Johnson & Johnson (JNJ) 10-Q 23 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 29, 2024	Oct. 16, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 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		2,407,622,972
Entity Central Index Key	0000200406
Current Fiscal Year End Date	--12-29
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock, Par Value $1.00
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, Par Value $1.00
Trading Symbol	JNJ
Security Exchange Name	NYSE
1.150% Notes Due November 2028
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
3.20% Notes Due November 2032
Entity Information [Line Items]
Title of 12(b) Security	3.20% Notes Due November 2032
Trading Symbol	JNJ32
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
3.350% Notes Due November 2036
Entity Information [Line Items]
Title of 12(b) Security	3.350% Notes Due November 2036
Trading Symbol	JNJ36A
Security Exchange Name	NYSE
3.550% Notes Due November 2044
Entity Information [Line Items]
Title of 12(b) Security	3.550% Notes Due November 2044
Trading Symbol	JNJ44
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents (Note 4)	$ 19,980	$ 21,859
Marketable securities	317	1,068
Accounts receivable, trade, less allowances $153 (2023, $166)	16,174	14,873
Inventories (Note 2)	12,603	11,181
Prepaid expenses and other	4,175	4,514
Total current assets	53,249	53,495
Property, plant and equipment at cost	49,274	47,776
Less: accumulated depreciation	(28,795)	(27,878)
Property, plant and equipment, net	20,479	19,898
Intangible assets, net (Note 3)	39,490	34,175
Goodwill (Note 3)	44,799	36,558
Deferred taxes on income (Note 5)	9,349	9,279
Other assets	10,921	14,153
Total assets	178,287	167,558
Current liabilities:
Loans and notes payable	4,462	3,451
Accounts payable	8,954	9,632
Accrued liabilities	11,450	10,212
Accrued rebates, returns and promotions	18,439	16,001
Accrued compensation and employee related obligations	3,620	3,993
Accrued taxes on income (Note 5)	4,834	2,993
Total current liabilities	51,759	46,282
Long-term debt (Note 4)	31,289	25,881
Deferred taxes on income (Note 5)	2,952	3,193
Employee related obligations (Note 6)	6,852	7,149
Long-term taxes payable (Note 5)	354	2,881
Other liabilities	14,923	13,398
Total liabilities	108,129	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)	(12,522)	(12,527)
Retained earnings and Additional paid-in capital	155,179	153,843
Less: common stock held in treasury, at cost (712,545,000 and 712,765,000 shares)	75,619	75,662
Total shareholders’ equity	70,158	68,774
Total shareholders’ equity	70,158	68,774
Total liabilities and shareholders’ equity	$ 178,287	$ 167,558

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023
Current assets:
Allowances for doubtful accounts	$ 153	$ 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)	712,545,000	712,765,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Income Statement [Abstract]
Sales to customers (Note 9)	$ 22,471	$ 21,351	$ 66,301	$ 63,764
Sales to customers percent to sales	100%	100%	100%	100%
Cost of products sold	$ 6,963	$ 6,606	$ 20,343	$ 19,755
Cost of products sold percent to sales	31%	30.90%	30.70%	31%
Gross profit	$ 15,508	$ 14,745	$ 45,958	$ 44,009
Gross Profit Percent To Sales	69%	69.10%	69.30%	69%
Selling, marketing and administrative expenses	$ 5,478	$ 5,400	$ 16,416	$ 15,702
Selling marketing and administrative expenses percent to sales	24.30%	25.30%	24.80%	24.60%
Research and development expense	$ 4,952	$ 3,447	$ 11,934	$ 10,605
Research and development expense percent to sales	22%	16.20%	18%	16.60%
In-process research and development impairments	$ 0	$ 206	$ 194	$ 255
In-process research and development percent to sales	0%	1%	0.30%	0.40%
Interest income	$ (292)	$ (374)	$ (1,051)	$ (898)
Interest income percent to sales	(1.30%)	(1.70%)	(1.60%)	(1.40%)
Interest expense, net of portion capitalized	$ 193	$ 192	$ 618	$ 621
Interest expense, net of portion capitalized percent to sales	0.90%	0.90%	0.90%	1%
Other (income) expense, net	$ 1,798	$ 499	$ 4,855	$ 7,055
Other (income) expense, net percent to sales	8%	2.30%	7.30%	11.10%
Restructuring (Note 12)	$ 41	$ 158	$ 192	$ 433
Restructuring charge percent to sales	0.20%	0.70%	0.30%	0.60%
Earnings before provision for taxes on income	$ 3,338	$ 5,217	$ 12,800	$ 10,236
Earnings before provision for taxes on income percent to sales	14.90%	24.40%	19.30%	16.10%
Provision for taxes on income (Note 5)	$ 644	$ 908	$ 2,165	$ 1,042
Provision for taxes on income percent to sales	2.90%	4.20%	3.30%	1.70%
Net earnings from continuing operations	$ 2,694	$ 4,309	$ 10,635	$ 9,194
Net earnings from continuing operations percent of sales	12%	20.20%	16%	14.40%
Net earnings from discontinued operations, net of tax (Note 13)	$ 0	$ 21,719	$ 0	$ 21,910
Net earnings	$ 2,694	$ 26,028	$ 10,635	$ 31,104
NET EARNINGS PER SHARE
Continuing operations - basic (in dollars per share)	$ 1.12	$ 1.71	$ 4.42	$ 3.57
Discontinued operations - basic (in dollars per share)	0	8.61	0	8.51
Total net earnings per share - basic (in dollars per share)	1.12	10.32	4.42	12.08
Continuing operations - diluted (in dollars per share)	1.11	1.69	4.38	3.53
Discontinued operations - diluted (in dollars per share)	0	8.52	0	8.42
Total net earnings per share - diluted (in dollars per share)	$ 1.11	$ 10.21	$ 4.38	$ 11.95
Avg. shares outstanding
Basic (shares)	2,407.2	2,522.9	2,407.4	2,575.6
Diluted (shares)	2,427.9	2,549.7	2,429.5	2,603.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 2,694	$ 26,028	$ 10,635	$ 31,104
Other comprehensive income (loss), net of tax
Foreign currency translation	(1,537)	448	197	(448)
Securities:
Unrealized holding gain (loss) arising during period	1	4	2	25
Net change	1	4	2	25
Employee benefit plans:
Prior service cost amortization during period	(40)	(36)	(90)	(107)
Gain (loss) amortization during period	49	(34)	160	(101)
Consumer settlement/curtailment	0	33	0	33
Net change	9	(37)	70	(175)
Derivatives & hedges:
Unrealized gain (loss) arising during period	405	(513)	313	(80)
Reclassifications to earnings	(147)	(180)	(577)	(316)
Net change	258	(693)	(264)	(396)
Other comprehensive income (loss)	(1,269)	(278)	5	(994)
Comprehensive income	$ 1,425	$ 25,750	$ 10,640	$ 30,110

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment income (loss)	$ (735)	$ 335	$ (51)	$ 69
Securities income (loss)	1	1	1	7
Employee benefit plans income (loss)	1	(8)	(40)	(51)
Derivatives & hedges income (loss)	$ 69	$ (185)	$ (70)	$ (105)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Retained Earnings and Additional Paid-in Capital	Accumulated Other Comprehensive Income (AOCI)	Common Stock Issued Amount	Treasury Stock Amount	Non-Controlling interest (NCI)
Beginning balance at Jan. 01, 2023	$ 76,804	$ 128,345	$ (12,967)	$ 3,120	$ (41,694)	$ 0
Net earnings	31,104	31,104
Cash dividends paid	(8,905)	(8,905)
Employee compensation and stock option plans	1,892	(435)			2,327
Repurchase of common stock	(4,838)				(4,838)
Other	(25)				(25)
Kenvue Separation / IPO	(23,810)	2,427	5,181		(31,418)	0
Other comprehensive income (loss), net of tax	(994)		(994)
Ending balance at Oct. 01, 2023	71,228	152,536	(8,780)	3,120	(75,648)	0
Beginning balance at Jul. 02, 2023	76,409	129,381	(13,135)	3,120	(44,217)	1,260
Net earnings	26,028	26,028
Cash dividends paid	(2,871)	(2,871)
Employee compensation and stock option plans	948	41			907
Repurchase of common stock	(920)				(920)
Kenvue Separation / IPO	(28,088)	(43)	4,633		(31,418)	(1,260)
Other comprehensive income (loss), net of tax	(278)		(278)
Ending balance at Oct. 01, 2023	71,228	152,536	(8,780)	3,120	(75,648)	$ 0
Beginning balance at Dec. 31, 2023	68,774	153,843	(12,527)	3,120	(75,662)
Net earnings	10,635	10,635
Cash dividends paid	(8,839)	(8,839)
Employee compensation and stock option plans	1,732	(460)			2,192
Repurchase of common stock	(2,150)				(2,150)
Other	1				1
Other comprehensive income (loss), net of tax	5		5
Ending balance at Sep. 29, 2024	70,158	155,179	(12,522)	3,120	(75,619)
Beginning balance at Jun. 30, 2024	71,538	155,360	(11,253)	3,120	(75,689)
Net earnings	2,694	2,694
Cash dividends paid	(2,985)	(2,985)
Employee compensation and stock option plans	717	110			607
Repurchase of common stock	(539)				(539)
Other	2				2
Other comprehensive income (loss), net of tax	(1,269)		(1,269)
Ending balance at Sep. 29, 2024	$ 70,158	$ 155,179	$ (12,522)	$ 3,120	$ (75,619)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends paid (in dollars per share)	$ 1.24	$ 1.19	$ 3.67	$ 3.51

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 10,635	$ 31,104
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property and intangibles	5,443	5,643
Stock based compensation	938	984
Asset write-downs	379	820
Charge for purchase of in-process research and development assets	1,252	0
(Gain) on Kenvue Separation	0	(20,984)
Net gain on sale of assets/businesses	(225)	(117)
Deferred tax provision	(2,167)	(1,782)
Credit losses and accounts receivable allowances	(11)	0
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
Increase in accounts receivable	(1,259)	(851)
Increase in inventories	(1,038)	(1,447)
Increase in accounts payable and accrued liabilities	2,713	664
Decrease/(Increase) in other current and non-current assets	949	(1,366)
(Decrease)/Increase in other current and non-current liabilities	(326)	2,260
Net cash flows from operating activities	17,283	14,928
Cash flows from investing activities
Additions to property, plant and equipment	(2,812)	(2,954)
Proceeds from the disposal of assets/businesses, net (Note 10)	623	237
Acquisitions, net of cash acquired (Note 10)	(15,145)	0
Purchases of in-process research and development assets (Note 10)	(1,250)	0
Purchases of investments	(1,464)	(9,981)
Sales of investments	2,172	15,787
Credit support agreements activity, net	699	(917)
Other (including capitalized licenses and milestones)	(102)	(92)
Net cash (used by) / from investing activities	(17,279)	2,080
Cash flows from financing activities
Dividends to shareholders	(8,839)	(8,905)
Repurchase of common stock	(2,150)	(4,838)
Proceeds from short-term debt, net	11,984	12,462
Repayment of short-term debt, net	(8,354)	(21,645)
Proceeds from long-term debt, net of issuance costs	6,660	0
Repayment of long-term debt	(804)	(502)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net	714	907
Credit support agreements activity, net	5	62
Settlement of convertible debt acquired from Shockwave	(970)	0
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation	0	8,047
Proceeds from Kenvue initial public offering	0	4,241
Cash transferred to Kenvue at separation	0	(1,114)
Other	(38)	115
Net cash used by financing activities	(1,792)	(11,170)
Effect of exchange rate changes on cash and cash equivalents	(91)	(237)
(Decrease) / Increase in cash and cash equivalents	(1,879)	5,601
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	19,980	19,728
Cash and cash equivalents from discontinued operations, end of period	0	0
Cash and cash equivalents, end of period	19,980	19,728
Acquisitions (Note 10)
Fair value of assets acquired	16,092	0
Fair value of liabilities assumed	(1,634)	0
Net cash paid for acquisitions	$ 14,458	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 29, 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 nine months in 2024. Recently issued accounting standards Not adopted as of September 29, 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. While this accounting standard will increase disclosures, it will not have a material impact on the Company’s Consolidated Financial Statement results. 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. While this accounting standard will increase disclosures, it will not have a material impact on the Company’s Consolidated Financial Statement results. There were no new material accounting standards issued in the fiscal third 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	9 Months Ended
	Sep. 29, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories (Dollars in Millions) September 29, 2024 December 31, 2023 Raw materials and supplies $2,545 2,355 Goods in process 2,989 1,952 Finished goods 7,069 6,874 Total inventories $12,603 11,181

