8-K
JOHNSON & JOHNSON (JNJ)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
January 24, 2023
Johnson & Johnson
(Exact name of registrant as specified in its charter)
| New Jersey | 1-3215 | 22-1024240 |
|---|---|---|
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
732-524-0400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, Par Value $1.00 | JNJ | New York Stock Exchange |
| 0.650% Notes Due May 2024 | JNJ24C | New York Stock Exchange |
| 5.50% Notes Due November 2024 | JNJ24BP | New York Stock Exchange |
| 1.150% Notes Due November 2028 | JNJ28 | New York Stock Exchange |
| 1.650% Notes Due May 2035 | JNJ35 | New York Stock Exchange |
Item 2.02 Results of Operations and Financial Condition
On January 24, 2023, Johnson & Johnson issued the attached press release announcing its sales and earnings for the fourth quarter and full year ended January 1, 2023.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description of Exhibit |
|---|---|
| 99.1 | Press Release datedJanuarya2022q4exhibit991.htm24, 2023for the period endedJanuarya2022q4exhibit991.htm1, 2023 |
| 99.2 | Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fourth quarter and full year |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Johnson & Johnson | |||
|---|---|---|---|
| (Registrant) | |||
| Date: | January 24, 2023 | By: | /s/ Robert J. Decker, Jr. |
| Robert J. Decker, Jr.<br>Controller<br>(Principal Accounting Officer) |
Document
Exhibit 99.1
JOHNSON & JOHNSON REPORTS 2022 FOURTH-QUARTER AND FULL YEAR RESULTS:
•2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
•2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*
•2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
•2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*
•Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*
New Brunswick, N.J. (January 24, 2023) – Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. “Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer. “I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value.”
OVERALL FINANCIAL RESULTS:
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Excludes intangible amortization expense and special items
Note: values may have been rounded
REGIONAL SALES RESULTS:
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
SEGMENT SALES RESULTS:
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on
operational changes
Note: Values may have been rounded
FULL YEAR 2022 SEGMENT COMMENTARY:
Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.
Consumer Health
Consumer Health worldwide adjusted operational sales increased 3.9%* predominately driven by over-the-counter (OTC) products. Major contributors to growth in OTC were TYLENOL and MOTRIN analgesics, as well as upper respiratory products and digestive health products in the international markets. Additionally, Skin Health/Beauty adjusted operational growth was primarily driven by NEUTROGENA outside the U.S. Growth was partially offset by Oral Care in the international markets.
Pharmaceutical
Pharmaceutical worldwide adjusted operational sales grew 6.8%*, driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. This growth was partially offset by declines in sales of REMICADE (infliximab), a biologic approved for the treatment of several immune-mediated inflammatory diseases, IMBRUVICA (ibrutinib), an oral, once daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, and ZYTIGA (abiratone acetate), an oral, once daily medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer.
MedTech
MedTech worldwide adjusted operational sales grew 6.1%*, driven primarily by electrophysiology products in Interventional Solutions, contact lenses in Vision, and wound closure products in General Surgery.
NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson’s other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the Company’s website at news releases, as well as
www.factsabouttalc.com, www.factsaboutourprescriptionopioids.com, and www.LTLManagementInformation.com.
| Regulatory | DePuy Synthes Receives FDA Clearance for TELIGEN System | Press Release | ||
|---|---|---|---|---|
| U.S. FDA Approves TECVAYLI (teclistamab-cqyv), the First Bispecific T-cell Engager Antibody for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma | Press Release | |||
| Janssen Submits Biologics License Application to U.S. FDA for Talquetamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma | Press Release | |||
| Data Release | New TREMFYA (guselkumab) Data Shows an Overall Clinical Response Rate of Approximately 80 Percent in a Phase 2b Induction Study of Adults with Moderately to Severely Active Ulcerative Colitis | Press Release | ||
| Janssen to Highlight Latest Scientific Advances in Hematologic Diseases at ASH 2022 with Clinical and Real-World Data Across Innovative Pipeline and Distinguished Portfolio | Press Release | |||
| Late-Breaking Data from Pivotal Phase 3 PRECISION Study Demonstrates Significant and Sustained Effect of Aprocitentan on Lowering Blood Pressure for Patients with Difficult-to-Control Hypertension | Press Release | |||
| New TREMFYA (guselkumab) Post-Hoc Analysis Reveals Active Psoriatic Arthritis Patients With Early Efficacy Had Meaningful Long-Term Improvement in Health-Related Quality of Life | Press Release | |||
| New TREMFYA (guselkumab) Post-Hoc Analysis Reveals Early Efficacy Predicted Longer-Term Efficacy And Sustained Achievement Among A Diverse Active Psoriatic Arthritis Patient Population | Press Release | |||
| CERENOVUS Reveals Positive Outcomes with Thrombectomy in Global Registry Studying Stroke-Inducing Blood Clots | Press Release | |||
| Other | Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board | Press Release | ||
| Johnson & Johnson Completes Acquisition of Abiomed | Press Release |
FULL-YEAR 2023 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
| ($ in Billions, except EPS) | January 2023 |
|---|---|
| Adjusted Operational Sales1,2,5<br><br>Change vs. Prior Year / Mid-point | 3.5% – 4.5% / 4.0% |
| Operational Sales2,5/ Mid-point2,5<br><br>Change vs. Prior Year / Mid-point | $96.9B – $97.9B / $97.4B<br><br>4.5% – 5.5% / 5.0% |
| Estimated Reported Sales3,5/ Mid-point3,5<br><br>Change vs. Prior Year / Mid-point | $96.9B – $97.9B / $97.4B<br><br>4.5% – 5.5% / 5.0% |
| Adjusted Operational EPS (Diluted)2,4/ Mid-point2,4<br><br>Change vs. Prior Year / Mid-point | $10.40 – $10.60 / $10.50<br><br>2.5% – 4.5% / 3.5% |
| Adjusted EPS (Diluted)3,4 / Mid-point3,4<br><br>Change vs. Prior Year / Mid-point | $10.45 – $10.65 / $10.55<br><br>3.0% – 5.0% / 4.0% |
1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2 Non-GAAP financial measure; excludes the impact of translational currency
3 Calculated using Euro Average Rate: January 2023 = $1.08 (Illustrative purposes only)
4 Non-GAAP financial measure; excludes intangible amortization expense and special items
5 Excludes COVID-19 Vaccine
Note: percentages may have been rounded
Other modeling considerations will be provided on the webcast.
WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the Company's website at events-and-presentations.
ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.
NON-GAAP FINANCIAL MEASURES:
* “Operational sales growth” excluding the impact of translational currency, “adjusted operational sales growth” excluding the net impact of acquisitions and divestitures and translational currency, as well as “adjusted net earnings”, “adjusted diluted earnings per share” and “adjusted operational diluted earnings per share” excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly-results.
Copies of the financial schedules accompanying this earnings release are available on the Company’s website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can also be found in the Investors section of the company's website at quarterly-results.
