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Quarterly Financial Data (Unaudited)
 12 Months Ended
Jan. 02, 2016
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited)
QUARTERLY FINANCIAL DATA (UNAUDITED)
 
First
 
Second
 
Third
 
Fourth
 
(in millions, except per share amounts)
Quarter
 
Quarter
 
Quarter
 
Quarter
 
 
 
 
 
 
 
 
 
 
Fiscal Year 2015:
 
 
 
 
 
 
 
 
Net sales
$
1,345

 
$
1,410

 
$
1,339

 
$
1,447

 
Gross profit
950

 
986

 
914

 
946

 
Net earnings attributable to St. Jude Medical, Inc.
262


290


215


113


Basic net earnings per share attributable to St. Jude Medical, Inc.
$
0.93

 
$
1.03

 
$
0.76

 
$
0.40

 
Diluted net earnings per share attributable to St. Jude Medical, Inc.
$
0.91

 
$
1.02

 
$
0.75

 
$
0.39

 
 
 
 
 
 
 
 
 
 
Fiscal Year 2014:
 
 
 
 
 
 
 
 
Net sales
$
1,363

 
$
1,448

 
$
1,372

 
$
1,439

 
Gross profit
980

 
1,015

 
960

 
1,014

 
Net earnings attributable to St. Jude Medical, Inc.
249


270

 
238


245


Basic net earnings per share attributable to St. Jude Medical, Inc.
$
0.88

 
$
0.95

 
$
0.83

 
$
0.86

 
Diluted net earnings per share attributable to St. Jude Medical, Inc.
$
0.86

 
$
0.93

 
$
0.82

 
$
0.84

 


During the first, second, third and fourth quarters of 2015, the Company recognized after-tax (benefits) charges of ($17 million), ($20 million), $43 million and $166 million, respectively, in its Net earnings attributable to St. Jude Medical, Inc. These charges (benefits) primarily related to acquisition-related charges (benefits), restructuring charges, intangible asset impairment charges and product field action costs and litigation costs, partially offset by discrete tax (benefits) charges and insurance recoveries. See Notes 2, 8, 9 and 11 for further information.

During the first, second, third and fourth quarters of 2014, the Company recognized after-tax charges of $25 million, $21 million, $39 million and $65 million, respectively, in its Net earnings attributable to St. Jude Medical, Inc. These charges primarily related to restructuring charges, acquisition-related charges, intangible asset impairment charges, product field action costs and litigation costs and legal settlement expenses, partially offset by income tax benefits for discrete income tax adjustments and a favorable legal settlement. See Notes 2, 8, 9 and 11 for further information.