St. Jude Medical (STJ) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 04, 2015	Jul. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 4, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	ST JUDE MEDICAL INC
Entity Central Index Key	203,077
Current Fiscal Year End Date	--01-02
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		281,744,682

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Income Statement [Abstract]
Net sales	$ 1,410	$ 1,448	$ 2,755	$ 2,811
Cost of sales:
Cost of sales before special charges	419	407	812	789
Special charges	5	26	7	27
Total cost of sales	424	433	819	816
Gross profit	986	1,015	1,936	1,995
Selling, general and administrative expense	447	502	877	946
Research and development expense	171	178	338	348
Amortization of intangible assets	24	21	48	42
Special charges	30	25	34	58
Operating profit	314	289	639	601
Interest income	0	(1)	(1)	(2)
Interest expense	20	21	41	42
Other (income) expense	0	1	(3)	1
Other expense, net	20	21	37	41
Earnings before income taxes and noncontrolling interest	294	268	602	560
Income tax expense	12	22	64	75
Net earnings before noncontrolling interest	282	246	538	485
Less: Net loss attributable to noncontrolling interest	(8)	(24)	(14)	(34)
Net earnings attributable to St. Jude Medical, Inc.	$ 290	$ 270	$ 552	$ 519
Net earnings per share attributable to St. Jude Medical, Inc.:
Basic (USD per share)	$ 1.03	$ 0.95	$ 1.96	$ 1.83
Diluted (USD per share)	1.02	0.93	1.93	1.80
Cash dividends declared per share (USD per share)	$ 0.29	$ 0.27	$ 0.58	$ 0.27
Weighted average shares outstanding:
Basic (in shares)	281.1	284.2	282	284.3
Diluted (in shares)	285.5	288.9	286.3	289.1

Condensed Consolidated Stateme3

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Statement of Comprehensive Income [Abstract]
Net earnings before noncontrolling interest	$ 282	$ 246	$ 538	$ 485
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on available-for-sale securities, net of taxes of $1 million, $0 million, $1 million and $0 million, respectively	(4)	1	(3)	1
Unrealized gain (loss) on derivative financial instruments, net of taxes of $2 million, $0 million, ($3 million) and $0 million, respectively	(17)	0	12	0
Foreign currency translation adjustment	30	(20)	(97)	(10)
Other comprehensive income (loss), net of tax	9	(19)	(88)	(9)
Total comprehensive income before noncontrolling interest	291	227	450	476
Total comprehensive loss attributable to noncontrolling interest	(8)	(24)	(14)	(34)
Total comprehensive income attributable to St. Jude Medical, Inc.	$ 299	$ 251	$ 464	$ 510

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Statement of Comprehensive Income [Abstract]
Tax (expense) benefit on related to increase (decrease) in accumulated gain (loss) from unrealized gain (loss) on available-for-sale securities	$ 1	$ 0	$ 1	$ 0
Tax (expense) benefit on related to increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges	$ 2	$ 0	$ (3)	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
ASSETS
Cash and cash equivalents	$ 910	$ 1,442
Accounts receivable, less allowance for doubtful accounts of $56 million and $53 million at July 4, 2015 and January 3, 2015, respectively	1,240	1,215
Finished goods	559	543
Work in process	80	77
Raw materials	178	164
Inventories	817	784
Other current assets	459	473
Total current assets	3,426	3,914
Property, plant and equipment, at cost	2,748	2,775
Less: Accumulated depreciation	(1,450)	(1,432)
Net property, plant and equipment	1,298	1,343
Goodwill	3,520	3,532
Intangible assets, net	801	851
Other assets	589	567
TOTAL ASSETS	9,634	10,207
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current debt obligations	1,979	1,593
Accounts payable	179	151
Income taxes payable	0	60
Other current liabilities	856	862
Total current liabilities	3,014	2,666
Long-term debt	1,762	2,273
Other liabilities	1,017	1,024
Total liabilities	5,793	5,963
Commitments and Contingencies (Note 3)	0	0
Shareholders’ Equity
Preferred stock ($1.00 par value; 25,000,000 shares authorized; none outstanding)	0	0
Common stock ($0.10 par value; 500,000,000 shares authorized; 281,495,754 and 286,659,901 shares issued and outstanding at July 4, 2015 and January 3, 2015, respectively)	28	29
Additional paid-in capital	27	118
Retained earnings	4,047	4,225
Accumulated other comprehensive income (loss)	(261)	(173)
Total shareholders' equity before noncontrolling interest	3,841	4,199
Noncontrolling interest	0	45
Total shareholders’ equity	3,841	4,244
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 9,634	$ 10,207

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Statement of Financial Position [Abstract]
Accounts receivable allowance for doubtful accounts	$ 56	$ 53
Preferred stock, par value (USD per share)	$ 1	$ 1
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (USD per share)	$ 0.1	$ 0.1
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	281,495,754	286,659,901
Common stock, shares outstanding	281,495,754	286,659,901

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
OPERATING ACTIVITIES
Net earnings before noncontrolling interest	$ 538	$ 485
Adjustments to reconcile net earnings before noncontrolling interest to net cash from operating activities:
Depreciation of property, plant and equipment	108	110
Amortization of intangible assets	48	42
Stock-based compensation	37	34
Deferred income taxes	(17)	4
Other, net	(67)	8
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable	(87)	(14)
Inventories	(53)	(93)
Other current and noncurrent assets	(11)	15
Accounts payable and accrued expenses	(35)	(48)
Income taxes payable	(20)	21
Net cash provided by operating activities	441	564
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(80)	(91)
Proceeds from sale of investments	8	4
Other investing activities, net	(4)	0
Net cash used in investing activities	(76)	(87)
FINANCING ACTIVITIES
Proceeds from exercise of stock options and stock issued, net	89	78
Excess tax benefits from stock issued under employee stock plans	14	12
Common stock repurchased, including related costs	(500)	(476)
Dividends paid	(158)	(149)
Issuances (payments) of commercial paper borrowings, net	460	622
Borrowings under debt facilities	175	0
Payments under debt facilities	(750)	0
Purchase of shares from noncontrolling interest	(173)	(344)
Other financing activities, net	(15)	(12)
Net cash used in financing activities	(858)	(269)
Effect of currency exchange rate changes on cash and cash equivalents	(39)	(1)
Net increase (decrease) in cash and cash equivalents	(532)	207
Cash and cash equivalents at beginning of period	1,442	1,373
Cash and cash equivalents at end of period	$ 910	$ 1,580

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Jul. 04, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	BASIS OF PRESENTATION Principles of Consolidation: The accompanying unaudited Condensed Consolidated Financial Statements of St. Jude Medical, Inc. (St. Jude Medical or the Company) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (U.S. generally accepted accounting principles) for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the Company’s consolidated results of operations, financial position and cash flows. The Condensed Consolidated Balance Sheet at January 3, 2015 was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements. Operating results for any interim period are not necessarily indicative of the results that may be expected for the full year. Preparation of the Company’s financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts in the financial statements and footnotes. Actual results could differ from those estimates. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and footnotes included in its Annual Report on Form 10-K for the fiscal year ended January 3, 2015 . The unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries, and other entities for which St. Jude Medical has a controlling financial interest. The Company operates as a single operating segment and derives its revenues from six principal product categories. Fiscal Year: We utilize a 52/53-week fiscal year ending on the Saturday nearest December 31st. Each of the three-month periods and six-month periods ended July 4, 2015 and June 28, 2014 included 13 weeks and 26 weeks, respectively. Reclassifications: Certain prior period amounts have been reclassified to conform to current year presentation. New Accounting Pronouncements: The following table provides a description of recent accounting pronouncements with potential for a material impact on the Company's financial statements or disclosures. Standard Description Required adoption timing and approach Impact of adoption or other significant matters Standards not yet adopted Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) The standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance will supersede the current revenue recognition requirements. Annual and interim periods beginning after December 15, 2016, with either retrospective or modified retrospective application permitted. Early adoption is not permitted. The Company is evaluating its approach to the adoption and the potential impact to its results of operations and financial position. ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis The standard affects both the variable interest entity and voting interest entity consolidation models. Annual and interim periods beginning after December 15, 2015, with either retrospective or modified retrospective application permitted. Early adoption is permitted. The Company is evaluating its approach to the adoption and the potential impact to its results of operations and financial position. ASU No. 2015-03, Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs The standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Annual and interim periods beginning after December 15, 2015, with retrospective application required. Early adoption is permitted. The Company is evaluating the timing of adoption and the potential impact to its financial position. ASU No. 2015-04, Compensation-Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets The standard permits entities to measure defined benefit plan assets and obligations using the month-end that is closest to the entity’s fiscal year-end and apply that practical expedient consistently from year to year. Annual and interim periods beginning after December 15, 2015, with prospective application required. Early adoption is permitted. The Company plans to early adopt and elect the accounting policy prospectively by using December 31 when it performs its measurements as of January 2, 2016 and for all fiscal years thereafter. The Company does not expect the adoption of this ASU to have a material impact on the Company’s results of operations or financial position. ASU No. 2015-05, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement The standard provides guidance to customers about how to account for cloud computing arrangements when such arrangements include software licenses. Annual and interim periods beginning after December 15, 2015, with either prospective or retrospective application permitted. Early adoption is permitted. The Company is evaluating its approach to the adoption and the potential impact to its results of operations and financial position. ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory The standard requires that inventory within the scope of the guidance be measured at the lower of cost or net realizable value. Annual and interim periods beginning after December 15, 2016, with prospective application required. Early adoption is permitted. The Company is evaluating the timing and the potential impact to its results of operations and financial position.

