Attached files
| file | filename |
|---|---|
| 8-K - JOHNSON & JOHNSON | thirdqtreightk.htm |
| EX-99.15 OTH FIN ST - JOHNSON & JOHNSON | exhibit99153rdqtr2011.htm |
Exhibit 99.2O
|
Johnson & Johnson and Subsidiaries
|
||||||||||
|
Condensed Consolidated Statement of Earnings
|
||||||||||
|
|
|
|
|
|
||||||
|
(Unaudited; in Millions Except Per Share Figures)
|
THIRD QUARTER
|
|||||||||
|
2011
|
2010
|
Percent
|
||||||||
|
Percent
|
Percent
|
Increase
|
||||||||
|
Amount
|
to Sales
|
|
Amount
|
to Sales
|
(Decrease)
|
|||||
|
Sales to customers
|
$ 16,005
|
100.0
|
$ 14,982
|
100.0
|
6.8
|
|||||
|
Cost of products sold
|
5,072
|
31.7
|
4,594
|
30.7
|
10.4
|
|||||
|
Selling, marketing and administrative expenses
|
5,240
|
32.7
|
4,709
|
31.4
|
11.3
|
|||||
|
Research and development expense
|
1,773
|
11.1
|
1,657
|
11.1
|
7.0
|
|||||
|
Interest (income)expense, net
|
117
|
0.7
|
95
|
0.6
|
||||||
|
Other (income)expense, net
|
(308
|
) |
(1.9
|
) |
(292
|
) |
(2.0
|
) | ||
|
Earnings before provision for taxes on income
|
4,111
|
25.7
|
4,219
|
28.2
|
(2.6
|
) | ||||
|
Provision for taxes on income
|
909
|
5.7
|
802
|
5.4
|
13.3
|
|||||
|
Net earnings
|
$ 3,202
|
20.0
|
$ 3,417
|
22.8
|
(6.3
|
) | ||||
|
Net earnings per share (Diluted)
|
$ 1.15
|
$ 1.23
|
(6.5
|
) | ||||||
|
Average shares outstanding (Diluted)
|
2,778.2
|
2,786.4
|
||||||||
|
Effective tax rate
|
22.1
|
%
|
19.0
|
%
|
|
|||||
|
Adjusted earnings before provision for taxes and net earnings(A)
|
||||||||||
|
Earnings before provision for taxes on income
|
$ 4,427
|
(1)
|
27.7
|
$ 4,219
|
28.2
|
4.9
|
||||
|
Net earnings
|
$ 3,443
|
(1)
|
21.5
|
$ 3,417
|
22.8
|
0.8
|
||||
|
Net earnings per share (Diluted)
|
$ 1.24
|
(1)
|
$ 1.23
|
0.8
|
||||||
|
Effective tax rate
|
22.2
|
% |
19.0
|
% | ||||||
|
(1) The $316 million difference between as reported earnings and as adjusted earnings before provision for taxes on income is the exclusion of a mark-to-market adjustment associated with a currency option and deal costs related to the planned acquisition of Synthes. Net earnings and net earnings per share (diluted) on these items are $241 million and $0.09 per share, respectively.
|
||||||||||
|
Johnson & Johnson and Subsidiaries
|
||||||||||
|
Condensed Consolidated Statement of Earnings
|
||||||||||
|
|
||||||||||
|
(Unaudited; in Millions Except Per Share Figures)
|
NINE MONTHS
|
|||||||||
|
2011
|
2010
|
Percent
|
||||||||
|
Percent
|
Percent
|
Increase
|
||||||||
|
Amount
|
to Sales
|
|
Amount
|
to Sales
|
(Decrease)
|
|||||
|
Sales to customers
|
$ 48,775
|
100.0
|
$ 45,943
|
100.0
|
6.2
|
|||||
|
Cost of products sold
|
15,022
|
30.8
|
13,752
|
29.9
|
9.2
|
|||||
|
Selling, marketing and administrative expenses
|
15,511
|
31.8
|
14,244
|
31.0
|
8.9
|
|||||
|
Research and development expense
|
5,393
|
11.0
|
4,862
|
10.6
|
10.9
|
|||||
|
Interest (income)expense, net
|
332
|
0.7
|
234
|
0.5
|
||||||
|
Other (income)expense, net
|
(115
|
) |
(0.2
|
) |
(1,868
|
) |
(4.0
|
) | ||
|
Restructuring expense
|
589
|
1.2
|
-
|
-
|
||||||
|
Earnings before provision for taxes on income
|
12,043
|
24.7
|
14,719
|
32.0
|
(18.2
|
) | ||||
|
Provision for taxes on income
|
2,589
|
5.3
|
3,327
|
7.2
|
(22.2
|
) | ||||
|
Net earnings
|
$ 9,454
|
19.4
|
$ 11,392
|
24.8
|
(17.0
|
) | ||||
|
|
||||||||||
|
Net earnings per share (Diluted)
|
$ 3.40
|
$ 4.08
|
(16.7
|
) | ||||||
|
Average shares outstanding (Diluted)
|
2,777.6
|
2,792.0
|
||||||||
|
Effective tax rate
|
21.5
|
%
|
22.6
|
%
|
|
|||||
|
Adjusted earnings before provision for taxes and net earnings(A)
|
||||||||||
|
Earnings before provision for taxes on income
|
$ 13,696
|
(1)
|
28.1
|
$ 13,379
|
(2)
|
29.1
|
2.4
|
|||
|
Net earnings
|
$ 10,738
|
(1)
|
22.0
|
$ 10,415
|
(2)
|
22.7
|
3.1
|
|||
|
Net earnings per share (Diluted)
|
$ 3.87
|
(1)
|
$ 3.73
|
(2)
|
3.8
|
|||||
|
Effective tax rate
|
21.6
|
% |
22.2
|
% | ||||||
|
(1) The $1,653 million difference between as reported earnings and as adjusted earnings before provision for taxes on income is the exclusion of expense due to restructuring ($676 million, of which $589 million is reported as restructuring expense and $87 million is included in cost of products sold), expense due to litigation matters ($654 million), additional DePuy ASR™ Hip recall costs ($109 million) and a mark-to-market adjustment associated with a currency option and deal costs related to the planned acquisition of Synthes ($214 million). Net earnings and net earnings per share (diluted) on these items are $1,284 million and $0.47 per share, respectively.