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 29, 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) September 29, 2024 December 31, 2023 Intangible assets with definite lives: Patents and trademarks — gross $44,926 40,417 Less accumulated amortization (26,699) (24,808) Patents and trademarks — net 18,227 15,609 Customer relationships and other intangibles — gross 20,715 20,322 Less accumulated amortization (13,506) (12,685) Customer relationships and other intangibles — net (1) 7,209 7,637 Intangible assets with indefinite lives: Trademarks 1,704 1,714 Purchased in-process research and development 12,350 9,215 Total intangible assets with indefinite lives 14,054 10,929 Total intangible assets — net $39,490 34,175 (1) The majority is comprised of customer relationships Goodwill as of September 29, 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 620 7,567 8,187 Goodwill, related to divestitures — (56) (56) Currency translation/Other 85 25 110 Goodwill at September 29, 2024 $11,112 33,687 44,799 The weighted average amortization period for patents and trademarks is approximately 12 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 $1.2 billion and $1.1 billion for the fiscal third quarters ended September 29, 2024 and October 1, 2023, respectively. The amortization expense of amortizable intangible assets included in the cost of products sold was $3.4 billion for both the fiscal nine months ended September 29, 2024 and October 1, 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 $4,500 3,900 3,300 2,700 2,000 See Note 10 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 29, 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 September 29, 2024, the cumulative amount of cash collateral paid by the Company under the CSA amounted to $3.3 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 September 29, 2024, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $46.9 billion, $40.4 billion and $9.0 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 2044 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 September 29, 2024, the balance of deferred net loss on derivatives included in accumulated other comprehensive income was $641 million after-tax. For additional information, see the Consolidated Statements of Comprehensive Income and Note 7. The Company expects that substantially all of the amounts related to forward foreign exchange contracts will be reclassified into earnings over the next 12 months as a result of transactions that are expected to occur over that period. The maximum length of time over which the Company is hedging transaction exposure is 18 months, excluding interest rate contracts and net investment hedge contracts. The amount ultimately realized in earnings may differ as foreign exchange rates change. Realized gains and losses are ultimately determined by actual exchange rates at maturity of the derivative. The following table is a summary of the activity related to derivatives and hedges for the fiscal third quarters ended September 29, 2024 and October 1, 2023, net of tax: September 29, 2024 October 1, 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 $— — — 343 — — — — (61) — Derivatives designated as hedging instruments — — — (343) — — — — 61 — 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 — — — 35 — — — — 31 — Amount of gain or (loss) recognized in AOCI — — — 35 — — — — 31 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 1 44 — — (4) 6 102 (5) — 4 Amount of gain or (loss) recognized in AOCI — (30) (21) — 1 (11) (166) 49 — 38 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 72 — — — — 41 — Amount of gain or (loss) recognized in AOCI $— — — 420 — — — — (454) — The following table is a summary of the activity related to derivatives and hedges for the fiscal nine months ended September 29, 2024 and October 1, 2023, net of tax: September 29, 2024 October 1, 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 $— — — 298 — — — — (67) — Derivatives designated as hedging instruments — — — (298) — — — — 67 — 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 — — — 102 — — — — 98 — Amount of gain or (loss) recognized in AOCI — — — 102 — — — — 98 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 1 303 12 — (3) 3 12 (30) — 9 Amount of gain or (loss) recognized in AOCI (1) 17 12 — 6 (1) 230 20 — 42 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 162 — — — — 223 — Amount of gain or (loss) recognized in AOCI $— — — 177 — — — — (469) — As of September 29, 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) September 29, 2024 December 31, 2023 September 29, 2024 December 31, 2023 Long-term Debt $8,202 8,862 (829) (1,216) The following table is the effect of derivatives not designated as hedging instruments for the fiscal third quarters ended 2024 and 2023: Gain/(Loss) Gain/(Loss) (Dollars in Millions) Location of Fiscal Third Quarter Ended Fiscal Nine Months Ended Derivatives Not Designated as Hedging Instruments September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Foreign Exchange Contracts Other (income) expense $(21) — 24 2 The following table is the effect of net investment hedges for the fiscal third quarters ended in 2024 and 2023: Gain/(Loss) Recognized In Accumulated OCI Location of Gain or (Loss) Gain/(Loss) Reclassified From (Dollars in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Debt $(199) 101 Interest (income) expense — — Cross Currency interest rate swaps $(251) 214 Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal nine months ended in 2024 and 2023: Gain/(Loss) Location of Gain or (Loss) Gain/(Loss) Reclassified From (Dollars in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Debt $(69) 35 Interest (income) expense — — Cross Currency interest rate swaps $569 880 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 September 29, 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 36 (4,004) 505 505 Equity Investments without readily determinable value $696 2 74 772 772 (1) Recorded in Other (income)/expense, net (2) Other includes impact of currency * The December 31, 2023 balance includes the 9.5% remaining stake in Kenvue. A debt-for-equity exchange was completed in the fiscal second quarter of 2024. On May 15, 2024, the Company issued $3.6 billion aggregate principal amount of commercial paper and received $3.6 billion of net cash proceeds to be used for general corporate purposes. On May 17, 2024, the Company completed a Debt-for-Equity Exchange of its remaining 182,329,550 shares of Kenvue Common Stock for the outstanding Commercial Paper. Upon completion of the Debt-for-Equity Exchange, the Commercial Paper was satisfied and discharged, and the Company no longer owns any shares of Kenvue Common Stock. This exchange resulted in a loss of approximately $0.4 billion recorded in Other (income) expense. 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 September 29, 2024 and December 31, 2023 were as follows: September 29, 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 $— 472 — 472 539 Interest rate contracts (2) — 985 — 985 988 Total — 1,457 — 1,457 1,527 Liabilities: Forward foreign exchange contracts — 461 — 461 624 Interest rate contracts (2) — 4,487 — 4,487 5,338 Total — 4,948 — 4,948 5,962 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 34 — 34 64 Liabilities: Forward foreign exchange contracts — 32 — 32 75 Other Investments: Equity investments (3) 505 — — 505 4,473 Debt securities (4) — 3,818 — 3,818 8,874 Other Liabilities Contingent consideration (5) $— — 1,222 1,222 1,092 Gross to Net Derivative Reconciliation September 29, 2024 December 31, 2023 (Dollars in Millions) Total Gross Assets $1,491 1,591 Credit Support Agreement (CSA) (1,482) (1,575) Total Net Asset 9 16 Total Gross Liabilities 4,980 6,037 Credit Support Agreement (CSA) (4,808) (5,604) Total Net Liabilities $172 433 Summarized information about changes in liabilities for contingent consideration for the fiscal third quarters ended September 29, 2024 and October 1, 2023 is as follows: September 29, 2024 October 1, 2023 (Dollars in Millions) Beginning Balance $1,092 1,120 Changes in estimated fair value (6) 93 62 Additions 112 — Payments (75) (4) Ending Balance $1,222 1,178 (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 September 29, 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 September 29, 2024 comprised: (Dollars in Millions) Carrying Amount Unrealized Gain Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $3,328 — 3,328 3,328 — U.S. Gov't securities — — — — — Non-U.S. sovereign securities 267 — 267 149 118 U.S. reverse repurchase agreements 6,853 — 6,853 6,853 — Corporate debt securities (1) — — — — — Money market funds 4,848 — 4,848 4,848 — Time deposits (1) 1,183 — 1,183 1,183 — Subtotal 16,479 — 16,479 16,361 118 U.S. Gov’t securities 3,596 — 3,596 3,581 15 U.S. Gov’t Agencies 6 — 6 — 6 Other sovereign securities 2 — 2 — 2 Corporate debt securities 214 — 214 38 176 Subtotal available for sale debt (2) $3,818 — 3,818 3,619 199 Total cash, cash equivalents and current marketable securities $20,297 — 20,297 19,980 317 (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 September 29, 2024 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $3,805 3,805 Due after one year through five years 13 13 Due after five years through ten years — — Total debt securities $3,818 3,818 Financial instruments not measured at fair value The following financial liabilities are held at carrying amount on the consolidated balance sheet as of September 29, 2024: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $4,462 4,429 Non-Current Debt 2.46% Notes due 2026 1,998 1,962 2.95% Notes due 2027 943 984 0.95% Notes due 2027 1,463 1,389 2.90% Notes due 2028 1,497 1,465 1.150% Notes due 2028 (750MM Euro 1.1141) 832 797 4.80% Notes due 2029 (1) 1,146 1,198 6.95% Notes due 2029 298 344 1.30% Notes due 2030 1,671 1,522 4.90% Notes due 2031 (1) 1,146 1,215 3.20% Notes due 2032 (700MM Euro 1.1141) (1) 776 805 4.95% Notes due 2033 499 536 4.375% Notes due 2033 854 879 4.95% Notes due 2034 (1) 846 904 1.650% Notes due 2035 (1.5B Euro 1.1141) 1,660 1,492 3.35% Notes due 2036 (800MM Euro 1.1141) (1) 886 914 3.587% Notes due 2036 902 936 5.95% Notes due 2037 994 1,157 3.625% Notes due 2037 1,395 1,393 3.40% Notes due 2038 993 897 5.85% Notes due 2038 697 804 4.50% Notes due 2040 541 553 2.10% Notes due 2040 885 726 4.85% Notes due 2041 297 313 4.50% Notes due 2043 496 501 3.55% Notes due 2044 (1.0B Euro 1.1141) (1) 1,104 1,140 3.73% Notes due 2046 1,978 1,747 3.75% Notes due 2047 868 873 3.50% Notes due 2048 744 628 2.25% Notes due 2050 859 648 5.25% Notes due 2054 (1) 843 921 2.45% Notes due 2060 1,107 782 Other 71 71 Total Non-Current Debt $31,289 30,496 (1) In the fiscal second quarter of 2024, the Company issued senior unsecured notes for a total of $6.7 billion. The net proceeds from this offering were used to fund the Shockwave acquisition which closed on May 31, 2024, and for general corporate purposes. The weighted average effective interest rate on non-current debt is 3.35%. 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	9 Months Ended
	Sep. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income taxes The worldwide effective income tax rates for the fiscal nine months of 2024 and 2023 were 16.9% and 10.2%, respectively. The change in the consolidated tax rate as compared to the prior year is primarily due to charges of approximately $5.1 billion in the fiscal nine months of 2024 and approximately $7.0 billion in the fiscal nine months of 2023, both related to talc matters. 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). Further, the Company acquired Yellow Jersey Therapeutics AG (Yellow Jersey), a demerged subsidiary of Numab Therapeutics AG, to secure the global rights to NM26, a bispecific antibody compound and recorded a related $1.25 billion non-tax-deductible expense associated with the acquisition in the fiscal third quarter of 2024 (for further information see Note 10 to the Consolidated Financial Statement). Additionally in the fiscal nine months of 2024, the effective tax rate was unfavorably impacted by legislative changes that went into effect for Pillar Two in some of the Company's foreign jurisdictions which were partially offset by an increase in available U.S. foreign tax credits. The Company incurred tax audit expenses in the fiscal second quarter of 2024 related to multi-year transfer pricing agreements with the IRS and certain other foreign jurisdictions. As of September 29, 2024, the Company had approximately $2.4 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 (IRS) has completed its audit for the tax years through 2016 and has commenced the audit for tax years 2017 through 2020. The Company currently expects completion of multi-year transfer pricing agreements with the IRS and certain other foreign jurisdictions in the next 12 months. As a result, the Company has classified approximately $0.4 billion of unrecognized tax benefits and associated interest as a current liability on the “Accrued taxes on Income” line of the Consolidated Balance Sheet as of the end of the third fiscal quarter of 2024 in anticipation of final settlement. 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	9 Months Ended
	Sep. 29, 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 Third Quarter Ended Fiscal Nine Months Ended Retirement Plans Other Benefit Plans Retirement Plans Other Benefit Plans (Dollars in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Service cost $225 209 69 61 671 634 207 198 Interest cost 351 361 53 51 1,054 1,084 157 160 Expected return on plan assets (643) (680) (2) (1) (1,924) (2,042) (5) (4) Amortization of prior service cost/(credit) (46) (47) — — (138) (139) (1) (1) Recognized actuarial (gains)/losses 43 (50) 13 4 130 (150) 39 17 Curtailments and settlements 6 109 — (4) (2) 109 — (4) Net periodic benefit cost/(credit) $(64) (98) 133 111 (209) (504) 397 366 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 third quarter and fiscal nine months 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 nine months ended September 29, 2024, the Company contributed $94 million and $10 million to its U.S. and international retirement plans, respectively. The Company plans to continue to fund its U.S. defined benefit plans to comply with the Pension Protection Act of 2006. International plans are funded in accordance with local regulations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 29, 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 197 2 70 (264) 5 September 29, 2024 (9,952) 1 (1,930) (641) (12,522) 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	9 Months Ended
	Sep. 29, 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 Third Quarter Ended Fiscal Nine Months Ended (Shares in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Basic net earnings per share from continuing operations $1.12 1.71 4.42 3.57 Basic net earnings per share from discontinued operations — 8.61 — 8.51 Total net earnings per share - basic 1.12 10.32 4.42 12.08 Average shares outstanding — basic 2,407.2 2,522.9 2,407.4 2,575.6 Potential shares exercisable under stock option plans 89.1 119.2 78.8 96.9 Less: shares which could be repurchased under treasury stock method (68.4) (92.4) (56.7) (69.1) Average shares outstanding — diluted 2,427.9 2,549.7 2,429.5 2,603.4 Diluted net earnings per share from continuing operations 1.11 1.69 4.38 3.53 Diluted net earnings per share from discontinued operations — 8.52 — 8.42 Total net earnings per share - diluted $1.11 10.21 4.38 11.95 (Shares in Millions) The diluted net earnings per share calculation excluded the following number of shares related to stock options, as the exercise price of these options was greater than the average market value of the Company’s stock. 43.0 16.4 54.2 42.9

Segments of Business and Geogra

Segments of Business and Geographic Areas	9 Months Ended
	Sep. 29, 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. Sales by segment of business Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change INNOVATIVE MEDICINE Immunology U.S. $3,068 3,193 (3.9) % $8,499 8,506 (0.1) % International 1,552 1,656 (6.2) 5,090 4,951 2.8 Worldwide 4,621 4,849 (4.7) 13,590 13,457 1.0 REMICADE U.S. 281 296 (5.4) 778 849 (8.5) U.S. Exports 27 38 (28.9) 89 112 (20.5) International 112 127 (11.5) 380 449 (15.4) Worldwide 419 461 (9.1) 1,246 1,410 (11.6) SIMPONI / SIMPONI ARIA U.S. 299 310 (3.7) 820 866 (5.3) International 218 319 (31.8) 787 829 (5.1) Worldwide 516 629 (18.0) 1,607 1,695 (5.2) STELARA U.S. 1,770 1,912 (7.5) 5,021 5,180 (3.1) International 906 951 (4.8) 2,991 2,925 2.2 Worldwide 2,676 2,864 (6.6) 8,012 8,105 (1.2) TREMFYA U.S. 691 634 9.1 1,789 1,490 20.1 International 316 258 22.6 932 747 24.7 Worldwide 1,007 891 13.0 2,721 2,237 21.6 OTHER IMMUNOLOGY U.S. 1 2 (45.6) 3 9 (66.8) International 0 0 — 0 0 — Worldwide 1 2 (45.6) 3 9 (66.8) Infectious Diseases U.S. 365 360 1.5 1,023 1,147 (10.8) International 471 500 (5.7) 1,599 2,420 (33.9) Worldwide 836 859 (2.7) 2,622 3,566 (26.5) COVID-19 VACCINE U.S. 0 0 — 0 0 — International 1 41 (97.7) 198 1,073 (81.6) Worldwide 1 41 (97.7) 198 1,073 (81.6) EDURANT / rilpivirine Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change U.S. 8 9 (15.8) 24 26 (10.0) International 323 287 12.3 926 816 13.5 Worldwide 330 297 11.5 950 843 12.7 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 355 345 2.8 990 1,105 (10.5) International 94 102 (6.9) 315 310 1.8 Worldwide 449 447 0.6 1,305 1,415 (7.8) OTHER INFECTIOUS DISEASES U.S. 3 5 (52.2) 10 15 (37.7) International 53 69 (23.2) 160 220 (27.4) Worldwide 55 74 (25.4) 169 235 (28.0) Neuroscience U.S. 1,094 1,036 5.6 3,250 3,043 6.8 International 662 706 (6.2) 2,090 2,296 (8.9) Worldwide 1,755 1,742 0.8 5,340 5,339 0.0 CONCERTA / methylphenidate U.S. 26 57 (55.0) 101 191 (47.5) International 117 133 (11.9) 382 412 (7.3) Worldwide 142 189 (24.8) 482 603 (20.0) INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 780 730 6.8 2,329 2,164 7.6 International 269 299 (10.1) 830 940 (11.7) Worldwide 1,049 1,029 1.9 3,159 3,104 1.8 SPRAVATO U.S. 243 154 56.8 660 409 61.2 International 42 29 44.6 120 74 62.9 Worldwide 284 183 54.9 780 483 61.5 OTHER NEUROSCIENCE U.S. 46 94 (51.4) 161 278 (42.1) International 235 245 (4.4) 759 870 (12.8) Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change Worldwide 281 340 (17.4) 920 1,149 (19.9) Oncology U.S. 2,816 2,219 26.9 7,835 6,177 26.8 International 2,565 2,313 10.9 7,450 6,865 8.5 Worldwide 5,380 4,533 18.7 15,284 13,043 17.2 CARVYKTI U.S. 258 140 84.9 565 324 74.6 International 27 12 * 63 17 * Worldwide 286 152 87.7 629 341 84.3 DARZALEX U.S. 1,684 1,369 23.0 4,789 3,882 23.4 International 1,332 1,130 17.9 3,797 3,312 14.6 Worldwide 3,016 2,499 20.7 8,586 7,194 19.3 ERLEADA U.S. 337 288 17.1 940 778 20.8 International 453 342 32.4 1,275 961 32.6 Worldwide 790 631 25.4 2,215 1,740 27.3 IMBRUVICA U.S. 259 264 (1.9) 770 796 (3.2) International 494 545 (9.2) 1,537 1,681 (8.5) Worldwide 753 808 (6.8) 2,307 2,476 (6.8) TECVAYLI U.S. 105 93 13.5 310 232 34.0 International 30 19 54.2 93 37 * Worldwide 135 112 20.6 403 269 49.6 ZYTIGA / abiraterone acetate U.S. 5 16 (66.0) 25 41 (38.0) International 144 199 (27.1) 470 646 (27.1) Worldwide 150 214 (30.0) 496 686 (27.8) OTHER ONCOLOGY U.S. 168 50 * 435 125 * International 83 67 24.8 214 211 2.0 Worldwide 250 117 * 649 336 93.4 Pulmonary Hypertension U.S. 815 680 20.0 2,324 1,964 18.4 International 287 274 4.5 866 835 3.7 Worldwide 1,102 954 15.6 3,190 2,798 14.0 OPSUMIT U.S. 406 323 25.4 1,135 924 22.8 International 165 166 (0.2) 504 512 (1.6) Worldwide 571 490 16.8 1,639 1,437 14.1 UPTRAVI Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change U.S. 379 336 12.7 1,120 978 14.5 International 80 66 21.8 232 185 25.5 Worldwide 458 402 14.2 1,352 1,163 16.3 OTHER PULMONARY HYPERTENSION U.S. 32 20 54.0 70 61 14.0 International 40 42 (3.9) 129 137 (5.8) Worldwide 72 63 15.0 199 199 0.3 Cardiovascular / Metabolism / Other U.S. 713 763 (6.5) 2,061 2,254 (8.5) International 170 194 (11.9) 543 580 (6.4) Worldwide 884 957 (7.6) 2,605 2,834 (8.1) XARELTO U.S. 592 625 (5.2) 1,697 1,840 (7.8) International — — — — — — Worldwide 592 625 (5.2) 1,697 1,840 (7.8) OTHER U.S. 121 139 (12.2) 364 414 (11.9) International 170 194 (11.9) 543 580 (6.4) Worldwide 292 332 (12.0) 908 994 (8.7) TOTAL INNOVATIVE MEDICINE U.S. 8,871 8,249 7.5 24,993 23,090 8.2 International 5,709 5,644 1.2 17,639 17,947 (1.7) Worldwide 14,580 13,893 4.9 42,632 41,037 3.9 MEDTECH Cardiovascular (1) U.S. 1,148 891 28.6 3,292 2,662 23.6 International 819 667 22.8 2,353 2,019 16.5 Worldwide 1,966 1,558 26.2 5,645 4,681 20.6 ELECTROPHYSIOLOGY U.S. 660 611 7.9 2,057 1,791 14.8 International 619 549 12.7 1,889 1,658 14.0 Worldwide 1,279 1,161 10.2 3,946 3,449 14.4 ABIOMED U.S. 293 254 15.4 905 790 14.5 International 68 57 20.1 207 176 17.7 Worldwide 362 311 16.3 1,112 966 15.1 SHOCKWAVE (2) U.S. 163 — * 240 — * International 66 — * 66 — * Worldwide 229 — * 306 — * OTHER CARDIOVASCULAR (1) U.S. 30 26 16.7 89 81 10.6 Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change International 66 61 7.7 192 186 3.0 Worldwide 96 87 10.4 281 267 5.3 Orthopaedics U.S. 1,359 1,349 0.7 4,229 4,100 3.2 International 832 815 2.0 2,614 2,574 1.5 Worldwide 2,191 2,164 1.2 6,843 6,674 2.5 HIPS U.S. 250 239 4.8 785 730 7.5 International 131 136 (3.6) 435 432 0.6 Worldwide 381 375 1.7 1,220 1,162 5.0 KNEES U.S. 212 207 2.2 684 654 4.5 International 140 131 6.9 463 415 11.5 Worldwide 352 338 4.0 1,147 1,069 7.2 TRAUMA U.S. 497 488 1.8 1,499 1,462 2.5 International 265 253 4.2 786 775 1.4 Worldwide 761 742 2.6 2,285 2,238 2.1 SPINE, SPORTS & OTHER U.S. 400 415 (3.6) 1,262 1,254 0.6 International 296 295 0.4 930 952 (2.3) Worldwide 696 710 (1.9) 2,191 2,205 (0.6) Surgery U.S. 983 994 (1.1) 2,965 2,984 (0.6) International 1,451 1,483 (2.2) 4,373 4,522 (3.3) Worldwide 2,434 2,479 (1.8) 7,338 7,507 (2.2) ADVANCED U.S. 448 455 (1.4) 1,360 1,365 (0.4) International 661 709 (6.8) 1,977 2,139 (7.6) Worldwide 1,109 1,164 (4.7) 3,337 3,504 (4.8) GENERAL U.S. 535 540 (0.9) 1,605 1,619 (0.9) International 791 775 2.1 2,397 2,383 0.6 Worldwide 1,325 1,314 0.8 4,001 4,002 0.0 Vision U.S. 549 512 7.2 1,619 1,599 1.3 International 751 744 0.9 2,224 2,265 (1.8) Worldwide 1,300 1,256 3.5 3,843 3,864 (0.5) CONTACT LENSES / OTHER U.S. 441 399 10.2 1,288 1,252 2.8 Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change International 527 529 (0.3) 1,508 1,568 (3.8) Worldwide 968 928 4.2 2,796 2,820 (0.9) SURGICAL U.S. 108 112 (3.6) 331 346 (4.4) International 225 216 3.9 717 698 2.7 Worldwide 333 328 1.3 1,048 1,044 0.3 TOTAL MEDTECH U.S. 4,038 3,747 7.8 12,105 11,345 6.7 International 3,853 3,711 3.9 11,564 11,382 1.6 Worldwide 7,891 7,458 5.8 23,669 22,727 4.1 WORLDWIDE U.S. 12,909 11,996 7.6 37,098 34,435 7.7 International 9,562 9,355 2.2 29,203 29,329 (0.4) Worldwide $22,471 21,351 5.2 % $66,301 63,764 4.0 % * Percentage greater than 100% or not meaningful (1) Previously referred to as Interventional Solutions (2) Acquired on May 31, 2024 Earnings before provision for taxes by segment Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Innovative Medicine (1) $4,482 4,794 (6.5) % $14,910 14,008 6.4 % MedTech (2) 1,059 1,185 (10.6) 3,668 4,265 (14.0) Segment earnings before provision for taxes 5,541 5,979 (7.3) 18,578 18,273 1.7 Less: Expense not allocated to segments (3) 2,203 762 5,778 8,037 Worldwide income (loss) before tax $3,338 5,217 (36.0) % $12,800 10,236 25.0 % (1) Innovative Medicine includes: • Intangible amortization expense of $0.7 billion in both the fiscal third quarter of 2024 and 2023. Intangible amortization expense of $2.1 billion and $2.2 billion in the fiscal nine months of 2024 and 2023, respectively. • Expense of $1.25 billion to secure the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition) in the fiscal third quarter and fiscal nine months of 2024. • One-time COVID-19 Vaccine related exit costs of $0.1 billion and $0.7 billion in the fiscal nine months of 2024 and 2023, respectively. • Monetization of royalty rights of $0.3 billion in the fiscal third quarter and fiscal nine months of 2024. • A restructuring related charge of $0.1 billion in the fiscal nine months of 2024. A restructuring related charge of $0.1 billion and $0.4 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. Refer to Note 12 for additional details. • An In-process research and development impairment of $0.2 billion in the fiscal nine months of 2024 and $0.2 billion in the fiscal third quarter and fiscal nine months of 2023 associated with the M710 (biosimilar) asset acquired as part of the acquisition of Momenta Pharmaceuticals in 2020. • Unfavorable changes in the fair value of securities of $0.4 billion and $0.5 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. • Litigation expense of $0.4 billion in both the fiscal third quarter and fiscal nine months of 2024, primarily related to Risperdal Gynecomastia. Favorable litigation related items of $0.1 billion in the fiscal nine months of 2023. (2) MedTech includes: • Intangible amortization expense of $0.5 billion and $0.4 billion in the fiscal third quarter of 2024 and 2023, respectively. Intangible amortization expense of $1.3 billion and $1.1 billion in the fiscal nine months of 2024 and 2023, respectively. • Acquisition and integration related expense of $0.3 billion and $0.9 billion, primarily driven by the Shockwave acquisition, in the fiscal third quarter and fiscal nine months of 2024, respectively. Acquisition and integration related expense of $0.1 billion in the fiscal nine months of 2023. • A gain of $0.2 billion related to the Acclarent divestiture is included in the fiscal nine months of 2024. • A restructuring related charge of $0.1 billion in the fiscal nine months of 2024. A restructuring related charge of $0.2 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. (3 ) Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal third quarter of 2024 includes charges for talc matters of $2.0 billion. The fiscal nine months of 2024 and 2023 include charges for talc matters of approximately $5.1 billion and $7.0 billion, respectively (See Note 11, Legal Proceedings, for additional details). The fiscal nine months of 2024 includes a loss of approximately $0.4 billion related to the debt to equity exchange of the Company's remaining shares of Kenvue Common Stock. The fiscal third quarter and fiscal nine months of 2023 include $0.6 billion related to the unfavorable change in the fair value of Kenvue shares. Sales by geographic area Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, 2024 October 1, 2023 Percent September 29, 2024 October 1, 2023 Percent Change United States $12,909 11,996 7.6 % $37,098 34,435 7.7 % Europe 4,914 4,727 4.0 15,291 15,448 (1.0) Western Hemisphere, excluding U.S. 1,173 1,171 0.3 3,579 3,383 5.8 Asia-Pacific, Africa 3,475 3,457 0.5 10,333 10,498 (1.6) Total $22,471 21,351 5.2 % $66,301 63,764 4.0 %

