JOHNSON & JOHNSON, 10-K filed on 2/11/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Billions
12 Months Ended
Dec. 28, 2025
Feb. 06, 2026
Jun. 29, 2025
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 28, 2025    
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     $ 367
Entity Common Stock, Shares Outstanding   2,409,898,936  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Part III:
Portions of the registrant’s proxy statement for its 2026 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 --12-28    
Document Fiscal Year Focus 2025    
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 June 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 June 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 June 2044    
Trading Symbol JNJ44    
Security Exchange Name NYSE    
2.700% Notes Due 2029      
Document Information [Line Items]      
Title of 12(b) Security 2.700% Notes Due February 2029    
Trading Symbol JNJ29B    
Security Exchange Name NYSE    
3.050% Notes Due 2033      
Document Information [Line Items]      
Title of 12(b) Security 3.050% Notes Due February 2033    
Trading Symbol JNJ33B    
Security Exchange Name NYSE    
3.350% Notes Due February 2037      
Document Information [Line Items]      
Title of 12(b) Security 3.350% Notes Due February 2037    
Trading Symbol JNJ37B    
Security Exchange Name NYSE    
3.600% Notes Due February 2045      
Document Information [Line Items]      
Title of 12(b) Security 3.600% Notes Due February 2045    
Trading Symbol JNJ45    
Security Exchange Name NYSE    
3.700% Notes Due February 2055      
Document Information [Line Items]      
Title of 12(b) Security 3.700% Notes Due February 2055    
Trading Symbol JNJ55    
Security Exchange Name NYSE    
v3.25.4
Audit Information
12 Months Ended
Dec. 28, 2025
Auditor Information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Florham Park, New Jersey
Auditor Firm ID 238
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Current assets:    
Cash and cash equivalents $ 19,709 $ 24,105
Marketable securities 393 417
Accounts receivable trade, less allowances $183 (2024, $167) 17,178 14,842
Inventories 14,191 12,444
Prepaid expenses and other receivables 4,153 4,085
Total current assets 55,624 55,893
Property, plant and equipment, net 23,169 20,518
Intangible assets, net 50,403 37,618
Goodwill 48,772 44,200
Deferred taxes on income 6,874 10,461
Other assets 14,368 11,414
Total assets 199,210 180,104
Current liabilities    
Loans and notes payable 8,495 5,983
Accounts payable 11,991 10,311
Accrued liabilities 8,594 8,549
Accrued rebates, returns and promotions 19,124 17,580
Accrued compensation and employee related obligations 4,534 4,126
Accrued taxes on income 1,388 3,772
Total current liabilities 54,126 50,321
Long-term debt 39,438 30,651
Deferred taxes on income 6,791 2,448
Employee related obligations 6,957 7,255
Long-term taxes payable 486 390
Other liabilities 9,868 17,549
Total liabilities 117,666 108,614
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) (14,930) (11,741)
Retained earnings and Additional-paid-in-capital 168,978 155,791
Less: common stock held in treasury, at cost (Note 12) (711,904,000 shares and 712,921,000 shares) 75,624 75,680
Total shareholders’ equity 81,544 71,490
Total liabilities and shareholders’ equity $ 199,210 $ 180,104
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Statement of Financial Position [Abstract]    
Allowances for doubtful accounts $ 183 $ 167
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) 711,904,000 712,921,000
v3.25.4
Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Sales to customers $ 94,193 $ 88,821 $ 85,159
Cost of products sold 30,256 27,471 26,553
Gross profit 63,937 61,350 58,606
Selling, marketing and administrative expenses 23,676 22,869 21,512
Research and development expense 14,665 17,232 15,085
In-process research and development impairments 81 211 313
Interest income (1,056) (1,332) (1,261)
Interest expense, net of portion capitalized 971 755 772
Other (income) expense, net (7,209) 4,694 6,634
Restructuring 228 234 489
Earnings before provision for taxes on income 32,581 16,687 15,062
Effective Rate 5,777 2,621 1,736
Net earnings from continuing operations 26,804 14,066 13,326
Net earnings from discontinued operations 0 0 21,827
Net earnings $ 26,804 $ 14,066 $ 35,153
Net earnings per share      
Basic net earnings per share from continuing operations (in dollars per share) $ 11.13 $ 5.84 $ 5.26
Basic net earnings per share from discontinued operations (in dollars per share) 0 0 8.62
Basic (in dollars per share) 11.13 5.84 13.88
Diluted net earnings per share from continuing operations (in dollars per share) 11.03 5.79 5.20
Diluted net earnings per share from discontinuing operations (in dollars per share) 0 0 8.52
Diluted (in dollars per share) $ 11.03 $ 5.79 $ 13.72
Average shares outstanding      
Basic (in shares) 2,407.4 2,407.3 2,533.5
Diluted (in shares) 2,429.4 2,429.4 2,560.4
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings $ 26,804 $ 14,066 $ 35,153
Other comprehensive income (loss), net of tax      
Foreign currency translation (5,506) 1,708 (3,221)
Securities:      
Unrealized holding gain (loss) arising during period (1) 2 26
Reclassifications to earnings 0 0 0
Net change (1) 2 26
Employee benefit plans:      
Prior service credit (cost), net of amortization (144) (154) (149)
Gain (loss), net of amortization 1,130 541 (1,183)
Consumer settlement/ curtailment 0 0 23
Effect of exchange rates (128) 62 (90)
Net change 858 449 (1,399)
Derivatives & hedges:      
Unrealized gain (loss) arising during period 1,953 (511) 422
Reclassifications to earnings (493) (862) (569)
Net change 1,460 (1,373) (147)
Other comprehensive income (loss) (3,189) 786 (4,741)
Comprehensive income $ 23,615 $ 14,852 $ 30,412
v3.25.4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Foreign currency translation $ 2,500 $ (1,100) $ 797
Employee benefits 214 86 (289)
Derivatives & hedges $ 388 $ (365) $ (39)
v3.25.4
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Retained Earnings and Additional paid-in capital
Accumulated Other Comprehensive Income (Loss)
Common Stock Issued Amount
Treasury Stock Amount
Beginning Balance at Jan. 01, 2023 $ 76,804,000 $ 128,345,000 $ (12,967,000) $ 3,120,000 $ (41,694,000)
Net earnings 35,153,000 35,153,000      
Cash dividends paid (11,770,000) (11,770,000)      
Employee compensation and stock option plans 2,193,000 (336,000)     2,529,000
Repurchase of common stock (5,054,000)       (5,054,000)
Other (25,000)       (25,000)
Kenvue Separation /IPO (23,786,000) 2,451,000 5,181,000   (31,418,000)
Other comprehensive income (loss), net of tax (4,741,000)   (4,741,000)    
Ending Balance at Dec. 31, 2023 68,774,000 153,843,000 (12,527,000) 3,120,000 (75,662,000)
Net earnings 14,066,000 14,066,000      
Cash dividends paid (11,823,000) (11,823,000)      
Employee compensation and stock option plans 2,094,000 (295,000)     2,389,000
Repurchase of common stock (2,407,000)       (2,407,000)
Other comprehensive income (loss), net of tax 786,000   786,000    
Ending Balance at Dec. 29, 2024 71,490,000 155,791,000 (11,741,000) 3,120,000 (75,680,000)
Net earnings 26,804,000 26,804,000      
Cash dividends paid (12,381,000) (12,381,000)      
Employee compensation and stock option plans 4,773,000 (1,236,000)     6,009,000
Repurchase of common stock (5,953,000)       (5,953,000)
Other comprehensive income (loss), net of tax (3,189,000)   (3,189,000)    
Ending Balance at Dec. 28, 2025 $ 81,544,000 $ 168,978,000 $ (14,930,000) $ 3,120,000 $ (75,624,000)
v3.25.4
Consolidated Statements of Equity (Parenthetical) - $ / shares
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Cash dividends paid (in dollars per share) $ 5.14 $ 4.91 $ 4.70
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net earnings $ 26,804 $ 14,066 $ 35,153
Adjustments to reconcile net earnings to cash flows from operating activities:      
Depreciation and amortization of property and intangibles 7,503 7,339 7,486
Stock based compensation 1,354 1,176 1,162
Asset write-downs 204 405 1,295
Charges for acquired in-process research and development 109 1,841 483
(Gain) on separation of Kenvue 0 0 (20,984)
Net gain on sale of assets/businesses (263) (226) (117)
Deferred tax provision 1,538 (2,183) (4,194)
Credit losses and accounts receivable allowances (1) 11 0
Changes in assets and liabilities, net of effects from acquisitions and divestitures:      
Increase in accounts receivable (1,781) (406) (624)
Increase in inventories (1,450) (1,128) (1,323)
Increase in accounts payable and accrued liabilities 2,377 1,621 2,346
(Increase)/Decrease in other current and non-current assets (6,167) 1,717 (3,480)
(Decrease)/Increase in other current and non-current liabilities (5,697) 33 5,588
Net cash flows from operating activities 24,530 24,266 22,791
Cash flows (used by) from investing activities      
Additions to property, plant and equipment (4,832) (4,424) (4,543)
Proceeds from the disposal of assets/businesses, net 720 675 358
Acquisitions, net of cash acquired (17,541) (15,146) 0
Acquired in-process research and development/related milestones (Note 18) (385) (1,783) (470)
Purchases of investments (920) (1,726) (10,906)
Sales of investments 1,661 2,462 19,390
Credit support agreements activity, net (2,129) 1,517 (2,963)
Other (including capitalized licenses and milestones) (162) (174) 12
Net cash (used by)/from investing activities (23,588) (18,599) 878
Cash flows (used by) from financing activities      
Dividends to shareholders (12,381) (11,823) (11,770)
Repurchase of common stock (5,953) (2,432) (5,054)
Proceeds from short-term debt 14,586 15,277 13,743
Repayment of short-term debt (12,330) (9,463) (22,973)
Proceeds from long-term debt, net of issuance costs 9,138 6,660 0
Repayment of long-term debt (1,757) (1,453) (1,551)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 3,418 838 1,094
Credit support agreements activity, net (226) 272 (219)
Settlement of convertible debt acquired from Shockwave 0 (970) 0
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation 0 0 8,047
Proceeds from Kenvue initial public offering 0 0 4,241
Cash transferred to Kenvue at separation 0 0 (1,114)
Other (34) (38) (269)
Net cash used by financing activities (5,539) (3,132) (15,825)
Effect of exchange rate changes on cash and cash equivalents 201 (289) (112)
(Decrease)/Increase in cash and cash equivalents (4,396) 2,246 7,732
Cash and cash equivalents from continuing operations, beginning of period 24,105 21,859 12,889
Cash and cash equivalents from discontinued operations, beginning of period 0 0 1,238
Cash and cash equivalents, beginning of year 24,105 21,859 14,127
Cash and cash equivalents from continuing operations, end of period 19,709 24,105 21,859
Cash and cash equivalents from discontinued operations, end of period 0 0 0
Cash and cash equivalents, end of year 19,709 24,105 21,859
Cash paid during the year for:      
Interest 1,977 1,990 1,836
Interest, net of amount capitalized 1,863 1,911 1,766
Income taxes, inclusive of discontinued operations 6,539 6,714 8,574
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 $ 2,591 $ 1,551 $ 1,435
v3.25.4
Summary of significant accounting policies
12 Months Ended
Dec. 28, 2025
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 138,200 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.
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: Oncology, Immunology, Neuroscience, Pulmonary Hypertension, Infectious Diseases, 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 Surgery, Orthopaedic, Cardiovascular 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. In October 2025, the Company announced its intention to separate its Orthopaedics business. The Company intends to explore multiple paths to effect the planned separation with a targeted completion within 18 to 24 months after the initial announcement.
New accounting standards
Recently adopted accounting standards
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. The Company adopted this standard prospectively for fiscal year 2025. As this accounting standard only impacts disclosures, it did not have an impact on the Company’s consolidated financial results. See Note 8 to the Company's financial statements for the required disclosures.
Recently issued accounting standards
Not adopted as of December 28, 2025
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.
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. 
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.
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 5 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.
Adjustments to revenue recognized as a result of changes in estimates for the Company's most significant U.S. rebates and discounts liability balances for products shipped in previous periods were approximately 3.0% and 2.0% of U.S. Innovative Medicine revenue during the fiscal years 2025 and 2024, respectively.
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 $13.0 billion and $12.3 billion as of December 28, 2025 and December 29, 2024, 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 2025, 2024 and 2023.
Promotional programs 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 2025, 2024 and 2023.
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 during each of the fiscal years 2025, 2024 and 2023, 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 2025 in the fiscal fourth quarter, which did not result in an impairment. 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 facts or circumstances indicate that the carrying value of the assets may not be recoverable. 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.
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: 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 was $1.3 billion and $1.1 billion in fiscal years 2025 and 2024, respectively. The lease liability was $1.4 billion and $1.2 billion in fiscal years 2025 and 2024, respectively. The operating lease costs from continuing operations were $0.2 billion in fiscal years 2025, 2024 and 2023. Cash paid for amounts included in the measurement of lease liabilities from continuing operations were $0.3 billion in 2025 and $0.2 billion in fiscal years 2024 and 2023.
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 $1.6 billion, $0.6 billion and $0.5 billion in fiscal years 2025, 2024 and 2023, 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 law and rates. Future changes in tax laws and rates may affect recorded deferred tax assets and liabilities in the future.
The Company records 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.
The United States enacted into law on July 4, 2025, the One Big Beautiful Bill Act, (OBBBA). The OBBBA includes provisions modifying the corporate income tax code, including the immediate expensing of domestic research and development expenditures for tax purposes, 100% bonus depreciation for qualified assets, and an increase in the statutory tax rate on foreign earnings from 10.5% to 12.6%. The law also renamed the provision for taxes on foreign earnings from Global Intangible Low-Taxed Income (GILTI) to Net Controlled Foreign Corporation (CFC) Tested Income (NCTI). The Company will continue to account for NCTI under the deferred method as discussed below under the previous U.S. Tax Cuts and Jobs Act (TCJA) provisions.
Previous to the OBBBA, the United States had passed legislative changes in 2017, the TCJA which 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 did not accrue interest. The final payment of $2.5 billion was made in fiscal year 2025.
The TCJA also included provisions for a tax on GILTI, which 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, now NCTI, under the deferred method. The deferred tax amounts recorded are based on the evaluation of temporary differences that are expected to reverse as NCTI is incurred in future periods.
The Company has not provided deferred taxes on the undistributed earnings on 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 record the net tax effects on these amounts. The Company estimates that the tax effect of this repatriation would be approximately $0.6 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 28, 2025, and December 29, 2024, were $0.8 billion and $0.8 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:
20252024
(Dollars in Millions)
Confirmed obligations - beginning of the year$788704
Invoices confirmed during the year2,9973,048
Confirmed invoices paid during the year3,0162,964
Effect of exchange rates15
Confirmed obligations - end of the year$784788
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.
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.
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.
v3.25.4
Cash, cash equivalents and current marketable securities
12 Months Ended
Dec. 28, 2025
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 2025 and 2024, cash, cash equivalents and current marketable securities comprised:
(Dollars in Millions)2025
Carrying
Amount
Estimated
Fair Value
Cash & Cash
Equivalents
Current
Marketable
Securities
Cash$3,2993,2993,299
U.S. Reverse repurchase agreements7,0637,0637,063
Money market funds5,9935,9935,993
Time deposits(1)
893893893
Subtotal $17,24817,24817,248
U.S. Gov't Securities$2,3652,3652,32441
Other Sovereign Securities260260102158
Corporate and other debt securities22922935194
Subtotal available for sale(2)
$2,8542,8542,461393
Total cash, cash equivalents and current marketable securities
$19,709393
(Dollars in Millions)2024
Carrying
Amount
Unrecognized
Gain
Estimated
Fair Value
Cash & Cash
Equivalents
Current
Marketable
Securities
Cash$2,9182,9182,918
Non-U.S. Sovereign Securities(1)
120120120
U.S. Reverse repurchase agreements7,1007,1007,100
Money market funds6,1236,1236,123
Time deposits(1)
1,0451,0451,045
Subtotal 17,30617,30617,186120
U.S. Gov't Securities$6,81516,8166,79620
Other Sovereign Securities1761768393
Corporate and other debt securities22422440184
Subtotal available for sale(2)
$7,21517,2166,919297
Total cash, cash equivalents and current marketable securities
$24,105417
(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 28, 2025 are as follows:
(Dollars in Millions)Cost BasisFair Value
Due within one year$2,8292,829
Due after one year through five years2525
Due after five years through ten years
Total debt securities$2,8542,854
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.
v3.25.4
Inventories
12 Months Ended
Dec. 28, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
At the end of fiscal years 2025 and 2024, inventories comprised:
(Dollars in Millions)20252024
Raw materials and supplies$2,5302,337
Goods in process3,8282,815
Finished goods7,8337,292
Total inventories$14,19112,444
v3.25.4
Property, plant and equipment
12 Months Ended
Dec. 28, 2025
Property, Plant and Equipment [Abstract]  
Property, plant and equipment Property, plant and equipment
At the end of fiscal years 2025 and 2024, property, plant and equipment at cost and accumulated depreciation were:
(Dollars in Millions)20252024
Land and land improvements$701718
Buildings and building equipment13,42912,317
Machinery and equipment32,87329,444
Construction in progress7,3616,289
Total property, plant and equipment, gross$54,36448,768
Less accumulated depreciation31,19528,250
Total property, plant and equipment, net$23,16920,518
The Company capitalizes interest expense as part of the cost of construction of facilities and equipment. Interest expense capitalized in fiscal years 2025, 2024 and 2023 was $114 million, $79 million and $70 million, respectively.
Depreciation expense, including the amortization of capitalized interest in fiscal years 2025, 2024 and 2023 was $2.9 billion, $2.8 billion and $2.6 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.
v3.25.4
Intangible assets and goodwill
12 Months Ended
Dec. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets and goodwill Intangible assets and goodwill
At the end of fiscal years 2025 and 2024, the gross and net amounts of intangible assets were:
(Dollars in Millions)20252024
Intangible assets with definite lives:  
Patents and trademarks — gross(1)
$59,15644,695
Less accumulated amortization(32,507)(26,124)
Patents and trademarks — net$26,64918,571
Customer relationships and other intangibles — gross$21,36120,310
Less accumulated amortization(14,998)(13,544)
Customer relationships and other intangibles — net(2)
$6,3636,766
Intangible assets with indefinite lives:  
Trademarks(3)
1,772
Purchased in-process research and development15,61912,281
Total intangible assets with indefinite lives$17,39112,281
Total intangible assets — net$50,40337,618
(1)See Note 18 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.
(2)The majority is comprised of customer relationships.
(3)In October 2025, the Company announced its intention to separate its Orthopaedics business, to be named DePuy Synthes. In connection with this strategic decision, the Company determined the DePuy Synthes trademarks will continue to be used on existing and future products. Therefore, $1.7 billion of trademarks associated with the DePuy Synthes brand were reclassified from definite lived to indefinite lived. This reclassification reflects management’s revised expectations regarding the future economic life and continued use of these trademarks through and following the planned separation. Based on a qualitative assessment, the Company concluded that the trademarks are not impaired.
Goodwill as of December 28, 2025 and December 29, 2024, as allocated by segment of business, was as follows:
(Dollars in Millions)Innovative
Medicine
MedTechTotal
Goodwill at December 31, 2023$10,40726,15136,558
Goodwill, related to acquisitions6407,5698,209
Goodwill, related to divestitures(56)(56)
Currency translation/other(355)(156)(511)
Goodwill at December 29, 202410,69233,50844,200
Goodwill, related to acquisitions3,4883,488
Goodwill, related to divestitures(29)(29)
Currency translation/other7873261,113
Goodwill at December 28, 2025$14,96733,80548,772
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 19 years. The amortization expense of amortizable assets included in Cost of products sold was $4.6 billion, $4.5 billion and $4.5 billion before tax, for the fiscal years ended December 28, 2025, December 29, 2024 and December 31, 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)
20262027202820292030
$5,1004,4003,7003,6003,500
See Note 18 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.
v3.25.4
Fair value measurements
12 Months Ended
Dec. 28, 2025
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 28, 2025 and December 29, 2024, the total amount of cash collateral paid by the Company under the CSA amounted to $4.6 billion and $2.2 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 28, 2025, the Company had notional amounts outstanding for forward foreign exchange contracts, cross currency interest rate swaps and interest rate swaps of $40.6 billion, $38.9 billion and $8.0 billion, respectively. 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.
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 2028 to 2055 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 28, 2025, the balance of deferred net loss on derivatives included in accumulated other comprehensive income was $0.3 billion after-tax. For additional information, see the Consolidated Statements of Comprehensive Income and Note 13. The Company expects that substantially all of the amounts related to forward foreign exchange contracts will be reclassified into earnings over the next 12 months as a result of transactions that are expected to occur over that period. The maximum length of time over which the Company is hedging transaction exposure is 18 months, excluding interest rate contracts and net investment hedges. The amount ultimately realized in earnings may differ as foreign exchange rates change. Realized gains and losses are ultimately determined by actual exchange rates at maturity of the derivative.
The following table is a summary of the activity related to derivatives and hedges for the fiscal years ended December 28, 2025 and December 29, 2024, net of tax:
December 28, 2025December 29, 2024
(Dollars in Millions)SalesCost of
Products
Sold
R&D
Expense
Interest
(Income)
Expense
Other
(Income)
Expense
SalesCost of
Products
Sold
R&D
Expense
Interest
(Income)
Expense
Other
(Income)
Expense
The effects of fair value, net investment and cash flow hedging:
Gain (Loss) on fair value hedging relationship:
Interest rate swaps contracts:
Hedged items$—33864
Derivatives designated as hedging instruments(338)(64)
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$—193148
Amount of gain or (loss) recognized in AOCI193148
Gain (Loss) on cash flow hedging relationship:
Forward foreign exchange contracts:
Amount of gain or (loss) reclassified from AOCI into income441(52)(19)2426336
Amount of gain or (loss) recognized in AOCI11715(109)(44)(7)(156)8021
Cross currency interest rate swaps contracts:
Amount of gain or (loss) reclassified from AOCI into income326247
Amount of gain or (loss) recognized in AOCI$—1,187(597)
As of December 28, 2025 and December 29, 2024, 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 28, 2025December 29, 2024December 28, 2025December 29, 2024
Long-term Debt$8,318$7,935$(694)$(1,132)
The following table is the effect of derivatives not designated as hedging instrument for the fiscal years ended
December 28, 2025 and December 29, 2024:
(Dollars in Millions)Location of Gain /(Loss)
Recognized in Income on
Derivative
Gain/(Loss)
Recognized In
Income on Derivative
Derivatives Not Designated as Hedging InstrumentsDecember 28, 2025December 29, 2024
Foreign Exchange ContractsOther (income) expense$(265)8
The following table is the effect of net investment hedges for the fiscal years ended December 28, 2025 and
December 29, 2024:
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 28, 2025December 29, 2024December 28, 2025December 29, 2024
Debt$(1,190)282Interest (income) expense
Cross Currency interest rate swaps$277955Interest (income) expense
The following table is a summary of the activity related to equity investments for the fiscal years ended December 28, 2025 and December 29, 2024:
December 29, 2024December 28, 2025
(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$451230(16)665665
Equity Investments without readily determinable value$773253(116)910910
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
(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 28, 2025 and December 29, 2024 for equity investments without readily determinable market values, $115 million and $171 million, respectively, of the changes in fair value reflected in net income were the result of impairments. There were impacts of $368 million and $26 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 28, 2025 and December 29, 2024 were as follows:
20252024
(Dollars in Millions)Level 1Level 2Level 3Total
Total(1)
Derivatives designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—686686660
Interest rate contracts(2)
5895891,484
Total$—1,2751,2752,144
Liabilities:     
Forward foreign exchange contracts413413794
Interest rate contracts(2)
5,8485,8483,753
Total$—6,2616,2614,547
Derivatives not designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—383850
Liabilities:     
Forward foreign exchange contracts464617
Available For Sale Other Investments:
Equity investments(3)
665665451
Debt securities(4)
2,8542,8547,216
Other Liabilities
Contingent Consideration(5)
$7537531,217
Gross to Net Derivative Reconciliation20252024
(Dollars in Millions)
Total Gross Assets$1,3132,194
Credit Support Agreements (CSA)(1,308)(2,172)
Total Net Asset522
Total Gross Liabilities6,3074,564
Credit Support Agreements (CSA)(5,903)(4,412)
Total Net Liabilities$404152
Summarized information about changes in liabilities for contingent consideration is as follows:
202520242023
(Dollars in Millions)
Beginning Balance
$1,2171,0921,120
Changes in estimated fair value(6)
(387)8829
Additions(7)
112
Payments/Other
(77)(75)(57)
Ending Balance(5)
$7531,2171,092
(1)2024 assets and liabilities are all classified as Level 2 with the exception of equity investments of $451 million, which are classified as Level 1 and contingent consideration of $1,217 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 $753 million, $1,217 million and $1,092 million, classified as non-current other liabilities as of December 28, 2025,
December 29, 2024 and December 31, 2023, respectively.
(6)In fiscal year 2025, the Company recorded a reduction of $364 million to the CVR liability associated with the 2022 Abiomed acquisition based on the reduced probability of the achievement of certain developmental and commercial milestones by the dates required in the CVR agreement. The remaining CVR balance is $0.4 billion.
(7)In fiscal year 2024, the Company recorded $105 million of contingent consideration related to Proteologix.
As of December 28, 2025 and December 29, 2024, cash and cash equivalents includes money market funds of $5,993 million and $6,123 million, respectively, which would be considered level 1 in the fair value hierarchy

See Notes 2 and 7 for financial assets and liabilities held at carrying amount on the Consolidated Balance Sheet.
v3.25.4
Borrowings
12 Months Ended
Dec. 28, 2025
Debt Disclosure [Abstract]  
Borrowings Borrowings
The components of long-term debt are as follows:
(Dollars in Millions)2025 2024
2.625% Notes due 2025
$—750
0.55% Notes due 2025
999
2.45% Notes due 2026
2,0001,999
2.95% Notes due 2027
968927
0.95% Notes due 2027
1,4991,458
4.50% Notes due 2027(4)
749
1.150% Notes due 2028 (750MM Euro 1.1785)(1)/(750MM Euro 1.0401)(2)
882777
2.90% Notes due 2028
1,4981,498
4.55% Notes due 2028(4)
748
6.95% Notes due 2029
299 298
4.80% Notes due 2029
1,1471,146
2.70% Notes due 2029 (4) (600MM Euro 1.1785)(1)
707
1.30% Notes due 2030
1,6931,646
4.70% Notes due 2030(4)
996
4.90% Notes due 2031
1,1461,145
3.20% Notes due 2032 (700MM Euro 1.1785)(1)/($700MM Euro 1.0401)(2)
822725
4.85% Notes due 2032(4)
1,243
4.95% Notes due 2033
499499
4.375% Notes due 2033
853854
3.05% Notes due 2033(4) ( 700MM Euro 1.1785)(1)
823
4.95% Notes due 2034
847846

1.650% Notes due 2035 (1.5B Euro 1.1785)(1)/(1.5B Euro 1.0401)(2)
1,7581,550
5.00% Notes due 2035(4)
1,244
3.35% Notes due 2036 (800MM Euro 1.1785)(1)(800MM Euro 1.0401)(2)
938827
3.587% Notes due 2036
919869
5.95% Notes due 2037
995 994
3.625% Notes due 2037
1,4091,358
3.35% Notes due 2037(4) (1B Euro 1.1785)(1)
1,176
5.85% Notes due 2038
697 697
3.40% Notes due 2038
994993
4.50% Notes due 2040
542 541
2.10% Notes due 2040
898845
4.85% Notes due 2041
298297
4.50% Notes due 2043
497496
3.55% Notes due 2044 (1B Euro 1.1785)(1)(1B Euro 1.0401)(2)
1,1681,030
3.60% Notes due 2045(4) (700MM Euro 1.1785)(1)
819
3.73% Notes due 2046
1,9791,978
3.75% Notes due 2047
876822
3.50% Notes due 2048
744744
2.25% Notes due 2050
861808
5.25% Notes due 2054
843843
3.70% Notes due 2055(4) (1B Euro 1.1785)(1)
1,173
2.45% Notes due 2060
1,1121,058
Other79 83
Subtotal41,438
(3)
32,400
(3)
Less current portion2,000 1,749
Total long-term debt$39,438 $30,651
(1)Translation rate at December 28, 2025.