Debt

Debt	6 Months Ended
	Jul. 04, 2015
Debt Disclosure [Abstract]
Debt	DEBT The carrying value of the Company’s debt, including discounts, the fair value of an interest rate swap agreement and the remaining deferred gain from a terminated interest rate swap agreement, consisted of the following (in millions): July 4, 2015 January 3, 2015 Term loan due June 2015 $ — $ 500 Term loan due August 2015 — 250 Term loan due April 2016 175 — 2.50% senior notes due 2016 503 506 3.25% senior notes due 2023 896 896 4.75% senior notes due 2043 696 696 1.58% Yen-denominated senior notes due 2017 66 68 2.04% Yen-denominated senior notes due 2020 104 107 Yen-denominated credit facilities 52 54 Commercial paper borrowings 1,249 789 Total debt 3,741 3,866 Less: current debt obligations 1,979 1,593 Long-term debt $ 1,762 $ 2,273 Contractual maturities of the Company's debt for the next five fiscal years and thereafter, excluding any discounts or premiums, as of July 4, 2015 are as follows (in millions): Remainder of 2015 2016 2017 2018 2019 After 2019 Expected future minimum principal payments $ 1,249 $ 727 $ 66 $ — $ — $ 1,704 During the first quarter of 2015, the Company repaid its 2 -year, $500 million unsecured term loan due June 2015 and its 364 -day, $250 million unsecured term loan due August 2015. The Company also increased its commercial paper balance to support the Company’s common stock repurchases during the first quarter of 2015. Refer to Note 6 for further information on the Company's common stock repurchases. During the first quarter of 2015, the yen-denominated credit facility that expired in March 2015 for 3.25 billion Japanese Yen (the equivalent of $26 million as of July 4, 2015 ) was automatically extended for a one -year period bearing interest at Yen LIBOR plus 0.25% . Additionally, during the second quarter of 2015, the yen-denominated credit facility that expired in June 2015 for 3.25 billion Japanese Yen (the equivalent of $26 million as of July 4, 2015 ) was automatically extended for a one -year period bearing interest at Yen LIBOR plus 0.27% . During the second quarter of 2015, the Company entered into a 364 -day, $175 million unsecured term loan that matures in April 2016, the proceeds of which were used to acquire the remaining ownership interest in Spinal Modulation, Inc. (Spinal Modulation). These borrowings bear interest at LIBOR plus 0.90% and the Company may repay the term loan at any time.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jul. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Product Liability Litigation Riata® Litigation : On December 17, 2014, the Company entered into an agreement that establishes a private settlement program to resolve the actions, disputes and claims-both filed and unfiled-of certain claimants against St. Jude Medical, Inc. relating to its Riata® and Riata® ST Silicone Defibrillation Leads. The agreement was entered into with a group of counsel representing plaintiffs in proceedings in jurisdictions around the country as well as claimants with Riata leads who have not initiated litigation. St. Jude Medical, Inc. accrued $15 million in the fourth quarter of 2014 to fund the settlement and related costs. The settlement was expected to resolve approximately 950 of the outstanding, pending cases and claims. The time period in which eligible claimants could submit their documentation to participate in the settlement has now closed with the final settlement comprising 886 claimants. The Company made an initial payment of $13 million to the settlement fund in May 2015. Additional contributions to the fund are not expected to be material. Although the majority of the claimants in the aforementioned suits and claims identified no specific injuries, some of the claimants alleged bodily injuries as a result of surgical revision or removal and replacement of Riata® leads, or other complications, which they attribute to the leads. The majority of the claimants who sought recovery for implantation and/or surgical removal of Riata® leads sought compensatory damages in unspecified amounts, and declaratory judgments that the Company is liable to them for any past, present and future evaluative monitoring, and corrective medical, surgical and incidental expenses and losses. Several claimants also sought punitive damages. As of July 31, 2015, the Company is aware of four lawsuits, of more than 70 such suits filed as of December 17, 2014, which were filed by plaintiffs in the U.S. alleging injuries caused by, and asserting product liability claims concerning, Riata® and Riata® ST Silicone Defibrillation Leads where the claimant elected to not participate in the above-described settlement program. Three of the remaining lawsuits are pending in the state courts of Illinois, Kentucky and South Carolina. In May 2015, a new lawsuit was commenced in state court in Florida and was removed to and is now pending in the United States District Court for the Middle District of Florida. In November 2013, an amended claim was filed in a Canadian proposed class proceeding alleging that Riata® leads were prone to insulation abrasion and breach, failure to warn and conspiracy. The plaintiffs took no action between their 2008 filing and the amended claim they filed in November 2013. The Company has filed its statement of intent to defend in response to the amended claims, and the plaintiffs have not taken any further action. The Company is financially responsible for legal costs incurred in the continued defense of the Riata product liability claims, including any potential settlements, judgments and other legal defense costs. The Company believes that a material loss in excess of the accrued amount is not probable and estimable and the Company is not able to estimate a possible loss or range of loss at this time. Securities and Other Shareholder Litigation March 2010 Securities Class Action Litigation: In March 2010, a securities lawsuit seeking class action status was filed in federal district court in Minnesota against the Company and certain officers (collectively, the defendants) on behalf of purchasers of St. Jude Medical common stock between April 22, 2009 and October 6, 2009. The lawsuit related to the Company's earnings announcements for the first, second and third quarters of 2009, as well as a preliminary earnings release dated October 6, 2009. The complaint, which sought unspecified damages and other relief as well as attorneys' fees, alleged that the defendants failed to disclose that the Company was experiencing a slowdown in demand for its products and was not receiving anticipated orders for cardiac rhythm management devices. Class members alleged that the defendant's failure to disclose the above information resulted in the class purchasing St. Jude Medical stock at an artificially inflated price. In December 2011, the Court issued a decision denying a motion to dismiss filed by the defendants in October 2010. In October 2012, the Court granted plaintiffs' motion to certify the case as a class action and the discovery phase of the case closed in September 2013. In October 2013, the defendants filed a motion for summary judgment. In November 2014, the defendants filed a motion for leave to proceed with a motion to decertify the class, which the Court denied in December 2014. On February 18, 2015, the parties entered into a written settlement agreement resolving the case, pending notification to class members and subject to court approval. Under the settlement, the Company agreed to make a payment of $50 million to resolve all of the class claims and recorded a charge of that amount during the fourth quarter of 2014. The Company had estimated its damages exposure on the claims alleged to be approximately $475 million . A preliminary order approving the settlement was entered by the District Court on March 9, 2015 with the final settlement order and judgment closing the case entered on June 12, 2015. During the first quarter of 2015, the Company received insurance recoveries of $40 million and continues to pursue collection of the remaining insurance recovery, including interest and attorneys' fees and costs. December 2012 Securities Litigation: On December 7, 2012, a putative securities class action lawsuit was filed in federal district court in Minnesota against the Company and an officer (collectively, the defendants) for alleged violations of the federal securities laws, on behalf of all purchasers of the publicly traded securities of the defendants between October 17, 2012 and November 20, 2012. The complaint, which sought unspecified damages and other relief as well as attorneys' fees, challenges the Company’s disclosures concerning its high voltage cardiac rhythm lead products during the purported class period. On December 10, 2012, a second putative securities class action lawsuit was filed in federal district court in Minnesota against the Company and certain officers for alleged violations of the federal securities laws, on behalf of all purchasers of the publicly traded securities of the Company between October 19, 2011 and November 20, 2012. The second complaint alleged similar claims and sought similar relief. In March 2013, the Court consolidated the two cases and appointed a lead counsel and lead plaintiff. A consolidated amended complaint was served and filed in June 2013, alleging false or misleading representations made during the class period extending from February 5, 2010 through November 7, 2012. In September 2013, the defendants filed a motion to dismiss the consolidated amended complaint. On March 10, 2014, the Court ruled on the motion to dismiss, denying the motion in part and granting the motion in part. On October 7, 2014, the lead plaintiff filed a second amended complaint. Like the original consolidated amended complaint, the plaintiffs did not assert any specific amount of compensation in the second amended complaint. The plaintiffs filed their motion for class certification on January 15, 2015. The Company will file a response by September 16, 2015, plaintiffs will file a reply by November 16, 2015, and a hearing before the Court on the plaintiffs' class certification will be scheduled at some point in the future. Fact discovery closes December 18, 2015 and the case is expected to be ready for trial in February 2017. The Company intends to continue to vigorously defend against the claims asserted in this matter. The Company has not recorded an expense related to any potential damages in connection with the December 2012 Securities Litigation because any potential loss is not probable or reasonably estimable. Because, based on the Company’s historical experience, the amount ultimately paid, if any, often does not bear any relationship to the amount claimed, the Company cannot reasonably estimate a loss or range of loss, if any, that may result from these matters. Product Warranties The Company offers a warranty on various products, the most significant of which relate to pacemaker and ICD systems. The Company estimates the costs it expects to incur under its warranties and records a liability for such costs at the time the product is sold. Factors that affect the Company's warranty liability include the number of units sold, historical and anticipated rates of warranty claims and cost per claim. The Company regularly assesses the adequacy of its warranty liabilities and adjusts the amounts as necessary. Changes in the Company’s product warranty liability during the three and six months ended July 4, 2015 and June 28, 2014 were as follows (in millions): Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Balance at beginning of period $ 32 $ 37 $ 35 $ 37 Warranty expense (income) recognized (2 ) 2 (4 ) 3 Warranty credits issued (1 ) (2 ) (2 ) (3 ) Balance at end of period $ 29 $ 37 $ 29 $ 37

Special Charges

Special Charges	6 Months Ended
	Jul. 04, 2015
Special Charges [Abstract]
Special Charges	SPECIAL CHARGES The Company recognizes certain transactions and events as special charges in its Condensed Consolidated Financial Statements . These charges (such as restructuring charges, impairment charges, certain legal settlements or product field action costs and litigation costs) result from facts and circumstances that vary in frequency and impact on the Company's results of operations. Manufacturing and Supply Chain Optimization Plan During 2014, the Company initiated the Manufacturing and Supply Chain Optimization Plan to leverage economies of scale, streamline distribution methods, drive process improvements through global synergies, balance plant utilization levels, centralize certain vendor relationships and reduce overall costs. During 2014, the Company incurred charges of $32 million related to severance and other termination benefits, fixed assets associated with information technology assets no longer expected to be utilized and distributor and other contract termination costs. During the first quarter of 2015, the Company incurred additional charges of $8 million primarily related to severance and other termination benefits as well as other contract termination costs associated with the elimination of certain operational, quality and hardware development activities at a research and development facility and continued exit costs related to a facility closure in the United States. During the second quarter of 2015, the Company incurred additional charges of $27 million primarily related to severance costs and other termination benefits as well as contract termination costs. The Company currently expects to incur approximately $13 million during the remainder of 2015 to complete the plan, but may incur additional charges in future periods. A summary of the activity related to the Manufacturing and Supply Chain Optimization Plan accrual is as follows (in millions): Employee Inventory Fixed Other Restructuring Costs Total Balance at December 28, 2013 $ — $ — $ — $ — $ — Cost of sales special charges 7 — — — 7 Special charges 12 — 5 8 25 Non-cash charges used — — (5 ) — (5 ) Cash payments (5 ) — — (2 ) (7 ) Balance at January 3, 2015 14 — — 6 20 Cost of sales special charges 1 1 — — 2 Special charges 3 — — 3 6 Non-cash charges used — (1 ) — — (1 ) Cash payments (5 ) — — (5 ) (10 ) Foreign exchange rate impact — — — (1 ) (1 ) Balance at April 4, 2015 13 — — 3 16 Cost of sales special charges 1 — — 5 6 Special charges 10 — — 11 21 Cash payments (12 ) — — (11 ) (23 ) Balance at July 4, 2015 $ 12 $ — $ — $ 8 $ 20 2012 Business Realignment Plan During 2012, the Company realigned its product divisions into two new operating divisions: the Implantable Electronic Systems Division (combining its legacy Cardiac Rhythm Management and Neuromodulation product divisions) and the Cardiovascular and Ablation Technologies Division (combining its legacy Cardiovascular and Atrial Fibrillation product divisions). In addition, the Company centralized certain support functions, including information technology, human resources, legal, business development and certain marketing functions. The organizational changes have been part of a comprehensive plan to accelerate the Company's growth, reduce costs, leverage economies of scale and increase investment in product development. During 2014, the Company announced additional organizational changes including the combination of its Implantable Electronic Systems Division and Cardiovascular and Ablation Technologies Division, resulting in an integrated research and development (R&D) organization and a consolidation of manufacturing and supply chain operations worldwide. The integration was conducted in a phased approach during 2014. In connection with these actions, the Company incurred $108 million of special charges associated with the 2012 Business Realignment Plan. These charges primarily included severance and other termination benefits and other restructuring costs, including distributor and other contract termination costs, costs associated with the discontinuation of a clinical trial and planned exit costs related to a facility in Europe. Additionally, the Company recognized inventory and fixed asset write-offs related to the discontinued clinical trial and fixed asset write-offs associated with projects abandoned under the new realigned structure. During the first quarter of 2015, the Company incurred additional charges of $5 million primarily related to severance and other termination benefits and other restructuring costs, including contract termination costs, moving expenses and other exit costs predominately associated with the facility closure in Europe. During the second quarter of 2015, the Company incurred additional charges of $9 million primarily related to severance and other termination benefits and other restructuring costs, including contract termination costs, moving expenses and other exit costs predominately associated with the facility closure in Europe. The Company currently expects to incur approximately $2 million during the remainder of 2015 to complete the plan. A summary of the activity related to the 2012 Business Realignment Plan accrual is as follows (in millions): Employee Termination Costs Inventory Charges Fixed Asset Charges Other Restructuring Costs Total Balance at December 28, 2013 $ 54 $ — $ — $ 33 $ 87 Cost of sales special charges 8 8 13 1 30 Special charges 36 — 7 35 78 Non-cash charges used — (8 ) (20 ) — (28 ) Cash payments (69 ) — — (56 ) (125 ) Balance at January 3, 2015 26 — — 12 38 Cost of sales special charges 1 1 — — 2 Special charges — — 1 2 3 Non-cash charges used — (1 ) (1 ) — (2 ) Cash payments (6 ) — — — (6 ) Foreign exchange rate impact (2 ) — — — (2 ) Balance at April 4, 2015 19 — — 14 33 Cost of sales special charges 1 2 — — 3 Special charges 3 — 1 2 6 Non-cash charges used — (2 ) (1 ) — (3 ) Cash payments (8 ) — — (4 ) (12 ) Balance at July 4, 2015 $ 15 $ — $ — $ 12 $ 27 2011 Restructuring Plan During 2011, the Company incurred special charges to realign certain activities in the Company's legacy Cardiac Rhythm Management business and sales and selling support organizations. The restructuring actions included phasing out Cardiac Rhythm Management manufacturing and R&D operations in a country in Europe, reductions in the Company's workforce and rationalizing product lines. The 2011 Restructuring Plan was completed in 2013 and the remaining accrual balance is not material. Other Special Charges Legal settlements: In connection with the March 2010 Securities Class Action Litigation, the Company recognized $10 million in insurance recoveries as a special benefit during the first quarter of 2015 (see Note 3). During the second quarter of 2014, the Company recognized a $27 million gain related to a favorable judgment and resolution in a patent infringement case. Product field action costs and litigation costs: During the first and second quarter of 2015, the Company recognized $5 million and $3 million , respectively, of litigation charges for expected future probable and estimable legal costs associated with outstanding legal matters related to the Company's product field actions. Charges in excess of the amounts accrued are reasonably possible and depend on a number of factors, such as the type of claims received and the cost to defend. Partially offsetting these special charges, the Company recognized a $2 million benefit during both the first quarter and the second quarter of 2015 in cost of sales special charges for salvaged inventory related to certain ICDs that were identified during 2014 as having a potential battery anomaly. Additionally, the Company recognized a $2 million benefit during the second quarter of 2015 in cost of sales special charges due to lower than expected direct recall costs related to the voluntary product field action initiated in late 2012 associated with certain neuromodulation implantable pulse generator charging systems. During the second quarter of 2014, the Company recognized $18 million of litigation charges for expected future probable and estimable legal costs associated with outstanding legal matters related to the Company's product field actions.