|
||||||||||
|
(2) The difference between as reported earnings and as adjusted earnings before provision for taxes on income, net earnings and net earnings per share (diluted) is the exclusion of income from net litigation of $1,340 million, $977 million and $0.35 per share, respectively.
|
||||||||||
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, they may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as business development, strategic developments (including restructuring and product line changes), significant litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. These non-GAAP financial measures are presented solely to permit investors to more fully understand how management assesses the performance of the Company. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as the effects of an acquisition, merger-related or other restructuring charges, and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. See Reconciliation of Non-GAAP Measures.
|
Johnson & Johnson and Subsidiaries
|
|||||||||
|
Supplementary Sales Data
|
|||||||||
|
(Unaudited; Dollars in Millions)
|
THIRD QUARTER
|
||||||||
|
Percent Change
|
|||||||||
|
2011
|
2010
|
Total
|
Operations
|
Currency
|
|||||
|
Sales to customers by
|
|||||||||
|
segment of business
|
|||||||||
|
Consumer
|
|||||||||
|
U.S.
|
$ 1,219
|
1,277
|
(4.5
|
)%
|
(4.5
|
) |
-
|
||
|
International
|
2,521
|
2,290
|
10.1
|
3.3
|
6.8
|
||||
|
3,740
|
|
3,567
|
4.9
|
0.5
|
4.4
|
||||
|
Pharmaceutical
|
|||||||||
|
U.S.
|
2,869
|
3,054
|
(6.1
|
) |
(6.1
|
) |
-
|
||
|
International
|
3,113
|
2,441
|
27.5
|
18.5
|
9.0
|
||||
|
5,982
|
|
5,495
|
8.9
|
4.9
|
4.0
|
||||
|
Med Devices & Diagnostics
|
|||||||||
|
U.S.
|
2,780
|
|
2,800
|
(0.7
|
) |
(0.7
|
) |
-
|
|
|
International
|
3,503
|
3,120
|
12.3
|
3.9
|
8.4
|
||||
|
6,283
|
|
5,920
|
6.1
|
1.7
|
4.4
|
||||
|
U.S.
|
6,868
|
7,131
|
(3.7
|
) |
(3.7
|
) |
-
|
||
|
International
|
9,137
|
7,851
|
16.4
|
8.3
|
8.1
|
||||
|
Worldwide
|
$ 16,005
|
14,982
|
6.8
|
%
|
2.6
|
4.2
|
|||
|
Johnson & Johnson and Subsidiaries
|
|||||||||
|
Supplementary Sales Data
|
|||||||||
|
(Unaudited; Dollars in Millions)
|
NINE MONTHS
|
||||||||
|
Percent Change
|
|||||||||
|
2011
|
2010
|
Total
|
Operations
|
Currency
|
|||||
|
Sales to customers by
|
|||||||||
|
segment of business
|
|||||||||
|
Consumer
|
|||||||||
|
U.S.
|
$ 3,903
|
4,300
|
(9.2
|
)%
|
(9.2
|
) |
-
|
||
|
International
|
7,312
|
6,680
|
9.5
|
2.9
|
6.6
|
||||
|
11,215
|
|
10,980
|
2.1
|
(1.9
|
) |
4.0
|
|||
|
Pharmaceutical
|
|||||||||
|
U.S.
|
9,499
|
9,370
|
1.4
|
1.4
|
-
|
||||
|
International
|
8,775
|
7,316
|
19.9
|
12.1
|
7.8
|
||||
|
18,274
|
|
16,686
|
9.5
|
6.1
|
3.4
|
||||
|
Med Devices & Diagnostics
|
|||||||||
|
U.S.
|
8,521
|
|
8,551
|
(0.4
|
) |
(0.4
|
) |
-
|
|
|
International
|
10,765
|
9,726
|
10.7
|
3.0
|
7.7
|
||||
|
19,286
|
|
18,277
|
5.5
|
1.4
|
4.1
|
||||
|
U.S.
|
21,923
|
22,221
|
(1.3
|
) |
(1.3
|
) |
-
|
||
|
International
|
26,852
|
23,722
|
13.2
|
5.8
|
7.4
|
||||
|
Worldwide
|
$ 48,775
|
45,943
|
6.2
|
%
|
2.3
|
3.9
|
|||
|
Johnson & Johnson and Subsidiaries
|
|||||||||
|
Supplementary Sales Data
|
|||||||||
|
(Unaudited; Dollars in Millions)
|
THIRD QUARTER
|
||||||||
|
Percent Change
|
|||||||||
|
2011
|
2010
|
Total
|
Operations
|
Currency
|
|||||
|
Sales to customers by
|
|||||||||
|
geographic area
|
|||||||||
|
U.S.
