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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]      
Net income $ 1,470 $ 1,030 $ 1,664 [1]
Adjustments to reconcile net income to cash flows from operating activities      
Depreciation and amortization 557 622 627
Stock-based compensation 136 254 188
Deferred income taxes (108) (285) (114)
Impairment charges 23 578 0
Losses on investments 0 72 7
Other 67 69 (1)
Net changes in assets and liabilities      
Trade receivables (112) (218) 44
Inventories (12) 182 349
Other current and non-current assets 122 (17) (429)
Accounts payable and accrued liabilities 41 (536) 1,454
Employee-related obligations 43 27 (78)
Accrued taxes on income (27) (61) (331)
Other liabilities (3) 52 (212)
Net cash flows from operating activities 2,197 1,769 3,168
Cash flows used in investing activities      
Purchases of property, plant, and equipment (475) (434) (469)
Transfer of funds to J&J pursuant to the Facility Agreement 0 0 (8,941)
Proceeds from J&J upon repayment of the Facility Agreement 0 0 8,941
Proceeds from (costs associated with) sale of assets 24 (6) 21
Other investing activities 15 15 (40)
Net cash flows used in investing activities (436) (425) (488)
Cash flows used in financing activities      
(Repayments of) proceeds from commercial paper program, net of (proceeds) repayments and issuance costs (146) 157 574
Proceeds from issuance of Senior Notes, net of issuance costs 746 0 7,686
Proceeds from Kenvue IPO, net 0 0 4,241
Repayment of Senior Notes (750) 0 0
Distribution to J&J in connection with the Separation 0 0 (13,788)
Dividends paid (1,581) (1,552) (766)
Net transfers to J&J 0 0 (274)
Purchase of treasury stock (197) (235) (7)
Other financing activities 91 65 (193)
Net cash flows used in financing activities (1,837) (1,565) (2,527)
Effect of exchange rate changes on cash and cash equivalents 68 (91) (2)
Cash and cash equivalents, beginning of period 1,070 1,382 1,231
Net (decrease) increase in cash and cash equivalents (8) (312) 151
Cash and cash equivalents, end of period 1,062 1,070 1,382
Supplemental disclosures of cash flow information      
Net cash paid for income taxes [2],[3] 595 810 699
Cash paid for interest $ 440 $ 439 $ 224
[1] Prior to April 4, 2023, the Company operated as a segment of J&J and not as a separate entity. The Company’s financial statements prior to April 4, 2023 were prepared on a combined basis and were derived from J&J’s historical consolidated financial statements and accounting records as if the Company had been operated on a standalone basis. See Note 1, “Description of the Company and Summary of Significant Accounting Policies—Basis of Presentation,” for more information.
[2] Net cash paid includes payments to J&J under the Tax Matters Agreements (as defined in Note 12, “Relationship with J&J”) for income tax liabilities, which J&J has paid on the Company’s behalf post-Kenvue IPO to the tax authorities.
[3] See Note 14, “Income Taxes” for additional information on net cash paid for income taxes for the fiscal twelve months ended December 28, 2025 in accordance with ASU 2023-09 (as defined in Note 1, “Description of the Company and Summary of Significant Accounting Policies—Recently Adopted Accounting Standards”).