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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 29, 2024
Oct. 01, 2023
Sep. 29, 2024
Oct. 01, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 383 $ 438 $ 737 $ 1,337 [1]
Other comprehensive income (loss), net of taxes        
Foreign currency translation 473 (251) 41 (260)
Employee benefit plans (7) 15 (1) 19
Derivatives and hedges 10 (4) (22) 27
Other comprehensive income (loss) 476 (240) 18 (214) [1]
Comprehensive income $ 859 $ 198 $ 755 $ 1,123
[1] Prior to April 4, 2023, the Company operated as a segment of J&J and not as a separate entity. The Company’s financial statements prior to April 4, 2023 were prepared on a combined basis and were derived from J&J’s historical consolidated financial statements and accounting records as if the Company had been operated on a standalone basis. See Note 1, “Description of the Company and Summary of Significant Accounting Policies—Basis of Presentation,” for more information.