|
$ 6,868
|
7,131
|
(3.7
|
)%
|
(3.7
|
) |
-
|
||
|
Europe
|
4,124
|
3,629
|
13.6
|
4.9
|
8.7
|
||||
|
Western Hemisphere excluding U.S.
|
1,751
|
1,424
|
23.0
|
17.1
|
5.9
|
||||
|
Asia-Pacific, Africa
|
3,262
|
2,798
|
16.6
|
8.1
|
8.5
|
||||
|
International
|
9,137
|
7,851
|
16.4
|
8.3
|
8.1
|
||||
|
|
|
|
|
|
|||||
|
Worldwide
|
$ 16,005
|
14,982
|
6.8
|
%
|
2.6
|
4.2
|
|||
|
Johnson & Johnson and Subsidiaries
|
|||||||||
|
Supplementary Sales Data
|
|||||||||
|
(Unaudited; Dollars in Millions)
|
NINE MONTHS
|
||||||||
|
Percent Change
|
|||||||||
|
2011
|
2010
|
Total
|
Operations
|
Currency
|
|||||
|
Sales to customers by
|
|||||||||
|
geographic area
|
|||||||||
|
U.S.
|
$ 21,923
|
22,221
|
(1.3
|
)%
|
(1.3
|
) |
-
|
||
|
Europe
|
12,850
|
11,563
|
11.1
|
4.0
|
7.1
|
||||
|
Western Hemisphere excluding U.S.
|
4,730
|
4,079
|
16.0
|
10.1
|
5.9
|
||||
|
Asia-Pacific, Africa
|
9,272
|
8,080
|
14.8
|
6.3
|
8.5
|
||||
|
International
|
26,852
|
23,722
|
13.2
|
5.8
|
7.4
|
||||
|
|
|
|
|
|
|||||
|
Worldwide
|
$ 48,775
|
45,943
|
6.2
|
%
|
2.3
|
3.9
|
|||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
THIRD QUARTER
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
CONSUMER SEGMENT (2)
|
||||||||||||||
|
BABY CARE
|
||||||||||||||
|
US
|
105
|
104
|
1.0%
|
1.0%
|
-
|
|||||||||
|
Intl
|
508
|
462
|
10.0%
|
4.8%
|
5.2%
|
|||||||||
|
WW
|
613
|
566
|
8.3%
|
4.1%
|
4.2%
|
|||||||||
|
ORAL CARE
|
||||||||||||||
|
US
|
162
|
164
|
(1.2%
|
) |
(1.2%
|
) |
-
|
|||||||
|
Intl
|
260
|
220
|
18.2%
|
11.1%
|
7.1%
|
|||||||||
|
WW
|
422
|
384
|
9.9%
|
5.8%
|
4.1%
|
|||||||||
|
OTC/NUTRITIONALS
|
||||||||||||||
|
US
|
332
|
438
|
(24.2%
|
) |
(24.2%
|
) |
-
|
|||||||
|
Intl
|
722
|
671
|
7.6%
|
0.3%
|
7.3%
|
|||||||||
|
WW
|
1,054
|
1,109
|
(5.0%
|
) |
(9.4%
|
) |
4.4%
|
|||||||
|
SKIN CARE
|
||||||||||||||
|
US
|
376
|
311
|
20.9%
|
20.9%
|
-
|
|||||||||
|
Intl
|
567
|
489
|
16.0%
|
8.4%
|
7.6%
|
|||||||||
|
WW
|
943
|
800
|
17.9%
|
13.2%
|
4.7%
|
|||||||||
|
WOMEN'S HEALTH
|
||||||||||||||
|
US
|
104
|
121
|
(14.0%
|
) |
(14.0%
|
) |
-
|
|||||||
|
Intl
|
354
|
338
|
4.7%
|
(1.6%
|
) |
6.3%
|
||||||||
|
WW
|
458
|
459
|
(0.2%
|
) |
(4.8%
|
) |
4.6%
|
|||||||
|
WOUND CARE/OTHER
|
||||||||||||||
|
US
|
140
|
139
|
0.7%
|
0.7%
|
-
|
|||||||||
|
Intl
|
110
|
110
|
0.0%
|
(8.2%
|
) |
8.2%
|
||||||||
|
WW
|
250
|
249
|
0.4%
|
(2.8%
|
) |
3.2%
|
||||||||
|
TOTAL CONSUMER
|
||||||||||||||
|
US
|
1,219
|
1,277
|
(4.5%
|
) |
(4.5%
|
) |
-
|
|||||||
|
Intl
|
2,521
|
2,290
|
10.1%
|
3.3%
|
6.8%
|
|||||||||
|
WW
|
3,740
|
3,567
|
4.9%
|
0.5%
|
4.4%
|
|||||||||
|
See footnotes at end of schedule
|
||||||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
THIRD QUARTER
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
PHARMACEUTICAL SEGMENT (2) (4)
|
||||||||||||||
|
ACIPHEX/PARIET
|
||||||||||||||
|
US
|
94
|
116
|
(19.0%
|
) |
(19.0%
|
) |
-
|
|||||||
|
Intl
|
141
|
124
|
13.7%
|
3.9%
|
9.8%
|
|||||||||
|
WW
|
235
|
240
|
(2.1%
|
) |
(7.2%
|
) |
5.1%
|
|||||||
|
|
|
|||||||||||||
|
CONCERTA/METHYLPHENIDATE
|
||||||||||||||
|
US
|
179
|
214
|