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 29, 2024
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and divestitures Subsequent to the quarter, on October 8, 2024, the Company completed the acquisition of V-Wave Ltd, a privately-held company focused on developing innovative treatment options for patients with heart failure, for an upfront payment of $0.6 billion with the potential for additional regulatory and commercial milestone payments up to approximately $1.1 billion. The transaction will be accounted for as an asset acquisition, and result in an in-process research and development (IPR&D) charge of approximately $0.6 billion recorded as part of research and development expense. The results of operations will be included in the MedTech segment as of the acquisition date. During the fiscal third quarter of 2024, on July 11, 2024, the Company completed the acquisition of Yellow Jersey, a demerged subsidiary of Numab Therapeutics AG, to secure the global rights to NM26, a novel, investigational first-in-class bispecific antibody targeting two clinically proven pathways in atopic dermatitis (AD), in an all-cash transaction for approximately $1.25 billion. The transaction is being accounted for as an asset acquisition, resulting in an in-process research and development (IPR&D) charge of approximately $1.25 billion recorded as part of research and development expense and the results of operations is included in the Innovative Medicine segment as of the acquisition date. Remaining acquisitions in fiscal third quarter of 2024 were not material. During the fiscal second quarter of 2024, on June 20, 2024, the Company completed the acquisition of Proteologix, Inc., a privately held biotechnology company focused on bispecific antibodies for immune-mediated diseases, for approximately $0.8 billion net of cash acquired, with potential for an additional milestone payment. 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 $1.2 billion, primarily non-amortizable intangible assets, inclusive of purchased IPR&D, for $0.9 billion, goodwill for $0.3 billion, and $0.3 billion of liabilities acquired which included $0.1 billion related to a contingent consideration. The preliminary purchase price allocation is subject to any subsequent valuation adjustments within the measurement period. A probability of success factor ranging from 30% to 45% was used in the fair value calculation to reflect inherent regulatory and commercial risk of the IPR&D. The discount rate applied was approximately 16%. 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 third quarter and nine months of 2024 were not material. During the fiscal second quarter of 2024, on May 31, 2024, the Company completed the acquisition of Shockwave Medical Inc. (SWAV)(Shockwave), 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) in an all-cash merger transaction. The Company acquired all the outstanding shares of Shockwave’s common stock for $335.00 per share through a merger of Shockwave with a subsidiary of the Company. The transaction was accounted for as a business combination and the results of operations were included in the MedTech segment as of the acquisition date. Details of the fair value amounts recognized for assets acquired and liabilities assumed as of the purchase date and as of September 29, 2024, which includes measurement period adjustments : (Dollars in Billions) May 31, 2024 September 29, 2024 Assets acquired: Cash $1.1 $1.1 Goodwill 7.5 7.6 Amortizable intangibles 5.3 5.3 IPR&D 0.6 0.6 Inventory 0.5 0.5 Other assets 0.5 0.4 Total assets acquired $15.5 $15.5 Liabilities assumed: Deferred taxes $1.5 $1.5 Notes payable* 1.0 1.0 Accrued liabilities** 0.4 0.4 Total liabilities assumed $2.9 $2.9 Net assets acquired $12.6 $12.6 Net assets acquired as of May 31, 2024 $12.6 Less: Cash acquired 1.1 Equity awards settled 0.6 Settlement of Note payable* 1.0 Total enterprise value as of June 30, 2024 $13.1 *Represents the convertible debt which was subsequently paid in the fiscal second quarter of 2024. ** Includes $0.2 billion of equity awards The preliminary purchase price allocation is subject to any subsequent valuation adjustments within the measurement period. 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 third quarter were $0.2 billion primarily related to the fair value of the inventory step-up and was recorded in Cost of products sold. The fiscal nine months were $0.7 billion of which $0.4 billion related to equity awards and was recorded in Other (income) expense. The amortizable intangible assets were primarily comprised of already in-market CAD and PAD IVL products with the average weighted lives of 14 years. The IPR&D assets were valued for technology programs for unapproved products. The value of the IPR&D was calculated using a probability-adjusted cash flow projection discounted for the risk inherent in such projects with the weighted average probability of success factors of approximately 50%. The discount rate applied was 9.0%. During the fiscal first quarter of 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 nine months of 2024 were not material. Divestitures In the fiscal third quarter of 2024, the Company divestitures were not material. In the fiscal second quarter of 2024, the Company completed the divestiture of Acclarent resulting in approximately $0.3 billion in proceeds. In the fiscal first quarter of 2024, the Company completed the divestiture of Ponvory outside of the U.S. resulting in approximately $0.2 billion in proceeds. There were no material acquisitions or divestitures in the fiscal first, second or third quarter of 2023.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 29, 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 September 29, 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 the Company and its affiliates 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 June 2014, the Mississippi Attorney General filed a complaint against the Company alleging violation of 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). 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. The Company has reached an agreement to resolve this matter. Forty-two states and the District of Columbia commenced a joint investigation into the Company’s marketing of its talcum powder products. 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. In June 2024, the settlements were finalized. 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 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. In July 2024, the Third Circuit issued a non-precedential opinion affirming the Bankruptcy Court's decision to dismiss the LTL Bankruptcy case. 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. In December 2023, LTL changed its state of formation to Texas and its name to LLT Management LLC ("LLT"). 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, and a trial is scheduled to occur in December 2024. In March 2024, the court granted the Company's motion for a renewed Daubert hearing prior to the trial. The briefing on the renewed Daubert issues was completed in August 2024. 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 $8.0 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. On August 19, 2024, LLT engaged in a restructuring that resulted in the creation of three new Texas limited liability companies: (a) Red River Talc, LLC ("Red River"); (b) Pecos River Talc LLC ("Pecos River"); and (3) New Holdco (Texas) LLC. As a result of this restructuring, all claims related to ovarian and other gynecological cancers were separated and allocated to Red River, and mesothelioma, governmental unit and certain other claims were allocated to Pecos River. On September 20, 2024, while reiterating the Company's continued confidence in the safety of its talc products, Red River filed a voluntary petition with the United States Bankruptcy Court for the Southern District of Texas, seeking relief under Chapter 11 of the Bankruptcy Code (the Red River Bankruptcy Case), in furtherance of the Company's consensual "prepackaged" Proposed Plan. Red River also filed a motion for a temporary restraining order, seeking to extend the automatic stay to additional non-debtor entities. Prior to filing, the initial proposed plan was amended to, among other things, increase the proposed resolution by $1.75 billion. Shortly after Red River filed its Chapter 11 petition, the U.S. Trustee's office filed a motion to transfer venue in the New Jersey Bankruptcy Court, and thereafter, a motion to transfer venue in the Texas Bankruptcy Court. A coalition of six plaintiff law firms also filed a motion to transfer venue and a motion to dismiss in the Texas Bankruptcy Court. On September 23, 2024, the Texas Bankruptcy Court entered a temporary order enjoining the commencement or prosecution of all claims against Red River and certain non-debtor entities, including the Company, until October 11, 2024. On September 24, 2024, the New Jersey Bankruptcy Court denied the U.S. Trustee's motion to transfer venue without prejudice. On October 10, 2024, the Texas Bankruptcy Court denied the motion to transfer venue from Texas to New Jersey Bankruptcy Court. 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 resolved the State claims. To account for these settlements and the contemplated comprehensive resolution through the Proposed Plan, the Company recorded a cumulative incremental charge of approximately $5.0 billion, through the third fiscal quarter 2024. As of September 29, 2024, the total present value of the reserve is approximately $12.0 billion (or nominal value of approximately $13.9 billion), net of payments made in fiscal 2024. Approximately one-third of the reserve is recorded as a current liability. The recorded amount remains the Company's best estimate of probable loss. 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. 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 July 2024, the Company, Imerys, and Cyprus and certain of their affiliates (including their parent entities), and the tort claimants' committees and future claimants' representatives appointed in their respective Chapter 11 cases entered into a global settlement agreement (the Imerys Settlement Agreement) to resolve their ongoing disputes, including disputes raised in the Imerys and Cyprus bankruptcies. In August 2024, Imerys and Cyprus filed amended Chapter 11 plans and disclosure statements incorporating the terms of the settlement with the Company. In October 2024, the Imerys Bankruptcy Court approved the Imerys Settlement Agreement. A joint hearing to consider approval of the Imerys and Cyprus disclosure statements is scheduled for October 28, 2024. 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. 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. In February 2024, fact discovery closed, the Court ordered the parties to mediate, and stayed the case pending mediation. In May 2024, the parties participated in an unsuccessful mediation. In June 2024, at the parties' request, the Court lifted the stay for certain limited discovery, but otherwise kept the stay in place pending a decision from the Third Circuit on the 23(f) petition. Briefing on the 23(f) petition was completed in September 2024. 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 September 2024, the Company and JPI have settled or otherwise resolved the opioid claims advanced by all government entity claimants except a number of school districts and public hospital systems. 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 70% of the all-in settlement was paid by the end of fiscal third quarter 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. In September 2024, the Company reached an agreement to resolve the hospital cases. Counting the private litigant cases, there are approximately 20 remaining opioid cases against the Company and JPI in various state courts, 390 remaining cases in the Ohio MDL, and 3 additional cases in other federal courts. Some of these cases have been dismissed and are being appealed by the plaintiffs and certain others are scheduled for trial in 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. The proposed class action in Quebec on behalf of residents diagnosed with opioid use disorder was authorized to proceed against Janssen Inc. and other industry members in April 2024; leave to appeal has been sought. 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. In May 2024, briefing on the shareholder's petition for certification concluded. In September 2024, the New Jersey Supreme Court denied the shareholder's petition for certification. 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 September 29, 2024: Product or product category Number of plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 62,740 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 910 Pelvic meshes 6,190 ETHICON PHYSIOMESH Flexible Composite Mesh 160 RISPERDAL 10 ELMIRON 2,170 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, and Ireland, and class actions in Israel, Australia, Canada and South Africa. The vast majority of these actions are now resolved. The Company has established accruals with respect to product liability litigation associated with Ethicon’s pelvic mesh products. Ethicon Physiomesh Following a June 2016 worldwide market withdrawal of Ethicon Physiomesh Flexible Composite Mesh (Physiomesh), claims for personal injury have been made against Ethicon, Inc. (Ethicon) and the Company alleging personal injury arising out of the use of this hernia mesh device. Cases filed in federal courts in the United States have been organized as a multi-district litigation (MDL) in the United States District Court for the Northern District of Georgia. A multi-county litigation (MCL) also has been formed in New Jersey state court and assigned to Atlantic County for cases pending in New Jersey. In addition to the matters in the MDL and MCL, there are additional lawsuits pending in the United States District Court for the Southern District of Ohio, which are part of the MDL for polypropylene mesh devices manufactured by C.R. Bard, Inc., and lawsuits pending in two New Jersey MCLs formed for Proceed/Proceed Ventral Patch and Prolene Hernia systems, and lawsuits pending outside the United States. In May 2021, Ethicon and lead counsel for the plaintiffs entered into a term sheet to resolve approximately 3,600 Physiomesh cases (covering approximately 4,300 plaintiffs) pending in the MDL and MCL at that time. A master settlement agreement (MSA) was entered into in September 2021 and includes 3,729 cases in the MDL and MCL. Other than a small number of cases still pending in the MDL, all Physiomesh matters in the United States have been resolved or are undergoing formal review for purposes of settlement. Claims have also been filed against Ethicon and the Company alleging personal injuries arising from the PROCEED Mesh and PROCEED Ventral Patch hernia mesh products. In March 2019, the New Jersey Supreme Court entered an order consolidating these cases pending in New Jersey as an MCL in Atlantic County Superior Court. Additional cases have been filed in various federal and state courts in the United States, and in jurisdictions outside the United States. Ethicon and the Company also have been subject to claims for personal injuries arising from the PROLENE Polypropylene Hernia System. In January 2020, the New Jersey Supreme Court created an MCL in Atlantic County Superior Court to handle such cases. Cases involving this product have also been filed in other federal and state courts in the United States. In October 2022, an agreement in principle, subject to various conditions, was reached to settle the majority of the pending cases involving Proceed, Proceed Ventral Patch, Prolene Hernia System and related multi-layered mesh products, as well as a number of unfiled claims. All litigation activities in the two New Jersey MCLs are stayed pending effectuation of the proposed settlement. Future cases that are filed in the New Jersey MCLs will be subject to docket control orders requiring early expert reports and discovery requirements. The Company has established accruals with respect to product liability litigation associated with Ethicon Physiomesh Flexible Composite