(2)Translation rate at December 29, 2024.
(3)The excess of the carrying value over the fair value of debt was $1.7 billion and $2.0 billion at the end of the fiscal year 2025 and the fiscal year 2024, respectively.
(4)In the fiscal first quarter of 2025, the Company issued senior unsecured notes for approximately $9.2 billion. The net proceeds from this offering were used to fund the Intra-Cellular Therapies, Inc. acquisition which closed on April 2, 2025, and for general corporate purposes.
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 2025, the Company secured a new 364-day Credit Facility of $10 billion, which expires on June 24, 2026. 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 2025 and 2024, 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 $8.5 billion and $6.0 billion at the end of fiscal years 2025 and 2024, respectively. The current portion of the long-term debt was $2.0 billion and $1.7 billion in 2025 and 2024, respectively, and the remainder is commercial paper and local borrowing by international subsidiaries.
The current debt balance as of December 28, 2025 includes $6.5 billion of commercial paper which has a weighted average interest rate of 3.81% and a weighted average maturity of approximately two months. 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.
Aggregate maturities of long-term debt obligations commencing in 2026 are:
(Dollars in Millions)
20262027202820292030After 2030
$2,0003,2163,1282,1532,68928,252
v3.25.4
Income taxes
12 Months Ended
Dec. 28, 2025
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
The provision for taxes on income on continuing operations consists of:
(Dollars in Millions)202520242023
Currently payable:
U.S. taxes$1,1632,2002,705
International taxes3,0762,6043,090
Total currently payable4,2394,8045,795
Deferred:
U.S. taxes2,008(2,539)(3,440)
International taxes(470)356(619)
Total deferred1,538(2,183)(4,059)
Provision for taxes on income$5,7772,6211,736
Below is a tabular rate reconciliation of the U.S. statutory income tax rate of 21% to the Company's effective income tax rate for the fiscal year 2025, pursuant to the new disclosure requirements of ASU 2023-09 (See Note 1 of the Consolidated Financial Statements):
(Dollars in Millions)2025
U.S. $15,254
International17,327
Earnings before taxes on income:32,581
Tax rates:
U.S. federal statutory rate6,84221.0%
State & local taxes:(1)
1620.5 
Foreign tax effects:(861)(2.7)
Ireland
Statutory tax rate difference between Ireland & U.S.(473)(1.5)
Other(11)(0.0)
Switzerland
Statutory tax rate difference between Switzerland & U.S.(607)(1.9)
Other2830.9 
All Other Jurisdictions(53)(0.2)
Effects of changes in tax laws or rates enacted in the current period: 1,0033.1 
OBBBA Deferred NCTI Remeasurement1,0033.1 
Effects of cross border tax laws:1,6014.9 
NCTI(2)
9993.1 
Subpart F5221.6 
Other800.2 
Tax credits: (2,455)(7.6)
NCTI foreign tax credits(2)
(1,324)(4.1)
Subpart F foreign tax credits(656)(2.0)
All other tax credits(475)(1.5)
Changes in valuation allowances:1360.4 
Nontaxable or nondeductible items:550.2 
Changes in unrecognized tax benefits:(111)(0.3)
Other adjustments:(595)(1.8)
Net tax benefit on ordinary losses(595)(1.8)
Effective Rate$5,77717.7 %
(1)Majority of state taxes are in the following states AL, CA, FL, IL, IN, KY, MA, MI, NJ, NY, PA, TN, VA, WI
(2)NCTI includes $(0.6) billion of accrued benefits as the Company has elected to account for NCTI under the deferred method. (See Note 1 to the Consolidated Financial Statements)
The fiscal year 2025 effective tax rate increased by 2.0% as compared to fiscal year 2024 effective tax rate.
The increase in the worldwide effective tax rate is primarily due to the United States enacting OBBBA (see Note 1). As a result, the Company remeasured its deferred tax balances related to NCTI for the changes in the tax rate and recorded a one-time re-measurement cost of approximately $1.0 billion which is reflected in the effective tax rate table under effects of changes in tax laws or rates enacted in the current period.
The Company’s 2025 effective tax rate was also unfavorably impacted by more income in higher tax jurisdictions, specifically in the U.S. In fiscal year 2025, the Company reversed previously accrued reserves of approximately $7.0 billion for the Talc settlement proposal versus a charge of $5.1 billion recorded in fiscal 2024 for the Talc settlement proposal. Both were recorded at an effective rate for U.S. federal and state tax of approximately 22% (for further information see Note 19 to the Consolidated Financial Statements).
The Company’s 2025 effective tax rate was favorably impacted by a tax benefit as a result of ordinary losses attributed to certain international subsidiaries which is reflected in the other adjustments category in the effective tax rate table and favorable changes in unrecognized tax benefit positions due to expiration of statute of limitations.
The below comparison table is a rate reconciliation of the U.S. statutory rate of 21% to the Company's effective tax rate for fiscal years 2024 and 2023:
(Dollars in Millions)20242023
U.S. $(458)(2,033)
International17,14517,095 
Earnings before taxes on income:$16,68715,062 
Tax rates:
U.S. statutory rate21.0 %21.0 
International operations(1)
(5.2)(8.1)
U.S. tax settlements1.0 (3.0)
U.S. taxes on international income(2)
(2.6)(0.3)
U.S. state taxes1.5 1.0 
Tax benefits on share-based compensation(0.6)(0.8)
All other0.6 1.7 
Effective Rate15.7 %11.5 
(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 22% (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.
Temporary differences and carryforwards at the end of fiscal years 2025 and 2024 were as follows:
2025 Deferred Tax2024 Deferred Tax
(Dollars in Millions)AssetLiabilityAssetLiability
Employee related obligations$54372
Stock based compensation651717
Depreciation of property, plant and equipment(929)(833)
Goodwill and intangibles(6,154)(3,261)
R&D capitalized for tax4,7524,398
Reserves & liabilities2,4334,444
Inventory related378371
Net operating loss & tax credit carryforwards3,5612,658
Undistributed foreign earnings1,718(2,969)2,668(1,492)
NCTI (Net CFC Tested Income)(2,495)(1,589)
Miscellaneous international620852
Miscellaneous U.S. 300346
Total deferred income taxes14,467(12,547)16,826(7,175)
Valuation allowances(1,837)(1,638)
Total deferred income taxes net of valuation allowances$12,630(12,547)15,188(7,175)
The Company has wholly-owned international subsidiaries that have cumulative losses that result in deferred tax assets. 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. Net operating loss carryforwards for certain international subsidiaries that do not have an indefinite carryforward period will begin to expire in 2026.
Valuation allowances have been recorded against deferred tax assets that are not more likely than not to be realized. The following table summarizes the activity related to valuation allowances for continuing operations:
(Dollars in Millions)20252024
Beginning of year$1,6381,149
Provision129451
Utilization(70)
Foreign currency translation90(46)
Net acquisitions / (dispositions/liquidations)5084
End of year$1,837$1,638
The following table summarizes income taxes paid net of tax refunds:
(Dollars in Millions)202520242023
U.S. Federal(1)
$3,5773,8154,722
U.S. State and Local taxes169341236
Total U.S.3,7464,1564,958
Total Foreign(2)
2,7932,5583,616
Total income taxes paid net of tax refunds$6,5396,7148,574
(1)Includes TCJA foreign undistributed earnings payments of $2.5 billion, $2.0 billion and $1.5 billion in fiscal years 2025, 2024 and 2023, respectively
(2)Included in foreign income taxes paid net of refunds are payments made in 2025 to Ireland for $0.6 billion and Switzerland for $0.5 billion
The following table summarizes the activity related to unrecognized tax benefits for continuing operations:
(Dollars in Millions)202520242023
Beginning of year$2,0202,4853,716
Increases related to current year tax positions87176239
Increases related to prior period tax positions925129244
Decreases related to prior period tax positions(160)(147)(781)
Settlements(10)(583)(880)
Lapse of statute of limitations(200)(40)(53)
End of year$2,6622,0202,485
As of December 28, 2025 the Company had approximately $2.7 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 has completed its audit for the tax years through 2016 and has commenced the audit for tax years 2017 through 2020.
In other major jurisdictions where the Company conducts business, the years that remain open to tax audit go back to the year 2014. The Company believes it is possible that tax audits may be completed over the next twelve months by taxing authorities in some jurisdictions outside of the United States.
The Company classifies liabilities for unrecognized tax benefits and related interest and penalties as long-term liabilities. Interest income and expense along with penalties related to unrecognized tax benefits are presented in the provision for income taxes. The Company recognized net after tax interest expense of $64 million, $217 million and $99 million in fiscal years 2025, 2024 and 2023, respectively. The total amount of accrued interest was $336 million and $274 million in fiscal years 2025 and 2024, respectively.
v3.25.4
Employee related obligations
12 Months Ended
Dec. 28, 2025
Compensation Related Costs [Abstract]  
Employee related obligations Employee related obligations
At the end of fiscal 2025 and fiscal 2024, employee related obligations recorded on the Consolidated Balance Sheets were:
(Dollars in Millions)20252024
Pension benefits$2,9172,968
Postretirement benefits1,7741,920
Postemployment benefits2,7982,910
Deferred compensation4449
Total employee obligations7,5337,847
Less current benefits payable576592
Employee related obligations — non-current$6,9577,255
Prepaid employee related obligations of $7.3 billion and $6.0 billion for 2025 and 2024, respectively, are included in Other assets on the Consolidated Balance Sheets.
v3.25.4
Pensions and other benefit plans
12 Months Ended
Dec. 28, 2025
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 2025 and 2024 the Company used December 31, 2025 and December 31, 2024, 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 2025, 2024 and 2023 include the following components:
Retirement PlansOther Benefit Plans
(Dollars in Millions)202520242023202520242023
Service cost$928948893288277264
Interest cost1,4231,4021,437215209214
Expected return on plan assets(2,392)(2,560)(2,716)(7)(7)(7)
Amortization of prior service cost (184)(184)(184)(2)(2)(2)
Recognized actuarial losses (gains)339174(199)625323
Curtailments and settlements(2)93(5)
Net periodic benefit cost (credit)$114(222)(676)556530487
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 Plans202520242023202520242023
Net Periodic Benefit Cost
Service cost discount rate4.57 %4.39 4.85 5.51 5.09 5.40 
Interest cost discount rate5.33 %4.95 5.25 5.45 5.12 5.43 
Rate of increase in compensation levels3.69 %3.70 3.71 4.22 4.22 4.22 
Expected long-term rate of return on plan assets7.21 %7.25 7.21 
Benefit Obligation
Discount rate5.03 %4.95 4.58 5.31 5.54 5.11 
Rate of increase in compensation levels3.69 %3.70 3.69 4.26 4.22 4.22 
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 Plans20252024
Healthcare cost trend rate assumed for next year13.90 %9.33 %
Rate to which the cost trend rate is assumed to decline (ultimate trend)4.01 %4.02 %
Year the rate reaches the ultimate trend rate2050 2048 
The following table sets forth information related to the benefit obligation and the fair value of plan assets at fiscal year-end 2025 and 2024 for the Company’s defined benefit retirement plans and other post-retirement plans:
Retirement PlansOther Benefit Plans
(Dollars in Millions)2025202420252024
Change in Benefit Obligation
Projected benefit obligation — beginning of year$30,31731,7444,4254,108
Service cost928948288277
Interest cost1,4231,402215209
Plan participant contributions8275
Actuarial (gains) losses(1)
(245)(1,245)(12)398
Divestitures & acquisitions1
Curtailments, settlements & restructuring(11)(121)
Benefits paid from plan(2)
(1,436)(1,801)(787)(556)
Effect of exchange rates1,185(685)9(11)
Projected benefit obligation — end of year$32,24430,3174,1384,425
Change in Plan Assets
Plan assets at fair value — beginning of year$33,39533,6079386
Actual return (loss) on plan assets3,1332,1131315
Company contributions244229780548
Plan participant contributions8275
Settlements(11)(114)
Benefits paid from plan assets(2)
(1,436)(1,801)(787)(556)
Effect of exchange rates1,251(714)
Plan assets at fair value — end of year$36,65833,3959993
Funded status — end of year$4,4143,078(4,039)(4,332)
Amounts Recognized in the Company’s Balance Sheet consist of the following:
Non-current assets$7,3316,046
Current liabilities(144)(136)(432)(453)
Non-current liabilities(2,773)(2,832)(3,607)(3,879)
Total recognized in the consolidated balance sheet — end of year$4,4143,078(4,039)(4,332)
Amounts Recognized in Accumulated Other Comprehensive Income consist of the following:
Net actuarial loss$2,7273,903609691
Prior service cost (credit)(867)(1,051)(2)(4)
Unrecognized net transition obligation
Total before tax effects$1,8602,852607687
Accumulated Benefit Obligations — end of year$30,99928,883
(1)The actuarial (gains)/losses for retirement plans in 2025 and 2024 were primarily driven by changes in the discount rates.
(2)The fiscal year 2024 includes approximately $400 million transferred to a group annuity contract issued by a third-party insurer for the U.S. Salaried Pension.
Retirement PlansOther Benefit Plans
(Dollars in Millions)2025202420252024
Amounts Recognized in Net Periodic Benefit Cost and Other Comprehensive Income
Net periodic benefit cost (credit)$114 (222)556530
Net actuarial (gain) loss(985)(807)(19)389
Amortization of net actuarial loss(339)(172)(62)(53)
Prior service cost (credit)— 
Amortization of prior service (cost) credit184 18422
Effect of exchange rates148 (79)(1)1
Total loss/(income) recognized in other comprehensive income, before tax$(992)(874)(80)339
Total recognized in net periodic benefit cost and other comprehensive income$(878)(1,096)476869
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 2025, the Company contributed $138 million and $106 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, 2025 and December 31, 2024, respectively:
U.S. PlansInternational Plans
Qualified PlansNon-Qualified PlansFunded PlansUnfunded Plans
(Dollars in Millions)20252024202520242025202420252024
Plan Assets$24,05722,25012,60111,145
Projected Benefit Obligation19,11118,1462,0841,99010,91010,069139112
Accumulated Benefit Obligation18,86717,7262,0641,9499,9579,11511193
Over (Under) Funded Status
Projected Benefit Obligation$4,9464,104(2,084)(1,990)1,6911,076(139)(112)
Accumulated Benefit Obligation5,1904,524(2,064)(1,949)2,6442,030(111)(93)
Plans with accumulated benefit obligations in excess of plan assets have an accumulated benefit obligation, projected benefit obligation and plan assets of $3.0 billion, $3.1 billion and $0.3 billion, respectively, at the end of 2025, and $5.8 billion, $6.1 billion and $3.2 billion, respectively, at the end of 2024.
The following table displays the projected future benefit payments from the Company’s retirement and other benefit plans:
(Dollars in Millions)202620272028202920302031-2035
Projected future benefit payments
Retirement plans$1,6781,6981,7981,8901,99611,386
Other benefit plans $4444014144274432,425
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)202620272028202920302031-2035
Projected future contributions$142148152156163878
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 2025 and 2024 and target allocations for 2026 are as follows:
Percent of
Plan Assets
Target
Allocation
Worldwide Retirement Plans202520242026
Equity securities55 %55 %54 %
Debt securities45 45 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.
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. Level 3 other assets are priced based on unobservable inputs.
The following table sets forth the Retirement Plans' investments measured at fair value as of December 31, 2025 and December 31, 2024:
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)2025202420252024202520242025202420252024
Short-term investment funds$57 677511734511
Government and agency securities9,1497,8859,1497,885
Debt instruments2,3102,3212,3102,321
Equity securities6,6477,14416,6487,144
Commingled funds6,1055,004376,1056,19012,21011,231
Other assets567881081284,9324,0875,6074,303
Investments at fair value$6,704 7,14418,80815,80910916511,03710,27736,65833,395
(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 $99 million and $93 million at December 31, 2025 and December 31, 2024, respectively.
The fair value of Johnson & Johnson Common Stock directly held in plan assets was $17 million at December 31, 2025 and $13 million at December 31, 2024.
v3.25.4
Savings plan
12 Months Ended
Dec. 28, 2025
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 $277 million, $282 million and $263 million in fiscal years 2025, 2024 and 2023, respectively.
v3.25.4
Capital and treasury stock
12 Months Ended
Dec. 28, 2025
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 1, 2023506,246$41,694
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, 2024712,92175,680
Employee compensation and stock option plans(34,920)(6,009)
Repurchase of common stock33,9035,953
Balance at December 28, 2025711,904$75,624
Aggregate shares of common stock issued were approximately 3,119,843,000 shares at the end of fiscal years 2025, 2024 and 2023.
Cash dividends paid were $5.14 per share in fiscal year 2025, compared with dividends of $4.91 per share in fiscal year 2024, and $4.70 per share in fiscal year 2023.
On January 2, 2026, the Board of Directors declared a regular cash dividend of $1.30 per share, payable on March 10, 2026 to shareholders of record as of February 24, 2026.
v3.25.4
Accumulated other comprehensive income (loss)
12 Months Ended
Dec. 28, 2025
Equity [Abstract]  
Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss)
Components of other comprehensive income (loss) consist of the following:
(Dollars in Millions)Foreign
Currency
Translation
Gain/(loss)
On Securities
Employee
Benefit Plans
Gain/
(Loss) On
Derivatives
& Hedges
Total
Accumulated
Other
Comprehensive
Income (Loss)
January 1, 2023$(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 changes1,708 2449(1,373)786
December 29, 2024(8,441)1(1,551)(1,750)(11,741)
Net 2025 changes(5,506)(1)8581,460(3,189)
December 28, 2025$(13,947)(693)(290)(14,930)
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 the separation of Kenvue.
v3.25.4
International currency translation
12 Months Ended
Dec. 28, 2025
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, Egypt, Turkey and Venezuela). The translation of balance sheet accounts for highly inflationary economies are reflected in the operating results.
A rollforward of the changes during fiscal years 2025, 2024 and 2023 for foreign currency translation adjustments is included in Note 13.
Net currency transaction gains and losses included in Other (income) expense were losses of $254 million, $214 million and $366 million in fiscal years 2025, 2024 and 2023, respectively.
v3.25.4
Earnings per share
12 Months Ended
Dec. 28, 2025
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 28, 2025, December 29, 2024 and December 31, 2023:
(In Millions Except Per Share Amounts)202520242023
Basic net earnings per share from continuing operations$11.13 5.845.26
Basic net earnings per share from discontinued operations— — 8.62
Total net earnings per share - basic11.135.8413.88
Average shares outstanding — basic2,407.42,407.32,533.5
Potential shares exercisable under stock option plans124.177.794.1
Less: shares repurchased under treasury stock method(102.1)(55.6)(67.2)
Adjusted average shares outstanding — diluted2,429.42,429.42,560.4
Diluted net earnings per share from continuing operations11.03 5.795.20
Diluted net earnings per share from discontinuing operations— — 8.52
Total net earnings per share - diluted$11.03 5.7913.72
(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
v3.25.4
Common stock, stock option plans and stock compensation agreements
12 Months Ended
Dec. 28, 2025
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 28, 2025, 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 93 million at the end of fiscal year 2025.
The compensation cost that has been charged against income for these plans was $1.4 billion, $1.2 billion and $1.1 billion for fiscal years 2025, 2024 and 2023, respectively. The total income tax benefit recognized in the income statement for share-based compensation costs was $283 million, $251 million and $221 million for fiscal years 2025, 2024 and 2023, respectively. The Company also recognized additional income tax benefits of $215 million, $94 million and $126 million for fiscal years 2025, 2024 and 2023, respectively, for which options were exercised or restricted shares were vested. The total unrecognized compensation cost was $1.1 billion, $1.0 billion and $0.9 billion for fiscal years 2025, 2024 and 2023, respectively. The weighted average period for this cost to be recognized was 1.76 years, 1.81 years and 1.80 years for fiscal years 2025, 2024, and 2023, 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 3 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 2025, 2024, and 2023 grants, expected volatility represents a blended rate of a 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 $27.07, $27.67 and $27.85, in fiscal years 2025, 2024 and 2023, respectively. The fair value was estimated based on the weighted average assumptions of:
202520242023
Risk-free rate4.33 %4.15 %3.74 %
Expected volatility17.99 %17.85 %17.69 %
Expected life (in years)7.07.07.0
Expected dividend yield3.30 %3.10 %2.90 %
A summary of option activity under the Plan as of December 28, 2025, is presented below:
(Shares in Thousands)Outstanding
Shares
Weighted
Average Exercise
Price
Aggregate
Intrinsic
Value
(Dollars in Millions)
Shares at December 29, 2024112,629$144.69$1,129
Options granted12,367156.15
Options exercised(29,742)128.09
Options canceled/forfeited(2,182)160.90
Shares at December 28, 202593,072$151.14$5,257
The total intrinsic value of options exercised was $1,442 million, $560 million and $729 million in fiscal years 2025, 2024 and 2023, respectively.
The following table summarizes stock options outstanding and exercisable at December 28, 2025:
(Shares in Thousands)OutstandingExercisable
Exercise Price RangeOptions
Average Life(1)
Weighted
Average
Exercise Price
OptionsWeighted
Average
Exercise Price
$101.87 - $115.67
7,5700.9$112.457,570$112.45
$129.51 - $131.94
15,5192.7130.8915,518130.89
$141.06 - $156.15
23,1786.7153.8411,307151.41
$157.92 - $162.75
23,3507.6160.2710,318161.13
$164.62 - $165.89
23,4555.6165.2922,799165.27
 93,0725.5$151.1467,512$148.49
(1)Average contractual life remaining in years.
Stock options outstanding at December 29, 2024 and December 31, 2023 were 112,629 and an average life of 5.3 years and 112,238 and an average life of 5.5 years, respectively. Stock options exercisable at December 29, 2024 and December 31, 2023 were 74,683 at an average price of $135.72 and 66,998 at an average price of $123.39, 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 28, 2025 is presented below:
(Shares in Thousands)Outstanding
Restricted Share Units
Outstanding
Performance Share Units
Shares at December 29, 202413,0412,013
Granted7,146597
Issued(7,267)(406)
Canceled/forfeited/adjusted(784)(93)
Shares at December 28, 202512,1362,111
The average fair value of the restricted share units granted was $146.95, $147.51 and $152.63 in fiscal years 2025, 2024 and 2023, 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 $1,104 million, $833 million and $605 million in 2025, 2024 and 2023, respectively.
The weighted average fair value of the performance share units granted was $155.71, $133.76 and $145.17 in fiscal years 2025, 2024 and 2023, 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 $67 million, $146 million and $140 million in fiscal years 2025, 2024 and 2023, respectively.
