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Segments of Business (Tables)
 9 Months Ended
Sep. 29, 2024
Segment Reporting [Abstract]  
Schedule of Reportable Business Segments
The Company operates the business through the following three reportable business segments:

Reportable SegmentsProduct Categories
Self Care
Cough, Cold, and Allergy
Pain Care
Other Self Care (Digestive Health, Smoking Cessation, Eye Care, and Other)
Skin Health and BeautyFace and Body Care
Hair, Sun, and Other
Essential HealthOral Care
Baby Care
Other Essential Health (Women’s Health, Wound Care, and Other)
Schedule of Product Categories as a Percent of Net Sales
The Company’s product categories as a percentage of Net sales for the fiscal three and nine months ended September 29, 2024 and October 1, 2023 were as follows:

Fiscal Three Months EndedFiscal Nine Months Ended
Product Categories
September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Cough, Cold, and Allergy13 %13 %14 %14 %
Pain Care 14 14 13 13 
Other Self Care 15 14 15 15 
Face and Body Care20 21 19 20 
Hair, Sun, and Other
7 8 9 9 
Oral Care11 10 10 10 
Baby Care9 9 9 9 
Other Essential Health11 11 11 10 
Total100 %100 %100 %100 %
Schedule of Segment Net Sales and Adjusted Operating Income
Segment net sales and Segment adjusted operating income for the fiscal three and nine months ended September 29, 2024 and October 1, 2023 were as follows:

Segment Net Sales
Fiscal Three Months EndedFiscal Nine Months Ended
(Dollars in Millions)September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Self Care$1,625 $1,613 $4,958 $4,914 
Skin Health and Beauty1,072 1,119 3,229 3,377 
Essential Health1,202 1,183 3,606 3,487 
Total net sales
$3,899 $3,915 $11,793 $11,778 
Segment Adjusted Operating Income
Fiscal Three Months EndedFiscal Nine Months Ended
(Dollars in Millions)September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Self Care$557 $604 $1,692 $1,762 
Skin Health and Beauty191 180 502 530 
Essential Health291 275 914 736 
Segment adjusted operating income(1)(2)
$1,039 $1,059 $3,108 $3,028 
Reconciliation to Income before taxes
Less:
Depreciation(3)
94 72 238 211 
Amortization of intangible assets
66 81 212 242 
Separation-related costs
85 133 231 333 
Restructuring and operating model optimization initiatives38 3 146 3 
Impairment charges
— — 578 — 
Conversion of stock-based awards(4)
6 (25)34 (25)
Founder Shares(5)
7 — 24 — 
Other operating expense (income), net7 9 29 (7)
General corporate/unallocated expenses82 76 258 219 
Operating income$654 $710 $1,358 $2,052 
Other (income) expense, net(19)25 6 65 
Interest expense, net
96 100 283 154 
Income before taxes$577 $585 $1,069 $1,833 
(1) Effective in the fiscal three months ended September 29, 2024, the Company adjusted the allocation for certain brand marketing expenses within Selling, general, and administrative expenses to align with segment financial results as measured by the Company, including the CODM. Accordingly, the Company has updated its segment disclosures to reflect the updated presentation in all prior periods. Total Adjusted operating income did not change as a result of this update.
(2) Effective in the fiscal three months ended June 30, 2024, the Company adjusted the allocation for certain Research and development costs within Selling, general, and administrative expenses to align with segment financial results as measured by the Company, including the CODM. Accordingly, the Company has updated its segment disclosures to reflect the updated presentation in all prior periods. Total Adjusted operating income did not change as a result of this update.
(3) Depreciation includes the amortization of integration and development costs capitalized in connection with cloud computing arrangements.
(4) Segment adjusted operating income excludes the impact of the conversion of stock-based awards that occurred on August 23, 2023. The adjustment represents the net impact of the gain on reversal of previously recognized stock-based compensation expense, offset by stock-based compensation expense recognized in the fiscal three and nine months ended September 29, 2024 relating to employee services provided prior to the Separation.
(5) On August 25, 2023, the Company’s Compensation & Human Capital Committee approved equity grants to individuals employed by Kenvue as of October 2, 2023 (the “Founder Shares”). On October 2, 2023, the Founder Shares were granted to all Kenvue employees in the form of stock options and PSUs to executive officers and either stock options and PSUs or RSUs to non-executive individuals.