JOHNSON & JOHNSON, 10-K filed on 2/13/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 29, 2024
Feb. 06, 2025
Jun. 30, 2024
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 29, 2024    
Document Transition Report false    
Entity File Number 1-3215    
Entity Registrant Name Johnson & Johnson    
Entity Incorporation, State or Country Code NJ    
Entity Tax Identification Number 22-1024240    
Entity Address, Address Line One One Johnson & Johnson Plaza    
Entity Address, City or Town New Brunswick    
Entity Address, State or Province NJ    
Entity Address, Postal Zip Code 08933    
City Area Code 732    
Local Phone Number 524-0400    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 352
Entity Common Stock, Shares Outstanding   2,407,616,693  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Part III:
Portions of the registrant’s proxy statement for its 2025 annual meeting of shareholders to be filed within 120 days after the close of the registrant’s fiscal year (the “Proxy Statement”), are incorporated by reference to this report on Form 10-K (this “Report”).
    
Entity Central Index Key 0000200406    
Current Fiscal Year End Date --12-29    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
Common Stock, Par Value $1.00      
Document Information [Line Items]      
Title of 12(b) Security Common Stock, Par Value $1.00    
Trading Symbol JNJ    
Security Exchange Name NYSE    
1.650% Notes Due May 2035      
Document Information [Line Items]      
Title of 12(b) Security 1.650% Notes Due May 2035    
Trading Symbol JNJ35    
Security Exchange Name NYSE    
1.150% Notes Due November 2028      
Document Information [Line Items]      
Title of 12(b) Security 1.150% Notes Due November 2028    
Trading Symbol JNJ28    
Security Exchange Name NYSE    
3.20% Notes Due November 2032      
Document Information [Line Items]      
Title of 12(b) Security 3.20% Notes Due November 2032    
Trading Symbol JNJ32    
Security Exchange Name NYSE    
3.350% Notes Due November 2036      
Document Information [Line Items]      
Title of 12(b) Security 3.350% Notes Due November 2036    
Trading Symbol JNJ36A    
Security Exchange Name NYSE    
3.550% Notes Due November 2044      
Document Information [Line Items]      
Title of 12(b) Security 3.550% Notes Due November 2044    
Trading Symbol JNJ44    
Security Exchange Name NYSE    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 29, 2024
Auditor Information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Florham Park, New Jersey
Auditor Firm ID 238
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 24,105 $ 21,859
Marketable securities 417 1,068
Accounts receivable trade, less allowances $167 (2023, $166) 14,842 14,873
Inventories 12,444 11,181
Prepaid expenses and other receivables 4,085 4,514
Total current assets 55,893 53,495
Property, plant and equipment, net 20,518 19,898
Intangible assets, net 37,618 34,175
Goodwill 44,200 36,558
Deferred taxes on income 10,461 9,279
Other assets 11,414 14,153
Total assets 180,104 167,558
Current liabilities    
Loans and notes payable 5,983 3,451
Accounts payable 10,311 9,632
Accrued liabilities 8,549 10,212
Accrued rebates, returns and promotions 17,580 16,001
Accrued compensation and employee related obligations 4,126 3,993
Accrued taxes on income 3,772 2,993
Total current liabilities 50,321 46,282
Long-term debt 30,651 25,881
Deferred taxes on income 2,448 3,193
Employee related obligations 7,255 7,149
Long-term taxes payable 390 2,881
Other liabilities 17,549 13,398
Total liabilities 108,614 98,784
Commitments and Contingencies
Shareholders’ equity    
Preferred stock — without par value (authorized and unissued 2,000,000 shares) 0 0
Common stock — par value $1.00 per share (Note 12) (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) 3,120 3,120
Accumulated other comprehensive income (loss) (11,741) (12,527)
Retained earnings and Additional-paid-in-capital 155,791 153,843
Less: common stock held in treasury, at cost (Note 12) (712,921,000 shares and 712,765,000 shares) 75,680 75,662
Total shareholders’ equity 71,490 68,774
Total liabilities and shareholders’ equity $ 180,104 $ 167,558
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Allowances for doubtful accounts $ 167 $ 166
Preferred stock, shares authorized (in shares) 2,000,000 2,000,000
Common stock, par value per share (in usd per share) $ 1.00 $ 1.00
Common stock, shares authorized (in shares) 4,320,000,000 4,320,000,000
Common stock, shares issued (in shares) 3,119,843,000 3,119,843,000
Treasury stock (in shares) 712,921,000 712,765,000
v3.25.0.1
Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Income Statement [Abstract]      
Sales to customers $ 88,821 $ 85,159 $ 79,990
Cost of products sold 27,471 26,553 24,596
Gross profit 61,350 58,606 55,394
Selling, marketing and administrative expenses 22,869 21,512 20,246
Research and development expense 17,232 15,085 14,135
In-process research and development impairments 211 313 783
Interest income (1,332) (1,261) (490)
Interest expense, net of portion capitalized 755 772 276
Other (income) expense, net 4,694 6,634 810
Restructuring 234 489 275
Earnings before provision for taxes on income 16,687 15,062 19,359
Provision for taxes on income 2,621 1,736 2,989
Net earnings from continuing operations 14,066 13,326 16,370
Net earnings from discontinued operations 0 21,827 1,571
Net earnings $ 14,066 $ 35,153 $ 17,941
Net earnings per share      
Basic net earnings per share from continuing operations (in dollars per share) $ 5.84 $ 5.26 $ 6.23
Basic net earnings per share from discontinued operations (in dollars per share) 0 8.62 0.60
Basic (in dollars per share) 5.84 13.88 6.83
Diluted net earnings per share from continuing operations (in dollars per share) 5.79 5.20 6.14
Diluted net earnings per share from discontinuing operations (in dollars per share) 0 8.52 0.59
Diluted (in dollars per share) $ 5.79 $ 13.72 $ 6.73
Average shares outstanding      
Basic (in shares) 2,407.3 2,533.5 2,625.2
Diluted (in shares) 2,429.4 2,560.4 2,663.9
v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings $ 14,066 $ 35,153 $ 17,941
Other comprehensive income (loss), net of tax      
Foreign currency translation 1,708 (3,221) (1,796)
Securities:      
Unrealized holding gain (loss) arising during period 2 26 (24)
Reclassifications to earnings 0 0 0
Net change 2 26 (24)
Employee benefit plans:      
Prior service credit (cost), net of amortization (154) (149) (160)
Gain (loss), net of amortization 541 (1,183) 1,854
Consumer settlement/ curtailment 0 23 0
Effect of exchange rates 62 (90) 111
Net change 449 (1,399) 1,805
Derivatives & hedges:      
Unrealized gain (loss) arising during period (511) 422 454
Reclassifications to earnings (862) (569) (348)
Net change (1,373) (147) 106
Other comprehensive income (loss) 786 (4,741) 91
Comprehensive income $ 14,852 $ 30,412 $ 18,032
v3.25.0.1
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Statement of Comprehensive Income [Abstract]      
Foreign currency translation $ (1,100) $ 797 $ (460)
Employee benefits 86 (289) 461
Derivatives & hedges $ (365) $ (39) $ 30
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Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Retained Earnings and Additional paid-in capital
Accumulated Other Comprehensive Income (Loss)
Common Stock Issued Amount
Treasury Stock Amount
Beginning Balance at Jan. 02, 2022 $ 74,023 $ 123,060 $ (13,058) $ 3,120 $ (39,099)
Net earnings 17,941 17,941      
Cash dividends paid (11,682) (11,682)      
Employee compensation and stock option plans 2,466 (974)     3,440
Repurchase of common stock (6,035)       (6,035)
Other comprehensive income (loss), net of tax 91   91    
Ending Balance at Jan. 01, 2023 76,804 128,345 (12,967) 3,120 (41,694)
Net earnings 35,153 35,153      
Cash dividends paid (11,770) (11,770)      
Employee compensation and stock option plans 2,193 (336)     2,529
Repurchase of common stock (5,054)       (5,054)
Other (25)       25
Kenvue Separation /IPO (23,786) 2,451 5,181   (31,418)
Other comprehensive income (loss), net of tax (4,741)   (4,741)    
Ending Balance at Dec. 31, 2023 68,774 153,843 (12,527) 3,120 (75,662)
Net earnings 14,066 14,066      
Cash dividends paid (11,823) (11,823)      
Employee compensation and stock option plans 2,094 (295)     2,389
Repurchase of common stock (2,407)       (2,407)
Other comprehensive income (loss), net of tax 786   786    
Ending Balance at Dec. 29, 2024 $ 71,490 $ 155,791 $ (11,741) $ 3,120 $ (75,680)
v3.25.0.1
Consolidated Statements of Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Statement of Stockholders' Equity [Abstract]      
Cash dividends paid (in dollars per share) $ 4.91 $ 4.70 $ 4.45
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Cash flows from operating activities      
Net earnings $ 14,066 $ 35,153 $ 17,941
Adjustments to reconcile net earnings to cash flows from operating activities:      
Depreciation and amortization of property and intangibles 7,339 7,486 6,970
Stock based compensation 1,176 1,162 1,138
Asset write-downs 405 1,295 1,216
Charges for acquired in-process research and development assets 1,841 483 0
(Gain) on separation of Kenvue 0 (20,984) 0
Net gain on sale of assets/businesses (226) (117) (380)
Deferred tax provision (2,183) (4,194) (1,663)
Credit losses and accounts receivable allowances 11 0 (17)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:      
Increase in accounts receivable (406) (624) (1,290)
Increase in inventories (1,128) (1,323) (2,527)
Increase in accounts payable and accrued liabilities 1,621 2,346 1,098
Decrease/(Increase) in other current and non-current assets 1,717 (3,480) 687
Increase/(Decrease) in other current and non-current liabilities 33 5,588 (1,979)
Net cash flows from operating activities 24,266 22,791 21,194
Cash flows from investing activities      
Additions to property, plant and equipment (4,424) (4,543) (4,009)
Proceeds from the disposal of assets/businesses, net 675 358 543
Acquisitions, net of cash acquired (15,146) 0 (17,652)
Purchases of in-process research and development assets (1,783) (470) 0
Purchases of investments (1,726) (10,906) (32,384)
Sales of investments 2,462 19,390 41,609
Credit support agreements activity, net 1,517 (2,963) (249)
Other (including capitalized licenses and milestones) (174) 12 (229)
Net cash (used by)/from investing activities (18,599) 878 (12,371)
Cash flows from financing activities      
Dividends to shareholders (11,823) (11,770) (11,682)
Repurchase of common stock (2,432) (5,054) (6,035)
Proceeds from short-term debt 15,277 13,743 16,134
Repayment of short-term debt (9,463) (22,973) (6,550)
Proceeds from long-term debt, net of issuance costs 6,660 0 2
Repayment of long-term debt (1,453) (1,551) (2,134)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 838 1,094 1,329
Credit support agreements activity, net 272 (219) (28)
Settlement of convertible debt acquired from Shockwave (970) 0 0
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation 0 8,047 0
Proceeds from Kenvue initial public offering 0 4,241 0
Cash transferred to Kenvue at separation 0 (1,114) 0
Other (38) (269) 93
Net cash used by financing activities (3,132) (15,825) (8,871)
Effect of exchange rate changes on cash and cash equivalents (289) (112) (312)
Increase/(Decrease) in cash and cash equivalents 2,246 7,732 (360)
Cash and cash equivalents from continuing operations, beginning of period 21,859 12,889 13,309
Cash and cash equivalents from discontinued operations, beginning of period 0 1,238 1,178
Cash and cash equivalents, beginning of year 21,859 14,127 14,487
Cash and cash equivalents from continuing operations, end of period 24,105 21,859 12,889
Cash and cash equivalents from discontinued operations, end of period 0 0 1,238
Cash and cash equivalents, end of year 24,105 21,859 14,127
Cash paid during the year for:      
Interest 1,990 1,836 982
Interest, net of amount capitalized 1,911 1,766 933
Income taxes, inclusive of discontinued operations 6,714 8,574 5,223
Supplemental schedule of non-cash investing and financing activities      
Treasury stock issued for employee compensation and stock option plans, net of cash proceeds/ employee withholding tax on stock awards 1,551 1,435 2,114
Acquisitions      
Fair value of assets acquired 16,091 0 18,710
Fair value of liabilities assumed (1,632) 0 (1,058)
Net cash paid for acquisitions (Note 18) $ 14,459 $ 0 $ 17,652
v3.25.0.1
Summary of significant accounting policies
 12 Months Ended
Dec. 29, 2024
Accounting Policies [Abstract]  
Summary of significant accounting policies Summary of significant accounting policies
Principles of consolidation
The consolidated financial statements include the accounts of Johnson & Johnson and its subsidiaries (the Company). Intercompany accounts and transactions are eliminated. Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures.
Description of the company
The Company has approximately 138,100 employees worldwide engaged in the research and development, manufacture and sale of a broad range of products in the healthcare field. The Company conducts business in virtually all countries of the world and its primary focus is on products related to human health and well-being.
Kenvue IPO/separation and discontinued operations
On May 8, 2023, Kenvue, completed an initial public offering (the IPO) resulting in the issuance of 198,734,444 shares of its common stock, par value $0.01 per share (the “Kenvue Common Stock”), at an initial public offering of $22.00 per share for net proceeds of $4.2 billion. The excess of the net proceeds from the IPO over the net book value of the Johnson & Johnson divested interest was $2.5 billion and was recorded to additional paid-in capital. As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock and at July 2, 2023, the
non-controlling interest of $1.3 billion associated with Kenvue was reflected in equity attributable to non-controlling interests in the consolidated balance sheet in the fiscal second quarter of 2023.
On August 23, 2023, Johnson & Johnson completed the disposition of an additional 80.1% ownership of the shares of Kenvue through an exchange offer. Following the exchange offer, the Company owned 9.5% of the shares of Kenvue which were accounted for as an equity investment carried at fair value within continuing operations. The historical results of the Consumer Health business (which previously represented the Consumer Health business segment) are reflected as discontinued operations in the Company’s Consolidated Financial Statements through the date of the exchange offer (see Note 21 for additional details). Unless otherwise indicated, the information in the notes to the Consolidated Financial Statements refer only to Johnson & Johnson’s continuing operations.
In the fiscal second quarter of 2024 the Company completed a debt for equity exchange of the retained stake in Kenvue. Upon completion of the debt for equity exchange, the Company no longer owns any shares of Kenvue Common Stock.
Business segments
The Company is organized into two business segments: Innovative Medicine and MedTech. The Innovative Medicine segment is focused on the following therapeutic areas: Immunology, Infectious Diseases, Neuroscience, Oncology, Pulmonary Hypertension, and Cardiovascular and Metabolic. Products in this segment are distributed directly to retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use. The MedTech segment includes a broad portfolio of products used in the Orthopaedic, Surgery, Cardiovascular (previously referred to as Interventional Solutions) and Vision fields. These products are distributed to wholesalers, hospitals and retailers, and used principally in the professional fields by physicians, nurses, hospitals, eye care professionals and clinics.
New accounting standards
Recently adopted accounting standards
ASU 2023-07: Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures
The Company adopted the standard in the fiscal year 2024, which requires expanded annual and interim disclosures for significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The standard was applied retrospectively to all periods presented in the financial statements. As this accounting standard only impacts disclosures, it did not have a material impact on the Company’s Consolidated Financial Statements. See Note 17 for the required disclosures.
Recently issued accounting standards
Not adopted as of December 29, 2024
ASU 2024-03: Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
This update requires disclosure of disaggregated information about certain income statement expense line items on an annual and interim basis. This update will be effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements.
ASU 2023-09: Income Taxes (Topic 740) - Improvements to Income Tax Disclosures
This update standardizes categories for the effective tax rate reconciliation, requires disaggregation of income taxes and additional income tax-related disclosures. This update is required to be effective for the Company for fiscal periods beginning after December 15, 2024. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements.
Cash equivalents
The Company classifies all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months from the date of purchase as current marketable securities. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company invests its cash primarily in government securities and obligations, corporate debt securities, money market funds and reverse repurchase agreements (RRAs).
RRAs are collateralized by deposits in the form of Government Securities and Obligations for an amount not less than 102% of their value. The Company does not record an asset or liability as the Company is not permitted to sell or repledge the associated collateral. The Company has a policy that the collateral has at least an A (or equivalent) credit rating. The Company utilizes a third party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the RRAs on a daily basis. RRAs with stated maturities of greater than three months from the date of purchase are classified as marketable securities.
Investments
Investments classified as held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings. Investments classified as available-for-sale debt securities are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income. Available-for-sale securities available for current operations are classified as current assets; otherwise, they are classified as long term. Management determines the appropriate classification of its investment in debt and equity securities at the time of purchase and re-evaluates such determination at each balance sheet date. The Company reviews its investments for impairment and adjusts these investments to fair value through earnings, as required. 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost. The Company utilizes the straight-line method of depreciation over the estimated useful lives of the assets:
Building and building equipment
30 years
Land and leasehold improvements
10 - 20 years
Machinery and equipment
2 - 13 years
The Company capitalizes certain computer software and development costs, included in machinery and equipment, when incurred in connection with developing or obtaining computer software for internal use. Capitalized software costs are amortized over the estimated useful lives of the software, which generally range from 3 to 8 years.
The Company reviews long-lived assets to assess recoverability using undiscounted cash flows. When certain events or changes in operating or economic conditions occur, an impairment assessment may be performed on the recoverability of the carrying value of these assets. If the asset is determined to be impaired, the loss is measured based on the difference between the asset’s fair value and its carrying value. If quoted market prices are not available, the Company will estimate fair value using a discounted value of estimated future cash flows.
Revenue recognition
The Company recognizes revenue from product sales when obligations under the terms of a contract with the customer are satisfied; generally, this occurs with the transfer of control of the goods to customers. The Company's global payment terms are typically between 30 to 90 days. Provisions for certain rebates, sales incentives, trade promotions, coupons, product returns, discounts to customers and governmental clawback provisions are accounted for as variable consideration and recorded as a reduction in sales. The liability is recognized within Accrued rebates, returns, and promotions on the consolidated balance sheet.
Product discounts granted are based on the terms of arrangements with direct, indirect and other market participants, as well as market conditions, including consideration of competitor pricing. Rebates and discounts are estimated based on contractual terms, historical experience, patient outcomes, trend analysis and projected market conditions in the various markets served. A significant portion of the liability related to rebates is from the sale of the Company's pharmaceutical products within the U.S., primarily the Managed Care, Medicare and Medicaid programs, which amounted to $12.3 billion and $11.5 billion as of December 29, 2024 and December 31, 2023, respectively. The Company evaluates market conditions for products or groups of products primarily through the analysis of wholesaler and other third-party sell-through and market research data, as well as internally generated information.
Sales returns are estimated and recorded based on historical sales and returns information. Products that have lost patent exclusivity, or that otherwise exhibit unusual sales or return patterns due to dating, competition or other marketing matters are specifically investigated and analyzed as part of the accounting for sales return accruals.
Sales returns allowances represent a reserve for products that may be returned due to expiration, destruction in the field, or in specific areas, product recall. In accordance with the Company’s accounting policies, the Company generally issues credit to customers for returned goods. The Company’s sales returns reserves are accounted for in accordance with the U.S. GAAP guidance for revenue recognition when right of return exists. Sales returns reserves are recorded at full sales value. Sales returns in the Innovative Medicine segment are almost exclusively not resalable. Sales returns for certain franchises in the MedTech segment are typically resalable but are not material. The Company infrequently exchanges products from inventory for returned products. The sales returns reserve for the total Company has been approximately 1.0% of annual net trade sales during each of the fiscal years 2024, 2023 and 2022.
Promotional programs, such as product listing allowances are recorded in the same period as related sales and include
volume-based sales incentive programs. Volume-based incentive programs are based on the estimated sales volumes for the incentive period and are recorded as products are sold. These arrangements are evaluated to determine the appropriate amounts to be deferred or recorded as a reduction of revenue. The Company also earns profit-share payments through collaborative arrangements of certain products, which are included in sales to customers. Profit-share payments were less than 2.0% of the total revenues in the fiscal year 2024 and 2023, respectively, and less than 3.0% of total revenues in the fiscal year 2022 and are included in sales to customers.
See Note 17 to the Consolidated Financial Statements for further disaggregation of revenue.
Shipping and handling
Shipping and handling costs incurred were $0.9 billion, $0.9 billion and $0.8 billion in fiscal years 2024, 2023 and 2022, respectively, and are included in selling, marketing and administrative expense. The amount of revenue received for shipping and handling is less than 1.0% of sales to customers for all periods presented.
Inventories
Inventories are stated at the lower of cost or net realizable value determined by the first-in, first-out method.
Intangible assets and goodwill
The authoritative literature on U.S. GAAP requires that goodwill and intangible assets with indefinite lives be assessed annually for impairment. The Company completed its annual impairment test for 2024 in the fiscal fourth quarter. Future impairment tests will be performed annually in the fiscal fourth quarter, or sooner if warranted. In-process research and development purchased as part of a business combination is accounted for as an indefinite lived intangible asset until the underlying project is completed, at which point the intangible asset will be accounted for as a definite lived intangible asset. If warranted the purchased in-process research and development could be written off or partially impaired depending on the underlying program.
Intangible assets that have finite useful lives continue to be amortized over their useful lives and are reviewed for impairment when warranted by economic conditions. See Note 5 for further details on Intangible Assets and Goodwill.
Financial instruments
As required by U.S. GAAP, all derivative instruments are recorded on the balance sheet at fair value. Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement determined using assumptions that market participants would use in pricing an asset or liability. The authoritative literature establishes a three-level hierarchy to prioritize the inputs used in measuring fair value, with Level 1 having the highest priority and Level 3 having the lowest. Changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income, depending on whether the derivative is designated as part of a hedge transaction, and if so, the type of hedge transaction.
The Company documents all relationships between hedged items and derivatives. The overall risk management strategy includes reasons for undertaking hedge transactions and entering into derivatives. The objectives of this strategy are: (1) minimize foreign currency exposure’s impact on the Company’s financial performance; (2) protect the Company’s cash flow from adverse movements in foreign exchange rates; (3) ensure the appropriateness of financial instruments; and (4) manage the enterprise risk associated with financial institutions. See Note 6 for additional information on Financial Instruments.
Leases
The Company determines whether an arrangement is a lease at contract inception by establishing if the contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Right of Use (ROU) Assets and Lease Liabilities for operating leases are included in Other assets, Accrued liabilities, and Other liabilities on the consolidated balance sheet. The ROU Assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Commitments under finance leases are not significant, and are included in Property, plant and equipment, Loans and notes payable, and Long-term debt on the consolidated balance sheet.
ROU Assets and Lease Liabilities are recognized at the lease commencement date based on the present value of all minimum lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments, when the implicit rate is not readily determinable. Lease terms may include options to extend or terminate the lease. These options are included in the lease term when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. The Company has elected the following policy elections on adoption: use of portfolio approach on leases of assets under master service agreements, exclusion of short term leases on the balance sheet, and not separating lease and non-lease components.
The Company primarily has operating lease for space, vehicles, manufacturing equipment and data processing equipment. The ROU asset pertaining to leases from continuing operations was $1.1 billion and $1.0 billion in fiscal years 2024 and 2023, respectively. The lease liability from continuing operations was $1.2 billion and $1.1 billion in fiscal years 2024 and 2023, respectively. The operating lease costs from continuing operations were $0.2 billion in fiscal years 2024, 2023 and 2022. Cash paid for amounts included in the measurement of lease liabilities from continuing operations were $0.2 billion in fiscal years 2024, 2023 and 2022.
Product liability
Accruals for product liability claims are recorded, on an undiscounted basis, when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on existing information and actuarially determined estimates where applicable. The accruals are adjusted periodically as additional information becomes available. The Company accrues an estimate of the legal defense costs needed to defend each matter when those costs are probable and can be reasonably estimated. To the extent adverse verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated.
The Company has self insurance through a wholly-owned captive insurance company. In addition to accruals in the self insurance program, claims that exceed the insurance coverage are accrued when losses are probable and amounts can be reasonably estimated.
Research and development
Research and development expenses are expensed as incurred in accordance with ASC 730, Research and Development. Upfront and milestone payments made to third parties in connection with research and development collaborations are expensed as incurred up to the point of regulatory approval. Payments made to third parties subsequent to regulatory approval are capitalized and amortized over the remaining useful life of the related product. Amounts capitalized for such payments are included in other intangibles, net of accumulated amortization.
The Company enters into collaborative arrangements, typically with other pharmaceutical or biotechnology companies, to develop and commercialize drug candidates or intellectual property. These arrangements typically involve two (or more) parties who are active participants in the collaboration and are exposed to significant risks and rewards dependent on the commercial success of the activities. These collaborations usually involve various activities by one or more parties, including research and development, marketing and selling and distribution. Often, these collaborations require upfront, milestone and royalty or profit share payments, contingent upon the occurrence of certain future events linked to the success of the asset in development. Amounts due from collaborative partners related to development activities are generally reflected as a reduction of research and development expense because the performance of contract development services is not central to the Company’s operations. In general, the income statement presentation for these collaborations is as follows:
Nature/Type of CollaborationStatement of Earnings Presentation
Third-party sale of product & profit share payments receivedSales to customers
Royalties/milestones paid to collaborative partner (post-regulatory approval)*Cost of products sold
Royalties received from collaborative partnerOther income (expense), net
Upfront payments & milestones paid to collaborative partner (pre-regulatory approval)Research and development expense
Research and development payments to collaborative partnerResearch and development expense
Research and development payments received from collaborative partner or government entityReduction of Research and development expense
*    Milestones are capitalized as intangible assets and amortized to cost of products sold over the useful life.
For all years presented, there was no individual project that represented greater than 5% of the total annual consolidated research and development expense other than the acquired in-process research & development expense of $1.25 billion to secure the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition) in fiscal year 2024.
The Company has a number of products and compounds developed in collaboration with strategic partners including XARELTO, co-developed with Bayer HealthCare AG, IMBRUVICA, developed in collaboration and co-marketed with Pharmacyclics LLC, an AbbVie company and CARVYKTI, licensed and developed in collaboration with Legend Biotech USA Inc. and Legend Biotech Ireland Limited.
Separately, the Company has a number of licensing arrangements for products and compounds including DARZALEX, licensed from Genmab A/S.
Advertising
Costs associated with advertising are expensed in the year incurred and are included in selling, marketing and administrative expenses. Advertising expenses worldwide, which comprised television, radio, print media and Internet advertising, were $0.6 billion, $0.5 billion and $0.7 billion in fiscal years 2024, 2023 and 2022, respectively.
Income taxes
Income taxes are recorded based on amounts refundable or payable for the current year and include the results of any difference between U.S. GAAP accounting and tax reporting, recorded as deferred tax assets or liabilities. The Company estimates deferred tax assets and liabilities based on enacted tax regulations and rates. Future changes in tax laws and rates may affect recorded deferred tax assets and liabilities in the future.
The Company has unrecognized tax benefits for uncertain tax positions. The Company follows U.S. GAAP which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Management believes that changes in these estimates would not have a material effect on the Company's results of operations, cash flows or financial position.
In 2017, the United States enacted into law new U.S. tax legislation, the U.S. Tax Cuts and Jobs Act (TCJA). This law included provisions for a comprehensive overhaul of the corporate income tax code, including a reduction of the statutory corporate tax rate from 35% to 21%, effective on January 1, 2018. The TCJA included a provision for a tax on all previously undistributed earnings of U.S. companies located in foreign jurisdictions. Undistributed earnings in the form of cash and cash equivalents were taxed at a rate of 15.5% and all other earnings were taxed at a rate of 8.0%. This tax is payable over 8 years and will not accrue interest. These payments began in fiscal year 2018 and will continue through 2025. The final payment of $2.5 billion will be made in fiscal year 2025.
The TCJA also includes provisions for a tax on global intangible low-taxed income (GILTI). GILTI is described as the excess of a U.S. shareholder’s total net foreign income over a deemed return on tangible assets, as provided by the TCJA. In January 2018, the FASB issued guidance that allows companies to elect as an accounting policy whether to record the tax effects of GILTI in the period the tax liability is generated (i.e., “period cost”) or provide for deferred tax assets and liabilities related to basis differences that exist and are expected to affect the amount of GILTI inclusion in future years upon reversal (i.e., “deferred method”). The Company has elected to account for GILTI under the deferred method. The deferred tax amounts recorded are based on the evaluation of temporary differences that are expected to reverse as GILTI is incurred in future periods.
The Company has recorded deferred tax liabilities on all undistributed earnings prior to December 31, 2017 from its international subsidiaries. The Company has not provided deferred taxes on the undistributed earnings subsequent to January 1, 2018 from certain international subsidiaries where the earnings are considered to be indefinitely reinvested. The Company intends to continue to reinvest these earnings in those international operations. If the Company decides at a later date to repatriate these earnings to the U.S., the Company would be required to provide for the net tax effects on these amounts. The Company estimates that the tax effect of this repatriation would be approximately $0.5 billion under currently enacted tax laws and regulations and at current currency exchange rates. This amount does not include the possible benefit of U.S. foreign tax credits, which may substantially offset this cost.
See Note 8 to the Consolidated Financial Statements for further information regarding income taxes.
Net earnings per share
Basic earnings per share is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities were exercised or converted into common stock using the treasury stock method.
Use of estimates
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported. Estimates are used when accounting for sales discounts, rebates, allowances and incentives, product liabilities, income taxes, withholding taxes, depreciation, amortization, employee benefits, contingencies and intangible asset and liability valuations. Actual results may or may not differ from those estimates.
The Company follows the provisions of U.S. GAAP when recording litigation related contingencies. A liability is recorded when a loss is probable and can be reasonably estimated. The best estimate of a loss within a range is accrued; however, if no estimate in the range is better than any other, the minimum amount is accrued.
Supplier finance program obligations
The Company has agreements for supplier finance programs with third-party financial institutions. These programs provide participating suppliers the ability to finance payment obligations from the Company with the third-party financial institutions. The Company is not a party to the arrangements between the suppliers and the third-party financial institutions. The Company’s obligations to its suppliers, including amounts due, and scheduled payment dates (which have general payment terms of 90 days), are not affected by a participating supplier’s decision to participate in the program.
Confirmed obligations under the program as of December 29, 2024, and December 31, 2023, were $0.8 billion and $0.7 billion, respectively. The obligations are presented as Accounts payable on the Consolidated Balance Sheets.
The rollforward of the Company's valid obligations under the program were as follows:
2024
(Dollars in Millions)
Confirmed obligations - beginning of the year$704
Invoices confirmed during the year3,048
Confirmed invoices paid during the year2,964
Confirmed obligations - end of the year$788
Annual closing date
The Company follows the concept of a fiscal year, which ends on the Sunday nearest to the end of the month of December. Normally each fiscal year consists of 52 weeks, but every five or six years the fiscal year consists of 53 weeks, and therefore includes additional shipping days, as was the case in fiscal year 2020, and will be the case again in fiscal year 2026.
v3.25.0.1
Cash, cash equivalents and current marketable securities
 12 Months Ended
Dec. 29, 2024
Cash and Cash Equivalents [Abstract]  
Cash, cash equivalents and current marketable securities Cash, cash equivalents and current marketable securities
At the end of the fiscal year 2024 and 2023, cash, cash equivalents and current marketable securities comprised:
(Dollars in Millions)2024
Carrying
 Amount		Unrecognized
Gain		Estimated
 Fair Value		Cash & Cash
Equivalents		Current
Marketable
Securities
Cash$2,918—2,9182,918—
Non-U.S. Sovereign Securities(1)
120—120—120
U.S. Reverse repurchase agreements7,100—7,1007,100—
Money market funds6,123—6,1236,123—
Time deposits(1)
1,045—1,0451,045—
Subtotal $17,306—17,30617,186120
U.S. Gov't Securities$6,81516,8166,79620
Other Sovereign Securities176—1768393
Corporate and other debt securities224—22440184
Subtotal available for sale(2)
$7,21517,2166,919297
Total cash, cash equivalents and current marketable securities
$24,105417
(Dollars in Millions)2023
Carrying AmountUnrecognized
Loss		Estimated Fair ValueCash & Cash EquivalentsCurrent Marketable Securities
Cash$3,340—3,3403,340—
Non-U.S. Sovereign Securities(1)
522—522174348
U.S. Reverse repurchase agreements4,377—4,3774,377—
Corporate debt securities(1)
338—338189149
Money market funds4,814—4,8144,814—
Time deposits(1)
662—662662—
Subtotal 14,053—14,05313,556497
U.S. Gov't Securities$8,562—8,5628,259303
U.S. Gov't Agencies71(1)70—70
Other Sovereign Securities5—514
Corporate and other debt securities23723743194
Subtotal available for sale(2)
$8,875(1)8,8748,303571
Total cash, cash equivalents and current marketable securities
$21,8591,068
(1)Held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings.
(2)Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.
Fair value of government securities and obligations and corporate debt securities were estimated using quoted broker prices and significant other observable inputs.
The contractual maturities of the available for sale debt securities at December 29, 2024 are as follows:
(Dollars in Millions)Cost BasisFair Value
Due within one year$7,2047,205
Due after one year through five years1111
Due after five years through ten years——
Total debt securities$7,2157,216
The Company invests its excess cash in both deposits with major banks throughout the world and other high-quality money market instruments. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating.
v3.25.0.1
Inventories
 12 Months Ended
Dec. 29, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
At the end of fiscal years 2024 and 2023, inventories comprised:
(Dollars in Millions)20242023
Raw materials and supplies$2,3372,355
Goods in process2,8151,952
Finished goods7,2926,874
Total inventories$12,44411,181
v3.25.0.1
Property, plant and equipment
 12 Months Ended
Dec. 29, 2024
Property, Plant and Equipment [Abstract]  
Property, plant and equipment Property, plant and equipment
At the end of fiscal years 2024 and 2023, property, plant and equipment at cost and accumulated depreciation were:
(Dollars in Millions)20242023
Land and land improvements$718795
Buildings and building equipment12,31712,375
Machinery and equipment29,44428,979
Construction in progress6,2895,627
Total property, plant and equipment, gross$48,76847,776
Less accumulated depreciation28,25027,878
Total property, plant and equipment, net$20,51819,898
The Company capitalizes interest expense as part of the cost of construction of facilities and equipment. Interest expense capitalized in fiscal years 2024, 2023 and 2022 was $79 million, $70 million and $49 million, respectively.
Depreciation expense, including the amortization of capitalized interest in fiscal years 2024, 2023 and 2022 was $2.8 billion, $2.6 billion and $2.4 billion, respectively.
Upon retirement or other disposal of property, plant and equipment, the costs and related amounts of accumulated depreciation or amortization are eliminated from the asset and accumulated depreciation accounts, respectively. The difference, if any, between the net asset value and the proceeds are recorded in earnings.
v3.25.0.1
Intangible assets and goodwill
 12 Months Ended
Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets and goodwill Intangible assets and goodwill
At the end of fiscal years 2024 and 2023, the gross and net amounts of intangible assets were:
(Dollars in Millions)20242023
Intangible assets with definite lives:  
Patents and trademarks — gross(1)
$44,69540,417
Less accumulated amortization(26,124)(24,808)
Patents and trademarks — net$18,57115,609
Customer relationships and other intangibles — gross$20,31020,322
Less accumulated amortization(13,544)(12,685)
Customer relationships and other intangibles — net(2)
$6,7667,637
Intangible assets with indefinite lives:  
Trademarks(1)
— 1,714
Purchased in-process research and development12,2819,215
Total intangible assets with indefinite lives$12,28110,929
Total intangible assets — net$37,61834,175
(1)In September 2024, the Company announced changes to its MedTech brand identity and the $1.7 billion of trademarks associated with the DePuy Synthes business were reclassified from indefinite lived to definite lived and will be amortized over a 25 year period.
(2)The majority is comprised of customer relationships
Goodwill as of December 29, 2024 and December 31, 2023, as allocated by segment of business, was as follows:
(Dollars in Millions)Innovative
Medicine		MedTechTotal
Goodwill at January 1, 2023$10,18425,86336,047
Goodwill, related to acquisitions———
Goodwill, related to divestitures———
Currency translation/other223288*511
Goodwill at December 31, 202310,40726,15136,558
Goodwill, related to acquisitions6407,5698,209
Goodwill, related to divestitures—(56)(56)
Currency translation/other(355)(156)(511)
Goodwill at December 29, 2024$10,69233,50844,200
*    Includes purchase price allocation adjustments for Abiomed
The weighted average amortization period for patents and trademarks is approximately 12 years. The weighted average amortization period for customer relationships and other intangible assets is approximately 18 years. The amortization expense of amortizable assets included in Cost of products sold was $4.5 billion, $4.5 billion and $3.9 billion before tax, for the fiscal years ended December 29, 2024, December 31, 2023 and January 1, 2023, respectively. Intangible asset write-downs are included in Other (income) expense, net.
The estimated amortization expense related to intangible assets for approved products, before tax, for the five succeeding years is approximately:
(Dollars in Millions)
20252026202720282029
$4,0003,4002,8002,2002,200
See Note 18 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.
v3.25.0.1
Fair value measurements
 12 Months Ended
Dec. 29, 2024
Fair Value Disclosures [Abstract]  
Fair value measurements Fair value measurements
The Company uses forward foreign exchange contracts to manage its exposure to the variability of cash flows, primarily related to the foreign exchange rate changes of future intercompany products and third-party purchases of materials denominated in a foreign currency. The Company uses cross currency interest rate swaps to manage currency risk primarily related to borrowings. Both types of derivatives are designated as cash flow hedges.
Additionally, the Company uses interest rate swaps as an instrument to manage interest rate risk related to fixed rate borrowings. These derivatives are designated as fair value hedges. The Company uses cross currency interest rate swaps and forward foreign exchange contracts designated as net investment hedges. Additionally, the Company uses forward foreign exchange contracts to offset its exposure to certain foreign currency assets and liabilities. These forward foreign exchange contracts are not designated as hedges and therefore, changes in the fair values of these derivatives are recognized in earnings, thereby offsetting the current earnings effect of the related foreign currency assets and liabilities.
The Company does not enter into derivative financial instruments for trading or speculative purposes, or that contain credit risk related contingent features. The Company maintains credit support agreements (CSA) with certain derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. As of December 29, 2024 and December 31, 2023, the total amount of cash collateral paid by the Company under the CSA amounted to $2.2 billion and $4.0 billion net respectively, related to net investment and cash flow hedges. On an ongoing basis, the Company monitors counter-party credit ratings. The Company considers credit non-performance risk to be low, because the Company primarily enters into agreements with commercial institutions that have at least an investment grade credit rating. Refer to the table on significant financial assets and liabilities measured at fair value contained in this footnote for receivables and payables with these commercial institutions. As of December 29, 2024, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $45.1 billion, $40.5 billion and $9.0 billion, respectively. As of December 31, 2023, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $42.9 billion, $39.7 billion and $10.0 billion, respectively.
All derivative instruments are recorded on the balance sheet at fair value. Changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income, depending on whether the derivative is designated as part of a hedge transaction, and if so, the type of hedge transaction. Cash exchanged for derivatives is primarily in cash flows from operating activities.
The designation as a cash flow hedge is made at the entrance date of the derivative contract. At inception, all derivatives are expected to be highly effective. Foreign exchange contracts designated as cash flow hedges are accounted for under the forward method and all gains/losses associated with these contracts will be recognized in the income statement when the hedged item impacts earnings. Changes in the fair value of these derivatives are recorded in accumulated other comprehensive income until the underlying transaction affects earnings, and are then reclassified to earnings in the same account as the hedged transaction.
Gains and losses associated with interest rate swaps and changes in fair value of hedged debt attributable to changes in interest rates are recorded to interest expense in the period in which they occur. Gains and losses on net investment hedges are accounted through the currency translation account within accumulated other comprehensive income. The portion excluded from effectiveness testing is recorded through interest (income) expense using the spot method. On an ongoing basis, the Company assesses whether each derivative continues to be highly effective in offsetting changes of hedged items. If and when a derivative is no longer expected to be highly effective, hedge accounting is discontinued.
The Company designated its Euro denominated notes with due dates ranging from 2024 to 2044 as a net investment hedge of the Company's investments in certain of its international subsidiaries that use the Euro as their functional currency in order to reduce the volatility caused by changes in exchange rates.
As of December 29, 2024, the balance of deferred net loss on derivatives included in accumulated other comprehensive income was $1.7 billion after-tax. For additional information, see the Consolidated Statements of Comprehensive Income and Note 13. The Company expects that substantially all of the amounts related to forward foreign exchange contracts will be reclassified into earnings over the next 12 months as a result of transactions that are expected to occur over that period. The maximum length of time over which the Company is hedging transaction exposure is 18 months, excluding interest rate contracts and net investment hedges. The amount ultimately realized in earnings may differ as foreign exchange rates change. Realized gains and losses are ultimately determined by actual exchange rates at maturity of the derivative.
The following table is a summary of the activity related to derivatives and hedges for the fiscal years ended December 29, 2024 and December 31, 2023, net of tax:
December 29, 2024December 31, 2023
(Dollars in Millions)SalesCost of
Products
 Sold		R&D
 Expense		Interest
(Income)
 Expense		Other
(Income)
Expense		SalesCost of
Products
Sold		R&D
Expense		Interest
(Income)
Expense		Other
(Income)
Expense
The effects of fair value, net investment and cash flow hedging:
Gain (Loss) on fair value hedging relationship:
Interest rate swaps contracts:
Hedged items$———64————168—
Derivatives designated as hedging instruments———(64)————(168)—
Gain (Loss) on net investment hedging relationship:
Cross currency interest rate swaps contracts:
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing$———148————130—
Amount of gain or (loss) recognized in AOCI———148————130—
Gain (Loss) on cash flow hedging relationship:
Forward foreign exchange contracts:
Amount of gain or (loss) reclassified from AOCI into income242633—67186(37)—8
Amount of gain or (loss) recognized in AOCI(7)(156)80—2110447(18)—9
Cross currency interest rate swaps contracts:
Amount of gain or (loss) reclassified from AOCI into income———247————275—
Amount of gain or (loss) recognized in AOCI$———(597)————(156)—
As of December 29, 2024 and December 31, 2023, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges:
Line item in the Consolidated Balance Sheet
in which the hedged item is included		Carrying Amount of the Hedged LiabilityCumulative Amount of Fair Value Hedging
Adjustment Included in the Carrying
Amount of the Hedged Liability
(Dollars in Millions)December 29, 2024December 31, 2023December 29, 2024December 31, 2023
Long-term Debt$7,935$8,862$(1,132)$(1,216)
The following table is the effect of derivatives not designated as hedging instrument for the fiscal years ended
December 29, 2024 and December 31, 2023:
(Dollars in Millions)Location of Gain /(Loss)
Recognized in Income on
Derivative		Gain/(Loss)
Recognized In
Income on Derivative
Derivatives Not Designated as Hedging InstrumentsDecember 29, 2024December 31, 2023
Foreign Exchange ContractsOther (income) expense$8(60)
The following table is the effect of net investment hedges for the fiscal years ended December 29, 2024 and
December 31, 2023:
Gain/(Loss)
Recognized In
Accumulated OCI		Location of Gain or
(Loss) Reclassified
from Accumulated Other Comprehensive Income Into Income		Gain/(Loss)
Reclassified from
Accumulated OCI
Into Income
(Dollars in Millions)December 29, 2024December 31, 2023December 29, 2024December 31, 2023
Debt$282(131)Interest (income) expense——
Cross Currency interest rate swaps$955642Interest (income) expense——
The Company holds equity investments with readily determinable fair values and equity investments without readily determinable fair values. The Company measures equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.