v3.25.4
Segments of business and geographic areas
12 Months Ended
Dec. 28, 2025
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 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)202520242023’25 vs. ’24’24 vs. ’23
INNOVATIVE MEDICINE
Oncology
U.S.$13,65910,8548,46225.8 %28.3 
International11,7219,9269,19918.1 7.9 
Worldwide25,38020,78117,66122.1 17.7 
CARVYKTI
U.S.1,49286946971.6 85.2 
International3959430**
Worldwide1,88796350095.9 92.7 
DARZALEX
U.S.8,2666,5885,27725.5 24.8 
International6,0855,0824,46719.7 13.8 
Worldwide14,35111,6709,74423.0 19.8 
ERLEADA
U.S.1,4531,2821,06513.4 20.3 
International2,1211,7171,32223.5 29.8 
Worldwide3,5742,9992,38719.2 25.6 
IMBRUVICA
U.S.8921,0201,051(12.5)(3.0)
International1,9312,0182,214(4.3)(8.8)
Worldwide2,8233,0383,264(7.1)(6.9)
RYBREVANT/ LAZCLUZE(1)
U.S.53425766**
International2007027**
Worldwide73432793**
TALVEY(2)
U.S.3402415640.9 *
International123467**
Worldwide4632876361.3 *
TECVAYLI
U.S.4444183346.3 25.3 
International2261316172.8 *
Worldwide67054939522.1 38.8 
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
ZYTIGA /abiraterone acetate
U.S.233450(33.2)(32.2)
International480597837(19.7)(28.6)
Worldwide502631887(20.4)(28.8)
OTHER ONCOLOGY
U.S.2141459347.5 55.9 
International162172235(6.0)(26.8)
Worldwide37631732818.5 (3.4)
Immunology
U.S.9,87211,35511,539(13.1)(1.6)
International5,8566,4736,513(9.5)(0.6)
Worldwide15,72817,82818,052(11.8)(1.2)
REMICADE
U.S.1,1711,0091,14316.0 (11.7)
U.S. Exports7498147(24.8)(33.0)
International5234975495.3 (9.5)
Worldwide1,7681,6051,83910.2 (12.8)
SIMPONI / SIMPONI ARIA
U.S.1,1931,0821,12410.3 (3.8)
International1,4751,1081,07333.1 3.3 
Worldwide2,6682,1902,19721.8 (0.3)
STELARA
U.S.3,8476,7206,966(42.7)(3.5)
International2,2303,6413,892(38.7)(6.4)
Worldwide6,07810,36110,858(41.3)(4.6)
TREMFYA
U.S.3,5292,4432,14744.5 13.7 
International1,6261,22799932.5 22.8 
Worldwide5,1553,6703,14740.5 16.6 
OTHER IMMUNOLOGY
U.S.59311*(74.1)
International200*
Worldwide61311*(74.1)
Neuroscience
U.S.5,1514,3984,06517.1 8.2 
International2,6862,7183,076(1.2)(11.6)
Worldwide7,8377,1157,14010.1 (0.4)
CAPLYTA(3)
U.S.700*
International— 
Worldwide700*
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
CONCERTA / methylphenidate
U.S.82134230(38.6)(41.7)
International502507554(1.2)(8.4)
Worldwide584641783(9.0)(18.1)
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
U.S.2,7253,1252,897(12.8)7.9 
International1,0851,0971,218(1.1)(9.9)
Worldwide3,8104,2224,115(9.8)2.6 
SPRAVATO
U.S.1,48592958959.9 57.8 
International21014810041.9 48.2 
Worldwide1,6961,07768957.4 56.4 
OTHER NEUROSCIENCE
U.S.159210349(24.5)(39.8)
International8899651,204(7.9)(19.8)
Worldwide1,0481,1751,553(10.9)(24.3)
Pulmonary Hypertension
U.S.3,2233,1432,6972.6 16.5 
International1,2141,1401,1176.5 2.0 
Worldwide4,4374,2823,8153.6 12.3 
OPSUMIT/OPSYNVI(4)
U.S.1,6331,5571,2924.8 20.5 
International6926686813.7 (1.9)
Worldwide2,3252,2251,9734.5 12.8 
UPTRAVI
U.S.1,5361,5111,3261.7 13.9 
International36630725519.4 20.1 
Worldwide1,9021,8171,5824.7 14.9 
OTHER PULMONARY HYPERTENSION
U.S.547579(27.0)(5.1)
International155165182(6.2)(9.3)
Worldwide209240260(12.7)(7.7)
Infectious Diseases
U.S.1,2641,3541,500(6.6)(9.8)
International1,9772,0422,918(3.2)(30.0)
Worldwide3,2413,3964,418(4.6)(23.1)
EDURANT / rilpivirine
U.S.263135(18.4)(10.0)
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
International1,4611,2411,11517.7 11.2 
Worldwide1,4861,2721,15016.9 10.6 
PREZISTA / PREZCOBIX /
REZOLSTA / SYMTUZA
U.S.1,2261,3111,446(6.5)(9.4)
International353401408(11.9)(1.7)
Worldwide1,5791,7121,854(7.7)(7.7)
OTHER INFECTIOUS DISEASES(5)
U.S.1211196.6 (41.0)
International1634011,395(59.3)*
Worldwide1754121,414(57.5)*
Cardiovascular / Metabolism / Other
U.S.3,1752,8662,90610.8 (1.4)
International603696765(13.3)(9.1)
Worldwide3,7783,5623,6716.1 (3.0)
XARELTO
U.S.2,6332,3732,36511.0 0.3 
International— — 
Worldwide2,6332,3732,36511.0 0.3 
OTHER
U.S.5424945419.8 (8.8)
International603696765(13.3)(9.1)
Worldwide1,1451,1891,306(3.7)(8.9)
TOTAL INNOVATIVE MEDICINE
U.S.36,34433,97031,1697.0 9.0 
International24,05722,99423,5904.6 (2.5)
Worldwide60,40156,96454,7596.0 4.0 
MEDTECH
Cardiovascular
U.S.5,3054,5133,63317.5 24.2 
International3,6233,1942,71713.4 17.6 
Worldwide8,9287,7076,35015.8 21.4 
ELECTROPHYSIOLOGY
U.S.2,8912,7382,4585.6 11.4 
International2,7432,5292,2308.5 13.4 
Worldwide5,6345,2674,6887.0 12.3 
ABIOMED
U.S.1,3931,2131,06614.9 13.7 
International35828424026.4 18.2 
Worldwide1,7511,4961,30617.1 14.5 
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
SHOCKWAVE(6)
U.S.897442**
International249122**
Worldwide1,146564**
OTHER CARDIOVASCULAR
U.S.1241201093.1 10.7 
International2732602474.9 5.3 
Worldwide3973803564.3 6.9 
Orthopaedics
U.S.5,7205,6895,5250.5 3.0 
International3,5383,4703,4172.0 1.5 
Worldwide9,2589,1588,9421.1 2.4 
HIPS
U.S.1,0801,0579962.1 6.2 
International5945815642.2 3.0 
Worldwide1,6741,6381,5602.1 5.0 
KNEES
U.S.9249228960.2 2.9 
International6636235596.5 11.3 
Worldwide1,5871,5451,4562.7 6.1 
TRAUMA
U.S.2,0582,0131,9492.2 3.3 
International1,0881,0361,0305.0 0.6 
Worldwide3,1463,0492,9793.2 2.3 
SPINE, SPORTS & OTHER
U.S.1,6581,6961,684(2.2)0.7 
International1,1931,2301,263(3.0)(2.6)
Worldwide2,8522,9262,947(2.5)(0.7)
Surgery
U.S.4,1574,0034,0313.9 (0.7)
International5,9805,8426,0062.4 (2.7)
Worldwide10,1379,84510,0373.0 (1.9)
ADVANCED
U.S.1,9001,8381,8333.4 0.2 
International2,6782,6502,8371.0 (6.6)
Worldwide4,5774,4884,6712.0 (3.9)
GENERAL
U.S.2,2582,1652,1984.3 (1.5)
International3,3023,1923,1683.4 0.8 
Worldwide5,5605,3585,3663.8 (0.2)
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
Vision
U.S.2,2252,1282,0864.6 2.0 
International3,2433,0182,9867.4 1.1 
Worldwide5,4685,1465,0726.3 1.5 
CONTACT LENSES / OTHER
U.S.1,7541,6841,6264.1 3.6 
International2,1572,0492,0765.3 (1.3)
Worldwide3,9103,7333,7024.8 0.8 
SURGICAL
U.S.4714444606.1 (3.4)
International1,08696991012.1 6.5 
Worldwide1,5581,4131,37010.2 3.2 
TOTAL MEDTECH   
U.S.17,40816,33215,2756.6 6.9 
International16,38415,52515,1255.5 2.6 
Worldwide33,79231,85730,4006.1 4.8 
WORLDWIDE   
U.S.53,75250,30246,4446.9 8.3 
International40,44138,51938,7155.0 (0.5)
Worldwide$94,19388,82185,1596.0 %4.3 
*    percentage greater than 100% or not meaningful
(1)Previously in Other Oncology, Includes the sales of RYBREVANT and RYBREVANT + LAZCLUZE
(2)Previously in Other Oncology
(3)Acquired with the Intra-Cellular Therapies acquisition on April 2, 2025
(4)In 2024 OPSYNVI was in Other Pulmonary Hypertension
(5)Includes the Covid-19 Vaccine in 2024 and 2023
(6)Acquired on May 31, 2024
Income Before Tax by Segment
(Dollars in Millions)
2025 (3)
2024 (4)
2023 (5)
Innovative
Medicine
MedTechTotalInnovative
Medicine
MedTechTotalInnovative
Medicine
MedTechTotal
Sales to customers$60,40133,79256,96431,85754,75930,400
Cost of products sold15,64614,54914,03613,34513,71512,722
Selling, marketing and administrative 11,37511,35410,90610,8129,84210,476
Research and development expense11,8272,83813,5293,70311,9633,122
Other segment items(1)
(713)938(426)257993(589)
Segment income before tax$22,2664,11326,37918,9193,74022,65918,2464,66922,915
(Income) Expense not allocated to segments(2)
(6,202)5,9727,853
Worldwide total$32,58116,68715,062
 Identifiable Assets
(Dollars in Millions)20252024
Innovative Medicine$78,05757,070
MedTech86,48284,322
Total164,539141,392
General corporate(6)
34,67138,712
Worldwide total$199,210180,104
Additions to Property,
Plant & Equipment
Depreciation and
Amortization
(Dollars in Millions)202520242023202520242023
Innovative Medicine$2,0761,7101,653$3,7723,7603,847
MedTech2,5012,4432,3723,4903,2372,943
Segments total4,5774,1534,0257,2626,9976,790
Discontinued operations162383
General corporate255271356241342313
Worldwide total$4,8324,4244,543$7,5037,3397,486
 Sales to Customers
Long-Lived Assets (7)
(Dollars in Millions)20252024202320252024
United States$53,75250,30246,444$89,39270,670
Europe21,53520,21220,41027,98727,267
Western Hemisphere excluding U.S. 4,8754,7144,5492,2041,728
Asia-Pacific, Africa14,03113,59313,7561,5441,454
Segments total94,19388,82185,159121,127101,119
General corporate1,2171,217
Other non long-lived assets76,86677,768
Worldwide total$94,19388,82185,159$199,210180,104
See Note 1 for a description of the segments in which the Company operates.
Export sales are not significant. In fiscal year 2025, the Company utilized three wholesalers distributing products for both segments that represented approximately 21.8%, 15.5% and 11.1% of the total gross revenues. In fiscal year 2024, the Company had 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.
(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 year 2025 includes the reversal of approximately $7.0 billion, a significant portion of the previously accrued talc reserve. The fiscal years 2024 and 2023 include charges for talc matters of approximately $5.1 billion and $7.0 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:
Acquisition, integration and divestiture related net expense of $0.4 billion primarily related to the Intra-Cellular and Halda acquisitions
MedTech segment income before tax includes:
Litigation expense of $0.9 billion primarily related to the Auris shareholder litigation
Acquisition, integration and divestiture related net income of $0.2 billion, primarily driven by a contingent value right liability reduction associated with Abiomed
A restructuring related charge of $0.5 billion
A gain on the sale of securities of $0.2 billion
(4)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
(5)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
(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 2025, and 2024 of $23,169 and $20,518, respectively, and intangible assets and goodwill, net for fiscal years 2025 and 2024 of $99,175 and $81,818, respectively.
v3.25.4
Acquisitions and divestitures
12 Months Ended
Dec. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions and divestitures Acquisitions and divestitures
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.
2025 Transactions
During the fiscal year 2025, the Company acquired Intra-Cellular Therapies, Inc. (Intra-Cellular) and Halda Therapeutics OpCo, Inc. (Halda Therapeutics) for a total of $17.5 billion, net of cash acquired.
Halda Therapeutics
On December 26, 2025, the Company completed the acquisition of Halda Therapeutics, a clinical-stage biotechnology company with proprietary Regulated Induced Proximity TArgeting Chimera (RIPTACTM) platform to develop oral, targeting therapies for multiple types of solid tumors, including prostate cancer, in an all-cash merger transaction for total consideration transferred of approximately $3.05 billion, net of cash acquired. The acquisition was accounted for as a business combination and the results of operations and goodwill are included in the Innovative Medicine segment as of the acquisition date. Included in the total consideration transferred is $0.2 billion of acquisition-related costs, primarily related to post-closing compensation
expense due to the acceleration of equity awards. This expense was recorded in Other (income) expense, net.
The fair value of the assets acquired is $3.4 billion, which primarily relates to acquired in-process research and development (IPR&D) of $2.8 billion and goodwill of $0.6 billion. The fair value of the liabilities assumed is $0.6 billion, primarily related to deferred taxes. These values are preliminary and based on the best estimate of management, which is subject to change within the measurement period. The acquired in-process research and development includes two assets, HLD-0915 and HLD-0117, that are being studied to treat prostate cancer and breast cancer, respectively. The fair value of the IPR&D assets were calculated assuming a discount rate of 17% and 17.5%, respectively. Additionally, the cash flow projections assumed a probability of success factor of approximately 47%-68% (depending on indication being studied) for HLD-0915 and approximately 17% for HLD-0117. The goodwill is not deductible for tax purposes and is primarily attributable to intangible assets that did not qualify for separate recognition and currently unidentified projects and products, which will be developed using the RIPTACTM platform.
Intra-Cellular
On April 2, 2025, the Company completed the acquisition of Intra-Cellular, a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system disorders. This acquisition advances the Company’s industry-leading portfolio in mental health with the addition of CAPLYTA (lumateperone), the first and only U.S. FDA-approved treatment for bipolar I and II depression as an adjunctive therapy and monotherapy and is also approved for the treatment of schizophrenia in adults. During the fiscal fourth quarter of 2025, the U.S. FDA approved CAPLYTA as an adjunctive therapy with anti-depressants for the treatment of major depressive disorder in adults. This IPR&D asset was reclassified to a definite lived asset and began amortizing in the fiscal fourth quarter of 2025. This acquisition also includes a promising clinical-stage pipeline with best-in-class potential in generalized anxiety disorder and Alzheimer’s disease-related psychosis and agitation.
The Company acquired all the outstanding shares of Intra-Cellular’s common stock for $132.00 per share in an all-cash merger transaction for total consideration transferred of $14.5 billion. The acquisition was accounted for as a business combination and the results of operations and goodwill are included in the Innovative Medicine segment as of the acquisition date. In addition, acquisition-related costs before tax incurred during the fiscal 2025 were $0.4 billion, of which $0.1 billion related to post-closing compensation expense due to the acceleration of equity awards and were recorded to Other (income) expense, net.
The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date and is based on the best estimate of management, which is subject to change within the measurement period. As of the fiscal year ended December 28, 2025, there have been no material measurement period adjustments.
(Dollars in Billions)April 2, 2025
Assets acquired:
Cash and cash equivalents$0.2
Marketable securities0.6
Other current & non-current assets
0.3
Amortizable intangible asset(1)
5.2
Acquired in-process research and development(1)
8.3
Goodwill(2)
2.9
Total assets acquired$17.5
Liabilities assumed:
Deferred taxes$2.8
Other current & non-current liabilities0.2
Total liabilities assumed$3.0
Total assets acquired and liabilities assumed$14.5
(1)The estimated fair values of the intangible assets acquired were determined using the multi-period excess earnings method. The amortizable intangible asset relates to the currently marketed product, CAPLYTA, which has an estimated useful life of 8 years. The acquired in-process research and development includes two assets, one related to certain unapproved indications of lumateperone and another related to a compound being studied to treat psychosis and agitation in patients with Alzheimer’s disease and generalized anxiety disorder. The fair value of the in-process research and development assets were calculated assuming a discount rate of 11.5% and 12.5%, respectively. Additionally, the cash flow projections assumed a probability of success factor of 95% and approximately 34%-50% (depending on indication being studied), respectively.
(2)Goodwill is primarily attributable to intangible assets that did not qualify for separate recognition and future projects or products currently unidentified. Goodwill is not expected to be deductible for tax purposes.
2024 Transactions
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, in an all-cash merger transaction for total consideration of 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 liabilities assumed of $0.3 billion, including $0.1 billion of contingent consideration. The goodwill is not deductible for tax purposes. Acquisition related costs before tax for the fiscal years 2025 and 2024 were not material.
On May 31, 2024, the Company acquired all the outstanding shares of Shockwave Medical Inc. (SWAV), a leading, first-to-market provider of innovative intravascular lithotripsy (IVL) technology for the treatment of calcified coronary artery disease (CAD) and peripheral artery disease (PAD), in an all-cash merger transaction for total consideration of $12.6 billion, ($11.5 billion, net of cash acquired). The results of operations were included in the MedTech segment as of the acquisition date. The fair value of the acquisition was allocated to assets acquired of $14.4 billion primarily amortizable intangible assets of $5.3 billion, purchased IPR&D of $0.6 billion, goodwill for $7.6 billion, $0.5 billion of inventory and $0.4 billion of other assets, and liabilities assumed of $2.9 billion. The goodwill is not deductible for tax purposes. Acquisition related costs before tax were not material for the fiscal 2025 and were $0.9 billion for the fiscal 2024.
On March 7, 2024, the Company completed the acquisition of Ambrx Biopharma, Inc., (Ambrx), a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody drug conjugates (ADCs), in an all-cash merger transaction for a total consideration of approximately $1.8 billion net of cash acquired. 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. The goodwill is not deductible for tax purposes. Acquisition related costs before tax for the fiscal years 2025 and 2024 were not material.
2023 Transactions
During the fiscal year 2023, the Company did not make any acquisitions that qualified as a business combination. In accordance with U.S. GAAP standards related to business combinations, and goodwill and other intangible assets, supplemental pro forma information for fiscal years 2025, 2024 and 2023 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
If it is determined that the acquired set does not meet the definition of a business under the acquisition method of accounting, the transaction is accounted for as an asset acquisition. In this case, no goodwill is recorded, acquired in-process research and development (IPR&D) with no alternative future use is immediately recorded as research and development expense and contingent consideration is recorded when the related event occurs.
2025 Transactions
There were no material asset acquisitions in the fiscal 2025.
2024 Transactions
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. In 2025, the results of a planned interim analysis of the Phase 2b Duplex-AD proof-of-concept study met prespecified criteria for early termination of the study.
2023 Transactions
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. During 2025, the Company, in consultation with the Independent Data Safety Monitoring Board, suspended the pivotal investigational device exemption study.
Divestitures
There were no material divestitures in the fiscal year 2025.
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.
There were no material divestitures in the fiscal year 2023.
v3.25.4
Legal proceedings
12 Months Ended
Dec. 28, 2025
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 28, 2025, 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 all the 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 an effort to expeditiously resolve the litigation for the overwhelming majority of claimants, beginning in October 2021, Johnson & Johnson Consumer Inc. (Old JJCI) implemented a corporate restructuring, through which 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).
Following the 2021 Corporate Restructuring, Debtor and the Company attempted to achieve a full and comprehensive resolution of the Talc-Related Liabilities. Debtor filed voluntary petitions for Bankruptcy pursuant to Chapter 11 of the Bankruptcy Code in October 2021 and again in April 2023; both petitions were dismissed.
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).
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 constituted 99.75% of then-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.
While the Company had resolved 95% of the mesothelioma lawsuits filed to date as of August 2024, cases continue to be filed. Trial activity has continued in various state courts.
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. Shortly thereafter, as a consequence of this filing, the Company withdrew its appeal of the LTL 2 dismissal decision.
To account for the contemplated comprehensive resolution through the Proposed Plan, the Company recorded a cumulative incremental charge of approximately $5.0 billion during fiscal year 2024. As of the end of fiscal year 2024, the total present value of the reserve was approximately $11.6 billion (or nominal value of approximately $13.5 billion).
In March 2025, the Texas Bankruptcy Court issued an order dismissing the case (the Texas dismissal) and, as a result, the Company reversed substantially all, or approximately $7 billion, from amounts previously reserved for the bankruptcy resolution. As of the fourth quarter 2025, the total present value of the reserve is approximately $3.4 billion, comprising previously executed settlement agreements, litigation defense and other costs. Approximately one-third of the reserve is recorded as a current liability.
After the Texas dismissal, the Company announced it would not appeal the decision and returned to the tort system to litigate the talc claims and defend the safety of its products. Ovarian cancer trials are being scheduled in various state courts throughout 2026 and beyond. In the MDL, the court is addressing the Company's Daubert motions related to general causation, specific causation, and certain asbestos testing methods. In January 2026, the Special Master issued her Report and Recommendation related to general causation, excluding certain opinions by plaintiff experts, but also allowing other opinions to proceed. The Company will file an appeal of the Report and Recommendation to the District Court. The remaining Daubert motions are expected to be decided in the first half of 2026.
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 voluntary petitions 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).
In February 2021, Cyprus Mines Corporation (Cyprus), which sold certain talc mines and assets to Imerys, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the Delaware Bankruptcy Court.
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 the Imerys debtors' and Cyprus debtors' respective Chapter 11 cases, entered into a global settlement agreement (the Imerys Settlement Agreement) to resolve the parties' ongoing disputes, including disputes raised in the Imerys and Cyprus bankruptcies regarding (i) the Company's alleged obligations to indemnify Imerys and Cyprus for personal injury claims allegedly caused by exposure to talc contained in the Company's products and (ii) entitlements to proceeds of certain of the Company's insurance policies. In October 2024, the Delaware Bankruptcy Court entered an order approving the Imerys Settlement Agreement (the Settlement Order).
Certain insurers have appealed the Settlement Order and sought a stay of the Settlement Order pending appeal, which the Delaware Bankruptcy Court denied in January 2025. In August 2025, the District Court denied the insurers' appeal of the Settlement Order. The insurers have appealed that decision to the Third Circuit. Briefing is expected to be completed in February 2026.
Imerys and Cyprus have both proposed Chapter 11 plans, which contemplate talc claims being channeled to a trust and resolved in accordance with distribution procedures. A joint confirmation hearing for the plans began in April 2025 and is scheduled to continue in February 2026.
In February 2018, a securities class action lawsuit was filed against the Company and certain named officers in the United States District Court for the District of New Jersey, alleging that the Company violated the federal securities laws by failing to disclose alleged asbestos contamination in body powders containing talc, primarily JOHNSON’S Baby Powder, and that purchasers of the Company’s shares suffered losses as a result. In April 2019, the Company moved to dismiss the complaint. In December 2019, the court denied, in part, the motion to dismiss. In 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, and in March 2025, the Third Circuit heard oral argument. In July 2025, the Third Circuit affirmed the court's order granting class certification. In September 2025, Defendants petitioned the Third Circuit for rehearing or rehearing en banc, which was denied in October 2025. In February 2026, the Company filed a writ of certiorari with the United States Supreme Court. In December 2025, the District Court set deadlines for expert discovery through August 2026.
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 80% of the all-in settlement was paid by the end of fiscal year 2025. 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 23 remaining opioid cases against the Company and JPI in various state courts, 285 remaining cases in the Ohio multi-district litigation (MDL), and 3 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. The defendants, including the Company, filed appeals from the certification order in late February 2025. That appeal was heard in December 2025. A common issues trial has been scheduled in 2028. 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.
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 28, 2025.
Product or product categoryNumber of plaintiffs
Body powders containing talc, primarily JOHNSON’S Baby Powder74,360
DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System30
PINNACLE Acetabular Cup System680
Pelvic meshes5,190
ETHICON PHYSIOMESH Flexible Composite Mesh110
ELMIRON790
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. 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. A small number of lawsuits, however, remain active throughout the world, including individual actions in the United States, Ireland, and India, among others. The Company continues to receive information with respect to potential additional costs associated with these outstanding actions and has established accruals for the remaining worldwide litigation and recall costs.
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 in June 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
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.
The Company’s Innovative Medicine 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.
Innovative Medicine
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.; Cipla Ltd.; Cipla USA Inc.; InvaGen Pharmaceuticals, Inc.; and Prinston Pharmaceuticals, Inc. The following U.S. patents are included in one or more cases: 9,539,218 and 10,828,310. In December 2025 and January 2026, the cases against 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.; Cipla Ltd.; Cipla USA Inc.; InvaGen Pharmaceuticals, Inc.; and Prinston Pharmaceuticals, Inc. were dismissed with prejudice. In January 2026, the Company entered into a confidential settlement agreement with Mankind Pharma Limited.
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. In September 2025, the Federal Circuit entered a decision affirming-in-part, vacating-in-part, and remanding for further proceedings. In January 2026, the USPTO entered judgment against petitioners upon remand.
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: Pharmascience Inc.; Mallinckrodt PLC; Specgx LLC; Tolmar, Inc.; Accord Healthcare, Inc.; Qilu Pharmaceutical Co. Ltd.; Qilu Pharma Inc.; Sun Pharmaceutical Industries Ltd.; and Sun Pharmaceutical Industries, Inc. The following U.S. patent is included in one or more cases: 9,439,906. 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 of a subset of the claims, and based on a claim construction ruling, the district court entered a non-infringement order with respect to the remaining asserted claims. Tolmar has appealed the validity decision, and Janssen appealed the non-infringement decision. In November 2025, the court entered judgments against the Accord and Qilu defendants. In December 2025, Janssen and the Sun defendants entered into a confidential settlement agreement and a consent judgment was entered by the court.
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.
ERLEADA
In January 2025, Aragon Pharmaceuticals, Inc., Janssen Inc., (collectively, Janssen Inc.) and Sloan-Kettering Institute for Cancer Research (SKI) initiated Statements of Claims under Section 6 of the Patented Medicines (Notice of Compliance) Regulations against Sandoz Canada Inc. (Sandoz) in response to Sandoz’s filing of an ANDS seeking approval to market a generic version of ERLEADA before the expiration of CA Patent Nos. 3,008,345 (the ’345 patent), 2,875,767 (the ’767 patent), 2,885,415 (the ’415 patent), and 3,128,331 (the ’331 patent). Janssen Inc. and SKI are seeking an order enjoining Sandoz from marketing a generic version of ERLEADA before the expiration of the relevant patents.
Beginning in April 2025, Aragon Pharmaceuticals, Inc., Janssen Biotech, Inc., The Regents of the University of California, and Sloan-Kettering Institute for Cancer Research variously initiated patent infringement lawsuits in U.S. District Court for the District of New Jersey against generic manufacturers who have filed ANDAs seeking approval to market generic versions of ERLEADA before the expiration of certain Orange Book Listed Patents. The following entities are named defendants: Lupin Limited; Lupin Pharmaceuticals, Inc.; Hetero Labs Limited Unit V; and Hetero USA, Inc. The following U.S. patents are included in one or more cases: 8,445,507; 8,802,689; 9,338,159; 9,987,261; 9,481,663; 9,884,054; RE49,353; 10,849,888; 10,702,508; and 11,963,952. Aragon Pharmaceuticals, Inc., Janssen Biotech, Inc. and the Lupin parties entered into a confidential settlement in August 2025, and the case was 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. In January 2026, Janssen and Hikma entered into a confidential settlement agreement, and a consent judgment was entered by the court. A trial against Sandoz is scheduled to begin in February 2026.
CAPLYTA
Beginning in March 2024, Intra-Cellular Therapies, Inc. (Intra-Cellular) filed patent infringement lawsuits in the United States District Court for the District of New Jersey against generic manufacturers who have filed ANDAs seeking approval to market generic versions of CAPLYTA before expiration of certain Orange Book Listed Patents. The following entities are named defendants: Aurobindo Pharma Ltd., Aurobindo Pharma USA, Inc., Alkem Laboratories Ltd., Dr. Reddy’s Laboratories Inc., Dr. Reddy’s Laboratories Ltd., MSN Laboratories Private Ltd., Zydus Pharmaceuticals (USA) Inc., and Zydus Lifesciences Ltd. The following U.S. Patents are included in one or more cases: US RE 48,825; RE 48,839; 8,648,077; 9,168,258; 9,199,995; 9,616,061; 9,956,227; 10,117,867; 10,464,938; 10,960,009; 11,026,951; 11,753,419; 11,980,617; 12,070,459; 12,090,155; 12,122,792; 12,128,043; 12,409,176; and 12,410,195. In December 2025, Intra-Cellular, Dr. Reddy's Laboratories Inc., and Dr. Reddy's Laboratories Ltd. entered into a confidential settlement agreement, and the case was dismissed.
UPTRAVI
Beginning in September 2025, Actelion Pharmaceuticals Ltd, Actelion Pharmaceuticals US, Inc., and Nippon Shinyaku Co. Ltd. filed a patent infringement lawsuit in the United States District Court for the District of New Jersey against generic manufacturers who have filed ANDAs seeking approval to market generic versions of UPTRAVI before expiration of certain Orange Book Listed Patents. The following entities are named defendants: VGYAAN Pharmaceuticals LLC, RK Pharma, Inc., Apotex Inc., and Apotex Corp. The following patents are included in one or more cases: 7,205,302; 8,791,122; and 9,284,280. In November 2025, Actelion, Nippon Shinyaku Co. Ltd., VGYAAN Pharmaceuticals LLC, and RK Pharma Inc. entered into a confidential settlement agreement, and the court entered a consent judgment ending the action.
CARVYKTI
In January 2026, 2seventy bio, Inc. filed suit in the Unitary Patent Court, Local Division of Brussels, against Johnson & Johnson, Janssen Biotech, Inc., Janssen Pharmaceuticals Inc., Janssen-Cilag International NV, Janssen Pharmaceutica NV, Janssen-Cilag NV, Janssen Biologics B.V., Janssen-Cilag B.V., Janssen-Cilag GmbH, Janssen-Cilag, Janssen-Cilag SpA, Janssen-Cilag A/S, Janssen-Cilag Aktiebolag, Janssen-Cilag Farmaceutica Lda., Legend Biotech Corporation, Legend Biotech USA Inc., Legend Biotech Ireland Limited, and Legend Biotech Belgium BV. alleging that the manufacture and sale of CARVYKTI infringes EU Patent No. 3 689 383. In the suit, 2seventy bio, Inc. seeks damages and an injunction.
MedTech
In March 2016, Abiomed, Inc. filed a declaratory judgment action against Maquet Cardiovascular LLC (Maquet) in the U.S. District Court for the District of Massachusetts seeking a declaration that certain Impella products do not infringe Maquet patents, including U.S. Patent Nos. 7,022,100 (’100 patent); 8,888,728; and 9,327,068. Maquet counterclaimed for infringement of those patents against Abiomed, Inc., Abiomed Europe GmbH, and Abiomed R&D, Inc. (collectively, Abiomed), and later added claims for infringement of U.S. Patent Nos. 9,545,468; 9,561,314; and 9,597,437. 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. In February 2026, the U.S. Court of Appeals for the Federal Circuit affirmed-in-part, vacated-in-part, and remanded to the District Court.
In November 2017, Maquet Cardiovascular LLC filed suit against Abiomed, Inc., Abiomed R&D, Inc., and Abiomed Europe GmbH (collectively, Abiomed) in the U.S. District Court for the District of Massachusetts, alleging that certain Impella products infringe U.S. Patent No. 9,789,238 (’238 patent). Maquet subsequently added U.S. Patent No. 10,238,783 (’783 patent). After claim construction, the court entered a stipulated judgment of non-infringement of both patents. Maquet appealed. In March 2025, the U.S. Court of Appeals for the Federal Circuit left undisturbed the judgment on non-infringement of the ’238 patent, vacated the judgment regarding the ’783 patent, and remanded the case to the District Court for further proceedings on the ’783 patent. Trial is scheduled to begin in May 2026.
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 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 provided documents and information responsive to the Civil Investigative Demands and is continuing to cooperate 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. In June 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 challenged the verdict on the off-label claims in post-trial briefing. In March 2025, the court dismissed the state law portion of the claims but entered judgment on the federal claims. The Company appealed the remainder of the verdict to the Third Circuit. Briefing is complete and oral argument is scheduled for March 2026.
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 regularly face claims in legal proceedings related to contracts, trade secrets, antitrust, unfair competition, consumer protection, and environmental issues, the most significant of which are listed below. Although the Company and its subsidiaries believe that they have substantial defenses to these cases, there can be no assurance as to the outcome of these matters. A loss in any of these cases could require the payment of damages, injunctions, and/or other relief.
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 2024, the Supreme Court vacated the D.C. Circuit's decision and remanded the case to the D.C. Circuit for reconsideration. In January 2026, the D.C. Circuit affirmed its reversal of the District Court's dismissal of the complaint.