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy, and the anticipated separation of the Company’s Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company’s ability to satisfy the necessary conditions to consummate the separation of the Company’s Consumer Health business on a timely basis or at all; the Company’s ability to successfully separate the Company’s Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company’s ability to succeed as a standalone publicly traded company; and risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company’s ability to execute business continuity plans, as a result of the COVID-19 pandemic. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
| Press Contacts: | Investor Contacts: |
|---|---|
| Tesia Williams | Jessica Moore |
| media-relations@its.jnj.com | RA-JJCUS-InvestorRel@ITS.JNJ.com |
Document
Exhibit 99.2
| Johnson & Johnson and Subsidiaries | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | FOURTH QUARTER | ||||||||
| Percent Change | |||||||||
| 2022 | 2021 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| geographic area | |||||||||
| U.S. | $ | 12,516 | 12,163 | 2.9 | % | 2.9 | — | ||
| Europe | 5,816 | 6,925 | (16.0) | (6.3) | (9.7) | ||||
| Western Hemisphere excluding U.S. | 1,545 | 1,459 | 5.9 | 11.8 | (5.9) | ||||
| Asia-Pacific, Africa | 3,829 | 4,257 | (10.0) | 3.1 | (13.1) | ||||
| International | 11,190 | 12,641 | (11.5) | (1.1) | (10.4) | ||||
| Worldwide | $ | 23,706 | 24,804 | (4.4) | % | 0.9 | (5.3) | ||
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | ||
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | TWELVE MONTHS | ||||||||
| Percent Change | |||||||||
| 2022 | 2021 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| geographic area | |||||||||
| U.S. | $ | 48,580 | 47,156 | 3.0 | % | 3.0 | — | ||
| Europe | 23,449 | 23,594 | (0.6) | 11.0 | (11.6) | ||||
| Western Hemisphere excluding U.S. | 6,125 | 5,750 | 6.5 | 10.2 | (3.7) | ||||
| Asia-Pacific, Africa | 16,789 | 17,275 | (2.8) | 6.2 | (9.0) | ||||
| International | 46,363 | 46,619 | (0.6) | 9.1 | (9.7) | ||||
| Worldwide | $ | 94,943 | 93,775 | 1.3 | % | 6.1 | (4.8) | ||
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | ||
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | FOURTH QUARTER | ||||||||
| Percent Change | |||||||||
| 2022 | 2021 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| segment of business | |||||||||
| Consumer Health (1) | |||||||||
| U.S. | $ | 1,696 | 1,529 | 10.9 | % | 10.9 | — | ||
| International | 2,071 | 2,199 | (5.8) | 3.2 | (9.0) | ||||
| 3,767 | 3,728 | 1.0 | 6.4 | (5.4) | |||||
| Pharmaceutical (1) | |||||||||
| U.S. | 7,375 | 7,418 | (0.6) | (0.6) | — | ||||
| International | 5,788 | 6,799 | (14.9) | (4.5) | (10.4) | ||||
| 13,163 | 14,217 | (7.4) | (2.5) | (4.9) | |||||
| Pharmaceutical excluding COVID-19 Vaccine (1,3) | |||||||||
| U.S. | 7,375 | 7,205 | 2.4 | 2.4 | — | ||||
| International | 5,099 | 5,394 | (5.5) | 6.0 | (11.5) | ||||
| 12,474 | 12,599 | (1.0) | 3.9 | (4.9) | |||||
| MedTech (2) | |||||||||
| U.S. | 3,445 | 3,216 | 7.1 | 7.1 | — | ||||
| International | 3,331 | 3,643 | (8.6) | 2.9 | (11.5) | ||||
| 6,776 | 6,859 | (1.2) | 4.9 | (6.1) | |||||
| U.S. | 12,516 | 12,163 | 2.9 | 2.9 | — | ||||
| International | 11,190 | 12,641 | (11.5) | (1.1) | (10.4) | ||||
| Worldwide | 23,706 | 24,804 | (4.4) | 0.9 | (5.3) | ||||
| U.S. | 12,516 | 11,950 | 4.7 | 4.7 | — | ||||
| International | 10,501 | 11,236 | (6.5) | 4.4 | (10.9) | ||||
| Worldwide excluding COVID-19 Vaccine (3) | $ | 23,017 | 23,186 | (0.7) | % | 4.6 | (5.3) | ||
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. | |||||||||
| (1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes. | |||||||||
| (2) Previously referred to as Medical Devices. | |||||||||
| (3) Refer to supplemental sales reconciliation schedule. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | ||
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | TWELVE MONTHS | ||||||||
| Percent Change | |||||||||
| 2022 | 2021 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| segment of business | |||||||||
| Consumer Health (1) | |||||||||
| U.S. | $ | 6,599 | 6,516 | 1.3 | % | 1.3 | — | ||
| International | 8,354 | 8,519 | (1.9) | 5.3 | (7.2) | ||||
| 14,953 | 15,035 | (0.5) | 3.6 | (4.1) | |||||
| Pharmaceutical (1) | |||||||||
| U.S. | 28,604 | 27,954 | 2.3 | 2.3 | — | ||||
| International | 23,959 | 23,726 | 1.0 | 11.9 | (10.9) | ||||
| 52,563 | 51,680 | 1.7 | 6.7 | (5.0) | |||||
| Pharmaceutical excluding COVID-19 Vaccine (1,3) | |||||||||
| U.S. | 28,484 | 27,320 | 4.3 | 4.3 | — | ||||
| International | 21,900 | 21,975 | (0.3) | 10.3 | (10.6) | ||||
| 50,384 | 49,295 | 2.2 | 6.9 | (4.7) | |||||
| MedTech (2) | |||||||||
| U.S. | 13,377 | 12,686 | 5.4 | 5.4 | — | ||||
| International | 14,050 | 14,374 | (2.3) | 6.9 | (9.2) | ||||
| 27,427 | 27,060 | 1.4 | 6.2 | (4.8) | |||||
| U.S. | 48,580 | 47,156 | 3.0 | 3.0 | — | ||||
| International | 46,363 | 46,619 | (0.6) | 9.1 | (9.7) | ||||
| Worldwide | 94,943 | 93,775 | 1.3 | 6.1 | (4.8) | ||||
| U.S. | 48,460 | 46,522 | 4.2 | 4.2 | — | ||||
| International | 44,304 | 44,868 | (1.3) | 8.2 | (9.5) | ||||
| Worldwide excluding COVID-19 Vaccine (3) | $ | 92,764 | 91,390 | 1.5 | % | 6.2 | (4.7) | ||
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. | |||||||||
| (1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes. | |||||||||
| (2) Previously referred to as Medical Devices. | |||||||||
| (3) Refer to supplemental sales reconciliation schedule. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Condensed Consolidated Statement of Earnings | |||||||||
| (Unaudited; in Millions Except Per Share Figures) | FOURTH QUARTER | ||||||||
| 2022 | 2021 | Percent | |||||||
| Percent | Percent | Increase | |||||||
| Amount | to Sales | Amount | to Sales | (Decrease) | |||||
| Sales to customers | $ | 23,706 | 100.0 | $ | 24,804 | 100.0 | (4.4) | ||
| Cost of products sold | 7,765 | 32.8 | 7,955 | 32.1 | (2.4) | ||||
| Gross Profit | 15,941 | 67.2 | 16,849 | 67.9 | (5.4) | ||||
| Selling, marketing and administrative expenses | 6,512 | 27.4 | 7,154 | 28.9 | (9.0) | ||||
| Research and development expense | 3,841 | 16.2 | 4,720 | 19.0 | (18.6) | ||||
| In-process research and development | 173 | 0.7 | 0 | 0.0 | |||||
| Interest (income) expense, net | (77) | (0.3) | 47 | 0.2 | |||||
| Other (income) expense, net | 1,207 | 5.1 | 9 | 0.0 | |||||
| Restructuring | 84 | 0.4 | 83 | 0.3 | |||||
| Earnings before provision for taxes on income | 4,201 | 17.7 | 4,836 | 19.5 | (13.1) | ||||
| Provision for taxes on income | 681 | 2.9 | 100 | 0.4 | 581.0 | ||||
