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Intangible Assets and Goodwill (Tables)

3 Months Ended

Apr. 03, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

(Dollars in Millions)						April 3, 2022						January 2, 2022
Intangible assets with definite lives:
Patents and trademarks — gross						$	37,960					38,572
Less accumulated amortization						(20,492)						(20,088)
Patents and trademarks — net						17,468						18,484
Customer relationships and other intangibles — gross						22,910						23,011
Less accumulated amortization						(12,147)						(11,925)
Customer relationships and other intangibles — net(1)						10,763						11,086
Intangible assets with indefinite lives:
Trademarks						6,947						6,985
Purchased in-process research and development(2)						9,242						9,837
Total intangible assets with indefinite lives						16,189						16,822
Total intangible assets — net						$	44,420					46,392

(1)The majority is comprised of customer relationships

(2)In the fiscal first quarter of 2022, the Company recorded an intangible asset impairment charge of approximately $0.6 billion related to an in-process research and development asset, bermekimab (JnJ-77474462), an investigational drug for the treatment of Atopic Dermatitis (AD) and Hidradenitis Suppurativa (HS). Additional information regarding efficacy of the AD indication became available which led the Company to the decision to terminate the development of bermekimab for AD. The Company acquired all rights to bermekimab from XBiotech, Inc.in the fiscal year 2020.

Goodwill

Goodwill as of April 3, 2022 was allocated by segment of business as follows:

(Dollars in Millions)						Consumer Health						Pharmaceutical						MedTech						Total
Goodwill at January 2, 2022						$	9,810					10,580						14,856						35,246
Goodwill, related to acquisitions						—						—						73						73
Currency translation/Other						(195)						(170)						(19)						(384)
Goodwill at April 3, 2022						$	9,615					10,410						14,910						34,935

Intangible Asset Amortization Expense

The estimated amortization expense for approved products, before tax, for the five succeeding years is approximately:

(Dollars in Millions)
2022						2023						2024						2025						2026
$4,600						4,600						4,400						3,600						3,000

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- Definition

Schedule of Finite and Indefinite-Lived Intangible Assets Excluding Goodwill by Major Class [Table Text Block]

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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
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-Name Accounting Standards Codification
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