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Jul. 04, 2015
Earnings Per Share [Abstract]
Net Earnings Per Share	NET EARNINGS PER SHARE The table below sets forth the computation of basic and diluted net earnings per share attributable to St. Jude Medical, Inc. (in millions, except per share amounts): Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Numerator: Net earnings attributable to St. Jude Medical, Inc. $ 290 $ 270 $ 552 $ 519 Denominator: Basic weighted average shares outstanding 281.1 284.2 282.0 284.3 Dilution associated with stock-based compensation plans 4.4 4.7 4.3 4.8 Diluted weighted average shares outstanding 285.5 288.9 286.3 289.1 Basic net earnings per share attributable to St. Jude Medical, Inc. $ 1.03 $ 0.95 $ 1.96 $ 1.83 Diluted net earnings per share attributable to St. Jude Medical, Inc. $ 1.02 $ 0.93 $ 1.93 $ 1.80 Anti-dilutive shares of common stock excluded from diluted net earnings per share attributable to St. Jude Medical, Inc. 2.6 2.7 3.4 1.3

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information	6 Months Ended
	Jul. 04, 2015
Accumulated Comprehensive Income and Supplemental Equity [Abstract]
Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AND SUPPLEMENTAL EQUITY INFORMATION The tables below present the changes in each component of accumulated other comprehensive income, net of tax, including other comprehensive income and reclassifications out of accumulated other comprehensive income into net earnings for the three and six months ended July 4, 2015 , respectively (in millions): Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the three months ended July 4, 2015 sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of April 4, 2015 $ 16 $ 32 $ (318 ) $ (270 ) Other comprehensive income (loss) before reclassifications (2 ) (13 ) 30 15 Amounts reclassified to net earnings from accumulated other comprehensive income (2 ) (4 ) — (6 ) Other comprehensive income (loss) (4 ) (17 ) 30 9 Accumulated other comprehensive income (loss) as of July 4, 2015 $ 12 $ 15 $ (288 ) $ (261 ) Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the six months ended sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of January 3, 2015 $ 15 $ 3 $ (191 ) $ (173 ) Other comprehensive income (loss) before reclassifications 1 16 (97 ) (80 ) Amounts reclassified to net earnings from accumulated other comprehensive income (4 ) (4 ) — (8 ) Other comprehensive income (loss) (3 ) 12 (97 ) (88 ) Accumulated other comprehensive income (loss) as of July 4, 2015 $ 12 $ 15 $ (288 ) $ (261 ) The tables below present the changes in each component of accumulated other comprehensive income, net of tax, including other comprehensive income and reclassifications out of accumulated other comprehensive income into net earnings for the three and six months ended June 28, 2014 , respectively (in millions): Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the three months ended June 28, 2014 sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of March 29, 2014 $ 17 $ 3 $ 36 $ 56 Other comprehensive income (loss) before reclassifications 1 — (20 ) (19 ) Amounts reclassified to net earnings from accumulated other comprehensive income — — — — Other comprehensive income (loss) 1 — (20 ) (19 ) Accumulated other comprehensive income (loss) as of June 28, 2014 $ 18 $ 3 $ 16 $ 37 Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the six months ended sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of December 28, 2013 $ 17 $ 3 $ 26 $ 46 Other comprehensive income (loss) before reclassifications 1 — (10 ) (9 ) Amounts reclassified to net earnings from accumulated other comprehensive income — — — — Other comprehensive income (loss) 1 — (10 ) (9 ) Accumulated other comprehensive income (loss) as of June 28, 2014 $ 18 $ 3 $ 16 $ 37 Income taxes are not provided for foreign translation related to permanent investments in international subsidiaries. Reclassification adjustments are made to avoid double counting items in comprehensive income that are also recorded as part of net earnings. The following table provides details about reclassifications out of accumulated other comprehensive income and the line items impacted in the Company's Condensed Consolidated Statements of Earnings during the three and six months ended July 4, 2015 and June 28, 2014 , respectively (in millions): Details about Amount reclassified from accumulated other comprehensive income accumulated other Three Months Ended Six Months Ended comprehensive income components July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Statements of Earnings Classification Unrealized (gain) loss on available-for-sale securities: (Gain) loss on sale of available-for-sale securities $ (3 ) $ — $ (7 ) $ — Other (income) expense Tax effect 1 — 3 — Income tax expense Net of tax $ (2 ) $ — $ (4 ) $ — Unrealized (gain) loss on derivative financial instruments: (Gain) loss recognized on derivative financial instruments $ (4 ) $ — $ (4 ) $ — Cost of sales Tax effect — — — — Income tax expense Net of tax $ (4 ) $ — $ (4 ) $ — The Company's realized (gains) and losses on its available-for-sales securities and derivative financial instruments are computed using the specific identification method. Supplemental Equity Information On January 13, 2015, the Company authorized a share repurchase program of up to $500 million of its outstanding common stock. The Company began repurchasing shares on January 30, 2015. From January 30, 2015 through March 2, 2015, the Company repurchased approximately 7.5 million shares for $500 million at an average repurchase price of $66.96 per share. In June 2013, the Company made an equity investment of $40 million in Spinal Modulation a privately-held company that is focused on the development of an intraspinal neuromodulation therapy that delivers spinal cord stimulation targeting the dorsal root ganglion to manage chronic pain. The investment agreement resulted in a 19% voting equity interest and provided the Company with the exclusive right, but not the obligation, to acquire Spinal Modulation. Additionally, in connection with the investment and contingent acquisition agreement, the Company also entered into an exclusive international distribution agreement, and obtained significant decision-making rights over Spinal Modulation's operations and economic performance. Accordingly, effective June 7, 2013, the Company determined that Spinal Modulation was a variable interest entity for which St. Jude Medical was the primary beneficiary with the financial condition and results of operations of Spinal Modulation included in St. Jude Medical's Condensed Consolidated Financial Statements . During the second quarter of 2015, the Company exercised its exclusive option and paid $173 million to Spinal Modulation’s shareholders to acquire the remaining 81% ownership interest in the company that it did not previously own and accrued $155 million of contingent consideration (see Note 8). The $173 million paid in the second quarter of 2015 was classified as a financing activity in the Condensed Consolidated Statement of Cash Flows . As the Company retained its controlling interest, the payment for the shares and the accrual for contingent consideration resulted in a decrease in shareholders' equity before noncontrolling interest of $297 million and a decrease in noncontrolling interest of $33 million in St. Jude Medical's Condensed Consolidated Balance Sheets . Spinal Modulation's results of operations continue to be included in the Company's Condensed Consolidated Financial Statements . The supplemental equity schedules below present changes in the Company's noncontrolling interest and total shareholders' equity for the six months ended July 4, 2015 and June 28, 2014 , respectively (in millions): Total Shareholders' Equity Before Total Noncontrolling Noncontrolling Shareholders' For the six months ended July 4, 2015 Interest Interest Equity Balance at January 3, 2015 $ 4,199 $ 45 $ 4,244 Net earnings 552 (14 ) 538 Other comprehensive income (loss) (88 ) — (88 ) Cash dividends declared (163 ) — (163 ) Repurchases of common stock (500 ) — (500 ) Stock-based compensation 35 2 37 Common stock issued under employee stock plans and other, net 89 — 89 Tax benefit from stock plans 14 — 14 Additions (purchases) of noncontrolling ownership interests (297 ) (33 ) (330 ) Balance at July 4, 2015 $ 3,841 $ — $ 3,841 Total Shareholders' Equity Before Total Noncontrolling Noncontrolling Shareholders' For the six months ended June 28, 2014 Interest Interest Equity Balance at December 28, 2013 $ 4,231 $ 173 $ 4,404 Net earnings 519 (34 ) 485 Other comprehensive income (loss) (9 ) — (9 ) Cash dividends declared (154 ) — (154 ) Repurchases of common stock (434 ) — (434 ) Stock-based compensation 34 — 34 Common stock issued under employee stock plans and other, net 78 — 78 Tax benefit from stock plans 11 — 11 Measurement period fair value adjustment to noncontrolling interest — (36 ) (36 ) Additions (purchases) of noncontrolling ownership interests (297 ) (47 ) (344 ) Balance at June 28, 2014 $ 3,979 $ 56 $ 4,035