In February 2024, a putative class action was filed against the Company and the Pension & Benefits Committee of Johnson & Johnson (Committee) in United States District Court for the District of New Jersey. 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, with leave to replead. In March 2025, plaintiffs filed a second amended complaint. In April 2025, defendants filed a motion to dismiss plaintiffs' fiduciary duty claims. In November 2025, the court granted defendants' motion to dismiss plaintiffs' fiduciary duty claims. Plaintiffs voluntarily withdrew their remaining claim, and the court entered final judgment in defendants' favor in January 2026. Plaintiffs have filed a notice of appeal to the United States Court of Appeals for the Third Circuit.
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. 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. In January 2026, the Delaware Supreme Court reversed in part and affirmed in part the Chancery Court's decision, including a $0.8 billion judgment against the Company that was accrued in the fiscal fourth quarter of 2025 and subsequently paid in January 2026.
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. In May 2025, a jury returned its verdict in favor of Innovative Health. In August 2025, the court issued a permanent injunction concerning BWI's business practices. BWI appealed both the jury verdict and the permanent injunction.
Innovative Medicine
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 plaintiffs' 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 2025, the court granted plaintiffs' motion for class certification. In January 2026, the court granted summary judgment for Janssen on plaintiffs' claim regarding patents obtained through the acquisition of Momenta Pharmaceuticals, Inc. in 2020.
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.
In August 2025, Xoma Corporation (Xoma) filed a complaint against Janssen Biotech, Inc. (Janssen) in the United States District Court for the Eastern District of Pennsylvania. The complaint alleges breach of contract, unjust enrichment, and declaratory relief claims against Janssen regarding the alleged failure to obtain a license from Xoma in connection with Janssen's commercialization of TREMFYA. In December 2025, the court denied Janssen's motion to dismiss the complaint.
v3.25.4
Restructuring
12 Months Ended
Dec. 28, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
In fiscal 2025, the company initiated a restructuring program of its Surgery franchise within the MedTech segment to simplify and focus operations by exiting certain non-strategic product lines and optimize select sites across the network. The pre-tax restructuring expense of $0.2 billion in the fiscal year 2025, primarily included costs related to asset impairments as well as product exits. The estimated costs of the total program are between $0.9 billion - $1.0 billion and is expected to be substantially completed by the end of fiscal year 2026.
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 $0.3 billion in the fiscal year 2025 primarily included costs related asset impairments as well as market and product exits. 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 $0.8 billion have been recorded since the restructuring was announced and the program has been substantially completed in the fiscal year 2025.
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 and the program was completed in the fiscal fourth quarter of 2024.
The following table summarizes the restructuring expenses for the fiscal years 2025, 2024 and 2023:
(Pre-tax Dollars in Millions)202520242023
MedTech Segment Surgery franchise(1)
$205
MedTech Segment Orthopaedics franchise(2)
307167319
Innovative Medicine Segment(3)
102479
Total Programs$512269798
(1)The fiscal year of 2025 included $76 million in restructuring, $122 million in Other income and expense and $7 million in Cost of products sold on the Consolidated Statement of Earnings
(2)The fiscal year of 2025 included $152 million in restructuring, $71 million in Other income and expense and $84 million in Cost of products sold on the Consolidated Statement of Earning 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. This program was substantially completed in the fiscal year 2025.
(3)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. This program was completed in the fiscal fourth quarter of 2024.
Restructuring reserves as of December 28, 2025, December 29, 2024 and December 31, 2023 were insignificant.
v3.25.4
Kenvue separation and discontinued operations
12 Months Ended
Dec. 28, 2025
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.
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 the majority of services under the TSAs generally terminated 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 fiscal years 2025, 2024 and 2023. Additionally, the amounts due to and from Kenvue for the above agreements was not material as of December 28, 2025.
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 in the fiscal year 2023, 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.
Details of Net Earnings from Discontinued Operations, net of taxes are as follows:
(Dollars in Millions)
2023(1)
Sales to customers$10,036
Cost of products sold4,369
Gross profit5,667
Selling, marketing and administrative expenses3,085
Research and development expense258
Interest Income(117)
Interest expense, net of portion capitalized199
Other (income) expense, net1,092
(Gain) on separation of Kenvue(20,984)
Earnings from Discontinued Operations Before Provision for Taxes on Income22,134
Provision for taxes on income307
Net earnings from Discontinued Operations$21,827
(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)
Depreciation and Amortization$383
Capital expenditures$162
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 28, 2025
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
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Dec. 28, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 28, 2025
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
v3.25.4
Summary of significant accounting policies (Policies)
12 Months Ended
Dec. 28, 2025
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: Oncology, Immunology, Neuroscience, Pulmonary Hypertension, Infectious Diseases, 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 Surgery, Orthopaedic, Cardiovascular 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. In October 2025, the Company announced its intention to separate its Orthopaedics business. The Company intends to explore multiple paths to effect the planned separation with a targeted completion within 18 to 24 months after the initial announcement.
New accounting standards and Recently issued accounting standards
New accounting standards
Recently adopted accounting standards
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. The Company adopted this standard prospectively for fiscal year 2025. As this accounting standard only impacts disclosures, it did not have an impact on the Company’s consolidated financial results. See Note 8 to the Company's financial statements for the required disclosures.
Recently issued accounting standards
Not adopted as of December 28, 2025
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.
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. 
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.
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 5 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.
Adjustments to revenue recognized as a result of changes in estimates for the Company's most significant U.S. rebates and discounts liability balances for products shipped in previous periods were approximately 3.0% and 2.0% of U.S. Innovative Medicine revenue during the fiscal years 2025 and 2024, respectively.
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 $13.0 billion and $12.3 billion as of December 28, 2025 and December 29, 2024, 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 2025, 2024 and 2023.
Promotional programs 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 2025, 2024 and 2023.
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 during each of the fiscal years 2025, 2024 and 2023, 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 2025 in the fiscal fourth quarter, which did not result in an impairment. 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 facts or circumstances indicate that the carrying value of the assets may not be recoverable. 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.
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: 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 was $1.3 billion and $1.1 billion in fiscal years 2025 and 2024, respectively. The lease liability was $1.4 billion and $1.2 billion in fiscal years 2025 and 2024, respectively. The operating lease costs from continuing operations were $0.2 billion in fiscal years 2025, 2024 and 2023. Cash paid for amounts included in the measurement of lease liabilities from continuing operations were $0.3 billion in 2025 and $0.2 billion in fiscal years 2024 and 2023.
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 $1.6 billion, $0.6 billion and $0.5 billion in fiscal years 2025, 2024 and 2023, 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 law and rates. Future changes in tax laws and rates may affect recorded deferred tax assets and liabilities in the future.
The Company records 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.
The United States enacted into law on July 4, 2025, the One Big Beautiful Bill Act, (OBBBA). The OBBBA includes provisions modifying the corporate income tax code, including the immediate expensing of domestic research and development expenditures for tax purposes, 100% bonus depreciation for qualified assets, and an increase in the statutory tax rate on foreign earnings from 10.5% to 12.6%. The law also renamed the provision for taxes on foreign earnings from Global Intangible Low-Taxed Income (GILTI) to Net Controlled Foreign Corporation (CFC) Tested Income (NCTI). The Company will continue to account for NCTI under the deferred method as discussed below under the previous U.S. Tax Cuts and Jobs Act (TCJA) provisions.
Previous to the OBBBA, the United States had passed legislative changes in 2017, the TCJA which 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 did not accrue interest. The final payment of $2.5 billion was made in fiscal year 2025.
The TCJA also included provisions for a tax on GILTI, which 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, now NCTI, under the deferred method. The deferred tax amounts recorded are based on the evaluation of temporary differences that are expected to reverse as NCTI is incurred in future periods.
The Company has not provided deferred taxes on the undistributed earnings on 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 record the net tax effects on these amounts. The Company estimates that the tax effect of this repatriation would be approximately $0.6 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.
v3.25.4
Summary of significant accounting policies (Tables)
12 Months Ended
Dec. 28, 2025
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:
20252024
(Dollars in Millions)
Confirmed obligations - beginning of the year$788704
Invoices confirmed during the year2,9973,048
Confirmed invoices paid during the year3,0162,964
Effect of exchange rates15
Confirmed obligations - end of the year$784788
v3.25.4
Cash, cash equivalents and current marketable securities (Tables)
12 Months Ended
Dec. 28, 2025
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalent Composition
At the end of the fiscal year 2025 and 2024, cash, cash equivalents and current marketable securities comprised:
(Dollars in Millions)2025
Carrying
Amount
Estimated
Fair Value
Cash & Cash
Equivalents
Current
Marketable
Securities
Cash$3,2993,2993,299
U.S. Reverse repurchase agreements7,0637,0637,063
Money market funds5,9935,9935,993
Time deposits(1)
893893893
Subtotal $17,24817,24817,248
U.S. Gov't Securities$2,3652,3652,32441
Other Sovereign Securities260260102158
Corporate and other debt securities22922935194
Subtotal available for sale(2)
$2,8542,8542,461393
Total cash, cash equivalents and current marketable securities
$19,709393
(Dollars in Millions)2024
Carrying
Amount
Unrecognized
Gain
Estimated
Fair Value
Cash & Cash
Equivalents
Current
Marketable
Securities
Cash$2,9182,9182,918
Non-U.S. Sovereign Securities(1)
120120120
U.S. Reverse repurchase agreements7,1007,1007,100
Money market funds6,1236,1236,123
Time deposits(1)
1,0451,0451,045
Subtotal 17,30617,30617,186120
U.S. Gov't Securities$6,81516,8166,79620
Other Sovereign Securities1761768393
Corporate and other debt securities22422440184
Subtotal available for sale(2)
$7,21517,2166,919297
Total cash, cash equivalents and current marketable securities
$24,105417
(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 28, 2025 are as follows:
(Dollars in Millions)Cost BasisFair Value
Due within one year$2,8292,829
Due after one year through five years2525
Due after five years through ten years
Total debt securities$2,8542,854
v3.25.4
Inventories (Tables)
12 Months Ended
Dec. 28, 2025
Inventory Disclosure [Abstract]  
Summary of Inventories
At the end of fiscal years 2025 and 2024, inventories comprised:
(Dollars in Millions)20252024
Raw materials and supplies$2,5302,337
Goods in process3,8282,815
Finished goods7,8337,292
Total inventories$14,19112,444
v3.25.4
Property, plant and equipment (Tables)
12 Months Ended
Dec. 28, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment at Cost and Accumulated Depreciation
At the end of fiscal years 2025 and 2024, property, plant and equipment at cost and accumulated depreciation were:
(Dollars in Millions)20252024
Land and land improvements$701718
Buildings and building equipment13,42912,317
Machinery and equipment32,87329,444
Construction in progress7,3616,289
Total property, plant and equipment, gross$54,36448,768
Less accumulated depreciation31,19528,250
Total property, plant and equipment, net$23,16920,518
v3.25.4
Intangible assets and goodwill (Tables)
12 Months Ended
Dec. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill
At the end of fiscal years 2025 and 2024, the gross and net amounts of intangible assets were:
(Dollars in Millions)20252024
Intangible assets with definite lives:  
Patents and trademarks — gross(1)
$59,15644,695
Less accumulated amortization(32,507)(26,124)
Patents and trademarks — net$26,64918,571
Customer relationships and other intangibles — gross$21,36120,310
Less accumulated amortization(14,998)(13,544)
Customer relationships and other intangibles — net(2)
$6,3636,766
Intangible assets with indefinite lives:  
Trademarks(3)
1,772
Purchased in-process research and development15,61912,281
Total intangible assets with indefinite lives$17,39112,281
Total intangible assets — net$50,40337,618
(1)See Note 18 to the Consolidated Financial Statements for additional details related to acquisitions and divestitures.
(2)The majority is comprised of customer relationships.
(3)In October 2025, the Company announced its intention to separate its Orthopaedics business, to be named DePuy Synthes. In connection with this strategic decision, the Company determined the DePuy Synthes trademarks will continue to be used on existing and future products. Therefore, $1.7 billion of trademarks associated with the DePuy Synthes brand were reclassified from definite lived to indefinite lived. This reclassification reflects management’s revised expectations regarding the future economic life and continued use of these trademarks through and following the planned separation. Based on a qualitative assessment, the Company concluded that the trademarks are not impaired.
Goodwill
Goodwill as of December 28, 2025 and December 29, 2024, as allocated by segment of business, was as follows:
(Dollars in Millions)Innovative
Medicine
MedTechTotal
Goodwill at December 31, 2023$10,40726,15136,558
Goodwill, related to acquisitions6407,5698,209
Goodwill, related to divestitures(56)(56)
Currency translation/other(355)(156)(511)
Goodwill at December 29, 202410,69233,50844,200
Goodwill, related to acquisitions3,4883,488
Goodwill, related to divestitures(29)(29)
Currency translation/other7873261,113
Goodwill at December 28, 2025$14,96733,80548,772
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)
20262027202820292030
$5,1004,4003,7003,6003,500
v3.25.4
Fair value measurements (Tables)
12 Months Ended
Dec. 28, 2025
Fair Value Disclosures [Abstract]  
Summary of Derivative Activity
The following table is a summary of the activity related to derivatives and hedges for the fiscal years ended December 28, 2025 and December 29, 2024, net of tax:
December 28, 2025December 29, 2024
(Dollars in Millions)SalesCost of
Products
Sold
R&D
Expense
Interest
(Income)
Expense
Other
(Income)
Expense
SalesCost of
Products
Sold
R&D
Expense
Interest
(Income)
Expense
Other
(Income)
Expense
The effects of fair value, net investment and cash flow hedging:
Gain (Loss) on fair value hedging relationship:
Interest rate swaps contracts:
Hedged items$—33864
Derivatives designated as hedging instruments(338)(64)
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$—193148
Amount of gain or (loss) recognized in AOCI193148
Gain (Loss) on cash flow hedging relationship:
Forward foreign exchange contracts:
Amount of gain or (loss) reclassified from AOCI into income441(52)(19)2426336
Amount of gain or (loss) recognized in AOCI11715(109)(44)(7)(156)8021
Cross currency interest rate swaps contracts:
Amount of gain or (loss) reclassified from AOCI into income326247
Amount of gain or (loss) recognized in AOCI$—1,187(597)
As of December 28, 2025 and December 29, 2024, 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 28, 2025December 29, 2024December 28, 2025December 29, 2024
Long-term Debt$8,318$7,935$(694)$(1,132)
Schedule of Effect of Derivatives not Designated as Hedging Instruments
The following table is the effect of derivatives not designated as hedging instrument for the fiscal years ended
December 28, 2025 and December 29, 2024:
(Dollars in Millions)Location of Gain /(Loss)
Recognized in Income on
Derivative
Gain/(Loss)
Recognized In
Income on Derivative
Derivatives Not Designated as Hedging InstrumentsDecember 28, 2025December 29, 2024
Foreign Exchange ContractsOther (income) expense$(265)8
Schedule of Effect of Net Investment Hedges
The following table is the effect of net investment hedges for the fiscal years ended December 28, 2025 and
December 29, 2024:
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 28, 2025December 29, 2024December 28, 2025December 29, 2024
Debt$(1,190)282Interest (income) expense
Cross Currency interest rate swaps$277955Interest (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 28, 2025 and December 29, 2024:
December 29, 2024December 28, 2025
(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$451230(16)665665
Equity Investments without readily determinable value$773253(116)910910
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
(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 28, 2025 and December 29, 2024 were as follows:
20252024
(Dollars in Millions)Level 1Level 2Level 3Total
Total(1)
Derivatives designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—686686660
Interest rate contracts(2)
5895891,484
Total$—1,2751,2752,144
Liabilities:     
Forward foreign exchange contracts413413794
Interest rate contracts(2)
5,8485,8483,753
Total$—6,2616,2614,547
Derivatives not designated as hedging instruments:     
Assets:     
Forward foreign exchange contracts $—383850
Liabilities:     
Forward foreign exchange contracts464617
Available For Sale Other Investments:
Equity investments(3)
665665451
Debt securities(4)
2,8542,8547,216
Other Liabilities
Contingent Consideration(5)
$7537531,217
Gross to Net Derivative Reconciliation20252024
(Dollars in Millions)
Total Gross Assets$1,3132,194
Credit Support Agreements (CSA)(1,308)(2,172)
Total Net Asset522
Total Gross Liabilities6,3074,564
Credit Support Agreements (CSA)(5,903)(4,412)
Total Net Liabilities$404152
Summarized information about changes in liabilities for contingent consideration is as follows:
202520242023
(Dollars in Millions)
Beginning Balance
$1,2171,0921,120
Changes in estimated fair value(6)
(387)8829
Additions(7)
112
Payments/Other
(77)(75)(57)
Ending Balance(5)
$7531,2171,092
(1)2024 assets and liabilities are all classified as Level 2 with the exception of equity investments of $451 million, which are classified as Level 1 and contingent consideration of $1,217 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 $753 million, $1,217 million and $1,092 million, classified as non-current other liabilities as of December 28, 2025,
December 29, 2024 and December 31, 2023, respectively.
(6)In fiscal year 2025, the Company recorded a reduction of $364 million to the CVR liability associated with the 2022 Abiomed acquisition based on the reduced probability of the achievement of certain developmental and commercial milestones by the dates required in the CVR agreement. The remaining CVR balance is $0.4 billion.
(7)In fiscal year 2024, the Company recorded $105 million of contingent consideration related to Proteologix.
As of December 28, 2025 and December 29, 2024, cash and cash equivalents includes money market funds of $5,993 million and $6,123 million, respectively, which would be considered level 1 in the fair value hierarchy
v3.25.4
Borrowings (Tables)
12 Months Ended
Dec. 28, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The components of long-term debt are as follows:
(Dollars in Millions)2025 2024
2.625% Notes due 2025
$—750
0.55% Notes due 2025
999
2.45% Notes due 2026
2,0001,999
2.95% Notes due 2027
968927
0.95% Notes due 2027
1,4991,458
4.50% Notes due 2027(4)
749
1.150% Notes due 2028 (750MM Euro 1.1785)(1)/(750MM Euro 1.0401)(2)
882777
2.90% Notes due 2028
1,4981,498
4.55% Notes due 2028(4)
748
6.95% Notes due 2029
299 298
4.80% Notes due 2029
1,1471,146
2.70% Notes due 2029 (4) (600MM Euro 1.1785)(1)
707
1.30% Notes due 2030
1,6931,646
4.70% Notes due 2030(4)
996
4.90% Notes due 2031
1,1461,145
3.20% Notes due 2032 (700MM Euro 1.1785)(1)/($700MM Euro 1.0401)(2)
822725
4.85% Notes due 2032(4)
1,243
4.95% Notes due 2033
499499
4.375% Notes due 2033
853854
3.05% Notes due 2033(4) ( 700MM Euro 1.1785)(1)
823
4.95% Notes due 2034
847846

1.650% Notes due 2035 (1.5B Euro 1.1785)(1)/(1.5B Euro 1.0401)(2)
1,7581,550
5.00% Notes due 2035(4)
1,244
3.35% Notes due 2036 (800MM Euro 1.1785)(1)(800MM Euro 1.0401)(2)
938827
3.587% Notes due 2036
919869
5.95% Notes due 2037
995 994
3.625% Notes due 2037
1,4091,358
3.35% Notes due 2037(4) (1B Euro 1.1785)(1)
1,176
5.85% Notes due 2038
697 697
3.40% Notes due 2038
994993
4.50% Notes due 2040
542 541
2.10% Notes due 2040
898845
4.85% Notes due 2041
298297
4.50% Notes due 2043
497496
3.55% Notes due 2044 (1B Euro 1.1785)(1)(1B Euro 1.0401)(2)
1,1681,030
3.60% Notes due 2045(4) (700MM Euro 1.1785)(1)
819
3.73% Notes due 2046
1,9791,978
3.75% Notes due 2047
876822
3.50% Notes due 2048
744744
2.25% Notes due 2050
861808
5.25% Notes due 2054
843843
3.70% Notes due 2055(4) (1B Euro 1.1785)(1)
1,173
2.45% Notes due 2060
1,1121,058
Other79 83
Subtotal41,438
(3)
32,400
(3)
Less current portion2,000 1,749
Total long-term debt$39,438 $30,651
(1)Translation rate at December 28, 2025.
(2)Translation rate at December 29, 2024.
(3)The excess of the carrying value over the fair value of debt was $1.7 billion and $2.0 billion at the end of the fiscal year 2025 and the fiscal year 2024, respectively.
(4)In the fiscal first quarter of 2025, the Company issued senior unsecured notes for approximately $9.2 billion. The net proceeds from this offering were used to fund the Intra-Cellular Therapies, Inc. acquisition which closed on April 2, 2025, and for general corporate purposes.
Aggregate Maturities of Long Term Obligations
Aggregate maturities of long-term debt obligations commencing in 2026 are:
(Dollars in Millions)
20262027202820292030After 2030
$2,0003,2163,1282,1532,68928,252
v3.25.4
Income taxes (Tables)
12 Months Ended
Dec. 28, 2025
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The provision for taxes on income on continuing operations consists of:
(Dollars in Millions)202520242023
Currently payable:
U.S. taxes$1,1632,2002,705
International taxes3,0762,6043,090
Total currently payable4,2394,8045,795
Deferred:
U.S. taxes2,008(2,539)(3,440)
International taxes(470)356(619)
Total deferred1,538(2,183)(4,059)
Provision for taxes on income$5,7772,6211,736
Comparison of Income Taxes at Statutory Rate and Company's Effective Tax Rate
Below is a tabular rate reconciliation of the U.S. statutory income tax rate of 21% to the Company's effective income tax rate for the fiscal year 2025, pursuant to the new disclosure requirements of ASU 2023-09 (See Note 1 of the Consolidated Financial Statements):
(Dollars in Millions)2025
U.S. $15,254
International17,327
Earnings before taxes on income:32,581
Tax rates:
U.S. federal statutory rate6,84221.0%
State & local taxes:(1)
1620.5 
Foreign tax effects:(861)(2.7)
Ireland
Statutory tax rate difference between Ireland & U.S.(473)(1.5)
Other(11)(0.0)
Switzerland
Statutory tax rate difference between Switzerland & U.S.(607)(1.9)
Other2830.9 
All Other Jurisdictions(53)(0.2)
Effects of changes in tax laws or rates enacted in the current period: 1,0033.1 
OBBBA Deferred NCTI Remeasurement1,0033.1 
Effects of cross border tax laws:1,6014.9 
NCTI(2)
9993.1 
Subpart F5221.6 
Other800.2 
Tax credits: (2,455)(7.6)
NCTI foreign tax credits(2)
(1,324)(4.1)
Subpart F foreign tax credits(656)(2.0)
All other tax credits(475)(1.5)
Changes in valuation allowances:1360.4 
Nontaxable or nondeductible items:550.2 
Changes in unrecognized tax benefits:(111)(0.3)
Other adjustments:(595)(1.8)
Net tax benefit on ordinary losses(595)(1.8)
Effective Rate$5,77717.7 %
(1)Majority of state taxes are in the following states AL, CA, FL, IL, IN, KY, MA, MI, NJ, NY, PA, TN, VA, WI
(2)NCTI includes $(0.6) billion of accrued benefits as the Company has elected to account for NCTI under the deferred method. (See Note 1 to the Consolidated Financial Statements)
The below comparison table is a rate reconciliation of the U.S. statutory rate of 21% to the Company's effective tax rate for fiscal years 2024 and 2023:
(Dollars in Millions)20242023
U.S. $(458)(2,033)
International17,14517,095 
Earnings before taxes on income:$16,68715,062 
Tax rates:
U.S. statutory rate21.0 %21.0 
International operations(1)
(5.2)(8.1)
U.S. tax settlements1.0 (3.0)
U.S. taxes on international income(2)
(2.6)(0.3)
U.S. state taxes1.5 1.0 
Tax benefits on share-based compensation(0.6)(0.8)
All other0.6 1.7 
Effective Rate15.7 %11.5 
(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 2025 and 2024 were as follows:
2025 Deferred Tax2024 Deferred Tax
(Dollars in Millions)AssetLiabilityAssetLiability
Employee related obligations$54372
Stock based compensation651717
Depreciation of property, plant and equipment(929)(833)
Goodwill and intangibles(6,154)(3,261)
R&D capitalized for tax4,7524,398
Reserves & liabilities2,4334,444
Inventory related378371
Net operating loss & tax credit carryforwards3,5612,658
Undistributed foreign earnings1,718(2,969)2,668(1,492)
NCTI (Net CFC Tested Income)(2,495)(1,589)
Miscellaneous international620852
Miscellaneous U.S. 300346
Total deferred income taxes14,467(12,547)16,826(7,175)
Valuation allowances(1,837)(1,638)
Total deferred income taxes net of valuation allowances$12,630(12,547)15,188(7,175)
Summary of Valuation Allowance The following table summarizes the activity related to valuation allowances for continuing operations:
(Dollars in Millions)20252024
Beginning of year$1,6381,149
Provision129451
Utilization(70)
Foreign currency translation90(46)
Net acquisitions / (dispositions/liquidations)5084
End of year$1,837$1,638
Schedule of Cash Flow, Supplemental Disclosures
The following table summarizes income taxes paid net of tax refunds:
(Dollars in Millions)202520242023
U.S. Federal(1)
$3,5773,8154,722
U.S. State and Local taxes169341236
Total U.S.3,7464,1564,958
Total Foreign(2)
2,7932,5583,616
Total income taxes paid net of tax refunds$6,5396,7148,574
(1)Includes TCJA foreign undistributed earnings payments of $2.5 billion, $2.0 billion and $1.5 billion in fiscal years 2025, 2024 and 2023, respectively
(2)Included in foreign income taxes paid net of refunds are payments made in 2025 to Ireland for $0.6 billion and Switzerland for $0.5 billion
Schedule of Unrecognized Tax Benefits Roll Forward
The following table summarizes the activity related to unrecognized tax benefits for continuing operations:
(Dollars in Millions)202520242023
Beginning of year$2,0202,4853,716
Increases related to current year tax positions87176239
Increases related to prior period tax positions925129244
Decreases related to prior period tax positions(160)(147)(781)
Settlements(10)(583)(880)
Lapse of statute of limitations(200)(40)(53)
End of year$2,6622,0202,485
v3.25.4
Employee related obligations (Tables)
12 Months Ended
Dec. 28, 2025
Compensation Related Costs [Abstract]  
Employee Related Obligations
At the end of fiscal 2025 and fiscal 2024, employee related obligations recorded on the Consolidated Balance Sheets were:
(Dollars in Millions)20252024
Pension benefits$2,9172,968
Postretirement benefits1,7741,920
Postemployment benefits2,7982,910
Deferred compensation4449
Total employee obligations7,5337,847
Less current benefits payable576592
Employee related obligations — non-current$6,9577,255
v3.25.4
Pensions and other benefit plans (Tables)
12 Months Ended
Dec. 28, 2025
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 2025, 2024 and 2023 include the following components:
Retirement PlansOther Benefit Plans
(Dollars in Millions)202520242023202520242023
Service cost$928948893288277264
Interest cost1,4231,4021,437215209214
Expected return on plan assets(2,392)(2,560)(2,716)(7)(7)(7)
Amortization of prior service cost (184)(184)(184)(2)(2)(2)
Recognized actuarial losses (gains)339174(199)625323
Curtailments and settlements(2)93(5)
Net periodic benefit cost (credit)$114(222)(676)556530487
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 Plans202520242023202520242023
Net Periodic Benefit Cost
Service cost discount rate4.57 %4.39 4.85 5.51 5.09 5.40 
Interest cost discount rate5.33 %4.95 5.25 5.45 5.12 5.43 
Rate of increase in compensation levels3.69 %3.70 3.71 4.22 4.22 4.22 
Expected long-term rate of return on plan assets7.21 %7.25 7.21 
Benefit Obligation
Discount rate5.03 %4.95 4.58 5.31 5.54 5.11 
Rate of increase in compensation levels3.69 %3.70 3.69 4.26 4.22 4.22 
Assumed Health Care Cost Trend Rates
The following table displays the assumed healthcare cost trend rates, for all individuals:
Healthcare Plans20252024
Healthcare cost trend rate assumed for next year13.90 %9.33 %
Rate to which the cost trend rate is assumed to decline (ultimate trend)4.01 %4.02 %
Year the rate reaches the ultimate trend rate2050 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 2025 and 2024 for the Company’s defined benefit retirement plans and other post-retirement plans:
Retirement PlansOther Benefit Plans
(Dollars in Millions)2025202420252024
Change in Benefit Obligation
Projected benefit obligation — beginning of year$30,31731,7444,4254,108
Service cost928948288277
Interest cost1,4231,402215209
Plan participant contributions8275
Actuarial (gains) losses(1)
(245)(1,245)(12)398
Divestitures & acquisitions1
Curtailments, settlements & restructuring(11)(121)
Benefits paid from plan(2)
(1,436)(1,801)(787)(556)
Effect of exchange rates1,185(685)9(11)
Projected benefit obligation — end of year$32,24430,3174,1384,425
Change in Plan Assets
Plan assets at fair value — beginning of year$33,39533,6079386
Actual return (loss) on plan assets3,1332,1131315
Company contributions244229780548
Plan participant contributions8275
Settlements(11)(114)
Benefits paid from plan assets(2)
(1,436)(1,801)(787)(556)
Effect of exchange rates1,251(714)
Plan assets at fair value — end of year$36,65833,3959993
Funded status — end of year$4,4143,078(4,039)(4,332)
Amounts Recognized in the Company’s Balance Sheet consist of the following:
Non-current assets$7,3316,046
Current liabilities(144)(136)(432)(453)
Non-current liabilities(2,773)(2,832)(3,607)(3,879)
Total recognized in the consolidated balance sheet — end of year$4,4143,078(4,039)(4,332)
Amounts Recognized in Accumulated Other Comprehensive Income consist of the following:
Net actuarial loss$2,7273,903609691
Prior service cost (credit)(867)(1,051)(2)(4)
Unrecognized net transition obligation
Total before tax effects$1,8602,852607687
Accumulated Benefit Obligations — end of year$30,99928,883
(1)The actuarial (gains)/losses for retirement plans in 2025 and 2024 were primarily driven by changes in the discount rates.