| Net earnings | $ | 3,520 | 14.8 | $ | 4,736 | 19.1 | (25.7) | ||
| Net earnings per share (Diluted) | $ | 1.33 | $ | 1.77 | (24.9) | ||||
| Average shares outstanding (Diluted) | 2,650.1 | 2,670.2 | |||||||
| Effective tax rate | 16.2 | % | 2.1 | % | |||||
| Adjusted earnings before provision for taxes and net earnings (1) (A) | |||||||||
| Earnings before provision for taxes on income | $ | 7,418 | 31.3 | $ | 6,339 | 25.6 | 17.0 | ||
| Net earnings | $ | 6,218 | 26.2 | $ | 5,678 | 22.9 | 9.5 | ||
| Net earnings per share (Diluted) | $ | 2.35 | $ | 2.13 | 10.3 | ||||
| Effective tax rate | 16.2 | % | 10.4 | % | |||||
| (1) See Reconciliation of Non-GAAP Financial Measures. | |||||||||
| (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, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, 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. 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 intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) 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. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Condensed Consolidated Statement of Earnings | |||||||||
| (Unaudited; in Millions Except Per Share Figures) | TWELVE MONTHS | ||||||||
| 2022 | 2021 | Percent | |||||||
| Percent | Percent | Increase | |||||||
| Amount | to Sales | Amount | to Sales | (Decrease) | |||||
| Sales to customers | $ | 94,943 | 100.0 | $ | 93,775 | 100.0 | 1.3 | ||
| Cost of products sold | 31,089 | 32.7 | 29,855 | 31.8 | 4.1 | ||||
| Gross Profit | 63,854 | 67.3 | 63,920 | 68.2 | (0.1) | ||||
| Selling, marketing and administrative expenses | 24,765 | 26.1 | 24,659 | 26.3 | 0.4 | ||||
| Research and development expense | 14,603 | 15.4 | 14,714 | 15.7 | (0.8) | ||||
| In-process research and development | 783 | 0.8 | 900 | 1.0 | |||||
| Interest (income) expense, net | (214) | (0.2) | 130 | 0.1 | |||||
| Other (income) expense, net | 1,871 | 2.0 | 489 | 0.5 | |||||
| Restructuring | 321 | 0.3 | 252 | 0.3 | |||||
| Earnings before provision for taxes on income | 21,725 | 22.9 | 22,776 | 24.3 | (4.6) | ||||
| Provision for taxes on income | 3,784 | 4.0 | 1,898 | 2.0 | 99.4 | ||||
| Net earnings | $ | 17,941 | 18.9 | $ | 20,878 | 22.3 | (14.1) | ||
| Net earnings per share (Diluted) | $ | 6.73 | $ | 7.81 | (13.8) | ||||
| Average shares outstanding (Diluted) | 2,663.9 | 2,674.0 | |||||||
| Effective tax rate | 17.4 | % | 8.3 | % | |||||
| Adjusted earnings before provision for taxes and net earnings (1) (A) | |||||||||
| Earnings before provision for taxes on income | $ | 31,880 | 33.6 | $ | 30,464 | 32.5 | 4.6 | ||
| Net earnings | $ | 27,038 | 28.5 | $ | 26,195 | 27.9 | 3.2 | ||
| Net earnings per share (Diluted) | $ | 10.15 | $ | 9.80 | 3.6 | ||||
| Effective tax rate | 15.2 | % | 14.0 | % | |||||
| (1) See Reconciliation of Non-GAAP Financial Measures. | |||||||||
| (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, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, 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. 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 intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) 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. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | ||||||
| Reconciliation of Non-GAAP Financial Measures | |||||||||
| Fourth Quarter | |||||||||
| (Dollars in Millions Except Per Share Data) | 2022 | 2021 | |||||||
| Net Earnings, after tax- as reported | 3,520 | 4,736 | |||||||
| Pre-tax Adjustments | |||||||||
| Intangible Asset Amortization expense | 1,061 | 1,121 | |||||||
| Litigation related | 262 | 274 | |||||||
| IPR&D | 173 | - | |||||||
| Restructuring related | 140 | 140 | |||||||
| Acquisition, integration and divestiture related ¹ | 196 | 26 | |||||||
| (Gains)/losses on securities | 6 | (198) | |||||||
| Medical Device Regulation 2 | 88 | 73 | |||||||
| COVID-19 Vaccine related costs 3 | 821 | - | |||||||
| Consumer Health separation costs | 470 | 67 | |||||||
| Tax Adjustments | |||||||||
| Tax impact on special item adjustments 4 | (507) | (184) | |||||||
| Consumer Health separation tax related costs | 35 | - | |||||||
| Tax legislation and other tax related | (47) | (377) | |||||||
| Adjusted Net Earnings, after tax | |||||||||
| Average shares outstanding (Diluted) | 2,650.1 | 2,670.2 | |||||||
| Adjusted net earnings per share (Diluted) | |||||||||
| Operational adjusted net earnings per share (Diluted) | |||||||||
| Notes: | |||||||||
| 1 | Acquisition, integration and divestiture related for 2022 primarily includes costs related to the Abiomed acquisition. | ||||||||
| 2 | European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024. | ||||||||
| 3 | COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all remaining customer contractual requirements. | ||||||||
| 4 | The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings. |
All values are in US Dollars.
| Johnson & Johnson and Subsidiaries | |||
|---|---|---|---|
| Reconciliation of Non-GAAP Financial Measures | |||
| Twelve Months Ended | |||
| (Dollars in Millions Except Per Share Data) | 2022 | 2021 | |
| Net Earnings, after tax- as reported | 17,941 | 20,878 | |
| Pre-tax Adjustments | |||
| Intangible Asset Amortization expense | 4,305 | 4,697 | |
| Litigation related | 866 | 2,328 | |
| IPR&D | 783 | 900 | |
| Restructuring related | 463 | 473 | |
| Acquisition, integration and divestiture related 1 | 196 | (478) | |
| (Gains)/losses on securities | 690 | (533) | |
| Medical Device Regulation 2 | 296 | 234 | |
| COVID-19 Vaccine related costs 3 | 1,474 | - | |
| Consumer Health separation costs | 1,089 | 67 | |
| Other | (7) | - | |
| Tax Adjustments | |||
| Tax impact on special item adjustments 4 | (1,592) | (1,281) | |
| Consumer Health separation tax related costs | 494 | - | |
| Tax legislation and other tax related | 40 | (1,090) | |
| Adjusted Net Earnings, after tax | 27,038 | 26,195 | |
| Average shares outstanding (Diluted) | 2,663.9 | 2,674.0 | |
| Adjusted net earnings per share (Diluted) | |||
| Operational adjusted net earnings per share (Diluted) | |||
| Notes: | |||
| 1 | Acquisition, integration and divestiture related for 2022 primarily includes costs related to the Abiomed acquisition. Acquisition, integration and divestiture related for 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S. | ||
| 2 | European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024. | ||
| 3 | COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all remaining customer contractual requirements. | ||
| 4 | The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings. |
All values are in US Dollars.