Income Taxes

Income Taxes	6 Months Ended
	Jul. 04, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES As of July 4, 2015 , the Company had $352 million accrued for uncertain tax positions, all of which would affect the Company’s effective tax rate if recognized. Additionally, the Company had $48 million accrued for gross interest and penalties as of July 4, 2015 . At January 3, 2015 , the liability for uncertain tax positions was $328 million and the accrual for gross interest and penalties was $44 million . The Company is subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. The Company has substantially concluded all material U.S. federal, state, foreign and local income tax matters for all tax years through 2004. In April 2015, the U.S. Internal Revenue Service (IRS) completed an audit of the Company’s 2010 and 2011 tax returns and proposed adjustments in an audit report . In February 2014, the IRS completed an audit of the Company’s 2008 and 2009 tax returns and also proposed adjustments in an audit report. The Company has begun and intends to vigorously defend certain positions and has initiated defense of these adjustments at the IRS appellate level. An unfavorable outcome could have a material negative impact on the Company's effective income tax rate in future periods. The Company does not expect its uncertain tax positions to change significantly over the next 12 months. The Company's effective income tax rate was 4.1% and 8.2% for the second quarter of 2015 and 2014, respectively, and 10.6% and 13.4% for the six months ended during 2015 and 2014, respectively. The Company’s effective income tax rate differs from the U.S. federal statutory rate each year due to certain operations that are subject to tax incentives, state and local taxes, and foreign taxes that are different than the U.S. federal statutory rate. In addition, the effective tax rate can be impacted each period by discrete income tax factors and events. Special charges, acquisition-related costs, adjustments to contingent consideration liabilities and discrete tax items recognized during the second quarter and first six months of 2015 favorably impacted the effective rate by 13.2 percentage points and 6.5 percentage points, respectively. Special charges, acquisition-related costs, adjustments to contingent consideration liabilities and discrete tax items recognized during the second quarter and first six months of 2014 favorably impacted the effective tax rate by 10.1 percentage points and 5.9 percentage points, respectively. Additionally, the effective income tax rate decreased during the second quarter and first six months of 2015 compared to the same prior year periods as a result of changes in the mix of income before income taxes between U.S. and foreign countries.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 04, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The fair value measurement accounting standard provides a framework for measuring fair value and defines fair value as the price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. The standard establishes a valuation hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on independent market data sources. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available. The valuation hierarchy is composed of three categories. The categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The categories within the valuation hierarchy are described as follows: • Level 1 – Inputs to the fair value measurement are quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs to the fair value measurement include quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. • Level 3 – Inputs to the fair value measurement are unobservable inputs or valuation techniques. Assets and Liabilities that are Measured at Fair Value on a Recurring Basis The fair value measurement standard applies to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). These financial assets and liabilities include money-market securities, trading marketable securities, available-for-sale marketable securities, derivative instruments and contingent consideration liabilities. The Company continues to record these items at fair value on a recurring basis. The Company does not have any material nonfinancial assets or liabilities that are measured at fair value on a recurring basis. A summary of the valuation methodologies used for the respective financial assets and liabilities measured at fair value on a recurring basis is as follows: Money-market securities : The Company’s money-market securities include funds that are traded in active markets and are recorded at fair value based upon the quoted market prices. The Company classifies these securities as level 1. Available-for-sale securities : The Company’s available-for-sale securities include publicly-traded equity securities that are traded in active markets and are recorded at fair value based upon the closing stock prices. The Company classifies these securities as level 1. Trading securities : The Company’s trading securities include publicly-traded mutual funds that are traded in active markets and are recorded at fair value based upon quoted market prices of the net asset values of the funds. The Company classifies these securities as level 1. The following table summarizes the components of the balance of the Company’s available-for-sale securities at July 4, 2015 and January 3, 2015 (in millions): July 4, 2015 January 3, 2015 Adjusted cost $ 5 $ 6 Gross unrealized gains 19 24 Fair value $ 24 $ 30 Derivative instruments : Fair values for the Company’s derivative financial instruments are based on quoted market prices of comparable instruments, if available, or more commonly on standard pricing models that use as their basis readily observable market parameters from industry standard data providers. These models reflect contractual terms of the derivatives, including period to maturity and market-based parameters such as foreign currency exchange rates. They do not contain a high level of subjectivity as the techniques used in the models do not require significant judgment and inputs are readily observable from actively quoted markets. The Company classifies these instruments as level 2 (see Note 9). Contingent consideration: The initial fair value is measured based on the consideration expected to be transferred (probability-weighted), discounted back to present value. The discount rate used is determined at the time of measurement in accordance with accepted valuation methods. The Company measures the liability on a recurring basis using Level 3 inputs including regulatory approval timing, projected revenues or cash flows, growth rates, discount rates, probabilities of payment and projected payment dates. Projected revenues are based on the Company's most recent internal operating budgets and long-term strategic plans. Changes to any of the inputs may result in significantly higher or lower fair value measurements. A summary of assets and liabilities measured at fair value on a recurring basis at July 4, 2015 and January 3, 2015 is as follows (in millions): Balance Sheet Classification July 4, 2015 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money-market securities Cash and cash equivalents $ 462 $ 462 $ — $ — Available-for-sale securities Other current assets 24 24 — — Foreign currency forward Other current assets 15 — 15 — Trading securities Other assets 318 318 — — Foreign currency forward contracts Other assets 3 — 3 — Total assets $ 822 $ 804 $ 18 $ — Liabilities Foreign currency forward Other current liabilities $ 3 $ — $ 3 $ — Contingent consideration Other current liabilities 119 — — 119 Foreign currency forward Other liabilities 2 — 2 — Contingent consideration Other liabilities 45 — — 45 Total liabilities $ 169 $ — $ 5 $ 164 Balance Sheet Classification January 3, 2015 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money-market securities Cash and cash equivalents $ 729 $ 729 $ — $ — Available-for-sale securities Other current assets 30 30 — — Trading securities Other assets 301 301 — — Total assets $ 1,060 $ 1,060 $ — $ — Liabilities Contingent consideration Other liabilities $ 50 $ — $ — $ 50 Total liabilities $ 50 $ — $ — $ 50 The recurring Level 3 fair value measurements of the Company's contingent consideration liability include the following significant unobservable inputs (in millions): Contingent Consideration Liabilities Fair Value as of July 4, 2015 Valuation Technique Unobservable Input Value or Range Spinal Modulation regulatory-based milestone $ 117 Probability Weighted Discounted Cash Flow Discount Rate 1.9% Probability of Payment 95% Projected Year of Payment 2016 Spinal Modulation revenue-based milestone 43 Monte Carlo Simulation Discount Rates 1.1% - 17.0% Expected Revenue Volatility 25.0% Projected Years of Payments 2017, 2018 Nanostim, Inc. (Nanostim) revenue-based milestone 4 Probability Weighted Discounted Cash Flow Discount Rate 5.0% Probability of Payment 10% Projected Years of Three Annual Payments 2016, 2017, 2018 Total contingent consideration liabilities $ 164 Additionally, the following table provides a reconciliation of the beginning and ending balances of the Company's contingent consideration liabilities (in millions): Spinal Modulation Nanostim Total Balance as of January 3, 2015 $ — $ 50 $ 50 Change in fair value of contingent consideration — (23 ) (23 ) Balance as of April 4, 2015 — 27 27 Initial fair value measurement of contingent consideration 155 — 155 Change in fair value of contingent consideration 5 (23 ) (18 ) Balance as of July 4, 2015 $ 160 $ 4 $ 164 Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Disclosures are required for certain assets and liabilities that are measured at fair value but are recognized and disclosed at fair value on a nonrecurring basis in periods subsequent to initial recognition. For St. Jude Medical, such measurements of fair value primarily relate to long-lived assets, goodwill, indefinite-lived intangible assets and cost method investments. Other than the long-lived asset impairments discussed as follows, there were no other material impairments that were measured at fair value on a nonrecurring basis for the three and six months ended July 4, 2015 or June 28, 2014 . Long-lived assets: During the first quarter of both 2015 and 2014, the Company recognized $1 million of fixed asset write-offs associated with projects abandoned under the new realigned structure. During the second quarter of 2014, the Company recognized $14 million of fixed asset write-offs primarily associated with the discontinuation of a clinical trial. Typically the Company measures the fair value of its long-lived assets, such as its definite-lived intangible assets and property, plant and equipment using independent appraisals, market models and discounted cash flow models. However, as these fixed assets had no alternative future use and therefore no discrete future cash flows, the assets were fully impaired. Cost method investments: The Company also holds investments in equity securities that are accounted for as cost method investments, which are classified as other assets and measured at fair value on a nonrecurring basis. The carrying value of these investments was $75 million and $71 million as of July 4, 2015 and January 3, 2015 , respectively. The fair value of the Company’s cost method investments was not estimated during the second quarter of 2015 since there were no identified events or changes in circumstances that may have had a significant adverse effect on the fair value of these investments. Fair Value Measurements of Other Financial Instruments The aggregate fair value of the Company’s fixed-rate senior notes at July 4, 2015 (measured using quoted prices in active markets) was $2,274 million compared to the aggregate carrying value of $2,265 million (inclusive of unamortized debt discounts or premiums). The fair value of the Company’s variable-rate debt obligations at July 4, 2015 approximated its aggregate $1,476 million carrying value due to the variable interest rate and short-term nature of these instruments. The Company also had $448 million and $713 million of cash equivalents invested in short-term deposits and interest and non-interest bearing bank accounts at July 4, 2015 and January 3, 2015 , respectively.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jul. 04, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS As a matter of policy, the Company uses derivatives for risk management purposes and it does not use derivatives for trading or speculative purposes. A key risk management objective is to mitigate foreign exchange rate volatility and the associated impact on earnings. The Company's primary way of meeting this objective is for certain of its subsidiaries to enter into derivative contracts with the same critical terms as those subsidiaries’ forecasted amounts of foreign currency costs. Cash Flow Hedges In the first quarter of 2015, the Company began to enter into foreign exchange forward contracts to hedge against the effect of exchange rate fluctuations on cash flows denominated in foreign currencies. These transactions are designated as cash flow hedges. The settlement or extension of these derivatives will result in reclassifications from accumulated other comprehensive income to earnings in the period during which the hedged transactions affect earnings and in the same financial statement line item with the earnings effects of the hedged transaction. The Company may dedesignate these cash flow hedge relationships in advance of the occurrence of the forecasted transaction. The portion of gains or losses on the derivative instrument previously accumulated in other comprehensive income for dedesignated hedges remains in accumulated other comprehensive income until the forecasted transaction occurs. Changes in the value of derivative instruments after dedesignation, but before settlement of the forward contract, are recorded in earnings and classified in operating activities within the Condensed Consolidated Statements of Cash Flows . Refer to the Derivatives Not Designated as Hedging Instruments section that follows. Hedge ineffectiveness and the amount excluded from effectiveness testing recognized in earnings on cash flow hedges were not material during the second quarter and first six months of 2015. The Company hedges its exposure to the variability in future cash flows of forecasted transactions for periods of up to 24 months . The dollar equivalent gross notional amount of the Company’s foreign exchange forward contracts designated as cash flow hedges at July 4, 2015 was approximately $1.0 billion . As of July 4, 2015 , the Company had a balance of $12 million associated with the after-tax net unrealized gain related to foreign currency forward contracts recorded in accumulated other comprehensive income. Based on exchange rates as of July 4, 2015 , the Company expects to reclassify approximately $10 million (after-tax) to earnings over the next 12 months contemporaneously with the earnings effects of the related forecasted transactions (with the impact offset by cash flows from the underlying hedged items). The following table provides the (gains) losses related to derivative instruments designated as cash flow hedges, including the location in the Condensed Consolidated Statements of Earnings and the Condensed Consolidated Statements of Comprehensive Income (in millions): Pre-tax (Gain) Loss Recognized in Pre-tax (Gain) Loss Recognized Other in Earnings on Effective Portion Ineffective Portion of (Gain) Loss Comprehensive of Derivative as a Result of on Derivative and Amount Three Income on Effective Reclassification from Excluded from Effectiveness months Portion of Accumulated Other Testing Recognized ended Derivative Comprehensive Income in Earnings July 4, 2015 Amount Amount Location Amount Location Derivatives in Cash Flow Hedging Relationships Foreign currency forward contracts $ 15 $ (4 ) Cost of sales $ — Cost of sales Pre-tax (Gain) Loss Recognized in Pre-tax (Gain) Loss Recognized Other in Earnings on Effective Portion Ineffective Portion of (Gain) Loss Comprehensive of Derivative as a Result of on Derivative and Amount Six Income on Effective Reclassification from Excluded from Effectiveness months Portion of Accumulated Other Testing Recognized ended Derivative Comprehensive Income in Earnings July 4, 2015 Amount Amount Location Amount Location Derivatives in Cash Flow Hedging Relationships Foreign currency forward contracts $ (19 ) $ (4 ) Cost of sales $ — Cost of sales Reclassifications from accumulated other comprehensive income into earnings include accumulated (gains) losses on dedesignated hedges at the time earnings are impacted. Derivatives Not Designated as Hedging Instruments Derivatives not designated as hedging instruments include dedesignated foreign currency forward contracts that formerly were designated in cash flow hedging relationships (as referenced in the Cash Flow Hedges section discussed previously). In addition, the Company enters into foreign currency forward contracts to economically hedge the foreign currency impact of assets and liabilities (including intercompany assets and liabilities) denominated in nonfunctional currencies. These derivative instruments are not designated in hedging relationships; therefore, fair value gains and losses on these contracts are recorded in earnings. The dollar equivalent gross notional amount of these forward contracts not designated as hedging instruments totaled $171 million as of July 4, 2015 . The fair value of the Company's outstanding contracts was not material as of July 4, 2015 and January 3, 2015 . The following table provides the (gains) losses related to derivative instruments not designated as hedging instruments, including the location in the Condensed Consolidated Statements of Earnings (in millions): Derivatives Not (Gain) Loss on Derivatives (Gain) Loss on Derivatives Designated as Recognized in Earnings Recognized in Earnings Hedging Three Months Ended Six Months Ended Instruments July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Location Foreign currency forward contracts $ 1 $ 4 $ (8 ) $ 4 Other (income) expense The net (gains) losses were almost entirely offset by corresponding net (losses) gains on the foreign currency exposures being managed. Location and Fair Value Amount of Derivative Instruments The following table summarizes the fair value of the Company’s derivative instruments and their locations in the Condensed Consolidated Balance Sheets as of July 4, 2015 (in millions): Fair Value of Derivative Instruments Amount Location Derivatives Designated as Hedging Instruments Foreign currency forward contracts $ 13 Other current assets 3 Other assets (3 ) Other current liabilities (2 ) Other liabilities Derivatives Not Designated as Hedging Instruments Foreign currency forward contracts 2 Other current assets — Other current liabilities Total $ 13 Additional information with respect to the fair values of the Company's derivative instruments is included in Note 8. Credit Risk and Offsetting of Assets and Liabilities of Derivative Instruments Fair values of the Company's derivatives can change significantly from period to period based on, among other factors, market movements and changes in the Company's positions. However, the Company’s risk is limited to the fair value of the instruments. The Company monitors its exposure to counterparty credit risk (the risk that counterparties will default and not make payments to the Company according to the terms of the agreements) by selecting major international banks and financial institutions as counterparties and by entering into master netting arrangements with counterparties when possible. A master netting arrangement may allow each counterparty to net settle amounts owed between a St. Jude Medical entity and the counterparty as a result of multiple, separate derivative transactions. As of July 4, 2015 , St. Jude Medical had International Swaps and Derivatives Association agreements with three applicable banks and financial institutions that contain netting provisions. The Company has elected to present the fair values of derivative assets and liabilities within the Company’s Condensed Consolidated Balance Sheets on a gross basis even when derivative transactions are subject to master netting arrangements and may otherwise qualify for net presentation. However, the following table provides information as though the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of the netting arrangements with each of the counterparties as of July 4, 2015 (in millions): Gross Amounts not Offset in the Condensed Consolidated Balance Sheet that are Subject to Master Netting Agreements Gross Amount of Eligible Offsetting Gross Amount of Recognized Derivative Assets Derivative Liabilities Presented in the Presented in the Net Condensed Condensed Cash Amount of Consolidated Consolidated Collateral Derivative Derivatives as of July 4, 2015 Balance Sheet Balance Sheet Received Assets Derivatives subject to master netting agreements $ 1 $ — $ — $ 1 Derivatives not subject to master netting agreements 17 17 Total $ 18 $ — $ — $ 18 Gross Amounts not Offset in the Condensed Consolidated Balance Sheet that are Subject to Master Netting Agreements Gross Amount of Eligible Offsetting Gross Amount of Recognized Derivative Liabilities Derivative Assets Presented in the Presented in the Net Condensed Condensed Cash Amount of Consolidated Consolidated Collateral Derivative Derivatives as of July 4, 2015 Balance Sheet Balance Sheet Pledged Liabilities Derivatives subject to master netting agreements $ — $ — $ — $ — Derivatives not subject to master netting agreements 5 5 Total $ 5 — $ — $ 5 For each counterparty, if netted, the Company would offset the asset and liability balances of all derivatives at the end of the reporting period. Derivatives not subject to master netting agreements are not eligible for net presentation. As of July 4, 2015 , no cash collateral had been received or pledged related to these derivative instruments.