(2)The fiscal year 2024 includes approximately $400 million transferred to a group annuity contract issued by a third-party insurer for the U.S. Salaried Pension.
Retirement PlansOther Benefit Plans
(Dollars in Millions)2025202420252024
Amounts Recognized in Net Periodic Benefit Cost and Other Comprehensive Income
Net periodic benefit cost (credit)$114 (222)556530
Net actuarial (gain) loss(985)(807)(19)389
Amortization of net actuarial loss(339)(172)(62)(53)
Prior service cost (credit)— 
Amortization of prior service (cost) credit184 18422
Effect of exchange rates148 (79)(1)1
Total loss/(income) recognized in other comprehensive income, before tax$(992)(874)(80)339
Total recognized in net periodic benefit cost and other comprehensive income$(878)(1,096)476869
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, 2025 and December 31, 2024, respectively:
U.S. PlansInternational Plans
Qualified PlansNon-Qualified PlansFunded PlansUnfunded Plans
(Dollars in Millions)20252024202520242025202420252024
Plan Assets$24,05722,25012,60111,145
Projected Benefit Obligation19,11118,1462,0841,99010,91010,069139112
Accumulated Benefit Obligation18,86717,7262,0641,9499,9579,11511193
Over (Under) Funded Status
Projected Benefit Obligation$4,9464,104(2,084)(1,990)1,6911,076(139)(112)
Accumulated Benefit Obligation5,1904,524(2,064)(1,949)2,6442,030(111)(93)
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)202620272028202920302031-2035
Projected future benefit payments
Retirement plans$1,6781,6981,7981,8901,99611,386
Other benefit plans $4444014144274432,425
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)202620272028202920302031-2035
Projected future contributions$142148152156163878
Company' Retirement Plan Asset Allocation and Target Allocations
The Company’s retirement plan asset allocation at the end of 2025 and 2024 and target allocations for 2026 are as follows:
Percent of
Plan Assets
Target
Allocation
Worldwide Retirement Plans202520242026
Equity securities55 %55 %54 %
Debt securities45 45 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, 2025 and December 31, 2024:
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)2025202420252024202520242025202420252024
Short-term investment funds$57 677511734511
Government and agency securities9,1497,8859,1497,885
Debt instruments2,3102,3212,3102,321
Equity securities6,6477,14416,6487,144
Commingled funds6,1055,004376,1056,19012,21011,231
Other assets567881081284,9324,0875,6074,303
Investments at fair value$6,704 7,14418,80815,80910916511,03710,27736,65833,395
(1)The activity for the Level 3 assets is not significant for all years presented.
v3.25.4
Capital and treasury stock (Tables)
12 Months Ended
Dec. 28, 2025
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 1, 2023506,246$41,694
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, 2024712,92175,680
Employee compensation and stock option plans(34,920)(6,009)
Repurchase of common stock33,9035,953
Balance at December 28, 2025711,904$75,624
v3.25.4
Accumulated other comprehensive income (loss) (Tables)
12 Months Ended
Dec. 28, 2025
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income
Components of other comprehensive income (loss) consist of the following:
(Dollars in Millions)Foreign
Currency
Translation
Gain/(loss)
On Securities
Employee
Benefit Plans
Gain/
(Loss) On
Derivatives
& Hedges
Total
Accumulated
Other
Comprehensive
Income (Loss)
January 1, 2023$(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 changes1,708 2449(1,373)786
December 29, 2024(8,441)1(1,551)(1,750)(11,741)
Net 2025 changes(5,506)(1)8581,460(3,189)
December 28, 2025$(13,947)(693)(290)(14,930)
v3.25.4
Earnings per share (Tables)
12 Months Ended
Dec. 28, 2025
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 28, 2025, December 29, 2024 and December 31, 2023:
(In Millions Except Per Share Amounts)202520242023
Basic net earnings per share from continuing operations$11.13 5.845.26
Basic net earnings per share from discontinued operations— — 8.62
Total net earnings per share - basic11.135.8413.88
Average shares outstanding — basic2,407.42,407.32,533.5
Potential shares exercisable under stock option plans124.177.794.1
Less: shares repurchased under treasury stock method(102.1)(55.6)(67.2)
Adjusted average shares outstanding — diluted2,429.42,429.42,560.4
Diluted net earnings per share from continuing operations11.03 5.795.20
Diluted net earnings per share from discontinuing operations— — 8.52
Total net earnings per share - diluted$11.03 5.7913.72
(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
v3.25.4
Common stock, stock option plans and stock compensation agreements (Tables)
12 Months Ended
Dec. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule Valuation Assumptions
The average fair value of options granted was $27.07, $27.67 and $27.85, in fiscal years 2025, 2024 and 2023, respectively. The fair value was estimated based on the weighted average assumptions of:
202520242023
Risk-free rate4.33 %4.15 %3.74 %
Expected volatility17.99 %17.85 %17.69 %
Expected life (in years)7.07.07.0
Expected dividend yield3.30 %3.10 %2.90 %
Summary of Stock Option Activity
A summary of option activity under the Plan as of December 28, 2025, is presented below:
(Shares in Thousands)Outstanding
Shares
Weighted
Average Exercise
Price
Aggregate
Intrinsic
Value
(Dollars in Millions)
Shares at December 29, 2024112,629$144.69$1,129
Options granted12,367156.15
Options exercised(29,742)128.09
Options canceled/forfeited(2,182)160.90
Shares at December 28, 202593,072$151.14$5,257
Summary of Options Outstanding
The following table summarizes stock options outstanding and exercisable at December 28, 2025:
(Shares in Thousands)OutstandingExercisable
Exercise Price RangeOptions
Average Life(1)
Weighted
Average
Exercise Price
OptionsWeighted
Average
Exercise Price
$101.87 - $115.67
7,5700.9$112.457,570$112.45
$129.51 - $131.94
15,5192.7130.8915,518130.89
$141.06 - $156.15
23,1786.7153.8411,307151.41
$157.92 - $162.75
23,3507.6160.2710,318161.13
$164.62 - $165.89
23,4555.6165.2922,799165.27
 93,0725.5$151.1467,512$148.49
(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 28, 2025 is presented below:
(Shares in Thousands)Outstanding
Restricted Share Units
Outstanding
Performance Share Units
Shares at December 29, 202413,0412,013
Granted7,146597
Issued(7,267)(406)
Canceled/forfeited/adjusted(784)(93)
Shares at December 28, 202512,1362,111
v3.25.4
Segments of business and geographic areas (Tables)
12 Months Ended
Dec. 28, 2025
Segment Reporting [Abstract]  
Schedule of Sales by Segment of Business
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
INNOVATIVE MEDICINE
Oncology
U.S.$13,65910,8548,46225.8 %28.3 
International11,7219,9269,19918.1 7.9 
Worldwide25,38020,78117,66122.1 17.7 
CARVYKTI
U.S.1,49286946971.6 85.2 
International3959430**
Worldwide1,88796350095.9 92.7 
DARZALEX
U.S.8,2666,5885,27725.5 24.8 
International6,0855,0824,46719.7 13.8 
Worldwide14,35111,6709,74423.0 19.8 
ERLEADA
U.S.1,4531,2821,06513.4 20.3 
International2,1211,7171,32223.5 29.8 
Worldwide3,5742,9992,38719.2 25.6 
IMBRUVICA
U.S.8921,0201,051(12.5)(3.0)
International1,9312,0182,214(4.3)(8.8)
Worldwide2,8233,0383,264(7.1)(6.9)
RYBREVANT/ LAZCLUZE(1)
U.S.53425766**
International2007027**
Worldwide73432793**
TALVEY(2)
U.S.3402415640.9 *
International123467**
Worldwide4632876361.3 *
TECVAYLI
U.S.4444183346.3 25.3 
International2261316172.8 *
Worldwide67054939522.1 38.8 
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
ZYTIGA /abiraterone acetate
U.S.233450(33.2)(32.2)
International480597837(19.7)(28.6)
Worldwide502631887(20.4)(28.8)
OTHER ONCOLOGY
U.S.2141459347.5 55.9 
International162172235(6.0)(26.8)
Worldwide37631732818.5 (3.4)
Immunology
U.S.9,87211,35511,539(13.1)(1.6)
International5,8566,4736,513(9.5)(0.6)
Worldwide15,72817,82818,052(11.8)(1.2)
REMICADE
U.S.1,1711,0091,14316.0 (11.7)
U.S. Exports7498147(24.8)(33.0)
International5234975495.3 (9.5)
Worldwide1,7681,6051,83910.2 (12.8)
SIMPONI / SIMPONI ARIA
U.S.1,1931,0821,12410.3 (3.8)
International1,4751,1081,07333.1 3.3 
Worldwide2,6682,1902,19721.8 (0.3)
STELARA
U.S.3,8476,7206,966(42.7)(3.5)
International2,2303,6413,892(38.7)(6.4)
Worldwide6,07810,36110,858(41.3)(4.6)
TREMFYA
U.S.3,5292,4432,14744.5 13.7 
International1,6261,22799932.5 22.8 
Worldwide5,1553,6703,14740.5 16.6 
OTHER IMMUNOLOGY
U.S.59311*(74.1)
International200*
Worldwide61311*(74.1)
Neuroscience
U.S.5,1514,3984,06517.1 8.2 
International2,6862,7183,076(1.2)(11.6)
Worldwide7,8377,1157,14010.1 (0.4)
CAPLYTA(3)
U.S.700*
International— 
Worldwide700*
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
CONCERTA / methylphenidate
U.S.82134230(38.6)(41.7)
International502507554(1.2)(8.4)
Worldwide584641783(9.0)(18.1)
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
U.S.2,7253,1252,897(12.8)7.9 
International1,0851,0971,218(1.1)(9.9)
Worldwide3,8104,2224,115(9.8)2.6 
SPRAVATO
U.S.1,48592958959.9 57.8 
International21014810041.9 48.2 
Worldwide1,6961,07768957.4 56.4 
OTHER NEUROSCIENCE
U.S.159210349(24.5)(39.8)
International8899651,204(7.9)(19.8)
Worldwide1,0481,1751,553(10.9)(24.3)
Pulmonary Hypertension
U.S.3,2233,1432,6972.6 16.5 
International1,2141,1401,1176.5 2.0 
Worldwide4,4374,2823,8153.6 12.3 
OPSUMIT/OPSYNVI(4)
U.S.1,6331,5571,2924.8 20.5 
International6926686813.7 (1.9)
Worldwide2,3252,2251,9734.5 12.8 
UPTRAVI
U.S.1,5361,5111,3261.7 13.9 
International36630725519.4 20.1 
Worldwide1,9021,8171,5824.7 14.9 
OTHER PULMONARY HYPERTENSION
U.S.547579(27.0)(5.1)
International155165182(6.2)(9.3)
Worldwide209240260(12.7)(7.7)
Infectious Diseases
U.S.1,2641,3541,500(6.6)(9.8)
International1,9772,0422,918(3.2)(30.0)
Worldwide3,2413,3964,418(4.6)(23.1)
EDURANT / rilpivirine
U.S.263135(18.4)(10.0)
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
International1,4611,2411,11517.7 11.2 
Worldwide1,4861,2721,15016.9 10.6 
PREZISTA / PREZCOBIX /
REZOLSTA / SYMTUZA
U.S.1,2261,3111,446(6.5)(9.4)
International353401408(11.9)(1.7)
Worldwide1,5791,7121,854(7.7)(7.7)
OTHER INFECTIOUS DISEASES(5)
U.S.1211196.6 (41.0)
International1634011,395(59.3)*
Worldwide1754121,414(57.5)*
Cardiovascular / Metabolism / Other
U.S.3,1752,8662,90610.8 (1.4)
International603696765(13.3)(9.1)
Worldwide3,7783,5623,6716.1 (3.0)
XARELTO
U.S.2,6332,3732,36511.0 0.3 
International— — 
Worldwide2,6332,3732,36511.0 0.3 
OTHER
U.S.5424945419.8 (8.8)
International603696765(13.3)(9.1)
Worldwide1,1451,1891,306(3.7)(8.9)
TOTAL INNOVATIVE MEDICINE
U.S.36,34433,97031,1697.0 9.0 
International24,05722,99423,5904.6 (2.5)
Worldwide60,40156,96454,7596.0 4.0 
MEDTECH
Cardiovascular
U.S.5,3054,5133,63317.5 24.2 
International3,6233,1942,71713.4 17.6 
Worldwide8,9287,7076,35015.8 21.4 
ELECTROPHYSIOLOGY
U.S.2,8912,7382,4585.6 11.4 
International2,7432,5292,2308.5 13.4 
Worldwide5,6345,2674,6887.0 12.3 
ABIOMED
U.S.1,3931,2131,06614.9 13.7 
International35828424026.4 18.2 
Worldwide1,7511,4961,30617.1 14.5 
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
SHOCKWAVE(6)
U.S.897442**
International249122**
Worldwide1,146564**
OTHER CARDIOVASCULAR
U.S.1241201093.1 10.7 
International2732602474.9 5.3 
Worldwide3973803564.3 6.9 
Orthopaedics
U.S.5,7205,6895,5250.5 3.0 
International3,5383,4703,4172.0 1.5 
Worldwide9,2589,1588,9421.1 2.4 
HIPS
U.S.1,0801,0579962.1 6.2 
International5945815642.2 3.0 
Worldwide1,6741,6381,5602.1 5.0 
KNEES
U.S.9249228960.2 2.9 
International6636235596.5 11.3 
Worldwide1,5871,5451,4562.7 6.1 
TRAUMA
U.S.2,0582,0131,9492.2 3.3 
International1,0881,0361,0305.0 0.6 
Worldwide3,1463,0492,9793.2 2.3 
SPINE, SPORTS & OTHER
U.S.1,6581,6961,684(2.2)0.7 
International1,1931,2301,263(3.0)(2.6)
Worldwide2,8522,9262,947(2.5)(0.7)
Surgery
U.S.4,1574,0034,0313.9 (0.7)
International5,9805,8426,0062.4 (2.7)
Worldwide10,1379,84510,0373.0 (1.9)
ADVANCED
U.S.1,9001,8381,8333.4 0.2 
International2,6782,6502,8371.0 (6.6)
Worldwide4,5774,4884,6712.0 (3.9)
GENERAL
U.S.2,2582,1652,1984.3 (1.5)
International3,3023,1923,1683.4 0.8 
Worldwide5,5605,3585,3663.8 (0.2)
 Sales to Customers % Change
(Dollars in Millions)202520242023’25 vs. ’24’24 vs. ’23
Vision
U.S.2,2252,1282,0864.6 2.0 
International3,2433,0182,9867.4 1.1 
Worldwide5,4685,1465,0726.3 1.5 
CONTACT LENSES / OTHER
U.S.1,7541,6841,6264.1 3.6 
International2,1572,0492,0765.3 (1.3)
Worldwide3,9103,7333,7024.8 0.8 
SURGICAL
U.S.4714444606.1 (3.4)
International1,08696991012.1 6.5 
Worldwide1,5581,4131,37010.2 3.2 
TOTAL MEDTECH   
U.S.17,40816,33215,2756.6 6.9 
International16,38415,52515,1255.5 2.6 
Worldwide33,79231,85730,4006.1 4.8 
WORLDWIDE   
U.S.53,75250,30246,4446.9 8.3 
International40,44138,51938,7155.0 (0.5)
Worldwide$94,19388,82185,1596.0 %4.3 
*    percentage greater than 100% or not meaningful
(1)Previously in Other Oncology, Includes the sales of RYBREVANT and RYBREVANT + LAZCLUZE
(2)Previously in Other Oncology
(3)Acquired with the Intra-Cellular Therapies acquisition on April 2, 2025
(4)In 2024 OPSYNVI was in Other Pulmonary Hypertension
(5)Includes the Covid-19 Vaccine in 2024 and 2023
(6)Acquired on May 31, 2024
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Income Before Tax by Segment
(Dollars in Millions)
2025 (3)
2024 (4)
2023 (5)
Innovative
Medicine
MedTechTotalInnovative
Medicine
MedTechTotalInnovative
Medicine
MedTechTotal
Sales to customers$60,40133,79256,96431,85754,75930,400
Cost of products sold15,64614,54914,03613,34513,71512,722
Selling, marketing and administrative 11,37511,35410,90610,8129,84210,476
Research and development expense11,8272,83813,5293,70311,9633,122
Other segment items(1)
(713)938(426)257993(589)
Segment income before tax$22,2664,11326,37918,9193,74022,65918,2464,66922,915
(Income) Expense not allocated to segments(2)
(6,202)5,9727,853
Worldwide total$32,58116,68715,062
Schedule of Segment Reporting Information
 Identifiable Assets
(Dollars in Millions)20252024
Innovative Medicine$78,05757,070
MedTech86,48284,322
Total164,539141,392
General corporate(6)
34,67138,712
Worldwide total$199,210180,104
Additions to Property,
Plant & Equipment
Depreciation and
Amortization
(Dollars in Millions)202520242023202520242023
Innovative Medicine$2,0761,7101,653$3,7723,7603,847
MedTech2,5012,4432,3723,4903,2372,943
Segments total4,5774,1534,0257,2626,9976,790
Discontinued operations162383
General corporate255271356241342313
Worldwide total$4,8324,4244,543$7,5037,3397,486
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
 Sales to Customers
Long-Lived Assets (7)
(Dollars in Millions)20252024202320252024
United States$53,75250,30246,444$89,39270,670
Europe21,53520,21220,41027,98727,267
Western Hemisphere excluding U.S. 4,8754,7144,5492,2041,728
Asia-Pacific, Africa14,03113,59313,7561,5441,454
Segments total94,19388,82185,159121,127101,119
General corporate1,2171,217
Other non long-lived assets76,86677,768
Worldwide total$94,19388,82185,159$199,210180,104
See Note 1 for a description of the segments in which the Company operates.
Export sales are not significant. In fiscal year 2025, the Company utilized three wholesalers distributing products for both segments that represented approximately 21.8%, 15.5% and 11.1% of the total gross revenues. In fiscal year 2024, the Company had 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.
(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 year 2025 includes the reversal of approximately $7.0 billion, a significant portion of the previously accrued talc reserve. The fiscal years 2024 and 2023 include charges for talc matters of approximately $5.1 billion and $7.0 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:
Acquisition, integration and divestiture related net expense of $0.4 billion primarily related to the Intra-Cellular and Halda acquisitions
MedTech segment income before tax includes:
Litigation expense of $0.9 billion primarily related to the Auris shareholder litigation
Acquisition, integration and divestiture related net income of $0.2 billion, primarily driven by a contingent value right liability reduction associated with Abiomed
A restructuring related charge of $0.5 billion
A gain on the sale of securities of $0.2 billion
(4)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
(5)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
(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 2025, and 2024 of $23,169 and $20,518, respectively, and intangible assets and goodwill, net for fiscal years 2025 and 2024 of $99,175 and $81,818, respectively.
v3.25.4
Acquisitions and divestitures (Tables)
12 Months Ended
Dec. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date and is based on the best estimate of management, which is subject to change within the measurement period. As of the fiscal year ended December 28, 2025, there have been no material measurement period adjustments.
(Dollars in Billions)April 2, 2025
Assets acquired:
Cash and cash equivalents$0.2
Marketable securities0.6
Other current & non-current assets
0.3
Amortizable intangible asset(1)
5.2
Acquired in-process research and development(1)
8.3
Goodwill(2)
2.9
Total assets acquired$17.5
Liabilities assumed:
Deferred taxes$2.8
Other current & non-current liabilities0.2
Total liabilities assumed$3.0
Total assets acquired and liabilities assumed$14.5
(1)The estimated fair values of the intangible assets acquired were determined using the multi-period excess earnings method. The amortizable intangible asset relates to the currently marketed product, CAPLYTA, which has an estimated useful life of 8 years. The acquired in-process research and development includes two assets, one related to certain unapproved indications of lumateperone and another related to a compound being studied to treat psychosis and agitation in patients with Alzheimer’s disease and generalized anxiety disorder. The fair value of the in-process research and development assets were calculated assuming a discount rate of 11.5% and 12.5%, respectively. Additionally, the cash flow projections assumed a probability of success factor of 95% and approximately 34%-50% (depending on indication being studied), respectively.
(2)Goodwill is primarily attributable to intangible assets that did not qualify for separate recognition and future projects or products currently unidentified. Goodwill is not expected to be deductible for tax purposes.
v3.25.4
Legal proceedings (Tables)
12 Months Ended
Dec. 28, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary Of Claims In Pending Lawsuits
The table below contains the most significant of these cases and provides the approximate number of plaintiffs in the United States with direct claims in pending lawsuits regarding injuries allegedly due to the relevant product or product category as of December 28, 2025.
Product or product categoryNumber of plaintiffs
Body powders containing talc, primarily JOHNSON’S Baby Powder74,360
DePuy ASR XL Acetabular System and DePuy ASR Hip Resurfacing System30
PINNACLE Acetabular Cup System680
Pelvic meshes5,190
ETHICON PHYSIOMESH Flexible Composite Mesh110
ELMIRON790
v3.25.4
Restructuring (Tables)
12 Months Ended
Dec. 28, 2025
Restructuring and Related Activities [Abstract]  
Summary of Severance Charges and Associated Spending
The following table summarizes the restructuring expenses for the fiscal years 2025, 2024 and 2023:
(Pre-tax Dollars in Millions)202520242023
MedTech Segment Surgery franchise(1)
$205
MedTech Segment Orthopaedics franchise(2)
307167319
Innovative Medicine Segment(3)
102479
Total Programs$512269798
(1)The fiscal year of 2025 included $76 million in restructuring, $122 million in Other income and expense and $7 million in Cost of products sold on the Consolidated Statement of Earnings
(2)The fiscal year of 2025 included $152 million in restructuring, $71 million in Other income and expense and $84 million in Cost of products sold on the Consolidated Statement of Earning 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. This program was substantially completed in the fiscal year 2025.