| Johnson & Johnson and Subsidiaries | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Reconciliation of Non-GAAP Financial Measure | |||||||||
| Adjusted Operational Sales Growth (A) | |||||||||
| FOURTH QUARTER 2022 ACTUAL vs. 2021 ACTUAL | |||||||||
| Segments | |||||||||
| Consumer Health | Pharmaceutical | MedTech | Total | ||||||
| WW As Reported | 1.0 | % | (7.4) | % | (1.2) | % | (4.4) | % | |
| U.S. | 10.9 | % | (0.6) | % | 7.1 | % | 2.9 | % | |
| International | (5.8) | % | (14.9) | % | (8.6) | % | (11.5) | % | |
| WW Currency | (5.4) | (4.9) | (6.1) | (5.3) | |||||
| U.S. | — | — | — | — | |||||
| International | (9.0) | (10.4) | (11.5) | (10.4) | |||||
| WW Operational | 6.4 | % | (2.5) | % | 4.9 | % | 0.9 | % | |
| U.S. | 10.9 | % | (0.6) | % | 7.1 | % | 2.9 | % | |
| International | 3.2 | % | (4.5) | % | 2.9 | % | (1.1) | % | |
| Interventional Solutions | |||||||||
| Abiomed | (0.5) | (0.1) | |||||||
| U.S. | (1.0) | (0.3) | |||||||
| International | 0.0 | 0.0 | |||||||
| All Other Acquisitions and Divestitures | 0.0 | 0.2 | 0.0 | 0.1 | |||||
| U.S. | 0.1 | 0.2 | (0.2) | 0.1 | |||||
| International | 0.0 | 0.1 | 0.1 | 0.1 | |||||
| WW Adjusted Operational | 6.4 | % | (2.3) | % | 4.4 | % | 0.8 | % | |
| U.S. | 11.0 | % | (0.4) | % | 5.9 | % | 2.7 | % | |
| International | 3.2 | % | (4.4) | % | 3.0 | % | (1.0) | % | |
| Note: Percentages are based on actual, non-rounded figures and may not sum | |||||||||
| (A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. 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. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| Reconciliation of Non-GAAP Financial Measure | |||||||||
| Adjusted Operational Sales Growth (A) | |||||||||
| TWELVE MONTHS 2022 ACTUAL vs. 2021 ACTUAL | |||||||||
| Segments | |||||||||
| Consumer Health | Pharmaceutical | MedTech | Total | ||||||
| WW As Reported | (0.5) | % | 1.7 | % | 1.4 | % | 1.3 | % | |
| U.S. | 1.3 | % | 2.3 | % | 5.4 | % | 3.0 | % | |
| International | (1.9) | % | 1.0 | % | (2.3) | % | (0.6) | % | |
| WW Currency | (4.1) | (5.0) | (4.8) | (4.8) | |||||
| U.S. | — | — | — | — | |||||
| International | (7.2) | (10.9) | (9.2) | (9.7) | |||||
| WW Operational | 3.6 | % | 6.7 | % | 6.2 | % | 6.1 | % | |
| U.S. | 1.3 | % | 2.3 | % | 5.4 | % | 3.0 | % | |
| International | 5.3 | % | 11.9 | % | 6.9 | % | 9.1 | % | |
| All Other Acquisitions and Divestitures | 0.3 | 0.1 | (0.1) | 0.1 | |||||
| U.S. | 0.2 | 0.2 | (0.4) | 0.0 | |||||
| International | 0.5 | 0.1 | 0.1 | 0.2 | |||||
| WW Adjusted Operational | 3.9 | % | 6.8 | % | 6.1 | % | 6.2 | % | |
| U.S. | 1.5 | % | 2.5 | % | 5.0 | % | 3.0 | % | |
| International | 5.8 | % | 12.0 | % | 7.0 | % | 9.3 | % | |
| Note: Percentages are based on actual, non-rounded figures and may not sum | |||||||||
| (A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. 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. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry. | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| CONSUMER HEALTH SEGMENT (2) (3) | |||||||||
| OTC | |||||||||
| US | $ | 754 | 633 | 18.9 | % | 18.9 | % | — | % |
| Intl | 815 | 811 | 0.6 | 9.6 | (9.0) | ||||
| WW | 1,569 | 1,444 | 8.6 | 13.7 | (5.1) | ||||
| SKIN HEALTH / BEAUTY | |||||||||
| US | 573 | 538 | 6.5 | 6.5 | — | ||||
| Intl | 515 | 546 | (5.6) | 4.4 | (10.0) | ||||
| WW | 1,088 | 1,084 | 0.4 | 5.4 | (5.0) | ||||
| ORAL CARE | |||||||||
| US | 164 | 159 | 3.3 | 3.3 | — | ||||
| Intl | 207 | 246 | (16.0) | (8.1) | (7.9) | ||||
| WW | 370 | 405 | (8.4) | (3.7) | (4.7) | ||||
| BABY CARE | |||||||||
| US | 93 | 90 | 3.4 | 3.4 | — | ||||
| Intl | 264 | 309 | (14.6) | (7.4) | (7.2) | ||||
| WW | 356 | 399 | (10.6) | (5.0) | (5.6) | ||||
| WOMEN'S HEALTH | |||||||||
| US | 4 | 4 | 15.6 | 15.6 | — | ||||
| Intl | 217 | 230 | (5.7) | 4.4 | (10.1) | ||||
| WW | 220 | 233 | (5.5) | 4.6 | (10.1) | ||||
| WOUND CARE / OTHER | |||||||||
| US | 109 | 106 | 3.3 | 3.3 | — | ||||
| Intl | 54 | 57 | (7.5) | 2.9 | (10.4) | ||||
| WW | 163 | 164 | (0.5) | 3.1 | (3.6) | ||||
| TOTAL CONSUMER HEALTH | |||||||||
| US | 1,696 | 1,529 | 10.9 | 10.9 | — | ||||
| Intl | 2,071 | 2,199 | (5.8) | 3.2 | (9.0) | ||||
| WW | $ | 3,767 | 3,728 | 1.0 | % | 6.4 | % | (5.4) | % |
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| PHARMACEUTICAL SEGMENT (2) (3) | |||||||||
| IMMUNOLOGY | |||||||||
| US | $ | 2,805 | 2,912 | (3.6) | % | (3.6) | % | — | % |
| Intl | 1,312 | 1,443 | (9.1) | 2.1 | (11.2) | ||||
| WW | 4,118 | 4,355 | (5.4) | (1.8) | (3.6) | ||||
| REMICADE | |||||||||
| US | 318 | 511 | (37.7) | (37.7) | — | ||||
| US Exports (4) | 41 | 39 | 5.1 | 5.1 | — | ||||
| Intl | 116 | 214 | (45.9) | (41.3) | (4.6) | ||||
| WW | 475 | 764 | (37.8) | (36.5) | (1.3) | ||||
| SIMPONI / SIMPONI ARIA | |||||||||
| US | 280 | 287 | (2.2) | (2.2) | — | ||||
| Intl | 220 | 271 | (18.6) | (7.4) | (11.2) | ||||
| WW | 501 | 559 | (10.2) | (4.7) | (5.5) | ||||
| STELARA | |||||||||
| US | 1,621 | 1,542 | 5.2 | 5.2 | — | ||||
| Intl | 764 | 792 | (3.5) | 8.1 | (11.6) | ||||
| WW | 2,386 | 2,334 | 2.3 | 6.2 | (3.9) | ||||
| TREMFYA | |||||||||
| US | 541 | 528 | 2.5 | 2.5 | — | ||||
| Intl | 211 | 165 | 27.5 | 44.5 | (17.0) | ||||