Business Combination

Business Combination	6 Months Ended
	Jul. 04, 2015
Business Combinations [Abstract]
Business Combination	BUSINESS COMBINATION On July 21, 2015, the Company signed a definitive agreement to acquire all of the outstanding shares of Thoratec Corporation (Thoratec), headquartered in Pleasanton, California, for $63.50 per share in cash. Thoratec develops, manufactures and markets proprietary medical devices used for mechanical circulatory support for the treatment of heart failure patients.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 04, 2015
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	The carrying value of the Company’s debt, including discounts, the fair value of an interest rate swap agreement and the remaining deferred gain from a terminated interest rate swap agreement, consisted of the following (in millions): July 4, 2015 January 3, 2015 Term loan due June 2015 $ — $ 500 Term loan due August 2015 — 250 Term loan due April 2016 175 — 2.50% senior notes due 2016 503 506 3.25% senior notes due 2023 896 896 4.75% senior notes due 2043 696 696 1.58% Yen-denominated senior notes due 2017 66 68 2.04% Yen-denominated senior notes due 2020 104 107 Yen-denominated credit facilities 52 54 Commercial paper borrowings 1,249 789 Total debt 3,741 3,866 Less: current debt obligations 1,979 1,593 Long-term debt $ 1,762 $ 2,273
Schedule of Maturities of Long-term Debt	Contractual maturities of the Company's debt for the next five fiscal years and thereafter, excluding any discounts or premiums, as of July 4, 2015 are as follows (in millions): Remainder of 2015 2016 2017 2018 2019 After 2019 Expected future minimum principal payments $ 1,249 $ 727 $ 66 $ — $ — $ 1,704

Commitments And Contingencies (

Commitments And Contingencies (Tables)	6 Months Ended
	Jul. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule Of Product Warranty Liability	Changes in the Company’s product warranty liability during the three and six months ended July 4, 2015 and June 28, 2014 were as follows (in millions): Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Balance at beginning of period $ 32 $ 37 $ 35 $ 37 Warranty expense (income) recognized (2 ) 2 (4 ) 3 Warranty credits issued (1 ) (2 ) (2 ) (3 ) Balance at end of period $ 29 $ 37 $ 29 $ 37

Special Charges (Tables)

Special Charges (Tables)	6 Months Ended
	Jul. 04, 2015
Manufacturing and Supply Chain Optimization Plan
Restructuring Cost and Reserve
Summary Of Activity Related To Special Charge Restructuring Accrual	A summary of the activity related to the Manufacturing and Supply Chain Optimization Plan accrual is as follows (in millions): Employee Inventory Fixed Other Restructuring Costs Total Balance at December 28, 2013 $ — $ — $ — $ — $ — Cost of sales special charges 7 — — — 7 Special charges 12 — 5 8 25 Non-cash charges used — — (5 ) — (5 ) Cash payments (5 ) — — (2 ) (7 ) Balance at January 3, 2015 14 — — 6 20 Cost of sales special charges 1 1 — — 2 Special charges 3 — — 3 6 Non-cash charges used — (1 ) — — (1 ) Cash payments (5 ) — — (5 ) (10 ) Foreign exchange rate impact — — — (1 ) (1 ) Balance at April 4, 2015 13 — — 3 16 Cost of sales special charges 1 — — 5 6 Special charges 10 — — 11 21 Cash payments (12 ) — — (11 ) (23 ) Balance at July 4, 2015 $ 12 $ — $ — $ 8 $ 20
2012 Business Realignment Restructuring Plan
Restructuring Cost and Reserve
Summary Of Activity Related To Special Charge Restructuring Accrual	A summary of the activity related to the 2012 Business Realignment Plan accrual is as follows (in millions): Employee Termination Costs Inventory Charges Fixed Asset Charges Other Restructuring Costs Total Balance at December 28, 2013 $ 54 $ — $ — $ 33 $ 87 Cost of sales special charges 8 8 13 1 30 Special charges 36 — 7 35 78 Non-cash charges used — (8 ) (20 ) — (28 ) Cash payments (69 ) — — (56 ) (125 ) Balance at January 3, 2015 26 — — 12 38 Cost of sales special charges 1 1 — — 2 Special charges — — 1 2 3 Non-cash charges used — (1 ) (1 ) — (2 ) Cash payments (6 ) — — — (6 ) Foreign exchange rate impact (2 ) — — — (2 ) Balance at April 4, 2015 19 — — 14 33 Cost of sales special charges 1 2 — — 3 Special charges 3 — 1 2 6 Non-cash charges used — (2 ) (1 ) — (3 ) Cash payments (8 ) — — (4 ) (12 ) Balance at July 4, 2015 $ 15 $ — $ — $ 12 $ 27

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Jul. 04, 2015
Earnings Per Share [Abstract]
Schedule Of Computation Of Basic And Diluted Net Earnings Per Share	The table below sets forth the computation of basic and diluted net earnings per share attributable to St. Jude Medical, Inc. (in millions, except per share amounts): Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Numerator: Net earnings attributable to St. Jude Medical, Inc. $ 290 $ 270 $ 552 $ 519 Denominator: Basic weighted average shares outstanding 281.1 284.2 282.0 284.3 Dilution associated with stock-based compensation plans 4.4 4.7 4.3 4.8 Diluted weighted average shares outstanding 285.5 288.9 286.3 289.1 Basic net earnings per share attributable to St. Jude Medical, Inc. $ 1.03 $ 0.95 $ 1.96 $ 1.83 Diluted net earnings per share attributable to St. Jude Medical, Inc. $ 1.02 $ 0.93 $ 1.93 $ 1.80 Anti-dilutive shares of common stock excluded from diluted net earnings per share attributable to St. Jude Medical, Inc. 2.6 2.7 3.4 1.3

Accumulated Other Comprehensi22

Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information (Tables)	6 Months Ended
	Jul. 04, 2015
Accumulated Comprehensive Income and Supplemental Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The tables below present the changes in each component of accumulated other comprehensive income, net of tax, including other comprehensive income and reclassifications out of accumulated other comprehensive income into net earnings for the three and six months ended July 4, 2015 , respectively (in millions): Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the three months ended July 4, 2015 sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of April 4, 2015 $ 16 $ 32 $ (318 ) $ (270 ) Other comprehensive income (loss) before reclassifications (2 ) (13 ) 30 15 Amounts reclassified to net earnings from accumulated other comprehensive income (2 ) (4 ) — (6 ) Other comprehensive income (loss) (4 ) (17 ) 30 9 Accumulated other comprehensive income (loss) as of July 4, 2015 $ 12 $ 15 $ (288 ) $ (261 ) Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the six months ended sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of January 3, 2015 $ 15 $ 3 $ (191 ) $ (173 ) Other comprehensive income (loss) before reclassifications 1 16 (97 ) (80 ) Amounts reclassified to net earnings from accumulated other comprehensive income (4 ) (4 ) — (8 ) Other comprehensive income (loss) (3 ) 12 (97 ) (88 ) Accumulated other comprehensive income (loss) as of July 4, 2015 $ 12 $ 15 $ (288 ) $ (261 ) The tables below present the changes in each component of accumulated other comprehensive income, net of tax, including other comprehensive income and reclassifications out of accumulated other comprehensive income into net earnings for the three and six months ended June 28, 2014 , respectively (in millions): Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the three months ended June 28, 2014 sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of March 29, 2014 $ 17 $ 3 $ 36 $ 56 Other comprehensive income (loss) before reclassifications 1 — (20 ) (19 ) Amounts reclassified to net earnings from accumulated other comprehensive income — — — — Other comprehensive income (loss) 1 — (20 ) (19 ) Accumulated other comprehensive income (loss) as of June 28, 2014 $ 18 $ 3 $ 16 $ 37 Unrealized Gain (Loss) On Unrealized Foreign Accumulated Available-for- Gain (Loss) On Currency Other For the six months ended sale Derivative Instruments translation adjustment Comprehensive Income (Loss) Accumulated other comprehensive income (loss) as of December 28, 2013 $ 17 $ 3 $ 26 $ 46 Other comprehensive income (loss) before reclassifications 1 — (10 ) (9 ) Amounts reclassified to net earnings from accumulated other comprehensive income — — — — Other comprehensive income (loss) 1 — (10 ) (9 ) Accumulated other comprehensive income (loss) as of June 28, 2014 $ 18 $ 3 $ 16 $ 37
Reclassification out of Accumulated Other Comprehensive Income	The following table provides details about reclassifications out of accumulated other comprehensive income and the line items impacted in the Company's Condensed Consolidated Statements of Earnings during the three and six months ended July 4, 2015 and June 28, 2014 , respectively (in millions): Details about Amount reclassified from accumulated other comprehensive income accumulated other Three Months Ended Six Months Ended comprehensive income components July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Statements of Earnings Classification Unrealized (gain) loss on available-for-sale securities: (Gain) loss on sale of available-for-sale securities $ (3 ) $ — $ (7 ) $ — Other (income) expense Tax effect 1 — 3 — Income tax expense Net of tax $ (2 ) $ — $ (4 ) $ — Unrealized (gain) loss on derivative financial instruments: (Gain) loss recognized on derivative financial instruments $ (4 ) $ — $ (4 ) $ — Cost of sales Tax effect — — — — Income tax expense Net of tax $ (4 ) $ — $ (4 ) $ —
Schedule of Noncontrolling Interest	The supplemental equity schedules below present changes in the Company's noncontrolling interest and total shareholders' equity for the six months ended July 4, 2015 and June 28, 2014 , respectively (in millions): Total Shareholders' Equity Before Total Noncontrolling Noncontrolling Shareholders' For the six months ended July 4, 2015 Interest Interest Equity Balance at January 3, 2015 $ 4,199 $ 45 $ 4,244 Net earnings 552 (14 ) 538 Other comprehensive income (loss) (88 ) — (88 ) Cash dividends declared (163 ) — (163 ) Repurchases of common stock (500 ) — (500 ) Stock-based compensation 35 2 37 Common stock issued under employee stock plans and other, net 89 — 89 Tax benefit from stock plans 14 — 14 Additions (purchases) of noncontrolling ownership interests (297 ) (33 ) (330 ) Balance at July 4, 2015 $ 3,841 $ — $ 3,841 Total Shareholders' Equity Before Total Noncontrolling Noncontrolling Shareholders' For the six months ended June 28, 2014 Interest Interest Equity Balance at December 28, 2013 $ 4,231 $ 173 $ 4,404 Net earnings 519 (34 ) 485 Other comprehensive income (loss) (9 ) — (9 ) Cash dividends declared (154 ) — (154 ) Repurchases of common stock (434 ) — (434 ) Stock-based compensation 34 — 34 Common stock issued under employee stock plans and other, net 78 — 78 Tax benefit from stock plans 11 — 11 Measurement period fair value adjustment to noncontrolling interest — (36 ) (36 ) Additions (purchases) of noncontrolling ownership interests (297 ) (47 ) (344 ) Balance at June 28, 2014 $ 3,979 $ 56 $ 4,035