(16.4%
|
) |
(16.4%
|
) |
-
|
|||||||
|
Intl
|
104
|
85
|
22.4%
|
13.7%
|
8.7%
|
|||||||||
|
WW
|
283
|
299
|
(5.4%
|
) |
(7.9%
|
) |
2.5%
|
|||||||
|
DOXIL/CAELYX
|
||||||||||||||
|
US
|
10
|
75
|
(86.7%
|
) |
(86.7%
|
) |
-
|
|||||||
|
Intl
|
76
|
10
|
*
|
*
|
7.9%
|
|||||||||
|
WW
|
86
|
85
|
1.2%
|
(6.1%
|
) |
7.3%
|
||||||||
|
DURAGESIC/FENTANYL TRANSDERMAL
|
||||||||||||||
|
US
|
31
|
42
|
(26.2%
|
) |
(26.2%
|
) |
-
|
|||||||
|
Intl
|
124
|
142
|
(12.7%
|
) |
(20.1%
|
) |
7.4%
|
|||||||
|
WW
|
155
|
184
|
(15.8%
|
) |
(21.5%
|
) |
5.7%
|
|||||||
|
LEVAQUIN/FLOXIN
|
||||||||||||||
|
US
|
14
|
274
|
(94.9%
|
) |
(94.9%
|
) |
-
|
|||||||
|
Intl
|
11
|
12
|
(8.3%
|
) |
(10.7%
|
) |
2.4%
|
|||||||
|
WW
|
25
|
286
|
(91.3%
|
) |
(91.4%
|
) |
0.1%
|
|||||||
|
PREZISTA
|
||||||||||||||
|
US
|
132
|
102
|
29.4%
|
29.4%
|
-
|
|||||||||
|
Intl
|
184
|
128
|
43.8%
|
36.2%
|
7.6%
|
|||||||||
|
WW
|
316
|
230
|
37.4%
|
31.2%
|
6.2%
|
|||||||||
|
PROCRIT/EPREX
|
||||||||||||||
|
US
|
176
|
204
|
(13.7%
|
) |
(13.7%
|
) |
-
|
|||||||
|
Intl
|
207
|
202
|
2.5%
|
(5.4%
|
) |
7.9%
|
||||||||
|
WW
|
383
|
406
|
(5.7%
|
) |
(9.6%
|
) |
3.9%
|
|||||||
|
|
||||||||||||||
|
REMICADE
|
||||||||||||||
|
US
|
876
|
857
|
2.2%
|
2.2%
|
-
|
|||||||||
|
US Exports (3)
|
343
|
365
|
(6.0%
|
) |
(6.0%
|
) |
-
|
|||||||
|
Intl
|
189
|
7
|
*
|
*
|
6.3%
|
|||||||||
|
WW
|
1,408
|
1,229
|
14.6%
|
13.6%
|
1.0%
|
|||||||||
See footnotes at end of schedule
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
THIRD QUARTER
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
PHARMACEUTICAL SEGMENT (2) (4) (Continued)
|
||||||||||||||
|
RISPERDAL/RISPERIDONE
|
||||||||||||||
|
US
|
8
|
(2)
|
-
|
-
|
-
|
|||||||||
|
Intl
|
120
|
123
|
(2.4%
|
) |
(9.7%
|
) |
7.3%
|
|||||||
|
WW
|
128
|
121
|
5.8%
|
(1.7%
|
) |
7.5%
|
||||||||
|
|
||||||||||||||
|
RISPERDAL CONSTA
|
||||||||||||||
|
US
|
111
|
108
|
2.8%
|
2.8%
|
-
|
|||||||||
|
Intl
|
279
|
270
|
3.3%
|
(4.8%
|
) |
8.1%
|
||||||||
|
WW
|
390
|
378
|
3.2%
|
(2.6%
|
) |
5.8%
|
||||||||
|
|
||||||||||||||
|
TOPAMAX
|
||||||||||||||
|
US
|
45
|
46
|
(2.2%
|
) |
(2.2%
|
) |
-
|
|||||||
|
Intl
|
72
|
81
|
(11.1%
|
) |
(17.4%
|
) |
6.3%
|
|||||||
|
WW
|
117
|
127
|
(7.9%
|
) |
(11.9%
|
) |
4.0%
|
|||||||
|
|
||||||||||||||
|
VELCADE
|
||||||||||||||
|
US
|
-
|
-
|
-
|
-
|
-
|
|||||||||
|
Intl
|
295
|
246
|
19.9%
|
11.5%
|
8.4%
|
|||||||||
|
WW
|
295
|
246
|
19.9%
|
11.5%
|
8.4%
|
|||||||||
|
|
||||||||||||||
|
OTHER
|
||||||||||||||
|
US
|
850
|
653
|
30.2%
|
30.2%
|
-
|
|||||||||
|
Intl
|
1,311
|
1,011
|
29.7%
|
21.3%
|
8.4%
|
|||||||||
|
WW
|
2,161
|
1,664
|
29.9%
|
24.8%
|
5.1%
|
|||||||||
|
|
||||||||||||||
|
TOTAL PHARMACEUTICAL
|
||||||||||||||
|
US
|
2,869
|
3,054
|
(6.1%
|
) |
(6.1%
|
) |
-
|
|||||||
|
Intl
|
3,113
|
2,441
|
27.5%
|
18.5%
|
9.0%
|
|||||||||
|
WW
|
5,982
|
5,495
|
8.9%
|
4.9%
|
4.0%
|
|||||||||
|
See footnotes at end of schedule
|
||||||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
MAJOR NEW PHARMACEUTICAL PRODUCTS
(Included in Other)
|
|||||||||||
|
INTELENCE
|
|||||||||||
|
US
|
42
|
30
|
40.0%