The following table is a summary of the activity related to equity investments for the fiscal years ended December 29, 2024 and December 31, 2023:
December 31, 2023December 29, 2024
(Dollars in Millions)Carrying Value
Changes in Fair
Value Reflected in
Net Income(1)
Sales/
Purchases/
Other(2)
Carrying ValueNon-Current
Other Assets
Equity Investments with readily determinable value *$4,473(17)(4,005)451451
Equity Investments without readily determinable value$696(197)274773773
January 1, 2023December 31, 2023
(Dollars in Millions)Carrying Value
Changes in Fair
Value Reflected in
Net Income(1)
Sales/
Purchases/
Other(2)
Carrying ValueNon-Current
Other Assets
Equity Investments with readily determinable value *$576(368)4,2654,4734,473
Equity Investments without readily determinable value$613182696696
(1)Recorded in Other Income/Expense
(2)Other includes impact of currency
*    The December 31, 2023 balance includes the 9.5% remaining stake in Kenvue. A debt-for-equity exchange was completed in the fiscal second quarter of 2024.
On May 15, 2024, the Company issued $3.6 billion aggregate principal amount of commercial paper and received $3.6 billion of net cash proceeds to be used for general corporate purposes. On May 17, 2024, the Company completed a Debt-for-Equity Exchange of its remaining 182,329,550 shares of Kenvue Common Stock for the outstanding Commercial Paper. Upon completion of the Debt-for-Equity Exchange, the Commercial Paper was satisfied and discharged, and the Company no longer owns any shares of Kenvue Common Stock. This exchange resulted in a loss of approximately $0.4 billion recorded in Other (income) expense.
For the fiscal years ended December 29, 2024 and December 31, 2023 for equity investments without readily determinable market values, $171 million and $1 million, respectively, of the changes in fair value reflected in net income were the result of impairments. There were impacts of $26 million and $27 million, respectively, of changes in the fair value reflected in net income due to changes in observable prices and gains on the disposal of investments.
Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement determined using assumptions that market participants would use in pricing an asset or liability. In accordance with ASC 820, a three-level hierarchy to prioritize the inputs used in measuring fair value. The levels within the hierarchy are described below with Level 1 having the highest priority and Level 3 having the lowest.
The fair value of a derivative financial instrument (i.e., forward foreign exchange contracts, interest rate contracts) is the aggregation by currency of all future cash flows discounted to its present value at the prevailing market interest rates and subsequently converted to the U.S. Dollar at the current spot foreign exchange rate. The Company does not believe that fair values of these derivative instruments materially differ from the amounts that could be realized upon settlement or maturity, or that the changes in fair value will have a material effect on the Company’s results of operations, cash flows or financial position. The Company also holds equity investments which are classified as Level 1 and debt securities which are classified as Level 2. The Company holds acquisition related contingent liabilities based upon certain regulatory and commercial events, which are classified as Level 3, whose values are determined using discounted cash flow methodologies or similar techniques for which the determination of fair value requires significant judgment or estimations.
The following three levels of inputs are used to measure fair value:
Level 1 — Quoted prices in active markets for identical assets and liabilities.
Level 2 — Significant other observable inputs.
Level 3 — Significant unobservable inputs.
The Company’s significant financial assets and liabilities measured at fair value as of the fiscal year ended December 29, 2024 and December 31, 2023 were as follows:
20242023
(Dollars in Millions)Level 1Level 2Level 3Total
Total(1)
Derivatives designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—660—660539
Interest rate contracts(2)
—1,484—1,484988
Total$—2,144—2,1441,527
Liabilities:     
Forward foreign exchange contracts—794—794624
Interest rate contracts(2)
—3,753—3,7535,338
Total$—4,547—4,5475,962
Derivatives not designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—50—5064
Liabilities:     
Forward foreign exchange contracts—17—1775
Available For Sale Other Investments:
Equity investments(3)
451——4514,473
Debt securities(4)
—7,216—7,2168,874
Other Liabilities
Contingent Consideration(5)
$1,2171,2171,092

Gross to Net Derivative Reconciliation20242023
(Dollars in Millions)
Total Gross Assets$2,1941,591
Credit Support Agreements (CSA)(2,172)(1,575)
Total Net Asset2216
Total Gross Liabilities4,5646,037
Credit Support Agreements (CSA)(4,412)(5,604)
Total Net Liabilities$152433
Summarized information about changes in liabilities for contingent consideration is as follows:
202420232022
(Dollars in Millions)
Beginning Balance$1,0921,120533
Changes in estimated fair value 8829(194)
Additions(6)
112—792
Payments/Other(75)(57)(11)
Ending Balance(5)
$1,2171,0921,120
(1)2023 assets and liabilities are all classified as Level 2 with the exception of equity investments of $4,473 million, which are classified as Level 1 and contingent consideration of $1,092 million, classified as Level 3.
(2)Includes cross currency interest rate swaps and interest rate swaps.
(3)Classified as non-current other assets.
(4)Classified as cash equivalents and current marketable securities.
(5)Includes $1,217 million, $1,092 million and $1,116 million, classified as non-current other liabilities as of December 29, 2024,
December 31, 2023 and January 1, 2023, respectively. Includes $4 million classified as current liabilities as of January 1, 2023.
(6)In fiscal year 2024, the Company recorded $105 million of contingent consideration related to Proteologix. In fiscal year 2022, the Company recorded $704 million of contingent consideration related to Abiomed.
See Notes 2 and 7 for financial assets and liabilities held at carrying amount on the Consolidated Balance Sheet.
v3.25.0.1
Borrowings
 12 Months Ended
Dec. 29, 2024
Debt Disclosure [Abstract]  
Borrowings Borrowings
The components of long-term debt are as follows:
(Dollars in Millions)2024 Effective
Rate
%		 2023 Effective
Rate
%
0.650% Notes due 2024
(750MM Euro 1.1090)(3)
$—— %$831
(3)
0.68 %
5.50% Notes due 2024
(500MM GBP 1.2756)(3)
——  637
(3)
6.75 
2.625% Notes due 2025
7502.63 7502.63 
0.55% Notes due 2025
9990.57 9500.57 
2.46% Notes due 2026
1,9992.47 1,9972.47 
2.95% Notes due 2027
9272.96 9002.96 
0.95% Notes due 2027
1,4580.96 1,4190.96 
1.150% Notes due 2028
(750MM Euro 1.0401)(2)/(750MM Euro 1.1090)(3)
777
(2)
1.21 828
(3)
1.21 
2.90% Notes due 2028
1,4982.91 1,4972.91 
6.95% Notes due 2029
298 7.14  298 7.14 
4.80% Debentures due 2029
1,1464.83 —— 
1.30% Notes due 2030
1,6461.30 1,6301.30 
4.90% Debentures due 2031
1,1454.92 —— 
3.20% Debenture due 2032
(700M EUR 1.0401)(2)
725
(2)
3.21 —— 
4.95% Debentures due 2033
499 4.95  499 4.95 
4.375% Notes due 2033
8544.24 8544.24 
4.95% Debentures due 2034
8464.96 —— 
1.650% Notes due 2035
(1.5B Euro 1.0401)(2)/(1.5B Euro 1.1090)(3)
1,550
(2)
1.68 1,652
(3)
1.68 
3.35% Debentures due 2036
(800MM EUR 1.0401)(2)
827
(2)
3.37 —— 
3.587% Notes due 2036
8693.59 8643.59 
5.95% Notes due 2037
994 5.99  994 5.99 
3.625% Notes due 2037
1,3583.64 1,3573.64 
5.85% Debentures due 2038
697 5.85  697 5.85 
3.40% Notes due 2038
9933.42 9933.42 
4.50% Debentures due 2040
541 4.63  541 4.63 
2.10% Notes due 2040
8452.14 8492.14 
4.85% Notes due 2041
2974.89 2974.89 
4.50% Notes due 2043
4964.52 4964.52 
3.55% Debentures due 2044
(1B EUR 1.0401)(2)
1,030
(2)
3.58 —— 
3.73% Notes due 2046
1,9783.74 1,9773.74 
3.75% Notes due 2047
8223.76 8323.76 
3.500% Notes due 2048
7443.52 7433.52 
2.250% Notes due 2050
8082.29 8262.29 
5.25% Debentures due 2054
8435.26 —— 
2.450% Notes due 2060
1,0582.49 1,0732.49 
Other83 —  69 — 
Subtotal32,400
(4)
3.36 %
(1)
27,350
(4)
2.98 %
(1)
Less current portion1,749   1,469  
Total long-term debt$30,651   $25,881  
(1)Weighted average effective rate.
(2)Translation rate at December 29, 2024.
(3)Translation rate at December 31, 2023.
(4)The excess of the carrying value over the fair value of debt was $2.0 billion and $1.0 billion at the end of fiscal year 2024 and fiscal year 2023, respectively.
Fair value of the long-term debt was estimated using market prices, which were corroborated by quoted broker prices and significant other observable inputs.
The Company has access to substantial sources of funds at numerous banks worldwide. In June 2024, the Company secured a new 364-day Credit Facility of $10 billion, which expires on June 25, 2025. Interest charged on borrowings under the credit line agreement is based on either the Term SOFR Reference Rate or other applicable market rates as allowed under the terms of the agreement, plus applicable margins. Commitment fees under the agreements are not material.
Throughout fiscal years 2024 and 2023, the Company continued to have access to liquidity through the commercial paper market. Short-term borrowings and the current portion of long-term debt amounted to approximately $6.0 billion and $3.5 billion at the end of fiscal years 2024 and 2023, respectively. The current portion of the long-term debt was $1.7 billion and $1.5 billion in 2024 and 2023, respectively, and the remainder is commercial paper and local borrowing by international subsidiaries.
The current debt balance as of December 29, 2024 includes $4.1 billion of commercial paper which has a weighted average interest rate of 4.46% and a weighted average maturity of approximately two months. The current debt balance as of December 31, 2023 includes $2.0 billion of commercial paper which has a weighted average interest rate of 5.37% and a weighted average maturity of approximately two months.
Aggregate maturities of long-term debt obligations commencing in 2025 are:
(Dollars in Millions)
20252026202720282029After 2029
$1,7491,9992,3852,2751,44422,548
v3.25.0.1
Income taxes
 12 Months Ended
Dec. 29, 2024
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
The provision for taxes on income on continuing operations consists of:
(Dollars in Millions)202420232022
Currently payable:
U.S. taxes$2,2002,7052,274
International taxes2,6043,0902,295
Total currently payable4,8045,7954,569
Deferred:
U.S. taxes(2,539)(3,440)(1,990)
International taxes356(619)410
Total deferred(2,183)(4,059)(1,580)
Provision for taxes on income$2,6211,7362,989
A comparison of income tax expense at the U.S. statutory rate of 21% in fiscal years 2024, 2023 and 2022, to the Company’s effective tax rate is as follows:
(Dollars in Millions)202420232022
U.S. $(458)(2,033)4,606
International17,14517,09514,753
Earnings before taxes on income:$16,68715,06219,359
Tax rates:
U.S. statutory rate21.0 %21.0 21.0 
International operations(1)
(5.2)(8.1)(5.0)
U.S. tax settlements1.0 (3.0)— 
U.S. taxes on international income(2)
(2.6)(0.3)(1.1)
U.S. state taxes1.5 1.0 0.3 
Tax benefits on share-based compensation(0.6)(0.8)(1.4)
All other0.6 1.7 1.6 
Effective Rate15.7 %11.5 15.4 
(1)International operations reflect the impacts of operations in jurisdictions with statutory tax rates different than the U.S., particularly Ireland, Switzerland, and Belgium, which is a favorable impact on the effective tax rate as compared with the U.S. statutory rate.
(2)Includes the net impact of the GILTI tax, the Foreign-Derived Intangible Income deduction and other foreign income that is taxable under the U.S. tax code as well as related foreign tax credits.
The fiscal year 2024 effective tax rate increased 4.2% as compared to the fiscal year 2023 effective tax rate. The primary drivers of this change are discussed below.
In fiscal year 2024, The Company had more income in higher tax jurisdictions compared to fiscal year 2023, primarily in the U.S. where the Company recorded a charge of approximately $5.1 billion in the fiscal year of 2024 versus approximately $7.0 billion in the fiscal year of 2023, both for the talc matters in the United States. Both charges were recorded at an effective U.S. tax rate of approximately 21% (for further information see Note 19 to the Consolidated Financial Statements).
Additionally in the fiscal year 2024, the effective tax rate was unfavorably impacted by legislative changes that went into effect for Pillar Two in some of the Company's foreign jurisdictions which are reflected in International operations on the Company’s effective tax rate reconciliation. Also in fiscal year 2024, the Company generated incremental U.S. foreign tax credits related to income sourced and taxed outside the United States and is reflected in U.S. taxes on international income on the Company’s effective tax rate reconciliation. In 2024, the Company finalized multi-year transfer pricing agreements with the U.S. Internal Revenue Service (IRS) and certain other foreign jurisdictions. The U.S portion of the agreements were partially offset by the related tax adjustments in the foreign jurisdictions which are reflected in U.S tax settlements and International operations, respectively, on the Company’s effective rate reconciliation.
The fiscal year 2023 effective tax rate decreased 3.9% as compared to the fiscal year 2022 effective tax rate as the Company recorded certain non-recurring favorable tax items in fiscal year 2023 when compared to the prior fiscal year.
In the fiscal fourth quarter of 2023, the Company settled the U.S. Internal Revenue Service audit for tax years 2013 through 2016 which resulted in a favorable impact to the rate of 3.0%. This settlement was partially offset by the Company recording a $0.4 billion decrease in expected U.S. foreign tax credits, an unfavorable effective rate impact of 2.6%, which has been reflected as a current tax expense in U.S. taxes on international income on the Company’s effective tax rate reconciliation.
In the fiscal year 2023, the Company had certain non-recurring impacts as a result of legislative tax elections made in certain international subsidiaries which resulted in a change in the Company’s tax basis in certain assets resulting in deferred tax re-measurements. The net impact of these non-recurring items is a net benefit of 3.4% to the Company’s annual effective tax rate, comprised of the following items:
•approximately $0.3 billion of tax benefit on local deferred tax assets to record the remeasurement of the increased tax basis, this benefit has been reflected as International operations on the Company’s effective tax rate reconciliation. This benefit was offset by approximately $0.1 billion of U.S. deferred tax expense on the GILTI deferred tax liability resulting from the remeasurement of these deferred tax assets. This has been reflected in the “U.S. tax on international income” on the Company’s effective tax rate reconciliation.
•approximately $0.3 billion of U.S. deferred tax benefit on the GILTI deferred tax related to an election made by an international subsidiary resulting in a decrease in local deferred tax assets. This has been reflected in the U.S. taxes on international income on the Company’s effective tax rate reconciliation.
The Company also had lower income in higher tax jurisdictions vs. fiscal year 2022, primarily in the U.S. where the Company recorded an approximately $7.0 billion charge related to talc matters in the United States at an effective tax rate of 21.1% (for further information see Note 19 to the Consolidated Financial Statements).
Temporary differences and carryforwards at the end of fiscal years 2024 and 2023 were as follows:
2024 Deferred Tax2023 Deferred Tax
(Dollars in Millions)AssetLiabilityAssetLiability
Employee related obligations$372586
Stock based compensation717686
Depreciation of property, plant and equipment(833)(902)
Goodwill and intangibles(3,261)(1,252)
R&D capitalized for tax4,3983,595
Reserves & liabilities4,4443,816
Inventory related371359
Operating loss carryforwards2,2982,145
Undistributed foreign earnings1,931(1,492)1,801(1,695)
Global intangible low-taxed income(1,589)(2,731)
Miscellaneous international1,212831
Miscellaneous U.S. 1,083(4)
Total deferred income taxes16,826(7,175)13,819(6,584)
Valuation allowances(1,638)(1,149)
Total deferred income taxes net of valuation allowances15,188(7,175)12,670(6,584)
The Company has wholly-owned international subsidiaries that have cumulative net losses. The Company believes that it is more likely than not that these subsidiaries will generate future taxable income sufficient to partially utilize these deferred tax assets. In certain jurisdictions, valuation allowances have been recorded against deferred tax assets for loss carryforwards that are not more likely than not to be realized. The net operating loss carryforwards for these international subsidiaries that do not have an indefinite carryforward period will begin to expire in 2025 for various amounts.
The following table summarizes the activity related to valuation allowances for continuing operations:
(Dollars in Millions)20242023
Beginning of year$1,149775
Provision451355
Utilization—(116)
Foreign currency translation(46)25
Net acquisitions / (dispositions/liquidations)84110
End of year$1,638$1,149
The following table summarizes the activity related to unrecognized tax benefits for continuing operations:
(Dollars in Millions)202420232022
Beginning of year$2,4853,7163,210
Increases related to current year tax positions176239523
Increases related to prior period tax positions129244143
Decreases related to prior period tax positions(147)(781)(148)
Settlements(583)(880)(1)
Lapse of statute of limitations(40)(53)(11)
End of year$2,0202,4853,716
As of December 29, 2024 the Company had approximately $2.0 billion of unrecognized tax benefits. The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress with a number of tax authorities. With respect to the United States, the Internal Revenue Service (IRS) has completed its audit for the tax years through 2016 and has commenced the audit for tax years 2017 through 2020. The Company recently finalized multi-year transfer pricing agreements with the IRS and certain other foreign jurisdictions in the fiscal fourth quarter of 2024.
In other major jurisdictions where the Company conducts business, the years that remain open to tax audits go back to the year 2013. The Company believes it is possible that some tax audits may be completed over the next twelve months by taxing authorities in some jurisdictions. The Company anticipates a change in uncertain tax positions of approximately $200 million in certain jurisdictions in the next twelve months due to the expected expiration of the statute of limitations. However, generally the Company is not able to provide a reasonably reliable estimate of the timing of any other future tax payments, audit settlements, or changes in uncertain tax positions.
The Company classifies liabilities for unrecognized tax benefits and related interest and penalties as long-term liabilities. Interest expense and penalties related to unrecognized tax benefits are classified as income tax expense. The Company recognized after tax interest expense of $217 million, $99 million and $136 million in fiscal years 2024, 2023 and 2022, respectively. The total amount of accrued interest was $274 million and $264 million in fiscal years 2024 and 2023, respectively.
v3.25.0.1
Employee related obligations
 12 Months Ended
Dec. 29, 2024
Compensation Related Costs [Abstract]  
Employee related obligations Employee related obligations
At the end of fiscal 2024 and fiscal 2023, employee related obligations recorded on the Consolidated Balance Sheets were:
(Dollars in Millions)20242023
Pension benefits$2,9683,129
Postretirement benefits1,9201,963
Postemployment benefits2,9102,527
Deferred compensation4968
Total employee obligations7,8477,687
Less current benefits payable592538
Employee related obligations — non-current$7,2557,149
Prepaid employee related obligations of $6,046 million and $4,992 million for 2024 and 2023, respectively, are included in Other assets on the Consolidated Balance Sheets.
v3.25.0.1
Pensions and other benefit plans
 12 Months Ended
Dec. 29, 2024
Retirement Benefits [Abstract]  
Pensions and other benefit plans Pensions and other benefit plans
The Company sponsors various retirement and pension plans, including defined benefit, defined contribution and termination indemnity plans, which cover most employees worldwide. The Company also provides post-retirement benefits, primarily healthcare, to all eligible U.S. retired employees and their dependents.
Many international employees are covered by government-sponsored programs and the cost to the Company is not significant.
In the U.S., non-union pension benefits for employees hired before January 1, 2015 are primarily based on the employee’s compensation during the last five years before retirement and the number of years of service (the Final Average Pay formula). U.S. pension benefits for employees hired after 2014, are calculated using a different formula based on employee compensation over total years of service (the Retirement Value formula).
In January 2021, the Company announced that, effective on January 1, 2026, all eligible U.S. non-union employees, regardless of hire date, will earn benefits under the Retirement Value formula. This amendment does not affect the benefits accrued under the Final Average Pay formula for service before January 1, 2026.
International subsidiaries have plans under which funds are deposited with trustees, annuities are purchased under group contracts, or reserves are provided.
The Company does not fund retiree healthcare benefits in advance and has the right to modify these plans in the future.
In 2024 and 2023 the Company used December 31, 2024 and December 31, 2023, respectively, as the measurement date for all U.S. and international retirement and other benefit plans.
Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans for 2024, 2023 and 2022 include the following components:
Retirement PlansOther Benefit Plans
(Dollars in Millions)202420232022202420232022
Service cost$9488931,319277264320
Interest cost1,4021,437908209214104
Expected return on plan assets(2,560)(2,716)(2,756)(7)(7)(8)
Amortization of prior service cost (184)(184)(184)(2)(2)(5)
Recognized actuarial losses (gains)174(199)6505323122
Curtailments and settlements(2)931—(5)—
Net periodic benefit cost (credit)$(222)(676)(62)530487533
The service cost component of net periodic benefit cost is presented in the same line items on the Consolidated Statement of Earnings where other employee compensation costs are reported, including Cost of products sold, Research and development expense, Selling, marketing and administrative expenses, and Net earnings from discontinued operations, net of taxes if related to the separation of Kenvue. All other components of net periodic benefit cost are presented as part of Other (income) expense, net on the Consolidated Statement of Earnings, with the exception of certain amounts for curtailments and settlements, which are reported in Net earnings from discontinued operations, net of taxes if related to the separation of Kenvue (as noted above).
Unrecognized gains and losses for the U.S. pension plans are amortized over the average remaining future service for each plan. For plans with no active employees, they are amortized over the average life expectancy. The amortization of gains and losses for the other U.S. benefit plans is determined by using a 10% corridor of the greater of the market value of assets or the accumulated postretirement benefit obligation. Total unamortized gains and losses in excess of the corridor are amortized over the average remaining future service.
Prior service costs/benefits for the U.S. pension plans are amortized over the average remaining future service of plan participants at the time of the plan amendment. Prior service cost/benefit for the other U.S. benefit plans is amortized over the average remaining service to full eligibility age of plan participants at the time of the plan amendment.
The following table represents the weighted-average actuarial assumptions:
Retirement PlansOther Benefit Plans
Worldwide Benefit Plans202420232022202420232022
Net Periodic Benefit Cost
Service cost discount rate4.39 %4.85 2.46 5.09 5.40 2.59 
Interest cost discount rate4.95 %5.25 2.80 5.12 5.43 2.64 
Rate of increase in compensation levels3.70 %3.71 4.02 4.22 4.22 4.21 
Expected long-term rate of return on plan assets7.25 %7.21 7.25 
Benefit Obligation
Discount rate4.95 %4.58 5.01 5.54 5.11 5.42 
Rate of increase in compensation levels3.70 %3.69 4.00 4.22 4.22 4.21 
The Company’s discount rates are determined by considering current yield curves representing high quality, long-term fixed income instruments. The resulting discount rates are consistent with the duration of plan liabilities. The Company's methodology in determining service and interest cost uses duration specific spot rates along that yield curve to the plans' liability cash flows.
The expected rates of return on plan asset assumptions represent the Company's assessment of long-term returns on diversified investment portfolios globally. The assessment is determined using projections from external financial sources, long-term historical averages, actual returns by asset class and the various asset class allocations by market.
The following table displays the assumed healthcare cost trend rates, for all individuals:
Healthcare Plans20242023
Healthcare cost trend rate assumed for next year9.33 %13.90 %
Rate to which the cost trend rate is assumed to decline (ultimate trend)4.02 %4.00 %
Year the rate reaches the ultimate trend rate2048 2048 
The following table sets forth information related to the benefit obligation and the fair value of plan assets at fiscal year-end 2024 and 2023 for the Company’s defined benefit retirement plans and other post-retirement plans:
Retirement PlansOther Benefit Plans
(Dollars in Millions)2024202320242023
Change in Benefit Obligation
Projected benefit obligation — beginning of year$31,74429,3904,1084,192
Service cost948893277264
Interest cost1,4021,437209214
Plan participant contributions7573——
Amendments—(6)——
Actuarial (gains) losses(1)
(1,245)2,068398469
Divestitures & acquisitions(2)
—(352)—1
Curtailments, settlements & restructuring(121)(238)—(332)
Benefits paid from plan(3)
(1,801)(2,122)(556)(702)
Effect of exchange rates(685)601(11)2
Projected benefit obligation — end of year$30,31731,7444,4254,108
Change in Plan Assets
Plan assets at fair value — beginning of year$33,60731,4968678
Actual return (loss) on plan assets2,1133,9511516
Company contributions229268548694
Plan participant contributions7573——
Settlements(114)(176)——
Divestitures & acquisitions(2)
—(509)——
Benefits paid from plan assets(3)
(1,801)(2,122)(556)(702)
Effect of exchange rates(714)626——
Plan assets at fair value — end of year$33,39533,6079386
Funded status — end of year$3,0781,863(4,332)(4,022)
Amounts Recognized in the Company’s Balance Sheet consist of the following:
Non-current assets$6,0464,992——
Current liabilities(136)(119)(453)(416)
Non-current liabilities(2,832)(3,010)(3,879)(3,606)
Total recognized in the consolidated balance sheet — end of year$3,0781,863(4,332)(4,022)
Amounts Recognized in Accumulated Other Comprehensive Income consist of the following:
Net actuarial loss$3,9034,962691354
Prior service cost (credit)(1,051)(1,236)(4)(6)
Unrecognized net transition obligation———
Total before tax effects$2,8523,726687348
Accumulated Benefit Obligations — end of year$28,88330,139
(1)The actuarial (gains)/losses for retirement plans in 2024 and 2023 were primarily driven by changes in the discount rates.
(2)Driven by the Kenvue separation.
(3)The fiscal years 2024 and 2023 includes approximately $400 million and $800 million, respectively, transferred to a group annuity contract issued by a third-party insurer for the U.S. Salaried Pension Plan.
Retirement PlansOther Benefit Plans
(Dollars in Millions)2024202320242023
Amounts Recognized in Net Periodic Benefit Cost and Other Comprehensive Income
Net periodic benefit cost (credit)$(222)(676)530487
Net actuarial (gain) loss(807)711389136
Amortization of net actuarial loss(172)199(53)(22)
Prior service cost (credit)—(2)——
Amortization of prior service (cost) credit18418522
Effect of exchange rates(79)1031—
Total loss/(income) recognized in other comprehensive income, before tax$(874)1,195339116
Total recognized in net periodic benefit cost and other comprehensive income$(1,096)519869603
The Company plans to continue to fund its U.S. Qualified Plans to comply with the Pension Protection Act of 2006. International Plans are funded in accordance with local regulations. Additional discretionary contributions are made when deemed appropriate to meet the long-term obligations of the plans. For certain plans, funding is not a common practice, as funding provides no economic benefit. Consequently, the Company has several pension plans that are not funded.
In 2024, the Company contributed $122 million and $107 million to its U.S. and international pension plans, respectively.
The following table displays the funded status of the Company's U.S. Qualified & Non-Qualified pension plans and international funded and unfunded pension plans at December 31, 2024 and December 31, 2023, respectively:
U.S. PlansInternational Plans
Qualified PlansNon-Qualified PlansFunded PlansUnfunded Plans
(Dollars in Millions)20242023202420232024202320242023
Plan Assets$22,25022,298——11,14511,309——
Projected Benefit Obligation18,14619,1521,9902,03710,06910,431112124
Accumulated Benefit Obligation17,72618,5571,9491,9829,1159,49893102
Over (Under) Funded Status
Projected Benefit Obligation$4,1043,146(1,990)(2,037)1,076878(112)(124)
Accumulated Benefit Obligation4,5243,741(1,949)(1,982)2,0301,811(93)(102)
Plans with accumulated benefit obligations in excess of plan assets have an accumulated benefit obligation, projected benefit obligation and plan assets of $5.8 billion, $6.1 billion and $3.2 billion, respectively, at the end of 2024, and $5.8 billion, $6.1 billion and $3.1 billion, respectively, at the end of 2023.
The following table displays the projected future benefit payments from the Company’s retirement and other benefit plans:
(Dollars in Millions)202520262027202820292030-2034
Projected future benefit payments
Retirement plans$1,4801,5031,6041,7021,79710,401
Other benefit plans $4644784324454622,537
The following table displays the projected future minimum contributions to the unfunded retirement plans. These amounts do not include any discretionary contributions that the Company may elect to make in the future.
(Dollars in Millions)202520262027202820292030-2034
Projected future contributions$133135140145150815
Each pension plan is overseen by a local committee or board that is responsible for the overall administration and investment of the pension plans. In determining investment policies, strategies and goals, each committee or board considers factors including, local pension rules and regulations; local tax regulations; availability of investment vehicles (separate accounts, commingled accounts, insurance funds, etc.); funded status of the plans; ratio of actives to retirees; duration of liabilities; and other relevant factors including: diversification, liquidity of local markets and liquidity of base currency. A majority of the Company’s pension funds are open to new entrants and are expected to be on-going plans. Permitted investments are primarily liquid and/or listed, with little reliance on illiquid and non-traditional investments such as hedge funds.
The Company’s retirement plan asset allocation at the end of 2024 and 2023 and target allocations for 2025 are as follows:
Percent of
Plan Assets		Target
Allocation
Worldwide Retirement Plans202420232025
Equity securities55 %58 %54 %
Debt securities45 42 46 
Total plan assets100 %100 %100 %
Determination of fair value of plan assets
The Plan has an established and well-documented process for determining fair values. Fair value is based upon quoted market prices, where available. If listed prices or quotes are not available, fair value is based upon models that primarily use, as inputs, market-based or independently sourced market parameters, including yield curves, interest rates, volatilities, equity or debt prices, foreign exchange rates and credit curves.
While the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.
Valuation hierarchy
The authoritative literature establishes a three-level hierarchy to prioritize the inputs used in measuring fair value. The levels within the hierarchy are described in the table below with Level 1 having the highest priority and Level 3 having the lowest.
The Net Asset Value (NAV) is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Following is a description of the valuation methodologies used for the investments measured at fair value.
•Short-term investment funds — Cash and quoted short-term instruments are valued at the closing price or the amount held on deposit by the custodian bank. Other investments are through investment vehicles valued using the NAV provided by the administrator of the fund. The NAV is a quoted price in a market that is not active and classified as Level 2.
•Government and agency securities — A limited number of these investments are valued at the closing price reported on the major market on which the individual securities are traded. Where quoted prices are available in an active market, the investments are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. When quoted market prices for a security are not available in an active market, they are classified as Level 2.
•Debt instruments — A limited number of these investments are valued at the closing price reported on the major market on which the individual securities are traded. Where quoted prices are available in an active market, the investments are classified as Level 1. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and are classified as Level 2. Level 3 debt instruments are priced based on unobservable inputs.
•Equity securities — Equity securities are valued at the closing price reported on the major market on which the individual securities are traded. Substantially all equity securities are classified within Level 1 of the valuation hierarchy.
•Commingled funds — These investment vehicles are valued using the NAV provided by the fund administrator. Assets in the Level 2 category have a quoted market price.
•Other assets — Other assets are represented primarily by limited partnerships. These investment vehicles are valued using the NAV provided by the fund administrator. Other assets that are exchange listed and actively traded are classified as Level 1, while inactively traded assets are classified as Level 2.
The following table sets forth the Retirement Plans' investments measured at fair value as of December 31, 2024 and December 31, 2023:
Quoted Prices
in Active
Markets for
Identical Assets		Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs(1)
Investments
Measured at Net
Asset Value
(Level 1)(Level 2)(Level 3)Total Assets
(Dollars in Millions)2024202320242023202420232024202320242023
Short-term investment funds$— 12511829————511841
Government and agency securities——7,8855,985————7,8855,985
Debt instruments——2,3213,899————2,3213,899
Equity securities7,1447,764——————7,1447,764
Commingled funds——5,0044,96737436,1906,67211,23111,682
Other assets——8849128924,0873,2954,3033,436
Investments at fair value$7,144 7,77615,80915,72916513510,2779,96733,39533,607
(1)The activity for the Level 3 assets is not significant for all years presented.
The Company's Other Benefit Plans are unfunded except for U.S. commingled funds (Level 2) of $93 million and $86 million at December 31, 2024 and December 31, 2023, respectively.
The fair value of Johnson & Johnson Common Stock directly held in plan assets was $13 million at December 31, 2024 and $14 million at December 31, 2023.
v3.25.0.1
Savings plan
 12 Months Ended
Dec. 29, 2024
Savings Plan [Abstract]  
Savings plan Savings plan
The Company has voluntary 401(k) savings plans designed to enhance the existing retirement programs covering eligible employees. The Company matches a percentage of each employee’s contributions consistent with the provisions of the plan for which the employee is eligible. Total Company matching contributions to the plans were $282 million, $263 million and $257 million in fiscal years 2024, 2023 and 2022, respectively.
v3.25.0.1
Capital and treasury stock
 12 Months Ended
Dec. 29, 2024
Equity [Abstract]  
Capital and treasury stock Capital and treasury stock
Changes in treasury stock were:
Treasury Stock
(Amounts in Millions Except Treasury Stock Shares in Thousands)SharesAmount
Balance at January 2, 2022490,878$39,099
Employee compensation and stock option plans(20,007)(3,440)
Repurchase of common stock35,3756,035
Balance at January 1, 2023506,24641,694
Employee compensation and stock option plans(15,521)(2,529)
Repurchase of common stock31,0855,079
Kenvue share exchange (Note 21)190,955 31,418
Balance at December 31, 2023712,76575,662
Employee compensation and stock option plans(15,027)(2,389)
Repurchase of common stock15,1832,407
Balance at December 29, 2024712,921$75,680
Aggregate shares of common stock issued were approximately 3,119,843,000 shares at the end of fiscal years 2024, 2023 and 2022.
Cash dividends paid were $4.91 per share in fiscal year 2024, compared with dividends of $4.70 per share in fiscal year 2023, and $4.45 per share in fiscal year 2022.
On January 2, 2025, the Board of Directors declared a regular cash dividend of $1.24 per share, payable on March 4, 2025 to shareholders of record as of February 18, 2025.
On September 14, 2022, the Company announced that its Board of Directors approved a share repurchase program, authorizing the Company to purchase up to $5.0 billion of the Company's shares of common stock. The repurchase program was completed during the fiscal first quarter of 2023.
v3.25.0.1
Accumulated other comprehensive income (loss)
 12 Months Ended
Dec. 29, 2024
Equity [Abstract]  
Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss)
Components of other comprehensive income (loss) consist of the following:
(Dollars in Millions)Foreign
Currency
Translation		Gain/
(Loss) On
Securities		Employee
Benefit Plans		Gain/
(Loss) On
Derivatives
& Hedges		Total
Accumulated
Other
Comprehensive
Income (Loss)
January 2, 2022$(10,017)(3)(2,702)(336)(13,058)
Net 2022 changes(1,796)(24)1,80510691
January 1, 2023(11,813)(27)(897)(230)(12,967)
Net 2023 changes(3,221)26(1,399)(147)(4,741)
Kenvue Separation/IPO4,885—296*—5,181
December 31, 2023(10,149)(1)(2,000)(377)(12,527)
Net 2024 changes1,7082449(1,373)786
December 29, 2024$(8,441)1(1,551)(1,750)(11,741)
Amounts in accumulated other comprehensive income are presented net of the related tax impact. Foreign currency translation is not adjusted for income taxes where it relates to permanent investments in international subsidiaries. For additional details on comprehensive income see the Consolidated Statements of Comprehensive Income.
Details on reclassifications out of Accumulated Other Comprehensive Income:
Gain/(Loss) On Securities - reclassifications released to Other (income) expense, net.
Employee Benefit Plans - reclassifications are included in net periodic benefit cost. See Note 10 for additional details.
Gain/(Loss) On Derivatives & Hedges - reclassifications to earnings are recorded in the same account as the hedged transaction. See Note 6 for additional details.
*    Includes impact of curtailments and settlements in connection with separation from Kenvue.
v3.25.0.1
International currency translation
 12 Months Ended
Dec. 29, 2024
Foreign Currency Translation [Abstract]  
International currency translation International currency translation
For translation of its subsidiaries operating in non-U.S. Dollar currencies, the Company has determined that the local currencies of its international subsidiaries are the functional currencies except those in highly inflationary economies, which are defined as those which have had compound cumulative rates of inflation of 100% or more during the past three years, or where a substantial portion of its cash flows are not in the local currency. For the majority of the Company's subsidiaries the local currency is the functional currency.
In consolidating international subsidiaries, balance sheet currency effects are recorded as a component of accumulated other comprehensive income. The other current and non-current assets line within the Statement of Cash flows includes the impact of foreign currency translation. This equity account includes the results of translating certain balance sheet assets and liabilities at current exchange rates and some accounts at historical rates, except for those located in highly inflationary economies (Argentina, Turkey and Venezuela). Beginning in the fiscal fourth quarter of 2024, the Company also accounted for operations in Egypt as highly inflationary. The translation of balance sheet accounts for highly inflationary economies are reflected in the operating results.
A rollforward of the changes during fiscal years 2024, 2023 and 2022 for foreign currency translation adjustments is included in Note 13.
Net currency transaction gains and losses included in Other (income) expense were losses of $214 million, $366 million and $286 million in fiscal years 2024, 2023 and 2022, respectively.
v3.25.0.1
Earnings per share
 12 Months Ended
Dec. 29, 2024
Earnings Per Share [Abstract]  
Earnings per share Earnings per share
The following is a reconciliation of basic net earnings per share to diluted net earnings per share for the fiscal years ended December 29, 2024, December 31, 2023 and January 1, 2023:
(In Millions Except Per Share Amounts)202420232022
Basic net earnings per share from continuing operations$5.84 5.266.23
Basic net earnings per share from discontinued operations— 8.620.60
Total net earnings per share - basic5.8413.886.83
Average shares outstanding — basic2,407.32,533.52,625.2
Potential shares exercisable under stock option plans77.794.1140.1
Less: shares repurchased under treasury stock method(55.6)(67.2)(101.4)
Adjusted average shares outstanding — diluted2,429.42,560.42,663.9
Diluted net earnings per share from continuing operations5.79 5.206.14
Diluted net earnings per share from discontinuing operations— 8.520.59
Total net earnings per share - diluted$5.79 13.726.73
(Shares in Millions)
The diluted net earnings per share calculation excluded the following number of shares related to stock options, as the exercise price of these options was greater than the average market value of the Company’s stock. 54.1 43.0 0.0
v3.25.0.1
Common stock, stock option plans and stock compensation agreements
 12 Months Ended
Dec. 29, 2024
Share-Based Payment Arrangement [Abstract]  
Common stock, stock option plans and stock compensation agreements Common stock, stock option plans and stock compensation agreements
At December 29, 2024, the Company had one active stock-based compensation plan, the 2022 Long-Term Incentive Plan. The shares outstanding are for contracts under the Company's 2012 Long-Term Incentive Plan and 2022 Long-Term Incentive Plan. The 2012 Long-Term Incentive Plan expired on April 26, 2022. All awards (stock options, restricted shares units and performance share units) granted subsequent to that date were under the 2022 Long-Term Incentive Plan. Under the 2022 Long-Term Incentive Plan, the Company may issue up to 150 million shares of common stock, of which up to 110 million shares of common stock may be issued subject to stock options or stock appreciation rights and up to 40 million shares of common stock may be issued subject to full value awards. Awards will generally be counted on a 1-for-1 basis against the share reserve, provided that if more than 40 million full value awards are granted, each full value award in excess of 40 million will be counted on a 5-for-1 basis against the share reserve. Shares available for future grants under the 2022 Long-Term Incentive Plan were 111 million at the end of fiscal year 2024.
The compensation cost that has been charged against income for these plans was $1,176 million, $1,087 million and $1,028 million for fiscal years 2024, 2023 and 2022, respectively. The total income tax benefit recognized in the income statement for share-based compensation costs was $251 million, $221 million and $177 million for fiscal years 2024, 2023 and 2022, respectively. The Company also recognized additional income tax benefits of $94 million, $126 million and $267 million for fiscal years 2024, 2023 and 2022, respectively, for which options were exercised or restricted shares were vested. The total unrecognized compensation cost was $1,002 million, $907 million and $866 million for fiscal years 2024, 2023 and 2022, respectively. The weighted average period for this cost to be recognized was 1.81 years, 1.80 years and 1.80 years for fiscal years 2024, 2023, and 2022, respectively. Share-based compensation costs capitalized as part of inventory were insignificant in all periods.
The Company settles employee benefit equity issuances with treasury shares. Treasury shares are replenished through market purchases throughout the year for the number of shares used to settle employee benefit equity issuances.
Stock options
Stock options expire 10 years from the date of grant and vest over service periods that range from 6 months to 4 years. Options granted under the 2012 Long-Term Incentive Plan were granted at the average of the high and low prices of the Company’s Common Stock on the New York Stock Exchange on the date of grant. Options granted under the 2022 Long-Term incentive Plan were granted at the closing price of the Company’s Common Stock on the New York Stock Exchange on the date of grant.
The fair value of each option award was estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. For 2024, 2023, and 2022 grants, expected volatility represents a blended rate of 10-year weekly historical overall volatility rate, and a 5-week average implied volatility rate based on at-the-money traded Johnson & Johnson options with a life of 2 years. For all grants, historical data is used to determine the expected life of the option. The risk-free rate was based on the U.S. Treasury yield curve in effect at the time of grant.