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 04, 2015
Fair Value Disclosures [Abstract]
Summary Of Components Of Available-For-Sale Securities	The following table summarizes the components of the balance of the Company’s available-for-sale securities at July 4, 2015 and January 3, 2015 (in millions): July 4, 2015 January 3, 2015 Adjusted cost $ 5 $ 6 Gross unrealized gains 19 24 Fair value $ 24 $ 30
Summary Of Financial Assets and Liabilities Measured At Fair Value On A Recurring Basis	A summary of assets and liabilities measured at fair value on a recurring basis at July 4, 2015 and January 3, 2015 is as follows (in millions): Balance Sheet Classification July 4, 2015 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money-market securities Cash and cash equivalents $ 462 $ 462 $ — $ — Available-for-sale securities Other current assets 24 24 — — Foreign currency forward Other current assets 15 — 15 — Trading securities Other assets 318 318 — — Foreign currency forward contracts Other assets 3 — 3 — Total assets $ 822 $ 804 $ 18 $ — Liabilities Foreign currency forward Other current liabilities $ 3 $ — $ 3 $ — Contingent consideration Other current liabilities 119 — — 119 Foreign currency forward Other liabilities 2 — 2 — Contingent consideration Other liabilities 45 — — 45 Total liabilities $ 169 $ — $ 5 $ 164 Balance Sheet Classification January 3, 2015 Quoted Prices In Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Money-market securities Cash and cash equivalents $ 729 $ 729 $ — $ — Available-for-sale securities Other current assets 30 30 — — Trading securities Other assets 301 301 — — Total assets $ 1,060 $ 1,060 $ — $ — Liabilities Contingent consideration Other liabilities $ 50 $ — $ — $ 50 Total liabilities $ 50 $ — $ — $ 50
Summary of Level 3 Fair Value Measurements of Contingent Consideration Liability	The recurring Level 3 fair value measurements of the Company's contingent consideration liability include the following significant unobservable inputs (in millions): Contingent Consideration Liabilities Fair Value as of July 4, 2015 Valuation Technique Unobservable Input Value or Range Spinal Modulation regulatory-based milestone $ 117 Probability Weighted Discounted Cash Flow Discount Rate 1.9% Probability of Payment 95% Projected Year of Payment 2016 Spinal Modulation revenue-based milestone 43 Monte Carlo Simulation Discount Rates 1.1% - 17.0% Expected Revenue Volatility 25.0% Projected Years of Payments 2017, 2018 Nanostim, Inc. (Nanostim) revenue-based milestone 4 Probability Weighted Discounted Cash Flow Discount Rate 5.0% Probability of Payment 10% Projected Years of Three Annual Payments 2016, 2017, 2018 Total contingent consideration liabilities $ 164
Unobservable Input Reconciliation of Contingent Consideration Liability	Additionally, the following table provides a reconciliation of the beginning and ending balances of the Company's contingent consideration liabilities (in millions): Spinal Modulation Nanostim Total Balance as of January 3, 2015 $ — $ 50 $ 50 Change in fair value of contingent consideration — (23 ) (23 ) Balance as of April 4, 2015 — 27 27 Initial fair value measurement of contingent consideration 155 — 155 Change in fair value of contingent consideration 5 (23 ) (18 ) Balance as of July 4, 2015 $ 160 $ 4 $ 164

Derivative Financial Instrume24

Derivative Financial Instruments (Tables)	6 Months Ended
	Jul. 04, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Instruments (Gain) Loss	The following table provides the (gains) losses related to derivative instruments designated as cash flow hedges, including the location in the Condensed Consolidated Statements of Earnings and the Condensed Consolidated Statements of Comprehensive Income (in millions): Pre-tax (Gain) Loss Recognized in Pre-tax (Gain) Loss Recognized Other in Earnings on Effective Portion Ineffective Portion of (Gain) Loss Comprehensive of Derivative as a Result of on Derivative and Amount Three Income on Effective Reclassification from Excluded from Effectiveness months Portion of Accumulated Other Testing Recognized ended Derivative Comprehensive Income in Earnings July 4, 2015 Amount Amount Location Amount Location Derivatives in Cash Flow Hedging Relationships Foreign currency forward contracts $ 15 $ (4 ) Cost of sales $ — Cost of sales Pre-tax (Gain) Loss Recognized in Pre-tax (Gain) Loss Recognized Other in Earnings on Effective Portion Ineffective Portion of (Gain) Loss Comprehensive of Derivative as a Result of on Derivative and Amount Six Income on Effective Reclassification from Excluded from Effectiveness months Portion of Accumulated Other Testing Recognized ended Derivative Comprehensive Income in Earnings July 4, 2015 Amount Amount Location Amount Location Derivatives in Cash Flow Hedging Relationships Foreign currency forward contracts $ (19 ) $ (4 ) Cost of sales $ — Cost of sales
Derivative Instruments, Gain (Loss), Not Designated as Hedging Instrument	The following table provides the (gains) losses related to derivative instruments not designated as hedging instruments, including the location in the Condensed Consolidated Statements of Earnings (in millions): Derivatives Not (Gain) Loss on Derivatives (Gain) Loss on Derivatives Designated as Recognized in Earnings Recognized in Earnings Hedging Three Months Ended Six Months Ended Instruments July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Location Foreign currency forward contracts $ 1 $ 4 $ (8 ) $ 4 Other (income) expense
Schedule of Fair Value of Derivative Instruments in Statement of Financial Position	The following table summarizes the fair value of the Company’s derivative instruments and their locations in the Condensed Consolidated Balance Sheets as of July 4, 2015 (in millions): Fair Value of Derivative Instruments Amount Location Derivatives Designated as Hedging Instruments Foreign currency forward contracts $ 13 Other current assets 3 Other assets (3 ) Other current liabilities (2 ) Other liabilities Derivatives Not Designated as Hedging Instruments Foreign currency forward contracts 2 Other current assets — Other current liabilities Total $ 13
Schedule of Offsetting Derivative Assets	However, the following table provides information as though the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of the netting arrangements with each of the counterparties as of July 4, 2015 (in millions): Gross Amounts not Offset in the Condensed Consolidated Balance Sheet that are Subject to Master Netting Agreements Gross Amount of Eligible Offsetting Gross Amount of Recognized Derivative Assets Derivative Liabilities Presented in the Presented in the Net Condensed Condensed Cash Amount of Consolidated Consolidated Collateral Derivative Derivatives as of July 4, 2015 Balance Sheet Balance Sheet Received Assets Derivatives subject to master netting agreements $ 1 $ — $ — $ 1 Derivatives not subject to master netting agreements 17 17 Total $ 18 $ — $ — $ 18 Gross Amounts not Offset in the Condensed Consolidated Balance Sheet that are Subject to Master Netting Agreements Gross Amount of Eligible Offsetting Gross Amount of Recognized Derivative Liabilities Derivative Assets Presented in the Presented in the Net Condensed Condensed Cash Amount of Consolidated Consolidated Collateral Derivative Derivatives as of July 4, 2015 Balance Sheet Balance Sheet Pledged Liabilities Derivatives subject to master netting agreements $ — $ — $ — $ — Derivatives not subject to master netting agreements 5 5 Total $ 5 — $ — $ 5

Debt - Schedule Of Long-Term De

Debt - Schedule Of Long-Term Debt (Details) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Debt Instrument
Total debt	$ 3,741	$ 3,866
Less: current debt obligations	1,979	1,593
Long-term debt	1,762	2,273
Term loan due June 2015 | Loans Payable
Debt Instrument
Total debt	0	500
Term loan due August 2015 | Loans Payable
Debt Instrument
Total debt	0	250
Term loan due April 2016 | Loans Payable
Debt Instrument
Total debt	175	0
2.50% senior notes due 2016 | Senior Notes
Debt Instrument
Total debt	$ 503	506
Stated percentage	2.50%
3.25% senior notes due 2023 | Senior Notes
Debt Instrument
Total debt	$ 896	896
Stated percentage	3.25%
4.75% senior notes due 2043 | Senior Notes
Debt Instrument
Total debt	$ 696	696
Stated percentage	4.75%
1.58% Yen-denominated senior notes due 2017 | Senior Notes
Debt Instrument
Total debt	$ 66	68
Stated percentage	1.58%
2.04% Yen-denominated senior notes due 2020 | Senior Notes
Debt Instrument
Total debt	$ 104	107
Stated percentage	2.04%
Yen-denominated credit facilities | Line of Credit
Debt Instrument
Total debt	$ 52	54
Commercial paper borrowings | Commercial Paper
Debt Instrument
Total debt	$ 1,249	$ 789

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term Debt (Details) $ in Millions	Jul. 04, 2015USD ($)
Debt Disclosure [Abstract]
Remainder of 2015	$ 1,249
2,016	727
2,017	66
2,018	0
2,019	0
After 2,019	$ 1,704

Debt (Details)

Debt (Details) ¥ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015JPY (¥)	Apr. 04, 2015JPY (¥)	Jul. 04, 2015JPY (¥)	Jul. 04, 2015USD ($)	Apr. 04, 2015USD ($)
Loans Payable | Term loan due June 2015
Debt Instrument
Debt instrument term, years		2 years
Face amount of debt					$ 500,000,000
Loans Payable | Term loan due August 2015
Debt Instrument
Debt instrument term, years		364 days
Face amount of debt					$ 250,000,000
Loans Payable | Term loan due April 2016
Debt Instrument
Debt instrument term, years	364 days
Face amount of debt				$ 175,000,000
Basis spread on variable rate	0.90%
Line of Credit | Yen Denominated Credit Facilities, Expired in March 2015
Debt Instrument
Line of credit		¥ 3,250		26,000,000
Extension period			1 year
Basis spread on variable rate			0.25%
Line of Credit | Yen Denominated Credit Facilities, Expired in June 2015
Debt Instrument
Line of credit	¥ 3,250		¥ 3,250	$ 26,000,000
Extension period			1 year
Basis spread on variable rate			0.27%
Japan, Yen | Line of Credit | Yen Denominated Credit Facilities, Expired in March 2015
Debt Instrument
Description of variable rate basis			Yen LIBOR
Japan, Yen | Line of Credit | Yen Denominated Credit Facilities, Expired in June 2015
Debt Instrument
Description of variable rate basis			Yen LIBOR
LIBOR | Loans Payable | Term loan due April 2016
Debt Instrument
Description of variable rate basis	LIBOR

