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Kenvue separation and discontinued operations (Tables) | 12 Months Ended
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Dec. 29, 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:
(Dollars in Millions) |  |  |  | 2023(1) | 2022 |
Sales to customers |  |  |  | $10,036 | 14,953 |
Cost of products sold |  |  |  | 4,369 | 6,494 |
Gross profit |  |  |  | 5,667 | 8,459 |
Selling, marketing and administrative expenses |  |  |  | 3,085 | 4,519 |
Research and development expense |  |  |  | 258 | 468 |
Interest Income |  |  |  | (117) | — |
Interest expense, net of portion capitalized |  |  |  | 199 | — |
Other (income) expense, net |  |  |  | 1,092 | 1,060 |
(Gain) on separation of Kenvue |  |  |  | (20,984) | — |
Restructuring |  |  |  | — | 46 |
Earnings from Discontinued Operations Before Provision for Taxes on Income |  |  |  | 22,134 | 2,366 |
Provision for taxes on income |  |  |  | 307 | 795 |
Net earnings from Discontinued Operations |  |  |  | $21,827 | 1,571 |
(1)The Company ceased consolidating the results of the Consumer Health business on August 23, 2023, the date of the exchange offer, but continued to reflect any separation costs incurred as part of discontinued operations through the end of the fiscal fourth quarter. The following table presents depreciation, amortization and capital expenditures of the discontinued operations related to Kenvue:
(Dollars in Millions) | 2023(1) | 2022 |
Depreciation and Amortization | $383 | 641 |
Capital expenditures | $162 | 303 |

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