(3)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. This program was completed in the fiscal fourth quarter of 2024.
v3.25.4
Kenvue separation and discontinued operations (Tables)
12 Months Ended
Dec. 28, 2025
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)
Sales to customers$10,036
Cost of products sold4,369
Gross profit5,667
Selling, marketing and administrative expenses3,085
Research and development expense258
Interest Income(117)
Interest expense, net of portion capitalized199
Other (income) expense, net1,092
(Gain) on separation of Kenvue(20,984)
Earnings from Discontinued Operations Before Provision for Taxes on Income22,134
Provision for taxes on income307
Net earnings from Discontinued Operations$21,827
(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)
Depreciation and Amortization$383
Capital expenditures$162
v3.25.4
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. 28, 2025
USD ($)
Segment
Employee
$ / shares
Dec. 29, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
Jan. 02, 2022
Jan. 03, 2021
Jul. 02, 2023
USD ($)
Concentration of Credit Risk [Line Items]                
Number of employees | Employee     138,200          
Common Stock, Par or Stated Value Per Share | $ / shares     $ 1.00 $ 1.00        
Proceeds from Kenvue initial public offering     $ 0 $ 0 $ 4,241      
Realized gain (loss) on investment   $ 2,500            
Number of business segments | Segment     2          
Supplier finance program, obligation, current     $ 784 $ 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     $ 19,124 $ 17,580        
Sales return reserve (as a percent)     1.00% 1.00% 1.00%      
Percentage of profit share payments (less than)     2.00% 2.00%        
Cost of products sold     $ 30,256 $ 27,471 $ 26,553      
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, Statement of Financial Position [Extensible Enumeration]     Accrued Liabilities, Current, Other Liabilities, Noncurrent Accrued Liabilities, Current, Other Liabilities, Noncurrent        
Operating lease, right-of-use asset     $ 1,300 $ 1,100        
Operating lease liabilities     1,400 1,200        
Operating lease costs     200 200 $ 200      
Cash paid for operating leases     300 200 200      
Advertising expense     $ 1,600 $ 600 $ 500      
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     600          
Selling, marketing and administrative expenses     $ 23,676 $ 22,869 $ 21,512      
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 $ 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          
Adjustment to revenue recognized     3.00%          
Minimum | Software Development                
Concentration of Credit Risk [Line Items]                
Estimated useful lives of the assets     5 years          
Maximum                
Concentration of Credit Risk [Line Items]                
Revenue, performance obligation, payment terms     90 days          
Adjustment to revenue recognized     2.00%          
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 $ 900      
Pharmaceutical                
Concentration of Credit Risk [Line Items]                
Accrued rebates, returns and promotions     $ 13,000 $ 12,300        
v3.25.4
Summary of significant accounting policies - Estimated Useful Lives of Assets (Details)
Dec. 28, 2025
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
v3.25.4
Summary of significant accounting policies - Supplier Finance Program (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Supplier Finance Program, Obligation [Roll Forward]    
Confirmed obligations - beginning of the year $ 788 $ 704
Invoices confirmed during the year 2,997 3,048
Confirmed invoices paid during the year 3,016 2,964
Effect of exchange rates 15 0
Confirmed obligations - end of the year $ 784 $ 788
v3.25.4
Cash, cash equivalents and current marketable securities - Cash and Cash Equivalent Composition (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Cash & Cash Equivalents $ 19,709 $ 24,105
Fair value, available-for-sale 2,854 7,216
Current Marketable Securities 393 417
Held-to-maturity Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 17,248 17,306
Fair value, held-to-maturity 17,248 17,306
Cash & Cash Equivalents 17,248 17,186
Current Marketable Securities 0 120
Held-to-maturity Securities | Cash    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 3,299 2,918
Fair value, held-to-maturity 3,299 2,918
Cash & Cash Equivalents 3,299 2,918
Current Marketable Securities 0 0
Held-to-maturity Securities | Securities Loaned or Sold under Agreements to Repurchase    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 7,063 7,100
Fair value, held-to-maturity 7,063 7,100
Cash & Cash Equivalents 7,063 7,100
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
Fair value, held-to-maturity   120
Cash & Cash Equivalents   0
Current Marketable Securities   120
Held-to-maturity Securities | Money market funds    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 5,993 6,123
Fair value, held-to-maturity 5,993 6,123
Cash & Cash Equivalents 5,993 6,123
Current Marketable Securities 0 0
Held-to-maturity Securities | Time deposits    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, held-to-maturity 893 1,045
Fair value, held-to-maturity 893 1,045
Cash & Cash Equivalents 893 1,045
Current Marketable Securities 0 0
Available-for-sale Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Cash & Cash Equivalents 2,461 6,919
Carrying Amount, available-for-sale 2,854 7,215
Available-for-sale, unrealized gain   1
Fair value, available-for-sale 2,854 7,216
Current Marketable Securities 393 297
Available-for-sale Securities | Securities Loaned or Sold under Agreements to Repurchase    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Carrying Amount, available-for-sale   176
Fair value, available-for-sale   176
Available-for-sale Securities | Non-U.S. Sovereign Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Cash & Cash Equivalents 102 83
Carrying Amount, available-for-sale 260  
Fair value, available-for-sale 260  
Current Marketable Securities 158 93
Available-for-sale Securities | U.S. Gov't Securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Cash & Cash Equivalents 2,324 6,796
Carrying Amount, available-for-sale 2,365 6,815
Available-for-sale, unrealized gain   1
Fair value, available-for-sale 2,365 6,816
Current Marketable Securities 41 20
Available-for-sale Securities | Corporate debt securities    
Cash, Cash Equivalents, and Short-term Investments [Abstract]    
Cash & Cash Equivalents 35 40
Carrying Amount, available-for-sale 229 224
Fair value, available-for-sale 229 224
Current Marketable Securities $ 194 $ 184
v3.25.4
Cash, cash equivalents and current marketable securities - Contractual Maturities of Available for Sale Securities (Details)
$ in Millions
Dec. 28, 2025
USD ($)
Cost Basis  
Due within one year $ 2,829
Due after one year through five years 25
Due after five years through ten years 0
Total debt securities 2,854
Fair Value  
Due within one year 2,829
Due after one year through five years 25
Due after five years through ten years 0
Total debt securities $ 2,854
v3.25.4
Inventories (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Summary of Inventories    
Raw materials and supplies $ 2,530 $ 2,337
Goods in process 3,828 2,815
Finished goods 7,833 7,292
Total inventories $ 14,191 $ 12,444
v3.25.4
Property, plant and equipment - Property, Plant and Equipment at Cost and Accumulated Depreciation (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross $ 54,364 $ 48,768
Less accumulated depreciation 31,195 28,250
Total property, plant and equipment, net 23,169 20,518
Land and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross 701 718
Building and building equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross 13,429 12,317
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross 32,873 29,444
Construction in progress    
Property, Plant and Equipment [Line Items]    
Total property, plant and equipment, gross $ 7,361 $ 6,289
v3.25.4
Property, plant and equipment - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Interest expense capitalized $ 114 $ 79 $ 70
Depreciation expense, including the amortization of capitalized interest $ 2,900 $ 2,800 $ 2,600
v3.25.4
Intangible assets and goodwil - Schedule of Intangible Assets and Goodwill (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Intangible assets with indefinite lives:    
Indefinite lived intangible assets $ 17,391 $ 12,281
Total intangible assets - net 50,403 37,618
DePuy Synthes | MedTech    
Intangible assets with indefinite lives:    
Indefinite-lived trademarks 1,700  
Trademarks    
Intangible assets with indefinite lives:    
Indefinite lived intangible assets 1,772 0
Purchased in-process research and development    
Intangible assets with indefinite lives:    
Indefinite lived intangible assets 15,619 12,281
Patents And Trademarks    
Intangible assets with definite lives:    
Finite lived intangible assets gross 59,156 44,695
Less accumulated amortization (32,507) (26,124)
Finite lived intangible assets net $ 26,649 18,571
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 $ 21,361 20,310
Less accumulated amortization (14,998) (13,544)
Finite lived intangible assets net $ 6,363 $ 6,766
Intangible assets with indefinite lives:    
Intangible assets useful life 19 years  
v3.25.4
Intangible assets and goodwill - Goodwill (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Goodwill [Roll Forward]    
Goodwill beginning of period $ 44,200 $ 36,558
Goodwill, related to acquisitions 3,488 8,209
Goodwill, related to divestitures (29) (56)
Currency translation/other 1,113 (511)
Goodwill end of period 48,772 44,200
Innovative Medicine    
Goodwill [Roll Forward]    
Goodwill beginning of period 10,692 10,407
Goodwill, related to acquisitions 3,488 640
Goodwill, related to divestitures 0 0
Currency translation/other 787 (355)
Goodwill end of period 14,967 10,692
MedTech    
Goodwill [Roll Forward]    
Goodwill beginning of period 33,508 26,151
Goodwill, related to acquisitions 0 7,569
Goodwill, related to divestitures (29) (56)
Currency translation/other 326 (156)
Goodwill end of period $ 33,805 $ 33,508
v3.25.4
Intangible assets and goodwill - Narrative (Details) - USD ($)
$ in Billions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Amortization expense of amortizable intangible assets $ 4.6 $ 4.5 $ 4.5
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 19 years    
v3.25.4
Intangible assets and goodwill - Estimated Amortization of Intangible Assets (Details)
$ in Millions
Dec. 28, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 5,100
2027 4,400
2028 3,700
2029 3,600
2030 $ 3,500
v3.25.4
Fair value measurements - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
May 17, 2024
May 15, 2024
Dec. 28, 2025
Dec. 29, 2024
Derivative [Line Items]        
Deferred net losses (gains) on derivatives included in accumulated other comprehensive income     $ 300  
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     $ 4,600 $ 2,200
Derivative, notional amount     40,600 45,100
Cross currency interest rate swaps        
Derivative [Line Items]        
Derivative, notional amount     38,900 40,500
Interest Rate Swap        
Derivative [Line Items]        
Derivative, notional amount     8,000 9,000
Equity securities | Equity Investments without readily determinable value        
Derivative [Line Items]        
Equity, fair value adjustment, impairment loss     (115) (171)
Equity, fair value adjustment, change in observable prices     $ 368 $ (26)
v3.25.4
Fair value measurements - Summary of Derivative Activity (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain or (loss) reclassified from AOCI into income $ 493 $ 862 $ 569
Amount of gain or (loss) recognized in AOCI 1,953 (511) $ 422
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 4 2  
Amount of gain or (loss) recognized in AOCI 11 (7)  
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 41 426  
Amount of gain or (loss) recognized in AOCI 715 (156)  
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 (52) 33  
Amount of gain or (loss) recognized in AOCI (109) 80  
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 338 64  
Amount of gain or (loss) recognized in AOCI (338) (64)  
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 193 148  
Amount of gain or (loss) recognized in AOCI 193 148  
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 326 247  
Amount of gain or (loss) recognized in AOCI 1,187 (597)  
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 (19) 6  
Amount of gain or (loss) recognized in AOCI $ (44) $ 21  
v3.25.4
Fair value measurements - Schedule of Derivatives Recorded in Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Carrying Amount of the Hedged Liability $ 6,307 $ 4,564
Long-term Debt | Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Carrying Amount of the Hedged Liability 8,318 7,935
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability $ (694) $ (1,132)
v3.25.4
Fair value measurements - Schedule of Effect of Derivatives not Designated as Hedging Instruments (Details) - Forward foreign exchange contracts: - Not Designated as Hedging Instrument - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Gain/(Loss) Recognized In Income on Derivative $ (265) $ 8
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other (income) expense, net Other (income) expense, net
v3.25.4
Fair value measurements - Schedule of Effect of Net Investment Hedges (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 28, 2025
Dec. 29, 2024
Derivative Instruments, Gain (Loss) [Line Items]        
Gain/(Loss) Recognized In Accumulated OCI     $ (1,190) $ 282
Cross currency interest rate swaps contracts:        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain/(Loss) Recognized In Accumulated OCI     $ 277 $ 955
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    
v3.25.4
Fair value measurements - Summary of Activity Related to Equity Investments (Details) - USD ($)
$ in Millions
12 Months Ended
Aug. 23, 2023
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Equity Investment [Roll Forward]        
Other assets, noncurrent   $ 14,368 $ 11,414  
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   665 451 4,473
Equity, fair value adjustment   230 (17)  
Equity investments, increase (decrease) from acquisition (sale) during period   (16) (4,005)  
Other assets, noncurrent   665 451  
Equity securities | Equity Investments without readily determinable value        
Equity Investment [Roll Forward]        
Equity securities without readily determinable fair value, amount   910 773 $ 696
Equity, fair value adjustment   253 (197)  
Equity investments, increase (decrease) from acquisition (sale) during period   (116) 274  
Other assets, noncurrent   $ 910 $ 773  
v3.25.4
Fair value measurements - Financial Assets and Liabilities at Fair Value (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Jun. 20, 2024
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets $ 1,275      
Derivatives designated as hedging instruments : Liabilities 6,261      
Equity investments 665 $ 451    
Debt securities 2,854 7,216    
Contingent Consideration 753 1,217    
Total Gross Assets 1,313 2,194    
Credit Support Agreements (CSA) $ (1,308) $ (2,172)    
Derivative Asset, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag Total Net Asset Total Net Asset    
Total Net Asset $ 5 $ 22    
Total Gross Liabilities 6,307 4,564    
Credit Support Agreements (CSA) $ (5,903) $ (4,412)    
Derivative Liability, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag Total Net Liabilities Total Net Liabilities    
Total Net Liabilities $ 404 $ 152    
Beginning Balance 1,217 1,092 $ 1,120  
Changes in estimated fair value (387) 88 29  
Additions 0 112 0  
Payments/Other (77) (75) (57)  
Ending Balance 753 1,217 1,092  
Cash & Cash Equivalents 19,709 24,105    
Other Noncurrent Liabilities        
Financial assets and liabilities at fair value        
Beginning Balance 1,217 1,092    
Ending Balance 753 1,217 $ 1,092  
Abiomed        
Financial assets and liabilities at fair value        
Contingent Consideration 400      
Contingent consideration reversal 364      
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 665 451    
Debt securities 0      
Level 1 | Money market funds        
Financial assets and liabilities at fair value        
Cash & Cash Equivalents 5,993 6,123    
Level 2        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 1,275 2,144    
Derivatives designated as hedging instruments : Liabilities 6,261 4,547    
Equity investments 0      
Debt securities 2,854      
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 753 1,217    
Foreign exchange contracts        
Financial assets and liabilities at fair value        
Derivatives designated as hedging instruments : Assets 686      
Derivatives designated as hedging instruments : Liabilities 413      
Derivatives not designated as hedging instruments : Assets 38      
Derivatives not designated as hedging instruments : Liabilities 46      
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 686 660    
Derivatives designated as hedging instruments : Liabilities 413 794    
Derivatives not designated as hedging instruments : Assets 38 50    
Derivatives not designated as hedging instruments : Liabilities 46 17    
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 589      
Derivatives designated as hedging instruments : Liabilities 5,848      
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 589 1,484    
Derivatives designated as hedging instruments : Liabilities 5,848 $ 3,753    
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      
v3.25.4
Borrowings - Schedule of Long-term Debt Instruments (Details)
€ in Millions, $ in Millions
12 Months Ended
Dec. 28, 2025
USD ($)
Dec. 29, 2024
USD ($)
Dec. 28, 2025
EUR (€)
Jun. 29, 2025
USD ($)
Dec. 29, 2024
EUR (€)
Debt Instrument [Line Items]          
Long-term debt $ 41,438 $ 32,400      
Less current portion 2,000 1,749      
Total long-term debt 39,438 30,651      
Excess of carrying value over fair value of debt 1,700 2,000      
Unsecured Debt          
Debt Instrument [Line Items]          
Debt instrument, face amount       $ 9,200  
2.625% Notes due 2025          
Debt Instrument [Line Items]          
Long-term debt $ 0 750      
Stated interest rate (as a percent) 2.625%   2.625%    
0.55% Notes due 2025          
Debt Instrument [Line Items]          
Long-term debt $ 0 999      
Stated interest rate (as a percent) 0.55%   0.55%    
2.45% Notes due 2026          
Debt Instrument [Line Items]          
Long-term debt $ 2,000 1,999      
Stated interest rate (as a percent) 2.45%   2.45%    
2.95% Notes due 2027          
Debt Instrument [Line Items]          
Long-term debt $ 968 927      
Stated interest rate (as a percent) 2.95%   2.95%    
0.95% Notes due 2027          
Debt Instrument [Line Items]          
Long-term debt $ 1,499 1,458      
Stated interest rate (as a percent) 0.95%   0.95%    
1.150% Notes due 2028 (750MM Euro 1.1785)(1)/(750MM Euro 1.0401)(2)          
Debt Instrument [Line Items]          
Long-term debt $ 882 $ 777      
Stated interest rate (as a percent) 1.15%   1.15%    
Debt instrument, face amount | €     € 750   € 750
Foreign currency exchange rate, translation 1.1785 1.0401 1.1785   1.0401
2.90% Notes due 2028          
Debt Instrument [Line Items]          
Long-term debt $ 1,498 $ 1,498      
Stated interest rate (as a percent) 2.90%   2.90%    
6.95% Notes due 2029          
Debt Instrument [Line Items]          
Long-term debt $ 299 298      
Stated interest rate (as a percent) 6.95%   6.95%    
4.80% Notes due 2029          
Debt Instrument [Line Items]          
Long-term debt $ 1,147 1,146      
Stated interest rate (as a percent) 4.80%   4.80%    
1.30% Notes due 2030          
Debt Instrument [Line Items]          
Long-term debt $ 1,693 1,646      
Stated interest rate (as a percent) 1.30%   1.30%    
4.90% Notes due 2031          
Debt Instrument [Line Items]          
Long-term debt $ 1,146 1,145      
Stated interest rate (as a percent) 4.90%   4.90%    
3.20% Notes due 2032          
Debt Instrument [Line Items]          
Long-term debt $ 822 $ 725      
Stated interest rate (as a percent) 3.20%   3.20%    
Debt instrument, face amount | €     € 700   € 700
Foreign currency exchange rate, translation 1.1785 1.0401 1.1785   1.0401
4.95% Notes due 2033          
Debt Instrument [Line Items]          
Long-term debt $ 499 $ 499      
Stated interest rate (as a percent) 4.95%   4.95%    
4.375% Notes due 2033          
Debt Instrument [Line Items]          
Long-term debt $ 853 854      
Stated interest rate (as a percent) 4.375%   4.375%    
4.95% Notes due 2034          
Debt Instrument [Line Items]          
Long-term debt $ 847 846      
Stated interest rate (as a percent) 4.95%   4.95%    
1.650% Notes due 2035 (1.5B Euro 1.1785)(1)/(1.5B Euro 1.0401)(2)          
Debt Instrument [Line Items]          
Long-term debt $ 1,758 $ 1,550      
Stated interest rate (as a percent) 1.65%   1.65%    
Debt instrument, face amount | €     € 1,500   € 1,500
Foreign currency exchange rate, translation 1.1785 1.0401 1.1785   1.0401
3.35% Notes due 2036          
Debt Instrument [Line Items]          
Long-term debt $ 938 $ 827      
Stated interest rate (as a percent) 3.35%   3.35%    
Debt instrument, face amount | €     € 800   € 800
Foreign currency exchange rate, translation 1.1785 1.0401 1.1785   1.0401
3.587% Notes due 2036          
Debt Instrument [Line Items]          
Long-term debt $ 919 $ 869      
Stated interest rate (as a percent) 3.587%   3.587%    
5.95% Notes due 2037          
Debt Instrument [Line Items]          
Long-term debt $ 995 994      
Stated interest rate (as a percent) 5.95%   5.95%    
3.625% Notes due 2037          
Debt Instrument [Line Items]          
Long-term debt $ 1,409 1,358      
Stated interest rate (as a percent) 3.625%   3.625%    
5.85% Notes due 2038          
Debt Instrument [Line Items]          
Long-term debt $ 697 697      
Stated interest rate (as a percent) 5.85%   5.85%    
3.40% Notes due 2038          
Debt Instrument [Line Items]          
Long-term debt $ 994 993      
Stated interest rate (as a percent) 3.40%   3.40%    
4.50% Notes due 2040          
Debt Instrument [Line Items]          
Long-term debt $ 542 541      
Stated interest rate (as a percent) 4.50%   4.50%    
2.10% Notes due 2040          
Debt Instrument [Line Items]          
Long-term debt $ 898 845      
Stated interest rate (as a percent) 2.10%   2.10%    
4.85% Notes due 2041          
Debt Instrument [Line Items]          
Long-term debt $ 298 297      
Stated interest rate (as a percent) 4.85%   4.85%    
4.50% Notes due 2043          
Debt Instrument [Line Items]          
Long-term debt $ 497 496      
Stated interest rate (as a percent) 4.50%   4.50%    
3.55% Notes due 2044          
Debt Instrument [Line Items]          
Long-term debt $ 1,168 $ 1,030      
Stated interest rate (as a percent) 3.55%   3.55%    
Debt instrument, face amount | €     € 1,000   € 1,000
Foreign currency exchange rate, translation 1.1785 1.0401 1.1785   1.0401
3.73% Notes due 2046          
Debt Instrument [Line Items]          
Long-term debt $ 1,979 $ 1,978      
Stated interest rate (as a percent) 3.73%   3.73%    
3.75% Notes due 2047          
Debt Instrument [Line Items]          
Long-term debt $ 876 822      
Stated interest rate (as a percent) 3.75%   3.75%    
3.50% Notes due 2048          
Debt Instrument [Line Items]          
Long-term debt $ 744 744      
Stated interest rate (as a percent) 3.50%   3.50%    
2.25% Notes due 2050          
Debt Instrument [Line Items]          
Long-term debt $ 861 808      
Stated interest rate (as a percent) 2.25%   2.25%    
5.25% Notes due 2054          
Debt Instrument [Line Items]          
Long-term debt $ 843 843      
Stated interest rate (as a percent) 5.25%   5.25%    
2.45% Notes due 2060          
Debt Instrument [Line Items]          
Long-term debt $ 1,112 1,058      
Stated interest rate (as a percent) 2.45%   2.45%    
Other          
Debt Instrument [Line Items]          
Long-term debt $ 79 83      
4.50% Notes due 2027          
Debt Instrument [Line Items]          
Long-term debt $ 749 0      
Stated interest rate (as a percent) 4.50%   4.50%    
4.55% Notes Due 2028          
Debt Instrument [Line Items]          
Long-term debt $ 748 0      
Stated interest rate (as a percent) 4.55%   4.55%    
2.700% Notes Due 2029          
Debt Instrument [Line Items]          
Long-term debt $ 707 0      
Stated interest rate (as a percent) 2.70%   2.70%    
Debt instrument, face amount | €     € 600    
Foreign currency exchange rate, translation 1.1785   1.1785    
4.70% Notes due 2030          
Debt Instrument [Line Items]          
Long-term debt $ 996 0      
Stated interest rate (as a percent) 4.70%   4.70%    
4.85% Notes due 2032          
Debt Instrument [Line Items]          
Long-term debt $ 1,243 0      
Stated interest rate (as a percent) 4.85%   4.85%    
3.050% Notes Due 2033          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 3.05%   3.05%    
3.05% Notes due 2033          
Debt Instrument [Line Items]          
Long-term debt $ 823 0      
Debt instrument, face amount | €     € 700,000    
Foreign currency exchange rate, translation 1.1785   1.1785    
5.00% Notes Due 2035          
Debt Instrument [Line Items]          
Long-term debt $ 1,244 0      
Stated interest rate (as a percent) 5.00%   5.00%    
3.35% Notes due 2037          
Debt Instrument [Line Items]          
Long-term debt $ 1,176 0      
Stated interest rate (as a percent) 3.35%   3.35%    
Debt instrument, face amount $ 1,000        
Foreign currency exchange rate, translation 1.1785   1.1785    
3.60% Notes due 2045          
Debt Instrument [Line Items]          
Long-term debt $ 819 0      
Stated interest rate (as a percent) 3.60%   3.60%    
Debt instrument, face amount $ 700        
Foreign currency exchange rate, translation 1.1785   1.1785    
3.70% Notes due 2055          
Debt Instrument [Line Items]          
Long-term debt $ 1,173 $ 0      
Stated interest rate (as a percent) 3.70%   3.70%    
Debt instrument, face amount $ 1,000        
Foreign currency exchange rate, translation 1.1785   1.1785    
v3.25.4
Borrowings - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Jun. 30, 2025
Short-term Debt [Line Items]      
Borrowing capacity under credit facility     $ 10,000
Short-term borrowings and the current portion of long-term debt $ 8,500 $ 6,000  
Borrowed under the commercial paper program 2,000 1,700  
Loans and notes payable 8,495 5,983  
Commercial Paper      
Short-term Debt [Line Items]      
Loans and notes payable $ 6,500 $ 4,100  
Debt, weighted average interest rate 3.81% 4.46%  
Debt instrument, term 2 months 2 months  
v3.25.4
Borrowings - Aggregate Maturities of Long Term Obligations (Details)
$ in Millions
Dec. 28, 2025
USD ($)
Aggregate maturities of long-term obligations  
2026 $ 2,000
2027 3,216
2028 3,128
2029 2,153
2030 2,689
After 2030 $ 28,252
v3.25.4
Income taxes - Provision for Income Taxes (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Currently payable:      
U.S. taxes $ 1,163 $ 2,200 $ 2,705
International taxes 3,076 2,604 3,090
Total currently payable 4,239 4,804 5,795
Deferred:      
U.S. taxes 2,008 (2,539) (3,440)
International taxes (470) 356 (619)
Total deferred 1,538 (2,183) (4,059)
Provision for taxes on income $ 5,777 $ 2,621 $ 1,736
v3.25.4
Income taxes - Comparison of Income Taxes at Statutory Rate and Company's Effective Tax Rate ASU 2023-09 (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Jan. 02, 2022
Jan. 03, 2021
Effective Income Tax Rate Reconciliation [Line Items]          
U.S.  $ 15,254 $ (458) $ (2,033)    
International 17,327 17,145 17,095    
Earnings before provision for taxes on income 32,581 16,687 15,062    
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]          
U.S. federal statutory rate 6,842        
State and local taxes 162        
Statutory rate difference (861)        
Effects of changes in tax laws or rates enacted in the current period: 1,003        
OBBBA Deferred NCTI Remeasurement 1,003        
Effects of cross border tax laws: 1,601        
NCTI 999        
Subpart F 522        
Other 80        
Tax credits: (2,455)        
NCTI foreign tax credits (1,324)        
Subpart F foreign tax credits (656)        
All other tax credits (475)        
Changes in valuation allowances: 136        
Nontaxable or nondeductible items: 55        
Changes in unrecognized tax benefits: (111)        
Net tax benefit on ordinary losses (595)        
Provision for taxes on income $ 5,777 $ 2,621 $ 1,736    
Tax rates:          
U.S. statutory rate 21.00% 21.00% 21.00% 21.00% 35.00%
U.S. state taxes 0.50% 1.50% 1.00%    
Statutory rate difference (2.70%) (5.20%) (8.10%)    
Effects of changes in tax laws or rates enacted in the current period: 3.10%        
OBBBA Deferred NCTI Remeasurement 3.10%        
Effects of cross border tax laws: 4.90%        
NCTI 3.10%        
Subpart F 1.60%        
Other 0.20%        
Tax credits: (7.60%)        
NCTI foreign tax credits (4.10%)        
Subpart F foreign tax credits (2.00%)        
All other tax credits (1.50%)        
Changes in valuation allowances: 0.40%        
Nontaxable or nondeductible items: 0.20%        
Changes in unrecognized tax benefits: (0.30%)        
All other   0.60% 1.70%    
Net tax benefit on ordinary losses (1.80%)        
Effective Rate 17.70% 15.70% 11.50%    
Accrued repatriated foreign earnings $ (600)        
IRELAND          
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]          
Statutory rate difference (473)        
Other $ (11)        
Tax rates:          
Statutory rate difference (1.50%)        
All other 0.00%        
SWITZERLAND          
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]          
Statutory rate difference $ (607)        
Other $ 283        
Tax rates:          
Statutory rate difference (1.90%)        
All other 0.90%        
Foreign Tax Jurisdiction, Other          
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]          
Statutory rate difference $ (53)        
Tax rates:          
Statutory rate difference (0.20%)        
United States          
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]          
Other $ (595)        
Tax rates:          
All other (1.80%)        
v3.25.4
Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Jan. 02, 2022
Jan. 03, 2021
Income Tax Disclosure [Abstract]          
U.S.  $ 15,254 $ (458) $ (2,033)    
International 17,327 17,145 17,095    
Earnings before provision for taxes on income $ 32,581 $ 16,687 $ 15,062    
U.S. statutory rate 21.00% 21.00% 21.00% 21.00% 35.00%
International operations (2.70%) (5.20%) (8.10%)    
U.S. tax settlements   1.00% (3.00%)    
U.S. taxes on international income   (2.60%) (0.30%)    
U.S. state taxes 0.50% 1.50% 1.00%    
Tax benefits on share-based compensation   (0.60%) (0.80%)    
All other   0.60% 1.70%    
Effective Rate 17.70% 15.70% 11.50%    
v3.25.4
Income taxes - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 28, 2025
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Tax Credit Carryforward [Line Items]          
Effective income tax rate reconciliation, increase (decrease), percent   2.00% 4.20%    
Increase (Decrease) in Deferred Income Taxes $ 1,000        
Effective Rate   17.70% 15.70% 11.50%  
Unrecognized tax benefits 2,662 $ 2,662 $ 2,020 $ 2,485 $ 3,716
Unrecognized tax benefits, interest on income tax expense   64 217 $ 99  
Unrecognized tax benefits, interest on income taxes accrued $ 336 336 274    
Effective income tax rate reconciliation, tax settlement, percent       22.00%  
Talc          
Tax Credit Carryforward [Line Items]          
Reversal of fee expense   $ 7,000      
Effective Rate   22.00%      
Consumer Health | Talc          
Tax Credit Carryforward [Line Items]          
Reversal of fee expense   $ 7,000      
Litigation expense     $ 5,100 $ 7,000  
v3.25.4
Income taxes - Temporary Differences and Carryforwards (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Asset      
Employee related obligations $ 54 $ 372  
Stock based compensation 651 717  
R&D capitalized for tax 4,752 4,398  
Reserves & liabilities 2,433 4,444  
Inventory related 378 371  
Net operating loss & tax credit carryforwards 3,561 2,658  
Undistributed foreign earnings 1,718 2,668  
Miscellaneous international 620 852  
Miscellaneous U.S.  300 346  
Total deferred income taxes 14,467 16,826  
Valuation allowances (1,837) (1,638) $ (1,149)
Total deferred income taxes net of valuation allowances 12,630 15,188  
Liability      
Depreciation of property, plant and equipment (929) (833)  
Goodwill and intangibles (6,154) (3,261)  