Commitments And Contingencies28

Commitments And Contingencies (Details) $ in Millions	1 Months Ended	3 Months Ended			12 Months Ended
	May. 31, 2015USD ($)	Apr. 04, 2015USD ($)	Jan. 03, 2015USD ($)case	Mar. 30, 2013case	Jan. 03, 2015USD ($)case	Jul. 31, 2015lawsuit	Jul. 04, 2015caselawsuit	Dec. 17, 2014lawsuit
March 2010 Securities Class Action
Commitments And Contingencies
Settlement expense			$ 50
Estimated damages on alleged claims					$ 475
Proceeds from insurance settlement		$ 40
December 2012 Securities Litigation
Commitments And Contingencies
Number of cases consolidated | case				2
Riata Litigation
Commitments And Contingencies
Settlement expense			$ 15
Pending lawsuits			950		950		3
Number of claimants in lawsuit | case							886
Initial payment	$ 13
Number of lawsuits outstanding | lawsuit								70
Riata Litigation | Subsequent Event
Commitments And Contingencies
Number of lawsuits outstanding | lawsuit						4

Commitments And Contingencies -

Commitments And Contingencies - Schedule Of Product Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 32	$ 37	$ 35	$ 37
Warranty expense (income) recognized	(2)	2	(4)	3
Warranty credits issued	(1)	(2)	(2)	(3)
Balance at end of period	$ 29	$ 37	$ 29	$ 37

Special Charges (Details)

Special Charges (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Jul. 04, 2015	Apr. 04, 2015	Jun. 28, 2014	Jan. 03, 2015
Field Action Costs | Operating Expense
Purchased In-Process Research And Development (IPR&D) And Special Charges
Litigation charges	$ 3	$ 5
March 2010 Securities Class Action
Purchased In-Process Research And Development (IPR&D) And Special Charges
Insurance recoveries		10
Manufacturing and Supply Chain Optimization Plan
Purchased In-Process Research And Development (IPR&D) And Special Charges
Special charges	27	8		$ 32
Expected cost remaining	13
Manufacturing and Supply Chain Optimization Plan | Operating Expense
Purchased In-Process Research And Development (IPR&D) And Special Charges
Special charges	21	6		25
Manufacturing and Supply Chain Optimization Plan | Cost of sales
Purchased In-Process Research And Development (IPR&D) And Special Charges
Special charges	6	2		7
2012 Business Realignment Restructuring Plan
Purchased In-Process Research And Development (IPR&D) And Special Charges
Special charges	9	5		108
Expected cost remaining	2
2012 Business Realignment Restructuring Plan | Operating Expense
Purchased In-Process Research And Development (IPR&D) And Special Charges
Special charges	6	3		78
2012 Business Realignment Restructuring Plan | Cost of sales
Purchased In-Process Research And Development (IPR&D) And Special Charges
Special charges	3	2		$ 30
Field Action Costs
Purchased In-Process Research And Development (IPR&D) And Special Charges
Litigation charges			$ 18
Field Action Costs, Salvaged Inventory | Cost of sales
Purchased In-Process Research And Development (IPR&D) And Special Charges
Benefit in cost of sales special charges for salvaged inventory	2	$ 2
Field Action Costs, Direct Recall Salvaged Inventory Costs | Cost of sales
Purchased In-Process Research And Development (IPR&D) And Special Charges
Benefit in cost of sales special charges for salvaged inventory	$ 2
Patent Infringement
Purchased In-Process Research And Development (IPR&D) And Special Charges
Gain related to litigation settlement			$ 27

Special Charges - Summary Of Ac

Special Charges - Summary Of Activity Related To Special Charge Restructuring Accrual (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Jul. 04, 2015	Apr. 04, 2015	Jun. 28, 2014	Mar. 29, 2014	Jan. 03, 2015
Manufacturing and Supply Chain Optimization Plan
Restructuring Reserve [Roll Forward]
Balance at beginning	$ 16	$ 20		$ 0	$ 0
Special charges, total	27	8			32
Non-cash charges used		(1)			(5)
Cash payments	(23)	(10)			(7)
Foreign exchange rate impact		(1)
Balance at ending	20	16			20
Manufacturing and Supply Chain Optimization Plan | Employee Termination Costs
Restructuring Reserve [Roll Forward]
Balance at beginning	13	14		0	0
Non-cash charges used		0			0
Cash payments	(12)	(5)			(5)
Foreign exchange rate impact		0
Balance at ending	12	13			14
Manufacturing and Supply Chain Optimization Plan | Inventory Charges
Restructuring Reserve [Roll Forward]
Balance at beginning	0	0		0	0
Non-cash charges used		(1)			0
Cash payments	0	0			0
Foreign exchange rate impact		0
Balance at ending	0	0			0
Manufacturing and Supply Chain Optimization Plan | Fixed Asset Charges
Restructuring Reserve [Roll Forward]
Balance at beginning	0	0		0	0
Non-cash charges used		0			(5)
Cash payments	0	0			0
Foreign exchange rate impact		0
Balance at ending	0	0			0
Manufacturing and Supply Chain Optimization Plan | Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Balance at beginning	3	6		0	0
Non-cash charges used		0			0
Cash payments	(11)	(5)			(2)
Foreign exchange rate impact		(1)
Balance at ending	8	3			6
Manufacturing and Supply Chain Optimization Plan | Cost of sales
Restructuring Reserve [Roll Forward]
Special charges, total	6	2			7
Manufacturing and Supply Chain Optimization Plan | Cost of sales | Employee Termination Costs
Restructuring Reserve [Roll Forward]
Special charges, employee terminations costs	1	1			7
Manufacturing and Supply Chain Optimization Plan | Cost of sales | Inventory Charges
Restructuring Reserve [Roll Forward]
Special charges, inventory charges	0	1			0
Manufacturing and Supply Chain Optimization Plan | Cost of sales | Fixed Asset Charges
Restructuring Reserve [Roll Forward]
Special charges, fixed asset charges	0	0			0
Manufacturing and Supply Chain Optimization Plan | Cost of sales | Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Special charges, other restructuring costs	5	0			0
Manufacturing and Supply Chain Optimization Plan | Operating Expense
Restructuring Reserve [Roll Forward]
Special charges, total	21	6			25
Manufacturing and Supply Chain Optimization Plan | Operating Expense | Employee Termination Costs
Restructuring Reserve [Roll Forward]
Special charges, employee terminations costs	10	3			12
Manufacturing and Supply Chain Optimization Plan | Operating Expense | Inventory Charges
Restructuring Reserve [Roll Forward]
Special charges, inventory charges	0	0			0
Manufacturing and Supply Chain Optimization Plan | Operating Expense | Fixed Asset Charges
Restructuring Reserve [Roll Forward]
Special charges, fixed asset charges	0	0			5
Manufacturing and Supply Chain Optimization Plan | Operating Expense | Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Special charges, other restructuring costs	11	3			8
2012 Business Realignment Restructuring Plan
Restructuring Reserve [Roll Forward]
Balance at beginning	33	38		87	87
Special charges, total	9	5			108
Non-cash charges used	(3)	(2)			(28)
Cash payments	(12)	(6)			(125)
Foreign exchange rate impact		(2)
Balance at ending	27	33			38
2012 Business Realignment Restructuring Plan | Employee Termination Costs
Restructuring Reserve [Roll Forward]
Balance at beginning	19	26		54	54
Non-cash charges used	0	0			0
Cash payments	(8)	(6)			(69)
Foreign exchange rate impact		(2)
Balance at ending	15	19			26
2012 Business Realignment Restructuring Plan | Inventory Charges
Restructuring Reserve [Roll Forward]
Balance at beginning	0	0		0	0
Non-cash charges used	(2)	(1)			(8)
Cash payments	0	0			0
Foreign exchange rate impact		0
Balance at ending	0	0			0
2012 Business Realignment Restructuring Plan | Fixed Asset Charges
Restructuring Reserve [Roll Forward]
Balance at beginning	0	0		0	0
Special charges, fixed asset charges		1	$ 14	1
Non-cash charges used	(1)	(1)			(20)
Cash payments	0	0			0
Foreign exchange rate impact		0
Balance at ending	0	0			0
2012 Business Realignment Restructuring Plan | Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Balance at beginning	14	12		$ 33	33
Non-cash charges used	0	0			0
Cash payments	(4)	0			(56)
Foreign exchange rate impact		0
Balance at ending	12	14			12
2012 Business Realignment Restructuring Plan | Cost of sales
Restructuring Reserve [Roll Forward]
Special charges, total	3	2			30
2012 Business Realignment Restructuring Plan | Cost of sales | Employee Termination Costs
Restructuring Reserve [Roll Forward]
Special charges, employee terminations costs	1	1			8
2012 Business Realignment Restructuring Plan | Cost of sales | Inventory Charges
Restructuring Reserve [Roll Forward]
Special charges, inventory charges	2	1			8
2012 Business Realignment Restructuring Plan | Cost of sales | Fixed Asset Charges
Restructuring Reserve [Roll Forward]
Special charges, fixed asset charges	0	0			13
2012 Business Realignment Restructuring Plan | Cost of sales | Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Special charges, other restructuring costs	0	0			1
2012 Business Realignment Restructuring Plan | Operating Expense
Restructuring Reserve [Roll Forward]
Special charges, total	6	3			78
2012 Business Realignment Restructuring Plan | Operating Expense | Employee Termination Costs
Restructuring Reserve [Roll Forward]
Special charges, employee terminations costs	3	0			36
2012 Business Realignment Restructuring Plan | Operating Expense | Inventory Charges
Restructuring Reserve [Roll Forward]
Special charges, inventory charges	0	0			0
2012 Business Realignment Restructuring Plan | Operating Expense | Fixed Asset Charges
Restructuring Reserve [Roll Forward]
Special charges, fixed asset charges	1	1			7
2012 Business Realignment Restructuring Plan | Operating Expense | Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Special charges, other restructuring costs	$ 2	$ 2			$ 35

Net Earnings Per Share - Schedu

Net Earnings Per Share - Schedule of Computation of Basic and Diluted Net Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Earnings Per Share [Abstract]
Net earnings attributable to St. Jude Medical, Inc.	$ 290	$ 270	$ 552	$ 519
Basic weighted average shares outstanding	281.1	284.2	282	284.3
Dilution associated with stock-based compensation plans	4.4	4.7	4.3	4.8
Diluted weighted average shares outstanding	285.5	288.9	286.3	289.1
Basic net earnings per share attributable to St. Jude Medical, Inc. (USD per share)	$ 1.03	$ 0.95	$ 1.96	$ 1.83
Diluted net earnings per share attributable to St. Jude Medical, Inc. (USD per share)	$ 1.02	$ 0.93	$ 1.93	$ 1.80
Anti-dilutive shares of common stock excluded from diluted net earnings per share attributable to St. Jude Medical, Inc.	2.6	2.7	3.4	1.3

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information- Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance	$ (270)	$ 56	$ (173)	$ 46
Other comprehensive income (loss) before reclassifications	15	(19)	(80)	(9)
Amounts reclassified to net earnings from accumulated other comprehensive income	(6)	0	(8)	0
Other comprehensive income (loss), net of tax	9	(19)	(88)	(9)
Accumulated other comprehensive income (loss), net of tax, Ending Balance	(261)	37	(261)	37
Unrealized gain (loss) on available-for-sale securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance	16	17	15	17
Other comprehensive income (loss) before reclassifications	(2)	1	1	1
Amounts reclassified to net earnings from accumulated other comprehensive income	(2)	0	(4)	0
Other comprehensive income (loss), net of tax	(4)	1	(3)	1
Accumulated other comprehensive income (loss), net of tax, Ending Balance	12	18	12	18
Unrealized gain (loss) on derivative instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance	32	3	3	3
Other comprehensive income (loss) before reclassifications	(13)	0	16	0
Amounts reclassified to net earnings from accumulated other comprehensive income	(4)	0	(4)	0
Other comprehensive income (loss), net of tax	(17)	0	12	0
Accumulated other comprehensive income (loss), net of tax, Ending Balance	15	3	15	3
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance	(318)	36	(191)	26
Other comprehensive income (loss) before reclassifications	30	(20)	(97)	(10)
Amounts reclassified to net earnings from accumulated other comprehensive income	0	0	0	0
Other comprehensive income (loss), net of tax	30	(20)	(97)	(10)
Accumulated other comprehensive income (loss), net of tax, Ending Balance	$ (288)	$ 16	$ (288)	$ 16