The average fair value of options granted was $27.67, $27.85 and $23.23, in fiscal years 2024, 2023 and 2022, respectively. The fair value was estimated based on the weighted average assumptions of:
202420232022
Risk-free rate4.15 %3.74 %1.98 %
Expected volatility17.85 %17.69 %18.00 %
Expected life (in years)7.07.07.0
Expected dividend yield3.10 %2.90 %2.70 %
A summary of option activity under the Plan as of December 29, 2024, is presented below:
(Shares in Thousands)Outstanding
Shares		Weighted
Average Exercise
Price		Aggregate
Intrinsic
Value
(Dollars in Millions)
Shares at December 31, 2023112,238$139.88$2,239
Options granted13,917157.92
Options exercised(10,771)107.06
Options canceled/forfeited(2,755)162.45
Shares at December 29, 2024112,629$144.69$1,129
The total intrinsic value of options exercised was $560 million, $729 million and $1,228 million in fiscal years 2024, 2023 and 2022, respectively.
The following table summarizes stock options outstanding and exercisable at December 29, 2024:
(Shares in Thousands)OutstandingExercisable
Exercise Price RangeOptions
Average Life(1)
Weighted
Average
Exercise Price		OptionsWeighted
Average
Exercise Price
$100.06 - $101.87
13,0160.8$101.2913,016$101.29
$115.67 - $129.51
18,2522.6122.4918,252122.49
$131.94 - $151.41
25,6244.6142.8725,624142.87
$157.92 - $162.75
26,3918.6160.334,269162.75
$164.62 - $165.89
29,3466.6165.2913,522164.64
 112,6295.3$144.6974,683$135.72
(1)Average contractual life remaining in years.
Stock options outstanding at December 31, 2023 and January 1, 2023 were 112,238 and an average life of 5.5 years and 118,672 and an average life of 5.8 years, respectively. Stock options exercisable at December 31, 2023 and January 1, 2023 were 66,998 at an average price of $123.39 and 63,661 at an average price of $113.06, respectively.
Restricted share units and performance share units
The Company grants restricted share units which vest over service periods that range from 6 months to 3 years. The Company also grants performance share units, which are paid in shares of Johnson & Johnson Common Stock after the end of a three-year performance period. Performance shares were granted with two equally-weighted goals that directly align with or help drive long-term total shareholder return: adjusted operational earnings per share and relative total shareholder return. The number of shares actually earned at the end of the three-year period will vary, based only on actual performance, from 0% to 200% of the target number of performance share units granted.
A summary of the restricted share units and performance share units activity under the Plans as of December 29, 2024 is presented below:
(Shares in Thousands)Outstanding
Restricted Share Units		Outstanding
Performance Share Units
Shares at December 31, 202312,9382,037
Granted6,331906
Issued(5,454)(808)
Canceled/forfeited/adjusted(774)(122)
Shares at December 29, 202413,0412,013
The average fair value of the restricted share units granted was $147.51, $152.63 and $153.67 in fiscal years 2024, 2023 and 2022, respectively, using the fair market value at the date of grant. The fair value of restricted share units was discounted for dividends, which are not paid on the restricted share units during the vesting period. The fair value of restricted share units issued was $833 million, $605 million and $591 million in 2024, 2023 and 2022, respectively.
The weighted average fair value of the performance share units granted was $133.76, $145.17 and $170.46 in fiscal years 2024, 2023 and 2022, calculated using the weighted average fair market value for each of the component goals at the date of grant.
The fair values for the earnings per share goals of each performance share unit were estimated on the date of grant using the fair market value of the shares at the time of the award discounted for dividends, which are not paid on the performance share units during the vesting period. The fair value for the relative total shareholder return goal of each performance share unit was estimated on the date of grant using the Monte Carlo valuation model. The fair value of performance share units issued was $146 million, $140 million and $94 million in fiscal years 2024, 2023 and 2022, respectively.
v3.25.0.1
Segments of business and geographic areas
 12 Months Ended
Dec. 29, 2024
Segment Reporting [Abstract]  
Segments of business and geographic areas Segments of business and geographic areas
Following the separation of the Consumer Health business in the fiscal third quarter of 2023, the Company is now organized into two reportable segments: Innovative Medicine and MedTech. The segment results have been recast for all periods to reflect the continuing operations of the Company.
The Company’s chief operating decision maker (CODM) is the Chief Executive Officer (Principal Executive Officer). For the Innovative Medicine and MedTech segments, the CODM uses segment income before tax to allocate resources (including employees, financial, and capital resources) for each segment predominantly in the annual forecasting process. The CODM considers planning-to-actual variances on a quarterly basis to assess performance and make decisions about allocating resources to the segments.
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
INNOVATIVE MEDICINE
Immunology
U.S.$11,35511,53911,036(1.6)%4.6 
International6,4736,5135,899(0.6)10.4 
Worldwide17,82818,05216,935(1.2)6.6 
REMICADE
U.S.1,0091,1431,417(11.7)(19.3)
U.S. Exports98147204(33.0)(28.0)
International497549722(9.5)(23.9)
Worldwide1,6051,8392,343(12.8)(21.5)
SIMPONI / SIMPONI ARIA
U.S.1,0821,1241,166(3.8)(3.6)
International1,1081,0731,0173.3 5.4 
Worldwide2,1902,1972,184(0.3)0.6 
STELARA
U.S.6,7206,9666,388(3.5)9.0 
International3,6413,8923,335(6.4)16.7 
Worldwide10,36110,8589,723(4.6)11.7 
TREMFYA
U.S.2,4432,1471,84413.7 16.5 
International1,22799982422.8 21.2 
Worldwide3,6703,1472,66816.6 17.9 
OTHER IMMUNOLOGY
U.S.31117(74.1)(33.8)
International000— —
Worldwide31117(74.1)(33.8)
Infectious Diseases
U.S.1,3541,5001,680(9.8)(10.7)
International2,0422,9183,769(30.0)(22.6)
Worldwide3,3964,4185,449(23.1)(18.9)
COVID-19 VACCINE
U.S.00120—*
International1981,1172,059(82.4)(45.8)
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
Worldwide1981,1172,179(82.4)(48.8)
EDURANT / rilpivirine
U.S.313536(10.0)(3.7)
International1,2411,11597211.2 14.8 
Worldwide1,2721,1501,00810.6 14.1 
PREZISTA / PREZCOBIX /
REZOLSTA / SYMTUZA
U.S.1,3111,4461,494(9.4)(3.2)
International401408449(1.7)(9.2)
Worldwide1,7121,8541,943(7.7)(4.6)
OTHER INFECTIOUS DISEASES
U.S.111930(41.0)(34.5)
International203278289(26.7)(3.8)
Worldwide214297318(27.6)(6.7)
Neuroscience
U.S.4,3984,0653,5708.2 13.9 
International2,7183,0763,323(11.6)(7.5)
Worldwide7,1157,1406,893(0.4)3.6 
CONCERTA / methylphenidate
U.S.134230151(41.7)52.5 
International507554493(8.4)12.2 
Worldwide641783644(18.1)21.6 
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
U.S.3,1252,8972,7147.9 6.7 
International1,0971,2181,426(9.9)(14.6)
Worldwide4,2224,1154,1402.6 (0.6)
SPRAVATO
U.S.92958932857.8 79.7 
International1481004648.2 *
Worldwide1,07768937456.4 84.1 
OTHER NEUROSCIENCE
U.S.210349376(39.8)(7.3)
International9651,2041,358(19.8)(11.3)
Worldwide1,1751,5531,734(24.3)(10.4)
Oncology
U.S.10,8548,4626,93028.3 22.1 
International9,9269,1999,0527.9 1.6 
Worldwide20,78117,66115,98317.7 10.5 
CARVYKTI
U.S.86946913385.2*
International9430—**
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
Worldwide96350013392.7*
DARZALEX
U.S.6,5885,2774,21024.8 25.4 
International5,0824,4673,76713.8 18.6 
Worldwide11,6709,7447,97719.8 22.2 
ERLEADA
U.S.1,2821,06596820.3 10.0 
International1,7171,32291329.8 44.8 
Worldwide2,9992,3871,88125.6 26.9 
IMBRUVICA
U.S.1,0201,0511,390(3.0)(24.4)
International2,0182,2142,394(8.8)(7.5)
Worldwide3,0383,2643,784(6.9)(13.7)
TECVAYLI
U.S.4183341225.3 *
International131613**
Worldwide5493951538.8 *
ZYTIGA /abiraterone acetate
U.S.345074(32.2)(32.1)
International5978371,696(28.6)(50.7)
Worldwide6318871,770(28.8)(49.9)
OTHER ONCOLOGY
U.S.643215144*49.3 
International2882692807.1 (3.9)
Worldwide93148442392.5 14.4 
Pulmonary Hypertension
U.S.3,1432,6972,34616.5 15.0 
International1,1401,1171,0712.0 4.3 
Worldwide4,2823,8153,41712.3 11.6 
OPSUMIT
U.S.1,5201,2921,13217.7 14.1 
International664681651(2.4)4.6 
Worldwide2,1841,9731,78310.7 10.6 
UPTRAVI
U.S.1,5111,3261,10413.9 20.1 
International30725521820.1 17.3 
Worldwide1,8171,5821,32214.9 19.7 
OTHER PULMONARY HYPERTENSION
U.S.1127911041.8 (28.6)
International169182202(6.9)(10.3)
Worldwide2812603137.9 (16.7)
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
Cardiovascular / Metabolism / Other
U.S.2,8662,9063,042(1.4)(4.5)
International696765845(9.1)(9.4)
Worldwide3,5623,6713,887(3.0)(5.5)
XARELTO
U.S.2,3732,3652,4730.3 (4.4)
International———— — 
Worldwide2,3732,3652,4730.3 (4.4)
OTHER
U.S.494541569(8.8)(5.0)
International696765845(9.1)(9.4)
Worldwide1,1891,3061,414(8.9)(7.6)
TOTAL INNOVATIVE MEDICINE
U.S.33,97031,16928,6049.0 9.0 
International22,99423,59023,959(2.5)(1.5)
Worldwide56,96454,75952,5634.0 4.2 
MEDTECH
Cardiovascular (1)
U.S.4,5133,6332,16924.2 67.5 
International3,1942,7172,13117.6 27.5 
Worldwide7,7076,3504,30021.4 47.7 
ELECTROPHYSIOLOGY
U.S.2,7382,4582,03611.4 20.7 
International2,5292,2301,90113.4 17.3 
Worldwide5,2674,6883,93712.3 19.1 
ABIOMED(2)
U.S.1,2131,0663113.7 *
International284240—18.2 *
Worldwide1,4961,3063114.5 *
SHOCKWAVE(3)
U.S.442——**
International122——**
Worldwide564——**
OTHER CARDIOVASCULAR(1)
U.S.12010910210.7 6.7 
International2602472305.3 7.3 
Worldwide3803563326.9 7.1 
Orthopaedics
U.S.5,6895,5255,3213.0 3.8 
International3,4703,4173,2671.5 4.6 
Worldwide9,1588,9428,5872.4 4.1 
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
HIPS
U.S.1,0579969436.2 5.6 
International5815645713.0 (1.2)
Worldwide1,6381,5601,5145.0 3.0 
KNEES
U.S.9228968512.9 5.3 
International62355950811.3 10.2 
Worldwide1,5451,4561,3596.1 7.1 
TRAUMA
U.S.2,0131,9491,8823.3 3.6 
International1,0361,0309890.6 4.1 
Worldwide3,0492,9792,8712.3 3.8 
SPINE, SPORTS & OTHER
U.S.1,6961,6841,6450.7 2.4 
International1,2301,2631,198(2.6)5.4 
Worldwide2,9262,9472,843(0.7)3.7 
Surgery
U.S.4,0034,0313,897(0.7)3.4 
International5,8426,0065,793(2.7)3.7 
Worldwide9,84510,0379,690(1.9)3.6 
ADVANCED
U.S.1,8381,8331,7840.2 2.8 
International2,6502,8372,785(6.6)1.9 
Worldwide4,4884,6714,569(3.9)2.2 
GENERAL
U.S.2,1652,1982,113(1.5)4.0 
International3,1923,1683,0080.8 5.3 
Worldwide5,3585,3665,121(0.2)4.8 
Vision
U.S.2,1282,0861,9902.0 4.8 
International3,0182,9862,8591.1 4.5 
Worldwide5,1465,0724,8491.5 4.6 
CONTACT LENSES / OTHER
U.S.1,6841,6261,5223.6 6.8 
International2,0492,0762,022(1.3)2.7 
Worldwide3,7333,7023,5430.8 4.5 
SURGICAL
U.S.444460468(3.4)(1.8)
International9699108376.5 8.6 
Worldwide1,4131,3701,3063.2 4.9 
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
TOTAL MEDTECH   
U.S.16,33215,27513,3776.9 14.2 
International15,52515,12514,0502.6 7.7 
Worldwide31,85730,40027,4274.8 10.8 
WORLDWIDE   
U.S.50,30246,44441,9818.3 10.6 
International38,51938,71538,009(0.5)1.9 
Worldwide$88,82185,15979,9904.3 %6.5 
*    percentage greater than 100% or not meaningful
(1)Previously referred to as Interventional Solutions
(2)Acquired on December 22, 2022
(3)Acquired on May 31, 2024
Income Before Tax by Segment
(Dollars in Millions)
2024 (3)
2023 (4)
2022 (5)
Innovative
Medicine		MedTechTotalInnovative
Medicine		MedTechTotalInnovative
Medicine		MedTechTotal
Sales to customers$56,96431,85754,75930,40052,56327,427
Cost of products sold14,03613,34513,71512,72214,06610,397
Selling, marketing and administrative 10,90610,8129,84210,4769,7149,537
Research and development expense13,5293,70311,9633,12211,6422,493
Other segment items (1)
(426)257993(589)1,494553
Segment income before tax$18,9193,74022,65918,2464,66922,91515,6474,44720,094
Less: Expense not allocated to segments (2)
5,9727,853735
Worldwide total$16,68715,06219,359
 Identifiable Assets
(Dollars in Millions)20242023
Innovative Medicine$57,07058,324
MedTech84,32274,710
Total141,392133,034
General corporate (6)
38,71234,524
Worldwide total$180,104167,558
Additions to Property,
Plant & Equipment		Depreciation and
Amortization
(Dollars in Millions)202420232022202420232022
Innovative Medicine$1,7101,6531,374$3,7603,8473,687
MedTech2,4432,3722,1203,2372,9432,302
Segments total4,1534,0253,4946,9976,7905,989
Discontinued operations—162303—383641
General corporate271356212342313340
Worldwide total$4,4244,5434,009$7,3397,4866,970
 Sales to Customers
Long-Lived Assets (7)
(Dollars in Millions)20242023202220242023
United States$50,30246,44441,981$70,67054,832
Europe20,21220,41020,66427,26731,616
Western Hemisphere excluding U.S. 4,7144,5494,1081,7281,491
Asia-Pacific, Africa13,59313,75613,2371,4541,500
Segments total88,82185,15979,990101,11989,439
General corporate1,2171,192
Other non long-lived assets77,76876,927
Worldwide total$88,82185,15979,990$180,104167,558
See Note 1 for a description of the segments in which the Company operates.
Export sales are not significant. In fiscal year 2024, the Company utilized three wholesalers distributing products for both segments that represented approximately 20.5%, 15.6% and 12.3% of the total gross revenues. In fiscal year 2023, the Company had three wholesalers distributing products for both segments that represented approximately 18.2%, 15.1% and 14.2% of the total gross revenues. In fiscal year 2022, the Company had three wholesalers distributing products for all three segments that represented approximately 18.9%, 15.0%, and 13.8% of the total gross revenues.
(1)Other segment expenses for each reportable segment include charges related to other income and expenses, restructuring activities and impairment charges related to in-process research and development.
(2)Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal years 2024 and 2023 include charges for talc matters of approximately $5.1 billion and $7 billion, respectively (See Note 19, Legal proceedings, for additional details). The fiscal year 2024 includes a loss of approximately $0.4 billion related to the debt to equity exchange of the Company's remaining shares of Kenvue Common Stock. The fiscal year 2023 includes the unfavorable change in the fair value of the retained stake in Kenvue of approximately $0.4 billion.
(3)Innovative Medicine segment income before tax includes:
•Acquired in-process research & development expense of $1.25 billion to secure the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition)
•Monetization of royalty rights of $0.3 billion
•Litigation expense of $0.3 billion primarily related to Risperdal Gynecomastia
•An intangible asset impairment charge of approximately $0.2 billion associated with the M710 (biosimilar) asset acquired as part of the acquisition of Momenta Pharmaceuticals in 2020.
•A restructuring related charge of $0.1 billion
•One-time COVID-19 Vaccine manufacturing exit related costs of $0.1 billion
•Favorable changes in the fair value of securities of $0.1 billion
MedTech segment income before tax includes:
•Acquisition and integration related costs of $1.0 billion primarily related to the acquisition of Shockwave
•Acquired in-process research and development expense of $0.5 billion from the V-Wave acquisition
•A gain of $0.2 billion related to the Acclarent divestiture
•A Medical Device Regulation charge of $0.2 billion
•A restructuring related charge of $0.2 billion
(4)Innovative Medicine segment income before tax includes:
•One-time COVID-19 Vaccine manufacturing exit related costs of $0.7 billion
•A restructuring related charge of $0.5 billion
•Unfavorable changes in the fair value of securities of $0.4 billion
•Favorable litigation related items of $0.1 billion
•Loss on divestiture of $0.2 billion.
•An intangible asset impairment charge of approximately $0.2 billion related to market dynamics associated with a non-strategic asset (M710) acquired as part of the acquisition of Momenta Pharmaceuticals in 2020.
MedTech segment income before tax includes:
•Acquired in-process research and development expense of $0.4 billion related to the Laminar acquisition in 2023
•A restructuring related charge of $0.3 billion
•Acquisition and integration related costs of $0.2 billion primarily related to the acquisition of Abiomed
•A Medical Device Regulation charge of $0.3 billion
•Income from litigation settlements of $0.1 billion
(5)Innovative Medicine segment income before tax includes:
•One-time COVID-19 Vaccine manufacturing exit related costs of $1.5 billion
•An intangible asset impairment charge of approximately $0.8 billion related to an in-process research and development asset, bermekimab (JnJ-77474462), an investigational drug for the treatment of Atopic Dermatitis (AD) and Hidradenitis Suppurativa (HS) acquired with the acquisition of XBiotech, Inc. in the fiscal year 2020. Additional information regarding efficacy of the AD and HS indications became available which led the Company to the decision to terminate the development of bermekimab for AD and HS
•Litigation expense of $0.1 billion
•Unfavorable changes in the fair value of securities of $0.7 billion
•A restructuring related charge of $0.1 billion
MedTech segment income before tax includes:
•Litigation expense of $0.6 billion primarily for pelvic mesh related costs
•A restructuring related charge of $0.3 billion
•Acquisition and integration related costs of $0.3 billion primarily related to the acquisition of Abiomed
•A Medical Device Regulation charge of $0.3 billion
(6) General corporate includes cash, cash equivalents, marketable securities and other corporate assets.
(7)Long-lived assets include property, plant and equipment, net for fiscal years 2024, and 2023 of $20,518 and $19,898, respectively, and intangible assets and goodwill, net for fiscal years 2024 and 2023 of $81,818 and $70,733, respectively.
v3.25.0.1
Acquisitions and divestitures
 12 Months Ended
Dec. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions and divestitures Acquisitions and divestitures
Subsequent to the fiscal year end 2024, the Company announced it has entered into a definitive agreement to acquire Intra-Cellular Therapies, Inc. (Nasdaq: ITCI), a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, for $132.00 per share in cash for a total equity value of approximately $14.6 billion. The Company expects to fund the transaction through a combination of cash on hand and debt. The closing of the transaction is expected to occur later this year subject to applicable regulatory approvals, approval by Intra-Cellular Therapies’ stockholders and other customary closing conditions for a transaction of this type. The results of operations will be included in the Innovative Medicine segment beginning on the acquisition date.
Business combinations
Acquisitions of a business are accounted for as business combinations applying the acquisition method of accounting. Under this method, the assets acquired and liabilities assumed are recorded at their respective fair values as of the acquisition date in the Company’s consolidated financial statements. The excess of the purchase price over the fair value of the acquired net assets, where applicable, is recorded as goodwill. The results of operations of these acquisitions have been included in the Company’s financial statements from their respective dates of acquisition.
During the fiscal year 2024, certain businesses were acquired for $15.1 billion, net of cash acquired. The fiscal year 2024 acquisitions primarily included; Ambrx Biopharma, Inc., Shockwave Medical Inc., and Proteologix, Inc. The remaining acquisitions were not material.
On June 20, 2024, the Company completed the acquisition of Proteologix, Inc., a privately held biotechnology company focused on bispecific antibodies for immune-mediated diseases, for approximately $0.8 billion net of cash acquired, with potential for an additional milestone payment. The results of operations are included in the Innovative Medicine segment as of the acquisition date. The fair value of the acquisition was allocated to assets acquired of $1.2 billion, primarily non-amortizable intangible assets, inclusive of purchased IPR&D, for $0.9 billion, goodwill for $0.3 billion, and $0.3 billion of liabilities assumed which included $0.1 billion related to a contingent consideration. The preliminary purchase price allocation is subject to any subsequent valuation adjustments within the measurement period. A probability of success factor ranging from 30% to 45% was used in the fair value calculation to reflect inherent regulatory and commercial risk of the IPR&D. The discount rate applied was approximately 16%. The goodwill is primarily attributable to synergies expected to arise from the business acquisition and is not expected to be deductible for tax purposes. Acquisition related costs before tax for the fiscal 2024 were not material.
On May 31, 2024, the Company completed the acquisition of Shockwave Medical Inc. (SWAV)(Shockwave), a leading, first-to-market provider of innovative intravascular lithotripsy (IVL) technology for the treatment of calcified coronary artery disease (CAD) and peripheral artery disease (PAD) in an all-cash merger transaction. The Company acquired all the outstanding shares of Shockwave’s common stock for $335.00 per share through a merger of Shockwave with a subsidiary of the Company. The results of operations were included in the MedTech segment as of the acquisition date.
Details of the fair value amounts recognized for assets acquired and liabilities assumed as of the purchase date and at the end of fiscal year 2024, which includes measurement period adjustments, are included in the table below. As the acquisition occurred in May 2024, the Company is still finalizing the allocation of the purchase price to the individual assets acquired and liabilities assumed. The allocation of the purchase price included in the current period balance sheet is based on the best estimate of management and is preliminary and subject to change.
(Dollars in Billions)May 31, 2024December 29, 2024
Assets acquired:
Cash $1.1$1.1
Goodwill7.57.6
Amortizable intangibles5.35.3
IPR&D0.60.6
Inventory0.50.5
Other assets0.50.4
Total assets acquired$15.5$15.5
Liabilities assumed:
Deferred taxes$1.5$1.5
Notes payable*1.01.0
Accrued liabilities**0.40.4
Total liabilities assumed$2.9$2.9
Net assets acquired$12.6$12.6
Net assets acquired as of May 31, 2024$12.6
Less: Cash acquired1.1
Equity awards settled0.6
Settlement of Note payable*1.0
Total enterprise value as of June 30, 2024$13.1
*    Represents the convertible debt which was subsequently paid in the fiscal second quarter of 2024.
**    Includes $0.2 billion of equity awards
The goodwill is primarily attributable to synergies expected to arise from the business acquisition and is not expected to be deductible for tax purposes. Acquisition related costs before tax for the fiscal 2024 were $0.9 billion of which $0.4 billion was related to the fair value of the inventory step-up and was recorded in Cost of products sold and $0.5 billion primarily related to equity awards and was recorded in Other (income) expense. The amortizable intangible assets were primarily comprised of already in-market CAD and PAD IVL products with the average weighted lives of 14 years. The IPR&D assets were valued for technology programs for unapproved products. The value of the IPR&D was calculated using a probability-adjusted cash flow projection discounted for the risk inherent in such projects with the weighted average probability of success factors of approximately 50%. The discount rate applied was 9.0%.
On March 7, 2024, the Company completed the acquisition of Ambrx Biopharma, Inc., (Ambrx), a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody drug conjugates (ADCs), in an all-cash merger transaction for a total equity value of approximately $2.0 billion, or $1.8 billion net of cash acquired. The Company acquired all of the outstanding shares of Ambrx’s common stock for $28.00 per share through a merger of Ambrx with a subsidiary of the Company. The results of operations were included in the Innovative Medicine segment as of the acquisition date. The fair value of the acquisition was allocated to assets acquired of $2.3 billion, primarily non-amortizable intangible assets, inclusive of purchased IPR&D, for $1.9 billion, goodwill for $0.3 billion and liabilities assumed of $0.5 billion, which includes deferred taxes of $0.4 billion. The preliminary purchase price allocation is subject to any subsequent valuation adjustments within the measurement period. A probability of success factor ranging from 40% to
70% was used in the fair value calculation to reflect inherent regulatory and commercial risk of the IPR&D. The discount rate applied was approximately 17%. The goodwill is primarily attributable to synergies expected to arise from the business acquisition and is not expected to be deductible for tax purposes. Acquisition related costs before tax for the fiscal year 2024 were not material.
During the fiscal year 2023, the Company did not make any acquisitions that qualified as a business combination.
During the fiscal year 2022, certain businesses were acquired for $17.7 billion, net of cash acquired. The fiscal year 2022 acquisitions primarily included Abiomed, Inc. (Abiomed). The remaining acquisitions were not material.
On December 22, 2022, the Company completed the acquisition of Abiomed, a leading, first-to-market provider of cardiovascular medical technology with a first-in-kind portfolio for the treatment of coronary artery disease and heart failure which also has an extensive innovation pipeline of life-saving technologies. The transaction broadens the Company’s position as a growing cardiovascular innovator, advancing the standard of care in heart failure and recovery, one of healthcare’s largest areas of unmet need. The results of operations were included in the MedTech segment as of the date of the acquisition. The acquisition was completed through a tender offer for all outstanding shares. The consideration paid in the acquisition consisted of an upfront payment of $380.00 per share in cash, amounting to $17.1 billion, net of cash acquired, as well as a non-tradeable contingent value right (“CVR”) entitling the holder to receive up to $35.00 per share in cash (which with respect to the CVRs total approximately $1.6 billion in the aggregate) if certain commercial and clinical milestones are achieved. The corresponding enterprise value (without taking into account the CVRs) of approximately $16.5 billion includes cash, cash equivalents and marketable securities acquired.
The milestones of the CVR consist of:
a.$17.50 per share, payable if net sales for Abiomed products exceeds $3.7 billion during Johnson & Johnson’s fiscal second quarter of 2027 through fiscal first quarter of 2028, or if this threshold is not met during this period and is subsequently met during any rolling four quarter period up to the end of Johnson & Johnson’s fiscal first quarter of 2029, $8.75 per share;
b.$7.50 per share payable upon FDA premarket application approval of the use of Impella® products in ST-elevated myocardial infarction (STEMI) patients without cardiogenic shock by January 1, 2028; and
c.$10.00 per share payable upon the first publication of a Class I recommendation for the use of Impella® products in high risk PCI or STEMI with or without cardiogenic shock within four years from their respective clinical endpoint publication dates, but in all cases no later than December 31, 2029.
During the fiscal fourth quarter of 2023, the Company finalized the purchase price allocation. In fiscal 2023, there were purchase price allocation adjustments netting to approximately $0.2 billion with an offsetting increase to goodwill. The fair value of the acquisition was allocated to assets acquired of $20.1 billion (net of $0.3 billion cash acquired), primarily to goodwill for $11.1 billion, amortizable intangible assets for $6.6 billion, IPR&D for $1.1 billion, marketable securities of $0.6 billion and liabilities assumed of $3.0 billion, which includes the fair value of the contingent consideration mentioned above for $0.7 billion and deferred taxes of $2.0 billion. The goodwill is primarily attributable to the commercial acceleration and expansion of the portfolio and is not expected to be deductible for tax purposes. The contingent consideration was recorded in Other Liabilities and adjusted to fair value through the fiscal year end 2024 on the Consolidated Balance Sheet.
The amortizable intangible assets were primarily comprised of already in-market products of the Impella® platform with an average weighted life of 14 years. The IPR&D assets were valued for technology programs for unapproved products. The value of the IPR&D was calculated using probability-adjusted cash flow projections discounted for the risk inherent in such projects. The probability of success factor ranged from 52% to 70%. The discount rate applied was 9.5%.
In the fiscal years 2024, 2023 and 2022, the Company recorded acquisition related costs before tax of approximately $0.3 billion, $0.2 billion and $0.3 billion, which was primarily recorded in Other (income)/expense.
In accordance with U.S. GAAP standards related to business combinations, and goodwill and other intangible assets, supplemental pro forma information for fiscal years 2024, 2023 and 2022 is not provided, as the impact of the aforementioned acquisitions did not have a material effect on the Company’s results of operations.
Asset acquisitions
Acquired In-process research and development (IPR&D) in an asset acquisition is immediately expensed as research and development expense in the Company's consolidated financial statements. Milestone payments incurred prior to regulatory approval are expensed as research and development expense when the milestone event occurs.
The fiscal year 2024 asset acquisitions expensed as research and development included V-Wave Ltd. and the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition). The remaining activity was not material.
On October 8, 2024, the Company completed the acquisition of V-Wave Ltd, a privately-held company focused on developing innovative treatment options for patients with heart failure, for an upfront payment of $0.6 billion, with the potential for additional regulatory and commercial milestone payments up to approximately $1.1 billion. The Company recorded an IPR&D charge of approximately $0.5 billion, net of a gain recorded on the Company's existing investment in V-Wave and the results of operations are included in the MedTech segment as of the acquisition date.
On July 11, 2024, the Company completed the acquisition of Yellow Jersey, a demerged subsidiary of Numab Therapeutics AG, to secure the global rights to NM26, a novel, investigational first-in-class bispecific antibody targeting two clinically proven pathways in atopic dermatitis (AD), in an all-cash transaction for approximately $1.25 billion. The Company recorded an IPR&D charge of approximately $1.25 billion, and the results of operations are included in the Innovative Medicine segment as of the acquisition date.
The fiscal year 2023 asset acquisitions expensed as research and development included Laminar Inc. The remaining activity was not material.
During the fiscal year 2023, the Company completed the acquisition of Laminar Inc., a privately-held medical device company focused on eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib), for an upfront payment of $0.4 billion. The Company recorded an IPR&D charge of approximately $0.4 billion and the results of operations are included in the MedTech segment as of the acquisition date.
There were no significant asset acquisitions in 2022.
Divestitures
During the fiscal year 2024, the Company completed the divestiture of Acclarent resulting in approximately $0.3 billion in proceeds and the divestiture of Ponvory outside of the U.S. resulting in approximately $0.2 billion in proceeds. All other divestitures were not material.
During the fiscal year 2023, the Company executed divestitures resulting in approximately $0.2 billion in proceeds resulting in gains or losses that were not material. At fiscal year end 2023, the Company held assets, primarily intangibles, on its Consolidated Balance Sheet of approximately $0.3 billion, primarily related to Acclarent and Ponvory, that were subsequently divested in fiscal 2024.
During fiscal year 2022, the Company did not make any material divestitures.
v3.25.0.1
Legal proceedings
 12 Months Ended
Dec. 29, 2024
Commitments and Contingencies Disclosure [Abstract]  
Legal proceedings Legal proceedings
Johnson & Johnson and certain of its subsidiaries are involved in various lawsuits and claims regarding product liability; intellectual property; commercial; indemnification and other matters; governmental investigations; and other legal proceedings that arise from time to time in the ordinary course of their business.
The Company records accruals for loss contingencies associated with these legal matters when it is probable that a liability will be incurred, and the amount of the loss can be reasonably estimated. As of December 29, 2024, the Company has determined that the liabilities associated with certain litigation matters are probable and can be reasonably estimated. The Company has accrued for these matters and will continue to monitor each related legal issue and adjust accruals as might be warranted based on new information and further developments in accordance with ASC 450-20-25. For these and other litigation and regulatory matters discussed below for which a loss is probable or reasonably possible, the Company is unable to estimate the possible loss or range of loss beyond the amounts accrued. Amounts accrued for legal contingencies often result from a complex series of judgments about future events and uncertainties that rely heavily on estimates and assumptions including timing of related payments. The ability to make such estimates and judgments can be affected by various factors including, among other things, whether damages sought in the proceedings are unsubstantiated or indeterminate; scientific and legal discovery has not commenced or is not complete; proceedings are in early stages; matters present legal uncertainties; there are significant facts in dispute; procedural or jurisdictional issues; the uncertainty and unpredictability of the number of
potential claims; ability to achieve comprehensive multi-party settlements; complexity of related cross-claims and counterclaims; and/or there are numerous parties involved. To the extent adverse awards, judgments or verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated.
In the Company’s opinion, based on its examination of these matters, its experience to date and discussions with counsel, the ultimate outcome of legal proceedings, net of liabilities accrued in the Company’s balance sheet, is not expected to have a material adverse effect on the Company’s financial position. However, the resolution of, or increase in accruals for, one or more of these matters in any reporting period may have a material adverse effect on the Company’s results of operations and cash flows for that period.
Matters concerning talc
A significant number of personal injury claims alleging that talc causes cancer have been asserted against the Company and its affiliates arising out of the use of body powders containing talc, primarily JOHNSON’S Baby Powder.
In talc cases that have gone to trial, the Company has obtained a number of defense verdicts, but there also have been verdicts against the Company, many of which have been reversed on appeal. In June 2020, the Missouri Court of Appeals reversed in part and affirmed in part a July 2018 verdict of $4.7 billion in Ingham v. Johnson & Johnson, et al., No. ED 207476 (Mo. App.), reducing the overall award to $2.1 billion. An application for transfer of the case to the Missouri Supreme Court was subsequently denied, and in June 2021, a petition for certiorari, seeking a review of the Ingham decision by the United States Supreme Court, was denied. In June 2021, the Company paid the award, which, including interest, totaled approximately $2.5 billion. The facts and circumstances, including the terms of the award, were unique to the Ingham decision and not representative of other claims brought against the Company. The Company continues to believe that it has strong legal grounds to contest the other talc verdicts that it has appealed. Notwithstanding the Company’s confidence in the safety of its talc products, in certain circumstances the Company has settled cases.
In June 2014, the Mississippi Attorney General filed a complaint against the Company alleging violation of the Mississippi Consumer Protection Act by failing to disclose alleged health risks associated with female consumers’ use of talc contained in JOHNSON’S Baby Powder and JOHNSON’S Shower to Shower (a product divested in 2012). The Company has reached an agreement to resolve this matter.
In January 2020, the State of New Mexico filed a consumer protection case alleging that the Company deceptively marketed and sold its talcum powder products by making misrepresentations about the safety of the products and the presence of carcinogens, including asbestos. The Company has reached an agreement to resolve this matter.
Forty-two states and the District of Columbia commenced a joint investigation into the Company’s marketing of its talcum powder products. In January 2024, the Company reached an agreement in principle with the multi-state group of state Attorneys General, subject to ongoing negotiation of non-monetary terms. In June 2024, the settlements were finalized.
In October 2021, Johnson & Johnson Consumer Inc. (Old JJCI) implemented a corporate restructuring (the 2021 Corporate Restructuring). As a result of that restructuring, Old JJCI ceased to exist and three new entities were created: (a) LTL Management LLC, a North Carolina limited liability company (LTL or Debtor); (b) Royalty A&M LLC, a North Carolina limited liability company and a direct subsidiary of LTL (RAM); and (c) the Debtor’s direct parent, Johnson & Johnson Consumer Inc., a New Jersey company (New JJCI). The Debtor received certain of Old JJCI’s assets and became solely responsible for the talc-related liabilities of Old JJCI, including all liabilities related in any way to injury or damage, or alleged injury or damage, sustained or incurred in the purchase or use of, or exposure to, talc, including talc contained in any product, or to the risk of, or responsibility for, any such damage or injury, except for any liabilities for which the exclusive remedy is provided under a workers’ compensation statute or act (the Talc-Related Liabilities).
In October 2021, notwithstanding the Company’s confidence in the safety of its talc products, the Debtor filed a voluntary petition with the United States Bankruptcy Court for the Western District of North Carolina, Charlotte Division, seeking relief under Chapter 11 of the Bankruptcy Code (the LTL Bankruptcy Case). All litigation against LTL, Old JJCI, New JJCI, the Company, other of their corporate affiliates, identified retailers, insurance companies, and certain other parties (the Protected Parties) was stayed. The LTL Bankruptcy Case was transferred to the United States Bankruptcy Court for the District of New Jersey. Claimants filed motions to dismiss the LTL Bankruptcy Case and, following a multiple day hearing, the New Jersey Bankruptcy Court denied those motions in March 2022.
The claimants subsequently filed notices of appeal as to the denial of the motions to dismiss the LTL Bankruptcy Case and the extension of the stay to the Protected Parties. On January 30, 2023, the Third Circuit reversed the Bankruptcy Court’s ruling and remanded to the Bankruptcy Court to dismiss the LTL bankruptcy.
In April 2023, the New Jersey Bankruptcy Court dismissed the LTL Bankruptcy Case, effectively lifting the stay as to all parties and returning the talc litigation to the tort system. LTL re-filed in the United States Bankruptcy Court for the District of New Jersey seeking relief under Chapter 11 of the Bankruptcy Code (the LTL 2 Bankruptcy Case). As a result of the new filing, all talc claims against LTL were again automatically stayed pursuant to section 362 of the Bankruptcy Code. Additionally, the New Jersey Bankruptcy Court issued a temporary restraining order staying all litigation as to LTL, Old JJCI, New JJCI, the Company, identified retailers, and certain other parties (the New Protected Parties).
Also in April 2023, the New Jersey Bankruptcy Court issued a decision that granted limited injunctive relief to the Company and the New Protected Parties (the LTL 2 Preliminary Injunction). The LTL 2 Preliminary Injunction remained in force until late August 2023, following the Bankruptcy Court’s extension of the initial LTL 2 Preliminary Injunction in June 2023. Under the LTL 2 Preliminary Injunction, except for those cases filed in the federal court ovarian cancer multi-district litigation, discovery in all personal injury and wrongful death matters was permitted to proceed.
Furthermore, in April 2023, the Talc Claimants' Committee filed a motion to dismiss the LTL 2 Bankruptcy followed by similar motions from other claimants. Hearings on the motions to dismiss occurred in June 2023. In July 2023, the court dismissed the LTL 2 Bankruptcy case and, the same day, the Company stated its intent to appeal the decision and to continue its efforts to obtain a resolution of the talc claims. In September 2023, the Bankruptcy Court entered an order granting LTL leave to seek a direct appeal to the Third Circuit Court of Appeals. In October 2023, the Third Circuit granted LTL’s petition for a direct appeal. In July 2024, the Third Circuit issued a non-precedential opinion affirming the Bankruptcy Court's decision to dismiss the LTL Bankruptcy case.
In October 2023, the Company stated that it was pursuing the following four parallel and alternative pathways to achieve a comprehensive and final resolution of the talc claims: (i) the appeal of the LTL 2 dismissal decision; (ii) pursuing a consensual “prepackaged” bankruptcy case, as “strongly encouraged” by the Bankruptcy Court in its dismissal decision; (iii) aggressively litigating the talc claims in the tort system; and (iv) pursuing affirmative claims against experts for false and defamatory narratives regarding the Company’s talc powder products. In December 2023, LTL changed its state of formation to Texas and its name to LLT Management LLC ("LLT").
Following the dismissal of LTL 2, new lawsuits were filed, cases across the country that had been stayed were reactivated, and trials have commenced. The majority of the cases are pending in federal court, organized in a multi-district litigation (MDL) in the United States District Court for the District of New Jersey. In the MDL, case-specific discovery proceeded. The MDL proceedings have been stayed by order of the bankruptcy court in the Red River Bankruptcy case discussed below. In March 2024, the court granted the Company's motion for a renewed Daubert hearing prior to the trial. The briefing on the renewed Daubert issues was completed in August 2024.
In May 2024, the Company commenced a three-month solicitation period of its proposed consensual “prepackaged” Chapter 11 bankruptcy plan (the “Proposed Plan”) for the comprehensive and final resolution of all current and future claims related to cosmetic talc in the United States, excluding claims related to mesothelioma or State consumer protection claims, in exchange for the payment by the Company of present value of approximately $6.475 billion payable over 25 years (nominal value of approximately $8.0 billion, discounted at a rate of 4.4%). The claims encompassed by the Proposed Plan constitute 99.75% of pending lawsuits against the Company relating to its talc powder products.
In August 2024, LLT engaged in a restructuring that resulted in the creation of three new Texas limited liability companies: (a) Red River Talc, LLC ("Red River"); (b) Pecos River Talc LLC ("Pecos River"); and (3) New Holdco (Texas) LLC. As a result of this restructuring, all claims related to ovarian and other gynecological cancers were separated and allocated to Red River, and mesothelioma, governmental unit and certain other claims were allocated to Pecos River.
In September 2024, while reiterating the Company's continued confidence in the safety of its talc products, Red River filed a voluntary petition with the United States Bankruptcy Court for the Southern District of Texas, seeking relief under Chapter 11 of the Bankruptcy Code (the Red River Bankruptcy Case), in furtherance of the Company's consensual "prepackaged" Proposed Plan. Red River also filed a motion for a temporary restraining order, seeking to extend the automatic stay to additional non-debtor entities. Prior to filing, the initial proposed plan was amended to, among other things, increase the proposed resolution by $1.75 billion.
Shortly after Red River filed its Chapter 11 petition, the U.S. Trustee's office filed a motion to transfer venue in the New Jersey Bankruptcy Court, and thereafter, a motion to transfer venue and a motion to dismiss in the Texas Bankruptcy Court. A coalition of six plaintiff law firms also filed a motion to transfer venue and a motion to dismiss in the Texas Bankruptcy Court. In September 2024, the Texas Bankruptcy Court entered a temporary order enjoining the commencement or prosecution of all claims against Red River and certain non-debtor entities, including the Company, until October 11, 2024. The temporary order was extended in October 2024 and again in December 2024. The commencement and prosecution of all claims against Red River and certain non-debtor entities are currently enjoined until March 15, 2025. Also in September 2024, the New Jersey Bankruptcy Court denied the U.S. Trustee's motion to transfer venue without prejudice. In October 2024, the Texas Bankruptcy Court denied the motion to transfer venue from Texas to New Jersey Bankruptcy Court. A consolidated hearing to address, among other things, the motions to dismiss and plan confirmation is currently scheduled to begin on February 18, 2025.
