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Kenvue Separation (Tables) | 6 Months Ended
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Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | Details of Net Earnings from Discontinued Operations, net of taxes are as follows:
|  | Fiscal Second Quarter Ended |  | Fiscal Six Months Ended |  |
(Dollars in Millions) |  | July 2, 2023 |  | July 2, 2023 |  |  |  |
Sales to customers |  | $4,011 |  | $7,863 |  |  |  |
Cost of products sold |  | 1,750 |  | 3,458 |  |  |  |
Gross profit |  | 2,261 |  | 4,405 |  |  |  |
Selling, marketing and administrative expenses |  | 1,269 |  | 2,501 |  |  |  |
Research and development expense |  | 126 |  | 234 |  |  |  |
Interest Income |  | (42) |  | (79) |  |  |  |
Interest expense, net of portion capitalized |  | 128 |  | 131 |  |  |  |
Other (income) expense, net |  | 324 |  | 612 |  |  |  |
Earnings from Discontinued Operations Before Provision for Taxes on Income |  | 456 |  | 1,006 |  |  |  |
Provision for taxes on income |  | 688 |  | 815 |  |  |  |
Net (loss)/earnings from Discontinued Operations |  | $(232) |  | $191 |  |  |  |
The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue:
|  | Fiscal Second Quarter Ended |  | Fiscal Six Months Ended
(Dollars in Millions) |  | July 2, 2023 |  | July 2, 2023
Depreciation and Amortization |  | $149 |  | $302
Capital expenditures |  | $92 |  | $139

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