Segments of Business and Geographic Areas (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Sales By Segment Of Business

	Fiscal Second Quarter Ended				Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change		June 30, 2024	July 2, 2023	Percent Change
INNOVATIVE MEDICINE
Immunology
U.S.	$2,978	2,865	4.0	%	$5,431	5,313	2.2	%
International	1,744	1,631	6.9		3,538	3,295	7.4
Worldwide	4,722	4,496	5.0		8,969	8,608	4.2
REMICADE
U.S.	231	277	(16.7)		497	553	(10.1)
U.S. Exports	35	33	7.9		62	74	(15.4)
International	127	152	(16.6)		268	322	(16.9)
Worldwide	393	462	(14.9)		827	949	(12.9)
SIMPONI / SIMPONI ARIA
U.S.	267	285	(6.3)		521	556	(6.2)
International	270	244	10.9		569	510	11.7
Worldwide	537	529	1.6		1,091	1,066	2.3
STELARA
U.S.	1,855	1,817	2.1		3,251	3,268	(0.5)
International	1,030	981	5.0		2,085	1,974	5.6
Worldwide	2,885	2,797	3.1		5,336	5,241	1.8
TREMFYA
U.S.	589	450	30.8		1,098	856	28.2
International	317	255	23.9		616	489	25.8
Worldwide	906	706	28.3		1,714	1,346	27.3
OTHER IMMUNOLOGY
U.S.	2	4	(51.5)		2	7	(75.4)
International	0	0	—		0	0	—
Worldwide	2	4	(51.5)		2	7	(75.4)
Infectious Diseases
U.S.	334	395	(15.4)		658	787	(16.4)
International	631	727	(13.1)		1,128	1,920	(41.3)
Worldwide	965	1,121	(13.9)		1,786	2,707	(34.0)
COVID-19 VACCINE
U.S.	0	0	—		0	0	—
International	172	285	(39.7)		197	1,032	(80.9)
Worldwide	172	285	(39.7)		197	1,032	(80.9)

	Fiscal Second Quarter Ended			Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change	June 30, 2024	July 2, 2023	Percent Change
EDURANT / rilpivirine
U.S.	8	8	(2.8)	16	17	(7.0)
International	288	258	11.5	603	529	14.1
Worldwide	297	266	11.0	620	546	13.4
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
U.S.	321	382	(16.0)	635	760	(16.5)
International	117	109	6.5	221	208	6.0
Worldwide	438	491	(11.0)	856	968	(11.6)
OTHER INFECTIOUS DISEASES
U.S.	5	5	18.5	7	10	(29.4)
International	55	74	(25.6)	107	151	(29.3)
Worldwide	61	79	(23.1)	114	161	(29.3)
Neuroscience
U.S.	1,102	1,029	7.1	2,156	2,007	7.4
International	679	764	(11.1)	1,428	1,590	(10.2)
Worldwide	1,782	1,793	(0.6)	3,585	3,597	(0.3)
CONCERTA / methylphenidate
U.S.	34	64	(47.7)	75	134	(44.3)
International	129	143	(9.8)	265	279	(5.1)
Worldwide	163	208	(21.5)	340	414	(17.8)
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
U.S.	784	721	8.8	1,549	1,434	8.0
International	269	310	(13.1)	561	641	(12.4)
Worldwide	1,054	1,031	2.2	2,110	2,075	1.7
SPRAVATO
U.S.	226	144	57.9	417	255	63.9
International	44	25	73.5	78	45	74.6
Worldwide	271	169	60.2	496	300	65.5
OTHER NEUROSCIENCE
U.S.	57	100	(42.5)	115	184	(37.3)
International	237	286	(17.0)	524	625	(16.2)

	Fiscal Second Quarter Ended			Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change	June 30, 2024	July 2, 2023	Percent Change
Worldwide	294	386	(23.7)	639	809	(21.0)
Oncology
U.S.	2,636	2,069	27.4	5,019	3,958	26.8
International	2,455	2,329	5.4	4,885	4,552	7.3
Worldwide	5,090	4,398	15.7	9,904	8,510	16.4
CARVYKTI
U.S.	167	114	46.5	307	184	66.8
International	20	3	*	36	5	*
Worldwide	186	117	59.8	343	189	81.5
DARZALEX
U.S.	1,641	1,322	24.2	3,105	2,513	23.6
International	1,237	1,110	11.5	2,465	2,182	12.9
Worldwide	2,878	2,431	18.4	5,570	4,695	18.6
ERLEADA
U.S.	318	241	32.2	603	490	23.0
International	418	326	28.0	822	619	32.8
Worldwide	736	567	29.8	1,425	1,109	28.4
IMBRUVICA
U.S.	246	262	(6.4)	511	532	(3.9)
International	525	579	(9.4)	1,043	1,136	(8.3)
Worldwide	770	841	(8.5)	1,554	1,668	(6.9)
TECVAYLI
U.S.	104	82	27.5	205	139	47.7
International	30	12	*	63	18	*
Worldwide	135	94	42.9	268	157	70.2
ZYTIGA / abiraterone acetate
U.S.	11	9	21.6	20	25	(19.7)
International	154	218	(29.6)	326	447	(27.2)
Worldwide	165	227	(27.7)	346	472	(26.8)
OTHER ONCOLOGY
U.S.	148	40	*	267	75	*
International	71	80	(10.4)	131	144	(8.5)
Worldwide	221	120	84.2	399	219	82.4
Pulmonary Hypertension
U.S.	743	684	8.7	1,509	1,284	17.5
International	296	289	2.6	579	561	3.4
Worldwide	1,039	972	6.9	2,088	1,844	13.2
OPSUMIT
U.S.	373	328	13.7	729	601	21.3
International	170	179	(5.0)	339	346	(2.2)
Worldwide	544	507	7.1	1,068	947	12.7
UPTRAVI