Mesothelioma and State consumer protection claims are being addressed outside the Proposed Plan. The Company separately has resolved 95% of the mesothelioma lawsuits filed to date and has resolved the State claims.
To account for these settlements and the contemplated comprehensive resolution through the Proposed Plan, the Company recorded a cumulative incremental charge of approximately $5.0 billion, through the fourth fiscal quarter 2024. As of December 29, 2024, the total present value of the reserve is approximately $11.6 billion (or nominal value of approximately $13.5 billion), net of payments made in fiscal 2024. Approximately ten percent of the reserve is recorded as a current liability. The recorded amount remains the Company's best estimate of probable loss.
In February 2019, the Company’s talc supplier, Imerys Talc America, Inc. and two of its affiliates, Imerys Talc Vermont, Inc. and Imerys Talc Canada, Inc. (collectively, Imerys) filed a voluntary petition for relief under Chapter 11 of the United States Code (the Bankruptcy Code) in the United States Bankruptcy Court for the District of Delaware (Imerys Bankruptcy). The Imerys Bankruptcy relates to Imerys’s potential liability for personal injury from exposure to talcum powder sold by Imerys. In its bankruptcy, Imerys alleges it has claims against the Company for indemnification and rights to joint insurance proceeds. In its bankruptcy, Imerys proposed a Chapter 11 plan (the Imerys Plan) that contemplated all talc-related claims against it being channeled to a trust along with its alleged indemnification rights against the Company. Following confirmation and consummation of the plan, the trust would pay talc claims pursuant to proposed trust distribution procedures (the TDP) and then seek indemnification from the Company.
In February 2021, Cyprus Mines Corporation (Cyprus), which had owned certain Imerys talc mines, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code and filed its Disclosure Statement and Plan (the Cyprus Plan). The Cyprus Plan contemplates a settlement with Imerys and talc claimants where Cyprus would make a monetary contribution to a trust established under the Imerys Plan in exchange for an injunction against talc claims asserted against it and certain affiliated parties. Cyprus also asserts it has claims for indemnity against the Company arising out of talc personal injury claims. Under the Cyprus Plan, Cyprus would also contribute its alleged indemnification rights to the trust.
In September 2023, Imerys and Cyprus filed amended plans of reorganization. The amended plans contemplate a similar construct as the prior Imerys and Cyprus Plans, including all talc claims against Imerys and Cyprus (and certain other protected parties) being channeled to a trust along with Imerys’s and Cyprus’s alleged indemnification rights against the Company. The Company opposed both plans on the basis that the plans inflated Imerys’s and Cyprus’s liability for talc claims and had the potential effect of imposing those inflated liabilities on the Company through the Company’s alleged indemnification obligations.
In July 2024, the Company, Imerys, and Cyprus and certain of their affiliates (including their parent entities), and the tort claimants' committees and future claimants' representatives appointed in their respective Chapter 11 cases entered into a global settlement agreement (the Imerys Settlement Agreement) to resolve their ongoing disputes, including disputes raised in the Imerys and Cyprus bankruptcies. In August 2024, Imerys and Cyprus filed amended Chapter 11 plans and disclosure statements incorporating the terms of the settlement with the Company. In October 2024, the Imerys Bankruptcy Court entered an order approving the Imerys Settlement Agreement (the Settlement Order). The effectiveness of certain provisions of the settlement, including mutual releases, are subject to certain conditions, including the Imerys and Cyprus Plans being accepted by a sufficient number and amount of voting creditors to be confirmed under the Bankruptcy Code. Certain insurers have appealed the Settlement Order and sought a stay of the order pending appeal, which the Court denied on January 13, 2025. The briefing of the appeal in the District Court is scheduled to be completed in April 2025. On January 5, 2025, Imerys and Cyprus each filed a certification of voting results, indicating that their respective plan had been accepted by each voting class of creditors. A joint confirmation hearing for the plans is scheduled for April 2025.
In February 2018, a securities class action lawsuit was filed against the Company and certain named officers in the United States District Court for the District of New Jersey, alleging that the Company violated the federal securities laws by failing to disclose alleged asbestos contamination in body powders containing talc, primarily JOHNSON’S Baby Powder, and that purchasers of the Company’s shares suffered losses as a result. In April 2019, the Company moved to dismiss the complaint. In December 2019, the Court denied, in part, the motion to dismiss. The case was stayed in May 2022 pursuant to the LTL Bankruptcy Case and was reopened in May 2023. In December 2023, the Court granted Plaintiff’s motion for class certification. In January 2024, Defendants filed a petition with the Third Circuit under Federal Rule of Civil Procedure 23(f) for permission to appeal the Court’s order granting class certification, and in February 2024, the Third Circuit granted Defendants' petition. In February 2024, fact discovery closed, the Court ordered the parties to mediate, and stayed the case pending mediation. In May 2024, the parties participated in an unsuccessful mediation. In June 2024, at the parties' request, the Court lifted the stay for certain limited discovery, but otherwise kept the stay in place pending a decision from the Third Circuit on the 23(f) petition. Briefing on the 23(f) petition was completed in September 2024. In January 2025, the Third Circuit listed the appeal for oral argument in March 2025.
Matters concerning opioids
Beginning in 2014 and continuing to the present, the Company and Janssen Pharmaceuticals, Inc. (JPI), along with other pharmaceutical companies, have been named in close to 3,500 lawsuits related to the marketing of opioids, including DURAGESIC, NUCYNTA and NUCYNTA ER. Similar lawsuits have also been filed by private plaintiffs and organizations, including but not limited to the following: individual plaintiffs on behalf of children born with Neonatal Abstinence Syndrome (NAS); hospitals; and health insurers/payors.
To date, the Company and JPI have litigated two of the cases to judgment and have prevailed in both, either at trial or on appeal.
In July 2021, the Company announced finalization of an agreement to settle the state and subdivision claims for up to $5.0 billion. Approximately 70% of the all-in settlement was paid by the end of fiscal fourth quarter 2024. A few government entities opted out of the settlement. In September 2024, the Company reached an agreement to resolve the hospital cases.
The Company and JPI continue to defend the cases brought by the remaining government entity litigants as well as the cases brought by private litigants. In total, there are approximately 35 remaining opioid cases against the Company and JPI in various state courts, 390 remaining cases in the Ohio multi-district litigation (MDL), and 4 additional cases in other federal courts.
In addition, the Province of British Columbia filed suit against the Company and its Canadian affiliate Janssen Inc., and many other industry members, in Canada. That action was certified as an opt in class action on behalf of other provincial/territorial and the federal governments in Canada in January 2025. Additional proposed class actions have been filed in Canada against the Company and Janssen Inc., and many other industry members, by and on behalf of people who used opioids (for personal injuries), municipalities and First Nations bands. The proposed class action in Quebec on behalf of residents diagnosed with opioid use disorder was authorized to proceed against Janssen Inc. and other industry members in April 2024; and leave to appeal was denied in October 2024.
Starting in November 2019, a series of shareholder derivative complaints were filed against the Company as the nominal defendant and certain current and former directors and officers as defendants in the Superior Court of New Jersey. The complaint alleges breaches of fiduciary duties related to the marketing of opioids, and that the Company has suffered damages as a result of those alleged breaches. As of September 2024, all the complaints had been dismissed, and all appeals exhausted.
Product liability
The Company and certain of its subsidiaries are involved in numerous product liability claims and lawsuits involving multiple products. Claimants in these cases seek substantial compensatory and, where available, punitive damages. While the Company believes it has substantial defenses, it is not feasible to predict the ultimate outcome of litigation. From time to time, even if it has substantial defenses, the Company considers isolated settlements based on a variety of circumstances. The Company has accrued for these matters and will continue to monitor each related legal issue and adjust accruals as might be warranted based on new information and further developments in accordance with ASC 450-20-25, Contingencies. The Company accrues an estimate of the legal defense costs needed to defend each matter when those costs are probable and can be reasonably estimated. For certain of these matters, the Company has accrued additional amounts such as estimated costs associated with settlements, damages and other losses. Product liability accruals can represent projected product liability for thousands of claims around the world, each in different litigation environments and with different fact patterns. Changes to the accruals may be required in the future as additional information becomes available.
The table below contains the most significant of these cases and provides the approximate number of plaintiffs in the United States with direct claims in pending lawsuits regarding injuries allegedly due to the relevant product or product category as of December 29, 2024:
Product or product categoryNumber of plaintiffs
Body powders containing talc, primarily JOHNSON’S Baby Powder62,830 
DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System60 
PINNACLE Acetabular Cup System910 
Pelvic meshes5,990 
ETHICON PHYSIOMESH Flexible Composite Mesh130 
RISPERDAL7 
ELMIRON2,170 
The number of pending lawsuits is expected to fluctuate as certain lawsuits are settled or dismissed and additional lawsuits are filed. There may be additional claims that have not yet been filed.
MedTech
DePuy ASR XL Acetabular System and ASR Hip Resurfacing System
In August 2010, DePuy Orthopaedics, Inc. (DePuy) announced a worldwide voluntary recall of its ASR XL Acetabular System and DePuy ASR Hip Resurfacing System (ASR Hip) used in hip replacement surgery. Claims for personal injury have been made against DePuy and the Company. Cases filed in federal courts in the United States have been organized as a multi-district litigation in the United States District Court for the Northern District of Ohio. Litigation has also been filed in countries outside of the United States, primarily in the United Kingdom, Ireland, India and Italy. In November 2013, DePuy reached an agreement with a Court-appointed committee of lawyers representing ASR Hip plaintiffs to establish a program to settle claims with eligible ASR Hip patients in the United States. This settlement program has resolved more than 10,000 claims, thereby bringing to resolution significant ASR Hip litigation activity in the United States. However, lawsuits in the United States remain, and the settlement program does not address litigation outside of the United States. The Company continues to receive information with respect to potential additional costs associated with this recall on a worldwide basis. The Company has established accruals for the costs associated with the United States settlement program and ASR Hip-related product liability litigation.
DePuy PINNACLE Acetabular Cup System
Claims for personal injury have also been made against DePuy Orthopaedics, Inc. and the Company (collectively, DePuy) relating to the PINNACLE Acetabular Cup System used in hip replacement surgery. Product liability lawsuits continue to be filed, and the Company continues to receive information with respect to potential costs and the anticipated number of cases. Most cases filed in federal courts in the United States have been organized as a multi-district litigation in the United States District Court for the Northern District of Texas (Texas MDL). Beginning on June 1, 2022, the Judicial Panel on Multidistrict Litigation ceased transfer of new cases into the Texas MDL, and there are now cases pending in federal court outside the Texas MDL. Litigation also has been filed in state courts and in countries outside of the United States. During the first quarter of 2019, DePuy established a United States settlement program to resolve these cases. As part of the settlement program, adverse verdicts have been settled. The Company has established an accrual for product liability litigation associated with the PINNACLE Acetabular Cup System and the related settlement program.
Ethicon Pelvic Mesh
Claims for personal injury have been made against Ethicon, Inc. (Ethicon) and the Company arising out of Ethicon’s pelvic mesh devices used to treat stress urinary incontinence and pelvic organ prolapse. The Company continues to receive information with respect to potential costs and additional cases. Cases filed in federal courts in the United States had been organized as a multi-district litigation (MDL) in the United States District Court for the Southern District of West Virginia. In March 2021, the MDL Court entered an order closing the MDL. The MDL Court has remanded cases for trial to the jurisdictions where the case was originally filed and additional pelvic mesh lawsuits have been filed, and remain, outside of the MDL. The Company has settled or otherwise resolved the majority of the United States cases and the estimated costs associated with these settlements and the remaining cases are reflected in the Company’s accruals. In addition, class actions and individual personal injury cases or claims seeking damages for alleged injury resulting from Ethicon’s pelvic mesh devices have been commenced in
various countries outside of the United States, including claims and cases in the United Kingdom, the Netherlands, and Ireland, and class actions in Israel, Australia, Canada and South Africa. The vast majority of these actions are now resolved. The Company has established accruals with respect to product liability litigation associated with Ethicon’s pelvic mesh products.
Ethicon Physiomesh
Following a June 2016 worldwide market withdrawal of Ethicon Physiomesh Flexible Composite Mesh (Physiomesh), claims for personal injury have been made against Ethicon, Inc. (Ethicon) and the Company alleging personal injury arising out of the use of this hernia mesh device. Cases filed in federal courts in the United States have been organized as a multi-district litigation (MDL) in the United States District Court for the Northern District of Georgia. A multi-county litigation (MCL) also has been formed in New Jersey state court and assigned to Atlantic County for cases pending in New Jersey. In addition to the matters in the MDL and MCL, there are additional lawsuits pending in the United States District Court for the Southern District of Ohio, which are part of the MDL for polypropylene mesh devices manufactured by C.R. Bard, Inc., and lawsuits pending in two New Jersey MCLs formed for Proceed/Proceed Ventral Patch and Prolene Hernia systems, and lawsuits pending outside the United States. In May 2021, Ethicon and lead counsel for the plaintiffs entered into a term sheet to resolve approximately 3,600 Physiomesh cases (covering approximately 4,300 plaintiffs) pending in the MDL and MCL at that time. A master settlement agreement (MSA) was entered into in September 2021 and includes 3,729 cases in the MDL and MCL. Other than a small number of cases still pending in the MDL, all Physiomesh matters in the United States have been resolved or are undergoing formal review for purposes of settlement.
Claims have also been filed against Ethicon and the Company alleging personal injuries arising from the PROCEED Mesh and PROCEED Ventral Patch hernia mesh products. In March 2019, the New Jersey Supreme Court entered an order consolidating these cases pending in New Jersey as an MCL in Atlantic County Superior Court. Additional cases have been filed in various federal and state courts in the United States, and in jurisdictions outside the United States.
Ethicon and the Company also have been subject to claims for personal injuries arising from the PROLENE Polypropylene Hernia System. In January 2020, the New Jersey Supreme Court created an MCL in Atlantic County Superior Court to handle such cases. Cases involving this product have also been filed in other federal and state courts in the United States.
In October 2022, an agreement in principle, subject to various conditions, was reached to settle the majority of the pending cases involving Proceed, Proceed Ventral Patch, Prolene Hernia System and related multi-layered mesh products, as well as a number of unfiled claims. All litigation activities in the two New Jersey MCLs are stayed pending effectuation of the proposed settlement. Future cases that are filed in the New Jersey MCLs will be subject to docket control orders requiring early expert reports and discovery requirements.
The Company has established accruals with respect to product liability litigation associated with Ethicon Physiomesh Flexible Composite Mesh, PROCEED Mesh and PROCEED Ventral Patch, and PROLENE Polypropylene Hernia System products.
Innovative Medicine
RISPERDAL
Claims for personal injury have been made against Janssen Pharmaceuticals, Inc. and the Company arising out of the use of RISPERDAL, and related compounds, indicated for the treatment of schizophrenia, acute manic or mixed episodes associated with bipolar I disorder and irritability associated with autism. Lawsuits primarily have been filed in state courts in Pennsylvania, California, and Missouri. Other actions are pending in various courts in the United States and Canada. The Company continues to defend RISPERDAL product liability lawsuits, and continues to evaluate potential costs related to those claims. The Company has successfully defended a number of these cases but there have been verdicts against the Company, including a verdict in October 2019 of $8.0 billion of punitive damages related to one plaintiff, which the trial judge reduced to $6.8 million in January 2020. In September 2021, the Company entered into a settlement in principle with the counsel representing plaintiffs in this matter and in substantially all of the outstanding cases in the United States. The costs associated with this and other settlements are reflected in the Company's accruals.
ELMIRON
Claims for personal injury have been made against a number of Johnson & Johnson companies, including Janssen Pharmaceuticals, Inc. and the Company, arising out of the use of ELMIRON, a prescription medication indicated for the relief of bladder pain or discomfort associated with interstitial cystitis. These lawsuits, which allege that ELMIRON contributes to the development of permanent retinal injury and vision loss, have been filed in both state and federal courts across the United States. In December 2020, lawsuits filed in federal courts in the United States, including putative class action cases seeking medical monitoring, were organized as a multi-district litigation in the United States District Court for the District of New
Jersey (MDL). In addition, cases have been filed in various state courts of New Jersey, which have been coordinated in a multi-county litigation in Bergen County, as well as the Court of Common Pleas in Philadelphia, which have been coordinated and granted mass tort designation. In addition, three class action lawsuits have been filed in Canada. The Company continues to defend ELMIRON product liability lawsuits and continues to evaluate potential costs related to those claims. All U.S. based ELMIRON matters have been resolved or are undergoing formal review for purposes of settlement. The Company has established accruals for defense and indemnity costs associated with ELMIRON related product liability litigation.
Intellectual property
Certain subsidiaries of the Company are subject, from time to time, to legal proceedings and claims related to patent, trademark and other intellectual property matters arising out of their businesses. Many of these matters involve challenges to the scope and/or validity of patents that relate to various products and allegations that certain of the Company’s products infringe the intellectual property rights of third parties. Although these subsidiaries believe that they have substantial defenses to these challenges and allegations with respect to all significant patents, there can be no assurance as to the outcome of these matters. A loss in any of these cases could adversely affect the ability of these subsidiaries to sell their products, result in loss of sales due to loss of market exclusivity, require the payment of past damages and future royalties, and may result in a non-cash impairment charge for any associated intangible asset.
Innovative Medicine - litigation against filers of abbreviated new drug applications (ANDAs)
The Company’s subsidiaries have brought lawsuits against generic companies that have filed ANDAs with the U.S. FDA (or similar lawsuits outside of the United States) seeking to market generic versions of products sold by various subsidiaries of the Company prior to expiration of the applicable patents covering those products. These lawsuits typically include allegations of non-infringement and/or invalidity of patents listed in FDA’s publication “Approved Drug Products with Therapeutic Equivalence Evaluations” (commonly known as the Orange Book). In each of these lawsuits, the Company’s subsidiaries are seeking an order enjoining the defendant from marketing a generic version of a product before the expiration of the relevant patents (Orange Book Listed Patents). In the event the Company’s subsidiaries are not successful in an action, or any automatic statutory stay expires before the court rulings are obtained, the generic companies involved would have the ability, upon regulatory approval, to introduce generic versions of their products to the market, resulting in the potential for substantial market share and revenue losses for the applicable products, and which may result in a non-cash impairment charge in any associated intangible asset. In addition, from time to time, the Company’s subsidiaries may settle these types of actions and such settlements can involve the introduction of generic versions of the products at issue to the market prior to the expiration of the relevant patents.
The Inter Partes Review (IPR) process with the United States Patent and Trademark Office (USPTO), created under the 2011 America Invents Act, is also being used at times by generic companies in conjunction with ANDAs and lawsuits to challenge the applicable patents.
XARELTO
Beginning in March 2021, Janssen Pharmaceuticals, Inc.; Bayer Pharma AG; Bayer AG; and Bayer Intellectual Property GmbH filed patent infringement lawsuits in United States district courts against generic manufacturers who have filed ANDAs seeking approval to market generic versions of XARELTO before expiration of certain Orange Book Listed Patents. The following entities are named defendants: Dr. Reddy’s Laboratories, Inc.; Dr. Reddy’s Laboratories, Ltd.; Lupin Limited; Lupin Pharmaceuticals, Inc.; Taro Pharmaceutical Industries Ltd.; Taro Pharmaceuticals U.S.A., Inc.; Teva Pharmaceuticals USA, Inc.; Mylan Pharmaceuticals Inc.; Mylan Inc.; Mankind Pharma Limited; Apotex Inc.; Apotex Corp.; Auson Pharmaceuticals Inc.; Shanghai Auson Pharmaceuticals Co. Ltd.; Cipla Ltd.; Cipla USA Inc.; InvaGen Pharmaceuticals, Inc.; Prinston Pharmaceuticals, Inc.; Ascent Pharmaceuticals, Inc.; and Hetero Labs Limited. In October 2024, the Company entered into a confidential settlement agreement with Auson Pharmaceuticals Inc. and Shanghai Auson Pharmaceuticals Co., Ltd. and the case was dismissed. In November 2024, the Company entered into confidential settlement agreements with Ascent Pharmaceuticals Inc. that resulted in dismissal of litigation against Ascent Pharmaceuticals, Inc. and Hetero Labs Limited. In January 2025, the Company entered into a confidential settlement agreement with Prinston Pharmaceutical, Inc. (as to U.S. Patent No. 9,539,218). The following U.S. patents are included in one or more cases: 9,539,218 and 10,828,310.
U.S. Patent No. 10,828,310 was also under consideration by the USPTO in an IPR proceeding. In July 2023, the USPTO issued a final written decision finding the claims of the patent invalid. In September 2023, Bayer Pharma AG filed an appeal to the U.S. Court of Appeals for the Federal Circuit.
INVEGA SUSTENNA
Beginning in January 2018, Janssen Pharmaceutica NV and Janssen Pharmaceuticals, Inc. filed patent infringement lawsuits in United States district courts against generic manufacturers who have filed ANDAs seeking approval to market generic versions of INVEGA SUSTENNA before expiration of the Orange Book Listed Patent. The following entities are named defendants: Teva Pharmaceuticals USA, Inc.; Mylan Laboratories Limited; Pharmascience Inc.; Mallinckrodt PLC; Specgx LLC; Tolmar, Inc.; Accord Healthcare, Inc.; Qilu Pharmaceutical Co. Ltd.; and Qilu Pharma Inc. The following U.S. patent is included in one or more cases: 9,439,906. In October 2020, the district court issued a decision in the case against Teva Pharmaceuticals USA, Inc., finding that United States Patent No. 9,439,906 is not invalid. Teva previously stipulated to infringement. Teva appealed the decision, and, in April 2024, the United States Court of Appeals for the Federal Circuit vacated and remanded the case to the district court for further proceedings. In November 2024, the district court issued its decision on remand, finding that United States Patent No. 9,439,906 is not invalid. Teva appealed to the Court of Appeals for the Federal Circuit, and oral argument is scheduled for April 2025. In February 2024, the district court issued a decision in the case against Tolmar Inc. finding that United States Patent No. 9,439,906 is not invalid. Tolmar previously stipulated to infringement. Tolmar has appealed the decision.
Beginning in February 2018, Janssen Inc. and Janssen Pharmaceutica NV initiated a Statement of Claim under Section 6 of the Patented Medicines (Notice of Compliance) Regulations against generic manufacturers who have filed ANDSs seeking approval to market generic versions of INVEGA SUSTENNA before expiration of the listed patent. The following entities are named defendants: Pharmascience Inc. and Apotex Inc. The following Canadian patent is included in one or more cases: 2,655,335. In June 2024, the Supreme Court dismissed the Apotex case. In September 2024, the Supreme Court granted Pharmascience's motion to appeal the Federal Court's decision that the 2,655,335 Patent is not invalid.
INVEGA TRINZA
Beginning in September 2020, Janssen Pharmaceuticals, Inc., Janssen Pharmaceutica NV, and Janssen Research & Development, LLC filed patent infringement lawsuits in United States district courts against generic manufacturers who have filed ANDAs seeking approval to market generic versions of INVEGA TRINZA before expiration of the Orange Book Listed Patent. The following entities are named defendants: Mylan Laboratories Limited; Mylan Pharmaceuticals Inc.; and Mylan Institutional LLC. The following U.S. patent is included in one or more cases: 10,143,693. In May 2023, the District Court issued a decision finding that Mylan’s proposed generic product infringes the asserted patent and that the patent is not invalid. Mylan has appealed the decision. Oral argument before the Court of Appeals for the Federal Circuit was held in February 2025.
SYMTUZA
Beginning in November 2021, Janssen Products, L.P., Janssen Sciences Ireland Unlimited Company, Gilead Sciences, Inc. and Gilead Sciences Ireland UC filed patent infringement lawsuits in United States district courts against generic manufacturers who have filed ANDAs seeking approval to market generic versions of SYMTUZA before expiration of certain Orange Book Listed Patents. The following entities are named defendants: Lupin Limited; Lupin Pharmaceuticals, Inc.; MSN Laboratories Private Ltd.; MSN Life Sciences Private Ltd.; MSN Pharmaceuticals Inc.; Apotex Inc.; and Apotex Corp. The following U.S. patents are included in one or more cases: 10,039,718 and 10,786,518. A trial is scheduled to begin in February 2025.
ERLEADA
Beginning in May 2022, Aragon Pharmaceuticals, Inc., Janssen Biotech, Inc. (collectively, Janssen), Sloan Kettering Institute for Cancer Research (SKI) and The Regents of the University of California filed patent infringement lawsuits in United States district courts against generic manufacturers who have filed ANDAs seeking approval to market generic versions of ERLEADA before expiration of certain Orange Book Listed Patents. The following entities are named defendants: Zydus Worldwide DMCC; Zydus Pharmaceuticals (USA), Inc.; Zydus Lifesciences Limited; Hetero Labs Limited Unit V; and Hetero USA, Inc. The following U.S. patents are included in one or more cases: 9,481,663; 9,884,054; 10,052,314 (which reissued as RE49,353); 10,702,508; 10,849,888; 8,445,507; 8,802,689; 9,388,159; 9,987,261; RE49,353; and 11,963,952. In October 2024, Janssen, The Regents of the University of California, SKI, Hetero Labs Limited Unit V, and Hetero USA, Inc. entered into a confidential settlement, and the case was dismissed. In November 2024, Janssen, The Regents of the University of California, Zydus Worldwide DMCC, Zydus Pharmaceuticals (USA), Inc., and Zydus Lifesciences Limited entered into confidential settlements, and the cases were dismissed.
SPRAVATO
Beginning in May 2023, Janssen Pharmaceuticals, Inc. and Janssen Pharmaceutica NV filed patent infringement lawsuits in United States district courts against generic manufacturers who have filed ANDAs seeking approval to market generic versions of SPRAVATO before expiration of certain Orange Book Listed Patents. The following entities are named defendants: Sandoz
Inc.; Hikma Pharmaceuticals Inc. USA; Hikma Pharmaceuticals PLC; and Alkem Laboratories Ltd. The following U.S. patents are included in one or more cases: 10,869,844; 11,173,134; 11,311,500; and 11,446,260.
INVOKANA
Beginning in January 2024, Janssen Inc. and Mitsubishi Tanabe Pharma Corporation initiated Statements of Claim under Section 6 of the Patented Medicines (Notice of Compliance) Regulations against generic manufacturers who filed ANDSs seeking approval to market generic versions of INVOKANA before expiration of the listed patents. The following entities are named defendants: Jamp Pharma Corporation and Apotex Inc. The following Canadian patents are included in one or more cases: 2,534,024 and 2,671,357. Trial in the Jamp action is scheduled for September 2025, and trial in the Apotex action is scheduled for December 2025.
MedTech
In March 2016, Abiomed, Inc. (Abiomed) filed a declaratory judgment action against Maquet Cardiovascular LLC (Maquet) in U.S. District Court for the District of Massachusetts seeking a declaration that the Impella does not infringe certain Maquet patents, currently U.S. Patent Nos. 7,022,100 (’100); 8,888,728; 9,327,068; 9,545,468; 9,561,314; and 9,597,437. Maquet counterclaimed for infringement of each of those patents. After claim construction, Maquet alleged infringement of only the ’100 patent. In September 2021, the court granted Abiomed’s motion for summary judgment of non-infringement of the ’100 patent, and in September 2023, the district court entered final judgment in favor of Abiomed on all patents-in-suit. Maquet appealed.
Government proceedings
Like other companies in the pharmaceutical and medical technologies industries, the Company and certain of its subsidiaries are subject to extensive regulation by national, state and local government agencies in the United States and other countries in which they operate. Such regulation has been the basis of government investigations and litigations. The most significant litigation brought by, and investigations conducted by, government agencies are listed below. It is possible that criminal charges and substantial fines and/or civil penalties or damages could result from government investigations or litigation.
MedTech
In July 2018, the Public Prosecution Service in Rio de Janeiro and representatives from the Brazilian antitrust authority CADE inspected the offices of more than 30 companies including Johnson & Johnson do Brasil Indústria e Comércio de Produtos para Saúde Ltda. The authorities appear to be investigating allegations of possible anti-competitive behavior and possible improper payments in the medical device industry. The Company continues to respond to inquiries regarding the Foreign Corrupt Practices Act from the United States Department of Justice (DOJ) and the United States Securities and Exchange Commission. The Company has been informed DOJ has closed its investigation.
In July 2023, the DOJ issued Civil Investigative Demands to the Company, Johnson & Johnson Surgical Vision, Inc., and Johnson & Johnson Vision Care, Inc. (collectively, J&J Vision) in connection with a civil investigation under the False Claims Act relating to free or discounted intraocular lenses and equipment used in eye surgery, such as phacoemulsification and laser systems. J&J Vision has begun producing documents and information responsive to the Civil Investigative Demands. J&J Vision is in ongoing discussions with the DOJ regarding its inquiry.
Innovative Medicine
In July 2016, the Company and Janssen Products, LP were served with a qui tam complaint pursuant to the False Claims Act filed in the United States District Court for the District of New Jersey alleging the off-label promotion of two HIV products, PREZISTA and INTELENCE, and anti-kickback violations in connection with the promotion of these products. The complaint was filed under seal in December 2012. The federal and state governments have declined to intervene, and the lawsuit is being prosecuted by the relators. The Court denied summary judgment on all claims in December 2021. Daubert motions were granted in part and denied in part in January 2022, and trial commenced in May 2024. On June 13, 2024, a jury found no liability regarding the anti-kickback violations but found liability for a portion of the off-label promotion claims. The Company is pursuing post-trial briefing challenging the verdict on the off-label claims.
In March 2017, Janssen Biotech, Inc. (JBI) received a Civil Investigative Demand from the United States Department of Justice regarding a False Claims Act investigation concerning management and advisory services provided to rheumatology and gastroenterology practices that purchased REMICADE or SIMPONI ARIA. In August 2019, the United States Department of Justice notified JBI that it was closing the investigation. Subsequently, the United States District Court for the District of Massachusetts unsealed a qui tam False Claims Act complaint, which was served on the Company. The Department of Justice
had declined to intervene in the qui tam lawsuit in August 2019. The Company filed a motion to dismiss, which was granted in part and denied in part. Discovery is underway.
General litigation
The Company or its subsidiaries are also parties to various proceedings brought under the Comprehensive Environmental Response, Compensation, and Liability Act, commonly known as Superfund, and comparable state, local or foreign laws in which the primary relief sought is the Company’s agreement to implement remediation activities at designated hazardous waste sites or to reimburse the government or third parties for the costs they have incurred in performing remediation as such sites.
In October 2017, certain United States service members and their families brought a complaint against a number of pharmaceutical and medical devices companies, including Johnson & Johnson and certain of its subsidiaries in United States District Court for the District of Columbia, alleging that the defendants violated the United States Anti-Terrorism Act. The complaint alleges that the defendants provided funding for terrorist organizations through their sales practices pursuant to pharmaceutical and medical device contracts with the Iraqi Ministry of Health. In July 2020, the District Court dismissed the complaint. In January 2022, the United States Court of Appeals for the District of Columbia Circuit reversed the District Court’s decision. In June 2023, defendants filed a petition for a writ of certiorari to the United States Supreme Court. In June 2024, the Supreme Court vacated the D.C. Circuit's decision and remanded the case to the D.C. Circuit. Oral argument was held in November 2024.
In February 2024, a putative class action was filed against the Company, the Pension & Benefits Committee of Johnson & Johnson (Committee), and certain named officers and employees, in United States District Court for the District of New Jersey. In May 2024, the plaintiff filed an amended complaint against the Company and the Committee. The complaint alleges that defendants breached fiduciary duties under the Employee Retirement Income Security Act (ERISA) by allegedly mismanaging the Company’s prescription-drug benefits program. The complaint seeks damages and other relief. In January 2025, the Court granted in part and denied in part defendants’ motion to dismiss.
MedTech
In October 2020, Fortis Advisors LLC (Fortis), in its capacity as representative of the former stockholders of Auris Health Inc. (Auris), filed a complaint against the Company, Ethicon Inc., and certain named officers and employees (collectively, Ethicon) in the Court of Chancery of the State of Delaware. The complaint alleges breach of contract, fraud, and other causes of action against Ethicon in connection with Ethicon’s acquisition of Auris in 2019. The complaint seeks damages and other relief. In December 2021, the Court granted in part and denied in part defendants’ motion to dismiss certain causes of action. All claims against the individual defendants were dismissed. The trial occurred in January 2024. In September 2024, the court found liability with respect to certain claims and no liability with respect to other claims. The Company has appealed the decision.
In October 2019, Innovative Health, LLC filed a complaint against Biosense Webster, Inc (BWI) in the United States District Court for the Central District of California. The complaint alleges that certain of BWI's business practices and contractual terms violate the antitrust laws of the United States and the State of California by restricting competition in the sale of High Density Mapping Catheters and Ultrasound Catheters. Trial is scheduled for April 2025.
Innovative Medicine
In June 2019, the United States Federal Trade Commission (FTC) issued a Civil Investigative Demand to the Company and Janssen Biotech, Inc. (collectively, Janssen) in connection with its investigation of whether Janssen’s REMICADE contracting practices violate federal antitrust laws. The Company has produced documents and information responsive to the Civil Investigative Demand. Janssen is in ongoing discussions with the FTC staff regarding its inquiry.
In February 2022, the United States Federal Trade Commission (FTC) issued Civil Investigative Demands to Johnson & Johnson and Janssen Biotech, Inc. (collectively, Janssen) in connection with its investigation of whether advertising practices for REMICADE violate federal law. Janssen has produced documents and information responsive to the Civil Investigative Demands. In January 2025, the FTC Bureau of Consumer Protection informed Janssen that it was closing its investigation.
In October 2018, two separate putative class actions were filed against Actelion Pharmaceutical Ltd., Actelion Pharmaceuticals U.S., Inc., and Actelion Clinical Research, Inc. (collectively Actelion) in United States District Court for the District of Maryland and United States District Court for the District of Columbia. The complaints allege that Actelion violated state and federal antitrust and unfair competition laws by allegedly refusing to supply generic pharmaceutical manufacturers with samples of TRACLEER. TRACLEER is subject to a Risk Evaluation and Mitigation Strategy required by the U.S. Food and Drug Administration, which imposes restrictions on distribution of the product. In January 2019, the plaintiffs dismissed the District of Columbia case and filed a consolidated complaint in the United States District Court for the District of Maryland. In September 2024, the district court granted plaintiff's motion for class certification. Trial is scheduled for March 2026.
In December 2023, a putative class action lawsuit was filed against the Company and Janssen Biotech Inc. (collectively Janssen) in the United States District Court for the Eastern District of Virginia. The complaint alleges that Janssen violated federal and state antitrust laws and other state laws by delaying biosimilar competition with STELARA through Janssen's enforcement of patent rights covering STELARA. The complaint seeks damages and other relief. In February 2024, plaintiffs filed an amended complaint, which Janssen moved to dismiss in March 2024. In August 2024, the court granted in part and denied in part Janssen's motion to dismiss.
In December 2018, Janssen Biotech, Inc., Janssen Oncology, Inc., Janssen Research & Development, LLC, and Johnson & Johnson (collectively, Janssen) were served with a qui tam complaint on behalf of the United States, certain states, and the District of Columbia. The complaint alleges that Janssen violated the federal False Claims Act and state law when providing pricing information for ZYTIGA to the government in connection with direct sales and reimbursement programs. At this time, the federal and state governments have declined to intervene. In December 2021, the United States District Court for the District of New Jersey denied Janssen's motion to dismiss.
v3.25.0.1
Restructuring
 12 Months Ended
Dec. 29, 2024
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
In fiscal 2023, the Company commenced restructuring actions within its Innovative Medicine and MedTech segments. The amounts and details of the current year programs are included below.
In fiscal 2023, the Company completed a prioritization of its research and development (R&D) investment within its Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within certain therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. Pre-tax Restructuring expenses of $0.1 billion in the fiscal year 2024, included the termination of partnered and non-partnered development program costs, asset impairments and asset divestments. Pre-tax Restructuring expenses of $0.5 billion in the fiscal year 2023, included the termination of partnered and non-partnered development program costs and asset impairments. Total project costs of approximately $0.6 billion have been recorded since the restructuring was announced. The program was completed in the fiscal fourth quarter of 2024.
In fiscal 2023, the Company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The pre-tax restructuring expense of $0.2 billion in the fiscal year 2024 primarily included costs related to market and product exits. The pre-tax restructuring expense of $0.3 billion in the fiscal year 2023 primarily included inventory and instrument charges related to market and product exits. Total project costs of approximately $0.5 billion have been recorded since the restructuring was announced. The estimated costs of the total program are between $0.7 billion - $0.8 billion and is expected to be completed by the end of fiscal year 2025.
The following table summarizes the restructuring expenses for the fiscal years 2024 and 2023:
(Pre-tax Dollars in Millions)20242023
Innovative Medicine Segment(1)
$102479
MedTech Segment(2)
167319
Total Programs$269$798
(1)The fiscal year of 2024 included $102 million in Restructuring on the Consolidated Statement of Earnings. The fiscal year of 2023 included $449 million in Restructuring and $30 million in Cost of products sold on the Consolidated Statement of Earnings.
(2)The fiscal year of 2024 included $132 million in Restructuring and $35 million in Cost of products sold on the Consolidated Statement of Earnings. The fiscal year of 2023 Included $40 million in Restructuring and $279 million in Cost of products sold on the Consolidated Statement of Earnings.
Restructuring reserves as of December 29, 2024 and December 31, 2023 were insignificant.
v3.25.0.1
Kenvue separation and discontinued operations
 12 Months Ended
Dec. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Kenvue separation and discontinued operations Kenvue separation and discontinued operations
The results of the Consumer Health business (previously reported as a separate business segment) have been reflected as discontinued operations in the Company’s consolidated statements of earnings as Net earnings from discontinued operations, net of taxes through August 23, 2023, the date of the exchange offer. Prior periods have been recast to reflect this presentation.
On May 15, 2024, the Company issued $3.6 billion aggregate principal amount of commercial paper and received $3.6 billion of net cash proceeds to be used for general corporate purposes. On May 17, 2024, the Company completed a Debt-for-Equity Exchange of its remaining 182,329,550 shares of Kenvue Common Stock for the outstanding Commercial Paper. Upon completion of the Debt-for-Equity Exchange, the Commercial Paper was satisfied and discharged and the Company no longer owns any shares of Kenvue Common Stock. This exchange resulted in a loss of approximately $0.4 billion recorded in Other (income) expense.
On May 8, 2023, Kenvue, completed an initial public offering (the IPO) resulting in the issuance of 198,734,444 shares of its common stock, par value $0.01 per share (the “Kenvue Common Stock”), at an initial public offering of $22.00 per share for net proceeds of $4.2 billion. The excess of the net proceeds from the IPO over the net book value of the Johnson & Johnson divested interest was $2.5 billion and was recorded to additional paid-in capital. As of the closing of the IPO, Johnson & Johnson owned approximately 89.6% of the total outstanding shares of Kenvue Common Stock and at July 2, 2023, the non-controlling interest of $1.3 billion associated with Kenvue was reflected in equity attributable to non-controlling interests in the consolidated balance sheet in the fiscal second quarter of 2023.
On August 23, 2023, Johnson & Johnson completed the disposition of an additional 80.1% ownership of Kenvue Common Stock through an exchange offer, which resulted in Johnson & Johnson acquiring 190,955,436 shares of the Company’s common stock in exchange for 1,533,830,450 shares of Kenvue Common Stock. The $31.4 billion of Johnson & Johnson common stock received in the exchange offer is recorded in Treasury stock. Following the exchange offer, the Company owned 9.5% of the total outstanding shares of Kenvue Common Stock that was recorded in other assets within continuing operations at the fair market value of $4.3 billion as of August 23, 2023. Subsequent changes are reflected in other income/expense and amounted to $0.4 billion expense through December 31, 2023.
Johnson & Johnson divested net assets of $11.6 billion as of August 23, 2023, and the accumulated other comprehensive loss attributable to the Consumer Health business at that date was $4.3 billion. Additionally, at the date of the exchange offer, Johnson & Johnson decreased the non-controlling interest by $1.2 billion to record the deconsolidation of Kenvue. This resulted in a non-cash gain on the exchange offer of $21.0 billion that was recorded in Net earnings from discontinued operations, net of taxes in the consolidated statements of earnings for the fiscal third quarter of 2023. This one-time gain includes a gain of $2.8 billion on the Kenvue Common Stock retained by Johnson & Johnson. The gain on the exchange offer qualifies as a tax-free transaction for U.S. federal income tax purposes.
Also in connection with the separation, Johnson & Johnson and Kenvue entered into a separation agreement and also entered into various other agreements that provide for certain transactions to effect the transfer of the assets and liabilities of the Consumer Health business to Kenvue and to govern various interim and ongoing relationships between Kenvue and Johnson & Johnson following the completion of the Kenvue IPO, including transition services agreements (TSAs), transition manufacturing agreements (TMAs), trademark agreements, intellectual property agreements, an employee matters agreement, and a tax matters agreement. Under the TSAs, Johnson & Johnson will provide Kenvue various services and, similarly, Kenvue will provide Johnson & Johnson various services. The provision of services under the TSAs generally will terminate within 24 months following the Kenvue IPO. Additionally, Johnson & Johnson and Kenvue entered into TMAs pursuant to which Johnson & Johnson will manufacture and supply to Kenvue certain products and, similarly, Kenvue will manufacture and supply to Johnson & Johnson certain products. The terms of the TMAs range in initial duration from 3 months to 5 years.
Amounts related to the TSAs and TMAs included in the consolidated statements of earnings were immaterial for both fiscal years 2024 and 2023. Additionally, the amounts due to and from Kenvue for the above agreements was not material as of December 31, 2023.
The results of the Consumer Health business (previously reported as a separate business segment), as well as the associated gain, have been reflected as discontinued operations in the Company’s consolidated statements of earnings as Net earnings from discontinued operations, net of taxes. As a result of the separation of Kenvue, Johnson & Johnson incurred separation costs of $145 million in the fiscal year 2024, which was included in Net Earnings and incurred separation costs of $986 million and $1,089 million in the fiscal years 2023 and 2022, respectively, which were included in Net earnings from discontinued operations, net of taxes. These costs were primarily related to external advisory, legal, accounting, contractor and other
incremental costs directly related to separation activities. In the fiscal 2022, as part of the planned separation of the Company’s Consumer Health business, the Company recognized approximately $0.5 billion in net incremental tax costs.