|
||||||||
|
Intl
|
41
|
37
|
10.8%
|
||||||||
|
WW
|
83
|
67
|
23.9%
|
||||||||
|
INVEGA
|
|||||||||||
|
US
|
74
|
63
|
17.5%
|
||||||||
|
Intl
|
52
|
35
|
48.6%
|
||||||||
|
WW
|
126
|
98
|
28.6%
|
||||||||
|
SIMPONI
|
|||||||||||
|
US
|
59
|
51
|
15.7%
|
||||||||
|
Intl
|
70
|
9
|
*
|
||||||||
|
WW
|
129
|
60
|
*
|
||||||||
|
STELARA
|
|||||||||||
|
US
|
112
|
62
|
80.6%
|
||||||||
|
Intl
|
77
|
38
|
*
|
||||||||
|
WW
|
189
|
100
|
89.0%
|
||||||||
|
See footnotes at end of schedule
|
|||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
THIRD QUARTER
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
MEDICAL DEVICES AND DIAGNOSTICS (2)
|
||||||||||||||
|
CARDIOVASCULAR CARE (5)
|
||||||||||||||
|
US
|
198
|
246
|
(19.5%
|
) |
(19.5%
|
) |
-
|
|||||||
|
Intl
|
328
|
350
|
(6.3%
|
) |
(13.5%
|
) |
7.2%
|
|||||||
|
WW
|
526
|
596
|
(11.7%
|
) |
(15.9%
|
) |
4.2%
|
|||||||
|
DEPUY
|
||||||||||||||
|
US
|
737
|
748
|
(1.5%
|
) |
(1.5%
|
) |
-
|
|||||||
|
Intl
|
647
|
561
|
15.3%
|
6.0%
|
9.3%
|
|||||||||
|
WW
|
1,384
|
1,309
|
5.7%
|
1.7%
|
4.0%
|
|||||||||
|
DIABETES CARE
|
||||||||||||||
|
US
|
338
|
338
|
0.0%
|
0.0%
|
-
|
|||||||||
|
Intl
|
326
|
275
|
18.5%
|
9.8%
|
8.7%
|
|||||||||
|
WW
|
664
|
613
|
8.3%
|
4.4%
|
3.9%
|
|||||||||
|
ETHICON
|
||||||||||||||
|
US
|
519
|
480
|
8.1%
|
8.1%
|
-
|
|||||||||
|
Intl
|
668
|
592
|
12.8%
|
5.0%
|
7.8%
|
|||||||||
|
WW
|
1,187
|
1,072
|
10.7%
|
6.4%
|
4.3%
|
|||||||||
|
ETHICON ENDO-SURGERY
|
||||||||||||||
|
US
|
472
|
484
|
(2.5%
|
) |
(2.5%
|
) |
-
|
|||||||
|
Intl
|
759
|
653
|
16.2%
|
7.6%
|
8.6%
|
|||||||||
|
WW
|
1,231
|
1,137
|
8.3%
|
3.4%
|
4.9%
|
|||||||||
|
ORTHO-CLINICAL DIAGNOSTICS
|
||||||||||||||
|
US
|
265
|
263
|
0.8%
|
0.8%
|
-
|
|||||||||
|
Intl
|
274
|
235
|
16.6%
|
8.7%
|
7.9%
|
|||||||||
|
WW
|
539
|
498
|
8.2%
|
4.5%
|
3.7%
|
|||||||||
|
VISION CARE
|
||||||||||||||
|
US
|
251
|
241
|
4.1%
|
4.1%
|
-
|
|||||||||
|
Intl
|
501
|
454
|
10.4%
|
1.7%
|
8.7%
|
|||||||||
|
WW
|
752
|
695
|
8.2%
|
2.5%
|
5.7%
|
|||||||||
|
TOTAL MEDICAL DEVICES AND DIAGNOSTICS
|
||||||||||||||
|
US
|
2,780
|
2,800
|
(0.7%
|
) |
(0.7%
|
) |
-
|
|||||||
|
Intl
|
3,503
|
3,120
|
12.3%
|
3.9%
|
8.4%
|
|||||||||
|
WW
|
6,283
|
5,920
|
6.1%
|
1.7%
|
4.4%
|
|||||||||
| See footnotes at end of schedule | ||||||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
NINE MONTHS
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
CONSUMER SEGMENT (2)
|
|||||||||||||
|
BABY CARE
|
|||||||||||||
|
US
|
315
|
306
|
2.9%
|
2.9%
|
-
|
||||||||
|
Intl
|
1,457
|
1,326
|
9.9%
|
4.4%
|
5.5%
|
||||||||
|
WW
|
1,772
|
1,632
|
8.6%
|
4.1%
|
4.5%
|
||||||||
|
ORAL CARE
|
|||||||||||||
|
US
|
483
|
486
|
(0.6%
|
) |
(0.6%
|
) |
-
|
||||||
|
Intl
|
729
|
651
|
12.0%
|
4.8%
|
7.2%
|
||||||||
|
WW
|
1,212
|
1,137
|
6.6%
|
2.5%
|
4.1%
|
||||||||
|
OTC/NUTRITIONALS
|
|||||||||||||
|
US
|
1,059
|
1,472
|
(28.1%
|
) |
(28.1%
|
) |
-
|
||||||
|
Intl
|
2,207
|
1,985
|
11.2%
|
3.9%
|
7.3%
|
||||||||
|
WW
|
3,266
|
3,457
|
(5.5%
|
) |
(9.7%
|
) |
4.2%
|
||||||
|
SKIN CARE
|
|||||||||||||
|
US
|
1,251
|
1,185
|
5.6%