Kenvue Separation

Kenvue Separation	9 Months Ended
	Sep. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Kenvue Separation	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 Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 1, 2023 Sales to customers $2,173 $10,036 Cost of products sold 911 4,369 Gross profit 1,262 5,667 Selling, marketing and administrative expenses 584 3,085 Research and development expense 24 258 Interest Income (37) (117) Interest expense, net of portion capitalized 67 199 Other (income) expense, net 406 1,018 Gain on separation of Kenvue (20,984) (20,984) Earnings from Discontinued Operations Before Provision for Taxes on Income 21,202 22,208 (Benefit from) Provision for taxes on income (517) 298 Net earnings from Discontinued Operations $21,719 $21,910 The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue: Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 1, 2023 Depreciation and Amortization $81 $383 Capital expenditures $23 $162

Restructuring

Restructuring	9 Months Ended
	Sep. 29, 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 expense was immaterial in the fiscal third quarter of 2024 and was $0.1 billion of expense in the fiscal nine months of 2024. This included the termination of partnered and non-partnered development program costs, asset impairments and asset divestments. The pre-tax restructuring charge of approximately $0.1 billion and $0.4 billion in the fiscal third quarter and fiscal nine months of 2023, respectively, 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 this restructuring program 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 was immaterial in the fiscal third quarter of 2024 and was $0.1 billion in the fiscal nine months of 2024, and primarily included costs related to market and product exits. The pre-tax restructuring expense of $0.2 billion in the fiscal third quarter and fiscal nine months of 2023, primarily included inventory and instrument charges related to market and product exits. Total project costs of approximately $0.4 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 and 2023: (Pre-tax Dollars in Millions) Q3 2024 Q3 2023 Q3 YTD 2024 Q3 YTD 2023 Innovative Medicine Segment (1) $19 149 100 424 MedTech Segment (2) 28 235 107 235 Total Programs $47 384 207 659 (1) Included in Restructuring on the Consolidated Statement of Earnings for the fiscal 2023 and 2024 (2) The fiscal third quarter of 2024 included $22 million in Restructuring and $6 million in Cost of products sold on the Consolidated Statement of Earnings. The fiscal nine months of 2024 included $92 million in Restructuring and $15 million in Cost of products sold on the Consolidated Statement of Earnings. The fiscal third quarter and nine months of 2023 included $9 million in Restructuring and $226 million in Cost of products sold on the Consolidated Statement of Earnings Restructuring reserves as of September 29, 2024 and December 31, 2023 were insignificant.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Pay vs Performance Disclosure
Net earnings	$ 2,694	$ 26,028	$ 10,635	$ 31,104

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 29, 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)	9 Months Ended
	Sep. 29, 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 nine months in 2024. Recently issued accounting standards Not adopted as of September 29, 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. While this accounting standard will increase disclosures, it will not have a material impact on the Company’s Consolidated Financial Statement results. 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. While this accounting standard will increase disclosures, it will not have a material impact on the Company’s Consolidated Financial Statement results. There were no new material accounting standards issued in the fiscal third 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)	9 Months Ended
	Sep. 29, 2024
Inventory Disclosure [Abstract]
Summary of Inventories	(Dollars in Millions) September 29, 2024 December 31, 2023 Raw materials and supplies $2,545 2,355 Goods in process 2,989 1,952 Finished goods 7,069 6,874 Total inventories $12,603 11,181

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	(Dollars in Millions) September 29, 2024 December 31, 2023 Intangible assets with definite lives: Patents and trademarks — gross $44,926 40,417 Less accumulated amortization (26,699) (24,808) Patents and trademarks — net 18,227 15,609 Customer relationships and other intangibles — gross 20,715 20,322 Less accumulated amortization (13,506) (12,685) Customer relationships and other intangibles — net (1) 7,209 7,637 Intangible assets with indefinite lives: Trademarks 1,704 1,714 Purchased in-process research and development 12,350 9,215 Total intangible assets with indefinite lives 14,054 10,929 Total intangible assets — net $39,490 34,175 (1) The majority is comprised of customer relationships
Goodwill	Goodwill as of September 29, 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 620 7,567 8,187 Goodwill, related to divestitures — (56) (56) Currency translation/Other 85 25 110 Goodwill at September 29, 2024 $11,112 33,687 44,799
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 $4,500 3,900 3,300 2,700 2,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 29, 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 third quarters ended September 29, 2024 and October 1, 2023, net of tax: September 29, 2024 October 1, 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 $— — — 343 — — — — (61) — Derivatives designated as hedging instruments — — — (343) — — — — 61 — 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 — — — 35 — — — — 31 — Amount of gain or (loss) recognized in AOCI — — — 35 — — — — 31 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 1 44 — — (4) 6 102 (5) — 4 Amount of gain or (loss) recognized in AOCI — (30) (21) — 1 (11) (166) 49 — 38 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 72 — — — — 41 — Amount of gain or (loss) recognized in AOCI $— — — 420 — — — — (454) — The following table is a summary of the activity related to derivatives and hedges for the fiscal nine months ended September 29, 2024 and October 1, 2023, net of tax: September 29, 2024 October 1, 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 $— — — 298 — — — — (67) — Derivatives designated as hedging instruments — — — (298) — — — — 67 — 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 — — — 102 — — — — 98 — Amount of gain or (loss) recognized in AOCI — — — 102 — — — — 98 — Gain (Loss) on cash flow hedging relationship: Forward foreign exchange contracts: Amount of gain or (loss) reclassified from AOCI into income 1 303 12 — (3) 3 12 (30) — 9 Amount of gain or (loss) recognized in AOCI (1) 17 12 — 6 (1) 230 20 — 42 Cross currency interest rate swaps contracts: Amount of gain or (loss) reclassified from AOCI into income — — — 162 — — — — 223 — Amount of gain or (loss) recognized in AOCI $— — — 177 — — — — (469) — The following table is the effect of net investment hedges for the fiscal third quarters ended in 2024 and 2023: Gain/(Loss) Recognized In Accumulated OCI Location of Gain or (Loss) Gain/(Loss) Reclassified From (Dollars in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Debt $(199) 101 Interest (income) expense — — Cross Currency interest rate swaps $(251) 214 Interest (income) expense — — The following table is the effect of net investment hedges for the fiscal nine months ended in 2024 and 2023: Gain/(Loss) Location of Gain or (Loss) Gain/(Loss) Reclassified From (Dollars in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Debt $(69) 35 Interest (income) expense — — Cross Currency interest rate swaps $569 880 Interest (income) expense — —
Schedule of Derivative Financial Instruments and Classification on Consolidated Balance Sheet	As of September 29, 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) September 29, 2024 December 31, 2023 September 29, 2024 December 31, 2023 Long-term Debt $8,202 8,862 (829) (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 third quarters ended 2024 and 2023: Gain/(Loss) Gain/(Loss) (Dollars in Millions) Location of Fiscal Third Quarter Ended Fiscal Nine Months Ended Derivatives Not Designated as Hedging Instruments September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Foreign Exchange Contracts Other (income) expense $(21) — 24 2
Summary of Activity Related to Equity Investments	The following table is a summary of the activity related to equity investments: December 31, 2023 September 29, 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 36 (4,004) 505 505 Equity Investments without readily determinable value $696 2 74 772 772 (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 September 29, 2024 and December 31, 2023 were as follows: September 29, 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 $— 472 — 472 539 Interest rate contracts (2) — 985 — 985 988 Total — 1,457 — 1,457 1,527 Liabilities: Forward foreign exchange contracts — 461 — 461 624 Interest rate contracts (2) — 4,487 — 4,487 5,338 Total — 4,948 — 4,948 5,962 Derivatives not designated as hedging instruments: Assets: Forward foreign exchange contracts — 34 — 34 64 Liabilities: Forward foreign exchange contracts — 32 — 32 75 Other Investments: Equity investments (3) 505 — — 505 4,473 Debt securities (4) — 3,818 — 3,818 8,874 Other Liabilities Contingent consideration (5) $— — 1,222 1,222 1,092 Gross to Net Derivative Reconciliation September 29, 2024 December 31, 2023 (Dollars in Millions) Total Gross Assets $1,491 1,591 Credit Support Agreement (CSA) (1,482) (1,575) Total Net Asset 9 16 Total Gross Liabilities 4,980 6,037 Credit Support Agreement (CSA) (4,808) (5,604) Total Net Liabilities $172 433 Summarized information about changes in liabilities for contingent consideration for the fiscal third quarters ended September 29, 2024 and October 1, 2023 is as follows: September 29, 2024 October 1, 2023 (Dollars in Millions) Beginning Balance $1,092 1,120 Changes in estimated fair value (6) 93 62 Additions 112 — Payments (75) (4) Ending Balance $1,222 1,178 (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 September 29, 2024 and December 31, 2023, respectively. (6)
Marketable Securities	The Company's cash, cash equivalents and current marketable securities as of September 29, 2024 comprised: (Dollars in Millions) Carrying Amount Unrealized Gain Estimated Fair Value Cash & Cash Equivalents Current Marketable Securities Cash $3,328 — 3,328 3,328 — U.S. Gov't securities — — — — — Non-U.S. sovereign securities 267 — 267 149 118 U.S. reverse repurchase agreements 6,853 — 6,853 6,853 — Corporate debt securities (1) — — — — — Money market funds 4,848 — 4,848 4,848 — Time deposits (1) 1,183 — 1,183 1,183 — Subtotal 16,479 — 16,479 16,361 118 U.S. Gov’t securities 3,596 — 3,596 3,581 15 U.S. Gov’t Agencies 6 — 6 — 6 Other sovereign securities 2 — 2 — 2 Corporate debt securities 214 — 214 38 176 Subtotal available for sale debt (2) $3,818 — 3,818 3,619 199 Total cash, cash equivalents and current marketable securities $20,297 — 20,297 19,980 317 (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 September 29, 2024 are as follows: (Dollars in Millions) Cost Basis Fair Value Due within one year $3,805 3,805 Due after one year through five years 13 13 Due after five years through ten years — — Total debt securities $3,818 3,818
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 September 29, 2024: (Dollars in Millions) Carrying Amount Estimated Fair Value Financial Liabilities Current Debt $4,462 4,429 Non-Current Debt 2.46% Notes due 2026 1,998 1,962 2.95% Notes due 2027 943 984 0.95% Notes due 2027 1,463 1,389 2.90% Notes due 2028 1,497 1,465 1.150% Notes due 2028 (750MM Euro 1.1141) 832 797 4.80% Notes due 2029 (1) 1,146 1,198 6.95% Notes due 2029 298 344 1.30% Notes due 2030 1,671 1,522 4.90% Notes due 2031 (1) 1,146 1,215 3.20% Notes due 2032 (700MM Euro 1.1141) (1) 776 805 4.95% Notes due 2033 499 536 4.375% Notes due 2033 854 879 4.95% Notes due 2034 (1) 846 904 1.650% Notes due 2035 (1.5B Euro 1.1141) 1,660 1,492 3.35% Notes due 2036 (800MM Euro 1.1141) (1) 886 914 3.587% Notes due 2036 902 936 5.95% Notes due 2037 994 1,157 3.625% Notes due 2037 1,395 1,393 3.40% Notes due 2038 993 897 5.85% Notes due 2038 697 804 4.50% Notes due 2040 541 553 2.10% Notes due 2040 885 726 4.85% Notes due 2041 297 313 4.50% Notes due 2043 496 501 3.55% Notes due 2044 (1.0B Euro 1.1141) (1) 1,104 1,140 3.73% Notes due 2046 1,978 1,747 3.75% Notes due 2047 868 873 3.50% Notes due 2048 744 628 2.25% Notes due 2050 859 648 5.25% Notes due 2054 (1) 843 921 2.45% Notes due 2060 1,107 782 Other 71 71 Total Non-Current Debt $31,289 30,496 (1)

Pensions and Other Benefit Pl_2

Pensions and Other Benefit Plans (Tables)	9 Months Ended
	Sep. 29, 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 Third Quarter Ended Fiscal Nine Months Ended Retirement Plans Other Benefit Plans Retirement Plans Other Benefit Plans (Dollars in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Service cost $225 209 69 61 671 634 207 198 Interest cost 351 361 53 51 1,054 1,084 157 160 Expected return on plan assets (643) (680) (2) (1) (1,924) (2,042) (5) (4) Amortization of prior service cost/(credit) (46) (47) — — (138) (139) (1) (1) Recognized actuarial (gains)/losses 43 (50) 13 4 130 (150) 39 17 Curtailments and settlements 6 109 — (4) (2) 109 — (4) Net periodic benefit cost/(credit) $(64) (98) 133 111 (209) (504) 397 366

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 29, 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 197 2 70 (264) 5 September 29, 2024 (9,952) 1 (1,930) (641) (12,522)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 29, 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 Third Quarter Ended Fiscal Nine Months Ended (Shares in Millions) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Basic net earnings per share from continuing operations $1.12 1.71 4.42 3.57 Basic net earnings per share from discontinued operations — 8.61 — 8.51 Total net earnings per share - basic 1.12 10.32 4.42 12.08 Average shares outstanding — basic 2,407.2 2,522.9 2,407.4 2,575.6 Potential shares exercisable under stock option plans 89.1 119.2 78.8 96.9 Less: shares which could be repurchased under treasury stock method (68.4) (92.4) (56.7) (69.1) Average shares outstanding — diluted 2,427.9 2,549.7 2,429.5 2,603.4 Diluted net earnings per share from continuing operations 1.11 1.69 4.38 3.53 Diluted net earnings per share from discontinued operations — 8.52 — 8.42 Total net earnings per share - diluted $1.11 10.21 4.38 11.95 (Shares in Millions) The diluted net earnings per share calculation excluded the following number of shares related to stock options, as the exercise price of these options was greater than the average market value of the Company’s stock. 43.0 16.4 54.2 42.9