Details of Net Earnings from Discontinued Operations, net of taxes are as follows:
(Dollars in Millions)
 2023(1)
2022
Sales to customers$10,03614,953
Cost of products sold4,3696,494
Gross profit5,6678,459
Selling, marketing and administrative expenses3,0854,519
Research and development expense258468
Interest Income(117)—
Interest expense, net of portion capitalized199—
Other (income) expense, net1,0921,060
(Gain) on separation of Kenvue(20,984)—
Restructuring—46
Earnings from Discontinued Operations Before Provision for Taxes on Income22,1342,366
Provision for taxes on income307795
Net earnings from Discontinued Operations$21,8271,571
(1)The Company ceased consolidating the results of the Consumer Health business on August 23, 2023, the date of the exchange offer, but continued to reflect any separation costs incurred as part of discontinued operations through the end of the fiscal fourth quarter.
The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue:
(Dollars in Millions)
 2023(1)
2022
Depreciation and Amortization$383641
Capital expenditures$162303
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Pay vs Performance Disclosure      
Net earnings $ 14,066 $ 35,153 $ 17,941
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 29, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 29, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 29, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Company has documented cybersecurity policies and standards, assesses risks from cybersecurity threats, and monitors information systems for potential cybersecurity issues. To protect the Company’s information systems from cybersecurity threats, the Company uses various security tools supporting protection, detection, and response capabilities. The Company maintains a cybersecurity incident response plan to help ensure a timely, consistent response to actual or attempted cybersecurity incidents impacting the Company.
The Company also identifies and assesses third-party risks within the enterprise, and through the Company's use of third-party service providers, across a range of areas including data security and supply chain through a structured third-party risk management program.
The Company maintains a formal information security training program for all employees that includes training on matters such as phishing and email security best practices. Employees are also required to complete mandatory training on data privacy.
To evaluate and enhance its cybersecurity program, the Company periodically utilizes third-party experts to undertake maturity assessments of the Company’s information security program.
To date, the Company is not aware of any cybersecurity incident that has had or is reasonably likely to have a material impact on the Company’s business or operations; however, because of the frequently changing attack techniques, along with the increased volume and sophistication of the attacks, there is the potential for the Company to be adversely impacted. This impact could result in reputational, competitive, operational or other business harm as well as financial costs and regulatory action. Refer to the risk factor captioned An information security incident, including a cybersecurity breach, could have a negative impact to the Company’s business or reputation in Part I, Item 1A. Risk factors for additional description of cybersecurity risks and potential related impacts on the Company.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Company has documented cybersecurity policies and standards, assesses risks from cybersecurity threats, and monitors information systems for potential cybersecurity issues. To protect the Company’s information systems from cybersecurity threats, the Company uses various security tools supporting protection, detection, and response capabilities. The Company maintains a cybersecurity incident response plan to help ensure a timely, consistent response to actual or attempted cybersecurity incidents impacting the Company.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Governance - board oversight
The Company’s Board of Directors oversees the overall risk management process, including cybersecurity risks, directly and through its committees. The Regulatory Compliance & Sustainability Committee (RCSC) of the board is primarily responsible for oversight of risk from cybersecurity threats and oversees compliance with applicable laws, regulations and Company policies related to, among others, privacy and cybersecurity.
RCSC meetings include discussions of specific risk areas throughout the year including, among others, those relating to cybersecurity. The CISO provides quarterly updates each year to RCSC on cybersecurity matters. These reports include an overview of the cybersecurity threat landscape, key cybersecurity initiatives to improve the Company’s risk posture, changes in the legal and regulatory landscape relative to cybersecurity, and overviews of certain cybersecurity incidents that have occurred within the Company and within the industry.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Company’s Board of Directors oversees the overall risk management process, including cybersecurity risks, directly and through its committees. The Regulatory Compliance & Sustainability Committee (RCSC) of the board is primarily responsible for oversight of risk from cybersecurity threats and oversees compliance with applicable laws, regulations and Company policies related to, among others, privacy and cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
RCSC meetings include discussions of specific risk areas throughout the year including, among others, those relating to cybersecurity. The CISO provides quarterly updates each year to RCSC on cybersecurity matters. These reports include an overview of the cybersecurity threat landscape, key cybersecurity initiatives to improve the Company’s risk posture, changes in the legal and regulatory landscape relative to cybersecurity, and overviews of certain cybersecurity incidents that have occurred within the Company and within the industry.
Cybersecurity Risk Role of Management [Text Block]
Governance - management’s responsibility
The Company takes a risk-based approach to cybersecurity and has implemented cybersecurity controls designed to address cybersecurity threats and risks. The Chief Information Officer (CIO), who is a member of the Company’s Executive Committee, and the Chief Information Security Officer (CISO) are responsible for assessing and managing cybersecurity risks, including security incident detection, response, and recovery.
The Company’s CISO, in coordination with the CIO, is responsible for leading the Company’s cybersecurity program and management of cybersecurity risk. The current CISO has over twenty-five years of experience in information security, and his background includes technical experience, strategy and architecture focused roles, cyber and threat experience, and various leadership roles.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Company takes a risk-based approach to cybersecurity and has implemented cybersecurity controls designed to address cybersecurity threats and risks. The Chief Information Officer (CIO), who is a member of the Company’s Executive Committee, and the Chief Information Security Officer (CISO) are responsible for assessing and managing cybersecurity risks, including security incident detection, response, and recovery.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The current CISO has over twenty-five years of experience in information security, and his background includes technical experience, strategy and architecture focused roles, cyber and threat experience, and various leadership roles.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Company’s Board of Directors oversees the overall risk management process, including cybersecurity risks, directly and through its committees. The Regulatory Compliance & Sustainability Committee (RCSC) of the board is primarily responsible for oversight of risk from cybersecurity threats and oversees compliance with applicable laws, regulations and Company policies related to, among others, privacy and cybersecurity.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of significant accounting policies (Policies)
 12 Months Ended
Dec. 29, 2024
Accounting Policies [Abstract]  
Principles of consolidation
Principles of consolidation
The consolidated financial statements include the accounts of Johnson & Johnson and its subsidiaries (the Company). Intercompany accounts and transactions are eliminated. Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures.
Business segments
Business segments
The Company is organized into two business segments: Innovative Medicine and MedTech. The Innovative Medicine segment is focused on the following therapeutic areas: Immunology, Infectious Diseases, Neuroscience, Oncology, Pulmonary Hypertension, and Cardiovascular and Metabolic. Products in this segment are distributed directly to retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use. The MedTech segment includes a broad portfolio of products used in the Orthopaedic, Surgery, Cardiovascular (previously referred to as Interventional Solutions) and Vision fields. These products are distributed to wholesalers, hospitals and retailers, and used principally in the professional fields by physicians, nurses, hospitals, eye care professionals and clinics.
New accounting standards and Recently issued accounting standards
New accounting standards
Recently adopted accounting standards
ASU 2023-07: Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures
The Company adopted the standard in the fiscal year 2024, which requires expanded annual and interim disclosures for significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. The standard was applied retrospectively to all periods presented in the financial statements. As this accounting standard only impacts disclosures, it did not have a material impact on the Company’s Consolidated Financial Statements. See Note 17 for the required disclosures.
Recently issued accounting standards
Not adopted as of December 29, 2024
ASU 2024-03: Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
This update requires disclosure of disaggregated information about certain income statement expense line items on an annual and interim basis. This update will be effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements.
ASU 2023-09: Income Taxes (Topic 740) - Improvements to Income Tax Disclosures
This update standardizes categories for the effective tax rate reconciliation, requires disaggregation of income taxes and additional income tax-related disclosures. This update is required to be effective for the Company for fiscal periods beginning after December 15, 2024. As this accounting standard only impacts disclosures, it will not have a material impact on the Company’s Consolidated Financial Statements.
Cash equivalents
Cash equivalents
The Company classifies all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months from the date of purchase as current marketable securities. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company invests its cash primarily in government securities and obligations, corporate debt securities, money market funds and reverse repurchase agreements (RRAs).
RRAs are collateralized by deposits in the form of Government Securities and Obligations for an amount not less than 102% of their value. The Company does not record an asset or liability as the Company is not permitted to sell or repledge the associated collateral. The Company has a policy that the collateral has at least an A (or equivalent) credit rating. The Company utilizes a third party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the RRAs on a daily basis. RRAs with stated maturities of greater than three months from the date of purchase are classified as marketable securities.
Investments
Investments
Investments classified as held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings. Investments classified as available-for-sale debt securities are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income. Available-for-sale securities available for current operations are classified as current assets; otherwise, they are classified as long term. Management determines the appropriate classification of its investment in debt and equity securities at the time of purchase and re-evaluates such determination at each balance sheet date. The Company reviews its investments for impairment and adjusts these investments to fair value through earnings, as required.
Property, plant and equipment and depreciation
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost. The Company utilizes the straight-line method of depreciation over the estimated useful lives of the assets:
Building and building equipment
30 years
Land and leasehold improvements
10 - 20 years
Machinery and equipment
2 - 13 years
The Company capitalizes certain computer software and development costs, included in machinery and equipment, when incurred in connection with developing or obtaining computer software for internal use. Capitalized software costs are amortized over the estimated useful lives of the software, which generally range from 3 to 8 years.
The Company reviews long-lived assets to assess recoverability using undiscounted cash flows. When certain events or changes in operating or economic conditions occur, an impairment assessment may be performed on the recoverability of the carrying value of these assets. If the asset is determined to be impaired, the loss is measured based on the difference between the asset’s fair value and its carrying value. If quoted market prices are not available, the Company will estimate fair value using a discounted value of estimated future cash flows.
Revenue recognition
Revenue recognition
The Company recognizes revenue from product sales when obligations under the terms of a contract with the customer are satisfied; generally, this occurs with the transfer of control of the goods to customers. The Company's global payment terms are typically between 30 to 90 days. Provisions for certain rebates, sales incentives, trade promotions, coupons, product returns, discounts to customers and governmental clawback provisions are accounted for as variable consideration and recorded as a reduction in sales. The liability is recognized within Accrued rebates, returns, and promotions on the consolidated balance sheet.
Product discounts granted are based on the terms of arrangements with direct, indirect and other market participants, as well as market conditions, including consideration of competitor pricing. Rebates and discounts are estimated based on contractual terms, historical experience, patient outcomes, trend analysis and projected market conditions in the various markets served. A significant portion of the liability related to rebates is from the sale of the Company's pharmaceutical products within the U.S., primarily the Managed Care, Medicare and Medicaid programs, which amounted to $12.3 billion and $11.5 billion as of December 29, 2024 and December 31, 2023, respectively. The Company evaluates market conditions for products or groups of products primarily through the analysis of wholesaler and other third-party sell-through and market research data, as well as internally generated information.
Sales returns are estimated and recorded based on historical sales and returns information. Products that have lost patent exclusivity, or that otherwise exhibit unusual sales or return patterns due to dating, competition or other marketing matters are specifically investigated and analyzed as part of the accounting for sales return accruals.
Sales returns allowances represent a reserve for products that may be returned due to expiration, destruction in the field, or in specific areas, product recall. In accordance with the Company’s accounting policies, the Company generally issues credit to customers for returned goods. The Company’s sales returns reserves are accounted for in accordance with the U.S. GAAP guidance for revenue recognition when right of return exists. Sales returns reserves are recorded at full sales value. Sales returns in the Innovative Medicine segment are almost exclusively not resalable. Sales returns for certain franchises in the MedTech segment are typically resalable but are not material. The Company infrequently exchanges products from inventory for returned products. The sales returns reserve for the total Company has been approximately 1.0% of annual net trade sales during each of the fiscal years 2024, 2023 and 2022.
Promotional programs, such as product listing allowances are recorded in the same period as related sales and include
volume-based sales incentive programs. Volume-based incentive programs are based on the estimated sales volumes for the incentive period and are recorded as products are sold. These arrangements are evaluated to determine the appropriate amounts to be deferred or recorded as a reduction of revenue. The Company also earns profit-share payments through collaborative arrangements of certain products, which are included in sales to customers. Profit-share payments were less than 2.0% of the total revenues in the fiscal year 2024 and 2023, respectively, and less than 3.0% of total revenues in the fiscal year 2022 and are included in sales to customers.
See Note 17 to the Consolidated Financial Statements for further disaggregation of revenue.
Shipping and handling
Shipping and handling
Shipping and handling costs incurred were $0.9 billion, $0.9 billion and $0.8 billion in fiscal years 2024, 2023 and 2022, respectively, and are included in selling, marketing and administrative expense. The amount of revenue received for shipping and handling is less than 1.0% of sales to customers for all periods presented.
Inventories
Inventories
Inventories are stated at the lower of cost or net realizable value determined by the first-in, first-out method.
Intangible assets and goodwill
Intangible assets and goodwill
The authoritative literature on U.S. GAAP requires that goodwill and intangible assets with indefinite lives be assessed annually for impairment. The Company completed its annual impairment test for 2024 in the fiscal fourth quarter. Future impairment tests will be performed annually in the fiscal fourth quarter, or sooner if warranted. In-process research and development purchased as part of a business combination is accounted for as an indefinite lived intangible asset until the underlying project is completed, at which point the intangible asset will be accounted for as a definite lived intangible asset. If warranted the purchased in-process research and development could be written off or partially impaired depending on the underlying program.
Intangible assets that have finite useful lives continue to be amortized over their useful lives and are reviewed for impairment when warranted by economic conditions. See Note 5 for further details on Intangible Assets and Goodwill.
Financial instruments
Financial instruments
As required by U.S. GAAP, all derivative instruments are recorded on the balance sheet at fair value. Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement determined using assumptions that market participants would use in pricing an asset or liability. The authoritative literature establishes a three-level hierarchy to prioritize the inputs used in measuring fair value, with Level 1 having the highest priority and Level 3 having the lowest. Changes in the fair value of derivatives are recorded each period in current earnings or other comprehensive income, depending on whether the derivative is designated as part of a hedge transaction, and if so, the type of hedge transaction.
The Company documents all relationships between hedged items and derivatives. The overall risk management strategy includes reasons for undertaking hedge transactions and entering into derivatives. The objectives of this strategy are: (1) minimize foreign currency exposure’s impact on the Company’s financial performance; (2) protect the Company’s cash flow from adverse movements in foreign exchange rates; (3) ensure the appropriateness of financial instruments; and (4) manage the enterprise risk associated with financial institutions. See Note 6 for additional information on Financial Instruments.
Leases
Leases
The Company determines whether an arrangement is a lease at contract inception by establishing if the contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Right of Use (ROU) Assets and Lease Liabilities for operating leases are included in Other assets, Accrued liabilities, and Other liabilities on the consolidated balance sheet. The ROU Assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Commitments under finance leases are not significant, and are included in Property, plant and equipment, Loans and notes payable, and Long-term debt on the consolidated balance sheet.
ROU Assets and Lease Liabilities are recognized at the lease commencement date based on the present value of all minimum lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments, when the implicit rate is not readily determinable. Lease terms may include options to extend or terminate the lease. These options are included in the lease term when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. The Company has elected the following policy elections on adoption: use of portfolio approach on leases of assets under master service agreements, exclusion of short term leases on the balance sheet, and not separating lease and non-lease components.
The Company primarily has operating lease for space, vehicles, manufacturing equipment and data processing equipment. The ROU asset pertaining to leases from continuing operations was $1.1 billion and $1.0 billion in fiscal years 2024 and 2023, respectively. The lease liability from continuing operations was $1.2 billion and $1.1 billion in fiscal years 2024 and 2023, respectively. The operating lease costs from continuing operations were $0.2 billion in fiscal years 2024, 2023 and 2022. Cash paid for amounts included in the measurement of lease liabilities from continuing operations were $0.2 billion in fiscal years 2024, 2023 and 2022.
Product liability
Product liability
Accruals for product liability claims are recorded, on an undiscounted basis, when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on existing information and actuarially determined estimates where applicable. The accruals are adjusted periodically as additional information becomes available. The Company accrues an estimate of the legal defense costs needed to defend each matter when those costs are probable and can be reasonably estimated. To the extent adverse verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated.
The Company has self insurance through a wholly-owned captive insurance company. In addition to accruals in the self insurance program, claims that exceed the insurance coverage are accrued when losses are probable and amounts can be reasonably estimated.
Research and development
Research and development
Research and development expenses are expensed as incurred in accordance with ASC 730, Research and Development. Upfront and milestone payments made to third parties in connection with research and development collaborations are expensed as incurred up to the point of regulatory approval. Payments made to third parties subsequent to regulatory approval are capitalized and amortized over the remaining useful life of the related product. Amounts capitalized for such payments are included in other intangibles, net of accumulated amortization.
The Company enters into collaborative arrangements, typically with other pharmaceutical or biotechnology companies, to develop and commercialize drug candidates or intellectual property. These arrangements typically involve two (or more) parties who are active participants in the collaboration and are exposed to significant risks and rewards dependent on the commercial success of the activities. These collaborations usually involve various activities by one or more parties, including research and development, marketing and selling and distribution. Often, these collaborations require upfront, milestone and royalty or profit share payments, contingent upon the occurrence of certain future events linked to the success of the asset in development. Amounts due from collaborative partners related to development activities are generally reflected as a reduction of research and development expense because the performance of contract development services is not central to the Company’s operations. In general, the income statement presentation for these collaborations is as follows:
Nature/Type of CollaborationStatement of Earnings Presentation
Third-party sale of product & profit share payments receivedSales to customers
Royalties/milestones paid to collaborative partner (post-regulatory approval)*Cost of products sold
Royalties received from collaborative partnerOther income (expense), net
Upfront payments & milestones paid to collaborative partner (pre-regulatory approval)Research and development expense
Research and development payments to collaborative partnerResearch and development expense
Research and development payments received from collaborative partner or government entityReduction of Research and development expense
*    Milestones are capitalized as intangible assets and amortized to cost of products sold over the useful life.
For all years presented, there was no individual project that represented greater than 5% of the total annual consolidated research and development expense other than the acquired in-process research & development expense of $1.25 billion to secure the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition) in fiscal year 2024.
The Company has a number of products and compounds developed in collaboration with strategic partners including XARELTO, co-developed with Bayer HealthCare AG, IMBRUVICA, developed in collaboration and co-marketed with Pharmacyclics LLC, an AbbVie company and CARVYKTI, licensed and developed in collaboration with Legend Biotech USA Inc. and Legend Biotech Ireland Limited.
Separately, the Company has a number of licensing arrangements for products and compounds including DARZALEX, licensed from Genmab A/S.
Advertising
Advertising
Costs associated with advertising are expensed in the year incurred and are included in selling, marketing and administrative expenses. Advertising expenses worldwide, which comprised television, radio, print media and Internet advertising, were $0.6 billion, $0.5 billion and $0.7 billion in fiscal years 2024, 2023 and 2022, respectively.
Income taxes
Income taxes
Income taxes are recorded based on amounts refundable or payable for the current year and include the results of any difference between U.S. GAAP accounting and tax reporting, recorded as deferred tax assets or liabilities. The Company estimates deferred tax assets and liabilities based on enacted tax regulations and rates. Future changes in tax laws and rates may affect recorded deferred tax assets and liabilities in the future.
The Company has unrecognized tax benefits for uncertain tax positions. The Company follows U.S. GAAP which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Management believes that changes in these estimates would not have a material effect on the Company's results of operations, cash flows or financial position.
In 2017, the United States enacted into law new U.S. tax legislation, the U.S. Tax Cuts and Jobs Act (TCJA). This law included provisions for a comprehensive overhaul of the corporate income tax code, including a reduction of the statutory corporate tax rate from 35% to 21%, effective on January 1, 2018. The TCJA included a provision for a tax on all previously undistributed earnings of U.S. companies located in foreign jurisdictions. Undistributed earnings in the form of cash and cash equivalents were taxed at a rate of 15.5% and all other earnings were taxed at a rate of 8.0%. This tax is payable over 8 years and will not accrue interest. These payments began in fiscal year 2018 and will continue through 2025. The final payment of $2.5 billion will be made in fiscal year 2025.
The TCJA also includes provisions for a tax on global intangible low-taxed income (GILTI). GILTI is described as the excess of a U.S. shareholder’s total net foreign income over a deemed return on tangible assets, as provided by the TCJA. In January 2018, the FASB issued guidance that allows companies to elect as an accounting policy whether to record the tax effects of GILTI in the period the tax liability is generated (i.e., “period cost”) or provide for deferred tax assets and liabilities related to basis differences that exist and are expected to affect the amount of GILTI inclusion in future years upon reversal (i.e., “deferred method”). The Company has elected to account for GILTI under the deferred method. The deferred tax amounts recorded are based on the evaluation of temporary differences that are expected to reverse as GILTI is incurred in future periods.
The Company has recorded deferred tax liabilities on all undistributed earnings prior to December 31, 2017 from its international subsidiaries. The Company has not provided deferred taxes on the undistributed earnings subsequent to January 1, 2018 from certain international subsidiaries where the earnings are considered to be indefinitely reinvested. The Company intends to continue to reinvest these earnings in those international operations. If the Company decides at a later date to repatriate these earnings to the U.S., the Company would be required to provide for the net tax effects on these amounts. The Company estimates that the tax effect of this repatriation would be approximately $0.5 billion under currently enacted tax laws and regulations and at current currency exchange rates. This amount does not include the possible benefit of U.S. foreign tax credits, which may substantially offset this cost.
Net earnings per share
Net earnings per share
Basic earnings per share is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities were exercised or converted into common stock using the treasury stock method.
Use of estimates
Use of estimates
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported. Estimates are used when accounting for sales discounts, rebates, allowances and incentives, product liabilities, income taxes, withholding taxes, depreciation, amortization, employee benefits, contingencies and intangible asset and liability valuations. Actual results may or may not differ from those estimates.
The Company follows the provisions of U.S. GAAP when recording litigation related contingencies. A liability is recorded when a loss is probable and can be reasonably estimated. The best estimate of a loss within a range is accrued; however, if no estimate in the range is better than any other, the minimum amount is accrued.
Supplier finance program obligations
Supplier finance program obligations
The Company has agreements for supplier finance programs with third-party financial institutions. These programs provide participating suppliers the ability to finance payment obligations from the Company with the third-party financial institutions. The Company is not a party to the arrangements between the suppliers and the third-party financial institutions. The Company’s obligations to its suppliers, including amounts due, and scheduled payment dates (which have general payment terms of 90 days), are not affected by a participating supplier’s decision to participate in the program.
Annual closing date
Annual closing date
The Company follows the concept of a fiscal year, which ends on the Sunday nearest to the end of the month of December. Normally each fiscal year consists of 52 weeks, but every five or six years the fiscal year consists of 53 weeks, and therefore includes additional shipping days, as was the case in fiscal year 2020, and will be the case again in fiscal year 2026.
v3.25.0.1
Summary of significant accounting policies (Tables)
 12 Months Ended
Dec. 29, 2024
Accounting Policies [Abstract]  
Estimated Useful Lives of Assets
Property, plant and equipment are stated at cost. The Company utilizes the straight-line method of depreciation over the estimated useful lives of the assets:
Building and building equipment
30 years
Land and leasehold improvements
10 - 20 years
Machinery and equipment
2 - 13 years
Supplier Finance Program
The rollforward of the Company's valid obligations under the program were as follows:
2024
(Dollars in Millions)
Confirmed obligations - beginning of the year$704
Invoices confirmed during the year3,048
Confirmed invoices paid during the year2,964
Confirmed obligations - end of the year$788
v3.25.0.1
Cash, cash equivalents and current marketable securities (Tables)
 12 Months Ended
Dec. 29, 2024
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalent Composition
At the end of the fiscal year 2024 and 2023, cash, cash equivalents and current marketable securities comprised:
(Dollars in Millions)2024
Carrying
 Amount		Unrecognized
Gain		Estimated
 Fair Value		Cash & Cash
Equivalents		Current
Marketable
Securities
Cash$2,918—2,9182,918—
Non-U.S. Sovereign Securities(1)
120—120—120
U.S. Reverse repurchase agreements7,100—7,1007,100—
Money market funds6,123—6,1236,123—
Time deposits(1)
1,045—1,0451,045—
Subtotal $17,306—17,30617,186120
U.S. Gov't Securities$6,81516,8166,79620
Other Sovereign Securities176—1768393
Corporate and other debt securities224—22440184
Subtotal available for sale(2)
$7,21517,2166,919297
Total cash, cash equivalents and current marketable securities
$24,105417
(Dollars in Millions)2023
Carrying AmountUnrecognized
Loss		Estimated Fair ValueCash & Cash EquivalentsCurrent Marketable Securities
Cash$3,340—3,3403,340—
Non-U.S. Sovereign Securities(1)
522—522174348
U.S. Reverse repurchase agreements4,377—4,3774,377—
Corporate debt securities(1)
338—338189149
Money market funds4,814—4,8144,814—
Time deposits(1)
662—662662—
Subtotal 14,053—14,05313,556497
U.S. Gov't Securities$8,562—8,5628,259303
U.S. Gov't Agencies71(1)70—70
Other Sovereign Securities5—514
Corporate and other debt securities23723743194
Subtotal available for sale(2)
$8,875(1)8,8748,303571
Total cash, cash equivalents and current marketable securities
$21,8591,068
(1)Held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings.
(2)Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.
Contractual Maturities of Available for Sale Securities
The contractual maturities of the available for sale debt securities at December 29, 2024 are as follows:
(Dollars in Millions)Cost BasisFair Value
Due within one year$7,2047,205
Due after one year through five years1111
Due after five years through ten years——
Total debt securities$7,2157,216
v3.25.0.1
Inventories (Tables)
 12 Months Ended
Dec. 29, 2024
Inventory Disclosure [Abstract]  
Summary of Inventories
At the end of fiscal years 2024 and 2023, inventories comprised:
(Dollars in Millions)20242023
Raw materials and supplies$2,3372,355
Goods in process2,8151,952
Finished goods7,2926,874
Total inventories$12,44411,181
v3.25.0.1
Property, plant and equipment (Tables)
 12 Months Ended
Dec. 29, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment at Cost and Accumulated Depreciation
At the end of fiscal years 2024 and 2023, property, plant and equipment at cost and accumulated depreciation were:
(Dollars in Millions)20242023
Land and land improvements$718795
Buildings and building equipment12,31712,375
Machinery and equipment29,44428,979
Construction in progress6,2895,627
Total property, plant and equipment, gross$48,76847,776
Less accumulated depreciation28,25027,878
Total property, plant and equipment, net$20,51819,898
v3.25.0.1
Intangible assets and goodwill (Tables)
 12 Months Ended
Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill
At the end of fiscal years 2024 and 2023, the gross and net amounts of intangible assets were:
(Dollars in Millions)20242023
Intangible assets with definite lives:  
Patents and trademarks — gross(1)
$44,69540,417
Less accumulated amortization(26,124)(24,808)
Patents and trademarks — net$18,57115,609
Customer relationships and other intangibles — gross$20,31020,322
Less accumulated amortization(13,544)(12,685)
Customer relationships and other intangibles — net(2)
$6,7667,637
Intangible assets with indefinite lives:  
Trademarks(1)
— 1,714
Purchased in-process research and development12,2819,215
Total intangible assets with indefinite lives$12,28110,929
Total intangible assets — net$37,61834,175
(1)In September 2024, the Company announced changes to its MedTech brand identity and the $1.7 billion of trademarks associated with the DePuy Synthes business were reclassified from indefinite lived to definite lived and will be amortized over a 25 year period.
(2)The majority is comprised of customer relationships
Goodwill
Goodwill as of December 29, 2024 and December 31, 2023, as allocated by segment of business, was as follows:
(Dollars in Millions)Innovative
Medicine		MedTechTotal
Goodwill at January 1, 2023$10,18425,86336,047
Goodwill, related to acquisitions———
Goodwill, related to divestitures———
Currency translation/other223288*511
Goodwill at December 31, 202310,40726,15136,558
Goodwill, related to acquisitions6407,5698,209
Goodwill, related to divestitures—(56)(56)
Currency translation/other(355)(156)(511)
Goodwill at December 29, 2024$10,69233,50844,200
*    Includes purchase price allocation adjustments for Abiomed
Intangible Asset Amortization Expense
The estimated amortization expense related to intangible assets for approved products, before tax, for the five succeeding years is approximately:
(Dollars in Millions)
20252026202720282029
$4,0003,4002,8002,2002,200
v3.25.0.1
Fair value measurements (Tables)
 12 Months Ended
Dec. 29, 2024
Fair Value Disclosures [Abstract]  
Summary of Derivative Activity
The following table is a summary of the activity related to derivatives and hedges for the fiscal years ended December 29, 2024 and December 31, 2023, net of tax:
December 29, 2024December 31, 2023
(Dollars in Millions)SalesCost of
Products
 Sold		R&D
 Expense		Interest
(Income)
 Expense		Other
(Income)
Expense		SalesCost of
Products
Sold		R&D
Expense		Interest
(Income)
Expense		Other
(Income)
Expense
The effects of fair value, net investment and cash flow hedging:
Gain (Loss) on fair value hedging relationship:
Interest rate swaps contracts:
Hedged items$———64————168—
Derivatives designated as hedging instruments———(64)————(168)—
Gain (Loss) on net investment hedging relationship:
Cross currency interest rate swaps contracts:
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing$———148————130—
Amount of gain or (loss) recognized in AOCI———148————130—
Gain (Loss) on cash flow hedging relationship:
Forward foreign exchange contracts:
Amount of gain or (loss) reclassified from AOCI into income242633—67186(37)—8
Amount of gain or (loss) recognized in AOCI(7)(156)80—2110447(18)—9
Cross currency interest rate swaps contracts:
Amount of gain or (loss) reclassified from AOCI into income———247————275—
Amount of gain or (loss) recognized in AOCI$———(597)————(156)—
As of December 29, 2024 and December 31, 2023, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges:
Line item in the Consolidated Balance Sheet
in which the hedged item is included		Carrying Amount of the Hedged LiabilityCumulative Amount of Fair Value Hedging
Adjustment Included in the Carrying
Amount of the Hedged Liability
(Dollars in Millions)December 29, 2024December 31, 2023December 29, 2024December 31, 2023
Long-term Debt$7,935$8,862$(1,132)$(1,216)
Schedule of Effect of Derivatives not Designated as Hedging Instruments
The following table is the effect of derivatives not designated as hedging instrument for the fiscal years ended
December 29, 2024 and December 31, 2023:
(Dollars in Millions)Location of Gain /(Loss)
Recognized in Income on
Derivative		Gain/(Loss)
Recognized In
Income on Derivative
Derivatives Not Designated as Hedging InstrumentsDecember 29, 2024December 31, 2023
Foreign Exchange ContractsOther (income) expense$8(60)
Schedule of Effect of Net Investment Hedges
The following table is the effect of net investment hedges for the fiscal years ended December 29, 2024 and
December 31, 2023:
Gain/(Loss)
Recognized In
Accumulated OCI		Location of Gain or
(Loss) Reclassified
from Accumulated Other Comprehensive Income Into Income		Gain/(Loss)
Reclassified from
Accumulated OCI
Into Income
(Dollars in Millions)December 29, 2024December 31, 2023December 29, 2024December 31, 2023
Debt$282(131)Interest (income) expense——
Cross Currency interest rate swaps$955642Interest (income) expense——
Summary of Activity Related to Equity Investments
The following table is a summary of the activity related to equity investments for the fiscal years ended December 29, 2024 and December 31, 2023:
December 31, 2023December 29, 2024
(Dollars in Millions)Carrying Value
Changes in Fair
Value Reflected in
Net Income(1)
Sales/
Purchases/
Other(2)
Carrying ValueNon-Current
Other Assets
Equity Investments with readily determinable value *$4,473(17)(4,005)451451
Equity Investments without readily determinable value$696(197)274773773
January 1, 2023December 31, 2023
(Dollars in Millions)Carrying Value
Changes in Fair
Value Reflected in
Net Income(1)
Sales/
Purchases/
Other(2)
Carrying ValueNon-Current
Other Assets
Equity Investments with readily determinable value *$576(368)4,2654,4734,473
Equity Investments without readily determinable value$613182696696
(1)Recorded in Other Income/Expense
(2)Other includes impact of currency
*    The December 31, 2023 balance includes the 9.5% remaining stake in Kenvue. A debt-for-equity exchange was completed in the fiscal second quarter of 2024.
Financial Assets and Liabilities at Fair Value
The Company’s significant financial assets and liabilities measured at fair value as of the fiscal year ended December 29, 2024 and December 31, 2023 were as follows:
20242023
(Dollars in Millions)Level 1Level 2Level 3Total
Total(1)
Derivatives designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—660—660539
Interest rate contracts(2)
—1,484—1,484988
Total$—2,144—2,1441,527
Liabilities:     
Forward foreign exchange contracts—794—794624
Interest rate contracts(2)
—3,753—3,7535,338
Total$—4,547—4,5475,962
Derivatives not designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—50—5064
Liabilities:     
Forward foreign exchange contracts—17—1775
Available For Sale Other Investments:
Equity investments(3)
451——4514,473
Debt securities(4)
—7,216—7,2168,874
Other Liabilities
Contingent Consideration(5)
$1,2171,2171,092

Gross to Net Derivative Reconciliation20242023
(Dollars in Millions)
Total Gross Assets$2,1941,591
Credit Support Agreements (CSA)(2,172)(1,575)
Total Net Asset2216
Total Gross Liabilities4,5646,037
Credit Support Agreements (CSA)(4,412)(5,604)
Total Net Liabilities$152433
Summarized information about changes in liabilities for contingent consideration is as follows:
202420232022
(Dollars in Millions)
Beginning Balance$1,0921,120533
Changes in estimated fair value 8829(194)
Additions(6)
112—792
Payments/Other(75)(57)(11)
Ending Balance(5)
$1,2171,0921,120
(1)2023 assets and liabilities are all classified as Level 2 with the exception of equity investments of $4,473 million, which are classified as Level 1 and contingent consideration of $1,092 million, classified as Level 3.
(2)Includes cross currency interest rate swaps and interest rate swaps.
(3)Classified as non-current other assets.
(4)Classified as cash equivalents and current marketable securities.
(5)Includes $1,217 million, $1,092 million and $1,116 million, classified as non-current other liabilities as of December 29, 2024,
December 31, 2023 and January 1, 2023, respectively. Includes $4 million classified as current liabilities as of January 1, 2023.
(6)In fiscal year 2024, the Company recorded $105 million of contingent consideration related to Proteologix. In fiscal year 2022, the Company recorded $704 million of contingent consideration related to Abiomed.
v3.25.0.1
Borrowings (Tables)
 12 Months Ended
Dec. 29, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The components of long-term debt are as follows:
(Dollars in Millions)2024 Effective
Rate
%		 2023 Effective
Rate
%
0.650% Notes due 2024
(750MM Euro 1.1090)(3)
$—— %$831
(3)
0.68 %
5.50% Notes due 2024
(500MM GBP 1.2756)(3)
——  637
(3)
6.75 
2.625% Notes due 2025
7502.63 7502.63 
0.55% Notes due 2025
9990.57 9500.57 
2.46% Notes due 2026
1,9992.47 1,9972.47 
2.95% Notes due 2027
9272.96 9002.96 
0.95% Notes due 2027
1,4580.96 1,4190.96 
1.150% Notes due 2028
(750MM Euro 1.0401)(2)/(750MM Euro 1.1090)(3)
777
(2)
1.21 828
(3)
1.21 
2.90% Notes due 2028
1,4982.91 1,4972.91 
6.95% Notes due 2029
298 7.14  298 7.14 
4.80% Debentures due 2029
1,1464.83 —— 
1.30% Notes due 2030
1,6461.30 1,6301.30 
4.90% Debentures due 2031
1,1454.92 —— 
3.20% Debenture due 2032
(700M EUR 1.0401)(2)
725
(2)
3.21 —— 
4.95% Debentures due 2033
499 4.95  499 4.95 
4.375% Notes due 2033
8544.24 8544.24 
4.95% Debentures due 2034
8464.96 —— 
1.650% Notes due 2035
(1.5B Euro 1.0401)(2)/(1.5B Euro 1.1090)(3)
1,550
(2)
1.68 1,652
(3)
1.68 
3.35% Debentures due 2036
(800MM EUR 1.0401)(2)
827
(2)
3.37 —— 
3.587% Notes due 2036
8693.59 8643.59 
5.95% Notes due 2037
994 5.99  994 5.99 
3.625% Notes due 2037
1,3583.64 1,3573.64 
5.85% Debentures due 2038
697 5.85  697 5.85 
3.40% Notes due 2038
9933.42 9933.42 
4.50% Debentures due 2040
541 4.63  541 4.63 
2.10% Notes due 2040
8452.14 8492.14 
4.85% Notes due 2041
2974.89 2974.89 
4.50% Notes due 2043
4964.52 4964.52 
3.55% Debentures due 2044
(1B EUR 1.0401)(2)
1,030
(2)
3.58 —— 
3.73% Notes due 2046
1,9783.74 1,9773.74 
3.75% Notes due 2047
8223.76 8323.76 
3.500% Notes due 2048
7443.52 7433.52 
2.250% Notes due 2050
8082.29 8262.29 
5.25% Debentures due 2054
8435.26 —— 
2.450% Notes due 2060
1,0582.49 1,0732.49 
Other83 —  69 — 
Subtotal32,400
(4)
3.36 %
(1)
27,350
(4)
2.98 %
(1)
Less current portion1,749   1,469  
Total long-term debt$30,651   $25,881  
(1)Weighted average effective rate.
(2)Translation rate at December 29, 2024.
(3)Translation rate at December 31, 2023.
(4)The excess of the carrying value over the fair value of debt was $2.0 billion and $1.0 billion at the end of fiscal year 2024 and fiscal year 2023, respectively.
Aggregate Maturities of Long Term Obligations
Aggregate maturities of long-term debt obligations commencing in 2025 are:
(Dollars in Millions)
20252026202720282029After 2029
$1,7491,9992,3852,2751,44422,548
v3.25.0.1
Income taxes (Tables)
 12 Months Ended
Dec. 29, 2024
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The provision for taxes on income on continuing operations consists of:
(Dollars in Millions)202420232022
Currently payable:
U.S. taxes$2,2002,7052,274
International taxes2,6043,0902,295
Total currently payable4,8045,7954,569
Deferred:
U.S. taxes(2,539)(3,440)(1,990)
International taxes356(619)410
Total deferred(2,183)(4,059)(1,580)
Provision for taxes on income$2,6211,7362,989
Comparison of Income Taxes at Statutory Rate and Company's Effective Tax Rate
A comparison of income tax expense at the U.S. statutory rate of 21% in fiscal years 2024, 2023 and 2022, to the Company’s effective tax rate is as follows:
(Dollars in Millions)202420232022
U.S. $(458)(2,033)4,606
International17,14517,09514,753
Earnings before taxes on income:$16,68715,06219,359
Tax rates:
U.S. statutory rate21.0 %21.0 21.0 
International operations(1)
(5.2)(8.1)(5.0)
U.S. tax settlements1.0 (3.0)— 
U.S. taxes on international income(2)
(2.6)(0.3)(1.1)
U.S. state taxes1.5 1.0 0.3 
Tax benefits on share-based compensation(0.6)(0.8)(1.4)
All other0.6 1.7 1.6 
Effective Rate15.7 %11.5 15.4 
(1)International operations reflect the impacts of operations in jurisdictions with statutory tax rates different than the U.S., particularly Ireland, Switzerland, and Belgium, which is a favorable impact on the effective tax rate as compared with the U.S. statutory rate.
(2)Includes the net impact of the GILTI tax, the Foreign-Derived Intangible Income deduction and other foreign income that is taxable under the U.S. tax code as well as related foreign tax credits.