	Fiscal Second Quarter Ended			Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change	June 30, 2024	July 2, 2023	Percent Change
U.S.	349	338	3.3	741	642	15.5
International	76	61	24.6	152	119	27.6
Worldwide	426	399	6.6	894	761	17.4
OTHER PULMONARY HYPERTENSION
U.S.	20	18	18.8	38	41	(6.1)
International	50	48	3.1	89	95	(6.7)
Worldwide	71	66	7.2	127	136	(6.5)
Cardiovascular / Metabolism / Other
U.S.	717	776	(7.7)	1,348	1,491	(9.6)
International	176	174	0.6	373	386	(3.6)
Worldwide	892	950	(6.2)	1,721	1,877	(8.3)
XARELTO
U.S.	587	637	(7.9)	1,105	1,215	(9.1)
International	—	—	—	—	—	—
Worldwide	587	637	(7.9)	1,105	1,215	(9.1)
OTHER
U.S.	129	138	(6.4)	243	275	(11.8)
International	176	174	0.6	373	386	(3.6)
Worldwide	305	313	(2.5)	616	662	(7.0)
TOTAL INNOVATIVE MEDICINE
U.S.	8,510	7,818	8.9	16,122	14,841	8.6
International	5,980	5,913	1.1	11,930	12,303	(3.0)
Worldwide	14,490	13,731	5.5	28,052	27,144	3.3
MEDTECH
Cardiovascular(1)
U.S.	1,119	908	23.3	2,144	1,771	21.1
International	753	712	5.7	1,534	1,352	13.4
Worldwide	1,873	1,620	15.6	3,679	3,123	17.8
ELECTROPHYSIOLOGY
U.S.	705	609	15.7	1,397	1,180	18.4
International	618	587	5.4	1,270	1,109	14.6
Worldwide	1,323	1,196	10.6	2,667	2,288	16.5
ABIOMED
U.S.	309	272	13.2	612	536	14.1
International	72	59	20.7	139	119	16.5
Worldwide	379	331	14.5	750	655	14.5
SHOCKWAVE(2)
U.S.	77	—	*	77	—	*
International	0	—	—	0	—	—
Worldwide	77	—	*	77	—	*
OTHER CARDIOVASCULAR(1)
U.S.	29	27	12.5	59	55	7.7

	Fiscal Second Quarter Ended			Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change	June 30, 2024	July 2, 2023	Percent Change
International	64	67	(4.5)	126	125	0.8
Worldwide	93	93	0.3	185	180	2.9
Orthopaedics
U.S.	1,422	1,388	2.5	2,870	2,751	4.3
International	890	878	1.4	1,782	1,759	1.3
Worldwide	2,312	2,265	2.1	4,652	4,510	3.2
HIPS
U.S.	265	250	5.8	535	491	8.9
International	152	147	3.4	304	296	2.6
Worldwide	417	397	4.9	839	787	6.5
KNEES
U.S.	230	221	4.2	472	447	5.5
International	163	142	14.9	323	284	13.6
Worldwide	394	363	8.4	795	731	8.7
TRAUMA
U.S.	498	483	3.0	1,002	974	2.9
International	260	255	2.4	521	522	0.0
Worldwide	759	739	2.8	1,524	1,496	1.9
SPINE, SPORTS & OTHER
U.S.	430	433	(0.8)	862	839	2.7
International	314	334	(6.1)	634	657	(3.5)
Worldwide	743	766	(3.1)	1,495	1,495	0.0
Surgery
U.S.	995	1,015	(2.0)	1,982	1,990	(0.4)
International	1,493	1,580	(5.5)	2,922	3,039	(3.8)
Worldwide	2,488	2,594	(4.1)	4,904	5,028	(2.5)
ADVANCED
U.S.	466	466	0.1	912	910	0.2
International	675	757	(10.8)	1,316	1,430	(8.0)
Worldwide	1,141	1,222	(6.7)	2,228	2,340	(4.8)
GENERAL
U.S.	528	548	(3.7)	1,070	1,079	(0.9)
International	818	823	(0.7)	1,606	1,608	(0.2)
Worldwide	1,346	1,372	(1.9)	2,676	2,688	(0.5)
Vision
U.S.	523	529	(1.2)	1,070	1,087	(1.5)
International	763	778	(2.0)	1,473	1,521	(3.2)
Worldwide	1,285	1,308	(1.7)	2,543	2,608	(2.5)
CONTACT LENSES / OTHER
U.S.	409	409	0.2	847	853	(0.6)