| WW | 752 | 693 | 8.5 | 12.5 | (4.0) | ||||
| OTHER IMMUNOLOGY | |||||||||
| US | 3 | 6 | (53.5) | (53.5) | — | ||||
| Intl | 0 | 0 | * | * | * | ||||
| WW | 3 | 6 | (53.3) | (53.3) | 0.0 | ||||
| INFECTIOUS DISEASES | |||||||||
| US | 414 | 614 | (32.6) | (32.6) | — | ||||
| Intl | 1,127 | 1,818 | (38.0) | (31.0) | (7.0) | ||||
| WW | 1,540 | 2,431 | (36.6) | (31.4) | (5.2) | ||||
| COVID-19 VACCINE | |||||||||
| US | 0 | 213 | * | * | — | ||||
| Intl | 689 | 1,405 | (50.9) | (45.0) | (5.9) | ||||
| WW | 689 | 1,619 | (57.4) | (52.2) | (5.2) | ||||
| EDURANT / rilpivirine | |||||||||
| US | 9 | 10 | 1.2 | 1.2 | — | ||||
| Intl | 281 | 220 | 27.6 | 39.2 | (11.6) | ||||
| WW | 290 | 230 | 26.5 | 37.6 | (11.1) | ||||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||
| US | 398 | 380 | 4.7 | 4.7 | — | ||||
| Intl | 95 | 135 | (29.5) | (20.5) | (9.0) | ||||
| WW | 493 | 515 | (4.3) | (1.9) | (2.4) | ||||
| OTHER INFECTIOUS DISEASES | |||||||||
| US | 6 | 11 | (47.1) | (47.1) | — | ||||
| Intl | 61 | 57 | 7.3 | 18.0 | (10.7) | ||||
| WW | 67 | 68 | (1.6) | 7.4 | (9.0) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | ||||
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| PHARMACEUTICAL SEGMENT (2) (3) (Continued) | |||||||||
| NOSCIENCE | |||||||||
| US | 912 | 899 | 1.4% | 1.4% | —% | ||||
| Intl | 825 | 890 | (7.2) | 3.3 | (10.5) | ||||
| WW | 1,737 | 1,789 | (2.8) | 2.4 | (5.2) | ||||
| CONCERTA / methylphenidate | |||||||||
| US | 37 | 55 | (34.3) | (34.3) | — | ||||
| Intl | 131 | 123 | 6.5 | 20.3 | (13.8) | ||||
| WW | 168 | 178 | (6.2) | 3.4 | (9.6) | ||||
| INVEGA SUSTENNA / XEPLION / INVEGA | |||||||||
| TRINZA / TREVICTA | |||||||||
| US | 678 | 668 | 1.8 | 1.8 | — | ||||
| Intl | 329 | 361 | (8.8) | 2.7 | (11.5) | ||||
| WW | 1,008 | 1,029 | (2.0) | 2.1 | (4.1) | ||||
| RISPERDAL CONSTA | |||||||||
| US | 62 | 77 | (19.4) | (19.4) | — | ||||
| Intl | 50 | 63 | (21.5) | (9.7) | (11.8) | ||||
| WW | 112 | 140 | (20.4) | (15.0) | (5.4) | ||||
| OTHER NOSCIENCE | |||||||||
| US | 134 | 99 | 35.5 | 35.5 | — | ||||
| Intl | 315 | 342 | (7.7) | 0.3 | (8.0) | ||||
| WW | 449 | 441 | 2.0 | 8.2 | (6.2) | ||||
| ONCOLOGY | |||||||||
| US | 1,857 | 1,594 | 16.5 | 16.5 | — | ||||
| Intl | 2,069 | 2,184 | (5.3) | 6.8 | (12.1) | ||||
| WW | 3,927 | 3,778 | 3.9 | 10.9 | (7.0) | ||||
| DARZALEX | |||||||||
| US | 1,139 | 867 | 31.4 | 31.4 | — | ||||
| Intl | 944 | 778 | 21.3 | 36.7 | (15.4) | ||||
| WW | 2,083 | 1,645 | 26.6 | 33.9 | (7.3) | ||||
| ERLEADA | |||||||||
| US | 275 | 235 | 17.2 | 17.2 | — | ||||
| Intl | 266 | 149 | 78.0 | 97.8 | (19.8) | ||||
| WW | 541 | 384 | 40.9 | 48.6 | (7.7) | ||||
| IMBRUVICA | |||||||||
| US | 318 | 436 | (27.0) | (27.0) | — | ||||
| Intl | 547 | 626 | (12.5) | (2.0) | (10.5) | ||||
| WW | 866 | 1,062 | (18.5) | (12.3) | (6.2) | ||||
| ZYTIGA / abiraterone acetate | |||||||||
| US | 20 | 23 | (14.3) | (14.3) | — | ||||
| Intl | 250 | 525 | (52.4) | (44.8) | (7.6) | ||||
| WW | 270 | 548 | (50.8) | (43.6) | (7.2) | ||||
| OTHER ONCOLOGY | |||||||||
| US | 106 | 34 | * | * | — | ||||
| Intl | 63 | 106 | (41.1) | (33.1) | (8.0) | ||||
| WW | 168 | 140 | 20.6 | 26.7 | (6.1) | ||||
| See footnotes at end of schedule |
All values are in Euros.
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| PHARMACEUTICAL SEGMENT (2) (3) (Continued) | |||||||||
| PULMONARY HYPERTENSION | |||||||||
| US | $ | 610 | 587 | 3.9 | % | 3.9 | % | — | % |
| Intl | 261 | 264 | (1.3) | 13.5 | (14.8) | ||||
| WW | 870 | 851 | 2.3 | 6.9 | (4.6) | ||||
| OPSUMIT | |||||||||
| US | 305 | 286 | 7.0 | 7.0 | — | ||||
| Intl | 156 | 162 | (3.7) | 11.0 | (14.7) | ||||
| WW | 461 | 448 | 3.1 | 8.4 | (5.3) | ||||
| UPTRAVI | |||||||||
| US | 280 | 264 | 6.3 | 6.3 | — | ||||
| Intl | 56 | 46 | 20.4 | 33.3 | (12.9) | ||||
| WW | 336 | 310 | 8.4 | 10.3 | (1.9) | ||||
| OTHER PULMONARY HYPERTENSION | |||||||||
| US | 24 | 38 | (35.5) | (35.5) | — | ||||
| Intl | 48 | 56 | (12.2) | 4.4 | (16.6) | ||||
| WW | 73 | 94 | (21.7) | (11.8) | (9.9) | ||||
| CARDIOVASCULAR / METABOLISM / OTHER | |||||||||
| US | 776 | 813 | (4.4) | (4.4) | — | ||||
| Intl | 194 | 200 | (3.4) | 5.7 | (9.1) | ||||
| WW | 971 | 1,013 | (4.2) | (2.4) | (1.8) | ||||
| XARELTO | |||||||||
| US | 667 | 644 | 3.4 | 3.4 | — | ||||
| Intl | — | — | — | — | — | ||||
| WW | 667 | 644 | 3.4 | 3.4 | — | ||||
| INVOKANA / INVOKAMET | |||||||||
| US | 29 | 59 | (51.3) | (51.3) | — | ||||
| Intl | 62 | 60 | 2.3 | 11.2 | (8.9) | ||||
| WW | 91 | 120 | (24.1) | (19.6) | (4.5) | ||||
| OTHER | |||||||||
| US | 81 | 110 | (25.7) | (25.7) | — | ||||
| Intl | 132 | 140 | (5.9) | 3.3 | (9.2) | ||||
| WW | 213 | 250 | (14.6) | (9.4) | (5.2) | ||||
| TOTAL PHARMACEUTICAL | |||||||||
| US | 7,375 | 7,418 | (0.6) | (0.6) | — | ||||
| Intl | 5,788 | 6,799 | (14.9) | (4.5) | (10.4) | ||||
| WW | $ | 13,163 | 14,217 | (7.4) | % | (2.5) | % | (4.9) | % |
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2) (3) (5) | |||||||||
| INTERVENTIONAL SOLUTIONS | |||||||||
| US | $ | 603 | 483 | 24.9 | % | 24.9 | % | — | % |
| Intl | 495 | 536 | (7.6) | 6.2 | (13.8) | ||||
| WW | 1,098 | 1,019 | 7.8 | 15.1 | (7.3) | ||||
| ORTHOPAEDICS | |||||||||