Segments of Business and Geog_2

Segments of Business and Geographic Areas (Tables)	9 Months Ended
	Sep. 29, 2024
Segment Reporting [Abstract]
Sales By Segment Of Business	Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change INNOVATIVE MEDICINE Immunology U.S. $3,068 3,193 (3.9) % $8,499 8,506 (0.1) % International 1,552 1,656 (6.2) 5,090 4,951 2.8 Worldwide 4,621 4,849 (4.7) 13,590 13,457 1.0 REMICADE U.S. 281 296 (5.4) 778 849 (8.5) U.S. Exports 27 38 (28.9) 89 112 (20.5) International 112 127 (11.5) 380 449 (15.4) Worldwide 419 461 (9.1) 1,246 1,410 (11.6) SIMPONI / SIMPONI ARIA U.S. 299 310 (3.7) 820 866 (5.3) International 218 319 (31.8) 787 829 (5.1) Worldwide 516 629 (18.0) 1,607 1,695 (5.2) STELARA U.S. 1,770 1,912 (7.5) 5,021 5,180 (3.1) International 906 951 (4.8) 2,991 2,925 2.2 Worldwide 2,676 2,864 (6.6) 8,012 8,105 (1.2) TREMFYA U.S. 691 634 9.1 1,789 1,490 20.1 International 316 258 22.6 932 747 24.7 Worldwide 1,007 891 13.0 2,721 2,237 21.6 OTHER IMMUNOLOGY U.S. 1 2 (45.6) 3 9 (66.8) International 0 0 — 0 0 — Worldwide 1 2 (45.6) 3 9 (66.8) Infectious Diseases U.S. 365 360 1.5 1,023 1,147 (10.8) International 471 500 (5.7) 1,599 2,420 (33.9) Worldwide 836 859 (2.7) 2,622 3,566 (26.5) COVID-19 VACCINE U.S. 0 0 — 0 0 — International 1 41 (97.7) 198 1,073 (81.6) Worldwide 1 41 (97.7) 198 1,073 (81.6) EDURANT / rilpivirine Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change U.S. 8 9 (15.8) 24 26 (10.0) International 323 287 12.3 926 816 13.5 Worldwide 330 297 11.5 950 843 12.7 PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA U.S. 355 345 2.8 990 1,105 (10.5) International 94 102 (6.9) 315 310 1.8 Worldwide 449 447 0.6 1,305 1,415 (7.8) OTHER INFECTIOUS DISEASES U.S. 3 5 (52.2) 10 15 (37.7) International 53 69 (23.2) 160 220 (27.4) Worldwide 55 74 (25.4) 169 235 (28.0) Neuroscience U.S. 1,094 1,036 5.6 3,250 3,043 6.8 International 662 706 (6.2) 2,090 2,296 (8.9) Worldwide 1,755 1,742 0.8 5,340 5,339 0.0 CONCERTA / methylphenidate U.S. 26 57 (55.0) 101 191 (47.5) International 117 133 (11.9) 382 412 (7.3) Worldwide 142 189 (24.8) 482 603 (20.0) INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA U.S. 780 730 6.8 2,329 2,164 7.6 International 269 299 (10.1) 830 940 (11.7) Worldwide 1,049 1,029 1.9 3,159 3,104 1.8 SPRAVATO U.S. 243 154 56.8 660 409 61.2 International 42 29 44.6 120 74 62.9 Worldwide 284 183 54.9 780 483 61.5 OTHER NEUROSCIENCE U.S. 46 94 (51.4) 161 278 (42.1) International 235 245 (4.4) 759 870 (12.8) Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change Worldwide 281 340 (17.4) 920 1,149 (19.9) Oncology U.S. 2,816 2,219 26.9 7,835 6,177 26.8 International 2,565 2,313 10.9 7,450 6,865 8.5 Worldwide 5,380 4,533 18.7 15,284 13,043 17.2 CARVYKTI U.S. 258 140 84.9 565 324 74.6 International 27 12 * 63 17 * Worldwide 286 152 87.7 629 341 84.3 DARZALEX U.S. 1,684 1,369 23.0 4,789 3,882 23.4 International 1,332 1,130 17.9 3,797 3,312 14.6 Worldwide 3,016 2,499 20.7 8,586 7,194 19.3 ERLEADA U.S. 337 288 17.1 940 778 20.8 International 453 342 32.4 1,275 961 32.6 Worldwide 790 631 25.4 2,215 1,740 27.3 IMBRUVICA U.S. 259 264 (1.9) 770 796 (3.2) International 494 545 (9.2) 1,537 1,681 (8.5) Worldwide 753 808 (6.8) 2,307 2,476 (6.8) TECVAYLI U.S. 105 93 13.5 310 232 34.0 International 30 19 54.2 93 37 * Worldwide 135 112 20.6 403 269 49.6 ZYTIGA / abiraterone acetate U.S. 5 16 (66.0) 25 41 (38.0) International 144 199 (27.1) 470 646 (27.1) Worldwide 150 214 (30.0) 496 686 (27.8) OTHER ONCOLOGY U.S. 168 50 * 435 125 * International 83 67 24.8 214 211 2.0 Worldwide 250 117 * 649 336 93.4 Pulmonary Hypertension U.S. 815 680 20.0 2,324 1,964 18.4 International 287 274 4.5 866 835 3.7 Worldwide 1,102 954 15.6 3,190 2,798 14.0 OPSUMIT U.S. 406 323 25.4 1,135 924 22.8 International 165 166 (0.2) 504 512 (1.6) Worldwide 571 490 16.8 1,639 1,437 14.1 UPTRAVI Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change U.S. 379 336 12.7 1,120 978 14.5 International 80 66 21.8 232 185 25.5 Worldwide 458 402 14.2 1,352 1,163 16.3 OTHER PULMONARY HYPERTENSION U.S. 32 20 54.0 70 61 14.0 International 40 42 (3.9) 129 137 (5.8) Worldwide 72 63 15.0 199 199 0.3 Cardiovascular / Metabolism / Other U.S. 713 763 (6.5) 2,061 2,254 (8.5) International 170 194 (11.9) 543 580 (6.4) Worldwide 884 957 (7.6) 2,605 2,834 (8.1) XARELTO U.S. 592 625 (5.2) 1,697 1,840 (7.8) International — — — — — — Worldwide 592 625 (5.2) 1,697 1,840 (7.8) OTHER U.S. 121 139 (12.2) 364 414 (11.9) International 170 194 (11.9) 543 580 (6.4) Worldwide 292 332 (12.0) 908 994 (8.7) TOTAL INNOVATIVE MEDICINE U.S. 8,871 8,249 7.5 24,993 23,090 8.2 International 5,709 5,644 1.2 17,639 17,947 (1.7) Worldwide 14,580 13,893 4.9 42,632 41,037 3.9 MEDTECH Cardiovascular (1) U.S. 1,148 891 28.6 3,292 2,662 23.6 International 819 667 22.8 2,353 2,019 16.5 Worldwide 1,966 1,558 26.2 5,645 4,681 20.6 ELECTROPHYSIOLOGY U.S. 660 611 7.9 2,057 1,791 14.8 International 619 549 12.7 1,889 1,658 14.0 Worldwide 1,279 1,161 10.2 3,946 3,449 14.4 ABIOMED U.S. 293 254 15.4 905 790 14.5 International 68 57 20.1 207 176 17.7 Worldwide 362 311 16.3 1,112 966 15.1 SHOCKWAVE (2) U.S. 163 — * 240 — * International 66 — * 66 — * Worldwide 229 — * 306 — * OTHER CARDIOVASCULAR (1) U.S. 30 26 16.7 89 81 10.6 Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change International 66 61 7.7 192 186 3.0 Worldwide 96 87 10.4 281 267 5.3 Orthopaedics U.S. 1,359 1,349 0.7 4,229 4,100 3.2 International 832 815 2.0 2,614 2,574 1.5 Worldwide 2,191 2,164 1.2 6,843 6,674 2.5 HIPS U.S. 250 239 4.8 785 730 7.5 International 131 136 (3.6) 435 432 0.6 Worldwide 381 375 1.7 1,220 1,162 5.0 KNEES U.S. 212 207 2.2 684 654 4.5 International 140 131 6.9 463 415 11.5 Worldwide 352 338 4.0 1,147 1,069 7.2 TRAUMA U.S. 497 488 1.8 1,499 1,462 2.5 International 265 253 4.2 786 775 1.4 Worldwide 761 742 2.6 2,285 2,238 2.1 SPINE, SPORTS & OTHER U.S. 400 415 (3.6) 1,262 1,254 0.6 International 296 295 0.4 930 952 (2.3) Worldwide 696 710 (1.9) 2,191 2,205 (0.6) Surgery U.S. 983 994 (1.1) 2,965 2,984 (0.6) International 1,451 1,483 (2.2) 4,373 4,522 (3.3) Worldwide 2,434 2,479 (1.8) 7,338 7,507 (2.2) ADVANCED U.S. 448 455 (1.4) 1,360 1,365 (0.4) International 661 709 (6.8) 1,977 2,139 (7.6) Worldwide 1,109 1,164 (4.7) 3,337 3,504 (4.8) GENERAL U.S. 535 540 (0.9) 1,605 1,619 (0.9) International 791 775 2.1 2,397 2,383 0.6 Worldwide 1,325 1,314 0.8 4,001 4,002 0.0 Vision U.S. 549 512 7.2 1,619 1,599 1.3 International 751 744 0.9 2,224 2,265 (1.8) Worldwide 1,300 1,256 3.5 3,843 3,864 (0.5) CONTACT LENSES / OTHER U.S. 441 399 10.2 1,288 1,252 2.8 Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Change International 527 529 (0.3) 1,508 1,568 (3.8) Worldwide 968 928 4.2 2,796 2,820 (0.9) SURGICAL U.S. 108 112 (3.6) 331 346 (4.4) International 225 216 3.9 717 698 2.7 Worldwide 333 328 1.3 1,048 1,044 0.3 TOTAL MEDTECH U.S. 4,038 3,747 7.8 12,105 11,345 6.7 International 3,853 3,711 3.9 11,564 11,382 1.6 Worldwide 7,891 7,458 5.8 23,669 22,727 4.1 WORLDWIDE U.S. 12,909 11,996 7.6 37,098 34,435 7.7 International 9,562 9,355 2.2 29,203 29,329 (0.4) Worldwide $22,471 21,351 5.2 % $66,301 63,764 4.0 % * Percentage greater than 100% or not meaningful (1) Previously referred to as Interventional Solutions (2) Acquired on May 31, 2024
Operating Profit by Segment of Business	Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, October 1, Percent September 29, October 1, Percent Innovative Medicine (1) $4,482 4,794 (6.5) % $14,910 14,008 6.4 % MedTech (2) 1,059 1,185 (10.6) 3,668 4,265 (14.0) Segment earnings before provision for taxes 5,541 5,979 (7.3) 18,578 18,273 1.7 Less: Expense not allocated to segments (3) 2,203 762 5,778 8,037 Worldwide income (loss) before tax $3,338 5,217 (36.0) % $12,800 10,236 25.0 % (1) Innovative Medicine includes: • Intangible amortization expense of $0.7 billion in both the fiscal third quarter of 2024 and 2023. Intangible amortization expense of $2.1 billion and $2.2 billion in the fiscal nine months of 2024 and 2023, respectively. • Expense of $1.25 billion to secure the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition) in the fiscal third quarter and fiscal nine months of 2024. • One-time COVID-19 Vaccine related exit costs of $0.1 billion and $0.7 billion in the fiscal nine months of 2024 and 2023, respectively. • Monetization of royalty rights of $0.3 billion in the fiscal third quarter and fiscal nine months of 2024. • A restructuring related charge of $0.1 billion in the fiscal nine months of 2024. A restructuring related charge of $0.1 billion and $0.4 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. Refer to Note 12 for additional details. • An In-process research and development impairment of $0.2 billion in the fiscal nine months of 2024 and $0.2 billion in the fiscal third quarter and fiscal nine months of 2023 associated with the M710 (biosimilar) asset acquired as part of the acquisition of Momenta Pharmaceuticals in 2020. • Unfavorable changes in the fair value of securities of $0.4 billion and $0.5 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. • Litigation expense of $0.4 billion in both the fiscal third quarter and fiscal nine months of 2024, primarily related to Risperdal Gynecomastia. Favorable litigation related items of $0.1 billion in the fiscal nine months of 2023. (2) MedTech includes: • Intangible amortization expense of $0.5 billion and $0.4 billion in the fiscal third quarter of 2024 and 2023, respectively. Intangible amortization expense of $1.3 billion and $1.1 billion in the fiscal nine months of 2024 and 2023, respectively. • Acquisition and integration related expense of $0.3 billion and $0.9 billion, primarily driven by the Shockwave acquisition, in the fiscal third quarter and fiscal nine months of 2024, respectively. Acquisition and integration related expense of $0.1 billion in the fiscal nine months of 2023. • A gain of $0.2 billion related to the Acclarent divestiture is included in the fiscal nine months of 2024. • A restructuring related charge of $0.1 billion in the fiscal nine months of 2024. A restructuring related charge of $0.2 billion in the fiscal third quarter and fiscal nine months of 2023, respectively. (3 ) Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal third quarter of 2024 includes charges for talc matters of $2.0 billion. The fiscal nine months of 2024 and 2023 include charges for talc matters of approximately $5.1 billion and $7.0 billion, respectively (See Note 11, Legal Proceedings, for additional details). The fiscal nine months of 2024 includes a loss of approximately $0.4 billion related to the debt to equity exchange of the Company's remaining shares of Kenvue Common Stock. The fiscal third quarter and fiscal nine months of 2023 include $0.6 billion related to the unfavorable change in the fair value of Kenvue shares.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) September 29, 2024 October 1, 2023 Percent September 29, 2024 October 1, 2023 Percent Change United States $12,909 11,996 7.6 % $37,098 34,435 7.7 % Europe 4,914 4,727 4.0 15,291 15,448 (1.0) Western Hemisphere, excluding U.S. 1,173 1,171 0.3 3,579 3,383 5.8 Asia-Pacific, Africa 3,475 3,457 0.5 10,333 10,498 (1.6) Total $22,471 21,351 5.2 % $66,301 63,764 4.0 %

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 29, 2024
Business Combinations [Abstract]
Schedule of Preliminary Amounts Recognized for Assets Acquired and Liabilities Assumed	Details of the fair value amounts recognized for assets acquired and liabilities assumed as of the purchase date and as of September 29, 2024, which includes measurement period adjustments : (Dollars in Billions) May 31, 2024 September 29, 2024 Assets acquired: Cash $1.1 $1.1 Goodwill 7.5 7.6 Amortizable intangibles 5.3 5.3 IPR&D 0.6 0.6 Inventory 0.5 0.5 Other assets 0.5 0.4 Total assets acquired $15.5 $15.5 Liabilities assumed: Deferred taxes $1.5 $1.5 Notes payable* 1.0 1.0 Accrued liabilities** 0.4 0.4 Total liabilities assumed $2.9 $2.9 Net assets acquired $12.6 $12.6 Net assets acquired as of May 31, 2024 $12.6 Less: Cash acquired 1.1 Equity awards settled 0.6 Settlement of Note payable* 1.0 Total enterprise value as of June 30, 2024 $13.1 *Represents the convertible debt which was subsequently paid in the fiscal second quarter of 2024. ** Includes $0.2 billion of equity awards

Legal Proceedings (Tables)

Legal Proceedings (Tables)	9 Months Ended
	Sep. 29, 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 September 29, 2024: Product or product category Number of plaintiffs Body powders containing talc, primarily JOHNSON’S Baby Powder 62,740 DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System 160 PINNACLE Acetabular Cup System 910 Pelvic meshes 6,190 ETHICON PHYSIOMESH Flexible Composite Mesh 160 RISPERDAL 10 ELMIRON 2,170

Kenvue Separation (Tables)

Kenvue Separation (Tables)	9 Months Ended
	Sep. 29, 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 Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 1, 2023 Sales to customers $2,173 $10,036 Cost of products sold 911 4,369 Gross profit 1,262 5,667 Selling, marketing and administrative expenses 584 3,085 Research and development expense 24 258 Interest Income (37) (117) Interest expense, net of portion capitalized 67 199 Other (income) expense, net 406 1,018 Gain on separation of Kenvue (20,984) (20,984) Earnings from Discontinued Operations Before Provision for Taxes on Income 21,202 22,208 (Benefit from) Provision for taxes on income (517) 298 Net earnings from Discontinued Operations $21,719 $21,910 The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue: Fiscal Third Quarter Ended Fiscal Nine Months Ended (Dollars in Millions) October 1, 2023 October 1, 2023 Depreciation and Amortization $81 $383 Capital expenditures $23 $162

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 29, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve	The following table summarizes the restructuring expenses for 2024 and 2023: (Pre-tax Dollars in Millions) Q3 2024 Q3 2023 Q3 YTD 2024 Q3 YTD 2023 Innovative Medicine Segment (1) $19 149 100 424 MedTech Segment (2) 28 235 107 235 Total Programs $47 384 207 659 (1) Included in Restructuring on the Consolidated Statement of Earnings for the fiscal 2023 and 2024 (2) The fiscal third quarter of 2024 included $22 million in Restructuring and $6 million in Cost of products sold on the Consolidated Statement of Earnings. The fiscal nine months of 2024 included $92 million in Restructuring and $15 million in Cost of products sold on the Consolidated Statement of Earnings. The fiscal third quarter and nine months of 2023 included $9 million in Restructuring and $226 million in Cost of products sold on the Consolidated Statement of Earnings

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Sep. 29, 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	Sep. 29, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 2,545	$ 2,355
Goods in process	2,989	1,952
Finished goods	7,069	6,874
Total inventories	$ 12,603	$ 11,181

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	$ 14,054	$ 10,929
Total intangible assets — net	39,490	34,175
Trademarks
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	1,704	1,714
Purchased In-Process Research And Development
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	12,350	9,215
Patents And Trademarks
Intangible assets with definite lives:
Finite-lived intangible assets, gross	44,926	40,417
Less accumulated amortization	(26,699)	(24,808)
Finite-lived intangible assets, net	18,227	15,609
Customer relationships and other intangible assets
Intangible assets with definite lives:
Finite-lived intangible assets, gross	20,715	20,322
Less accumulated amortization	(13,506)	(12,685)
Finite-lived intangible assets, net	$ 7,209	$ 7,637

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Goodwill By Segment (Details) $ in Millions	9 Months Ended
	Sep. 29, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill Beginning of Period	$ 36,558
Goodwill, related to acquisitions	8,187
Goodwill, related to divestitures	(56)
Currency translation/Other	110
Goodwill End of Period	44,799
Innovative Medicine
Goodwill [Roll Forward]
Goodwill Beginning of Period	10,407
Goodwill, related to acquisitions	620
Goodwill, related to divestitures	0
Currency translation/Other	85
Goodwill End of Period	11,112
MedTech
Goodwill [Roll Forward]
Goodwill Beginning of Period	26,151
Goodwill, related to acquisitions	7,567
Goodwill, related to divestitures	(56)
Currency translation/Other	25
Goodwill End of Period	$ 33,687

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization expense of amortizable intangible assets	$ 1,200	$ 1,100	$ 3,400	$ 3,400
Patents And Trademarks
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	12 years		12 years
Customer relationships and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	18 years		18 years

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Intangible Asset Amortization Expense (Details) $ in Millions	Sep. 29, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 4,500
2025	3,900
2026	3,300
2027	2,700
2028	$ 2,000

