Other (Income)/Deductions - Net (Tables)

3 Months Ended

Apr. 03, 2022

Other Income and Expenses [Abstract]

Schedule of Other (Income)/Deductions - Net

Components of Other (income)/deductions––net include:
	Three Months Ended
(MILLIONS)	April 3, 2022		April 4, 2021
Interest income	$	(14)	$	—
Interest expense	322		336
Net interest expense	308		336
Royalty-related income	(173)		(176)
Net (gains)/losses on asset disposals	(1)		(39)
Net (gains)/losses recognized during the period on equity securities(a)	699		(401)
Income from collaborations, out-licensing arrangements and sales of compound/product rights(b)	(9)		(231)
Net periodic benefit costs/(credits) other than service costs	(283)		(266)
Certain legal matters, net	79		51
Consumer Healthcare JV equity method (income)/loss(c)	(184)		(62)
Other, net	(88)		(216)
Other (income)/deductions––net	$	350	$	(1,004)

(a)The losses in the first quarter of 2022 include, among other things, unrealized losses of $473 million related to our investment in BioNTech. The gains in the first quarter of 2021 included, among other things, unrealized gains of $409 million related to investments in Allogene Therapeutics, Inc. and BioNTech.

(b)The first quarter of 2021 included, among other things, $188 million of net collaboration income from BioNTech related to Comirnaty.

(c)See Note 2C.