| US | 1,385 | 1,305 | 6.1 | 6.1 | — | ||||
| Intl | 763 | 851 | (10.4) | 0.8 | (11.2) | ||||
| WW | 2,148 | 2,155 | (0.4) | 4.0 | (4.4) | ||||
| HIPS | |||||||||
| US | 250 | 227 | 9.7 | 9.7 | — | ||||
| Intl | 135 | 151 | (10.4) | 0.4 | (10.8) | ||||
| WW | 385 | 378 | 1.7 | 6.0 | (4.3) | ||||
| KNEES | |||||||||
| US | 231 | 208 | 11.8 | 11.8 | — | ||||
| Intl | 122 | 135 | (9.5) | 1.2 | (10.7) | ||||
| WW | 354 | 342 | 3.4 | 7.6 | (4.2) | ||||
| TRAUMA | |||||||||
| US | 470 | 467 | 0.7 | 0.7 | — | ||||
| Intl | 240 | 261 | (7.9) | 3.5 | (11.4) | ||||
| WW | 710 | 728 | (2.4) | 1.7 | (4.1) | ||||
| SPINE, SPORTS & OTHER | |||||||||
| US | 434 | 403 | 7.5 | 7.5 | — | ||||
| Intl | 265 | 304 | (12.9) | (1.5) | (11.4) | ||||
| WW | 699 | 708 | (1.3) | 3.6 | (4.9) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2) (3) (5) (Continued) | |||||||||
| SURGERY | |||||||||
| US | $ | 1,000 | 986 | 1.5 | % | 1.5 | % | — | % |
| Intl | 1,383 | 1,527 | (9.4) | 1.4 | (10.8) | ||||
| WW | 2,384 | 2,513 | (5.1) | 1.4 | (6.5) | ||||
| ADVANCED | |||||||||
| US | 456 | 457 | (0.2) | (0.2) | — | ||||
| Intl | 653 | 735 | (11.1) | (0.4) | (10.7) | ||||
| WW | 1,109 | 1,192 | (7.0) | (0.3) | (6.7) | ||||
| GENERAL | |||||||||
| US | 544 | 528 | 3.1 | 3.1 | — | ||||
| Intl | 731 | 793 | (7.8) | 3.0 | (10.8) | ||||
| WW | 1,275 | 1,321 | (3.5) | 3.0 | (6.5) | ||||
| VISION | |||||||||
| US | 456 | 443 | 3.1 | 3.1 | — | ||||
| Intl | 689 | 728 | (5.4) | 5.9 | (11.3) | ||||
| WW | 1,145 | 1,171 | (2.2) | 4.8 | (7.0) | ||||
| CONTACT LENSES / OTHER | |||||||||
| US | 343 | 316 | 8.6 | 8.6 | — | ||||
| Intl | 489 | 518 | (5.6) | 7.2 | (12.8) | ||||
| WW | 831 | 833 | (0.2) | 7.7 | (7.9) | ||||
| SURGICAL | |||||||||
| US | 113 | 126 | (10.7) | (10.7) | — | ||||
| Intl | 200 | 211 | (5.0) | 2.9 | (7.9) | ||||
| WW | 314 | 338 | (7.1) | (2.2) | (4.9) | ||||
| TOTAL MEDTECH | |||||||||
| US | 3,445 | 3,216 | 7.1 | 7.1 | — | ||||
| Intl | 3,331 | 3,643 | (8.6) | 2.9 | (11.5) | ||||
| WW | $ | 6,776 | 6,859 | (1.2) | % | 4.9 | % | (6.1) | % |
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| CONSUMER HEALTH SEGMENT (2) (3) | |||||||||
| OTC | |||||||||
| US | $ | 2,782 | 2,594 | 7.3 | % | 7.3 | % | — | % |
| Intl | 3,249 | 3,034 | 7.1 | 14.5 | (7.4) | ||||
| WW | 6,031 | 5,627 | 7.2 | 11.2 | (4.0) | ||||
| SKIN HEALTH / BEAUTY | |||||||||
| US | 2,337 | 2,400 | (2.6) | (2.6) | — | ||||
| Intl | 2,015 | 2,141 | (5.9) | 2.2 | (8.1) | ||||
| WW | 4,352 | 4,541 | (4.2) | (0.4) | (3.8) | ||||
| ORAL CARE | |||||||||
| US | 635 | 637 | (0.3) | (0.3) | — | ||||
| Intl | 871 | 1,008 | (13.6) | (7.4) | (6.2) | ||||
| WW | 1,505 | 1,645 | (8.5) | (4.7) | (3.8) | ||||
| BABY CARE | |||||||||
| US | 357 | 378 | (5.5) | (5.5) | — | ||||
| Intl | 1,104 | 1,188 | (7.1) | (1.4) | (5.7) | ||||
| WW | 1,461 | 1,566 | (6.7) | (2.4) | (4.3) | ||||
| WOMEN'S HEALTH | |||||||||
| US | 13 | 13 | 1.7 | 1.7 | — | ||||
| Intl | 891 | 905 | (1.5) | 7.1 | (8.6) | ||||
| WW | 904 | 917 | (1.5) | 7.0 | (8.5) | ||||
| WOUND CARE / OTHER | |||||||||
| US | 475 | 495 | (4.0) | (4.0) | — | ||||
| Intl | 224 | 243 | (8.0) | (3.4) | (4.6) | ||||
| WW | 700 | 739 | (5.3) | (3.8) | (1.5) | ||||
| TOTAL CONSUMER HEALTH | |||||||||
| US | 6,599 | 6,516 | 1.3 | 1.3 | — | ||||
| Intl | 8,354 | 8,519 | (1.9) | 5.3 | (7.2) | ||||
| WW | $ | 14,953 | 15,035 | (0.5) | % | 3.6 | % | (4.1) | % |
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| PHARMACEUTICAL SEGMENT (2) (3) | |||||||||
| IMMUNOLOGY | |||||||||
| US | $ | 11,036 | 10,843 | 1.8 | % | 1.8 | % | — | % |
| Intl | 5,899 | 5,907 | (0.1) | 10.3 | (10.4) | ||||
| WW | 16,935 | 16,750 | 1.1 | 4.8 | (3.7) | ||||
| REMICADE | |||||||||
| US | 1,417 | 2,019 | (29.8) | (29.8) | — | ||||
| US Exports (4) | 204 | 236 | (13.6) | (13.6) | — | ||||
| Intl | 722 | 935 | (22.8) | (18.7) | (4.1) | ||||
| WW | 2,343 | 3,190 | (26.6) | (25.3) | (1.3) | ||||
| SIMPONI / SIMPONI ARIA | |||||||||
| US | 1,166 | 1,127 | 3.5 | 3.5 | — | ||||
| Intl | 1,017 | 1,148 | (11.4) | (1.4) | (10.0) | ||||
| WW | 2,184 | 2,276 | (4.0) | 1.0 | (5.0) | ||||
| STELARA | |||||||||
| US | 6,388 | 5,938 | 7.6 | 7.6 | — | ||||
| Intl | 3,335 | 3,196 | 4.4 | 15.7 | (11.3) | ||||
| WW | 9,723 | 9,134 | 6.5 | 10.4 | (3.9) | ||||
| TREMFYA | |||||||||
| US | 1,844 | 1,503 | 22.7 | 22.7 | — | ||||
| Intl | 824 | 624 | 32.0 | 47.8 | (15.8) | ||||
| WW | 2,668 | 2,127 | 25.4 | 30.1 | (4.7) | ||||
| OTHER IMMUNOLOGY | |||||||||
| US | 17 | 21 | (18.4) | (18.4) | — | ||||
| Intl | 0 | 3 | * | * | * | ||||
| WW | 17 | 24 | (28.2) | (28.2) | 0.0 | ||||
| INFECTIOUS DISEASES | |||||||||
| US | 1,680 | 2,249 | (25.3) | (25.3) | — | ||||
| Intl | 3,769 | 3,576 | 5.4 | 17.3 | (11.9) | ||||
| WW | 5,449 | 5,825 | (6.5) | 0.8 | (7.3) | ||||
| COVID-19 VACCINE | |||||||||
| US | 120 | 634 | (81.1) | (81.1) | — | ||||
| Intl | 2,059 | 1,751 | 17.6 | 32.1 | (14.5) | ||||
| WW | 2,179 | 2,385 | (8.6) | 2.0 | (10.6) | ||||
| EDURANT / rilpivirine | |||||||||
| US | 36 | 41 | (10.8) | (10.8) | — | ||||
| Intl | 972 | 953 | 2.0 | 12.7 | (10.7) | ||||
| WW | 1,008 | 994 | 1.5 | 11.8 | (10.3) | ||||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||