|
5.6%
|
-
|
||||||||
|
Intl
|
1,520
|
1,378
|
10.3%
|
3.7%
|
6.6%
|
||||||||
|
WW
|
2,771
|
2,563
|
8.1%
|
4.5%
|
3.6%
|
||||||||
|
WOMEN'S HEALTH
|
|||||||||||||
|
US
|
350
|
404
|
(13.4%
|
) |
(13.4%
|
) |
-
|
||||||
|
Intl
|
1,044
|
990
|
5.5%
|
(0.5%
|
) |
6.0%
|
|||||||
|
WW
|
1,394
|
1,394
|
0.0%
|
(4.3%
|
) |
4.3%
|
|||||||
|
WOUND CARE/OTHER
|
|||||||||||||
|
US
|
445
|
447
|
(0.4%
|
) |
(0.4%
|
) |
-
|
||||||
|
Intl
|
355
|
350
|
1.4%
|
(5.5%
|
) |
6.9%
|
|||||||
|
WW
|
800
|
797
|
0.4%
|
(2.7%
|
) |
3.1%
|
|||||||
|
TOTAL CONSUMER
|
|||||||||||||
|
US
|
3,903
|
4,300
|
(9.2%
|
) |
(9.2%
|
) |
-
|
||||||
|
Intl
|
7,312
|
6,680
|
9.5%
|
2.9%
|
6.6%
|
||||||||
|
WW
|
11,215
|
10,980
|
2.1%
|
(1.9%
|
) |
4.0%
|
|||||||
|
See footnotes at end of schedule
|
|||||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
NINE MONTHS
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
PHARMACEUTICAL SEGMENT (2) (4)
|
|||||||||||||
|
ACIPHEX/PARIET
|
|||||||||||||
|
US
|
304
|
356
|
(14.6%
|
) |
(14.6%
|
) |
-
|
||||||
|
Intl
|
417
|
398
|
4.8%
|
(2.8%
|
) |
7.6%
|
|||||||
|
WW
|
721
|
754
|
(4.4%
|
) |
(8.4%
|
) |
4.0%
|
||||||
|
|
|
||||||||||||
|
CONCERTA/METHYLPHENIDATE
|
|||||||||||||
|
US
|
667
|
668
|
(0.1%
|
) |
(0.1%
|
) |
-
|
||||||
|
Intl
|
327
|
283
|
15.5%
|
7.5%
|
8.0%
|
||||||||
|
WW
|
994
|
951
|
4.5%
|
2.1%
|
2.4%
|
||||||||
|
|
|
||||||||||||
|
DOXIL/CAELYX
|
|||||||||||||
|
US
|
130
|
225
|
(42.2%
|
) |
(42.2%
|
) |
-
|
||||||
|
Intl
|
233
|
28
|
*
|
*
|
7.3%
|
||||||||
|
WW
|
363
|
253
|
43.5%
|
36.8%
|
6.7%
|
||||||||
|
DURAGESIC/FENTANYL TRANSDERMAL
|
|||||||||||||
|
US
|
69
|
117
|
(41.0%
|
) |
(41.0%
|
) |
-
|
||||||
|
Intl
|
380
|
435
|
(12.6%
|
) |
(19.5%
|
) |
6.9%
|
||||||
|
WW
|
449
|
552
|
(18.7%
|
) |
(24.2%
|
) |
5.5%
|
||||||
|
LEVAQUIN/FLOXIN
|
|||||||||||||
|
US
|
585
|
926
|
(36.8%
|
) |
(36.8%
|
) |
-
|
||||||
|
Intl
|
33
|
31
|
6.5%
|
2.7%
|
3.8%
|
||||||||
|
WW
|
618
|
957
|
(35.4%
|
) |
(35.5%
|
) |
0.1%
|
||||||
|
PREZISTA
|
|||||||||||||
|
US
|
386
|
290
|
33.1%
|
33.1%
|
-
|
||||||||
|
Intl
|
509
|
331
|
53.8%
|
47.1%
|
6.7%
|
||||||||
|
WW
|
895
|
621
|
44.1%
|
38.7%
|
5.4%
|
||||||||
|
PROCRIT/EPREX
|
|||||||||||||
|
US
|
623
|
800
|
(22.1%
|
) |
(22.1%
|
) |
-
|
||||||
|
Intl
|
632
|
655
|
(3.5%
|
) |
(9.8%
|
) |
6.3%
|
||||||
|
WW
|
1,255
|
1,455
|
(13.7%
|
) |
(16.5%
|
) |
2.8%
|
||||||
|
|
|||||||||||||
|
REMICADE
|
|||||||||||||
|
US
|
2,500
|
2,420
|
3.3%
|
3.3%
|
-
|
||||||||
|
US Exports (3)
|
1,360
|
1,106
|
23.0%
|
23.0%
|
-
|
||||||||
|
Intl
|
204
|
19
|
*
|
*
|
6.9%
|
||||||||
|
WW
|
4,064
|
3,545
|
14.6%
|
14.2%
|
0.4%
|
||||||||
| See footnotes at end of schedule | |||||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
NINE MONTHS
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
PHARMACEUTICAL SEGMENT (2) (4) (Continued)
|
|||||||||||||
|
RISPERDAL/RISPERIDONE
|
|||||||||||||
|
US
|
27
|
(14)
|
-
|
-
|
-
|
||||||||
|
Intl
|
367
|
390
|
(5.9%
|
) |
(12.9%
|
) |
7.0%
|
||||||
|
WW
|
394
|
376
|
4.8%
|
(2.5%
|
) |
7.3%
|
|||||||
|
|
|
||||||||||||
|
RISPERDAL CONSTA
|