Undistributed foreign earnings (2,969) (1,492)  
NCTI (Net CFC Tested Income) (2,495) (1,589)  
Total deferred income taxes net of valuation allowances $ (12,547) $ (7,175)  
v3.25.4
Income taxes - Valuation Allowance Activity (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Valuation Allowance [Roll Forward]    
Beginning of year $ 1,638 $ 1,149
Provision 129 451
Utilization (70) 0
Foreign currency translation 90 (46)
Net acquisitions / (dispositions/liquidations) 50 84
End of year $ 1,837 $ 1,638
v3.25.4
Income Taxes - Income Taxes Paid (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Income Tax Examination [Line Items]      
U.S. Federal $ 3,577 $ 3,815 $ 4,722
U.S. State and Local taxes 169 341 236
Total U.S. 3,746 4,156 4,958
Total Foreign 2,793 2,558 3,616
Total income taxes paid net of tax refunds 6,539 6,714 8,574
Undistributed foreign earnings, payments 2,500 $ 2,000 $ 1,500
IRELAND      
Income Tax Examination [Line Items]      
Total Foreign 600    
SWITZERLAND      
Income Tax Examination [Line Items]      
Total Foreign $ 500    
v3.25.4
Income taxes - Summary of Activity Related to Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Summary of unrecognized tax benefits      
Beginning of year $ 2,020 $ 2,485 $ 3,716
Increases related to current year tax positions 87 176 239
Increases related to prior period tax positions 925 129 244
Decreases related to prior period tax positions (160) (147) (781)
Settlements (10) (583) (880)
Lapse of statute of limitations (200) (40) (53)
End of year $ 2,662 $ 2,020 $ 2,485
v3.25.4
Employee related obligations - Employee Related Obligations (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Employee-related Liabilities [Abstract]    
Pension benefits $ 2,917 $ 2,968
Postretirement benefits 1,774 1,920
Postemployment benefits 2,798 2,910
Deferred compensation 44 49
Total employee obligations 7,533 7,847
Less current benefits payable 576 592
Employee related obligations — non-current $ 6,957 $ 7,255
v3.25.4
Employee related obligations - Narrative (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Compensation Related Costs [Abstract]    
Prepaid employee related obligations $ 7,300 $ 6,000
v3.25.4
Pensions and other benefit plans - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Percentage of corridor of greater of market value of assets 10.00%    
Accumulated benefit obligation unfunded plans $ 3,000 $ 5,800  
Projected benefit obligation, unfunded plans 3,100 6,100  
Plan with accumulated benefit obligation in excess of plan assets, plan assets 300 3,200  
Fair value of company's common stock directly held in plan assets 17 13  
Retirement Plans      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 36,658 33,395 $ 33,607
Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 99 93 $ 86
U.S. Plans      
Defined Benefit Plan Disclosure [Line Items]      
Contribution to pension plans 138    
International Plans      
Defined Benefit Plan Disclosure [Line Items]      
Contribution to pension plans 106    
Commingled funds | Level 2 | Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets $ 99 $ 93  
Maximum | Retirement Plans      
Defined Benefit Plan Disclosure [Line Items]      
Retirement plan benefits employee compensation period 5 years    
v3.25.4
Pensions and other benefit plans - Components of Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Retirement Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 928 $ 948 $ 893
Interest cost 1,423 1,402 1,437
Expected return on plan assets (2,392) (2,560) (2,716)
Amortization of prior service cost (184) (184) (184)
Recognized actuarial losses (gains) 339 174 (199)
Curtailments and settlements 0 (2) 93
Net periodic benefit cost (credit) 114 (222) (676)
Other Benefit Plans      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 288 277 264
Interest cost 215 209 214
Expected return on plan assets (7) (7) (7)
Amortization of prior service cost (2) (2) (2)
Recognized actuarial losses (gains) 62 53 23
Curtailments and settlements 0 0 (5)
Net periodic benefit cost (credit) $ 556 $ 530 $ 487
v3.25.4
Pensions and other benefit plans - Rates Used to Develop Actuarial Present Value of Projected Benefit Obligation (Details)
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Retirement Plans      
Net Periodic Benefit Cost      
Service cost discount rate 4.57% 4.39% 4.85%
Interest cost discount rate 5.33% 4.95% 5.25%
Rate of increase in compensation levels 3.69% 3.70% 3.71%
Expected long-term rate of return on plan assets 7.21% 7.25% 7.21%
Benefit Obligation      
Discount rate 5.03% 4.95% 4.58%
Rate of increase in compensation levels 3.69% 3.70% 3.69%
Other Benefit Plans      
Net Periodic Benefit Cost      
Service cost discount rate 5.51% 5.09% 5.40%
Interest cost discount rate 5.45% 5.12% 5.43%
Rate of increase in compensation levels 4.22% 4.22% 4.22%
Benefit Obligation      
Discount rate 5.31% 5.54% 5.11%
Rate of increase in compensation levels 4.26% 4.22% 4.22%
v3.25.4
Pensions and other benefit plans - Assumed Health Care Cost Trend Rates (Details)
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]    
Healthcare cost trend rate assumed for next year 13.90% 9.33%
Rate to which the cost trend rate is assumed to decline (ultimate trend) 4.01% 4.02%
Year the rate reaches the ultimate trend rate 2050 2048
v3.25.4
Pensions and other benefit plans - Schedule of Net Funded Status (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Amounts Recognized in the Company’s Balance Sheet consist of the following:      
Non-current assets $ 7,300 $ 6,000  
Current liabilities (576) (592)  
Non-current liabilities (6,957) (7,255)  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]      
Transferred to group annuity contract 400    
Retirement Plans      
Change in Benefit Obligation      
Projected benefit obligation - beginning of year 30,317 31,744  
Service cost 928 948 $ 893
Interest cost 1,423 1,402 1,437
Plan participant contributions 82 75  
Actuarial (gains) losses (245) (1,245)  
Divestitures & acquisitions 1 0  
Curtailments, settlements & restructuring (11) (121)  
Benefits paid from plan (1,436) (1,801)  
Effect of exchange rates 1,185 (685)  
Projected benefit obligation - end of year 32,244 30,317 31,744
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value — beginning of year 33,395 33,607  
Actual return on plan assets 3,133 2,113  
Company contributions 244 229  
Plan participant contributions 82 75  
Settlements (11) (114)  
Benefits paid from plan assets (1,436) (1,801)  
Effect of exchange rates 1,251 (714)  
Plan assets at fair value - End of year 36,658 33,395 33,607
Funded status - end of year 4,414 3,078  
Amounts Recognized in the Company’s Balance Sheet consist of the following:      
Non-current assets 7,331 6,046  
Current liabilities (144) (136)  
Non-current liabilities (2,773) (2,832)  
Total recognized in the consolidated balance sheet — end of year 4,414 3,078  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]      
Net actuarial loss 2,727 3,903  
Prior service cost (credit) (867) (1,051)  
Unrecognized net transition obligation 0 0  
Total before tax effects 1,860 2,852  
Accumulated Benefit Obligation 30,999 28,883  
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Net periodic benefit cost (credit) 114 (222) (676)
Net actuarial (gain) loss (985) (807)  
Amortization of net actuarial loss (339) (172)  
Prior service cost (credit) 0 0  
Amortization of prior service (cost) credit 184 184  
Effect of exchange rates 148 (79)  
Total loss/(income) recognized in other comprehensive income, before tax (992) (874)  
Total recognized in net periodic benefit cost and other comprehensive income (878) (1,096)  
Other Benefit Plans      
Change in Benefit Obligation      
Projected benefit obligation - beginning of year 4,425 4,108  
Service cost 288 277 264
Interest cost 215 209 214
Plan participant contributions 0 0  
Actuarial (gains) losses (12) 398  
Divestitures & acquisitions 0 0  
Curtailments, settlements & restructuring 0 0  
Benefits paid from plan (787) (556)  
Effect of exchange rates 9 (11)  
Projected benefit obligation - end of year 4,138 4,425 4,108
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value — beginning of year 93 86  
Actual return on plan assets 13 15  
Company contributions 780 548  
Plan participant contributions 0 0  
Settlements 0 0  
Benefits paid from plan assets (787) (556)  
Effect of exchange rates 0 0  
Plan assets at fair value - End of year 99 93 86
Funded status - end of year (4,039) (4,332)  
Amounts Recognized in the Company’s Balance Sheet consist of the following:      
Non-current assets 0 0  
Current liabilities (432) (453)  
Non-current liabilities (3,607) (3,879)  
Total recognized in the consolidated balance sheet — end of year (4,039) (4,332)  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]      
Net actuarial loss 609 691  
Prior service cost (credit) (2) (4)  
Unrecognized net transition obligation 0 0  
Total before tax effects 607 687  
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Net periodic benefit cost (credit) 556 530 $ 487
Net actuarial (gain) loss (19) 389  
Amortization of net actuarial loss (62) (53)  
Prior service cost (credit) 0 0  
Amortization of prior service (cost) credit 2 2  
Effect of exchange rates (1) 1  
Total loss/(income) recognized in other comprehensive income, before tax (80) 339  
Total recognized in net periodic benefit cost and other comprehensive income $ 476 $ 869  
v3.25.4
Pensions and other benefit plans - Information Related to the Benefit Obligation and the Fair Value of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Qualified Plans | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets $ 24,057 $ 22,250
Projected Benefit Obligation 19,111 18,146
Accumulated Benefit Obligation 18,867 17,726
Projected Benefit Obligation 4,946 4,104
Accumulated Benefit Obligation 5,190 4,524
Non-Qualified Plans | U.S. Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets 0 0
Projected Benefit Obligation 2,084 1,990
Accumulated Benefit Obligation 2,064 1,949
Projected Benefit Obligation (2,084) (1,990)
Accumulated Benefit Obligation (2,064) (1,949)
Funded Plans | International Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets 12,601 11,145
Projected Benefit Obligation 10,910 10,069
Accumulated Benefit Obligation 9,957 9,115
Projected Benefit Obligation 1,691 1,076
Accumulated Benefit Obligation 2,644 2,030
Unfunded Plans | International Plans    
Defined Benefit Plan Disclosure [Line Items]    
Plan Assets 0 0
Projected Benefit Obligation 139 112
Accumulated Benefit Obligation 111 93
Projected Benefit Obligation (139) (112)
Accumulated Benefit Obligation $ (111) $ (93)
v3.25.4
Pensions and other benefit plans - Projected Future Benefit Payments from Company's Retirement and Other Benefit Plans (Details)
$ in Millions
Dec. 28, 2025
USD ($)
Retirement plans  
Defined Benefit Plan Disclosure [Line Items]  
2024 $ 1,678
2025 1,698
2026 1,798
2027 1,890
2028 1,996
2029-2033 11,386
Other benefit plans   
Defined Benefit Plan Disclosure [Line Items]  
2024 444
2025 401
2026 414
2027 427
2028 443
2029-2033 $ 2,425
v3.25.4
Pensions and other benefit plans - Projected Future Minimum Contributions to the Company's U.S. and International Unfunded Retirement Plans (Details)
$ in Millions
Dec. 28, 2025
USD ($)
Retirement Benefits [Abstract]  
2024 $ 142
2025 148
2026 152
2027 156
2028 163
2029-2033 $ 878
v3.25.4
Pensions and other benefit plans - Company' Retirement Plan Asset Allocation and Target Allocations (Details)
Dec. 28, 2025
Dec. 29, 2024
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% 55.00%
Target Allocation 54.00%  
Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Percent of Plan Assets 45.00% 45.00%
Target Allocation 46.00%  
v3.25.4
Pensions and other benefit plans - Schedule of Defined Benefit Plans Disclosures (Details) - Retirement plans - USD ($)
$ in Millions
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets $ 36,658 $ 33,395 $ 33,607
Fair Value, Measurements, Recurring      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 36,658 33,395  
Investments Measured at Net Asset Value 11,037 10,277  
Fair Value, Measurements, Recurring | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 6,704 7,144  
Fair Value, Measurements, Recurring | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 18,808 15,809  
Fair Value, Measurements, Recurring | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 109 165  
Fair Value, Measurements, Recurring | Short-term investment funds      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 734 511  
Fair Value, Measurements, Recurring | Short-term investment funds | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 57 0  
Fair Value, Measurements, Recurring | Short-term investment funds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 677 511  
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 9,149 7,885  
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 9,149 7,885  
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 2,310 2,321  
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 2,310 2,321  
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 6,648 7,144  
Fair Value, Measurements, Recurring | Equity securities | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 6,647 7,144  
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 1 0  
Fair Value, Measurements, Recurring | Commingled funds      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 12,210 11,231  
Investments Measured at Net Asset Value 6,105 6,190  
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 6,105 5,004  
Fair Value, Measurements, Recurring | Commingled funds | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 0 37  
Fair Value, Measurements, Recurring | Other assets      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets 5,607 4,303  
Investments Measured at Net Asset Value 4,932 4,087  
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 567 88  
Fair Value, Measurements, Recurring | Other assets | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan Assets $ 108 $ 128  
v3.25.4
Savings plan (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Savings Plan [Abstract]      
Matching contributions $ 277 $ 282 $ 263
v3.25.4
Capital and treasury stock - Changes in Treasury Stock (Details) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Changes in Treasury Stock Shares Outstanding [Roll Forward]      
Treasury Stock, beginning balance (shares) 712,921 712,765 506,246
Employee compensation and stock option plans (shares) (34,920) (15,027) (15,521)
Treasury Stock, ending balance (shares) 711,904 712,921 712,765
Changes in treasury stock      
Treasury Stock, Balance $ 75,680,000 $ 75,662,000 $ 41,694,000
Employee compensation and stock option plans (6,009,000) (2,389,000) (2,529,000)
Kenvue Separation /IPO     23,786,000
Treasury Stock, Ending Balance $ 75,624,000 $ 75,680,000 $ 75,662,000
Treasury Stock Amount      
Changes in Treasury Stock Shares Outstanding [Roll Forward]      
Repurchase of common stock (shares) 33,903 15,183 31,085
Kenvue share exchange (Note 21)     190,955
Changes in treasury stock      
Repurchase of common stock $ 5,953,000 $ 2,407,000 $ 5,079,000
Kenvue Separation /IPO     $ 31,418,000
v3.25.4
Capital and treasury stock - Narrative (Details) - $ / shares
shares in Thousands
12 Months Ended
Jan. 02, 2026
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
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)   $ 5.14 $ 4.91 $ 4.70
Subsequent Event        
Equity, Class of Treasury Stock [Line Items]        
Cash dividend (in dollars per share) $ 1.30      
v3.25.4
Accumulated other comprehensive income (loss) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance $ 71,490 $ 68,774 $ 76,804
Net change (3,189) 786 (4,741)
Ending Balance 81,544 71,490 68,774
Foreign Currency Translation      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (8,441) (10,149) (11,813)
Net change (5,506) 1,708 (3,221)
Kenvue Separation/IPO     4,885
Ending Balance (13,947) (8,441) (10,149)
Gain/(loss) On Securities      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance 1 (1) (27)
Net change (1) 2 26
Kenvue Separation/IPO     0
Ending Balance 0 1 (1)
Employee Benefit Plans      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (1,551) (2,000) (897)
Net change 858 449 (1,399)
Kenvue Separation/IPO     296
Ending Balance (693) (1,551) (2,000)
Gain/ (Loss) On Derivatives & Hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (1,750) (377) (230)
Net change 1,460 (1,373) (147)
Kenvue Separation/IPO     0
Ending Balance (290) (1,750) (377)
Accumulated Other Comprehensive Income (Loss)      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (11,741) (12,527) (12,967)
Net change (3,189) 786 (4,741)
Kenvue Separation/IPO     5,181
Ending Balance $ (14,930) $ (11,741) $ (12,527)
v3.25.4
International currency translation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Foreign Currency Translation [Abstract]      
Foreign currency transaction gain (loss), before tax $ (254) $ (214) $ (366)
v3.25.4
Earnings per share - Reconciliation of Basic Net Earnings per Share to Diluted Net Earnings per Share (Details) - $ / shares
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
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) $ 11.13 $ 5.84 $ 5.26  
Basic net earnings per share from discontinued operations (in dollars per share) 0 0 8.62  
Basic net earnings per share (in dollars per share) $ 11.13 $ 5.84 $ 13.88  
Average shares outstanding — basic (in shares) 2,407,400,000 2,407,300,000 2,533,500,000  
Potential shares exercisable under stock option plans (in shares) 124,100,000 77,700,000 94,100,000  
Less: shares repurchased under treasury stock method (in shares) (102,100,000) (55,600,000) (67,200,000)  
Average shares outstanding - diluted (in shares) 2,429,400,000 2,429,400,000 2,560,400,000  
Diluted net earnings per share from continuing operations (in dollars per share) $ 11.03 $ 5.79 $ 5.20  
Diluted net earnings per share from discontinuing operations (in dollars per share) 0 0 8.52  
Diluted net earnings per share (in dollars per share) $ 11.03 $ 5.79 $ 13.72  
Antidilutive securities excluded from computation of earnings per share (in shares) 0 54.1   43.0
v3.25.4
Earnings per share - Narrative (Details) - shares
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Jan. 01, 2023
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (in shares) 0 54.1 43.0
v3.25.4
Common stock, stock option plans and stock compensation agreements - Narrative (Details)
$ / shares in Units, shares in Thousands, $ in Millions
12 Months Ended
Dec. 28, 2025
USD ($)
StockBasedCompensationPlans
$ / shares
shares
Dec. 29, 2024
USD ($)
$ / shares
shares
Dec. 31, 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 | $ $ 1,400 $ 1,200 $ 1,100
Total income tax benefit recognized | $ 283 251 221
Exercise of options, tax benefit | $ 215 94 126
Total compensation cost not yet recognized for option | $ $ 1,100 $ 1,000 $ 900
Weighted average period for total compensation cost not yet recognized 1 year 9 months 3 days 1 year 9 months 21 days 1 year 9 months 18 days
Average fair value of option granted (in dollars per share) | $ / shares $ 27.07 $ 27.67 $ 27.85
Total intrinsic value of options exercised | $ $ 1,442 $ 560 $ 729
Stock options outstanding (in shares) | shares 93,072 112,629 112,238
Stock option average life 5 years 6 months 5 years 3 months 18 days 5 years 6 months
Stock options exercisable (in shares) | shares   74,683 66,998
Stock options average price (in dollars per share) | $ / shares   $ 135.72 $ 123.39
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 $ 146.95 $ 147.51 $ 152.63
Fair Value of RSU or PSU units settled | $ $ 1,104 $ 833 $ 605
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 $ 155.71 $ 133.76 $ 145.17
Fair Value of RSU or PSU units settled | $ $ 67 $ 146 $ 140
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 3 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 93,000    
v3.25.4
Common stock, stock option plans and stock compensation agreements - Schedule Valuation Assumptions (Details)
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Weighted average assumptions of fair value of options      
Risk-free rate 4.33% 4.15% 3.74%
Expected volatility 17.99% 17.85% 17.69%
Expected life (in years) 7 years 7 years 7 years
Expected dividend yield 3.30% 3.10% 2.90%
v3.25.4
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. 28, 2025
Dec. 29, 2024
Outstanding Shares    
Options outstanding beginning of period (in shares) 112,629  
Options granted (in shares) 12,367  
Options exercised (in shares) (29,742)  
Options canceled/forfeited (in shares) (2,182)  
Options outstanding end of period (in shares) 93,072  
Weighted Average Exercise Price    
Options exercise price beginning of period (in dollars per share) $ 144.69  
Options granted, average exercise price (in dollars per share) 156.15  
Options exercised, average exercise price (in dollars per share) 128.09  
Options canceled/forfeited, average exercise price (in dollars per share) 160.90  
Options exercise price end of period (in dollars per share) $ 151.14  
Aggregate intrinsic value $ 5,257 $ 1,129
v3.25.4
Common stock, stock option plans and stock compensation agreements - Summary of Options Outstanding (Details) - $ / shares
shares in Thousands
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Stock options outstanding and exercisable      
Outstanding number of Options (in shares) 93,072 112,629 112,238
Outstanding, Average Life 5 years 6 months 5 years 3 months 18 days 5 years 6 months
Outstanding Average Exercise Price (in dollars per share) $ 151.14    
Exercisable number of Options (in shares) 67,512    
Exercisable, Average Exercise Price (in dollars per share) $ 148.49    
$101.87 - $115.67      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 101.87    
Price Range, Maximum (in dollars per share) $ 115.67    
Outstanding number of Options (in shares) 7,570    
Outstanding, Average Life 10 months 24 days    
Outstanding Average Exercise Price (in dollars per share) $ 112.45    
Exercisable number of Options (in shares) 7,570    
Exercisable, Average Exercise Price (in dollars per share) $ 112.45    
$129.51 - $131.94      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 129.51    
Price Range, Maximum (in dollars per share) $ 131.94    
Outstanding number of Options (in shares) 15,519    
Outstanding, Average Life 2 years 8 months 12 days    
Outstanding Average Exercise Price (in dollars per share) $ 130.89    
Exercisable number of Options (in shares) 15,518    
Exercisable, Average Exercise Price (in dollars per share) $ 130.89    
$141.06 - $156.15      
Stock options outstanding and exercisable      
Price Range, Minimum (in dollars per share) 141.06    
Price Range, Maximum (in dollars per share) $ 156.15    
Outstanding number of Options (in shares) 23,178    
Outstanding, Average Life 6 years 8 months 12 days    
Outstanding Average Exercise Price (in dollars per share) $ 153.84    
Exercisable number of Options (in shares) 11,307    
Exercisable, Average Exercise Price (in dollars per share) $ 151.41    
$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) 23,350    
Outstanding, Average Life 7 years 7 months 6 days    
Outstanding Average Exercise Price (in dollars per share) $ 160.27    
Exercisable number of Options (in shares) 10,318    
Exercisable, Average Exercise Price (in dollars per share) $ 161.13    
$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) 23,455    
Outstanding, Average Life 5 years 7 months 6 days    
Outstanding Average Exercise Price (in dollars per share) $ 165.29    
Exercisable number of Options (in shares) 22,799    
Exercisable, Average Exercise Price (in dollars per share) $ 165.27    
v3.25.4
Common stock, stock option plans and stock compensation agreements - Summary of Restricted Share Units (Details)
shares in Thousands
12 Months Ended
Dec. 28, 2025
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) 13,041
Granted (in shares) 7,146
Issued (in shares) (7,267)
Canceled/forfeited/adjusted (in shares) (784)
Ending balance (in shares) 12,136
Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]  
Beginning balance (in shares) 2,013
Granted (in shares) 597
Issued (in shares) (406)
Canceled/forfeited/adjusted (in shares) (93)
Ending balance (in shares) 2,111
v3.25.4
Segments of Business and Geographic Areas - Sales by Segment of Business (Details)
$ in Millions
12 Months Ended
Dec. 28, 2025
USD ($)
segment
Dec. 29, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting Information [Line Items]      
Number of segments | segment 2    
Sales to Customers $ 94,193 $ 88,821 $ 85,159
% Change 6.00% 4.30%  
Innovative Medicine      
Segment Reporting Information [Line Items]      
Sales to Customers $ 60,401 $ 56,964 54,759
% Change 6.00% 4.00%  
Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 15,728 $ 17,828 18,052
% Change (11.80%) (1.20%)  
Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,241 $ 3,396 4,418
% Change (4.60%) (23.10%)  
Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 7,837 $ 7,115 7,140
% Change 10.10% (0.40%)  
Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 25,380 $ 20,781 17,661
% Change 22.10% 17.70%  
Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,437 $ 4,282 3,815
% Change 3.60% 12.30%  
Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,778 $ 3,562 3,671
% Change 6.10% (3.00%)  
MedTech      
Segment Reporting Information [Line Items]      
Sales to Customers $ 33,792 $ 31,857 30,400
% Change 6.10% 4.80%  
MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 8,928 $ 7,707 6,350
% Change 15.80% 21.40%  
MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 9,258 $ 9,158 8,942
% Change 1.10% 2.40%  
MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 10,137 $ 9,845 10,037
% Change 3.00% (1.90%)  
MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,468 $ 5,146 5,072
% Change 6.30% 1.50%  
CARVYKTI | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,887 $ 963 500
% Change 95.90% 92.70%  
DARZALEX | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 14,351 $ 11,670 9,744
% Change 23.00% 19.80%  
ERLEADA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,574 $ 2,999 2,387
% Change 19.20% 25.60%  
IMBRUVICA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,823 $ 3,038 3,264
% Change (7.10%) (6.90%)  
RYBREVANT/LAZCLUZE | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 734 $ 327 93
TALVEY | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 463 287 63
% Change 61.30%    
TECVAYLI | Pharmaceutical | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 670 $ 549 395
% Change 22.10% 38.80%  
ZYTIGA/abiraterone acetate | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 502 $ 631 887
% Change (20.40%) (28.80%)  
Other Oncology | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 376 $ 317 328
% Change 18.50% (3.40%)  
Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,768 $ 1,605 1,839
% Change 10.20% (12.80%)  
Simponi/Simponi Aria | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,668 $ 2,190 2,197
% Change 21.80% (0.30%)  
Stelara | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 6,078 $ 10,361 10,858
% Change (41.30%) (4.60%)  
Tremfya | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,155 $ 3,670 3,147
% Change 40.50% 16.60%  
Other Immunology | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 61 $ 3 11
% Change   (74.10%)  
CAPLYTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers 700 $ 0 0
% Change   0.00%  
CONCERTA/Methylphenidate | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 584 $ 641 783
% Change (9.00%) (18.10%)  
INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,810 $ 4,222 4,115
% Change (9.80%) 2.60%  
SPRAVATO | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,696 $ 1,077 689
% Change 57.40% 56.40%  
OTHER NEUROSCIENCE | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,048 $ 1,175 1,553
% Change (10.90%) (24.30%)  
OPSUMIT | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,325 $ 2,225 1,973
% Change 4.50% 12.80%  
UPTRAVI | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,902 $ 1,817 1,582
% Change 4.70% 14.90%  
Other Pulmonary Hypertension | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 209 $ 240 260
% Change (12.70%) (7.70%)  
EDURANT/rilpivirine | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,486 $ 1,272 1,150
% Change 16.90% 10.60%  
PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,579 $ 1,712 1,854
% Change (7.70%) (7.70%)  
Other Infectious Diseases | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 175 $ 412 1,414
% Change (57.50%)    
XARELTO | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,633 $ 2,373 2,365
% Change 11.00% 0.30%  
Other | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,145 $ 1,189 1,306
% Change (3.70%) (8.90%)  
ELECTROPHYSIOLOGY | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,634 $ 5,267 4,688
% Change 7.00% 12.30%  
Abiomed | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,751 $ 1,496 1,306
% Change 17.10% 14.50%  
Shockwave Medical, Inc. | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,146 $ 564 0
other cardiovascular | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 397 $ 380 356
% Change 4.30% 6.90%  
HIPS | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,674 $ 1,638 1,560
% Change 2.10% 5.00%  
KNEES | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,587 $ 1,545 1,456
% Change 2.70% 6.10%  
TRAUMA | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,146 $ 3,049 2,979
% Change 3.20% 2.30%  
SPINE,SPORTS & OTHER | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,852 $ 2,926 2,947
% Change (2.50%) (0.70%)  
ADVANCED | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,577 $ 4,488 4,671
% Change 2.00% (3.90%)  
GENERAL | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,560 $ 5,358 5,366
% Change 3.80% (0.20%)  
CONTACT LENSES/OTHER | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,910 $ 3,733 3,702
% Change 4.80% 0.80%  
SURGICAL | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,558 $ 1,413 1,370
% Change 10.20% 3.20%  
United States      
Segment Reporting Information [Line Items]      
Sales to Customers $ 53,752 $ 50,302 46,444
% Change 6.90% 8.30%  
United States | Innovative Medicine      
Segment Reporting Information [Line Items]      
Sales to Customers $ 36,344 $ 33,970 31,169
% Change 7.00% 9.00%  
United States | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 9,872 $ 11,355 11,539
% Change (13.10%) (1.60%)  
United States | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,264 $ 1,354 1,500
% Change (6.60%) (9.80%)  
United States | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,151 $ 4,398 4,065
% Change 17.10% 8.20%  
United States | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 13,659 $ 10,854 8,462
% Change 25.80% 28.30%  
United States | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,223 $ 3,143 2,697
% Change 2.60% 16.50%  
United States | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,175 $ 2,866 2,906
% Change 10.80% (1.40%)  
United States | MedTech      
Segment Reporting Information [Line Items]      
Sales to Customers $ 17,408 $ 16,332 15,275
% Change 6.60% 6.90%  
United States | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,305 $ 4,513 3,633
% Change 17.50% 24.20%  
United States | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,720 $ 5,689 5,525
% Change 0.50% 3.00%  
United States | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 4,157 $ 4,003 4,031
% Change 3.90% (0.70%)  
United States | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,225 $ 2,128 2,086
% Change 4.60% 2.00%  
United States | CARVYKTI | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,492 $ 869 469
% Change 71.60% 85.20%  
United States | DARZALEX | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 8,266 $ 6,588 5,277
% Change 25.50% 24.80%  
United States | ERLEADA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,453 $ 1,282 1,065
% Change 13.40% 20.30%  
United States | IMBRUVICA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 892 $ 1,020 1,051
% Change (12.50%) (3.00%)  
United States | RYBREVANT/LAZCLUZE | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 534 $ 257 66
United States | TALVEY | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 340 241 56
% Change 40.90%    
United States | TECVAYLI | Pharmaceutical | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 444 $ 418 334
% Change 6.30% 25.30%  
United States | ZYTIGA/abiraterone acetate | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 23 $ 34 50
% Change (33.20%) (32.20%)  
United States | Other Oncology | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 214 $ 145 93