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions			9 Months Ended	12 Months Ended
	May 17, 2024	May 15, 2024	Sep. 29, 2024	Dec. 31, 2023
Derivative [Line Items]
Accumulated other comprehensive loss on derivatives, after tax			$ (641)
Hedging exposure			18 months
Commercial paper		$ 3,600
Proceeds from issuance of commercial paper		$ 3,600
Debt for equity exchange, shares exchanged (in shares)	182,329,550
Debt for equity exchange, loss on shares exchanged	$ 400
Weighted average interest rate on non-current debt			3.35%
Excess of carrying value over fair value of debt				$ 1,000
Current Debt			$ 4,462	3,451
Commercial Paper
Derivative [Line Items]
Current Debt			$ 2,000
Weighted average interest rate			5.10%
Term			2 months
Forward foreign exchange contracts
Derivative [Line Items]
Collateral already posted, aggregate fair value			$ 3,300
Derivative, notional amount			46,900	42,900
Cross currency interest rate swaps
Derivative [Line Items]
Derivative, notional amount			40,400	39,700
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount			$ 9,000	$ 10,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Derivative Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	$ 0	$ 0	$ 0	$ 0
Cross currency interest rate swaps | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Interest Rate Swap | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	343	(61)	298	(67)
Amount of gain or (loss) recognized in AOCI	(343)	61	(298)	67
Fair Value Hedging | Interest Rate Swap | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0	0	0
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Fair Value Hedging | Cross currency interest rate swaps | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Fair Value Hedging | Cross currency interest rate swaps | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			102	98
Amount of gain or (loss) recognized in AOCI			102	98
Fair Value Hedging | Cross currency interest rate swaps | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing			0	0
Amount of gain or (loss) recognized in AOCI			0	0
Net Investment Hedging | Net Investment Hedging | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging | Net Investment Hedging | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging | Net Investment Hedging | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Net Investment Hedging | Net Investment Hedging | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	35	31
Amount of gain or (loss) recognized in AOCI	35	31
Net Investment Hedging | Net Investment Hedging | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing	0	0
Amount of gain or (loss) recognized in AOCI	0	0
Cash Flow Hedging | Forward foreign exchange contracts | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	(11)	(1)	(1)
Amount of gain or (loss) reclassified from AOCI into income	1	6	1	3
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	(30)	(166)	17	230
Amount of gain or (loss) reclassified from AOCI into income	44	102	303	12
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	(21)	49	12	20
Amount of gain or (loss) reclassified from AOCI into income	0	(5)	12	(30)
Cash Flow Hedging | Forward foreign exchange contracts | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Forward foreign exchange contracts | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	1	38	6	42
Amount of gain or (loss) reclassified from AOCI into income	(4)	4	(3)	9
Cash Flow Hedging | Cross currency interest rate swaps | Sales to customers
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Research and Development Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cash Flow Hedging | Cross currency interest rate swaps | Interest (income)/Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	420	(454)	177	(469)
Amount of gain or (loss) reclassified from AOCI into income	72	41	162	223
Cash Flow Hedging | Cross currency interest rate swaps | Other (income) expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in AOCI	0	0	0	0
Amount of gain or (loss) reclassified from AOCI into income	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives, Balance Sheet Location (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023
Derivative [Line Items]
Carrying Amount of the Hedged Liability	$ 4,980	$ 6,037
Designated as Hedging Instrument
Derivative [Line Items]
Carrying Amount of the Hedged Liability	8,202	8,862
Cumulative Amount of Fair Value Hedging Gain/ (Loss) Included in the Carrying Amount of the Hedged Liability	$ (829)	$ (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		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Not Designated as Hedging Instrument | Forward foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Income on Derivative	$ (21)	$ 0	$ 24	$ 2

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Effect of Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	$ (199)	$ 101	$ (69)	$ 35
Other Income Expense Net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	0	0	0	0
Cross Currency Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(Loss) Recognized In Accumulated OCI	(251)	214	569	880
Cross Currency Interest Rate Contract | Other Income Expense Net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from AOCI into income	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Activity Related to Equity Investments (Details) - USD ($) $ in Millions		9 Months Ended
	Aug. 23, 2023	Sep. 29, 2024	Dec. 31, 2023
Equity Investment [Roll Forward]
Non Current Other Assets		$ 10,921	$ 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		36
Sales/ Purchases/Other		(4,004)
Carrying value, end of period		505
Non Current Other Assets		505
Equity Securities | Equity Investments without readily determinable value
Equity Investment [Roll Forward]
Carrying value, beginning of period		696
Equity, Fair Value Adjustment		2
Sales/ Purchases/Other		74
Carrying value, end of period		772
Non Current Other Assets		$ 772

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	$ 1,457
Derivatives designated as hedging instruments : Liabilities	4,948
Available-for-sale Securities, Equity Securities	505		$ 4,473
Available-for-sale Securities	3,818		8,874
Contingent consideration	1,222		1,092
Total Gross Assets	1,491		1,591
Credit Support Agreement (CSA)	(1,482)		(1,575)
Total Net Asset	9		16
Total Gross Liabilities	4,980		6,037
Credit Support Agreement (CSA)	(4,808)		(5,604)
Total Net Liabilities	172		433
Beginning Balance	1,092	$ 1,120
Changes in estimated fair value(6)	93	62
Additions	112	0
Payments	(75)	(4)
Ending Balance	1,222	$ 1,178
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	505		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	1,457		1,527
Derivatives designated as hedging instruments : Liabilities	4,948		5,962
Available-for-sale Securities, Equity Securities	0
Available-for-sale Securities	3,818
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	1,222		1,092
Interest Rate Contract
Financial assets and liabilities at fair value
Derivatives designated as hedging instruments : Assets	985
Derivatives designated as hedging instruments : Liabilities	4,487
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	985		988
Derivatives designated as hedging instruments : Liabilities	4,487		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	472
Derivatives designated as hedging instruments : Liabilities	461
Derivatives not designated as hedging instruments : Assets	34
Derivatives not designated as hedging instruments : Liabilities	32
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	472		539
Derivatives designated as hedging instruments : Liabilities	461		624
Derivatives not designated as hedging instruments : Assets	34		64
Derivatives not designated as hedging instruments : Liabilities	32		$ 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	Sep. 29, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Estimated Fair Value	$ 3,818	$ 8,874
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	19,980	21,859
Marketable securities	317	$ 1,068
Total cash, cash equivalents and current marketable securities, Carrying Amount	20,297
Total cash, cash equivalents and current marketable securities, Unrealized Gain	0
Total cash, cash equivalents and current marketable securities, Estimated Fair Value	20,297
Held-to-maturity Securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	16,479
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	16,479
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	16,361
Marketable securities	118
Held-to-maturity Securities | Cash
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	3,328
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	3,328
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,328
Marketable securities	0
Held-to-maturity Securities | U.S. Gov't securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	0
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	0
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	0
Marketable securities	0
Held-to-maturity Securities | Non-U.S. sovereign securities
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	267
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	267
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	149
Marketable securities	118
Held-to-maturity Securities | U.S. reverse repurchase agreements
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	6,853
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	6,853
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	6,853
Marketable securities	0
Held-to-maturity Securities | Corporate debt securities(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	0
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	0
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	0
Marketable securities	0
Held-to-maturity Securities | Money market funds
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	4,848
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	4,848
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	4,848
Marketable securities	0
Held-to-maturity Securities | Time deposits(1)
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity Securities - Carrying Amount	1,183
Held-to-maturity Securities, Unrecognized Gain	0
Held-to-maturity Securities - Estimated Fair Value	1,183
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	1,183
Marketable securities	0
Available-for-sale Securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	3,818
Available-for-sale Securities, Unrecognized Gain	0
Available-for-sale Securities - Estimated Fair Value	3,818
Debt Securities, Available-for-sale and Held-to-maturity [Abstract]
Cash and Cash Equivalents	3,619
Marketable securities	199
Available-for-sale Securities | U.S. Gov’t securities
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	3,596
Available-for-sale Securities - Estimated Fair Value	3,596
Available-for-sale Securities | U.S. Gov’t Agencies
Debt Securities, Available-for-sale [Abstract]
Available-for-sale Securities - Carrying Amount	6
Available-for-sale Securities - Estimated Fair Value	6
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	214
Available-for-sale Securities - Estimated Fair Value	214
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	38
Marketable securities	176
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	3,581
Marketable securities	15
Available-for-sale Securities | U.S. Gov’t Agencies
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	$ 6

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Available for Sale Securities Maturities (Details) $ in Millions	Sep. 29, 2024 USD ($)
Cost Basis
Due within one year	$ 3,805
Due after one year through five years	13
Due after five years through ten years	0
Total debt securities	3,818
Fair Value
Due within one year	3,805
Due after one year through five years	13
Due after five years through ten years	0
Total debt securities	$ 3,818

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Liabilities not Measured at Fair Value (Details)	Sep. 29, 2024 USD ($)	Sep. 29, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Financial Liabilities
Current Debt	$ 4,462,000,000		$ 3,451,000,000
Non-Current Debt
Non-Current Debt	31,289,000,000		$ 25,881,000,000
Unsecured Notes
Non-Current Debt
Debt instrument, face amount	6,700,000,000
Carrying Amount
Financial Liabilities
Current Debt	4,462,000,000
Non-Current Debt
Non-Current Debt	31,289,000,000
Estimated Fair Value
Financial Liabilities
Current Debt	4,429,000,000
Non-Current Debt
Non-Current Debt	$ 30,496,000,000
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	$ 1,962,000,000
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	$ 943,000,000
2.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 984,000,000
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	$ 1,463,000,000
0.95% Notes due 2027 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,389,000,000
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	$ 1,465,000,000
1.150% Notes due 2028 (750MM Euro 1.1141)
Non-Current Debt
Stated interest rate (as a percent)	1.15%	1.15%
Debt instrument, face amount | €		€ 750,000,000
Foreign exchange rate	1.1141	1.1141
1.150% Notes due 2028 (750MM Euro 1.1141) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 832,000,000
1.150% Notes due 2028 (750MM Euro 1.1141) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 797,000,000
4.80% Notes due 2029
Non-Current Debt
Stated interest rate (as a percent)	4.80%	4.80%
4.80% Notes due 2029 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,146,000,000
4.80% Notes due 2029 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,198,000,000
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	$ 344,000,000
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	$ 1,671,000,000
1.30% Notes due 2030 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,522,000,000
4.90% Notes due 2031
Non-Current Debt
Stated interest rate (as a percent)	4.90%	4.90%
4.90% Notes due 2031 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,146,000,000
4.90% Notes due 2031 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,215,000,000
3.20% Notes due 2032 (700MM Euro 1.0721)
Non-Current Debt
Stated interest rate (as a percent)	3.20%	3.20%
Debt instrument, face amount	$ 700,000,000
Foreign exchange rate	1.1141	1.1141
3.20% Notes due 2032 (700MM Euro 1.0721) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 776,000,000
3.20% Notes due 2032 (700MM Euro 1.0721) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 805,000,000
4.95% Notes due 2033
Non-Current Debt
Stated interest rate (as a percent)	4.95%	4.95%
4.95% Notes due 2033 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 499,000,000
4.95% Notes due 2033 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 536,000,000
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	$ 879,000,000
4.95% Notes due 2034
Non-Current Debt
Stated interest rate (as a percent)	4.95%	4.95%
4.95% Notes due 2034 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 846,000,000
4.95% Notes due 2034 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	904,000,000
1.650% Notes due 2035 (1.5B Euro 1.1141) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,660,000,000
Stated interest rate (as a percent)	1.65%	1.65%
Debt instrument, face amount	$ 1,500,000,000
Foreign exchange rate	1.1141	1.1141
1.650% Notes due 2035 (1.5B Euro 1.1141) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,492,000,000
3.35% Notes Due 2036 (800MM Euro 1.0721)
Non-Current Debt
Stated interest rate (as a percent)	3.35%	3.35%
Debt instrument, face amount	$ 800,000,000
Foreign exchange rate	1.1141	1.1141
3.35% Notes Due 2036 (800MM Euro 1.0721) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 886,000,000
3.35% Notes Due 2036 (800MM Euro 1.0721) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 914,000,000
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	$ 902,000,000
3.587% Notes due 2036 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 936,000,000
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	$ 1,157,000,000
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	$ 1,395,000,000
3.625% Notes due 2037 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,393,000,000
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	$ 897,000,000
5.85% Notes due 2038
Non-Current Debt
Stated interest rate (as a percent)	5.85%	5.85%
5.85% Notes due 2038 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 697,000,000
5.85% Notes due 2038 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 804,000,000
4.50% Notes due 2040
Non-Current Debt
Stated interest rate (as a percent)	4.50%	4.50%
4.50% Notes due 2040 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 541,000,000
4.50% Notes due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 553,000,000
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	$ 885,000,000
2.10% Notes due 2040 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 726,000,000
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	$ 313,000,000
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	$ 501,000,000
3.55% Notes Due 2044 (1.0B Euro 1.0721)
Non-Current Debt
Stated interest rate (as a percent)	3.55%	3.55%
Debt instrument, face amount	$ 1,000,000,000
Foreign exchange rate	1.1141	1.1141
3.55% Notes Due 2044 (1.0B Euro 1.0721) | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 1,104,000,000
3.55% Notes Due 2044 (1.0B Euro 1.0721) | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 1,140,000,000
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	$ 1,747,000,000
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	$ 868,000,000
3.75% Notes due 2047 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 873,000,000
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	$ 744,000,000
3.50% Notes due 2048 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 628,000,000
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	$ 859,000,000
2.25% Notes due 2050 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 648,000,000
5.25% Notes due 2054
Non-Current Debt
Stated interest rate (as a percent)	5.25%	5.25%
5.25% Notes due 2054 | Carrying Amount
Non-Current Debt
Non-Current Debt	$ 843,000,000
5.25% Notes due 2054 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 921,000,000
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	$ 1,107,000,000
2.45% Notes due 2060 | Estimated Fair Value
Non-Current Debt
Non-Current Debt	782,000,000
Other | Carrying Amount
Non-Current Debt
Non-Current Debt	71,000,000
Other | Estimated Fair Value
Non-Current Debt
Non-Current Debt	$ 71,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Jul. 11, 2024
Income Tax Contingency
Worldwide effective income tax rate (as a percent)	16.90%	10.20%
Effective income tax rate reconciliation, tax settlement, percent	23%	23%
Unrecognized tax benefits	$ 2,400
Current unrecognized tax benefits and interest	400
Yellow Jersey Therapeutics
Income Tax Contingency
Acquired in-process research and development			$ 1,250
Talc | Consumer
Income Tax Contingency
Litigation expense	$ 5,100	$ 7,000

Pensions and Other Benefit Pl_3

Pensions and Other Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Retirement Plans
Components of net periodic benefit cost
Service cost	$ 225	$ 209	$ 671	$ 634
Interest cost	351	361	1,054	1,084
Expected return on plan assets	(643)	(680)	(1,924)	(2,042)
Amortization of prior service cost/‍(credit)	(46)	(47)	(138)	(139)
Recognized actuarial (gains)/losses	43	(50)	130	(150)
Curtailments and settlements	6	109	(2)	109
Net periodic benefit cost/(credit)	(64)	(98)	(209)	(504)
Other Benefit Plans
Components of net periodic benefit cost
Service cost	69	61	207	198
Interest cost	53	51	157	160
Expected return on plan assets	(2)	(1)	(5)	(4)
Amortization of prior service cost/‍(credit)	0	0	(1)	(1)
Recognized actuarial (gains)/losses	13	4	39	17
Curtailments and settlements	0	(4)	0	(4)
Net periodic benefit cost/(credit)	$ 133	$ 111	$ 397	$ 366

Pensions and Other Benefit Pl_4

Pensions and Other Benefit Plans (Details) $ in Millions	9 Months Ended
	Sep. 29, 2024 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 94
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 10

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) $ in Millions	9 Months Ended
	Sep. 29, 2024 USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 68,774
Net change	5
Ending balance	70,158
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(10,149)
Net change	197
Ending balance	(9,952)
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	70
Ending balance	(1,930)
Gain/ (Loss) On Derivatives & Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(377)
Net change	(264)
Ending balance	(641)
Total Accumulated Other Comprehensive Income/(Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(12,527)
Ending balance	$ (12,522)

Earnings Per Share (Details)

Earnings Per Share (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Reconciliation of basic net earnings per share to diluted net earnings per share
Continuing operations - basic (in dollars per share)	$ 1.12	$ 1.71	$ 4.42	$ 3.57
Discontinued operations - basic (in dollars per share)	0	8.61	0	8.51
Total net earnings per share - basic (in dollars per share)	$ 1.12	$ 10.32	$ 4.42	$ 12.08
Average shares outstanding — basic	2,407,200,000	2,522,900,000	2,407,400,000	2,575,600,000
Potential shares exercisable under stock option plans	89,100,000	119,200,000	78,800,000	96,900,000
Less: shares which could be repurchased under treasury stock method	(68,400,000)	(92,400,000)	(56,700,000)	(69,100,000)
Average shares outstanding — diluted	2,427,900,000	2,549,700,000	2,429,500,000	2,603,400,000
Continuing operations - diluted (in dollars per share)	$ 1.11	$ 1.69	$ 4.38	$ 3.53
Discontinued operations - diluted (in dollars per share)	0	8.52	0	8.42
Total net earnings per share - diluted (in dollars per share)	$ 1.11	$ 10.21	$ 4.38	$ 11.95
Antidilutive securities excluded from computation of earnings per share, amount	43	16.4	54.2	42.9