|||||||||||||
|
US
|
335
|
340
|
(1.5%
|
) |
(1.5%
|
) |
-
|
||||||
|
Intl
|
863
|
772
|
11.8%
|
4.1%
|
7.7%
|
||||||||
|
WW
|
1,198
|
1,112
|
7.7%
|
2.4%
|
5.3%
|
||||||||
|
|
|
||||||||||||
|
TOPAMAX
|
|||||||||||||
|
US
|
136
|
162
|
(16.0%
|
) |
(16.0%
|
) |
-
|
||||||
|
Intl
|
231
|
255
|
(9.4%
|
) |
(14.9%
|
) |
5.5%
|
||||||
|
WW
|
367
|
417
|
(12.0%
|
) |
(15.4%
|
) |
3.4%
|
||||||
|
|
|
||||||||||||
|
VELCADE
|
|||||||||||||
|
US
|
-
|
-
|
-
|
-
|
-
|
||||||||
|
Intl
|
922
|
793
|
16.3%
|
9.1%
|
7.2%
|
||||||||
|
WW
|
922
|
793
|
16.3%
|
9.1%
|
7.2%
|
||||||||
|
|
|
||||||||||||
|
OTHER
|
|||||||||||||
|
US
|
2,377
|
1,974
|
20.4%
|
20.4%
|
-
|
||||||||
|
Intl
|
3,657
|
2,926
|
25.0%
|
17.4%
|
7.6%
|
||||||||
|
WW
|
6,034
|
4,900
|
23.1%
|
18.5%
|
4.6%
|
||||||||
|
|
|
||||||||||||
|
TOTAL PHARMACEUTICAL
|
|||||||||||||
|
US
|
9,499
|
9,370
|
1.4%
|
1.4%
|
-
|
||||||||
|
Intl
|
8,775
|
7,316
|
19.9%
|
12.1%
|
7.8%
|
||||||||
|
WW
|
18,274
|
16,686
|
9.5%
|
6.1%
|
3.4%
|
||||||||
|
|
|
||||||||||||
|
See footnotes at end of schedule
|
|||||||||||||
|
INTELENCE
|
|||||||||||
|
US
|
118
|
93
|
26.9%
|
||||||||
|
Intl
|
113
|
85
|
32.9%
|
||||||||
|
WW
|
231
|
178
|
29.8%
|
||||||||
|
INVEGA
|
|||||||||||
|
US
|
219
|
200
|
9.5%
|
||||||||
|
Intl
|
155
|
108
|
43.5%
|
||||||||
|
WW
|
374
|
308
|
21.4%
|
||||||||
|
SIMPONI
|
|||||||||||
|
US
|
173
|
137
|
26.3%
|
||||||||
|
Intl
|
118
|
24
|
*
|
||||||||
|
WW
|
291
|
161
|
80.7%
|
||||||||
|
STELARA
|
|||||||||||
|
US
|
317
|
167
|
89.8%
|
||||||||
|
Intl
|
214
|
106
|
*
|
||||||||
|
WW
|
531
|
273
|
94.5%
|
||||||||
|
See footnotes at end of schedule
|
|||||||||||
|
JOHNSON & JOHNSON AND SUBSIDIARIES
SEGMENT SALES
|
|||||||||
|
(Dollars in Millions)
|
|
NINE MONTHS
|
||||||||||||||
|
% Change
|
||||||||||||||
|
2011
|
2010
|
Reported
|
Operational (1)
|
Currency
|
||||||||||
|
MEDICAL DEVICES AND DIAGNOSTICS (2)
|
|||||||||||||
|
CARDIOVASCULAR CARE (5)
|
|||||||||||||
|
US
|
650
|
762
|
(14.7%
|
) |
(14.7%
|
) |
-
|
||||||
|
Intl
|
1,098
|
1,161
|
(5.4%
|
) |
(11.9%
|
) |
6.5%
|
||||||
|
WW
|
1,748
|
1,923
|
(9.1%
|
) |
(13.1%
|
) |
4.0%
|
||||||
|
DEPUY
|
|||||||||||||
|
US
|
2,318
|
2,338
|
(0.9%
|
) |
(0.9%
|
) |
-
|
||||||
|
Intl
|
2,038
|
1,800
|
13.2%
|
4.7%
|
8.5%
|
||||||||
|
WW
|
4,356
|
4,138
|
5.3%
|
1.6%
|
3.7%
|
||||||||
|
DIABETES CARE
|
|||||||||||||
|
US
|
982
|
941
|
4.4%
|
4.4%
|
-
|
||||||||
|
Intl
|
1,000
|
885
|
13.0%
|
6.1%
|
6.9%
|
||||||||
|
WW
|
1,982
|
1,826
|
8.5%
|
5.2%
|
3.3%
|
||||||||
|
ETHICON
|
|||||||||||||
|
US
|
1,575
|
1,499
|
5.1%
|
5.1%
|
-
|
||||||||
|
Intl
|
2,062
|
1,852
|
11.3%
|
4.1%
|
7.2%
|
||||||||
|
WW
|
3,637
|
3,351
|
8.5%
|
4.5%
|
4.0%
|
||||||||
|
ETHICON ENDO-SURGERY
|
|||||||||||||
|
US
|
1,433
|
1,474
|
(2.8%
|
) |
(2.8%
|
) |
-
|
||||||
|
Intl
|
2,314
|
2,027
|
14.2%
|
6.4%
|
7.8%
|
||||||||
|
WW
|
3,747
|
3,501
|
7.0%
|
2.5%
|
4.5%
|
||||||||
|
ORTHO-CLINICAL DIAGNOSTICS
|
|||||||||||||
|
US
|
811
|
815
|
(0.5%
|
) |
(0.5%
|
) |
-
|
||||||
|
Intl
|
799
|
702
|
13.8%
|
6.4%
|
7.4%
|
||||||||
|
WW
|
1,610
|
1,517
|
6.1%
|
2.7%