Temporary Differences and Carryforwards
Temporary differences and carryforwards at the end of fiscal years 2024 and 2023 were as follows:
2024 Deferred Tax2023 Deferred Tax
(Dollars in Millions)AssetLiabilityAssetLiability
Employee related obligations$372586
Stock based compensation717686
Depreciation of property, plant and equipment(833)(902)
Goodwill and intangibles(3,261)(1,252)
R&D capitalized for tax4,3983,595
Reserves & liabilities4,4443,816
Inventory related371359
Operating loss carryforwards2,2982,145
Undistributed foreign earnings1,931(1,492)1,801(1,695)
Global intangible low-taxed income(1,589)(2,731)
Miscellaneous international1,212831
Miscellaneous U.S. 1,083(4)
Total deferred income taxes16,826(7,175)13,819(6,584)
Valuation allowances(1,638)(1,149)
Total deferred income taxes net of valuation allowances15,188(7,175)12,670(6,584)
Summary of Valuation Allowance
The following table summarizes the activity related to valuation allowances for continuing operations:
(Dollars in Millions)20242023
Beginning of year$1,149775
Provision451355
Utilization—(116)
Foreign currency translation(46)25
Net acquisitions / (dispositions/liquidations)84110
End of year$1,638$1,149
Schedule of Unrecognized Tax Benefits Roll Forward
The following table summarizes the activity related to unrecognized tax benefits for continuing operations:
(Dollars in Millions)202420232022
Beginning of year$2,4853,7163,210
Increases related to current year tax positions176239523
Increases related to prior period tax positions129244143
Decreases related to prior period tax positions(147)(781)(148)
Settlements(583)(880)(1)
Lapse of statute of limitations(40)(53)(11)
End of year$2,0202,4853,716
v3.25.0.1
Employee related obligations (Tables)
 12 Months Ended
Dec. 29, 2024
Compensation Related Costs [Abstract]  
Employee Related Obligations
At the end of fiscal 2024 and fiscal 2023, employee related obligations recorded on the Consolidated Balance Sheets were:
(Dollars in Millions)20242023
Pension benefits$2,9683,129
Postretirement benefits1,9201,963
Postemployment benefits2,9102,527
Deferred compensation4968
Total employee obligations7,8477,687
Less current benefits payable592538
Employee related obligations — non-current$7,2557,149
v3.25.0.1
Pensions and other benefit plans (Tables)
 12 Months Ended
Dec. 29, 2024
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost
Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans for 2024, 2023 and 2022 include the following components:
Retirement PlansOther Benefit Plans
(Dollars in Millions)202420232022202420232022
Service cost$9488931,319277264320
Interest cost1,4021,437908209214104
Expected return on plan assets(2,560)(2,716)(2,756)(7)(7)(8)
Amortization of prior service cost (184)(184)(184)(2)(2)(5)
Recognized actuarial losses (gains)174(199)6505323122
Curtailments and settlements(2)931—(5)—
Net periodic benefit cost (credit)$(222)(676)(62)530487533
Rates Used to Develop Actuarial Present Value of Projected Benefit Obligation
The following table represents the weighted-average actuarial assumptions:
Retirement PlansOther Benefit Plans
Worldwide Benefit Plans202420232022202420232022
Net Periodic Benefit Cost
Service cost discount rate4.39 %4.85 2.46 5.09 5.40 2.59 
Interest cost discount rate4.95 %5.25 2.80 5.12 5.43 2.64 
Rate of increase in compensation levels3.70 %3.71 4.02 4.22 4.22 4.21 
Expected long-term rate of return on plan assets7.25 %7.21 7.25 
Benefit Obligation
Discount rate4.95 %4.58 5.01 5.54 5.11 5.42 
Rate of increase in compensation levels3.70 %3.69 4.00 4.22 4.22 4.21 
Assumed Health Care Cost Trend Rates
The following table displays the assumed healthcare cost trend rates, for all individuals:
Healthcare Plans20242023
Healthcare cost trend rate assumed for next year9.33 %13.90 %
Rate to which the cost trend rate is assumed to decline (ultimate trend)4.02 %4.00 %
Year the rate reaches the ultimate trend rate2048 2048 
Schedule of Net Funded Status
The following table sets forth information related to the benefit obligation and the fair value of plan assets at fiscal year-end 2024 and 2023 for the Company’s defined benefit retirement plans and other post-retirement plans:
Retirement PlansOther Benefit Plans
(Dollars in Millions)2024202320242023
Change in Benefit Obligation
Projected benefit obligation — beginning of year$31,74429,3904,1084,192
Service cost948893277264
Interest cost1,4021,437209214
Plan participant contributions7573——
Amendments—(6)——
Actuarial (gains) losses(1)
(1,245)2,068398469
Divestitures & acquisitions(2)
—(352)—1
Curtailments, settlements & restructuring(121)(238)—(332)
Benefits paid from plan(3)
(1,801)(2,122)(556)(702)
Effect of exchange rates(685)601(11)2
Projected benefit obligation — end of year$30,31731,7444,4254,108
Change in Plan Assets
Plan assets at fair value — beginning of year$33,60731,4968678
Actual return (loss) on plan assets2,1133,9511516
Company contributions229268548694
Plan participant contributions7573——
Settlements(114)(176)——
Divestitures & acquisitions(2)
—(509)——
Benefits paid from plan assets(3)
(1,801)(2,122)(556)(702)
Effect of exchange rates(714)626——
Plan assets at fair value — end of year$33,39533,6079386
Funded status — end of year$3,0781,863(4,332)(4,022)
Amounts Recognized in the Company’s Balance Sheet consist of the following:
Non-current assets$6,0464,992——
Current liabilities(136)(119)(453)(416)
Non-current liabilities(2,832)(3,010)(3,879)(3,606)
Total recognized in the consolidated balance sheet — end of year$3,0781,863(4,332)(4,022)
Amounts Recognized in Accumulated Other Comprehensive Income consist of the following:
Net actuarial loss$3,9034,962691354
Prior service cost (credit)(1,051)(1,236)(4)(6)
Unrecognized net transition obligation———
Total before tax effects$2,8523,726687348
Accumulated Benefit Obligations — end of year$28,88330,139
(1)The actuarial (gains)/losses for retirement plans in 2024 and 2023 were primarily driven by changes in the discount rates.
(2)Driven by the Kenvue separation.
(3)The fiscal years 2024 and 2023 includes approximately $400 million and $800 million, respectively, transferred to a group annuity contract issued by a third-party insurer for the U.S. Salaried Pension Plan.
Retirement PlansOther Benefit Plans
(Dollars in Millions)2024202320242023
Amounts Recognized in Net Periodic Benefit Cost and Other Comprehensive Income
Net periodic benefit cost (credit)$(222)(676)530487
Net actuarial (gain) loss(807)711389136
Amortization of net actuarial loss(172)199(53)(22)
Prior service cost (credit)—(2)——
Amortization of prior service (cost) credit18418522
Effect of exchange rates(79)1031—
Total loss/(income) recognized in other comprehensive income, before tax$(874)1,195339116
Total recognized in net periodic benefit cost and other comprehensive income$(1,096)519869603
Information Related to the Benefit Obligation and the Fair Value of Plan Assets
The following table displays the funded status of the Company's U.S. Qualified & Non-Qualified pension plans and international funded and unfunded pension plans at December 31, 2024 and December 31, 2023, respectively:
U.S. PlansInternational Plans
Qualified PlansNon-Qualified PlansFunded PlansUnfunded Plans
(Dollars in Millions)20242023202420232024202320242023
Plan Assets$22,25022,298——11,14511,309——
Projected Benefit Obligation18,14619,1521,9902,03710,06910,431112124
Accumulated Benefit Obligation17,72618,5571,9491,9829,1159,49893102
Over (Under) Funded Status
Projected Benefit Obligation$4,1043,146(1,990)(2,037)1,076878(112)(124)
Accumulated Benefit Obligation4,5243,741(1,949)(1,982)2,0301,811(93)(102)
Projected Future Benefit Payments from Company's Retirement and Other Benefit Plans
The following table displays the projected future benefit payments from the Company’s retirement and other benefit plans:
(Dollars in Millions)202520262027202820292030-2034
Projected future benefit payments
Retirement plans$1,4801,5031,6041,7021,79710,401
Other benefit plans $4644784324454622,537
Projected Future Minimum Contributions to the Company's U.S. and International Unfunded Retirement Plans
The following table displays the projected future minimum contributions to the unfunded retirement plans. These amounts do not include any discretionary contributions that the Company may elect to make in the future.
(Dollars in Millions)202520262027202820292030-2034
Projected future contributions$133135140145150815
Company' Retirement Plan Asset Allocation and Target Allocations
The Company’s retirement plan asset allocation at the end of 2024 and 2023 and target allocations for 2025 are as follows:
Percent of
Plan Assets		Target
Allocation
Worldwide Retirement Plans202420232025
Equity securities55 %58 %54 %
Debt securities45 42 46 
Total plan assets100 %100 %100 %
Schedule of Defined Benefit Plans Disclosures
The following table sets forth the Retirement Plans' investments measured at fair value as of December 31, 2024 and December 31, 2023:
Quoted Prices
in Active
Markets for
Identical Assets		Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs(1)
Investments
Measured at Net
Asset Value
(Level 1)(Level 2)(Level 3)Total Assets
(Dollars in Millions)2024202320242023202420232024202320242023
Short-term investment funds$— 12511829————511841
Government and agency securities——7,8855,985————7,8855,985
Debt instruments——2,3213,899————2,3213,899
Equity securities7,1447,764——————7,1447,764
Commingled funds——5,0044,96737436,1906,67211,23111,682
Other assets——8849128924,0873,2954,3033,436
Investments at fair value$7,144 7,77615,80915,72916513510,2779,96733,39533,607
(1)The activity for the Level 3 assets is not significant for all years presented.
v3.25.0.1
Capital and treasury stock (Tables)
 12 Months Ended
Dec. 29, 2024
Equity [Abstract]  
Changes in Treasury Stock
Changes in treasury stock were:
Treasury Stock
(Amounts in Millions Except Treasury Stock Shares in Thousands)SharesAmount
Balance at January 2, 2022490,878$39,099
Employee compensation and stock option plans(20,007)(3,440)
Repurchase of common stock35,3756,035
Balance at January 1, 2023506,24641,694
Employee compensation and stock option plans(15,521)(2,529)
Repurchase of common stock31,0855,079
Kenvue share exchange (Note 21)190,955 31,418
Balance at December 31, 2023712,76575,662
Employee compensation and stock option plans(15,027)(2,389)
Repurchase of common stock15,1832,407
Balance at December 29, 2024712,921$75,680
v3.25.0.1
Accumulated other comprehensive income (loss) (Tables)
 12 Months Ended
Dec. 29, 2024
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income
Components of other comprehensive income (loss) consist of the following:
(Dollars in Millions)Foreign
Currency
Translation		Gain/
(Loss) On
Securities		Employee
Benefit Plans		Gain/
(Loss) On
Derivatives
& Hedges		Total
Accumulated
Other
Comprehensive
Income (Loss)
January 2, 2022$(10,017)(3)(2,702)(336)(13,058)
Net 2022 changes(1,796)(24)1,80510691
January 1, 2023(11,813)(27)(897)(230)(12,967)
Net 2023 changes(3,221)26(1,399)(147)(4,741)
Kenvue Separation/IPO4,885—296*—5,181
December 31, 2023(10,149)(1)(2,000)(377)(12,527)
Net 2024 changes1,7082449(1,373)786
December 29, 2024$(8,441)1(1,551)(1,750)(11,741)
v3.25.0.1
Earnings per share (Tables)
 12 Months Ended
Dec. 29, 2024
Earnings Per Share [Abstract]  
Reconciliation of Basic Net Earnings per Share to Diluted Net Earnings per Share
The following is a reconciliation of basic net earnings per share to diluted net earnings per share for the fiscal years ended December 29, 2024, December 31, 2023 and January 1, 2023:
(In Millions Except Per Share Amounts)202420232022
Basic net earnings per share from continuing operations$5.84 5.266.23
Basic net earnings per share from discontinued operations— 8.620.60
Total net earnings per share - basic5.8413.886.83
Average shares outstanding — basic2,407.32,533.52,625.2
Potential shares exercisable under stock option plans77.794.1140.1
Less: shares repurchased under treasury stock method(55.6)(67.2)(101.4)
Adjusted average shares outstanding — diluted2,429.42,560.42,663.9
Diluted net earnings per share from continuing operations5.79 5.206.14
Diluted net earnings per share from discontinuing operations— 8.520.59
Total net earnings per share - diluted$5.79 13.726.73
(Shares in Millions)
The diluted net earnings per share calculation excluded the following number of shares related to stock options, as the exercise price of these options was greater than the average market value of the Company’s stock. 54.1 43.0 0.0
v3.25.0.1
Common stock, stock option plans and stock compensation agreements (Tables)
 12 Months Ended
Dec. 29, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule Valuation Assumptions
The average fair value of options granted was $27.67, $27.85 and $23.23, in fiscal years 2024, 2023 and 2022, respectively. The fair value was estimated based on the weighted average assumptions of:
202420232022
Risk-free rate4.15 %3.74 %1.98 %
Expected volatility17.85 %17.69 %18.00 %
Expected life (in years)7.07.07.0
Expected dividend yield3.10 %2.90 %2.70 %
Summary of Stock Option Activity
A summary of option activity under the Plan as of December 29, 2024, is presented below:
(Shares in Thousands)Outstanding
Shares		Weighted
Average Exercise
Price		Aggregate
Intrinsic
Value
(Dollars in Millions)
Shares at December 31, 2023112,238$139.88$2,239
Options granted13,917157.92
Options exercised(10,771)107.06
Options canceled/forfeited(2,755)162.45
Shares at December 29, 2024112,629$144.69$1,129
Summary of Options Outstanding
The following table summarizes stock options outstanding and exercisable at December 29, 2024:
(Shares in Thousands)OutstandingExercisable
Exercise Price RangeOptions
Average Life(1)
Weighted
Average
Exercise Price		OptionsWeighted
Average
Exercise Price
$100.06 - $101.87
13,0160.8$101.2913,016$101.29
$115.67 - $129.51
18,2522.6122.4918,252122.49
$131.94 - $151.41
25,6244.6142.8725,624142.87
$157.92 - $162.75
26,3918.6160.334,269162.75
$164.62 - $165.89
29,3466.6165.2913,522164.64
 112,6295.3$144.6974,683$135.72
(1)Average contractual life remaining in years.
Summary of Restricted Share Units
A summary of the restricted share units and performance share units activity under the Plans as of December 29, 2024 is presented below:
(Shares in Thousands)Outstanding
Restricted Share Units		Outstanding
Performance Share Units
Shares at December 31, 202312,9382,037
Granted6,331906
Issued(5,454)(808)
Canceled/forfeited/adjusted(774)(122)
Shares at December 29, 202413,0412,013
v3.25.0.1
Segments of business and geographic areas (Tables)
 12 Months Ended
Dec. 29, 2024
Segment Reporting [Abstract]  
Schedule of Sales by Segment of Business
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
INNOVATIVE MEDICINE
Immunology
U.S.$11,35511,53911,036(1.6)%4.6 
International6,4736,5135,899(0.6)10.4 
Worldwide17,82818,05216,935(1.2)6.6 
REMICADE
U.S.1,0091,1431,417(11.7)(19.3)
U.S. Exports98147204(33.0)(28.0)
International497549722(9.5)(23.9)
Worldwide1,6051,8392,343(12.8)(21.5)
SIMPONI / SIMPONI ARIA
U.S.1,0821,1241,166(3.8)(3.6)
International1,1081,0731,0173.3 5.4 
Worldwide2,1902,1972,184(0.3)0.6 
STELARA
U.S.6,7206,9666,388(3.5)9.0 
International3,6413,8923,335(6.4)16.7 
Worldwide10,36110,8589,723(4.6)11.7 
TREMFYA
U.S.2,4432,1471,84413.7 16.5 
International1,22799982422.8 21.2 
Worldwide3,6703,1472,66816.6 17.9 
OTHER IMMUNOLOGY
U.S.31117(74.1)(33.8)
International000— —
Worldwide31117(74.1)(33.8)
Infectious Diseases
U.S.1,3541,5001,680(9.8)(10.7)
International2,0422,9183,769(30.0)(22.6)
Worldwide3,3964,4185,449(23.1)(18.9)
COVID-19 VACCINE
U.S.00120—*
International1981,1172,059(82.4)(45.8)
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
Worldwide1981,1172,179(82.4)(48.8)
EDURANT / rilpivirine
U.S.313536(10.0)(3.7)
International1,2411,11597211.2 14.8 
Worldwide1,2721,1501,00810.6 14.1 
PREZISTA / PREZCOBIX /
REZOLSTA / SYMTUZA
U.S.1,3111,4461,494(9.4)(3.2)
International401408449(1.7)(9.2)
Worldwide1,7121,8541,943(7.7)(4.6)
OTHER INFECTIOUS DISEASES
U.S.111930(41.0)(34.5)
International203278289(26.7)(3.8)
Worldwide214297318(27.6)(6.7)
Neuroscience
U.S.4,3984,0653,5708.2 13.9 
International2,7183,0763,323(11.6)(7.5)
Worldwide7,1157,1406,893(0.4)3.6 
CONCERTA / methylphenidate
U.S.134230151(41.7)52.5 
International507554493(8.4)12.2 
Worldwide641783644(18.1)21.6 
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
U.S.3,1252,8972,7147.9 6.7 
International1,0971,2181,426(9.9)(14.6)
Worldwide4,2224,1154,1402.6 (0.6)
SPRAVATO
U.S.92958932857.8 79.7 
International1481004648.2 *
Worldwide1,07768937456.4 84.1 
OTHER NEUROSCIENCE
U.S.210349376(39.8)(7.3)
International9651,2041,358(19.8)(11.3)
Worldwide1,1751,5531,734(24.3)(10.4)
Oncology
U.S.10,8548,4626,93028.3 22.1 
International9,9269,1999,0527.9 1.6 
Worldwide20,78117,66115,98317.7 10.5 
CARVYKTI
U.S.86946913385.2*
International9430—**
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
Worldwide96350013392.7*
DARZALEX
U.S.6,5885,2774,21024.8 25.4 
International5,0824,4673,76713.8 18.6 
Worldwide11,6709,7447,97719.8 22.2 
ERLEADA
U.S.1,2821,06596820.3 10.0 
International1,7171,32291329.8 44.8 
Worldwide2,9992,3871,88125.6 26.9 
IMBRUVICA
U.S.1,0201,0511,390(3.0)(24.4)
International2,0182,2142,394(8.8)(7.5)
Worldwide3,0383,2643,784(6.9)(13.7)
TECVAYLI
U.S.4183341225.3 *
International131613**
Worldwide5493951538.8 *
ZYTIGA /abiraterone acetate
U.S.345074(32.2)(32.1)
International5978371,696(28.6)(50.7)
Worldwide6318871,770(28.8)(49.9)
OTHER ONCOLOGY
U.S.643215144*49.3 
International2882692807.1 (3.9)
Worldwide93148442392.5 14.4 
Pulmonary Hypertension
U.S.3,1432,6972,34616.5 15.0 
International1,1401,1171,0712.0 4.3 
Worldwide4,2823,8153,41712.3 11.6 
OPSUMIT
U.S.1,5201,2921,13217.7 14.1 
International664681651(2.4)4.6 
Worldwide2,1841,9731,78310.7 10.6 
UPTRAVI
U.S.1,5111,3261,10413.9 20.1 
International30725521820.1 17.3 
Worldwide1,8171,5821,32214.9 19.7 
OTHER PULMONARY HYPERTENSION
U.S.1127911041.8 (28.6)
International169182202(6.9)(10.3)
Worldwide2812603137.9 (16.7)
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
Cardiovascular / Metabolism / Other
U.S.2,8662,9063,042(1.4)(4.5)
International696765845(9.1)(9.4)
Worldwide3,5623,6713,887(3.0)(5.5)
XARELTO
U.S.2,3732,3652,4730.3 (4.4)
International———— — 
Worldwide2,3732,3652,4730.3 (4.4)
OTHER
U.S.494541569(8.8)(5.0)
International696765845(9.1)(9.4)
Worldwide1,1891,3061,414(8.9)(7.6)
TOTAL INNOVATIVE MEDICINE
U.S.33,97031,16928,6049.0 9.0 
International22,99423,59023,959(2.5)(1.5)
Worldwide56,96454,75952,5634.0 4.2 
MEDTECH
Cardiovascular (1)
U.S.4,5133,6332,16924.2 67.5 
International3,1942,7172,13117.6 27.5 
Worldwide7,7076,3504,30021.4 47.7 
ELECTROPHYSIOLOGY
U.S.2,7382,4582,03611.4 20.7 
International2,5292,2301,90113.4 17.3 
Worldwide5,2674,6883,93712.3 19.1 
ABIOMED(2)
U.S.1,2131,0663113.7 *
International284240—18.2 *
Worldwide1,4961,3063114.5 *
SHOCKWAVE(3)
U.S.442——**
International122——**
Worldwide564——**
OTHER CARDIOVASCULAR(1)
U.S.12010910210.7 6.7 
International2602472305.3 7.3 
Worldwide3803563326.9 7.1 
Orthopaedics
U.S.5,6895,5255,3213.0 3.8 
International3,4703,4173,2671.5 4.6 
Worldwide9,1588,9428,5872.4 4.1 
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
HIPS
U.S.1,0579969436.2 5.6 
International5815645713.0 (1.2)
Worldwide1,6381,5601,5145.0 3.0 
KNEES
U.S.9228968512.9 5.3 
International62355950811.3 10.2 
Worldwide1,5451,4561,3596.1 7.1 
TRAUMA
U.S.2,0131,9491,8823.3 3.6 
International1,0361,0309890.6 4.1 
Worldwide3,0492,9792,8712.3 3.8 
SPINE, SPORTS & OTHER
U.S.1,6961,6841,6450.7 2.4 
International1,2301,2631,198(2.6)5.4 
Worldwide2,9262,9472,843(0.7)3.7 
Surgery
U.S.4,0034,0313,897(0.7)3.4 
International5,8426,0065,793(2.7)3.7 
Worldwide9,84510,0379,690(1.9)3.6 
ADVANCED
U.S.1,8381,8331,7840.2 2.8 
International2,6502,8372,785(6.6)1.9 
Worldwide4,4884,6714,569(3.9)2.2 
GENERAL
U.S.2,1652,1982,113(1.5)4.0 
International3,1923,1683,0080.8 5.3 
Worldwide5,3585,3665,121(0.2)4.8 
Vision
U.S.2,1282,0861,9902.0 4.8 
International3,0182,9862,8591.1 4.5 
Worldwide5,1465,0724,8491.5 4.6 
CONTACT LENSES / OTHER
U.S.1,6841,6261,5223.6 6.8 
International2,0492,0762,022(1.3)2.7 
Worldwide3,7333,7023,5430.8 4.5 
SURGICAL
U.S.444460468(3.4)(1.8)
International9699108376.5 8.6 
Worldwide1,4131,3701,3063.2 4.9 
 Sales to Customers % Change
(Dollars in Millions)202420232022’24 vs. ’23’23 vs. ’22
TOTAL MEDTECH   
U.S.16,33215,27513,3776.9 14.2 
International15,52515,12514,0502.6 7.7 
Worldwide31,85730,40027,4274.8 10.8 
WORLDWIDE   
U.S.50,30246,44441,9818.3 10.6 
International38,51938,71538,009(0.5)1.9 
Worldwide$88,82185,15979,9904.3 %6.5 
*    percentage greater than 100% or not meaningful
(1)Previously referred to as Interventional Solutions
(2)Acquired on December 22, 2022
(3)Acquired on May 31, 2024
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Income Before Tax by Segment
(Dollars in Millions)
2024 (3)
2023 (4)
2022 (5)
Innovative
Medicine		MedTechTotalInnovative
Medicine		MedTechTotalInnovative
Medicine		MedTechTotal
Sales to customers$56,96431,85754,75930,40052,56327,427
Cost of products sold14,03613,34513,71512,72214,06610,397
Selling, marketing and administrative 10,90610,8129,84210,4769,7149,537
Research and development expense13,5293,70311,9633,12211,6422,493
Other segment items (1)
(426)257993(589)1,494553
Segment income before tax$18,9193,74022,65918,2464,66922,91515,6474,44720,094
Less: Expense not allocated to segments (2)
5,9727,853735
Worldwide total$16,68715,06219,359
Schedule of Segment Reporting Information
 Identifiable Assets
(Dollars in Millions)20242023
Innovative Medicine$57,07058,324
MedTech84,32274,710
Total141,392133,034
General corporate (6)
38,71234,524
Worldwide total$180,104167,558
Additions to Property,
Plant & Equipment		Depreciation and
Amortization
(Dollars in Millions)202420232022202420232022
Innovative Medicine$1,7101,6531,374$3,7603,8473,687
MedTech2,4432,3722,1203,2372,9432,302
Segments total4,1534,0253,4946,9976,7905,989
Discontinued operations—162303—383641
General corporate271356212342313340
Worldwide total$4,4244,5434,009$7,3397,4866,970
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
 Sales to Customers
Long-Lived Assets (7)
(Dollars in Millions)20242023202220242023
United States$50,30246,44441,981$70,67054,832
Europe20,21220,41020,66427,26731,616
Western Hemisphere excluding U.S. 4,7144,5494,1081,7281,491
Asia-Pacific, Africa13,59313,75613,2371,4541,500
Segments total88,82185,15979,990101,11989,439
General corporate1,2171,192
Other non long-lived assets77,76876,927
Worldwide total$88,82185,15979,990$180,104167,558
See Note 1 for a description of the segments in which the Company operates.
Export sales are not significant. In fiscal year 2024, the Company utilized three wholesalers distributing products for both segments that represented approximately 20.5%, 15.6% and 12.3% of the total gross revenues. In fiscal year 2023, the Company had three wholesalers distributing products for both segments that represented approximately 18.2%, 15.1% and 14.2% of the total gross revenues. In fiscal year 2022, the Company had three wholesalers distributing products for all three segments that represented approximately 18.9%, 15.0%, and 13.8% of the total gross revenues.
(1)Other segment expenses for each reportable segment include charges related to other income and expenses, restructuring activities and impairment charges related to in-process research and development.
(2)Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal years 2024 and 2023 include charges for talc matters of approximately $5.1 billion and $7 billion, respectively (See Note 19, Legal proceedings, for additional details). The fiscal year 2024 includes a loss of approximately $0.4 billion related to the debt to equity exchange of the Company's remaining shares of Kenvue Common Stock. The fiscal year 2023 includes the unfavorable change in the fair value of the retained stake in Kenvue of approximately $0.4 billion.
(3)Innovative Medicine segment income before tax includes:
•Acquired in-process research & development expense of $1.25 billion to secure the global rights to the NM26 bispecific antibody (Yellow Jersey acquisition)
•Monetization of royalty rights of $0.3 billion
•Litigation expense of $0.3 billion primarily related to Risperdal Gynecomastia
•An intangible asset impairment charge of approximately $0.2 billion associated with the M710 (biosimilar) asset acquired as part of the acquisition of Momenta Pharmaceuticals in 2020.
•A restructuring related charge of $0.1 billion
•One-time COVID-19 Vaccine manufacturing exit related costs of $0.1 billion
•Favorable changes in the fair value of securities of $0.1 billion
MedTech segment income before tax includes:
•Acquisition and integration related costs of $1.0 billion primarily related to the acquisition of Shockwave
•Acquired in-process research and development expense of $0.5 billion from the V-Wave acquisition
•A gain of $0.2 billion related to the Acclarent divestiture
•A Medical Device Regulation charge of $0.2 billion
•A restructuring related charge of $0.2 billion
(4)Innovative Medicine segment income before tax includes:
•One-time COVID-19 Vaccine manufacturing exit related costs of $0.7 billion
•A restructuring related charge of $0.5 billion
•Unfavorable changes in the fair value of securities of $0.4 billion
•Favorable litigation related items of $0.1 billion
•Loss on divestiture of $0.2 billion.
•An intangible asset impairment charge of approximately $0.2 billion related to market dynamics associated with a non-strategic asset (M710) acquired as part of the acquisition of Momenta Pharmaceuticals in 2020.
MedTech segment income before tax includes:
•Acquired in-process research and development expense of $0.4 billion related to the Laminar acquisition in 2023
•A restructuring related charge of $0.3 billion
•Acquisition and integration related costs of $0.2 billion primarily related to the acquisition of Abiomed
•A Medical Device Regulation charge of $0.3 billion
•Income from litigation settlements of $0.1 billion
(5)Innovative Medicine segment income before tax includes:
•One-time COVID-19 Vaccine manufacturing exit related costs of $1.5 billion
•An intangible asset impairment charge of approximately $0.8 billion related to an in-process research and development asset, bermekimab (JnJ-77474462), an investigational drug for the treatment of Atopic Dermatitis (AD) and Hidradenitis Suppurativa (HS) acquired with the acquisition of XBiotech, Inc. in the fiscal year 2020. Additional information regarding efficacy of the AD and HS indications became available which led the Company to the decision to terminate the development of bermekimab for AD and HS
•Litigation expense of $0.1 billion
•Unfavorable changes in the fair value of securities of $0.7 billion
•A restructuring related charge of $0.1 billion
MedTech segment income before tax includes:
•Litigation expense of $0.6 billion primarily for pelvic mesh related costs
•A restructuring related charge of $0.3 billion
•Acquisition and integration related costs of $0.3 billion primarily related to the acquisition of Abiomed
•A Medical Device Regulation charge of $0.3 billion
(6) General corporate includes cash, cash equivalents, marketable securities and other corporate assets.
(7)Long-lived assets include property, plant and equipment, net for fiscal years 2024, and 2023 of $20,518 and $19,898, respectively, and intangible assets and goodwill, net for fiscal years 2024 and 2023 of $81,818 and $70,733, respectively.
v3.25.0.1
Acquisitions and divestitures (Tables)
 12 Months Ended
Dec. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition
Details of the fair value amounts recognized for assets acquired and liabilities assumed as of the purchase date and at the end of fiscal year 2024, which includes measurement period adjustments, are included in the table below. As the acquisition occurred in May 2024, the Company is still finalizing the allocation of the purchase price to the individual assets acquired and liabilities assumed. The allocation of the purchase price included in the current period balance sheet is based on the best estimate of management and is preliminary and subject to change.
(Dollars in Billions)May 31, 2024December 29, 2024
Assets acquired:
Cash $1.1$1.1
Goodwill7.57.6
Amortizable intangibles5.35.3
IPR&D0.60.6
Inventory0.50.5
Other assets0.50.4
Total assets acquired$15.5$15.5
Liabilities assumed:
Deferred taxes$1.5$1.5
Notes payable*1.01.0
Accrued liabilities**0.40.4
Total liabilities assumed$2.9$2.9
Net assets acquired$12.6$12.6
Net assets acquired as of May 31, 2024$12.6
Less: Cash acquired1.1
Equity awards settled0.6
Settlement of Note payable*1.0
Total enterprise value as of June 30, 2024$13.1
*    Represents the convertible debt which was subsequently paid in the fiscal second quarter of 2024.
**    Includes $0.2 billion of equity awards
v3.25.0.1
Legal proceedings (Tables)
 12 Months Ended
Dec. 29, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Loss Contingencies by Contingency
The table below contains the most significant of these cases and provides the approximate number of plaintiffs in the United States with direct claims in pending lawsuits regarding injuries allegedly due to the relevant product or product category as of December 29, 2024:
Product or product categoryNumber of plaintiffs
Body powders containing talc, primarily JOHNSON’S Baby Powder62,830 
DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System60 
PINNACLE Acetabular Cup System910 
Pelvic meshes5,990 
ETHICON PHYSIOMESH Flexible Composite Mesh130 
RISPERDAL7 
ELMIRON2,170 
v3.25.0.1
Restructuring (Tables)
 12 Months Ended
Dec. 29, 2024
Restructuring and Related Activities [Abstract]  
Summary of Severance Charges and Associated Spending
The following table summarizes the restructuring expenses for the fiscal years 2024 and 2023:
(Pre-tax Dollars in Millions)20242023
Innovative Medicine Segment(1)
$102479
MedTech Segment(2)
167319
Total Programs$269$798
(1)The fiscal year of 2024 included $102 million in Restructuring on the Consolidated Statement of Earnings. The fiscal year of 2023 included $449 million in Restructuring and $30 million in Cost of products sold on the Consolidated Statement of Earnings.
(2)The fiscal year of 2024 included $132 million in Restructuring and $35 million in Cost of products sold on the Consolidated Statement of Earnings. The fiscal year of 2023 Included $40 million in Restructuring and $279 million in Cost of products sold on the Consolidated Statement of Earnings.
v3.25.0.1
Kenvue separation and discontinued operations (Tables)
 12 Months Ended
Dec. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
Details of Net Earnings from Discontinued Operations, net of taxes are as follows:
(Dollars in Millions)
 2023(1)
2022
Sales to customers$10,03614,953
Cost of products sold4,3696,494
Gross profit5,6678,459
Selling, marketing and administrative expenses3,0854,519
Research and development expense258468
Interest Income(117)—
Interest expense, net of portion capitalized199—
Other (income) expense, net1,0921,060
(Gain) on separation of Kenvue(20,984)—
Restructuring—46
Earnings from Discontinued Operations Before Provision for Taxes on Income22,1342,366
Provision for taxes on income307795
Net earnings from Discontinued Operations$21,8271,571
(1)The Company ceased consolidating the results of the Consumer Health business on August 23, 2023, the date of the exchange offer, but continued to reflect any separation costs incurred as part of discontinued operations through the end of the fiscal fourth quarter.
The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue:
(Dollars in Millions)
 2023(1)
2022
Depreciation and Amortization$383641
Capital expenditures$162303
v3.25.0.1
Summary of significant accounting policies - Narrative (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Aug. 23, 2023
May 08, 2023
USD ($)
$ / shares
shares
Dec. 29, 2024
USD ($)
Segment
Employee
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Jan. 01, 2023
USD ($)
Jan. 02, 2022
USD ($)
Jan. 03, 2021
Dec. 29, 2019
Jul. 02, 2023
USD ($)
Concentration of Credit Risk [Line Items]                  
Number of employees | Employee     138,100            
Common Stock, Par or Stated Value Per Share | $ / shares     $ 1.00 $ 1.00          
Proceeds from Kenvue initial public offering     $ 0 $ 4,241 $ 0        
Realized gain (loss) on investment   $ 2,500              
Number of business segments | Segment     2            
Supplier finance program, obligation, current     $ 788 $ 704          
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]     Accounts Payable, Current Accounts Payable, Current          
Minimum reverse repurchase agreement collateral (as a percent)     102.00%            
Accrued rebates, returns and promotions     $ 17,580 $ 16,001          
Sales return reserve (as a percent)     1.00% 1.00% 1.00%        
Percentage of profit share payments (less than)     2.00% 2.00% 3.00%        
Cost of products sold     $ 27,471 $ 26,553 $ 24,596        
Shipping and handling costs as a percent of sales     1.00% 1.00% 1.00%        
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]     Other assets, noncurrent Other assets, noncurrent          
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]     Accrued Liabilities, Current Accrued Liabilities, Current          
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]     Other Liabilities, Noncurrent Other Liabilities, Noncurrent          
Operating lease, right-of-use asset     $ 1,100 $ 1,000          
Operating lease liabilities     1,200 1,100          
Operating lease costs     200 200 $ 200        
Cash paid for operating leases     200 200 200        
Advertising expense     $ 600 $ 500 $ 700        
U.S. statutory rate     21.00% 21.00% 21.00%   21.00% 35.00%  
TCJA, undistributed foreign earnings percent related to cash and cash equivalents             15.50%    
TCJA, undistributed foreign earnings percent related to earnings other than cash and cash equivalents             8.00%    
TCJA, transition tax for accumulated foreign earnings, payment period     8 years            
TJCA , provisional liability, non-current     $ 2,500            
Repatriation of foreign earnings amount     500            
Selling, marketing and administrative expenses     $ 22,869 $ 21,512 $ 20,246        
Supplier finance program, payment timing, period     90 days            
Yellow Jersey Therapeutics                  
Concentration of Credit Risk [Line Items]                  
Payments to Acquire in Process Research and Development     $ 1,250            
Kenvue Inc.                  
Concentration of Credit Risk [Line Items]                  
Split-off percentage 80.10%                
Kenvue Inc.                  
Concentration of Credit Risk [Line Items]                  
Common Stock, Par or Stated Value Per Share | $ / shares   $ 0.01              
Sale of stock (in USD per share) | $ / shares   $ 22.00              
Johnson & Johnson | Kenvue Inc.                  
Concentration of Credit Risk [Line Items]                  
Percentage ownership after transaction   89.60%              
Common stock, value                 $ 1,300
Percentage ownership after transaction 9.50%                
IPO | Kenvue Inc.                  