| US | 1,494 | 1,508 | (1.0) | (1.0) | — | ||||
| Intl | 449 | 575 | (21.9) | (13.4) | (8.5) | ||||
| WW | 1,943 | 2,083 | (6.7) | (4.4) | (2.3) | ||||
| OTHER INFECTIOUS DISEASES | |||||||||
| US | 30 | 66 | (55.5) | (55.5) | — | ||||
| Intl | 289 | 297 | (2.6) | 3.6 | (6.2) | ||||
| WW | 318 | 363 | (12.3) | (7.2) | (5.1) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| PHARMACEUTICAL SEGMENT (2) (3) (Continued) | |||||||||
| NOSCIENCE | |||||||||
| US | 3,570 | 3,347 | 6.7 | % | 6.7 | % | — | % | |
| Intl | 3,323 | 3,641 | (8.7) | 0.4 | (9.1) | ||||
| WW | 6,893 | 6,988 | (1.4) | 3.4 | (4.8) | ||||
| CONCERTA / methylphenidate | |||||||||
| US | 151 | 172 | (12.5) | (12.5) | — | ||||
| Intl | 493 | 495 | (0.4) | 9.9 | (10.3) | ||||
| WW | 644 | 667 | (3.5) | 4.1 | (7.6) | ||||
| INVEGA SUSTENNA / XEPLION / INVEGA | |||||||||
| TRINZA / TREVICTA | |||||||||
| US | 2,714 | 2,550 | 6.5 | 6.5 | — | ||||
| Intl | 1,426 | 1,472 | (3.1) | 7.8 | (10.9) | ||||
| WW | 4,140 | 4,022 | 3.0 | 6.9 | (3.9) | ||||
| RISPERDAL CONSTA | |||||||||
| US | 257 | 287 | (10.4) | (10.4) | — | ||||
| Intl | 228 | 305 | (25.3) | (15.5) | (9.8) | ||||
| WW | 485 | 592 | (18.1) | (13.0) | (5.1) | ||||
| OTHER NOSCIENCE | |||||||||
| US | 447 | 338 | 32.4 | 32.4 | — | ||||
| Intl | 1,176 | 1,368 | (14.1) | (7.5) | (6.6) | ||||
| WW | 1,623 | 1,706 | (4.9) | 0.4 | (5.3) | ||||
| ONCOLOGY | |||||||||
| US | 6,930 | 5,958 | 16.3 | 16.3 | — | ||||
| Intl | 9,052 | 8,590 | 5.4 | 17.3 | (11.9) | ||||
| WW | 15,983 | 14,548 | 9.9 | 16.9 | (7.0) | ||||
| DARZALEX | |||||||||
| US | 4,210 | 3,169 | 32.8 | 32.8 | — | ||||
| Intl | 3,767 | 2,854 | 32.0 | 47.0 | (15.0) | ||||
| WW | 7,977 | 6,023 | 32.4 | 39.5 | (7.1) | ||||
| ERLEADA | |||||||||
| US | 968 | 813 | 19.2 | 19.2 | — | ||||
| Intl | 913 | 478 | * | * | * | ||||
| WW | 1,881 | 1,291 | 45.7 | 53.0 | (7.3) | ||||
| IMBRUVICA | |||||||||
| US | 1,390 | 1,747 | (20.4) | (20.4) | — | ||||
| Intl | 2,394 | 2,622 | (8.7) | 1.0 | (9.7) | ||||
| WW | 3,784 | 4,369 | (13.4) | (7.6) | (5.8) | ||||
| ZYTIGA / abiraterone acetate | |||||||||
| US | 74 | 119 | (37.8) | (37.8) | — | ||||
| Intl | 1,696 | 2,178 | (22.1) | (12.3) | (9.8) | ||||
| WW | 1,770 | 2,297 | (22.9) | (13.6) | (9.3) | ||||
| OTHER ONCOLOGY | |||||||||
| US | 289 | 110 | * | * | — | ||||
| Intl | 283 | 458 | (38.3) | (31.6) | (6.7) | ||||
| WW | 571 | 568 | 0.6 | 6.0 | (5.4) | ||||
| See footnotes at end of schedule |
All values are in Euros.
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| PHARMACEUTICAL SEGMENT (2) (3) (Continued) | |||||||||
| PULMONARY HYPERTENSION | |||||||||
| US | $ | 2,346 | 2,365 | (0.8) | % | (0.8) | % | — | % |
| Intl | 1,071 | 1,085 | (1.3) | 11.2 | (12.5) | ||||
| WW | 3,417 | 3,450 | (1.0) | 3.0 | (4.0) | ||||
| OPSUMIT | |||||||||
| US | 1,132 | 1,147 | (1.3) | (1.3) | — | ||||
| Intl | 651 | 672 | (3.2) | 9.3 | (12.5) | ||||
| WW | 1,783 | 1,819 | (2.0) | 2.6 | (4.6) | ||||
| UPTRAVI | |||||||||
| US | 1,104 | 1,056 | 4.5 | 4.5 | — | ||||
| Intl | 218 | 181 | 20.4 | 32.4 | (12.0) | ||||
| WW | 1,322 | 1,237 | 6.9 | 8.6 | (1.7) | ||||
| OTHER PULMONARY HYPERTENSION | |||||||||
| US | 110 | 163 | (32.3) | (32.3) | — | ||||
| Intl | 202 | 232 | (12.8) | 0.3 | (13.1) | ||||
| WW | 313 | 395 | (20.8) | (13.1) | (7.7) | ||||
| CARDIOVASCULAR / METABOLISM / OTHER | |||||||||
| US | 3,042 | 3,192 | (4.7) | (4.7) | — | ||||
| Intl | 845 | 927 | (8.9) | (1.7) | (7.2) | ||||
| WW | 3,887 | 4,119 | (5.6) | (4.0) | (1.6) | ||||
| XARELTO | |||||||||
| US | 2,473 | 2,438 | 1.4 | 1.4 | — | ||||
| Intl | — | — | — | — | — | ||||
| WW | 2,473 | 2,438 | 1.4 | 1.4 | — | ||||
| INVOKANA / INVOKAMET | |||||||||
| US | 193 | 308 | (37.4) | (37.4) | — | ||||
| Intl | 255 | 254 | 0.1 | 7.3 | (7.2) | ||||
| WW | 448 | 563 | (20.4) | (17.2) | (3.2) | ||||
| OTHER | |||||||||
| US | 376 | 446 | (15.5) | (15.5) | — | ||||
| Intl | 590 | 673 | (12.3) | (5.1) | (7.2) | ||||
| WW | 966 | 1,119 | (13.6) | (9.3) | (4.3) | ||||
| TOTAL PHARMACEUTICAL | |||||||||
| US | 28,604 | 27,954 | 2.3 | 2.3 | — | ||||
| Intl | 23,959 | 23,726 | 1.0 | 11.9 | (10.9) | ||||
| WW | $ | 52,563 | 51,680 | 1.7 | % | 6.7 | % | (5.0) | % |
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2) (3) (5) | |||||||||
| INTERVENTIONAL SOLUTIONS | |||||||||
| US | $ | 2,169 | 1,836 | 18.2 | % | 18.2 | % | — | % |
| Intl | 2,131 | 2,135 | (0.2) | 9.9 | (10.1) | ||||
| WW | 4,300 | 3,971 | 8.3 | 13.7 | (5.4) | ||||
| ORTHOPAEDICS | |||||||||
| US | 5,321 | 5,126 | 3.8 | 3.8 | — | ||||
| Intl | 3,267 | 3,462 | (5.6) | 3.4 | (9.0) | ||||
| WW | 8,587 | 8,588 | 0.0 | 3.7 | (3.7) | ||||
| HIPS | |||||||||
| US | 943 | 878 | 7.3 | 7.3 | — | ||||
| Intl | 571 | 602 | (5.1) | 3.6 | (8.7) | ||||
| WW | 1,514 | 1,480 | 2.3 | 5.8 | (3.5) | ||||
| KNEES | |||||||||
| US | 851 | 787 | 8.2 | 8.2 | — | ||||
| Intl | 508 | 538 | (5.7) | 3.1 | (8.8) | ||||
| WW | 1,359 | 1,325 | 2.6 | 6.1 | (3.5) | ||||
| TRAUMA | |||||||||
| US | 1,882 | 1,819 | 3.5 | 3.5 | — | ||||
| Intl | 989 | 1,066 | (7.2) | 2.6 | (9.8) | ||||
| WW | 2,871 | 2,885 | (0.5) | 3.1 | (3.6) | ||||
| SPINE, SPORTS & OTHER | |||||||||
| US | 1,645 | 1,642 | 0.2 | 0.2 | — | ||||