|
3.4%
|
||||||||
|
VISION CARE
|
|||||||||||||
|
US
|
752
|
722
|
4.2%
|
4.2%
|
-
|
||||||||
|
Intl
|
1,454
|
1,299
|
11.9%
|
3.1%
|
8.8%
|
||||||||
|
WW
|
2,206
|
2,021
|
9.2%
|
3.6%
|
5.6%
|
||||||||
|
TOTAL MEDICAL DEVICES AND DIAGNOSTICS
|
|||||||||||||
|
US
|
8,521
|
8,551
|
(0.4%
|
) |
(0.4%
|
) |
-
|
||||||
|
Intl
|
10,765
|
9,726
|
10.7%
|
3.0%
|
7.7%
|
||||||||
|
WW
|
19,286
|
18,277
|
5.5%
|
1.4%
|
4.1%
|
||||||||
|
* Percentage greater than 100%
|
|||||||||||||
|
(1) Operational growth excludes the effect of currency
|
|||||||||||||
|
(2) Select areas (unaudited)
|
|||||||||||||
|
(3) Reported in U.S. sales
|
|||||||||||||
|
(4) Prior year amounts have been reclassified to conform to current year product disclosure
|
|||||||||||||
|
(5) Previously Cordis
|
|||||||||||||
|
Johnson & Johnson and Subsidiaries
|
|
||||||||||||||||
|
Reconciliation of Non-GAAP Measures
|
|||||||||||||||||
|
Third Quarter
|
% Incr. /
|
Nine Months YTD
|
% Incr. /
|
||||||||||||||
|
(Dollars in Millions Except Per Share Data)
|
2011
|
2010
|
(Decr.)
|
2011
|
2010
|
(Decr.)
|
|||||||||||
|
Earnings before provision for taxes on income - as reported
|
$ 4,111
|
4,219
|
(2.6
|
)%
|
$ 12,043
|
14,719
|
(18.2
|
)%
|
|||||||||
|
Restructuring - Cordis
|
-
|
-
|
676
|
-
|
|||||||||||||
|
Net Litigation Settlements Loss (Gain) & DePuy ASR™ Hip recall costs*
|
-
|
-
|
763
|
(1,340
|
) | ||||||||||||
|
Currency option adjustment and deal costs related to planned acquisition of Synthes
|
316
|
-
|
214
|
-
|
|||||||||||||
|
Earnings before provision for taxes on income - as adjusted
|
$ 4,427
|
4,219
|
4.9
|
%
|
$ 13,696
|
13,379
|
2.4
|
%
|
|||||||||
|
Net Earnings - as reported
|
$ 3,202
|
3,417
|
(6.3
|
)%
|
$ 9,454
|
11,392
|
(17.0
|
)%
|
|||||||||
|
Restructuring - Cordis
|
-
|
-
|
549
|
-
|
|||||||||||||
|
Net Litigation Settlements Loss (Gain) & DePuy ASR™ Hip recall costs*
|
-
|
-
|
596
|
(977
|
) | ||||||||||||
|
Currency option adjustment and deal costs related to planned acquisition of Synthes
|
241
|
-
|
139
|
-
|
|||||||||||||
|
Net Earnings - as adjusted
|
$ 3,443
|
3,417
|
0.8
|
%
|
$ 10,738
|
10,415
|
3.1
|
%
|
|||||||||
|
|
|
||||||||||||||||
|
Diluted Net earnings per share - as reported
|
$ 1.15
|
1.23
|
(6.5
|
)%
|
$ 3.40
|
4.08
|
(16.7
|
)%
|
|||||||||
|
Restructuring - Cordis
|
-
|
-
|
0.20
|
-
|
|||||||||||||
|
Net Litigation Settlements Loss (Gain) & DePuy ASR™ Hip recall costs*
|
-
|
-
|
0.22
|
(0.35
|
) | ||||||||||||
|
Currency option adjustment and deal costs related to planned acquisition of Synthes
|
0.09
|
-
|
0.05
|
-
|
|||||||||||||
|
Diluted Net earnings per share - as adjusted
|
$ 1.24
|
1.23
|
0.8
|
%
|
$ 3.87
|
3.73
|
3.8
|
%
|
|||||||||
|
*DePuy ASR™ Hip recall costs are in 2011 only.
|
|||||||||||||||||
|
The Company believes investors gain additional perspective of underlying business trends and results by providing a measure of earnings before provision for taxes on income, net earnings and diluted net earnings per share that excludes special items in order to evaluate ongoing business operations.
|
|||||||||||||||||