	Fiscal Second Quarter Ended				Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change		June 30, 2024	July 2, 2023	Percent Change
International	509	530	(4.0)		981	1,039	(5.6)
Worldwide	918	939	(2.2)		1,828	1,892	(3.4)
SURGICAL
U.S.	113	120	(5.8)		223	234	(4.8)
International	254	249	2.1		492	482	2.1
Worldwide	367	369	(0.5)		715	716	(0.1)
TOTAL MEDTECH
U.S.	4,059	3,839	5.7		8,067	7,598	6.2
International	3,898	3,949	(1.3)		7,711	7,671	0.5
Worldwide	7,957	7,788	2.2		15,778	15,269	3.3
WORLDWIDE
U.S.	12,569	11,657	7.8		24,189	22,439	7.8
International	9,878	9,862	0.2		19,641	19,974	(1.7)
Worldwide	$22,447	21,519	4.3	%	$43,830	42,413	3.3	%

*    Percentage greater than 100% or not meaningful

(1) Previously referred to as Interventional

(2) Acquired on May 31, 2024

Operating Profit by Segment of Business

	Fiscal Second Quarter Ended				Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change		June 30, 2024	July 2, 2023	Percent Change
Innovative Medicine(1)	$5,459	4,812	13.4	%	$10,428	9,214	13.2	%
MedTech(2)	1,089	1,671	(34.8)		2,609	3,080	(15.3)
Segment earnings before provision for taxes	6,548	6,483	1.0		13,037	12,294	6.0
Less: Expense not allocated to segments (3)	800	177			3,575	7,275
Worldwide income (loss) before tax	$5,748	6,306	(8.8)	%	$9,462	5,019	88.5	%

(1) Innovative Medicine includes:

•Intangible amortization expense of $0.7 billion in both the fiscal second quarter of 2024 and 2023. Intangible amortization expense of $1.4 billion and $1.5 billion in the fiscal six months of 2024 and 2023, respectively.

•One-time COVID-19 Vaccine related exit costs of $0.1 billion in both the fiscal second quarter and fiscal six months of 2024. One-time COVID-19 Vaccine related exit costs of $0.2 billion and $0.6 billion in the fiscal second quarter and fiscal six months of 2023, respectively.

•Restructuring income of $0.1 billion in the fiscal second quarter of 2024 and a restructuring related charge of $0.1 billion in the fiscal six months of 2024. A restructuring related charge of $0.1 billion and $0.3 billion in the fiscal second quarter and fiscal six months of 2023, respectively. Refer to Note 12 for additional details.

•An In-process research and development impairment of $0.2 billion in the fiscal second quarter and fiscal six months of 2024 associated with the M710 (biosimilar) asset acquired from Momenta in 2020.

(2)    MedTech includes:

•Intangible amortization expense of $0.4 billion in both the fiscal second quarter of 2024 and 2023. Intangible amortization expense of $0.8 billion in both the fiscal six months of 2024 and 2023.

•Favorable intellectual property litigation settlements of $0.3 billion in both the fiscal second quarter and fiscal six months of 2023

•Acquisition and integration related expense of $0.6 billion and $0.6 billion, primarily driven by the Shockwave acquisition, in the fiscal second quarter and fiscal six months of 2024, respectively. Acquisition and integration related expense of $0.1 billion in the fiscal six months of 2023.

•A gain of $0.2 billion related to the Acclarent divestiture recorded in Other (income) expense in the fiscal second quarter and fiscal six months of 2024

•Restructuring related charge of $0.1 billion in the fiscal second quarter and fiscal six months of 2024

(3)    Amounts not allocated to segments include interest (income)/expense and general corporate (income)/expense. The fiscal second quarters of 2024 and 2023 include charges for talc matters of $0.3 billion and $0.2 billion, respectively. The fiscal six months of 2024 and 2023 include charges for talc matters of $3.0 billion and $7.1 billion, respectively (See Note 11, Legal Proceedings, for additional details). The fiscal second quarter and six months of 2024 includes a loss of approximately $0.4 billion related to the debt to equity exchange of the Company's remaining shares of Kenvue Common Stock

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

	Fiscal Second Quarter Ended				Fiscal Six Months Ended
(Dollars in Millions)	June 30, 2024	July 2, 2023	Percent Change		June 30, 2024	July 2, 2023	Percent Change
United States	$12,569	11,657	7.8	%	$24,189	22,439	7.8	%
Europe	5,214	5,131	1.6		10,377	10,721	(3.2)
Western Hemisphere, excluding U.S.	1,212	1,136	6.7		2,406	2,212	8.8
Asia-Pacific, Africa	3,452	3,595	(4.0)		6,858	7,041	(2.6)
Total	$22,447	21,519	4.3	%	$43,830	42,413	3.3	%