| Intl | 1,198 | 1,256 | (4.6) | 4.3 | (8.9) | ||||
| WW | 2,843 | 2,898 | (1.9) | 1.9 | (3.8) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2022 | 2021 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2)(3)(5) (Continued) | |||||||||
| SURGERY | |||||||||
| US | $ | 3,897 | 3,867 | 0.8 | % | 0.8 | % | — | % |
| Intl | 5,793 | 5,945 | (2.6) | 5.7 | (8.3) | ||||
| WW | 9,690 | 9,812 | (1.2) | 3.8 | (5.0) | ||||
| ADVANCED | |||||||||
| US | 1,784 | 1,761 | 1.3 | 1.3 | — | ||||
| Intl | 2,785 | 2,861 | (2.6) | 5.3 | (7.9) | ||||
| WW | 4,569 | 4,622 | (1.1) | 3.8 | (4.9) | ||||
| GENERAL | |||||||||
| US | 2,113 | 2,105 | 0.4 | 0.4 | — | ||||
| Intl | 3,008 | 3,085 | (2.5) | 6.2 | (8.7) | ||||
| WW | 5,121 | 5,190 | (1.3) | 3.8 | (5.1) | ||||
| VISION | |||||||||
| US | 1,990 | 1,857 | 7.2 | 7.2 | — | ||||
| Intl | 2,859 | 2,831 | 1.0 | 11.1 | (10.1) | ||||
| WW | 4,849 | 4,688 | 3.4 | 9.5 | (6.1) | ||||
| CONTACT LENSES / OTHER | |||||||||
| US | 1,522 | 1,398 | 8.9 | 8.9 | — | ||||
| Intl | 2,022 | 2,043 | (1.0) | 10.1 | (11.1) | ||||
| WW | 3,543 | 3,440 | 3.0 | 9.6 | (6.6) | ||||
| SURGICAL | |||||||||
| US | 468 | 459 | 2.0 | 2.0 | — | ||||
| Intl | 837 | 788 | 6.2 | 13.7 | (7.5) | ||||
| WW | 1,306 | 1,248 | 4.6 | 9.4 | (4.8) | ||||
| TOTAL MEDTECH | |||||||||
| US | 13,377 | 12,686 | 5.4 | 5.4 | — | ||||
| Intl | 14,050 | 14,374 | (2.3) | 6.9 | (9.2) | ||||
| WW | $ | 27,427 | 27,060 | 1.4 | % | 6.2 | % | (4.8) | % |
| Note: Column and rows within tables may not add due to rounding. Percentages have been calculated using actual, non- | |||||||||
| rounded figures and, therefore, may not recalculate precisely. | |||||||||
| * Percentage greater than 100% or not meaningful | |||||||||
| (1) Operational growth excludes the effect of translational currency | |||||||||
| (2) Unaudited | |||||||||
| (3) Certain prior year amounts have been reclassified to conform to current year product disclosures | |||||||||
| (4) Reported as U.S. sales | |||||||||
| (5) Previously referred to as Medical Devices | |||||||||
| Supplemental Sales Reconciliation (Unaudited) | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| Percent Change | |||||||||
| 2022 | 2021 | Total | Operations | Currency | |||||
| Pharmaceutical | |||||||||
| U.S. | $ | 7,375 | 7,418 | (0.6) | % | (0.6) | - | ||
| International | 5,788 | 6,799 | (14.9) | (4.5) | (10.4) | ||||
| Worldwide | 13,163 | 14,217 | (7.4) | (2.5) | (4.9) | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | 0 | 213 | * | * | - | ||||
| International | 689 | 1,405 | (50.9) | (45.0) | (5.9) | ||||
| Worldwide | 689 | 1,619 | (57.4) | (52.2) | (5.2) | ||||
| Pharmaceutical excluding COVID-19 Vaccine | |||||||||
| U.S. | 7,375 | 7,205 | 2.4 | 2.4 | - | ||||
| International | 5,099 | 5,394 | (5.5) | 6.0 | (11.5) | ||||
| Worldwide | 12,474 | 12,599 | (1.0) | 3.9 | (4.9) | ||||
| Worldwide | |||||||||
| U.S. | 12,516 | 12,163 | 2.9 | 2.9 | - | ||||
| International | 11,190 | 12,641 | (11.5) | (1.1) | (10.4) | ||||
| Worldwide | 23,706 | 24,804 | (4.4) | 0.9 | (5.3) | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | 0 | 213 | * | * | - | ||||
| International | 689 | 1,405 | (50.9) | (45.0) | (5.9) | ||||
| Worldwide | 689 | 1,619 | (57.4) | (52.2) | (5.2) | ||||
| Worldwide | |||||||||
| U.S. | 12,516 | 11,950 | 4.7 | 4.7 | - | ||||
| International | 10,501 | 11,236 | (6.5) | 4.4 | (10.9) | ||||
| Worldwide excluding COVID-19 Vaccine | $ | 23,017 | 23,186 | (0.7) | % | 4.6 | (5.3) | ||
| Note: Columns and rows within tables may not add due to rounding | |||||||||
| * Percentage greater than 100% or not meaningful | |||||||||
| Supplemental Sales Reconciliation (Unaudited) | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| Percent Change | |||||||||
| 2022 | 2021 | Total | Operations | Currency | |||||
| Pharmaceutical | |||||||||
| U.S. | $ | 28,604 | 27,954 | 2.3 | % | 2.3 | - | ||
| International | 23,959 | 23,726 | 1.0 | 11.9 | (10.9) | ||||
| Worldwide | 52,563 | 51,680 | 1.7 | 6.7 | (5.0) | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | 120 | 634 | (81.1) | (81.1) | - | ||||
| International | 2,059 | 1,751 | 17.6 | 32.1 | (14.5) | ||||
| Worldwide | 2,179 | 2,385 | (8.6) | 2.0 | (10.6) | ||||
| Pharmaceutical excluding COVID-19 Vaccine | |||||||||
| U.S. | 28,484 | 27,320 | 4.3 | 4.3 | - | ||||
| International | 21,900 | 21,975 | (0.3) | 10.3 | (10.6) | ||||
| Worldwide | 50,384 | 49,295 | 2.2 | 6.9 | (4.7) | ||||
| Worldwide | |||||||||
| U.S. | 48,580 | 47,156 | 3.0 | 3.0 | - | ||||
| International | 46,363 | 46,619 | (0.6) | 9.1 | (9.7) | ||||
| Worldwide | 94,943 | 93,775 | 1.3 | 6.1 | (4.8) | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | 120 | 634 | (81.1) | (81.1) | - | ||||
| International | 2,059 | 1,751 | 17.6 | 32.1 | (14.5) | ||||
| Worldwide | 2,179 | 2,385 | (8.6) | 2.0 | (10.6) | ||||
| Worldwide | |||||||||
| U.S. | 48,460 | 46,522 | 4.2 | 4.2 | - | ||||
| International | 44,304 | 44,868 | (1.3) | 8.2 | (9.5) | ||||
| Worldwide excluding COVID-19 Vaccine | $ | 92,764 | 91,390 | 1.5 | % | 6.2 | (4.7) | ||
| Note: Columns and rows within tables may not add due to rounding | |||||||||
| * Percentage greater than 100% or not meaningful |