total segment operating income	$ 1,520	1,409
Percent Change	7.90%
Amortization	$ 400	400
Restructuring charges	27
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total segment operating income	$ 2,775	$ 7,098

Segments of Business and Geog_6

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
	Mar. 31, 2024	Apr. 02, 2023
Sales by geographic area
Sales	$ 21,383	$ 20,894
Percent Change	2.30%
United States
Sales by geographic area
Sales	$ 11,620	10,782
Percent Change	7.80%
Europe
Sales by geographic area
Sales	$ 5,163	5,590
Percent Change	(7.60%)
Western Hemisphere, excluding U.S.
Sales by geographic area
Sales	$ 1,194	1,076
Percent Change	11%
Asia-Pacific, Africa
Sales by geographic area
Sales	$ 3,406	$ 3,446
Percent Change	(1.10%)

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 26, 2024	Mar. 31, 2024	Apr. 02, 2023
Business Acquisition [Line Items]
Payments to acquire businesses		$ 1,811	$ 0
Goodwill, related to acquisitions		290
Proceeds from sale of business		$ 200
Shockwave Medical, Inc. | Scenario, Forecast
Business Acquisition [Line Items]
Share price (in dollars per share)	$ 335
Price of acquisition, expected	$ 13,100
Ambrx
Business Acquisition [Line Items]
Share price (in dollars per share)		$ 28
Consideration transferred		$ 2,000
Payments to acquire businesses		1,800
Assets acquired		2,300
Intangible assets		1,900
Goodwill, related to acquisitions		300
Liabilities assumed		500
Deferred tax liabilities		$ 400
Discount rate		17%
Ambrx | Minimum
Business Acquisition [Line Items]
Probability of success factor		40%
Ambrx | Maximum
Business Acquisition [Line Items]
Probability of success factor		70%

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions

1 Months Ended

3 Months Ended

May 01, 2024 USD ($)

Oct. 31, 2021 entity

Jun. 30, 2021 USD ($)

Jun. 30, 2020 USD ($)

Jan. 31, 2020 USD ($)

Oct. 31, 2019 USD ($)

Jul. 31, 2018 USD ($)

Mar. 31, 2024 USD ($) claim claimant

Dec. 29, 2024

Jan. 02, 2022 USD ($)

Sep. 30, 2021 cases

May 31, 2021 cases claimant

Legal Proceeding (Textuals)

Number of new entities created | entity

3

Judicial Ruling

Legal Proceeding (Textuals)

Damages awarded

$ 6.8

$ 8,000

Opioid

Legal Proceeding (Textuals)

Loss contingency accrual

$ 5,000

Number of pending claims | claim

35

Product liability contingency, number of claimants | claimant

3,500

Loss contingency accrual, payment percentage

60%

Pending claims, number, remaining | claim

435

Loss contingency pending claims, number, additional | claim

4

Opioid | Scenario, Forecast

Legal Proceeding (Textuals)

Loss contingency accrual, payment percentage

75%

Physiomesh

Legal Proceeding (Textuals)

Product liability contingency, number of claimants | claimant

230

Physiomesh | Pending Litigation

Legal Proceeding (Textuals)

Number of pending claims | cases

3,600

Product liability contingency, number of claimants | claimant

4,300

Number of claims within settlement agreement | cases

3,729

Ingham v. Johnson & Johnson

Legal Proceeding (Textuals)

Damages awarded

$ 2,100

$ 4,700

Damages paid

$ 2,500

DePuy ASR U.S. | Settled Litigation

Legal Proceeding (Textuals)

Number of patients in settlement | claimant

10,000

Talc

Legal Proceeding (Textuals)

Incremental charges

$ 2,700

Loss contingency accrual

11,000

Loss contingency accrual, nominal value

$ 13,700

Talc | Subsequent Event

Legal Proceeding (Textuals)

Litigation contingency

$ 6,475

Payment period

25 years

Damages sought, nominal value

$ 8,400

Bankruptcy loss contingency, discount rate

4.40%

Total claims against company, percent

99.75%

Mesothelioma and State Claims | Subsequent Event

Legal Proceeding (Textuals)

Claims settled, percent

95%

Legal Proceedings - Product Lia

Legal Proceedings - Product Liability (Details)	Mar. 31, 2024 claimant
Talc
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	61,490
ASR
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	160
Pinnacle Acetabular Cup System
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	920
Pelvic Meshes
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	6,440
Physiomesh
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	230
Risperdal
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	50
Elmiron
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	2,150

Kenvue Separation - Net Earning

Kenvue Separation - Net Earnings from Discontinued Operation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Discontinued Operations and Disposal Groups [Abstract]
Sales to customers	$ 3,852
Cost of products sold		$ 1,708
Gross profit		2,144
Selling, marketing and administrative expenses		1,232
Research and development expense		108
Interest Income		(37)
Interest expense, net of portion capitalized		3
Other (income) expense, net		288
Earnings from Discontinued Operations Before Provision for Taxes on Income		550
Provision for taxes on income		127
Net earnings from Discontinued Operations		$ 423

Kenvue Separation - Depreciatio

Kenvue Separation - Depreciation and Amortization of Discontinued Operation (Details) $ in Millions	3 Months Ended
	Apr. 02, 2023 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and Amortization	$ 153
Capital expenditures	$ 47

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 164	$ 130
R&D Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	144	$ 100
Restructuring charges recorded to date	600
Orthopedics Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	27
Restructuring charges recorded to date	300
Orthopedics Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	700
Orthopedics Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	$ 800

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 164	$ 130
Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	171
Innovative Medicine
Restructuring Cost and Reserve [Line Items]
Restructuring charges	100	$ 100
Innovative Medicine | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	144
MEDTECH | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	27
MEDTECH | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	20
MEDTECH | Costs of Goods and Services Sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7