Concentration of Credit Risk [Line Items]                  
Sale of stock, number of shares issued in transaction (in shares) | shares   198,734,444              
Proceeds from Kenvue initial public offering   $ 4,200              
Minimum                  
Concentration of Credit Risk [Line Items]                  
Revenue, performance obligation, payment terms     30 days            
Minimum | Software Development                  
Concentration of Credit Risk [Line Items]                  
Estimated useful lives of the assets     3 years            
Maximum                  
Concentration of Credit Risk [Line Items]                  
Revenue, performance obligation, payment terms     90 days            
Maximum | Software Development                  
Concentration of Credit Risk [Line Items]                  
Estimated useful lives of the assets     8 years            
R&D Expense | Project Concentration Risk                  
Concentration of Credit Risk [Line Items]                  
Concentration risk, threshold percentage (as a percent)     0.05 0.05 0.05        
Shipping and Handling                  
Concentration of Credit Risk [Line Items]                  
Selling, marketing and administrative expenses     $ 900 $ 900   $ 800      
Pharmaceutical                  
Concentration of Credit Risk [Line Items]                  
Accrued rebates, returns and promotions     $ 12,300 $ 11,500          
v3.25.0.1
Summary of significant accounting policies - Estimated Useful Lives of Assets (Details)
Dec. 29, 2024
Minimum | Land and leasehold improvements  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of the assets 10 years
Minimum | Machinery and equipment  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of the assets 2 years
Maximum | Building and building equipment  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of the assets 30 years
Maximum | Land and leasehold improvements  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of the assets 20 years
Maximum | Machinery and equipment  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of the assets 13 years
v3.25.0.1
Summary of significant accounting policies - Supplier Finance Program (Details)
$ in Millions
 12 Months Ended
Dec. 29, 2024
USD ($)
Supplier Finance Program, Obligation [Roll Forward]  
Confirmed obligations - beginning of the year $ 704
Invoices confirmed during the year 3,048
Confirmed invoices paid during the year 2,964
Confirmed obligations - end of the year $ 788
v3.25.0.1
Cash, cash equivalents and current marketable securities - Cash and Cash Equivalent Composition (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Fair value, available-for-sale $ 7,216 $ 8,874
Cash & Cash Equivalents 24,105 21,859
Current Marketable Securities 417 1,068
Held-to-maturity Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 17,306 14,053
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity 17,306 14,053
Cash & Cash Equivalents 17,186 13,556
Current Marketable Securities 120 497
Held-to-maturity Securities | Cash    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 2,918 3,340
Held-to-maturity, unrecognized gain 0  
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity 2,918 3,340
Cash & Cash Equivalents 2,918 3,340
Current Marketable Securities 0 0
Held-to-maturity Securities | Non-U.S. Sovereign Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 120 522
Held-to-maturity, unrecognized gain 0  
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity 120 522
Cash & Cash Equivalents 0 174
Current Marketable Securities 120 348
Held-to-maturity Securities | U.S. Reverse repurchase agreements    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 7,100 4,377
Held-to-maturity, unrecognized gain 0  
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity 7,100 4,377
Cash & Cash Equivalents 7,100 4,377
Current Marketable Securities 0 0
Held-to-maturity Securities | Corporate debt securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity   338
Held-to-maturity, unrecognized gain 0  
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity   338
Cash & Cash Equivalents   189
Current Marketable Securities   149
Held-to-maturity Securities | Money market funds    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 6,123 4,814
Held-to-maturity, unrecognized gain 0  
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity 6,123 4,814
Cash & Cash Equivalents 6,123 4,814
Current Marketable Securities 0 0
Held-to-maturity Securities | Time deposits    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 1,045 662
Held-to-maturity, unrecognized gain 0  
Held-to-maturity, unrecognized loss   0
Fair value, held-to-maturity 1,045 662
Cash & Cash Equivalents 1,045 662
Current Marketable Securities 0 0
Available-for-sale Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, available-for-sale 7,215 8,875
Available-for-sale, unrealized gain 1  
Available-for-sale, unrecognized loss   (1)
Fair value, available-for-sale 7,216 8,874
Cash & Cash Equivalents 6,919 8,303
Current Marketable Securities 297 571
Available-for-sale Securities | Corporate debt securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, available-for-sale 224 237
Available-for-sale, unrealized gain 0  
Available-for-sale, unrecognized loss  
Fair value, available-for-sale 224 237
Cash & Cash Equivalents 40 43
Current Marketable Securities 184 194
Available-for-sale Securities | U.S. Gov't Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, available-for-sale 6,815 8,562
Available-for-sale, unrealized gain 1  
Available-for-sale, unrecognized loss   0
Fair value, available-for-sale 6,816 8,562
Cash & Cash Equivalents 6,796 8,259
Current Marketable Securities 20 303
Available-for-sale Securities | U.S. Gov't Agencies    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, available-for-sale   71
Available-for-sale, unrecognized loss   (1)
Fair value, available-for-sale   70
Cash & Cash Equivalents   0
Current Marketable Securities   70
Available-for-sale Securities | Other Sovereign Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, available-for-sale 176 5
Available-for-sale, unrealized gain 0  
Available-for-sale, unrecognized loss   0
Fair value, available-for-sale 176 5
Cash & Cash Equivalents 83 1
Current Marketable Securities $ 93 $ 4
v3.25.0.1
Cash, cash equivalents and current marketable securities - Contractual Maturities of Available for Sale Securities (Details)
$ in Millions
Dec. 29, 2024
USD ($)
Cost Basis  
Due within one year $ 7,204
Due after one year through five years 11
Due after five years through ten years 0
Total debt securities 7,215
Fair Value  
Due within one year 7,205
Due after one year through five years 11
Due after five years through ten years 0
Total debt securities $ 7,216
v3.25.0.1
Inventories (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Summary of Inventories    
Raw materials and supplies $ 2,337 $ 2,355
Goods in process 2,815 1,952
Finished goods 7,292 6,874
Total inventories $ 12,444 $ 11,181
v3.25.0.1
Property, plant and equipment - Property, Plant and Equipment at Cost and Accumulated Depreciation (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross $ 48,768 $ 47,776
Less accumulated depreciation 28,250 27,878
Total property, plant and equipment, net 20,518 19,898
Land and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross 718 795
Building and building equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross 12,317 12,375
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross 29,444 28,979
Construction in progress    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross $ 6,289 $ 5,627
v3.25.0.1
Property, plant and equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Property, Plant and Equipment [Abstract]      
Interest expense capitalized $ 79 $ 70 $ 49
Depreciation expense, including the amortization of capitalized interest $ 2,800 $ 2,600 $ 2,400
v3.25.0.1
Intangible assets and goodwil - Schedule of Intangible Assets and Goodwill (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Sep. 30, 2024
Dec. 31, 2023
Dec. 22, 2022
Intangible assets with indefinite lives:        
Indefinite lived intangible assets $ 12,281   $ 10,929  
Total intangible assets - net 37,618   34,175  
Intangible assets useful life       14 years
Trademarks        
Intangible assets with indefinite lives:        
Indefinite lived intangible assets 0   1,714  
Purchased in-process research and development        
Intangible assets with indefinite lives:        
Indefinite lived intangible assets 12,281   9,215  
Patents And Trademarks        
Intangible assets with definite lives:        
Finite lived intangible assets gross 44,695   40,417  
Less accumulated amortization (26,124)   (24,808)  
Finite lived intangible assets net $ 18,571   15,609  
Intangible assets with indefinite lives:        
Intangible assets useful life 12 years      
Customer relationships and other intangible assets        
Intangible assets with definite lives:        
Finite lived intangible assets gross $ 20,310   20,322  
Less accumulated amortization (13,544)   (12,685)  
Finite lived intangible assets net $ 6,766   $ 7,637  
Intangible assets with indefinite lives:        
Intangible assets useful life 18 years      
Trademarks        
Intangible assets with definite lives:        
Finite lived intangible assets gross   $ 1,700    
Intangible assets with indefinite lives:        
Intangible assets useful life   25 years    
v3.25.0.1
Intangible assets and goodwill - Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill beginning of period $ 36,558 $ 36,047
Goodwill, related to acquisitions 8,209 0
Goodwill, related to divestitures (56) 0
Currency translation/other (511) 511
Goodwill end of period 44,200 36,558
Innovative Medicine    
Goodwill [Roll Forward]    
Goodwill beginning of period 10,407 10,184
Goodwill, related to acquisitions 640 0
Goodwill, related to divestitures 0 0
Currency translation/other (355) 223
Goodwill end of period 10,692 10,407
MedTech    
Goodwill [Roll Forward]    
Goodwill beginning of period 26,151 25,863
Goodwill, related to acquisitions 7,569 0
Goodwill, related to divestitures (56) 0
Currency translation/other (156) 288
Goodwill end of period $ 33,508 $ 26,151
v3.25.0.1
Intangible assets and goodwill - Narrative (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Dec. 22, 2022
Finite-Lived Intangible Assets [Line Items]        
Intangible assets useful life       14 years
Amortization expense of amortizable intangible assets $ 4.5 $ 4.5 $ 3.9  
Patents And Trademarks        
Finite-Lived Intangible Assets [Line Items]        
Intangible assets useful life 12 years      
Customer relationships and other intangible assets        
Finite-Lived Intangible Assets [Line Items]        
Intangible assets useful life 18 years      
v3.25.0.1
Intangible assets and goodwill - Estimated Amortization of Intangible Assets (Details)
$ in Millions
Dec. 29, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2025 $ 4,000
2026 3,400
2027 2,800
2028 2,200
2029 $ 2,200
v3.25.0.1
Fair value measurements - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
May 17, 2024
May 15, 2024
Dec. 29, 2024
Dec. 31, 2023
Derivative [Line Items]        
Deferred net losses (gains) on derivatives included in accumulated other comprehensive income     $ 1,700  
Description of reclassification of cash flow hedge gain (loss)     next 12 months  
Maximum length of time for hedging transaction exposure     18 months  
Commercial paper   $ 3,600    
Proceeds from issuance of commercial paper   $ 3,600    
Debt for equity exchange, shares exchanged (in shares) 182,329,550      
Loss on shares exchanged $ 400      
Foreign exchange contracts        
Derivative [Line Items]        
Collateral paid     $ 2,200 $ 4,000
Derivative, notional amount     45,100 42,900
Cross currency interest rate swaps        
Derivative [Line Items]        
Derivative, notional amount     40,500 39,700
Interest Rate Swap        
Derivative [Line Items]        
Derivative, notional amount     9,000 10,000
Equity securities | Equity Investments without readily determinable value        
Derivative [Line Items]        
Equity, fair value adjustment, impairment loss     (171) (1)
Equity, fair value adjustment, change in observable prices     $ (26) $ 27
v3.25.0.1
Fair value measurements - Summary of Derivative Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income $ 862 $ 569 $ 348
Amount of gain or (loss) recognized in AOCI (511) 422 $ 454
Sales | Interest Rate Swap | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Sales | Cross currency interest rate swaps contracts: | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Sales | Cross currency interest rate swaps contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Sales | Forward foreign exchange contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 2 7  
Amount of gain or (loss) recognized in AOCI (7) 10  
Cost of Products Sold | Interest Rate Swap | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Cost of Products Sold | Cross currency interest rate swaps contracts: | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Cost of Products Sold | Cross currency interest rate swaps contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Cost of Products Sold | Forward foreign exchange contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 426 186  
Amount of gain or (loss) recognized in AOCI (156) 447  
R&D Expense | Interest Rate Swap | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
R&D Expense | Cross currency interest rate swaps contracts: | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
R&D Expense | Cross currency interest rate swaps contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
R&D Expense | Forward foreign exchange contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 33 (37)  
Amount of gain or (loss) recognized in AOCI 80 (18)  
Interest (Income) Expense | Interest Rate Swap | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 64 168  
Amount of gain or (loss) recognized in AOCI (64) (168)  
Interest (Income) Expense | Cross currency interest rate swaps contracts: | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 148 130  
Amount of gain or (loss) recognized in AOCI 148 130  
Interest (Income) Expense | Cross currency interest rate swaps contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 247 275  
Amount of gain or (loss) recognized in AOCI (597) (156)  
Interest (Income) Expense | Forward foreign exchange contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Other (Income) Expense | Interest Rate Swap | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Other (Income) Expense | Cross currency interest rate swaps contracts: | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) recognized in income on derivative amount excluded from effectiveness testing 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Other (Income) Expense | Cross currency interest rate swaps contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 0 0  
Amount of gain or (loss) recognized in AOCI 0 0  
Other (Income) Expense | Forward foreign exchange contracts: | Cash Flow Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income 6 8  
Amount of gain or (loss) recognized in AOCI $ 21 $ 9  
v3.25.0.1
Fair value measurements - Schedule of Derivatives Recorded in Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Carrying Amount of the Hedged Liability $ 4,564 $ 6,037
Long-term Debt | Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Carrying Amount of the Hedged Liability 7,935 8,862
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability $ (1,132) $ (1,216)
v3.25.0.1
Fair value measurements - Schedule of Effect of Derivatives not Designated as Hedging Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other (income) expense, net Other (income) expense, net
Forward foreign exchange contracts: | Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Recognized In Income on Derivative $ 8 $ (60)
v3.25.0.1
Fair value measurements - Schedule of Effect of Net Investment Hedges (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 29, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]        
Gain/(Loss) Recognized In Accumulated OCI     $ 282 $ (131)
Cross currency interest rate swaps contracts:        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain/(Loss) Recognized In Accumulated OCI     $ 955 $ 642
Other (Income) Expense        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain/(Loss) Reclassified from Accumulated OCI Into Income $ 0 $ 0    
Other (Income) Expense | Cross currency interest rate swaps contracts:        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain/(Loss) Reclassified from Accumulated OCI Into Income $ 0 $ 0    
v3.25.0.1
Fair value measurements - Summary of Activity Related to Equity Investments (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 23, 2023
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Equity Investment [Roll Forward]        
Other assets, noncurrent   $ 11,414 $ 14,153  
Equity securities, FV-NI, gain (loss)   400 400  
Kenvue Inc. | Johnson & Johnson        
Equity Investment [Roll Forward]        
Percentage ownership after transaction 9.50%      
Equity securities | Equity Investments with readily determinable value        
Equity Investment [Roll Forward]        
Marketable securities, noncurrent   451 4,473 $ 576
Equity, fair value adjustment   (17) (368)  
Equity investments, increase (decrease) from acquisition (sale) during period   (4,005) 4,265  
Other assets, noncurrent   451 4,473  
Equity securities | Equity Investments without readily determinable value        
Equity Investment [Roll Forward]        
Equity securities without readily determinable fair value, amount   773 696 $ 613
Equity, fair value adjustment   (197) 1  
Equity investments, increase (decrease) from acquisition (sale) during period   274 82  
Other assets, noncurrent   $ 773 $ 696  
v3.25.0.1
Fair value measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Jun. 20, 2024
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets $ 2,144      
Derivatives designated as hedging instruments : Liabilities 4,547      
Equity investments 451 $ 4,473    
Debt securities 7,216 8,874    
Contingent Consideration 1,217 1,092    
Total Gross Assets 2,194 1,591    
Credit Support Agreements (CSA) $ (2,172) $ (1,575)    
Derivative Asset, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag Total Net Asset Total Net Asset    
Total Net Asset $ 22 $ 16    
Total Gross Liabilities 4,564 6,037    
Credit Support Agreements (CSA) $ (4,412) $ (5,604)    
Derivative Liability, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag Total Net Liabilities Total Net Liabilities    
Total Net Liabilities $ 152 $ 433    
Beginning Balance 1,092 1,120 $ 533  
Changes in estimated fair value 88 29 (194)  
Additions 112 0 792  
Payments/Other (75) (57) (11)  
Ending Balance 1,217 1,092 1,120  
Other Noncurrent Liabilities        
Financial assets and liabilities at fair value        
Contingent Consideration 1,217 1,092 1,116  
Other Current Liabilities        
Financial assets and liabilities at fair value        
Contingent Consideration     4  
Abiomed        
Financial assets and liabilities at fair value        
Contingent Consideration 700   $ 704  
Proteologix        
Financial assets and liabilities at fair value        
Contingent Consideration 105     $ 100
Level 1        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 0      
Derivatives designated as hedging instruments : Liabilities 0      
Equity investments 451 4,473    
Debt securities 0      
Level 2        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 2,144 1,527    
Derivatives designated as hedging instruments : Liabilities 4,547 5,962    
Equity investments 0      
Debt securities 7,216      
Level 3        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 0      
Derivatives designated as hedging instruments : Liabilities 0      
Equity investments 0      
Debt securities 0      
Contingent Consideration 1,217 1,092    
Foreign exchange contracts        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 660      
Derivatives designated as hedging instruments : Liabilities 794      
Derivatives not designated as hedging instruments : Assets 50      
Derivatives not designated as hedging instruments : Liabilities 17      
Foreign exchange contracts | Level 1        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 0      
Derivatives designated as hedging instruments : Liabilities 0      
Derivatives not designated as hedging instruments : Assets 0      
Derivatives not designated as hedging instruments : Liabilities 0      
Foreign exchange contracts | Level 2        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 660 539    
Derivatives designated as hedging instruments : Liabilities 794 624    
Derivatives not designated as hedging instruments : Assets 50 64    
Derivatives not designated as hedging instruments : Liabilities 17 75    
Foreign exchange contracts | Level 3        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 0      
Derivatives designated as hedging instruments : Liabilities 0      
Derivatives not designated as hedging instruments : Assets 0      
Derivatives not designated as hedging instruments : Liabilities 0      
Interest rate swaps contracts:        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 1,484      
Derivatives designated as hedging instruments : Liabilities 3,753      
Interest rate swaps contracts: | Level 1        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 0      
Derivatives designated as hedging instruments : Liabilities 0      
Interest rate swaps contracts: | Level 2        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 1,484 988    
Derivatives designated as hedging instruments : Liabilities 3,753 $ 5,338    
Interest rate swaps contracts: | Level 3        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 0      
Derivatives designated as hedging instruments : Liabilities $ 0      
v3.25.0.1
Borrowings - Schedule of Long-term Debt Instruments (Details)
€ in Millions, £ in Millions, $ in Millions
 12 Months Ended
Dec. 29, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 29, 2024
EUR (€)
Dec. 31, 2023
EUR (€)
Dec. 31, 2023
GBP (£)
Debt Instrument [Line Items]          
Long-term debt $ 32,400 $ 27,350      
Effective interest rate 3.36% 2.98% 3.36% 2.98% 2.98%
Less current portion $ 1,749 $ 1,469      
Total long-term debt 30,651 25,881      
Excess of carrying value over fair value of debt 2,000        
Excess of fair value over carrying value of debt   1,000      
0.650% Notes due 2024 (750MM Euro 1.1090)(3)          
Debt Instrument [Line Items]          
Long-term debt $ 0 $ 831      
Effective interest rate 0.00% 0.68% 0.00% 0.68% 0.68%
Stated interest rate (as a percent) 0.65%   0.65%    
Debt instrument, face amount | €       € 750  
Foreign currency exchange rate, translation   1.1090   1.1090 1.1090
5.50% Notes due 2024 (500MM GBP 1.2756)(3)          
Debt Instrument [Line Items]          
Long-term debt $ 0 $ 637      
Effective interest rate 0.00% 6.75% 0.00% 6.75% 6.75%
Stated interest rate (as a percent) 5.50%   5.50%    
Debt instrument, face amount | £         £ 500
Foreign currency exchange rate, translation   1.2756   1.2756 1.2756
2.625% Notes due 2025          
Debt Instrument [Line Items]          
Long-term debt $ 750 $ 750      
Effective interest rate 2.63% 2.63% 2.63% 2.63% 2.63%
Stated interest rate (as a percent) 2.625%   2.625%    
0.55% Notes due 2025          
Debt Instrument [Line Items]          
Long-term debt $ 999 $ 950      
Effective interest rate 0.57% 0.57% 0.57% 0.57% 0.57%
Stated interest rate (as a percent) 0.55%   0.55%    
2.46% Notes due 2026          
Debt Instrument [Line Items]          
Long-term debt $ 1,999 $ 1,997      
Effective interest rate 2.47% 2.47% 2.47% 2.47% 2.47%
Stated interest rate (as a percent) 2.46%   2.46%    
2.95% Notes due 2027          
Debt Instrument [Line Items]          
Long-term debt $ 927 $ 900      
Effective interest rate 2.96% 2.96% 2.96% 2.96% 2.96%
Stated interest rate (as a percent) 2.95%   2.95%    
0.95% Notes due 2027          
Debt Instrument [Line Items]          
Long-term debt $ 1,458 $ 1,419      
Effective interest rate 0.96% 0.96% 0.96% 0.96% 0.96%
Stated interest rate (as a percent) 0.95%   0.95%    
1.150% Notes due 2028
(750MM Euro 1.0401)(2)/(750MM Euro 1.1090)(3)          
Debt Instrument [Line Items]          
Long-term debt $ 777 $ 828      
Effective interest rate 1.21% 1.21% 1.21% 1.21% 1.21%
Stated interest rate (as a percent) 1.15%   1.15%    
Debt instrument, face amount | €     € 750 € 750  
Foreign currency exchange rate, translation 1.0401 1.1090 1.0401 1.1090 1.1090
2.90% Notes due 2028          
Debt Instrument [Line Items]          
Long-term debt $ 1,498 $ 1,497      
Effective interest rate 2.91% 2.91% 2.91% 2.91% 2.91%
Stated interest rate (as a percent) 2.90%   2.90%    
6.95% Notes due 2029          
Debt Instrument [Line Items]          
Long-term debt $ 298 $ 298      
Effective interest rate 7.14% 7.14% 7.14% 7.14% 7.14%
Stated interest rate (as a percent) 6.95%   6.95%    
4.80% Debentures due 2029          
Debt Instrument [Line Items]          
Long-term debt $ 1,146 $ 0      
Effective interest rate 4.83% 0.00% 4.83% 0.00% 0.00%
Stated interest rate (as a percent) 4.80%   4.80%    
1.30% Notes due 2030          
Debt Instrument [Line Items]          
Long-term debt $ 1,646 $ 1,630      
Effective interest rate 1.30% 1.30% 1.30% 1.30% 1.30%
Stated interest rate (as a percent) 1.30%   1.30%    
4.90% Debentures due 2031          
Debt Instrument [Line Items]          
Long-term debt $ 1,145 $ 0      
Effective interest rate 4.92% 0.00% 4.92% 0.00% 0.00%
Stated interest rate (as a percent) 4.90%   4.90%    
3.20% Debentures due 2032          
Debt Instrument [Line Items]          
Long-term debt $ 725 $ 0      
Effective interest rate 3.21% 0.00% 3.21% 0.00% 0.00%
Stated interest rate (as a percent) 3.20%   3.20%    
Debt instrument, face amount | €     € 700    
Foreign currency exchange rate, translation 1.0401   1.0401    
4.95% Debentures due 2033          
Debt Instrument [Line Items]          
Long-term debt $ 499 $ 499      
Effective interest rate 4.95% 4.95% 4.95% 4.95% 4.95%
Stated interest rate (as a percent) 4.95%   4.95%    
4.375% Notes due 2033          
Debt Instrument [Line Items]          
Long-term debt $ 854 $ 854      
Effective interest rate 4.24% 4.24% 4.24% 4.24% 4.24%
Stated interest rate (as a percent) 4.375%   4.375%    
4.95% Debentures due 2034          
Debt Instrument [Line Items]          
Long-term debt $ 846 $ 0      
Effective interest rate 4.96% 0.00% 4.96% 0.00% 0.00%
Stated interest rate (as a percent) 4.95%   4.95%    
1.650% Notes due 2035
(1.5B Euro 1.0401)(2)/(1.5B Euro 1.1090)(3)          
Debt Instrument [Line Items]          
Long-term debt $ 1,550 $ 1,652      
Effective interest rate 1.68% 1.68% 1.68% 1.68% 1.68%
Stated interest rate (as a percent) 1.65%   1.65%    
Debt instrument, face amount | €     € 1,500 € 1,500  
Foreign currency exchange rate, translation 1.0401 1.1090 1.0401 1.1090 1.1090
3.35% Debentures due 2036          
Debt Instrument [Line Items]          
Long-term debt $ 827 $ 0      
Effective interest rate 3.37% 0.00% 3.37% 0.00% 0.00%
Stated interest rate (as a percent) 3.35%   3.35%    
Debt instrument, face amount | €     € 800    
Foreign currency exchange rate, translation 1.0401   1.0401    
3.587% Notes due 2036          
Debt Instrument [Line Items]          
Long-term debt $ 869 $ 864      
Effective interest rate 3.59% 3.59% 3.59% 3.59% 3.59%
Stated interest rate (as a percent) 3.587%   3.587%    
5.95% Notes due 2037          
Debt Instrument [Line Items]          
Long-term debt $ 994 $ 994      
Effective interest rate 5.99% 5.99% 5.99% 5.99% 5.99%
Stated interest rate (as a percent) 5.95%   5.95%    
3.625% Notes due 2037          
Debt Instrument [Line Items]          
Long-term debt $ 1,358 $ 1,357      
Effective interest rate 3.64% 3.64% 3.64% 3.64% 3.64%
Stated interest rate (as a percent) 3.625%   3.625%    
5.85% Debentures due 2038          
Debt Instrument [Line Items]          
Long-term debt $ 697 $ 697      
Effective interest rate 5.85% 5.85% 5.85% 5.85% 5.85%
Stated interest rate (as a percent) 5.85%   5.85%    
3.40% Notes due 2038          
Debt Instrument [Line Items]          
Long-term debt $ 993 $ 993      
Effective interest rate 3.42% 3.42% 3.42% 3.42% 3.42%
Stated interest rate (as a percent) 3.40%   3.40%    
4.50% Debentures due 2040          
Debt Instrument [Line Items]          
Long-term debt $ 541 $ 541      
Effective interest rate 4.63% 4.63% 4.63% 4.63% 4.63%
Stated interest rate (as a percent) 4.50%   4.50%    
2.10% Notes due 2040          
Debt Instrument [Line Items]          
Long-term debt $ 845 $ 849      
Effective interest rate 2.14% 2.14% 2.14% 2.14% 2.14%
Stated interest rate (as a percent) 2.10%   2.10%    
4.85% Notes due 2041          
Debt Instrument [Line Items]          
Long-term debt $ 297 $ 297      
Effective interest rate 4.89% 4.89% 4.89% 4.89% 4.89%
Stated interest rate (as a percent) 4.85%   4.85%    
4.50% Notes due 2043          
Debt Instrument [Line Items]          
Long-term debt $ 496 $ 496      
Effective interest rate 4.52% 4.52% 4.52% 4.52% 4.52%
Stated interest rate (as a percent) 4.50%   4.50%    
3.55% Debentures due 2044          
Debt Instrument [Line Items]          
Long-term debt $ 1,030 $ 0      
Effective interest rate 3.58% 0.00% 3.58% 0.00% 0.00%
Stated interest rate (as a percent) 3.55%   3.55%    
Debt instrument, face amount | €     € 1,000    
Foreign currency exchange rate, translation 1.0401   1.0401    
3.73% Notes due 2046          
Debt Instrument [Line Items]          
Long-term debt $ 1,978 $ 1,977      
Effective interest rate 3.74% 3.74% 3.74% 3.74% 3.74%
Stated interest rate (as a percent) 3.73%   3.73%    
3.75% Notes due 2047          
Debt Instrument [Line Items]          
Long-term debt $ 822 $ 832      
Effective interest rate 3.76% 3.76% 3.76% 3.76% 3.76%
Stated interest rate (as a percent) 3.75%   3.75%    
3.500% Notes due 2048          
Debt Instrument [Line Items]          
Long-term debt $ 744 $ 743      
Effective interest rate 3.52% 3.52% 3.52% 3.52% 3.52%
Stated interest rate (as a percent) 3.50%   3.50%    
2.250% Notes due 2050          
Debt Instrument [Line Items]          
Long-term debt $ 808 $ 826      
Effective interest rate 2.29% 2.29% 2.29% 2.29% 2.29%
Stated interest rate (as a percent) 2.25%   2.25%    
5.25% Debentures due 2054          
Debt Instrument [Line Items]          
Long-term debt $ 843 $ 0      
Effective interest rate 5.26% 0.00% 5.26% 0.00% 0.00%
Stated interest rate (as a percent) 5.25%   5.25%    
2.450% Notes due 2060          
Debt Instrument [Line Items]          
Long-term debt $ 1,058 $ 1,073      
Effective interest rate 2.49% 2.49% 2.49% 2.49% 2.49%
Stated interest rate (as a percent) 2.45%   2.45%    
Other          
Debt Instrument [Line Items]          
Long-term debt $ 83 $ 69      
Effective interest rate 0.00% 0.00% 0.00% 0.00% 0.00%
v3.25.0.1
Borrowings - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jun. 30, 2024
Short-term Debt [Line Items]      
Borrowing capacity under credit facility     $ 10,000
Short-term borrowings and the current portion of long-term debt $ 6,000 $ 3,500  
Borrowed under the commercial paper program 1,700 1,500  
Loans and notes payable 5,983 3,451  
Commercial Paper      
Short-term Debt [Line Items]      
Loans and notes payable $ 4,100 $ 2,000  
Debt, weighted average interest rate 4.46% 5.37%  
Debt instrument, term 2 months 2 months  
v3.25.0.1
Borrowings - Aggregate Maturities of Long Term Obligations (Details)
$ in Millions
Dec. 29, 2024
USD ($)
Aggregate maturities of long-term obligations  
2025 $ 1,749
2026 1,999
2027 2,385
2028 2,275
2029 1,444
After 2029 $ 22,548
v3.25.0.1
Income taxes - Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Currently payable:      
U.S. taxes $ 2,200 $ 2,705 $ 2,274
International taxes 2,604 3,090 2,295
Total currently payable 4,804 5,795 4,569
Deferred:      
U.S. taxes (2,539) (3,440) (1,990)
International taxes 356 (619) 410
Total deferred (2,183) (4,059) (1,580)
Provision for taxes on income $ 2,621 $ 1,736 $ 2,989
v3.25.0.1
Income taxes - Comparison of Income Taxes at Statutory Rate and Company's Effective Tax Rate (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Jan. 03, 2021
Dec. 29, 2019
Comparison Of Income Tax Expense At Statutory Rate And Company's Tax Rate Abstract          
U.S.  $ (458) $ (2,033) $ 4,606    
International 17,145 17,095 14,753    
Earnings before provision for taxes on income $ 16,687 $ 15,062 $ 19,359    
Tax rates:          
U.S. statutory rate 21.00% 21.00% 21.00% 21.00% 35.00%
International operations (5.20%) (8.10%) (5.00%)    
U.S. tax settlements 1.00% (3.00%) 0.00%    
U.S. taxes on international income (2.60%) (0.30%) (1.10%)    
U.S. state taxes 1.50% 1.00% 0.30%    
Tax benefits on share-based compensation (0.60%) (0.80%) (1.40%)    
All other 0.60% 1.70% 1.60%    
Effective Rate 15.70% 11.50% 15.40%    
v3.25.0.1
Income taxes - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Jan. 02, 2022
Tax Credit Carryforward [Line Items]          
Effective income tax rate reconciliation, increase (decrease), percent 3.00% 4.20% (3.90%)    
Decrease in foreign tax credits $ 400        
Decrease in foreign tax credits, percent 2.60%        
Deferred tax assets, tax basis increase of certain assets due to reorganization $ 300   $ 300    
Effective income tax rate reconciliation, GILTI, amount   $ 100      
Increase (decrease) in deferred tax liabilities, global intangible low-taxed income (GILTI)     300    
Unrecognized tax benefits 2,485 2,020 2,485 $ 3,716 $ 3,210
Unrecognized tax benefits, interest on income tax expense   217 99 136  
Unrecognized tax benefits, interest on income taxes accrued $ 264 274 264    
Unrecognized tax benefits, period increase (decrease)   $ 200      
State and Local Jurisdiction          
Tax Credit Carryforward [Line Items]          
Effective tax rate reconciliation, net increase (decrease) in tax rate, percent   3.40%      
Talc | Consumer Health          
Tax Credit Carryforward [Line Items]          
Litigation expense   $ 5,100 $ 7,000 $ 7,000  
Effective income tax rate reconciliation, tax settlement, percent       21.10%  
v3.25.0.1
Income taxes - Temporary Differences and Carryforwards (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Asset      
Employee related obligations $ 372 $ 586  
Stock based compensation 717 686  
R&D capitalized for tax 4,398 3,595  
Reserves & liabilities 4,444 3,816  
Inventory related 371 359  
Operating loss carryforwards 2,298 2,145  
Undistributed foreign earnings 1,931 1,801  
Miscellaneous international 1,212 831  
Miscellaneous U.S.  1,083    
Income reported for tax purposes 16,826 13,819  
Valuation allowances (1,638) (1,149) $ (775)
Total deferred income taxes net of valuation allowances 15,188 12,670  
Liability      
Depreciation of property, plant and equipment (833) (902)  
Goodwill and intangibles (3,261) (1,252)  
Undistributed foreign earnings (1,492) (1,695)  
Global intangible low-taxed income (1,589) (2,731)  
Miscellaneous U.S.    (4)  
Total deferred income taxes net of valuation allowances $ (7,175) $ (6,584)  
v3.25.0.1
Income taxes - Valuation Allowance Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Valuation Allowance [Roll Forward]    
Beginning of year $ 1,149 $ 775
Provision 451 355
Utilization 0 (116)
Foreign currency translation (46) 25
Net acquisitions / (dispositions/liquidations) 84 110
End of year $ 1,638 $ 1,149
v3.25.0.1
Income taxes - Summary of Activity Related to Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Summary of unrecognized tax benefits      
Beginning of year $ 2,485 $ 3,716 $ 3,210
Increases related to current year tax positions 176 239 523
Increases related to prior period tax positions 129 244 143
Decreases related to prior period tax positions (147) (781) (148)
Settlements (583) (880) (1)
Lapse of statute of limitations (40) (53) (11)
End of year $ 2,020 $ 2,485 $ 3,716
v3.25.0.1
Employee related obligations - Employee Related Obligations (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Employee-related Liabilities [Abstract]    
Pension benefits $ 2,968 $ 3,129
Postretirement benefits 1,920 1,963
Postemployment benefits 2,910 2,527
Deferred compensation 49 68
Total employee obligations 7,847 7,687
Less current benefits payable 592 538
Employee related obligations — non-current $ 7,255 $ 7,149
v3.25.0.1
Employee related obligations - Narrative (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Compensation Related Costs [Abstract]    
Prepaid employee related obligations $ 6,046 $ 4,992
v3.25.0.1
Pensions and other benefit plans - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Defined Benefit Plan Disclosure [Line Items]      
Percentage of corridor of greater of market value of assets 10.00%    
Accumulated benefit obligation unfunded plans $ 5,800 $ 5,800  
Projected benefit obligation, unfunded plans 6,100 6,100  
Plan with accumulated benefit obligation in excess of plan assets, plan assets 3,200 3,100  
Fair value of company's common stock directly held in plan assets 13 14  
Retirement Plans      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 33,395 33,607 $ 31,496
Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 93 86 $ 78
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Contribution to pension plans 122    
International Plans      
Defined Benefit Plan Disclosure [Line Items]      
Contribution to pension plans 107    
Commingled funds | Level 2 | Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets $ 93 $ 86  
Maximum | Retirement Plans      
Defined Benefit Plan Disclosure [Line Items]      
Retirement plan benefits employee compensation period 5 years    
v3.25.0.1
Pensions and other benefit plans - Components of Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Retirement Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 948 $ 893 $ 1,319
Interest cost 1,402 1,437 908
Expected return on plan assets (2,560) (2,716) (2,756)
Amortization of prior service cost (184) (184) (184)
Recognized actuarial losses (gains) 174 (199) 650
Curtailments and settlements (2) 93 1
Net periodic benefit cost (credit) (222) (676) (62)
Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 277 264 320
Interest cost 209 214 104
Expected return on plan assets (7) (7) (8)
Amortization of prior service cost (2) (2) (5)
Recognized actuarial losses (gains) 53 23 122
Curtailments and settlements 0 (5) 0
Net periodic benefit cost (credit) $ 530 $ 487 $ 533
v3.25.0.1
Pensions and other benefit plans - Rates Used to Develop Actuarial Present Value of Projected Benefit Obligation (Details)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Retirement Plans      
Net Periodic Benefit Cost      
Service cost discount rate 4.39% 4.85% 2.46%
Interest cost discount rate 4.95% 5.25% 2.80%
Rate of increase in compensation levels 3.70% 3.71% 4.02%
Expected long-term rate of return on plan assets 7.25% 7.21% 7.25%
Benefit Obligation      
Discount rate 4.95% 4.58% 5.01%
Rate of increase in compensation levels 3.70% 3.69% 4.00%
Other Benefit Plans      
Net Periodic Benefit Cost      
Service cost discount rate 5.09% 5.40% 2.59%
Interest cost discount rate 5.12% 5.43% 2.64%
Rate of increase in compensation levels 4.22% 4.22% 4.21%
Benefit Obligation      
Discount rate 5.54% 5.11% 5.42%
Rate of increase in compensation levels 4.22% 4.22% 4.21%
v3.25.0.1
Pensions and other benefit plans - Assumed Health Care Cost Trend Rates (Details)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]    
Healthcare cost trend rate assumed for next year 9.33% 13.90%
Rate to which the cost trend rate is assumed to decline (ultimate trend) 4.02% 4.00%
Year the rate reaches the ultimate trend rate 2048 2048
v3.25.0.1
Pensions and other benefit plans - Schedule of Net Funded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Amounts Recognized in the Company’s Balance Sheet consist of the following:      
Non-current assets $ 6,046 $ 4,992  
Current liabilities (592) (538)  
Non-current liabilities (7,255) (7,149)  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]      
Transferred to group annuity contract 400 800  
Retirement Plans      
Change in Benefit Obligation      
Projected benefit obligation - beginning of year 31,744 29,390  
Service cost 948 893 $ 1,319
Interest cost 1,402 1,437 908
Plan participant contributions 75 73  
Amendments 0 (6)  
Actuarial (gains) losses (1,245) 2,068  
Divestitures & acquisitions 0 (352)  
Curtailments, settlements & restructuring (121) (238)  
Benefits paid from plan (1,801) (2,122)  
Effect of exchange rates (685) 601  
Projected benefit obligation - end of year 30,317 31,744 29,390
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value — beginning of year 33,607 31,496  
Actual return on plan assets 2,113 3,951  
Company contributions 229 268  
Plan participant contributions 75 73  
Settlements (114) (176)  
Divestitures & acquisitions 0 (509)  
Benefits paid from plan assets (1,801) (2,122)  
Effect of exchange rates (714) 626  
Plan assets at fair value - End of year 33,395 33,607 31,496
Funded status - end of year 3,078 1,863  
Amounts Recognized in the Company’s Balance Sheet consist of the following:      
Non-current assets 6,046 4,992  
Current liabilities (136) (119)  
Non-current liabilities (2,832) (3,010)  
Total recognized in the consolidated balance sheet — end of year 3,078 1,863  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]      
Net actuarial loss 3,903 4,962  
Prior service cost (credit) (1,051) (1,236)  
Unrecognized net transition obligation 0 0  
Total before tax effects 2,852 3,726  
Accumulated Benefit Obligation 28,883 30,139  
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Net periodic benefit cost (credit) (222) (676) (62)
Net actuarial (gain) loss (807) 711  
Amortization of net actuarial loss (172) 199  
Prior service cost (credit) 0 (2)  
Amortization of prior service (cost) credit 184 185  
Effect of exchange rates (79) 103  
Total loss/(income) recognized in other comprehensive income, before tax (874) 1,195  
Total recognized in net periodic benefit cost and other comprehensive income (1,096) 519  
Other Benefit Plans      
Change in Benefit Obligation      
Projected benefit obligation - beginning of year 4,108 4,192  
Service cost 277 264 320
Interest cost 209 214 104
Plan participant contributions 0 0  
Amendments 0 0  
Actuarial (gains) losses 398 469  
Divestitures & acquisitions 0 1  
Curtailments, settlements & restructuring 0 (332)  
Benefits paid from plan (556) (702)  
Effect of exchange rates (11) 2  
Projected benefit obligation - end of year 4,425 4,108 4,192
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value — beginning of year 86 78  
Actual return on plan assets 15 16  
Company contributions 548 694  
Plan participant contributions 0 0  
Settlements 0 0  
Divestitures & acquisitions 0 0  
Benefits paid from plan assets (556) (702)  
Effect of exchange rates 0 0  
Plan assets at fair value - End of year 93 86 78
Funded status - end of year (4,332) (4,022)  
Amounts Recognized in the Company’s Balance Sheet consist of the following:      
Non-current assets 0 0  
Current liabilities (453) (416)  
Non-current liabilities (3,879) (3,606)  
Total recognized in the consolidated balance sheet — end of year (4,332) (4,022)  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]      
Net actuarial loss 691 354  
Prior service cost (credit) (4) (6)  
Unrecognized net transition obligation 0  
Total before tax effects 687 348  
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Net periodic benefit cost (credit) 530 487 $ 533
Net actuarial (gain) loss 389 136  
Amortization of net actuarial loss (53) (22)  
Prior service cost (credit) 0 0  
Amortization of prior service (cost) credit 2 2  
Effect of exchange rates 1 0  
Total loss/(income) recognized in other comprehensive income, before tax 339 116  
Total recognized in net periodic benefit cost and other comprehensive income $ 869 $ 603  
v3.25.0.1
Pensions and other benefit plans - Information Related to the Benefit Obligation and the Fair Value of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Qualified Plans | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets $ 22,250 $ 22,298
Projected Benefit Obligation 18,146 19,152
Accumulated Benefit Obligation 17,726 18,557
Projected Benefit Obligation 4,104 3,146
Accumulated Benefit Obligation 4,524 3,741
Non-Qualified Plans | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets 0 0
Projected Benefit Obligation 1,990 2,037
Accumulated Benefit Obligation 1,949 1,982
Projected Benefit Obligation (1,990) (2,037)
Accumulated Benefit Obligation (1,949) (1,982)
Funded Plans | International Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets 11,145 11,309
Projected Benefit Obligation 10,069 10,431
Accumulated Benefit Obligation 9,115 9,498
Projected Benefit Obligation 1,076 878
Accumulated Benefit Obligation 2,030 1,811
Unfunded Plans | International Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets 0 0
Projected Benefit Obligation 112 124
Accumulated Benefit Obligation 93 102
Projected Benefit Obligation (112) (124)
Accumulated Benefit Obligation $ (93) $ (102)
v3.25.0.1
Pensions and other benefit plans - Projected Future Benefit Payments from Company's Retirement and Other Benefit Plans (Details)
$ in Millions
Dec. 29, 2024
USD ($)
Retirement plans  
Defined Benefit Plan Disclosure [Line Items]  
2024 $ 1,480
2025 1,503
2026 1,604
2027 1,702
2028 1,797
2029-2033 10,401
Other benefit plans   
Defined Benefit Plan Disclosure [Line Items]  
2024 464
2025 478
2026 432
2027 445
2028 462
2029-2033 $ 2,537
v3.25.0.1
Pensions and other benefit plans - Projected Future Minimum Contributions to the Company's U.S. and International Unfunded Retirement Plans (Details)
$ in Millions
Dec. 29, 2024
USD ($)
Retirement Benefits [Abstract]  
2024 $ 133
2025 135
2026 140
2027 145
2028 150
2029-2033 $ 815
v3.25.0.1
Pensions and other benefit plans - Company' Retirement Plan Asset Allocation and Target Allocations (Details)
Dec. 29, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Percent of Plan Assets 100.00% 100.00%
Target Allocation 100.00%  
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Percent of Plan Assets 55.00% 58.00%
Target Allocation 54.00%  
Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Percent of Plan Assets 45.00% 42.00%
Target Allocation 46.00%  
v3.25.0.1
Pensions and other benefit plans - Schedule of Defined Benefit Plans Disclosures (Details) - Retirement plans - USD ($)
$ in Millions
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets $ 33,395 $ 33,607 $ 31,496
Fair Value, Measurements, Recurring      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 33,395 33,607  
Investments Measured at Net Asset Value 10,277 9,967  
Fair Value, Measurements, Recurring | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 7,144 7,776  
Fair Value, Measurements, Recurring | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 15,809 15,729  
Fair Value, Measurements, Recurring | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 165 135  
Fair Value, Measurements, Recurring | Short-term investment funds      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 511 841  
Fair Value, Measurements, Recurring | Short-term investment funds | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 12  
Fair Value, Measurements, Recurring | Short-term investment funds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 511 829  
Fair Value, Measurements, Recurring | Short-term investment funds | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Government and agency securities      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 7,885 5,985  
Fair Value, Measurements, Recurring | Government and agency securities | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Government and agency securities | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 7,885 5,985  
Fair Value, Measurements, Recurring | Government and agency securities | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Debt instruments      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 2,321 3,899  
Fair Value, Measurements, Recurring | Debt instruments | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Debt instruments | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 2,321 3,899  
Fair Value, Measurements, Recurring | Debt instruments | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Equity securities      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 7,144 7,764  
Fair Value, Measurements, Recurring | Equity securities | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 7,144 7,764  
Fair Value, Measurements, Recurring | Equity securities | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Equity securities | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Commingled funds      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 11,231 11,682  
Investments Measured at Net Asset Value 6,190 6,672  
Fair Value, Measurements, Recurring | Commingled funds | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Commingled funds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 5,004 4,967  
Fair Value, Measurements, Recurring | Commingled funds | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 37 43  
Fair Value, Measurements, Recurring | Other assets      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 4,303 3,436  
Investments Measured at Net Asset Value 4,087 3,295  
Fair Value, Measurements, Recurring | Other assets | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 0  
Fair Value, Measurements, Recurring | Other assets | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 88 49  
Fair Value, Measurements, Recurring | Other assets | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets $ 128 $ 92  
v3.25.0.1
Savings plan (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Savings Plan [Abstract]      
Matching contributions $ 282 $ 263 $ 257
v3.25.0.1
Capital and treasury stock - Changes in Treasury Stock (Details) - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Changes in Treasury Stock Shares Outstanding [Roll Forward]      
Treasury Stock, beginning balance (shares) 712,765 506,246 490,878
Employee compensation and stock option plans (shares) (15,027) (15,521) (20,007)
Treasury Stock, ending balance (shares) 712,921 712,765 506,246
Changes in treasury stock      
Treasury Stock, Balance $ 75,662 $ 41,694 $ 39,099
Employee compensation and stock option plans (2,389) (2,529) (3,440)
Repurchase of common stock 2,407 5,054 6,035
Treasury Stock, Ending Balance $ 75,680 $ 75,662 $ 41,694
Treasury Stock Amount      
Changes in Treasury Stock Shares Outstanding [Roll Forward]      
Treasury Stock, beginning balance (shares) 190,955    
Repurchase of common stock (shares) 15,183 31,085 35,375
Treasury Stock, ending balance (shares)   190,955  
Changes in treasury stock      
Treasury Stock, Balance $ 31,418    
Repurchase of common stock 2,407 $ 5,054 $ 6,035
Repurchase of common stock $ 2,407 5,079  
Treasury Stock, Ending Balance   $ 31,418  
v3.25.0.1
Capital and treasury stock - Narrative (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Billions
 12 Months Ended
Jan. 02, 2025
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Sep. 14, 2022
Equity, Class of Treasury Stock [Line Items]          
Common stock, shares issued (in shares)   3,119,843 3,119,843 3,119,843  
Cash dividends paid (in dollars per share)   $ 4.91 $ 4.70 $ 4.45  
Subsequent Event          
Equity, Class of Treasury Stock [Line Items]          
Cash dividend (in dollars per share) $ 1.24        
December 17, 2018 Share Repurchase Program          
Equity, Class of Treasury Stock [Line Items]          
Stock repurchase program, authorized amount         $ 5.0
v3.25.0.1
Accumulated other comprehensive income (loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance $ 68,774 $ 76,804 $ 74,023
Net change 786 (4,741) 91
Ending Balance 71,490 68,774 76,804
Foreign Currency Translation      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (10,149) (11,813) (10,017)
Net change 1,708 (3,221) (1,796)
Kenvue Separation/IPO   (4,885)  
Ending Balance (8,441) (10,149) (11,813)
Gain/ (Loss) On Securities      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (1) (27) (3)
Net change 2 26 (24)
Ending Balance 1 (1) (27)
