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Segments of Business (Tables)
 9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
Schedule of Reportable Business Segments
The Company operates the business through the following three reportable business segments based on product categories:

Reportable SegmentsProduct Categories
Self Care
Cough, Cold, and Allergy
Pain Care
Other Self Care (Digestive Health, Smoking Cessation, Eye Care, and Other)
Skin Health and BeautyFace and Body Care
Hair, Sun, and Other
Essential HealthOral Care
Baby Care
Other Essential Health (Women’s Health, Wound Care, and Other)
Schedule of Product Categories as a Percent of Net Sales
The Company’s product categories as a percentage of Net sales for the fiscal three and nine months ended September 28, 2025 and September 29, 2024 were as follows:

Fiscal Three Months EndedFiscal Nine Months Ended
Product CategoriesSeptember 28, 2025September 29, 2024September 28, 2025September 29, 2024
Cough, Cold, and Allergy13 %13 %14 %14 %
Pain Care13 14 13 13 
Other Self Care16 15 15 15 
Face and Body Care20 20 19 19 
Hair, Sun, and Other8 7 8 9 
Oral Care10 11 11 10 
Baby Care9 9 9 9 
Other Essential Health11 11 11 11 
Total100 %100 %100 %100 %
Schedule of Segment Net Sales and Adjusted Operating Income
Segment net sales and Segment adjusted operating income for the fiscal three and nine months ended September 28, 2025 and September 29, 2024 were as follows:

Fiscal Three Months Ended
September 28, 2025September 29, 2024
(Dollars in Millions)Self CareSkin Health and BeautyEssential HealthTotalSelf CareSkin Health and BeautyEssential HealthTotal
Net sales$1,564 $1,038 $1,162 $3,764 $1,625 $1,072 $1,202 $3,899 
Segment adjusted Cost of sales(1)
546 401 512 1,459 569 421 539 1,529 
Other segment expense items(2)
498 500 343 1,341 499 460 372 1,331 
Segment adjusted operating income$520 $137 $307 $964 $557 $191 $291 $1,039 
Reconciliation to Income before taxes
Less:
Depreciation(3)
75 94 
Amortization of intangible assets(4)
66 66 
Separation-related costs(5)
17 85 
Restructuring expenses and operating model optimization initiatives(6)
97 38 
Conversion of stock-based awards(8)
1 6 
Founder Shares(9)
(4)7 
Other operating expense, net1 7 
General corporate/unallocated expenses82 82 
Operating income$629 $654 
Other expense (income), net10 (19)
Interest expense, net93 96 
Income before taxes$526 $577 
Fiscal Nine Months Ended
September 28, 2025September 29, 2024
(Dollars in Millions)Self CareSkin Health and BeautyEssential HealthTotalSelf CareSkin Health and BeautyEssential HealthTotal
Net sales $4,786 $3,074 $3,484 $11,344 $4,958 $3,229 $3,606 $11,793 
Segment adjusted Cost of sales(1)
1,681 1,236 1,539 4,456 1,693 1,324 1,597 4,614 
Other segment expense items(2)
1,492 1,460 1,048 4,000 1,573 1,403 1,095 4,071 
Segment adjusted operating income$1,613 $378 $897 $2,888 $1,692 $502 $914 $3,108 
Reconciliation to Income before taxes
Less:
Depreciation(3)
226 238 
Amortization of intangible assets(4)
193 212 
Separation-related costs(5)
79 231 
Restructuring expenses and operating model optimization initiatives(6)
232 146 
Impairment charges(7)
— 578 
Conversion of stock-based awards(8)
5 34 
Founder Shares(9)
4 24 
Other operating expense, net19 29 
General corporate/unallocated expenses251 258 
Operating income$1,879 $1,358 
Other expense, net26 6 
Interest expense, net281 283 
Income before taxes$1,572 $1,069 
(1) The Company defines Segment adjusted cost of sales as Cost of sales adjusted for amortization of intangible assets, Separation-related costs, conversion of stock-based awards, Founder Shares (as defined below), operating model optimization initiatives, and general corporate/unallocated expenses.
(2) Other segment expense items for each reportable segment include brand support, employee-related costs, shipping and handling costs, research and development costs, and certain other operating expenses (income).
(3) Depreciation consists of depreciation of property, plant, and equipment and amortization of integration and development costs capitalized in connection with cloud computing arrangements.
(4) Relates to the amortization of definite-lived intangible assets (primarily trademarks, trade names, and customer lists) over their estimated useful lives.
(5) Separation-related costs includes depreciation expense on Separation-related assets for the fiscal three and nine months ended September 29, 2024. See Note 1, “Description of the Company and Summary of Significant Accounting Policies—Separation-Related Costs,” for additional information regarding Separation-related costs.
(6) Restructuring expenses and operating model optimization initiatives relate to the 2024 Multi-Year Restructuring Initiative (as defined in Note 15, “Restructuring Expenses and Operating Model Optimization Initiatives”). See Note 15, “Restructuring Expenses and Operating Model Optimization Initiatives,” for additional information.
(7) Impairment charges includes $488 million recognized in the fiscal three months ended June 30, 2024 in relation to Dr.Ci:Labo® long-lived assets, $68 million recognized in the fiscal three months ended March 31, 2024 on the held for sale asset associated with the Company’s former corporate headquarters in Skillman, New Jersey, and $22 million recognized in the fiscal three months ended June 30, 2024 on certain software development assets. See Note 1, “Description of the Company and Summary of Significant Accounting Policies—Impairment Charges,” for additional information.
(8) Segment adjusted operating income excludes the impact of the conversion of stock-based awards that occurred on August 23, 2023. The adjustment represents the net impact of the gain on reversal of previously recognized stock-based compensation expense, offset by stock-
based compensation expense recognized in the fiscal three and nine months ended September 28, 2025 and September 29, 2024 relating to employee services provided prior to the Separation.
(9) On August 25, 2023, the Company’s Compensation & Human Capital Committee approved equity grants to individuals employed by Kenvue as of October 2, 2023 (the “Founder Shares”). On October 2, 2023, the Founder Shares were granted to all Kenvue employees in the form of stock options and PSUs to executive officers and either stock options and PSUs or RSUs to non-executive individuals.
Depreciation and amortization by reportable segment for the fiscal three and nine months ended September 28, 2025 and September 29, 2024 were as follows:

Fiscal Three Months EndedFiscal Nine Months Ended
(Dollars in Millions)September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Self Care$52 $70 $154 $155 
Skin Health and Beauty32 46 94 143 
Essential Health57 66 171 174 
Total depreciation and amortization(1)
$141 $182 $419 $472 
(1) Depreciation consists of depreciation of property, plant, and equipment and amortization of integration and development costs capitalized in connection with cloud computing arrangements. Amortization relates to the amortization of intangible assets.