Segments of Business and Geog_3

Segments of Business and Geographic Areas - Narrative (Details)	9 Months Ended
	Sep. 29, 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		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Sales by segment of business
Sales to customers	$ 22,471	$ 21,351	$ 66,301	$ 63,764
Percent Change (as a percent)	5.20%		4%
U.S.
Sales by segment of business
Sales to customers	$ 12,909	11,996	$ 37,098	34,435
Percent Change (as a percent)	7.60%		7.70%
International
Sales by segment of business
Sales to customers	$ 9,562	9,355	$ 29,203	29,329
Percent Change (as a percent)	2.20%		(0.40%)
Innovative Medicine
Sales by segment of business
Sales to customers	$ 14,580	13,893	$ 42,632	41,037
Percent Change (as a percent)	4.90%		3.90%
Innovative Medicine | U.S.
Sales by segment of business
Sales to customers	$ 8,871	8,249	$ 24,993	23,090
Percent Change (as a percent)	7.50%		8.20%
Innovative Medicine | International
Sales by segment of business
Sales to customers	$ 5,709	5,644	$ 17,639	17,947
Percent Change (as a percent)	1.20%		(1.70%)
Innovative Medicine | Immunology
Sales by segment of business
Sales to customers	$ 4,621	4,849	$ 13,590	13,457
Percent Change (as a percent)	(4.70%)		1%
Innovative Medicine | Immunology | U.S.
Sales by segment of business
Sales to customers	$ 3,068	3,193	$ 8,499	8,506
Percent Change (as a percent)	(3.90%)		(0.10%)
Innovative Medicine | Immunology | International
Sales by segment of business
Sales to customers	$ 1,552	1,656	$ 5,090	4,951
Percent Change (as a percent)	(6.20%)		2.80%
Innovative Medicine | Immunology | REMICADE
Sales by segment of business
Sales to customers	$ 419	461	$ 1,246	1,410
Percent Change (as a percent)	(9.10%)		(11.60%)
Innovative Medicine | Immunology | REMICADE | U.S.
Sales by segment of business
Sales to customers	$ 281	296	$ 778	849
Percent Change (as a percent)	(5.40%)		(8.50%)
Innovative Medicine | Immunology | REMICADE | U.S. Exports
Sales by segment of business
Sales to customers	$ 27	38	$ 89	112
Percent Change (as a percent)	(28.90%)		(20.50%)
Innovative Medicine | Immunology | REMICADE | International
Sales by segment of business
Sales to customers	$ 112	127	$ 380	449
Percent Change (as a percent)	(11.50%)		(15.40%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA
Sales by segment of business
Sales to customers	$ 516	629	$ 1,607	1,695
Percent Change (as a percent)	(18.00%)		(5.20%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA | U.S.
Sales by segment of business
Sales to customers	$ 299	310	$ 820	866
Percent Change (as a percent)	(3.70%)		(5.30%)
Innovative Medicine | Immunology | SIMPONI / SIMPONI ARIA | International
Sales by segment of business
Sales to customers	$ 218	319	$ 787	829
Percent Change (as a percent)	(31.80%)		(5.10%)
Innovative Medicine | Immunology | STELARA
Sales by segment of business
Sales to customers	$ 2,676	2,864	$ 8,012	8,105
Percent Change (as a percent)	(6.60%)		(1.20%)
Innovative Medicine | Immunology | STELARA | U.S.
Sales by segment of business
Sales to customers	$ 1,770	1,912	$ 5,021	5,180
Percent Change (as a percent)	(7.50%)		(3.10%)
Innovative Medicine | Immunology | STELARA | International
Sales by segment of business
Sales to customers	$ 906	951	$ 2,991	2,925
Percent Change (as a percent)	(4.80%)		2.20%
Innovative Medicine | Immunology | TREMFYA
Sales by segment of business
Sales to customers	$ 1,007	891	$ 2,721	2,237
Percent Change (as a percent)	13%		21.60%
Innovative Medicine | Immunology | TREMFYA | U.S.
Sales by segment of business
Sales to customers	$ 691	634	$ 1,789	1,490
Percent Change (as a percent)	9.10%		20.10%
Innovative Medicine | Immunology | TREMFYA | International
Sales by segment of business
Sales to customers	$ 316	258	$ 932	747
Percent Change (as a percent)	22.60%		24.70%
Innovative Medicine | Immunology | OTHER IMMUNOLOGY
Sales by segment of business
Sales to customers	$ 1	2	$ 3	9
Percent Change (as a percent)	(45.60%)		(66.80%)
Innovative Medicine | Immunology | OTHER IMMUNOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 1	2	$ 3	9
Percent Change (as a percent)	(45.60%)		(66.80%)
Innovative Medicine | Immunology | OTHER IMMUNOLOGY | International
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0%		0%
Innovative Medicine | Infectious Diseases
Sales by segment of business
Sales to customers	$ 836	859	$ 2,622	3,566
Percent Change (as a percent)	(2.70%)		(26.50%)
Innovative Medicine | Infectious Diseases | U.S.
Sales by segment of business
Sales to customers	$ 365	360	$ 1,023	1,147
Percent Change (as a percent)	1.50%		(10.80%)
Innovative Medicine | Infectious Diseases | International
Sales by segment of business
Sales to customers	$ 471	500	$ 1,599	2,420
Percent Change (as a percent)	(5.70%)		(33.90%)
Innovative Medicine | Infectious Diseases | COVID-19
Sales by segment of business
Sales to customers	$ 1	41	$ 198	1,073
Percent Change (as a percent)	(97.70%)		(81.60%)
Innovative Medicine | Infectious Diseases | COVID-19 | U.S.
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0%		0%
Innovative Medicine | Infectious Diseases | COVID-19 | International
Sales by segment of business
Sales to customers	$ 1	41	$ 198	1,073
Percent Change (as a percent)	(97.70%)		(81.60%)
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine
Sales by segment of business
Sales to customers	$ 330	297	$ 950	843
Percent Change (as a percent)	11.50%		12.70%
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine | U.S.
Sales by segment of business
Sales to customers	$ 8	9	$ 24	26
Percent Change (as a percent)	(15.80%)		(10.00%)
Innovative Medicine | Infectious Diseases | EDURANT / rilpivirine | International
Sales by segment of business
Sales to customers	$ 323	287	$ 926	816
Percent Change (as a percent)	12.30%		13.50%
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
Sales by segment of business
Sales to customers	$ 449	447	$ 1,305	1,415
Percent Change (as a percent)	0.60%		(7.80%)
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | U.S.
Sales by segment of business
Sales to customers	$ 355	345	$ 990	1,105
Percent Change (as a percent)	2.80%		(10.50%)
Innovative Medicine | Infectious Diseases | PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | International
Sales by segment of business
Sales to customers	$ 94	102	$ 315	310
Percent Change (as a percent)	(6.90%)		1.80%
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES
Sales by segment of business
Sales to customers	$ 55	74	$ 169	235
Percent Change (as a percent)	(25.40%)		(28.00%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES | U.S.
Sales by segment of business
Sales to customers	$ 3	5	$ 10	15
Percent Change (as a percent)	(52.20%)		(37.70%)
Innovative Medicine | Infectious Diseases | OTHER INFECTIOUS DISEASES | International
Sales by segment of business
Sales to customers	$ 53	69	$ 160	220
Percent Change (as a percent)	(23.20%)		(27.40%)
Innovative Medicine | Neuroscience
Sales by segment of business
Sales to customers	$ 1,755	1,742	$ 5,340	5,339
Percent Change (as a percent)	0.80%		0%
Innovative Medicine | Neuroscience | U.S.
Sales by segment of business
Sales to customers	$ 1,094	1,036	$ 3,250	3,043
Percent Change (as a percent)	5.60%		6.80%
Innovative Medicine | Neuroscience | International
Sales by segment of business
Sales to customers	$ 662	706	$ 2,090	2,296
Percent Change (as a percent)	(6.20%)		(8.90%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate
Sales by segment of business
Sales to customers	$ 142	189	$ 482	603
Percent Change (as a percent)	(24.80%)		(20.00%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate | U.S.
Sales by segment of business
Sales to customers	$ 26	57	$ 101	191
Percent Change (as a percent)	(55.00%)		(47.50%)
Innovative Medicine | Neuroscience | CONCERTA / methylphenidate | International
Sales by segment of business
Sales to customers	$ 117	133	$ 382	412
Percent Change (as a percent)	(11.90%)		(7.30%)
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
Sales by segment of business
Sales to customers	$ 1,049	1,029	$ 3,159	3,104
Percent Change (as a percent)	1.90%		1.80%
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | U.S.
Sales by segment of business
Sales to customers	$ 780	730	$ 2,329	2,164
Percent Change (as a percent)	6.80%		7.60%
Innovative Medicine | Neuroscience | INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | International
Sales by segment of business
Sales to customers	$ 269	299	$ 830	940
Percent Change (as a percent)	(10.10%)		(11.70%)
Innovative Medicine | Neuroscience | SPRAVATO
Sales by segment of business
Sales to customers	$ 284	183	$ 780	483
Percent Change (as a percent)	54.90%		61.50%
Innovative Medicine | Neuroscience | SPRAVATO | U.S.
Sales by segment of business
Sales to customers	$ 243	154	$ 660	409
Percent Change (as a percent)	56.80%		61.20%
Innovative Medicine | Neuroscience | SPRAVATO | International
Sales by segment of business
Sales to customers	$ 42	29	$ 120	74
Percent Change (as a percent)	44.60%		62.90%
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE
Sales by segment of business
Sales to customers	$ 281	340	$ 920	1,149
Percent Change (as a percent)	(17.40%)		(19.90%)
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE | U.S.
Sales by segment of business
Sales to customers	$ 46	94	$ 161	278
Percent Change (as a percent)	(51.40%)		(42.10%)
Innovative Medicine | Neuroscience | OTHER NEUROSCIENCE | International
Sales by segment of business
Sales to customers	$ 235	245	$ 759	870
Percent Change (as a percent)	(4.40%)		(12.80%)
Innovative Medicine | Oncology
Sales by segment of business
Sales to customers	$ 5,380	4,533	$ 15,284	13,043
Percent Change (as a percent)	18.70%		17.20%
Innovative Medicine | Oncology | U.S.
Sales by segment of business
Sales to customers	$ 2,816	2,219	$ 7,835	6,177
Percent Change (as a percent)	26.90%		26.80%
Innovative Medicine | Oncology | International
Sales by segment of business
Sales to customers	$ 2,565	2,313	$ 7,450	6,865
Percent Change (as a percent)	10.90%		8.50%
Innovative Medicine | Oncology | CARVYKTI
Sales by segment of business
Sales to customers	$ 286	152	$ 629	341
Percent Change (as a percent)	87.70%		84.30%
Innovative Medicine | Oncology | CARVYKTI | U.S.
Sales by segment of business
Sales to customers	$ 258	140	$ 565	324
Percent Change (as a percent)	84.90%		74.60%
Innovative Medicine | Oncology | CARVYKTI | International
Sales by segment of business
Sales to customers	$ 27	12	$ 63	17
Innovative Medicine | Oncology | DARZALEX
Sales by segment of business
Sales to customers	$ 3,016	2,499	$ 8,586	7,194
Percent Change (as a percent)	20.70%		19.30%
Innovative Medicine | Oncology | DARZALEX | U.S.
Sales by segment of business
Sales to customers	$ 1,684	1,369	$ 4,789	3,882
Percent Change (as a percent)	23%		23.40%
Innovative Medicine | Oncology | DARZALEX | International
Sales by segment of business
Sales to customers	$ 1,332	1,130	$ 3,797	3,312
Percent Change (as a percent)	17.90%		14.60%
Innovative Medicine | Oncology | ERLEADA
Sales by segment of business
Sales to customers	$ 790	631	$ 2,215	1,740
Percent Change (as a percent)	25.40%		27.30%
Innovative Medicine | Oncology | ERLEADA | U.S.
Sales by segment of business
Sales to customers	$ 337	288	$ 940	778
Percent Change (as a percent)	17.10%		20.80%
Innovative Medicine | Oncology | ERLEADA | International
Sales by segment of business
Sales to customers	$ 453	342	$ 1,275	961
Percent Change (as a percent)	32.40%		32.60%
Innovative Medicine | Oncology | IMBRUVICA
Sales by segment of business
Sales to customers	$ 753	808	$ 2,307	2,476
Percent Change (as a percent)	(6.80%)		(6.80%)
Innovative Medicine | Oncology | IMBRUVICA | U.S.
Sales by segment of business
Sales to customers	$ 259	264	$ 770	796
Percent Change (as a percent)	(1.90%)		(3.20%)
Innovative Medicine | Oncology | IMBRUVICA | International
Sales by segment of business
Sales to customers	$ 494	545	$ 1,537	1,681
Percent Change (as a percent)	(9.20%)		(8.50%)
Innovative Medicine | Oncology | Tecvayli
Sales by segment of business
Sales to customers	$ 135	112	$ 403	269
Percent Change (as a percent)	20.60%		49.60%
Innovative Medicine | Oncology | Tecvayli | U.S.
Sales by segment of business
Sales to customers	$ 105	93	$ 310	232
Percent Change (as a percent)	13.50%		34%
Innovative Medicine | Oncology | Tecvayli | International
Sales by segment of business
Sales to customers	$ 30	19	$ 93	37
Percent Change (as a percent)	54.20%
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate
Sales by segment of business
Sales to customers	$ 150	214	$ 496	686
Percent Change (as a percent)	(30.00%)		(27.80%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate | U.S.
Sales by segment of business
Sales to customers	$ 5	16	$ 25	41
Percent Change (as a percent)	(66.00%)		(38.00%)
Innovative Medicine | Oncology | ZYTIGA / abiraterone acetate | International
Sales by segment of business
Sales to customers	$ 144	199	$ 470	646
Percent Change (as a percent)	(27.10%)		(27.10%)
Innovative Medicine | Oncology | OTHER ONCOLOGY
Sales by segment of business
Sales to customers	$ 250	117	$ 649	336
Percent Change (as a percent)			93.40%
Innovative Medicine | Oncology | OTHER ONCOLOGY | U.S.
Sales by segment of business
Sales to customers	168	50	$ 435	125
Innovative Medicine | Oncology | OTHER ONCOLOGY | International
Sales by segment of business
Sales to customers	$ 83	67	$ 214	211
Percent Change (as a percent)	24.80%		2%
Innovative Medicine | Pulmonary Hypertension
Sales by segment of business
Sales to customers	$ 1,102	954	$ 3,190	2,798
Percent Change (as a percent)	15.60%		14%
Innovative Medicine | Pulmonary Hypertension | U.S.
Sales by segment of business
Sales to customers	$ 815	680	$ 2,324	1,964
Percent Change (as a percent)	20%		18.40%
Innovative Medicine | Pulmonary Hypertension | International
Sales by segment of business
Sales to customers	$ 287	274	$ 866	835
Percent Change (as a percent)	4.50%		3.70%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT
Sales by segment of business
Sales to customers	$ 571	490	$ 1,639	1,437
Percent Change (as a percent)	16.80%		14.10%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT | U.S.
Sales by segment of business
Sales to customers	$ 406	323	$ 1,135	924
Percent Change (as a percent)	25.40%		22.80%
Innovative Medicine | Pulmonary Hypertension | OPSUMIT | International
Sales by segment of business
Sales to customers	$ 165	166	$ 504	512
Percent Change (as a percent)	(0.20%)		(1.60%)
Innovative Medicine | Pulmonary Hypertension | UPTRAVI
Sales by segment of business
Sales to customers	$ 458	402	$ 1,352	1,163
Percent Change (as a percent)	14.20%		16.30%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI | U.S.
Sales by segment of business
Sales to customers	$ 379	336	$ 1,120	978
Percent Change (as a percent)	12.70%		14.50%
Innovative Medicine | Pulmonary Hypertension | UPTRAVI | International
Sales by segment of business
Sales to customers	$ 80	66	$ 232	185
Percent Change (as a percent)	21.80%		25.50%
Innovative Medicine | Pulmonary Hypertension | Other
Sales by segment of business
Sales to customers	$ 72	63	$ 199	199
Percent Change (as a percent)	15%		0.30%
Innovative Medicine | Pulmonary Hypertension | Other | U.S.
Sales by segment of business
Sales to customers	$ 32	20	$ 70	61
Percent Change (as a percent)	54%		14%
Innovative Medicine | Pulmonary Hypertension | Other | International
Sales by segment of business
Sales to customers	$ 40	42	$ 129	137
Percent Change (as a percent)	(3.90%)		(5.80%)
Innovative Medicine | Cardiovascular / Metabolism / Other
Sales by segment of business
Sales to customers	$ 884	957	$ 2,605	2,834
Percent Change (as a percent)	(7.60%)		(8.10%)
Innovative Medicine | Cardiovascular / Metabolism / Other | U.S.
Sales by segment of business
Sales to customers	$ 713	763	$ 2,061	2,254
Percent Change (as a percent)	(6.50%)		(8.50%)
Innovative Medicine | Cardiovascular / Metabolism / Other | International
Sales by segment of business
Sales to customers	$ 170	194	$ 543	580
Percent Change (as a percent)	(11.90%)		(6.40%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other
Sales by segment of business
Sales to customers	$ 292	332	$ 908	994
Percent Change (as a percent)	(12.00%)		(8.70%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other | U.S.
Sales by segment of business
Sales to customers	$ 121	139	$ 364	414
Percent Change (as a percent)	(12.20%)		(11.90%)
Innovative Medicine | Cardiovascular / Metabolism / Other | Other | International
Sales by segment of business
Sales to customers	$ 170	194	$ 543	580
Percent Change (as a percent)	(11.90%)		(6.40%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO
Sales by segment of business
Sales to customers	$ 592	625	$ 1,697	1,840
Percent Change (as a percent)	(5.20%)		(7.80%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO | U.S.
Sales by segment of business
Sales to customers	$ 592	625	$ 1,697	1,840
Percent Change (as a percent)	(5.20%)		(7.80%)
Innovative Medicine | Cardiovascular / Metabolism / Other | XARELTO | International
Sales by segment of business
Sales to customers	$ 0	0	$ 0	0
Percent Change (as a percent)	0%		0%
MEDTECH
Sales by segment of business
Sales to customers	$ 7,891	7,458	$ 23,669	22,727
Percent Change (as a percent)	5.80%		4.10%
MEDTECH | U.S.
Sales by segment of business
Sales to customers	$ 4,038	3,747	$ 12,105	11,345
Percent Change (as a percent)	7.80%		6.70%
MEDTECH | International
Sales by segment of business
Sales to customers	$ 3,853	3,711	$ 11,564	11,382
Percent Change (as a percent)	3.90%		1.60%
MEDTECH | Cardiovascular
Sales by segment of business
Sales to customers	$ 1,966	1,558	$ 5,645	4,681
Percent Change (as a percent)	26.20%		20.60%
MEDTECH | Cardiovascular | U.S.
Sales by segment of business
Sales to customers	$ 1,148	891	$ 3,292	2,662
Percent Change (as a percent)	28.60%		23.60%
MEDTECH | Cardiovascular | International
Sales by segment of business
Sales to customers	$ 819	667	$ 2,353	2,019
Percent Change (as a percent)	22.80%		16.50%
MEDTECH | ELECTROPHYSIOLOGY
Sales by segment of business
Sales to customers	$ 1,279	1,161	$ 3,946	3,449
Percent Change (as a percent)	10.20%		14.40%
MEDTECH | ELECTROPHYSIOLOGY | U.S.
Sales by segment of business
Sales to customers	$ 660	611	$ 2,057	1,791
Percent Change (as a percent)	7.90%		14.80%
MEDTECH | ELECTROPHYSIOLOGY | International
Sales by segment of business
Sales to customers	$ 619	549	$ 1,889	1,658
Percent Change (as a percent)	12.70%		14%
MEDTECH | ABIOMED
Sales by segment of business
Sales to customers	$ 362	311	$ 1,112	966
Percent Change (as a percent)	16.30%		15.10%
MEDTECH | ABIOMED | U.S.
Sales by segment of business
Sales to customers	$ 293	254	$ 905	790
Percent Change (as a percent)	15.40%		14.50%
MEDTECH | ABIOMED | International
Sales by segment of business
Sales to customers	$ 68	57	$ 207	176
Percent Change (as a percent)	20.10%		17.70%
MEDTECH | Shockwave
Sales by segment of business
Sales to customers	$ 229	0	$ 306	0
MEDTECH | Shockwave | U.S.
Sales by segment of business
Sales to customers	163	0	240	0
MEDTECH | Shockwave | International
Sales by segment of business
Sales to customers	66	0	66	0
MEDTECH | Other Cardiovascular
Sales by segment of business
Sales to customers	$ 96	87	$ 281	267
Percent Change (as a percent)	10.40%		5.30%
MEDTECH | Other Cardiovascular | U.S.
Sales by segment of business
Sales to customers	$ 30	26	$ 89	81
Percent Change (as a percent)	16.70%		10.60%
MEDTECH | Other Cardiovascular | International
Sales by segment of business
Sales to customers	$ 66	61	$ 192	186
Percent Change (as a percent)	7.70%		3%
MEDTECH | Orthopaedics
Sales by segment of business
Sales to customers	$ 2,191	2,164	$ 6,843	6,674
Percent Change (as a percent)	1.20%		2.50%
MEDTECH | Orthopaedics | U.S.
Sales by segment of business
Sales to customers	$ 1,359	1,349	$ 4,229	4,100
Percent Change (as a percent)	0.70%		3.20%
MEDTECH | Orthopaedics | International
Sales by segment of business
Sales to customers	$ 832	815	$ 2,614	2,574
Percent Change (as a percent)	2%		1.50%
MEDTECH | Orthopaedics | HIPS
Sales by segment of business
Sales to customers	$ 381	375	$ 1,220	1,162
Percent Change (as a percent)	1.70%		5%
MEDTECH | Orthopaedics | HIPS | U.S.
Sales by segment of business
Sales to customers	$ 250	239	$ 785	730
Percent Change (as a percent)	4.80%		7.50%
MEDTECH | Orthopaedics | HIPS | International
Sales by segment of business
Sales to customers	$ 131	136	$ 435	432
Percent Change (as a percent)	(3.60%)		0.60%
MEDTECH | Orthopaedics | KNEES
Sales by segment of business
Sales to customers	$ 352	338	$ 1,147	1,069
Percent Change (as a percent)	4%		7.20%
MEDTECH | Orthopaedics | KNEES | U.S.
Sales by segment of business
Sales to customers	$ 212	207	$ 684	654
Percent Change (as a percent)	2.20%		4.50%
MEDTECH | Orthopaedics | KNEES | International
Sales by segment of business
Sales to customers	$ 140	131	$ 463	415
Percent Change (as a percent)	6.90%		11.50%
MEDTECH | Orthopaedics | TRAUMA
Sales by segment of business
Sales to customers	$ 761	742	$ 2,285	2,238
Percent Change (as a percent)	2.60%		2.10%
MEDTECH | Orthopaedics | TRAUMA | U.S.
Sales by segment of business
Sales to customers	$ 497	488	$ 1,499	1,462
Percent Change (as a percent)	1.80%		2.50%
MEDTECH | Orthopaedics | TRAUMA | International
Sales by segment of business
Sales to customers	$ 265	253	$ 786	775
Percent Change (as a percent)	4.20%		1.40%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER
Sales by segment of business
Sales to customers	$ 696	710	$ 2,191	2,205
Percent Change (as a percent)	(1.90%)		(0.60%)
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | U.S.
Sales by segment of business
Sales to customers	$ 400	415	$ 1,262	1,254
Percent Change (as a percent)	(3.60%)		0.60%
MEDTECH | Orthopaedics | SPINE, SPORTS & OTHER | International
Sales by segment of business
Sales to customers	$ 296	295	$ 930	952
Percent Change (as a percent)	0.40%		(2.30%)
MEDTECH | Surgery
Sales by segment of business
Sales to customers	$ 2,434	2,479	$ 7,338	7,507
Percent Change (as a percent)	(1.80%)		(2.20%)
MEDTECH | Surgery | U.S.
Sales by segment of business
Sales to customers	$ 983	994	$ 2,965	2,984
Percent Change (as a percent)	(1.10%)		(0.60%)
MEDTECH | Surgery | International
Sales by segment of business
Sales to customers	$ 1,451	1,483	$ 4,373	4,522
Percent Change (as a percent)	(2.20%)		(3.30%)
MEDTECH | Surgery | ADVANCED
Sales by segment of business
Sales to customers	$ 1,109	1,164	$ 3,337	3,504
Percent Change (as a percent)	(4.70%)		(4.80%)
MEDTECH | Surgery | ADVANCED | U.S.
Sales by segment of business
Sales to customers	$ 448	455	$ 1,360	1,365
Percent Change (as a percent)	(1.40%)		(0.40%)
MEDTECH | Surgery | ADVANCED | International
Sales by segment of business
Sales to customers	$ 661	709	$ 1,977	2,139
Percent Change (as a percent)	(6.80%)		(7.60%)
MEDTECH | Surgery | GENERAL
Sales by segment of business
Sales to customers	$ 1,325	1,314	$ 4,001	4,002
Percent Change (as a percent)	0.80%		0%
MEDTECH | Surgery | GENERAL | U.S.
Sales by segment of business
Sales to customers	$ 535	540	$ 1,605	1,619
Percent Change (as a percent)	(0.90%)		(0.90%)
MEDTECH | Surgery | GENERAL | International
Sales by segment of business
Sales to customers	$ 791	775	$ 2,397	2,383
Percent Change (as a percent)	2.10%		0.60%
MEDTECH | Vision
Sales by segment of business
Sales to customers	$ 1,300	1,256	$ 3,843	3,864
Percent Change (as a percent)	3.50%		(0.50%)
MEDTECH | Vision | U.S.
Sales by segment of business
Sales to customers	$ 549	512	$ 1,619	1,599
Percent Change (as a percent)	7.20%		1.30%
MEDTECH | Vision | International
Sales by segment of business
Sales to customers	$ 751	744	$ 2,224	2,265
Percent Change (as a percent)	0.90%		(1.80%)
MEDTECH | Vision | CONTACT LENSES / OTHER
Sales by segment of business
Sales to customers	$ 968	928	$ 2,796	2,820
Percent Change (as a percent)	4.20%		(0.90%)
MEDTECH | Vision | CONTACT LENSES / OTHER | U.S.
Sales by segment of business
Sales to customers	$ 441	399	$ 1,288	1,252
Percent Change (as a percent)	10.20%		2.80%
MEDTECH | Vision | CONTACT LENSES / OTHER | International
Sales by segment of business
Sales to customers	$ 527	529	$ 1,508	1,568
Percent Change (as a percent)	(0.30%)		(3.80%)
MEDTECH | Vision | SURGICAL
Sales by segment of business
Sales to customers	$ 333	328	$ 1,048	1,044
Percent Change (as a percent)	1.30%		0.30%
MEDTECH | Vision | SURGICAL | U.S.
Sales by segment of business
Sales to customers	$ 108	112	$ 331	346
Percent Change (as a percent)	(3.60%)		(4.40%)
MEDTECH | Vision | SURGICAL | International
Sales by segment of business
Sales to customers	$ 225	$ 216	$ 717	$ 698
Percent Change (as a percent)	3.90%		2.70%