% Change 47.50% 55.90%  
United States | Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,171 $ 1,009 1,143
% Change 16.00% (11.70%)  
United States | Simponi/Simponi Aria | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,193 $ 1,082 1,124
% Change 10.30% (3.80%)  
United States | Stelara | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,847 $ 6,720 6,966
% Change (42.70%) (3.50%)  
United States | Tremfya | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,529 $ 2,443 2,147
% Change 44.50% 13.70%  
United States | Other Immunology | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 59 $ 3 11
% Change   (74.10%)  
United States | CAPLYTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers 700 $ 0 0
% Change   0.00%  
United States | CONCERTA/Methylphenidate | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 82 $ 134 230
% Change (38.60%) (41.70%)  
United States | INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,725 $ 3,125 2,897
% Change (12.80%) 7.90%  
United States | SPRAVATO | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,485 $ 929 589
% Change 59.90% 57.80%  
United States | OTHER NEUROSCIENCE | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 159 $ 210 349
% Change (24.50%) (39.80%)  
United States | OPSUMIT | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,633 $ 1,557 1,292
% Change 4.80% 20.50%  
United States | UPTRAVI | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,536 $ 1,511 1,326
% Change 1.70% 13.90%  
United States | Other Pulmonary Hypertension | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 54 $ 75 79
% Change (27.00%) (5.10%)  
United States | EDURANT/rilpivirine | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 26 $ 31 35
% Change (18.40%) (10.00%)  
United States | PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,226 $ 1,311 1,446
% Change (6.50%) (9.40%)  
United States | Other Infectious Diseases | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 12 $ 11 19
% Change 6.60% (41.00%)  
United States | XARELTO | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,633 $ 2,373 2,365
% Change 11.00% 0.30%  
United States | Other | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 542 $ 494 541
% Change 9.80% (8.80%)  
United States | ELECTROPHYSIOLOGY | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,891 $ 2,738 2,458
% Change 5.60% 11.40%  
United States | Abiomed | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,393 $ 1,213 1,066
% Change 14.90% 13.70%  
United States | Shockwave Medical, Inc. | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 897 $ 442 0
United States | other cardiovascular | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 124 $ 120 109
% Change 3.10% 10.70%  
United States | HIPS | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,080 $ 1,057 996
% Change 2.10% 6.20%  
United States | KNEES | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 924 $ 922 896
% Change 0.20% 2.90%  
United States | TRAUMA | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,058 $ 2,013 1,949
% Change 2.20% 3.30%  
United States | SPINE,SPORTS & OTHER | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,658 $ 1,696 1,684
% Change (2.20%) 0.70%  
United States | ADVANCED | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,900 $ 1,838 1,833
% Change 3.40% 0.20%  
United States | GENERAL | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,258 $ 2,165 2,198
% Change 4.30% (1.50%)  
United States | CONTACT LENSES/OTHER | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,754 $ 1,684 1,626
% Change 4.10% 3.60%  
United States | SURGICAL | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 471 $ 444 460
% Change 6.10% (3.40%)  
Non-US      
Segment Reporting Information [Line Items]      
Sales to Customers $ 40,441 $ 38,519 38,715
% Change 5.00% (0.50%)  
Non-US | Innovative Medicine      
Segment Reporting Information [Line Items]      
Sales to Customers $ 24,057 $ 22,994 23,590
% Change 4.60% (2.50%)  
Non-US | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,856 $ 6,473 6,513
% Change (9.50%) (0.60%)  
Non-US | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,977 $ 2,042 2,918
% Change (3.20%) (30.00%)  
Non-US | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,686 $ 2,718 3,076
% Change (1.20%) (11.60%)  
Non-US | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 11,721 $ 9,926 9,199
% Change 18.10% 7.90%  
Non-US | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,214 $ 1,140 1,117
% Change 6.50% 2.00%  
Non-US | Innovative Medicine | Cardiovascular/Metabolism/Other      
Segment Reporting Information [Line Items]      
Sales to Customers $ 603 $ 696 765
% Change (13.30%) (9.10%)  
Non-US | MedTech      
Segment Reporting Information [Line Items]      
Sales to Customers $ 16,384 $ 15,525 15,125
% Change 5.50% 2.60%  
Non-US | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,623 $ 3,194 2,717
% Change 13.40% 17.60%  
Non-US | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,538 $ 3,470 3,417
% Change 2.00% 1.50%  
Non-US | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 5,980 $ 5,842 6,006
% Change 2.40% (2.70%)  
Non-US | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,243 $ 3,018 2,986
% Change 7.40% 1.10%  
Non-US | CARVYKTI | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 395 $ 94 30
Non-US | DARZALEX | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 6,085 $ 5,082 4,467
% Change 19.70% 13.80%  
Non-US | ERLEADA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,121 $ 1,717 1,322
% Change 23.50% 29.80%  
Non-US | IMBRUVICA | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,931 $ 2,018 2,214
% Change (4.30%) (8.80%)  
Non-US | RYBREVANT/LAZCLUZE | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 200 $ 70 27
Non-US | TALVEY | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers 123 46 7
Non-US | TECVAYLI | Pharmaceutical | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 226 131 61
% Change 72.80%    
Non-US | ZYTIGA/abiraterone acetate | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 480 $ 597 837
% Change (19.70%) (28.60%)  
Non-US | Other Oncology | Innovative Medicine | Oncology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 162 $ 172 235
% Change (6.00%) (26.80%)  
Non-US | Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 523 $ 497 549
% Change 5.30% (9.50%)  
Non-US | Simponi/Simponi Aria | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,475 $ 1,108 1,073
% Change 33.10% 3.30%  
Non-US | Stelara | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,230 $ 3,641 3,892
% Change (38.70%) (6.40%)  
Non-US | Tremfya | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,626 $ 1,227 999
% Change 32.50% 22.80%  
Non-US | Other Immunology | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2 $ 0 0
% Change   0.00%  
Non-US | CAPLYTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 0 $ 0 0
% Change 0.00% 0.00%  
Non-US | CONCERTA/Methylphenidate | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 502 $ 507 554
% Change (1.20%) (8.40%)  
Non-US | INVEGA SUSTENNA/XEPLION/TRINZA/TREVICTA | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,085 $ 1,097 1,218
% Change (1.10%) (9.90%)  
Non-US | SPRAVATO | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 210 $ 148 100
% Change 41.90% 48.20%  
Non-US | OTHER NEUROSCIENCE | Innovative Medicine | Neuroscience      
Segment Reporting Information [Line Items]      
Sales to Customers $ 889 $ 965 1,204
% Change (7.90%) (19.80%)  
Non-US | OPSUMIT | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 692 $ 668 681
% Change 3.70% (1.90%)  
Non-US | UPTRAVI | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 366 $ 307 255
% Change 19.40% 20.10%  
Non-US | Other Pulmonary Hypertension | Innovative Medicine | Pulmonary Hypertension      
Segment Reporting Information [Line Items]      
Sales to Customers $ 155 $ 165 182
% Change (6.20%) (9.30%)  
Non-US | EDURANT/rilpivirine | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,461 $ 1,241 1,115
% Change 17.70% 11.20%  
Non-US | PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 353 $ 401 408
% Change (11.90%) (1.70%)  
Non-US | Other Infectious Diseases | Innovative Medicine | Infectious Diseases      
Segment Reporting Information [Line Items]      
Sales to Customers $ 163 $ 401 1,395
% Change (59.30%)    
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 $ 603 $ 696 765
% Change (13.30%) (9.10%)  
Non-US | ELECTROPHYSIOLOGY | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,743 $ 2,529 2,230
% Change 8.50% 13.40%  
Non-US | Abiomed | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 358 $ 284 240
% Change 26.40% 18.20%  
Non-US | Shockwave Medical, Inc. | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 249 $ 122 0
Non-US | other cardiovascular | MedTech | Cardiovascular      
Segment Reporting Information [Line Items]      
Sales to Customers $ 273 $ 260 247
% Change 4.90% 5.30%  
Non-US | HIPS | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 594 $ 581 564
% Change 2.20% 3.00%  
Non-US | KNEES | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 663 $ 623 559
% Change 6.50% 11.30%  
Non-US | TRAUMA | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,088 $ 1,036 1,030
% Change 5.00% 0.60%  
Non-US | SPINE,SPORTS & OTHER | MedTech | Orthopaedics      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,193 $ 1,230 1,263
% Change (3.00%) (2.60%)  
Non-US | ADVANCED | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,678 $ 2,650 2,837
% Change 1.00% (6.60%)  
Non-US | GENERAL | MedTech | Surgery      
Segment Reporting Information [Line Items]      
Sales to Customers $ 3,302 $ 3,192 3,168
% Change 3.40% 0.80%  
Non-US | CONTACT LENSES/OTHER | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 2,157 $ 2,049 2,076
% Change 5.30% (1.30%)  
Non-US | SURGICAL | MedTech | Vision      
Segment Reporting Information [Line Items]      
Sales to Customers $ 1,086 $ 969 910
% Change 12.10% 6.50%  
UNITED STATES Exports | Remicade | Innovative Medicine | Immunology      
Segment Reporting Information [Line Items]      
Sales to Customers $ 74 $ 98 $ 147
% Change (24.80%) (33.00%)  
v3.25.4
Segments of Business and Geographic Areas - Income Before Tax by Segment (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers $ 94,193 $ 88,821 $ 85,159
Cost of products sold 30,256 27,471 26,553
Selling, marketing and administrative expenses 23,676 22,869 21,512
Research and development expense 14,665 17,232 15,085
Other (income) expense, net 7,209 (4,694) (6,634)
Earnings before provision for taxes on income 32,581 16,687 15,062
Less: Expense not allocated to segments (6,202) 5,972 7,853
Contingent Consideration 753 1,217  
Abiomed      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Contingent Consideration 400    
Operating Segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 94,193 88,821 85,159
Earnings before provision for taxes on income 26,379 22,659 22,915
Innovative Medicine      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 60,401 56,964 54,759
Acquisition related costs 400    
Innovative Medicine | Operating Segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 60,401 56,964 54,759
Cost of products sold 15,646 14,036 13,715
Selling, marketing and administrative expenses 11,375 10,906 9,842
Research and development expense 11,827 13,529 11,963
Other (income) expense, net (713) (426) 993
Earnings before provision for taxes on income 22,266 18,919 18,246
MedTech      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 33,792 31,857 30,400
Acquisition related costs 200 1,000 200
Litigation expense 900 300  
Marketable Security, Realized Gain (Loss) 200    
MedTech | Operating Segments      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Sales to Customers 33,792 31,857 30,400
Cost of products sold 14,549 13,345 12,722
Selling, marketing and administrative expenses 11,354 10,812 10,476
Research and development expense 2,838 3,703 3,122
Other (income) expense, net 938 257 (589)
Earnings before provision for taxes on income $ 4,113 $ 3,740 $ 4,669
v3.25.4
Segments of Business and Geographic Areas - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income $ 32,581 $ 16,687 $ 15,062
Identifiable Assets 199,210 180,104  
Additions to Property, Plant & Equipment 4,832 4,424 4,543
Depreciation and Amortization 7,503 7,339 7,486
Equity securities, FV-NI, gain (loss)   400 400
Proceeds from Royalties Received   300  
Restructuring 228 234 489
Yellow Jersey Therapeutics      
Segment Reporting Information [Line Items]      
Payments to Acquire in Process Research and Development 1,250 1,250  
Baby Powder | Talc      
Segment Reporting Information [Line Items]      
Loss contingency, loss in period   5,100 7,000
Talc      
Segment Reporting Information [Line Items]      
Reversal of fee expense 7,000    
Innovative Medicine      
Segment Reporting Information [Line Items]      
Restructuring   102  
Acquisition related costs 400    
Gain (loss) on divestiture     (200)
Innovative Medicine | Momenta      
Segment Reporting Information [Line Items]      
Impairment of intangible assets, excluding goodwill   200 200
MedTech      
Segment Reporting Information [Line Items]      
Acquisition related costs 200 1,000 200
Gain (loss) on divestiture   200  
Regulation charge   200 300
Litigation expense 900 300  
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 164,539 141,392  
Additions to Property, Plant & Equipment 4,577 4,153 4,025
Depreciation and Amortization 7,262 6,997 6,790
Consumer Health      
Segment Reporting Information [Line Items]      
Additions to Property, Plant & Equipment 0 0 162
Depreciation and Amortization 0 0 383
Consumer Health | Talc      
Segment Reporting Information [Line Items]      
Reversal of fee expense 7,000    
Litigation expense   5,100 7,000
Operating Segments      
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income 26,379 22,659 22,915
Restructuring 512 269 798
Operating Segments | Innovative Medicine      
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income 22,266 18,919 18,246
Identifiable Assets 78,057 57,070  
Additions to Property, Plant & Equipment 2,076 1,710 1,653
Depreciation and Amortization 3,772 3,760 3,847
Restructuring 0 102 479
Supplies expense   100 700
Operating Segments | MedTech      
Segment Reporting Information [Line Items]      
Earnings before provision for taxes on income 4,113 3,740 4,669
Identifiable Assets 86,482 84,322  
Additions to Property, Plant & Equipment 2,501 2,443 2,372
Depreciation and Amortization 3,490 3,237 2,943
Restructuring 500 167 319
Segment Reporting, Reconciling Item, Corporate Nonsegment | General Corporate      
Segment Reporting Information [Line Items]      
Identifiable Assets 34,671 38,712  
Additions to Property, Plant & Equipment 255 271 356
Depreciation and Amortization $ 241 $ 342 $ 313
v3.25.4
Segments of Business and Geographic Areas - Schedule of Segment Reporting By Geographic Area (Details)
$ in Millions
12 Months Ended
Dec. 28, 2025
USD ($)
segment
Dec. 29, 2024
USD ($)
Dec. 31, 2023
USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers $ 94,193 $ 88,821 $ 85,159
Assets $ 199,210 180,104  
Number of segments | segment 2    
Equity securities, FV-NI, gain (loss)   (400) (400)
Restructuring $ 228 234 489
Gain (loss) related to litigation settlement     100
Research and development in process 81 211 313
Property, Plant and Equipment      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets 23,169 20,518  
Other Intangible Assets      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets $ 99,175 81,818  
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) 21.80% 20.50% 18.20%
Wholesaler 2 | Sales Revenue, Net | Wholesaler Concentration Risk      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Concentration risk (as a percent) 15.50% 15.60% 15.10%
Wholesaler 3 | Sales Revenue, Net | Wholesaler Concentration Risk      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Concentration risk (as a percent) 11.10% 12.30% 14.20%
Innovative Medicine      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers $ 60,401 $ 56,964 $ 54,759
Restructuring   102  
Realized gain (loss)   100 (400)
Gain (loss) related to litigation settlement     100
Gain (loss) on divestiture     (200)
Innovative Medicine | Momenta      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Impairment of intangible assets, excluding goodwill   $ 200 $ 200
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]   Other (income) expense, net Other (income) expense, net
MedTech      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 33,792 $ 31,857 $ 30,400
Gain (loss) on divestiture   200  
Regulation charge   200 300
Litigation expense 900 300  
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 53,752 50,302 46,444
United States | Innovative Medicine      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 36,344 33,970 31,169
United States | MedTech      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 17,408 16,332 15,275
Operating Segments      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 94,193 88,821 85,159
Long-Lived Assets 121,127 101,119  
Restructuring 512 269 798
Operating Segments | Innovative Medicine      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 60,401 56,964 54,759
Assets 78,057 57,070  
Supplies expense   100 700
Restructuring 0 102 479
Operating Segments | MedTech      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 33,792 31,857 30,400
Assets 86,482 84,322  
Restructuring 500 167 319
Operating Segments | United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 53,752 50,302 46,444
Long-Lived Assets 89,392 70,670  
Operating Segments | Europe      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 21,535 20,212 20,410
Long-Lived Assets 27,987 27,267  
Operating Segments | Western Hemisphere excluding U.S.       
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 4,875 4,714 4,549
Long-Lived Assets 2,204 1,728  
Operating Segments | Asia-Pacific, Africa      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Sales to Customers 14,031 13,593 $ 13,756
Long-Lived Assets 1,544 1,454  
Segment Reporting, Reconciling Item, Corporate Nonsegment      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Other non long-lived assets 76,866 77,768  
Segment Reporting, Reconciling Item, Corporate Nonsegment | General Corporate      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets 1,217 1,217  
Assets $ 34,671 $ 38,712  
v3.25.4
Acquisitions and divestitures - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 26, 2025
Apr. 02, 2025
Oct. 08, 2024
Jul. 11, 2024
Jun. 20, 2024
May 31, 2024
Mar. 07, 2024
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Business Combination [Line Items]                    
Acquisitions, net of cash acquired (Note 18)               $ 17,541 $ 15,146 $ 0
Goodwill               48,772 44,200 36,558
Goodwill, related to acquisitions               3,488 8,209  
Acclarent                    
Business Combination [Line Items]                    
Proceeds from divestiture of brands                 300  
Ponvory                    
Business Combination [Line Items]                    
Proceeds from divestiture of brands                 200  
V-Wave Ltd.                    
Business Combination [Line Items]                    
Consideration transferred     $ 600              
IPR&D charge     500              
Yellow Jersey Therapeutics                    
Business Combination [Line Items]                    
Consideration transferred       $ 1,250            
IPR&D charge       $ 1,250            
Laminar                    
Business Combination [Line Items]                    
Consideration transferred                   400
IPR&D charge                   $ 400
Maximum | V-Wave Ltd.                    
Business Combination [Line Items]                    
Consideration transferred     $ 1,100              
Halda Therapeutics                    
Business Combination [Line Items]                    
Acquisitions, net of cash acquired (Note 18) $ 3,050                  
Acquisition related costs 200                  
Assets acquired including goodwill 3,400                  
Acquired in-process research and development 2,800                  
Goodwill 600                  
Liabilities assumed 600                  
Goodwill expected tax deductible, amount $ 0                  
Halda Therapeutics | HLD-0915                    
Business Combination [Line Items]                    
Discount rate 17.00%                  
Halda Therapeutics | HLD-0915 | Minimum                    
Business Combination [Line Items]                    
Probability of success factor 47.00%                  
Halda Therapeutics | HLD-0915 | Maximum                    
Business Combination [Line Items]                    
Probability of success factor 68.00%                  
Halda Therapeutics | HLD-0117                    
Business Combination [Line Items]                    
Discount rate 17.50%                  
Probability of success factor 17.00%                  
Intra-Cellular Therapies, Inc.                    
Business Combination [Line Items]                    
Acquisition related costs               400    
Other assets assumed   $ 17,500                
Acquired in-process research and development   8,300                
Goodwill   2,900                
Liabilities assumed   $ 3,000                
Probability of success factor   95.00%                
Acquisition price (in dollars per share)   $ 132.00                
Equity interests issued and issuable   $ 14,500                
Integration-related cost, expense   $ 100                
Intra-Cellular Therapies, Inc. | Minimum                    
Business Combination [Line Items]                    
Discount rate   11.50%                
Probability of success factor   34.00%                
Intra-Cellular Therapies, Inc. | Maximum                    
Business Combination [Line Items]                    
Discount rate   12.50%                
Probability of success factor   50.00%                
Ambrx                    
Business Combination [Line Items]                    
Acquisitions, net of cash acquired (Note 18)             $ 1,800      
Other assets assumed             2,300      
Acquired in-process research and development             1,900      
Liabilities assumed             500      
Goodwill, related to acquisitions             $ 300      
Proteologix                    
Business Combination [Line Items]                    
Acquisitions, net of cash acquired (Note 18)         $ 800          
Acquisition related costs               $ 0    
Other assets assumed         1,200          
Acquired in-process research and development         900          
Liabilities assumed         300          
Goodwill, related to acquisitions         $ 300          
Shockwave Medical, Inc.                    
Business Combination [Line Items]                    
Acquisitions, net of cash acquired (Note 18)           $ 11,500        
Acquisition related costs                 $ 900  
Other assets assumed           14,400        
Acquired in-process research and development           5,300        
Liabilities assumed           2,900        
Goodwill, related to acquisitions           7,600        
Acquired, inventory, current           500        
Acquired, other assets           400        
Payments to acquire businesses, gross           12,600        
Shockwave Medical, Inc. | In Process Research and Development                    
Business Combination [Line Items]                    
Identifiableintangible asset, indefinite-lived           $ 600        
v3.25.4
Acquisitions and divestitures (Details)
$ in Millions
Apr. 02, 2025
USD ($)
intangibleAsset
Dec. 28, 2025
USD ($)
Dec. 29, 2024
USD ($)
Dec. 31, 2023
USD ($)
Assets acquired:        
Goodwill   $ 48,772 $ 44,200 $ 36,558
Intra-Cellular Therapies, Inc.        
Assets acquired:        
Cash and cash equivalents $ 200      
Marketable securities 600      
Other current & non-current assets 300      
Intangible assets assumed 5,200      
Acquired in-process research and development 8,300      
Goodwill 2,900      
Total assets acquired 17,500      
Liabilities assumed:        
Deferred taxes 2,800      
Other current & non-current liabilities 200      
Total liabilities assumed 3,000      
Total assets acquired and liabilities assumed $ 14,500      
Weighted average useful life 8 years      
Number of acquired assets | intangibleAsset 2      
Probability of success factor 95.00%      
Intra-Cellular Therapies, Inc. | Minimum        
Liabilities assumed:        
Discount rate 11.50%      
Probability of success factor 34.00%      
Intra-Cellular Therapies, Inc. | Maximum        
Liabilities assumed:        
Discount rate 12.50%      
Probability of success factor 50.00%      
v3.25.4
Legal proceedings - Narrative (Details)
$ in Millions
1 Months Ended 3 Months Ended 12 Months Ended
May 01, 2024
USD ($)
Jan. 31, 2026
USD ($)
Aug. 31, 2024
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Jul. 31, 2018
USD ($)
Mar. 30, 2025
USD ($)
Dec. 28, 2025
USD ($)
claimant
cases
Dec. 29, 2024
USD ($)
Sep. 30, 2021
cases
Jul. 04, 2021
USD ($)
May 31, 2021
claimant
cases
Subsequent Event                        
Legal Proceeding (Textuals)                        
Payments for legal settlements   $ 800                    
Talc                        
Legal Proceeding (Textuals)                        
Product liability contingency, number of claimants | claimant               74,360        
Physiomesh                        
Legal Proceeding (Textuals)                        
Product liability contingency, number of claimants | claimant               110        
ASR                        
Legal Proceeding (Textuals)                        
Product liability contingency, number of claimants | claimant               30        
Pinnacle Acetabular Cup System                        
Legal Proceeding (Textuals)                        
Product liability contingency, number of claimants | claimant               680        
Pelvic Meshes                        
Legal Proceeding (Textuals)                        
Product liability contingency, number of claimants | claimant               5,190        
Elmiron                        
Legal Proceeding (Textuals)                        
Product liability contingency, number of claimants | claimant               790        
Opioid                        
Legal Proceeding (Textuals)                        
Amount reserved for settlement                     $ 5,000  
Accrual, percentage               80.00%        
Product liability contingency, number of claimants | claimant               3,500        
Opioid | Various State Courts                        
Legal Proceeding (Textuals)                        
Number of open cases | cases               23        
Opioid | Ohio Multi-District Litigation                        
Legal Proceeding (Textuals)                        
Number of open cases | cases               285        
Opioid | Federal Courts                        
Legal Proceeding (Textuals)                        
Number of open cases | cases               3        
Pending Litigation | Physiomesh                        
Legal Proceeding (Textuals)                        
Number of pending claims | cases                       3,600
Number of claims within settlement agreement | cases                   3,729    
Product liability contingency, number of claimants | claimant                       4,300
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 $ 4,700            
Loss contingency, damages paid, value       $ 2,500                
Talc                        
Legal Proceeding (Textuals)                        
Solicitation period 3 months                      
Litigation contingency $ 6,475                      
Loss contingency, payment period 25 years                      
Damages sought, nominal value $ 8,000                      
Bankruptcy loss contingency, discount rate 4.40%                      
Total claims against company, percent 99.75%                      
Incremental charges             $ 5,000          
Amount reserved for settlement               $ 3,400 $ 11,600      
Accrual, nominal value                 $ 13,500      
Reversal of fee expense               $ 7,000        
Accrual, percentage               33.00%        
Mesothelioma and State Claims                        
Legal Proceeding (Textuals)                        
Claims settled, percent     95.00%                  
v3.25.4
Legal proceedings - Product Liabilities (Details)
Dec. 28, 2025
claimant
Talc  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 74,360
ASR  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 30
Pinnacle Acetabular Cup System  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 680
Pelvic Meshes  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 5,190
Physiomesh  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 110
Elmiron  
Loss Contingencies [Line Items]  
Product liability contingency, number of claimants 790
v3.25.4
Restructuring - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 228 $ 234 $ 489
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 300 $ 200 $ 300
Restructuring and Related Cost, Cost Incurred to Date 800    
Surgery Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 200    
Surgery Restructuring Plan | Minimum      
Restructuring Cost and Reserve [Line Items]      
Pre-tax restructuring charges 900    
Surgery Restructuring Plan | Maximum      
Restructuring Cost and Reserve [Line Items]      
Pre-tax restructuring charges $ 1,000    
v3.25.4
Restructuring - Schedule of Restructuring Reserve (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Restructuring Reserve [Roll Forward]      
Restructuring charges $ 228 $ 234 $ 489
R&D Restructuring Plan      
Restructuring Reserve [Roll Forward]      
Restructuring charges   100 500
Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 512 269 798
Innovative Medicine      
Restructuring Reserve [Roll Forward]      
Restructuring charges   102  
Innovative Medicine | Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 0 102 479
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 | Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 500 167 319
Medtech Surgery Franchise | Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges 205 0 0
Medtech Surgery Franchise | Restructuring Charges      
Restructuring Reserve [Roll Forward]      
Restructuring charges 76    
Medtech Surgery Franchise | Costs of Goods and Services Sold      
Restructuring Reserve [Roll Forward]      
Restructuring charges 7    
Medtech Surgery Franchise | Other (Income) Expense      
Restructuring Reserve [Roll Forward]      
Restructuring charges 122    
Medtech Ortho Franchise | Restructuring Charges      
Restructuring Reserve [Roll Forward]      
Restructuring charges 152 132 40
Medtech Ortho Franchise | Costs of Goods and Services Sold      
Restructuring Reserve [Roll Forward]      
Restructuring charges 84 $ 35 $ 279
Medtech Ortho Franchise | Other (Income) Expense      
Restructuring Reserve [Roll Forward]      
Restructuring charges 71    
Orthopaedics Restructuring Plan | Operating Segments      
Restructuring Reserve [Roll Forward]      
Restructuring charges $ 307    
v3.25.4
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. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
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 $ 0 $ 4,241  
Realized gain (loss) on investment       $ 2,500        
Common stock received in exchange offer     $ 31,400          
Accumulated other comprehensive loss         14,930 11,741    
Transition service agreement, term     24 months          
Separation costs incurred           $ 145 $ 986  
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        
v3.25.4
Kenvue separation and discontinued operations - Net Earnings from Discontinued Operation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]      
Sales to customers     $ 10,036
Cost of products sold     4,369
Gross profit     5,667
Selling, marketing and administrative expenses     3,085
Research and development expense     258
Interest Income     (117)
Interest expense, net of portion capitalized     199
Other (income) expense, net     1,092
(Gain) on separation of Kenvue $ 0 $ 0 (20,984)
Earnings from Discontinued Operations Before Provision for Taxes on Income     22,134
Provision for taxes on income     307
Net earnings from Discontinued Operations     $ 21,827
v3.25.4
Kenvue separation and discontinued operations - Depreciation and Amortization of Discontinued Operation (Details)
$ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
Discontinued Operations and Disposal Groups [Abstract]  
Depreciation and Amortization $ 383
Capital expenditures $ 162