Employee Benefit Plans      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (2,000) (897) (2,702)
Net change 449 (1,399) 1,805
Kenvue Separation/IPO   (296)  
Ending Balance (1,551) (2,000) (897)
Gain/ (Loss) On Derivatives & Hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (377) (230) (336)
Net change (1,373) (147) 106
Ending Balance (1,750) (377) (230)
Accumulated Other Comprehensive Income (Loss)      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (12,527) (12,967) (13,058)
Net change 786 (4,741) 91
Kenvue Separation/IPO   (5,181)  
Ending Balance $ (11,741) $ (12,527) $ (12,967)
v3.25.0.1
International currency translation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Foreign Currency Translation [Abstract]      
Foreign currency transaction gain (loss), before tax $ (214) $ (366) $ (286)
v3.25.0.1
Earnings per share - Reconciliation of Basic Net Earnings per Share to Diluted Net Earnings per Share (Details) - $ / shares
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Jan. 02, 2022
Reconciliation of basic net earnings per share to diluted net earnings per share        
Basic net earnings per share from continuing operations (in dollars per share) $ 5.84 $ 5.26 $ 6.23  
Basic net earnings per share from discontinued operations (in dollars per share) 0 8.62 0.60  
Basic net earnings per share (in dollars per share) $ 5.84 $ 13.88 $ 6.83  
Average shares outstanding — basic (in shares) 2,407,300,000 2,533,500,000 2,625,200,000  
Potential shares exercisable under stock option plans (in shares) 77,700,000 94,100,000 140,100,000  
Less: shares repurchased under treasury stock method (in shares) (55,600,000) (67,200,000) (101,400,000)  
Average shares outstanding - diluted (in shares) 2,429,400,000 2,560,400,000 2,663,900,000  
Diluted net earnings per share from continuing operations (in dollars per share) $ 5.79 $ 5.20 $ 6.14  
Diluted net earnings per share from discontinuing operations (in dollars per share) 0 8.52 0.59  
Diluted net earnings per share (in dollars per share) $ 5.79 $ 13.72 $ 6.73  
Antidilutive securities excluded from computation of earnings per share (in shares) 54.1 43.0   0.0
v3.25.0.1
Earnings per share - Narrative (Details) - shares
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 02, 2022
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (in shares) 54.1 43.0 0.0
v3.25.0.1
Common stock, stock option plans and stock compensation agreements - Narrative (Details)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 29, 2024
USD ($)
StockBasedCompensationPlans
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Jan. 01, 2023
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of stock-based compensation plans | StockBasedCompensationPlans 1    
Compensation cost charged for Long term incentive plan | $ $ 1,176 $ 1,087 $ 1,028
Total income tax benefit recognized | $ 251 221 177
Exercise of options, tax benefit | $ 94 126 267
Total compensation cost not yet recognized for option | $ $ 1,002 $ 907 $ 866
Weighted average period for total compensation cost not yet recognized 1 year 9 months 21 days 1 year 9 months 18 days 1 year 9 months 18 days
Average fair value of option granted (in dollars per share) | $ / shares $ 27.67 $ 27.85 $ 23.23
Total intrinsic value of options exercised | $ $ 560 $ 729 $ 1,228
Stock options outstanding (in shares) | shares 112,629 112,238 118,672
Stock option average life 5 years 3 months 18 days 5 years 6 months 5 years 9 months 18 days
Stock options exercisable (in shares) | shares   66,998 63,661
Stock options average price (in dollars per share) | $ / shares   $ 123.39 $ 113.06
Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock options expiration period 10 years    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Average fair value of RSU's and PSU's granted (in dollars per share) | $ / shares $ 147.51 $ 152.63 $ 153.67
Fair Value of RSU or PSU units settled | $ $ 833 $ 605 $ 591
Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 3 years    
Average fair value of RSU's and PSU's granted (in dollars per share) | $ / shares $ 133.76 $ 145.17 $ 170.46
Fair Value of RSU or PSU units settled | $ $ 146 $ 140 $ 94
Minimum | Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 6 months    
Minimum | Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 6 months    
Minimum | Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percentage 0.00%    
Maximum | Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 4 years    
Maximum | Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 3 years    
Maximum | Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percentage 200.00%    
2022 Long-Term Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares authorized for issuance under long-term incentive plan (in shares) | shares 150,000    
Shares issued subject to stock options or stock appreciation rights (in shares) | shares 110,000    
Shares subject to full value awards (in shares) | shares 40,000    
Shares subject to full value award, excess (in shares) | shares 40,000    
Shares available for future grants under long-term incentive plan | shares 111,000    
v3.25.0.1
Common stock, stock option plans and stock compensation agreements - Schedule Valuation Assumptions (Details)
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Weighted average assumptions of fair value of options      
Risk-free rate 4.15% 3.74% 1.98%
Expected volatility 17.85% 17.69% 18.00%
Expected life (in years) 7 years 7 years 7 years
Expected dividend yield 3.10% 2.90% 2.70%
v3.25.0.1
Common stock, stock option plans and stock compensation agreements - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Outstanding Shares    
Options outstanding beginning of period (in shares) 112,238  
Options granted (in shares) 13,917  
Options exercised (in shares) (10,771)  
Options canceled/forfeited (in shares) (2,755)  
Options outstanding end of period (in shares) 112,629  
Weighted Average Exercise Price    
Options exercise price beginning of period (in dollars per share) $ 139.88  
Options granted, average exercise price (in dollars per share) 157.92  
Options exercised, average exercise price (in dollars per share) 107.06  
Options canceled/forfeited, average exercise price (in dollars per share) 162.45  
Options exercise price end of period (in dollars per share) $ 144.69  
Aggregate intrinsic value $ 1,129 $ 2,239
v3.25.0.1
Common stock, stock option plans and stock compensation agreements - Summary of Options Outstanding (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Stock options outstanding and exercisable      
Outstanding number of Options (in shares) 112,629 112,238 118,672
Outstanding, Average Life 5 years 3 months 18 days 5 years 6 months 5 years 9 months 18 days
Outstanding Average Exercise Price (in dollars per share) $ 144.69    
Exercisable number of Options (in shares) 74,683    
Exercisable, Average Exercise Price (in dollars per share) $ 135.72    
$100.06 - $101.87      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 100.06    
Price Range, Maximum (in dollars per share) $ 101.87    
Outstanding number of Options (in shares) 13,016    
Outstanding, Average Life 9 months 18 days    
Outstanding Average Exercise Price (in dollars per share) $ 101.29    
Exercisable number of Options (in shares) 13,016    
Exercisable, Average Exercise Price (in dollars per share) $ 101.29    
$115.67 - $129.51      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 115.67    
Price Range, Maximum (in dollars per share) $ 129.51    
Outstanding number of Options (in shares) 18,252    
Outstanding, Average Life 2 years 7 months 6 days    
Outstanding Average Exercise Price (in dollars per share) $ 122.49    
Exercisable number of Options (in shares) 18,252    
Exercisable, Average Exercise Price (in dollars per share) $ 122.49    
$131.94 - $151.41      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 131.94    
Price Range, Maximum (in dollars per share) $ 151.41    
Outstanding number of Options (in shares) 25,624    
Outstanding, Average Life 4 years 7 months 6 days    
Outstanding Average Exercise Price (in dollars per share) $ 142.87    
Exercisable number of Options (in shares) 25,624    
Exercisable, Average Exercise Price (in dollars per share) $ 142.87    
$157.92 - $162.75      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 157.92    
Price Range, Maximum (in dollars per share) $ 162.75    
Outstanding number of Options (in shares) 26,391    
Outstanding, Average Life 8 years 7 months 6 days    
Outstanding Average Exercise Price (in dollars per share) $ 160.33    
Exercisable number of Options (in shares) 4,269    
Exercisable, Average Exercise Price (in dollars per share) $ 162.75    
$164.62 - $165.89      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 164.62    
Price Range, Maximum (in dollars per share) $ 165.89    
Outstanding number of Options (in shares) 29,346    
Outstanding, Average Life 6 years 7 months 6 days    
Outstanding Average Exercise Price (in dollars per share) $ 165.29    
Exercisable number of Options (in shares) 13,522    
Exercisable, Average Exercise Price (in dollars per share) $ 164.64    
v3.25.0.1
Common stock, stock option plans and stock compensation agreements - Summary of Restricted Share Units (Details)
shares in Thousands
 12 Months Ended
Dec. 29, 2024
shares
Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]  
Beginning balance (in shares) 12,938
Granted (in shares) 6,331
Issued (in shares) (5,454)
Canceled/forfeited/adjusted (in shares) (774)
Ending balance (in shares) 13,041
Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]  
Beginning balance (in shares) 2,037
Granted (in shares) 906
Issued (in shares) (808)
Canceled/forfeited/adjusted (in shares) (122)
Ending balance (in shares) 2,013
v3.25.0.1
Segments of Business and Geographic Areas - Sales by Segment of Business (Details)
$ in Millions
 12 Months Ended
Dec. 29, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Jan. 01, 2023
USD ($)
Segment
Segment Reporting Information [Line Items]      
Number of segments 2   3
Sales to Customers $ 88,821 $ 85,159 $ 79,990
% Change 4.30% 6.50%  
Innovative Medicine      
Segment Reporting Information [Line Items]      
Sales to Customers $ 56,964 $ 54,759 52,563
% Change 4.00% 4.20%  
Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 17,828 $ 18,052 16,935
% Change (1.20%) 6.60%  
Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,396 $ 4,418 5,449
% Change (23.10%) (18.90%)  
Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 7,115 $ 7,140 6,893
% Change (0.40%) 3.60%  
Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 20,781 $ 17,661 15,983
% Change 17.70% 10.50%  
Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,282 $ 3,815 3,417
% Change 12.30% 11.60%  
Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,562 $ 3,671 3,887
% Change (3.00%) (5.50%)  
MedTech      
Segment Reporting Information [Line Items]      
Sales to Customers $ 31,857 $ 30,400 27,427
% Change 4.80% 10.80%  
MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 7,707 $ 6,350 4,300
% Change 21.40% 47.70%  
MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 9,158 $ 8,942 8,587
% Change 2.40% 4.10%  
MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 9,845 $ 10,037 9,690
% Change (1.90%) 3.60%  
MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,146 $ 5,072 4,849
% Change 1.50% 4.60%  
Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,605 $ 1,839 2,343
% Change (12.80%) (21.50%)  
Simponi/Simponi Aria | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,190 $ 2,197 2,184
% Change (0.30%) 0.60%  
Stelara | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 10,361 $ 10,858 9,723
% Change (4.60%) 11.70%  
Tremfya | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,670 $ 3,147 2,668
% Change 16.60% 17.90%  
Other Immunology | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3 $ 11 17
% Change (74.10%) (33.80%)  
COVID-19 | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 198 $ 1,117 2,179
% Change (82.40%) (48.80%)  
EDURANT/rilpivirine | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,272 $ 1,150 1,008
% Change 10.60% 14.10%  
PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,712 $ 1,854 1,943
% Change (7.70%) (4.60%)  
Other Infectious Diseases | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 214 $ 297 318
% Change (27.60%) (6.70%)  
CONCERTA/Methylphenidate | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 641 $ 783 644
% Change (18.10%) 21.60%  
INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,222 $ 4,115 4,140
% Change 2.60% (0.60%)  
SPRAVATO | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,077 $ 689 374
% Change 56.40% 84.10%  
OTHER NEUROSCIENCE | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,175 $ 1,553 1,734
% Change (24.30%) (10.40%)  
CARVYKTI | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 963 $ 500 133
% Change 92.70%    
DARZALEX | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 11,670 $ 9,744 7,977
% Change 19.80% 22.20%  
ERLEADA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,999 $ 2,387 1,881
% Change 25.60% 26.90%  
IMBRUVICA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,038 $ 3,264 3,784
% Change (6.90%) (13.70%)  
TECVAYLI | Pharmaceutical | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 549 $ 395 15
% Change 38.80%    
ZYTIGA/abiraterone acetate | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 631 $ 887 1,770
% Change (28.80%) (49.90%)  
Other Oncology | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 931 $ 484 423
% Change 92.50% 14.40%  
OPSUMIT | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,184 $ 1,973 1,783
% Change 10.70% 10.60%  
UPTRAVI | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,817 $ 1,582 1,322
% Change 14.90% 19.70%  
Other Pulmonary Hypertension | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 281 $ 260 313
% Change 7.90% (16.70%)  
XARELTO | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,373 $ 2,365 2,473
% Change 0.30% (4.40%)  
Other | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,189 $ 1,306 1,414
% Change (8.90%) (7.60%)  
ELECTROPHYSIOLOGY | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,267 $ 4,688 3,937
% Change 12.30% 19.10%  
Abiomed | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,496 $ 1,306 31
% Change 14.50%    
Shockwave Medical, Inc. | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 564 0 0
other cardiovascular | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 380 $ 356 332
% Change 6.90% 7.10%  
HIPS | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,638 $ 1,560 1,514
% Change 5.00% 3.00%  
KNEES | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,545 $ 1,456 1,359
% Change 6.10% 7.10%  
TRAUMA | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,049 $ 2,979 2,871
% Change 2.30% 3.80%  
SPINE,SPORTS & OTHER | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,926 $ 2,947 2,843
% Change (0.70%) 3.70%  
ADVANCED | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,488 $ 4,671 4,569
% Change (3.90%) 2.20%  
GENERAL | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,358 $ 5,366 5,121
% Change (0.20%) 4.80%  
CONTACT LENSES/OTHER | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,733 $ 3,702 3,543
% Change 0.80% 4.50%  
SURGICAL | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,413 $ 1,370 1,306
% Change 3.20% 4.90%  
United States      
Segment Reporting Information [Line Items]      
Sales to Customers $ 50,302 $ 46,444 41,981
% Change 8.30% 10.60%  
United States | Innovative Medicine      
Segment Reporting Information [Line Items]      
Sales to Customers $ 33,970 $ 31,169 28,604
% Change 9.00% 9.00%  
United States | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 11,355 $ 11,539 11,036
% Change (1.60%) 4.60%  
United States | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,354 $ 1,500 1,680
% Change (9.80%) (10.70%)  
United States | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,398 $ 4,065 3,570
% Change 8.20% 13.90%  
United States | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 10,854 $ 8,462 6,930
% Change 28.30% 22.10%  
United States | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,143 $ 2,697 2,346
% Change 16.50% 15.00%  
United States | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,866 $ 2,906 3,042
% Change (1.40%) (4.50%)  
United States | MedTech      
Segment Reporting Information [Line Items]      
Sales to Customers $ 16,332 $ 15,275 13,377
% Change 6.90% 14.20%  
United States | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,513 $ 3,633 2,169
% Change 24.20% 67.50%  
United States | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,689 $ 5,525 5,321
% Change 3.00% 3.80%  
United States | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,003 $ 4,031 3,897
% Change (0.70%) 3.40%  
United States | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,128 $ 2,086 1,990
% Change 2.00% 4.80%  
United States | Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,009 $ 1,143 1,417
% Change (11.70%) (19.30%)  
United States | Simponi/Simponi Aria | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,082 $ 1,124 1,166
% Change (3.80%) (3.60%)  
United States | Stelara | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 6,720 $ 6,966 6,388
% Change (3.50%) 9.00%  
United States | Tremfya | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,443 $ 2,147 1,844
% Change 13.70% 16.50%  
United States | Other Immunology | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3 $ 11 17
% Change (74.10%) (33.80%)  
United States | COVID-19 | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 0 $ 0 120
% Change 0.00%    
United States | EDURANT/rilpivirine | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 31 $ 35 36
% Change (10.00%) (3.70%)  
United States | PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,311 $ 1,446 1,494
% Change (9.40%) (3.20%)  
United States | Other Infectious Diseases | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 11 $ 19 30
% Change (41.00%) (34.50%)  
United States | CONCERTA/Methylphenidate | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 134 $ 230 151
% Change (41.70%) 52.50%  
United States | INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,125 $ 2,897 2,714
% Change 7.90% 6.70%  
United States | SPRAVATO | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 929 $ 589 328
% Change 57.80% 79.70%  
United States | OTHER NEUROSCIENCE | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 210 $ 349 376
% Change (39.80%) (7.30%)  
United States | CARVYKTI | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 869 $ 469 133
% Change 85.20%    
United States | DARZALEX | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 6,588 $ 5,277 4,210
% Change 24.80% 25.40%  
United States | ERLEADA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,282 $ 1,065 968
% Change 20.30% 10.00%  
United States | IMBRUVICA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,020 $ 1,051 1,390
% Change (3.00%) (24.40%)  
United States | TECVAYLI | Pharmaceutical | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 418 $ 334 12
% Change 25.30%    
United States | ZYTIGA/abiraterone acetate | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 34 $ 50 74
% Change (32.20%) (32.10%)  
United States | Other Oncology | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 643 $ 215 144
% Change   49.30%  
United States | OPSUMIT | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,520 $ 1,292 1,132
% Change 17.70% 14.10%  
United States | UPTRAVI | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,511 $ 1,326 1,104
% Change 13.90% 20.10%  
United States | Other Pulmonary Hypertension | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 112 $ 79 110
% Change 41.80% (28.60%)  
United States | XARELTO | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,373 $ 2,365 2,473
% Change 0.30% (4.40%)  
United States | Other | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 494 $ 541 569
% Change (8.80%) (5.00%)  
United States | ELECTROPHYSIOLOGY | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,738 $ 2,458 2,036
% Change 11.40% 20.70%  
United States | Abiomed | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,213 $ 1,066 31
% Change 13.70%    
United States | Shockwave Medical, Inc. | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 442 0 0
United States | other cardiovascular | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 120 $ 109 102
% Change 10.70% 6.70%  
United States | HIPS | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,057 $ 996 943
% Change 6.20% 5.60%  
United States | KNEES | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 922 $ 896 851
% Change 2.90% 5.30%  
United States | TRAUMA | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,013 $ 1,949 1,882
% Change 3.30% 3.60%  
United States | SPINE,SPORTS & OTHER | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,696 $ 1,684 1,645
% Change 0.70% 2.40%  
United States | ADVANCED | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,838 $ 1,833 1,784
% Change 0.20% 2.80%  
United States | GENERAL | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,165 $ 2,198 2,113
% Change (1.50%) 4.00%  
United States | CONTACT LENSES/OTHER | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,684 $ 1,626 1,522
% Change 3.60% 6.80%  
United States | SURGICAL | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 444 $ 460 468
% Change (3.40%) (1.80%)  
Non-US      
Segment Reporting Information [Line Items]      
Sales to Customers $ 38,519 $ 38,715 38,009
% Change (0.50%) 1.90%  
Non-US | Innovative Medicine      
Segment Reporting Information [Line Items]      
Sales to Customers $ 22,994 $ 23,590 23,959
% Change (2.50%) (1.50%)  
Non-US | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 6,473 $ 6,513 5,899
% Change (0.60%) 10.40%  
Non-US | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,042 $ 2,918 3,769
% Change (30.00%) (22.60%)  
Non-US | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,718 $ 3,076 3,323
% Change (11.60%) (7.50%)  
Non-US | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 9,926 $ 9,199 9,052
% Change 7.90% 1.60%  
Non-US | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,140 $ 1,117 1,071
% Change 2.00% 4.30%  
Non-US | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 696 $ 765 845
% Change (9.10%) (9.40%)  
Non-US | MedTech      
Segment Reporting Information [Line Items]      
Sales to Customers $ 15,525 $ 15,125 14,050
% Change 2.60% 7.70%  
Non-US | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,194 $ 2,717 2,131
% Change 17.60% 27.50%  
Non-US | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,470 $ 3,417 3,267
% Change 1.50% 4.60%  
Non-US | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,842 $ 6,006 5,793
% Change (2.70%) 3.70%  
Non-US | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,018 $ 2,986 2,859
% Change 1.10% 4.50%  
Non-US | Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 497 $ 549 722
% Change (9.50%) (23.90%)  
Non-US | Simponi/Simponi Aria | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,108 $ 1,073 1,017
% Change 3.30% 5.40%  
Non-US | Stelara | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,641 $ 3,892 3,335
% Change (6.40%) 16.70%  
Non-US | Tremfya | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,227 $ 999 824
% Change 22.80% 21.20%  
Non-US | Other Immunology | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 0 $ 0 0
% Change 0.00%    
Non-US | COVID-19 | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 198 $ 1,117 2,059
% Change (82.40%) (45.80%)  
Non-US | EDURANT/rilpivirine | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,241 $ 1,115 972
% Change 11.20% 14.80%  
Non-US | PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 401 $ 408 449
% Change (1.70%) (9.20%)  
Non-US | Other Infectious Diseases | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 203 $ 278 289
% Change (26.70%) (3.80%)  
Non-US | CONCERTA/Methylphenidate | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 507 $ 554 493
% Change (8.40%) 12.20%  
Non-US | INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,097 $ 1,218 1,426
% Change (9.90%) (14.60%)  
Non-US | SPRAVATO | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 148 $ 100 46
% Change 48.20%    
Non-US | OTHER NEUROSCIENCE | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 965 $ 1,204 1,358
% Change (19.80%) (11.30%)  
Non-US | CARVYKTI | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 94 $ 30 0
Non-US | DARZALEX | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,082 $ 4,467 3,767
% Change 13.80% 18.60%  
Non-US | ERLEADA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,717 $ 1,322 913
% Change 29.80% 44.80%  
Non-US | IMBRUVICA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,018 $ 2,214 2,394
% Change (8.80%) (7.50%)  
Non-US | TECVAYLI | Pharmaceutical | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 131 $ 61 3
Non-US | ZYTIGA/abiraterone acetate | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 597 $ 837 1,696
% Change (28.60%) (50.70%)  
Non-US | Other Oncology | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 288 $ 269 280
% Change 7.10% (3.90%)  
Non-US | OPSUMIT | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 664 $ 681 651
% Change (2.40%) 4.60%  
Non-US | UPTRAVI | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 307 $ 255 218
% Change 20.10% 17.30%  
Non-US | Other Pulmonary Hypertension | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 169 $ 182 202
% Change (6.90%) (10.30%)  
Non-US | XARELTO | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 0 $ 0 0
% Change 0.00% 0.00%  
Non-US | Other | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 696 $ 765 845
% Change (9.10%) (9.40%)  
Non-US | ELECTROPHYSIOLOGY | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,529 $ 2,230 1,901
% Change 13.40% 17.30%  
Non-US | Abiomed | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 284 $ 240 0
% Change 18.20%    
Non-US | Shockwave Medical, Inc. | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 122 0 0
Non-US | other cardiovascular | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 260 $ 247 230
% Change 5.30% 7.30%  
Non-US | HIPS | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 581 $ 564 571
% Change 3.00% (1.20%)  
Non-US | KNEES | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 623 $ 559 508
% Change 11.30% 10.20%  
Non-US | TRAUMA | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,036 $ 1,030 989
% Change 0.60% 4.10%  
Non-US | SPINE,SPORTS & OTHER | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,230 $ 1,263 1,198
% Change (2.60%) 5.40%  
Non-US | ADVANCED | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,650 $ 2,837 2,785
% Change (6.60%) 1.90%  
Non-US | GENERAL | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,192 $ 3,168 3,008
% Change 0.80% 5.30%  
Non-US | CONTACT LENSES/OTHER | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,049 $ 2,076 2,022
% Change (1.30%) 2.70%  
Non-US | SURGICAL | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 969 $ 910 837
% Change 6.50% 8.60%  
UNITED STATES Exports | Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 98 $ 147 $ 204
% Change (33.00%) (28.00%)  
v3.25.0.1
Segments of Business and Geographic Areas - Income Before Tax by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers $ 88,821 $ 85,159 $ 79,990
Cost of products sold 27,471 26,553 24,596
Selling, marketing and administrative expenses 22,869 21,512 20,246
Research and development expense 17,232 15,085 14,135
Other (income) expense, net (4,694) (6,634) (810)
Earnings before provision for taxes on income 16,687 15,062 19,359
Less: Expense not allocated to segments 5,972 7,853 735
Operating Segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 88,821 85,159 79,990
Earnings before provision for taxes on income 22,659 22,915 20,094
Innovative Medicine      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 56,964 54,759 52,563
Innovative Medicine | Operating Segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 56,964 54,759 52,563
Cost of products sold 14,036 13,715 14,066
Selling, marketing and administrative expenses 10,906 9,842 9,714
Research and development expense 13,529 11,963 11,642
Other (income) expense, net (426) 993 1,494
Earnings before provision for taxes on income 18,919 18,246 15,647
MedTech      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 31,857 30,400 27,427
MedTech | Operating Segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 31,857 30,400 27,427
Cost of products sold 13,345 12,722 10,397
Selling, marketing and administrative expenses 10,812 10,476 9,537
Research and development expense 3,703 3,122 2,493
Other (income) expense, net 257 (589) 553
Earnings before provision for taxes on income $ 3,740 $ 4,669 $ 4,447
v3.25.0.1
Segments of Business and Geographic Areas - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income $ 16,687 $ 15,062 $ 19,359
Identifiable Assets 180,104 167,558  
Additions to Property, Plant & Equipment 4,424 4,543 4,009
Depreciation and Amortization 7,339 7,486 6,970
Equity securities, FV-NI, gain (loss) 400 400  
Proceeds from Royalties Received 300    
Restructuring 234 489 275
Acquisition related costs     300
Yellow Jersey Therapeutics      
Segment Reporting Information [Line Items]      
Payments to Acquire in Process Research and Development 1,250    
Baby Powder | Talc      
Segment Reporting Information [Line Items]      
Loss contingency, loss in period 5,100 7,000  
Innovative Medicine      
Segment Reporting Information [Line Items]      
Restructuring 102   100
Gain (loss) on divestiture   (200)  
Litigation expense     100
Innovative Medicine | Momenta      
Segment Reporting Information [Line Items]      
Impairment of intangible assets, excluding goodwill 200 200  
MedTech      
Segment Reporting Information [Line Items]      
Restructuring     300
Acquisition related costs 1,000 200  
Gain (loss) on divestiture 200    
Regulation charge 200 300 300
Litigation expense 300   600
MedTech | Laminar      
Segment Reporting Information [Line Items]      
Payments to Acquire in Process Research and Development   400  
MedTech | V-Wave Ltd.      
Segment Reporting Information [Line Items]      
Payments to Acquire in Process Research and Development 500    
Segments Total      
Segment Reporting Information [Line Items]      
Identifiable Assets 141,392 133,034  
Additions to Property, Plant & Equipment 4,153 4,025 3,494
Depreciation and Amortization 6,997 6,790 5,989
Consumer Health      
Segment Reporting Information [Line Items]      
Additions to Property, Plant & Equipment 0 162 303
Depreciation and Amortization 0 383 641
Operating Segments      
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income 22,659 22,915 20,094
Restructuring 269 798  
Operating Segments | Innovative Medicine      
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income 18,919 18,246 15,647
Identifiable Assets 57,070 58,324  
Additions to Property, Plant & Equipment 1,710 1,653 1,374
Depreciation and Amortization 3,760 3,847 3,687
Restructuring 102 479  
Supplies expense 100 700 1,500
Operating Segments | MedTech      
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income 3,740 4,669 4,447
Identifiable Assets 84,322 74,710  
Additions to Property, Plant & Equipment 2,443 2,372 2,120
Depreciation and Amortization 3,237 2,943 2,302
Restructuring 167 319  
Segment Reporting, Reconciling Item, Corporate Nonsegment | General Corporate      
Segment Reporting Information [Line Items]      
Identifiable Assets 38,712 34,524  
Additions to Property, Plant & Equipment 271 356 212
Depreciation and Amortization $ 342 $ 313 $ 340
v3.25.0.1
Segments of Business and Geographic Areas - Schedule of Segment Reporting By Geographic Area (Details)
$ in Millions
 12 Months Ended
Dec. 29, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Jan. 01, 2023
USD ($)
Segment
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers $ 88,821 $ 85,159 $ 79,990
Assets $ 180,104 167,558  
Number of segments 2   3
Equity securities, FV-NI, gain (loss) $ (400) (400)  
Restructuring 234 489 $ 275
Gain (loss) related to litigation settlement   100  
Research and development in process $ 211 313 783
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration] Other (income) expense, net    
Property, Plant and Equipment      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets $ 20,518 19,898  
Other Intangible Assets      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets 81,818 70,733  
bermekimab | In Process Research and Development      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Impairment of intangible assets, excluding goodwill     $ 800
Baby Powder | Talc      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Loss contingency, loss in period $ 5,100 $ 7,000  
Wholesaler 1 | Sales Revenue, Net | Wholesaler Concentration Risk      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Concentration risk (as a percent) 20.50% 18.20% 18.90%
Wholesaler 2 | Sales Revenue, Net | Wholesaler Concentration Risk      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Concentration risk (as a percent) 15.60% 15.10% 15.00%
Wholesaler 3 | Sales Revenue, Net | Wholesaler Concentration Risk      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Concentration risk (as a percent) 12.30% 14.20% 13.80%
Innovative Medicine      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers $ 56,964 $ 54,759 $ 52,563
Restructuring 102   100
Realized gain (loss) 100 (400) (700)
Gain (loss) related to litigation settlement   100  
Gain (loss) on divestiture   (200)  
Litigation expense     100
Innovative Medicine | Momenta      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Impairment of intangible assets, excluding goodwill 200 200  
MedTech      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 31,857 30,400 27,427
Restructuring     300
Gain (loss) on divestiture 200    
Acquisition costs, period cost 300 200 300
Regulation charge 200 300 300
Litigation expense 300   600
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 50,302 46,444 41,981
United States | Innovative Medicine      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 33,970 31,169 28,604
United States | MedTech      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 16,332 15,275 13,377
Operating Segments      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 88,821 85,159 79,990
Long-Lived Assets 101,119 89,439  
Restructuring 269 798  
Operating Segments | Innovative Medicine      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 56,964 54,759 52,563
Assets 57,070 58,324  
Supplies expense 100 700 1,500
Restructuring 102 479  
Operating Segments | MedTech      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 31,857 30,400 27,427
Assets 84,322 74,710  
Restructuring 167 319  
Operating Segments | United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 50,302 46,444 41,981
Long-Lived Assets 70,670 54,832  
Operating Segments | Europe      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 20,212 20,410 20,664
Long-Lived Assets 27,267 31,616  
Operating Segments | Western Hemisphere excluding U.S.       
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 4,714 4,549 4,108
Long-Lived Assets 1,728 1,491  
Operating Segments | Asia-Pacific, Africa      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 13,593 13,756 $ 13,237
Long-Lived Assets 1,454 1,500  
Segment Reporting, Reconciling Item, Corporate Nonsegment      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Other non long-lived assets 77,768 76,927  
Segment Reporting, Reconciling Item, Corporate Nonsegment | General Corporate      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets 1,217 1,192  
Assets $ 38,712 $ 34,524  
v3.25.0.1
Acquisitions and divestitures - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 2 Months Ended 12 Months Ended
Oct. 08, 2024
Jul. 11, 2024
Jun. 20, 2024
May 31, 2024
Dec. 22, 2022
Feb. 13, 2025
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Business Acquisition [Line Items]                  
Payments to acquire businesses, gross             $ 15,100 $ 17,700  
Acquisitions, net of cash acquired (Note 18)             15,146 0 $ 17,652
Goodwill, related to acquisitions             8,209 0  
Contingent Consideration             1,217 1,092  
Acquisition related costs                 300
Dividends payable, amount per share (in dollars per share)         $ 8.75        
Research and development in process             211 313 783
Intangible assets useful life         14 years        
Proceeds from divestiture of brands               200 0
Asset, held-for-sale, not part of disposal group               300  
Goodwill, measurement period adjustment             200    
Acclarent                  
Business Acquisition [Line Items]                  
Proceeds from divestiture of brands             300    
Ponvory                  
Business Acquisition [Line Items]                  
Proceeds from divestiture of brands             200    
V-Wave Ltd.                  
Business Acquisition [Line Items]                  
Consideration transferred $ 600                
IPR&D charge 500                
Yellow Jersey Therapeutics                  
Business Acquisition [Line Items]                  
Consideration transferred   $ 1,250              
IPR&D charge   $ 1,250              
Laminar                  
Business Acquisition [Line Items]                  
Consideration transferred               400  
IPR&D charge               400  
MedTech                  
Business Acquisition [Line Items]                  
Goodwill, related to acquisitions             7,569 0  
Acquisition related costs             1,000 200  
Acquisition costs, period cost             $ 300 $ 200 300
Maximum | V-Wave Ltd.                  
Business Acquisition [Line Items]                  
Consideration transferred $ 1,100                
Class I Recommendation For Impella                  
Business Acquisition [Line Items]                  
Dividends payable, amount per share (in dollars per share)         $ 10.00        
Intra-Cellular Therapies, Inc. | Forecast                  
Business Acquisition [Line Items]                  
Acquisition price (in dollars per share)           $ 132.00      
Equity interests issued and issuable           $ 14,600      
Ambrx                  
Business Acquisition [Line Items]                  
Acquisition price (in dollars per share)             $ 28.00    
Equity interests issued and issuable             $ 2,000    
Acquisitions, net of cash acquired (Note 18)             1,800    
Other assets assumed             2,300    
Intangible assets assumed             1,900    
Goodwill, related to acquisitions             300    
Total liabilities assumed             $ 500    
Discount rate             17.00%    
Deferred taxes             $ 400    
Ambrx | Minimum                  
Business Acquisition [Line Items]                  
Probability of success factor             40.00%    
Ambrx | Maximum                  
Business Acquisition [Line Items]                  
Probability of success factor             70.00%    
Abiomed                  
Business Acquisition [Line Items]                  
Acquisition price (in dollars per share)         $ 380.00        
Equity interests issued and issuable         $ 17,100        
Other assets assumed             $ 20,100    
Goodwill, related to acquisitions             11,100    
Total liabilities assumed             3,000    
Contingent Consideration             700   $ 704
Discount rate         9.50%        
Cash and equivalents         $ 16,500        
Dividends payable, amount per share (in dollars per share)         $ 17.50        
Cash acquired from acquisition             300    
Finite-lived intangible assets acquired             6,600    
Research and development in process             1,100    
Marketable securities assumed             600    
Deferred taxes             2,000    
Abiomed | Minimum                  
Business Acquisition [Line Items]                  
Probability of success factor         52.00%        
Abiomed | Maximum                  
Business Acquisition [Line Items]                  
Probability of success factor         70.00%        
Abiomed | Impella                  
Business Acquisition [Line Items]                  
Dividends payable, amount per share (in dollars per share)         $ 7.50        
Abiomed | Non-Tradeable Contingent Value Right                  
Business Acquisition [Line Items]                  
Non-tradeable contingent value right (in dollars per share)         $ 35.00        
Non-tradeable contingent value right         $ 1,600        
Contingent consideration         $ 3,700        
Proteologix                  
Business Acquisition [Line Items]                  
Acquisitions, net of cash acquired (Note 18)     $ 800            
Other assets assumed     1,200            
Intangible assets assumed     900            
Goodwill, related to acquisitions     300            
Total liabilities assumed     300            
Contingent Consideration     $ 100       105    
Discount rate     16.00%            
Acquisition related costs             0    
Proteologix | Minimum                  
Business Acquisition [Line Items]                  
Probability of success factor     30.00%            
Proteologix | Maximum                  
Business Acquisition [Line Items]                  
Probability of success factor     45.00%            
Shockwave Medical, Inc.                  
Business Acquisition [Line Items]                  
Acquisition price (in dollars per share)       $ 335.00          
Equity interests issued and issuable       $ 200          
Other assets assumed       15,500     15,500    
Intangible assets assumed       600     600    
Total liabilities assumed       $ 2,900     2,900    
Discount rate       9.00%          
Acquisition related costs             900    
Equity interest in acquiree, remeasurement loss             400    
Equity awards             500    
Weighted average useful life       14 years          
Cash and equivalents       $ 1,100     1,100    
Deferred taxes       $ 1,500     $ 1,500    
Shockwave Medical, Inc. | Minimum                  
Business Acquisition [Line Items]                  
Probability of success factor       50.00%          
v3.25.0.1
Acquisitions and divestitures (Details) - USD ($)
$ in Millions
 1 Months Ended
Jun. 29, 2024
Dec. 29, 2024
Jun. 20, 2024
May 31, 2024
Dec. 31, 2023
Jan. 01, 2023
Assets acquired:            
Goodwill   $ 44,200     $ 36,558 $ 36,047
Shockwave Medical, Inc.            
Assets acquired:            
Cash and equivalents   1,100   $ 1,100    
Goodwill   7,600   7,500    
Amortizable intangibles   5,300   5,300    
Intangible assets assumed   600   600    
Inventory   500   500    
Other assets   400   500    
Other assets assumed   15,500   15,500    
Liabilities assumed:            
Deferred taxes   1,500   1,500    
Notes payable   1,000   1,000    
Accrued liabilities   400   400    
Total liabilities assumed   2,900   2,900    
Net assets acquired   12,600 $ 13,100 12,600    
Less: Cash acquired   $ 1,100   $ 1,100    
Equity awards settled $ 600          
Settlement of notes payable $ 1,000          
v3.25.0.1
Legal proceedings - Narrative (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Sep. 20, 2024
USD ($)
May 01, 2024
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Jan. 31, 2020
USD ($)
Oct. 31, 2019
USD ($)
Jul. 31, 2018
USD ($)
Dec. 29, 2024
USD ($)
claimant
Sep. 30, 2021
cases
Jul. 04, 2021
USD ($)
May 31, 2021
cases
claimant
Talc                      
Legal Proceeding (Textuals)                      
Product liability contingency, number of claimants | claimant               62,830      
Opioid                      
Legal Proceeding (Textuals)                      
Product liability contingency, number of claimants | claimant               3,500      
Amount reserved for settlement                   $ 5,000.0  
Loss contingency accrual, payment percentage                   70.00%  
Physiomesh                      
Legal Proceeding (Textuals)                      
Product liability contingency, number of claimants | claimant               130      
Judicial Ruling                      
Legal Proceeding (Textuals)                      
Damages awarded         $ 6.8 $ 8,000.0          
Pending Litigation | Physiomesh                      
Legal Proceeding (Textuals)                      
Product liability contingency, number of claimants | claimant                     4,300
Number of pending claims | cases                     3,600
Number of claims within settlement agreement | cases                 3,729    
DePuy ASR U.S. | Settled Litigation                      
Legal Proceeding (Textuals)                      
Number of patients in settlement | claimant               10,000      
Ingham vs. Johnson & Johnson                      
Legal Proceeding (Textuals)                      
Damages awarded       $ 2,100.0     $ 4,700.0        
Loss contingency, damages paid, value     $ 2,500.0                
Talc                      
Legal Proceeding (Textuals)                      
Loss contingency, payment period   25 years                  
Solicitation period   3 months                  
Litigation contingency   $ 6,475.0                  
Damages sought, nominal value   $ 8,000.0                  
Bankruptcy loss contingency, discount rate   4.40%                  
Total claims against company, percent   99.75%                  
Increase in damages sought $ 1,750.0                    
Incremental charges               $ 5,000.0      
Accrual, nominal value               13,500.0      
Amount reserved for settlement               $ 11,600.0      
Mesothelioma and State Claims                      
Legal Proceeding (Textuals)                      
Claims settled, percent   95.00%                  
v3.25.0.1
Legal proceedings - Product Liabilities (Details)
Dec. 29, 2024
claimant
Talc  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 62,830
ASR  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 60
Pinnacle Acetabular Cup System  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 910
Pelvic Meshes  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 5,990
Physiomesh  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 130
Risperdal  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 7
Elmiron  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 2,170
v3.25.0.1
Restructuring - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 234 $ 489 $ 275
MedTech      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges     $ 300
Restructuring Charges | MedTech      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 132 40  
R&D Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 100 500  
Restructuring and Related Cost, Cost Incurred to Date 600    
Orthopaedics Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 200 $ 300  
Restructuring and Related Cost, Cost Incurred to Date 500    
Orthopaedics Restructuring Plan | Minimum      
Restructuring Cost and Reserve [Line Items]      
Pre-tax restructuring charges 700    
Orthopaedics Restructuring Plan | Maximum      
Restructuring Cost and Reserve [Line Items]      
Pre-tax restructuring charges $ 800    
v3.25.0.1
Restructuring - Schedule of Restructuring Reserve (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Restructuring Reserve [Roll Forward]      
Restructuring charges $ 234 $ 489 $ 275
R&D Restructuring Plan      
Restructuring Reserve [Roll Forward]      
Restructuring charges 100 500  
Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 269 798  
Innovative Medicine      
Restructuring Reserve [Roll Forward]      
Restructuring charges 102   100
Innovative Medicine | Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 102 479  
Innovative Medicine | Restructuring Charges      
Restructuring Reserve [Roll Forward]      
Restructuring charges   449  
Innovative Medicine | Costs of Goods and Services Sold      
Restructuring Reserve [Roll Forward]      
Restructuring charges   30  
MedTech      
Restructuring Reserve [Roll Forward]      
Restructuring charges     $ 300
MedTech | Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 167 319  
MedTech | Restructuring Charges      
Restructuring Reserve [Roll Forward]      
Restructuring charges 132 40  
MedTech | Costs of Goods and Services Sold      
Restructuring Reserve [Roll Forward]      
Restructuring charges $ 35 $ 279  
v3.25.0.1
Kenvue separation and discontinued operations - Details (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
May 17, 2024
May 15, 2024
Aug. 23, 2023
May 08, 2023
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Jan. 02, 2022
Jul. 02, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Commercial paper   $ 3,600              
Proceeds from issuance of commercial paper   $ 3,600              
Debt for equity exchange, shares exchanged (in shares) 182,329,550                
Loss on shares exchanged $ 400                
Common stock, par value per share (in usd per share)         $ 1.00 $ 1.00      
Proceeds from Kenvue initial public offering         $ 0 $ 4,241 $ 0    
Realized gain (loss) on investment       $ 2,500          
Common stock received in exchange offer     $ 31,400            
Accumulated other comprehensive loss         11,741 12,527      
Transition service agreement, term     24 months            
Separation costs incurred         145 $ 986   $ 1,089  
Incremental tax cost             $ 500    
Minimum                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Transition manufacturing agreement, term     3 months            
Maximum                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Transition manufacturing agreement, term     5 years            
Consumer Health Business                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Net assets divested     $ 11,600            
Accumulated other comprehensive loss     4,300            
Decrease in noncontrolling interest     1,200            
Noncash gain on exchange offer     $ 21,000            
Kenvue Inc.                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Split-off percentage     80.10%            
Kenvue Inc.                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Stock issued in exchange offer (in shares)     190,955,436            
Kenvue Inc.                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Common stock, par value per share (in usd per share)       $ 0.01          
Sale of stock (in USD per share)       $ 22.00          
Stock issued in exchange offer (in shares)     1,533,830,450            
Johnson & Johnson | Kenvue Inc.                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Percentage ownership after transaction       89.60%          
Common stock, value                 $ 1,300
Percentage ownership after transaction     9.50%            
Equity securities, fair market value     $ 4,300   $ 400        
Johnson & Johnson | Kenvue Inc. | Consumer Health Business                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Noncash gain on exchange offer     $ 2,800            
IPO | Kenvue Inc.                  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                  
Sale of stock, number of shares issued in transaction (in shares)       198,734,444          
Proceeds from Kenvue initial public offering       $ 4,200          
v3.25.0.1
Kenvue separation and discontinued operations - Net Earnings from Discontinued Operation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]      
Sales to customers   $ 10,036 $ 14,953
Cost of products sold   4,369 6,494
Gross profit   5,667 8,459
Selling, marketing and administrative expenses   3,085 4,519
Research and development expense   258 468
Interest Income   (117) 0
Interest expense, net of portion capitalized   199 0
Other (income) expense, net   1,092 1,060
(Gain) on separation of Kenvue $ 0 (20,984) 0
Restructuring   0 46
Earnings from Discontinued Operations Before Provision for Taxes on Income   22,134 2,366
Provision for taxes on income   307 795
Net earnings from Discontinued Operations   $ 21,827 $ 1,571
v3.25.0.1
Kenvue separation and discontinued operations - Depreciation and Amortization of Discontinued Operation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Jan. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]    
Depreciation and Amortization $ 383 $ 641
Capital expenditures $ 162 $ 303