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		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Segment Reporting Information [Line Items]
Worldwide income (loss) before tax	$ 3,338	$ 5,217	$ 12,800	$ 10,236
Percent Change	(36.00%)		25%
Charge for purchase of in-process research and development assets			$ 1,252	0
Proceeds from Royalties Received	$ 300		300
Restructuring charges	41	158	192	433
Loss on shares outstanding		600	400
Yellow Jersey Therapeutics
Segment Reporting Information [Line Items]
Charge for purchase of in-process research and development assets	1,250		1,250
Baby Powder | Talc
Segment Reporting Information [Line Items]
Loss contingency, loss in period	2,000		5,100	7,000
Innovative Medicine
Segment Reporting Information [Line Items]
Restructuring charges		100	100	400
Impairment of intangible assets		200	200	200
Changes in the fair value of securities gain (loss)		(400)		(500)
Litigation expense	400		400
Gain related to litigation settlement				100
MedTech
Segment Reporting Information [Line Items]
Restructuring charges		200	100	200
Acquisition related costs	300		900	100
Gain from divestiture of business			200
Operating Segments
Segment Reporting Information [Line Items]
Total segment operating income	$ 5,541	5,979	$ 18,578	18,273
Percent Change	(7.30%)		1.70%
Restructuring charges	$ 47	384	$ 207	659
Operating Segments | Innovative Medicine
Segment Reporting Information [Line Items]
Total segment operating income	$ 4,482	4,794	$ 14,910	14,008
Percent Change	(6.50%)		6.40%
Amortization	$ 700	700	$ 2,100	2,200
Other cost of operating revenue		100		700
Restructuring charges	19	149	100	424
Operating Segments | MedTech
Segment Reporting Information [Line Items]
Total segment operating income	$ 1,059	1,185	$ 3,668	4,265
Percent Change	(10.60%)		(14.00%)
Amortization	$ 500	400	$ 1,300	1,100
Restructuring charges	28	235	107	235
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total segment operating income	$ 2,203	$ 762	$ 5,778	$ 8,037

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		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Sales by geographic area
Sales	$ 22,471	$ 21,351	$ 66,301	$ 63,764
Percent Change	5.20%		4%
United States
Sales by geographic area
Sales	$ 12,909	11,996	$ 37,098	34,435
Percent Change	7.60%		7.70%
Europe
Sales by geographic area
Sales	$ 4,914	4,727	$ 15,291	15,448
Percent Change	4%		(1.00%)
Western Hemisphere, excluding U.S.
Sales by geographic area
Sales	$ 1,173	1,171	$ 3,579	3,383
Percent Change	0.30%		5.80%
Asia-Pacific, Africa
Sales by geographic area
Sales	$ 3,475	$ 3,457	$ 10,333	$ 10,498
Percent Change	0.50%		(1.60%)

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended		9 Months Ended
	Oct. 08, 2024	Jul. 11, 2024	Jun. 20, 2024	May 31, 2024	Sep. 29, 2024	Jun. 30, 2024	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Payments to acquire businesses							$ 15,145	$ 0
Goodwill, related to acquisitions							8,187
Contingent consideration					$ 1,222		1,222		$ 1,092
Proceeds from sale of business					300	$ 200
Yellow Jersey Therapeutics
Business Acquisition [Line Items]
Asset acquisition, consideration transferred		$ 1,250
Acquired in-process research and development		$ 1,250
V-Wave Ltd. | Subsequent Event
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	$ 600
Acquired in-process research and development	600
Maximum | V-Wave Ltd. | Subsequent Event
Business Acquisition [Line Items]
Asset acquisition, consideration transferred	$ 1,100
Proteologix
Business Acquisition [Line Items]
Payments to acquire businesses			$ 800
Assets acquired			1,200
IPR&D			900
Goodwill, related to acquisitions			300
Liabilities assumed			300
Contingent consideration			$ 100
Discount rate			16%
Acquisition related costs					0
Proteologix | Minimum
Business Acquisition [Line Items]
Probability of success factor			30%
Proteologix | Maximum
Business Acquisition [Line Items]
Probability of success factor			45%
Shockwave Medical, Inc.
Business Acquisition [Line Items]
Assets acquired				$ 15,500	15,500		15,500
IPR&D				600	600		600
Liabilities assumed				$ 2,900	2,900		2,900
Discount rate				9%
Acquisition related costs					200		700
Acquisition related costs, equity awards							400
Share price (in dollars per share)				$ 335
Consideration transferred				$ 200
Weighted average useful life				14 years
Deferred taxes				$ 1,500	1,500		1,500
Shockwave Medical, Inc. | Minimum
Business Acquisition [Line Items]
Probability of success factor				50%
Ambrx
Business Acquisition [Line Items]
Payments to acquire businesses					1,800
Assets acquired					2,300		2,300
IPR&D					1,900		1,900
Goodwill, related to acquisitions							300
Liabilities assumed					$ 500		$ 500
Discount rate					17%		17%
Share price (in dollars per share)					$ 28		$ 28
Consideration transferred					$ 2,000
Deferred taxes					$ 400		$ 400
Ambrx | Minimum
Business Acquisition [Line Items]
Probability of success factor					40%		40%
Ambrx | Maximum
Business Acquisition [Line Items]
Probability of success factor					70%		70%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Schedule of Preliminary Amounts Recognized for Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	1 Months Ended
	Jun. 29, 2024	Sep. 29, 2024	Jun. 30, 2024	May 31, 2024	Dec. 31, 2023
Assets acquired:
Goodwill (Note 3)		$ 44,799			$ 36,558
Shockwave Medical, Inc.
Assets acquired:
Cash		1,100		$ 1,100
Goodwill (Note 3)		7,600		7,500
Amortizable intangibles		5,300		5,300
IPR&D		600		600
Inventory		500		500
Other assets		400		500
Total assets acquired		15,500		15,500
Liabilities assumed:
Deferred taxes		1,500		1,500
Notes payable assumed		1,000		1,000
Accrued liabilities assumed		400		400
Total liabilities assumed		2,900		2,900
Net assets acquired		12,600	$ 13,100	12,600
Less: Cash acquired		$ (1,100)		$ (1,100)
Equity awards settled	$ 600
Settlement of notes payable	$ 1,000

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions

1 Months Ended

3 Months Ended

Sep. 20, 2024 USD ($)

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 ($)

Sep. 29, 2024 USD ($) claim claimant

Jul. 03, 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

20

Product liability contingency, number of claimants | claimant

3,500

Loss contingency accrual, payment percentage

70%

Pending claims, number, remaining | claim

390

Loss contingency pending claims, number, additional | claim

3

Physiomesh

Legal Proceeding (Textuals)

Product liability contingency, number of claimants | claimant

160

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

Talc

Legal Proceeding (Textuals)

Product liability contingency, number of claimants | claimant

62,740

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)

Solicitation period

3 months

Litigation contingency

$ 6,475

Payment period

25 years

Damages sought, nominal value

$ 8,000

Bankruptcy loss contingency, discount rate

4.40%

Total claims against company, percent

99.75%

Increase in damages sought

$ 1,750

Incremental charges

$ 5,000

Loss contingency accrual

12,000

Loss contingency accrual, nominal value

$ 13,900

Mesothelioma and State Claims

Legal Proceeding (Textuals)

Claims settled, percent

95%

Legal Proceedings - Product Lia

Legal Proceedings - Product Liability (Details)	Sep. 29, 2024 claimant
Talc
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	62,740
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	910
Pelvic Meshes
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	6,190
Physiomesh
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	160
Risperdal
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	10
Elmiron
Loss Contingencies [Line Items]
Product liability contingency, number of claimants	2,170

Kenvue Separation - Net Earning

Kenvue Separation - Net Earnings from Discontinued Operation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
Sales to customers		$ 2,173		$ 10,036
Cost of products sold		911		4,369
Gross profit		1,262		5,667
Selling, marketing and administrative expenses		584		3,085
Research and development expense		24		258
Interest Income		(37)		(117)
Interest expense, net of portion capitalized		67		199
Other (income) expense, net		406		1,018
(Gain) on Kenvue Separation	$ (20,984)	(20,984)	$ 0	(20,984)
Earnings from Discontinued Operations Before Provision for Taxes on Income		21,202		22,208
Provision for taxes on income		(517)		298
Net earnings from Discontinued Operations		$ 21,719		$ 21,910

Kenvue Separation - Depreciatio

Kenvue Separation - Depreciation and Amortization of Discontinued Operation (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 01, 2023	Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and Amortization	$ 81	$ 383
Capital expenditures	$ 23	$ 162

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 41	$ 158	$ 192	$ 433
R&D Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	100	100	400
Restructuring charges recorded to date	600		600
Orthopedics Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	$ 200	100	$ 200
Restructuring charges recorded to date	400		400
Orthopedics Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	700		700
Orthopedics Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring estimated cost	$ 800		$ 800

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 41	$ 158	$ 192	$ 433
Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	47	384	207	659
Innovative Medicine
Restructuring Cost and Reserve [Line Items]
Restructuring charges		100	100	400
Innovative Medicine | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	19	149	100	424
MEDTECH
Restructuring Cost and Reserve [Line Items]
Restructuring charges		200	100	200
MEDTECH | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	28	235	107	235
MEDTECH | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges	22	9	92	9
MEDTECH | Costs of Goods and Services Sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6	$ 226	$ 15	$ 226