$KVUE

Kenvue Inc.

CIK:0001944048|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Income Statement [Abstract]
Net sales	$ 3,955	$ 3,839	$ 7,864	$ 7,580
Cost of sales	1,654	1,578	3,261	3,151
Gross profit	2,301	2,261	4,603	4,429
Selling, general, and administrative expenses	1,537	1,504	2,990	3,041
Restructuring expenses	59	60	130	120
Other operating expense, net	6	5	17	18
Operating income	699	692	1,466	1,250
Other expense, net	11	10	11	16
Interest expense, net	90	94	185	188
Income before taxes	598	588	1,270	1,046
Provision for taxes	142	168	340	304
Net income	$ 456	$ 420	$ 930	$ 742
Net income per share
Basic (in dollars per share)	$ 0.24	$ 0.22	$ 0.48	$ 0.39
Diluted (in dollars per share)	$ 0.24	$ 0.22	$ 0.48	$ 0.39
Weighted-average number of shares outstanding
Basic (in shares)	1,920	1,919	1,918	1,917
Diluted (in shares)	1,923	1,928	1,922	1,927

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Cash flows from operating activities
Net income	$ 930	$ 742
Adjustments to reconcile net income to cash flows from operating activities
Depreciation and amortization	288	278
Stock-based compensation	61	81
Deferred income taxes	18	(27)
Other	33	33
Net changes in assets and liabilities
Trade receivables	(108)	(51)
Inventories	(69)	(117)
Other current and non-current assets	(85)	112
Accounts payable and accrued liabilities	120	109
Employee-related obligations	5	(4)
Accrued taxes on income	(15)	(29)
Other liabilities	(1)	(78)
Net cash flows from operating activities	1,177	1,049
Cash flows used in investing activities
Purchases of property, plant, and equipment	(203)	(267)
Other investing activities	(42)	10
Net cash flows used in investing activities	(245)	(257)
Cash flows used in financing activities
Proceeds from (repayments of) commercial paper program, net of repayments (proceeds) and issuance costs	1,430	(25)
Repayments of commercial paper program—original maturities more than three months	(750)	0
Proceeds from issuance of Senior Notes, net of issuance costs	0	746
Repayment of Senior Notes	(750)	(750)
Dividends paid	(796)	(785)
Purchase of treasury stock	0	(127)
Other financing activities	(16)	83
Net cash flows used in financing activities	(882)	(858)
Effect of exchange rate changes on cash and cash equivalents	(2)	66
Cash and cash equivalents, beginning of period	1,062	1,070
Net increase in cash and cash equivalents	48	0
Cash and cash equivalents, end of period	$ 1,110	$ 1,070

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 28, 2026	Dec. 28, 2025
Current assets
Cash and cash equivalents	$ 1,110	$ 1,062
Trade receivables, less allowances for credit losses ($18 and $26 as of June 28, 2026 and December 28, 2025, respectively)	2,476	2,382
Inventories	1,722	1,666
Prepaid expenses and other receivables	450	432
Other current assets	141	155
Total current assets	5,899	5,697
Property, plant, and equipment, net	2,226	2,212
Intangible assets, net	8,406	8,694
Goodwill	9,265	9,509
Deferred taxes on income	247	237
Other assets	692	727
Total Assets	26,735	27,076
Current liabilities
Loans and notes payable	1,406	1,453
Accounts payable	2,577	2,473
Accrued liabilities	1,040	1,159
Accrued rebates, returns, and promotions	769	755
Accrued taxes on income	75	105
Total current liabilities	5,867	5,945
Total long-term debt	7,074	7,071
Deferred taxes on income	2,328	2,354
Employee-related obligations	341	340
Other liabilities	572	601
Liabilities, Total	16,182	16,311
Commitments and contingencies (Note 13)
Stockholders’ Equity
Preferred stock, $0.01 par value, 750,000 shares authorized; no shares issued and outstanding as of June 28, 2026 and December 28, 2025	0	0
Common stock, $0.01 par value, 12,500,000 shares authorized; 1,940,628 and 1,920,241 shares issued and outstanding as of June 28, 2026, respectively; 1,936,502 and 1,916,115 shares issued and outstanding as of December 28, 2025, respectively	19	19
Additional paid-in capital	16,397	16,348
Treasury stock, 20,387 and 20,387 shares at cost as of June 28, 2026 and December 28, 2025, respectively	(439)	(439)
Accumulated deficit	(70)	(204)
Accumulated other comprehensive loss	(5,354)	(4,959)
Total stockholders’ equity	10,553	10,765
Total Liabilities and Stockholders’ Equity	$ 26,735	$ 27,076