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information - Schedule of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense	$ 0	$ 1	$ (3)	$ 1
Income tax expense	12	22	64	75
Net earnings attributable to St. Jude Medical, Inc.	290	270	552	519
Cost of Goods Sold	424	433	819	816
Unrealized gain (loss) on available-for-sale securities | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense	(3)	0	(7)	0
Income tax expense	1	0	3	0
Net earnings attributable to St. Jude Medical, Inc.	(2)	0	(4)	0
Unrealized gain (loss) on derivative instruments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	0	0	0	0
Net earnings attributable to St. Jude Medical, Inc.	(4)	0	(4)	0
Cost of Goods Sold	$ 4	$ 0	$ 4	$ 0

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 02, 2015	Jul. 04, 2015	Jul. 04, 2015	Jun. 28, 2014	Jan. 13, 2015	Jun. 07, 2013
Equity, Class of Treasury Stock [Line Items]
Authorized amount					$ 500,000,000
Shares repurchased, shares	7.5
Shares repurchased, value	$ 500,000,000		$ 500,000,000	$ 434,000,000
Average repurchase price (USD per share)	$ 66.96
Additions (purchases) of noncontrolling ownership interests			$ 330,000,000	$ 344,000,000
Spinal Modulation
Equity, Class of Treasury Stock [Line Items]
Equity investment						$ 40,000,000
Voting equity interest						19.00%
Additions (purchases) of noncontrolling ownership interests		$ 173,000,000
Ownership percentage by noncontrolling owners		81.00%	81.00%
Contingent consideration		$ 155,000,000	$ 155,000,000
Increase (decrease) in stockholders' equity		(297,000,000)
Increase (decrease) in noncontrolling interest		$ (33,000,000)

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Income (Loss) and Supplemental Equity Information- Supplemental Equity Schedule (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 02, 2015	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				$ 4,244	$ 4,404
Net earnings		$ 282	$ 246	538	485
Other comprehensive income (loss)		9	(19)	(88)	(9)
Cash dividends declared				(163)	(154)
Repurchases of common stock	$ (500)			(500)	(434)
Stock-based compensation				37	34
Common stock issued under employee stock plans and other, net				89	78
Tax benefit from stock plans				14	11
Measurement period fair value adjustment to noncontrolling interest					(36)
Additions (purchases) of noncontrolling ownership interests				(330)	(344)
Ending Balance		3,841	4,035	3,841	4,035
Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				4,199	4,231
Net earnings				552	519
Other comprehensive income (loss)				(88)	(9)
Cash dividends declared				(163)	(154)
Repurchases of common stock				(500)	(434)
Stock-based compensation				35	34
Common stock issued under employee stock plans and other, net				89	78
Tax benefit from stock plans				14	11
Measurement period fair value adjustment to noncontrolling interest					0
Additions (purchases) of noncontrolling ownership interests				(297)	(297)
Ending Balance		3,841	3,979	3,841	3,979
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance				45	173
Net earnings				(14)	(34)
Other comprehensive income (loss)				0	0
Cash dividends declared				0	0
Repurchases of common stock				0	0
Stock-based compensation				2	0
Common stock issued under employee stock plans and other, net				0	0
Tax benefit from stock plans				0	0
Measurement period fair value adjustment to noncontrolling interest					(36)
Additions (purchases) of noncontrolling ownership interests				(33)	(47)
Ending Balance		$ 0	$ 56	$ 0	$ 56

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Jan. 03, 2015
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 352		$ 352		$ 328
Accrued interest and penalties	$ 48		$ 48		$ 44
Effective income tax rate reconciliation, percent	4.10%	8.20%	10.60%	13.40%
Special charges, acquisition-related costs, adjustments to contingent consideration liabilities and discrete tax items	13.20%	10.10%	6.50%	5.90%

Fair Value Measurements - Summa

Fair Value Measurements - Summary Of Components Of Available-For-Sale Securities (Details) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Fair Value Disclosures [Abstract]
Adjusted cost	$ 5	$ 6
Gross unrealized gains	19	24
Fair value	$ 24	$ 30

Fair Value Measurements - Sum39

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value, Recurring Basis (Details) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 24	$ 30
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	822	1,060
Total liabilities	169	50
Recurring | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market securities	462	729
Recurring | Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	24	30
Foreign currency forward contracts	15
Recurring | Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts	3
Trading securities	318	301
Recurring | Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	119
Foreign currency forward contracts	3
Recurring | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	45	50
Foreign currency forward contracts	2
Recurring | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	804	1,060
Total liabilities	0	0
Recurring | Quoted Prices In Active Markets (Level 1) | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market securities	462	729
Recurring | Quoted Prices In Active Markets (Level 1) | Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	24	30
Foreign currency forward contracts	0
Recurring | Quoted Prices In Active Markets (Level 1) | Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts	0
Trading securities	318	301
Recurring | Quoted Prices In Active Markets (Level 1) | Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0
Foreign currency forward contracts	0
Recurring | Quoted Prices In Active Markets (Level 1) | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Foreign currency forward contracts	0
Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	18	0
Total liabilities	5	0
Recurring | Significant Other Observable Inputs (Level 2) | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market securities	0	0
Recurring | Significant Other Observable Inputs (Level 2) | Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Foreign currency forward contracts	15
Recurring | Significant Other Observable Inputs (Level 2) | Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts	3
Trading securities	0	0
Recurring | Significant Other Observable Inputs (Level 2) | Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0
Foreign currency forward contracts	3
Recurring | Significant Other Observable Inputs (Level 2) | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Foreign currency forward contracts	2
Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	164	50
Recurring | Significant Unobservable Inputs (Level 3) | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money-market securities	0	0
Recurring | Significant Unobservable Inputs (Level 3) | Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Foreign currency forward contracts	0
Recurring | Significant Unobservable Inputs (Level 3) | Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts	0
Trading securities	0	0
Recurring | Significant Unobservable Inputs (Level 3) | Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	119
Foreign currency forward contracts	0
Recurring | Significant Unobservable Inputs (Level 3) | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	45	$ 50
Foreign currency forward contracts	$ 0

Fair Value Measurements - Sum40

Fair Value Measurements - Summary of Level 3 Fair Value Measurements of Contingent Consideration (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2015	Apr. 04, 2015	Jan. 03, 2015
Contingent Consideration Liabilities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent Consideration Liabilities	$ 164	$ 27	$ 50
Spinal Modulation | Contingent Consideration Liabilities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent Consideration Liabilities	$ 160	0	0
Spinal Modulation | Probability Weighted Discounted Cash Flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	1.90%
Probability of Payment	95.00%
Spinal Modulation | Probability Weighted Discounted Cash Flow | Contingent Consideration Liabilities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent Consideration Liabilities	$ 117
Spinal Modulation | Monte Carlo Simulation
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of Payment	25.00%
Spinal Modulation | Monte Carlo Simulation | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	1.10%
Spinal Modulation | Monte Carlo Simulation | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	17.00%
Spinal Modulation | Monte Carlo Simulation | Contingent Consideration Liabilities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent Consideration Liabilities	$ 43
Nanostim | Contingent Consideration Liabilities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent Consideration Liabilities	$ 4	$ 27	$ 50
Nanostim | Probability Weighted Discounted Cash Flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	5.00%
Probability of Payment	10.00%
Nanostim | Probability Weighted Discounted Cash Flow | Contingent Consideration Liabilities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent Consideration Liabilities	$ 4

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Input Reconciliation of Contingent Consideration Liability (Details) - Fair Value, Inputs, Level 3 - Contingent Consideration Liabilities - USD ($) $ in Millions	3 Months Ended
	Jul. 04, 2015	Apr. 04, 2015
Contingent Consideration Liability [Roll Forward]
Beginning balance	$ 27	$ 50
Change in fair value of contingent consideration	(18)	(23)
Initial fair value measurement of contingent consideration	155
Ending balance	164	27
Spinal Modulation
Contingent Consideration Liability [Roll Forward]
Beginning balance	0	0
Change in fair value of contingent consideration	5	0
Initial fair value measurement of contingent consideration	155
Ending balance	160	0
Nanostim
Contingent Consideration Liability [Roll Forward]
Beginning balance	27	50
Change in fair value of contingent consideration	(23)	(23)
Initial fair value measurement of contingent consideration	0
Ending balance	$ 4	$ 27

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2015	Jun. 28, 2014	Mar. 29, 2014	Jul. 04, 2015	Jan. 03, 2015
Fair Value Inputs, Liabilities, Quantitative Information
Cost method investments				$ 75	$ 71
Fixed rate debt obligations fair value disclosure				2,274
Fixed rate debt obligations carrying value				2,265
Other debt carrying value				1,476
Cash equivalents at carrying value excluding money market securities				$ 448	$ 713
Fixed Asset Charges | 2012 Business Realignment Restructuring Plan
Fair Value Inputs, Liabilities, Quantitative Information
Fixed asset charges	$ 1	$ 14	$ 1

Derivative Financial Instrume43

Derivative Financial Instruments (Details) - Jul. 04, 2015 - USD ($) $ in Millions	Total
Derivatives, Fair Value [Line Items]
Unrealized gains expected to be reclassed to earnings over the next 12 months	$ 10
Foreign currency forward contracts | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Gross notional amount of derivative	1,000
After-tax net unrealized gain related to foreign currency forward contracts recorded in accumulated other comprehensive income	12
Foreign currency forward contracts | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Gross notional amount of derivative	$ 171

Derivative Financial Instrume44

Derivative Financial Instruments Summary of Derivative Instruments (Gain) Loss (Details) - Jul. 04, 2015 - Foreign currency forward contracts - Cost of sales - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	Total	Total
Derivative Instruments, (Gain) Loss [Line Items]
Pre-tax (gain) loss recognized in other comprehensive income on effective portion of derivative	$ 15	$ (19)
Pre-tax (Gain) loss reclassified from Accumulated Other Comprehensive Income	(4)	(4)
Ineffective Portion of (Gain) loss on derivatives excluded from effectiveness testing	$ 0	$ 0

Derivative Financial Instrume45

Derivative Financial Instruments Summary of Derivative Instruments (Gain) Loss, Not Designated as Hedging (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Foreign currency forward contracts | Other (income) expense | Not Designated as Hedging Instrument
Derivative Instruments, (Gain) Loss [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, (Gain) Loss, Net	$ 1	$ 4	$ (8)	$ 4

Derivative Financial Instrume46

Derivative Financial Instruments Schedule of Fair Value of Derivative Instruments (Details) $ in Millions	Jul. 04, 2015USD ($)
Derivatives, Fair Value [Line Items]
Derivative asset	$ 1
Derivative liability	0
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Total	13
Foreign currency forward contracts | Designated as Hedging Instrument | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	13
Foreign currency forward contracts | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value [Line Items]
Derivative asset	3
Foreign currency forward contracts | Designated as Hedging Instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	(3)
Foreign currency forward contracts | Designated as Hedging Instrument | Other liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	(2)
Foreign currency forward contracts | Not Designated as Hedging Instrument | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	2
Foreign currency forward contracts | Not Designated as Hedging Instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability	$ 0

Derivative Financial Instrume47

Derivative Financial Instruments Schedule of Offsetting Derivative Assets (Details) $ in Millions	Jul. 04, 2015USD ($)
Assets
Gross amount of derivatives subject to master netting agreements	$ 1
Gross amount of derivatives not subject to master netting agreements	17
Gross amount of derivatives	18
Gross amount of eligible offsetting derivative liabilities	0
Gross amount of cash collateral received not offset	0
Net amount of derivatives subject to master netting agreements	1
Net amount of derivatives not subject to master netting agreements	17
Net amount of derivatives	18
Liabilities
Gross amount of derivatives subject to master netting agreements	0
Gross amount of derivatives not subject to master netting agreements	5
Gross amount of derivatives	5
Gross amount of eligible offsetting derivative liabilities	0
Net amount of derivatives subject to master netting agreements	0
Net amount of derivatives not subject to master netting agreements	5
Net amount of derivatives	$ 5

Business Combination (Details)

Business Combination (Details)	Jul. 21, 2015$ / shares
Subsequent Event | Thoratec
Business Acquisition [Line Items]
Business acquisition, share price (USD per share)	$ 63.50