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 23, 2024
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 23, 2024, Johnson & Johnson issued the attached press release (Exhibit 99.1) announcing its sales and earnings for the fourth quarter and full year ended December 31, 2023.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description of Exhibit |
|---|---|
| 99.1 | Press Release dated January 23, 2024 for the period ended December 31, 2023 |
| 99.2 | Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fiscal fourth quarter andfull 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 23, 2024 | By: | /s/ Robert J. Decker, Jr. |
| Robert J. Decker, Jr.<br>Controller<br>(Principal Accounting Officer) |
Document
Exhibit 99.1
| Media contact:<br><br>Tesia Williams<br><br>media-relations@its.jnj.com | Investor contact:<br><br>Jessica Moore<br><br>investor-relations@its.jnj.com |
|---|
Johnson & Johnson Reports Q4 and Full-Year 2023 Results
•2023 Fourth-Quarter reported sales growth of 7.3% to $21.4 Billion with operational growth of 7.2%* and adjusted operational growth of 5.7%*. Operational growth excluding COVID-19 Vaccine of 10.9%*
•2023 Fourth-Quarter Earnings per share (EPS) of $1.70 increasing 39.3% and adjusted EPS of $2.29 increasing by 11.7%*
•2023 Full-Year reported sales growth of 6.5% to $85.2 Billion with operational growth of 7.4%* and adjusted operational growth of 5.9%*. Operational growth excluding COVID-19 Vaccine of 9.0%*
•2023 Full-Year EPS of $5.20 decreasing 15.3% due to a special one-time charge in the First-Quarter, and adjusted EPS of $9.92 increasing by 11.1%*
•Company re-confirms guidance for 2024 with operational sales5 growth of 5.0% - 6.0%* and adjusted operational EPS of $10.55 - $10.75, reflecting growth of 7.4%* at the mid-point
New Brunswick, N.J. (January 23, 2024) – Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2023. “Johnson & Johnson’s full year 2023 results reflect the breadth and competitiveness of our business and our relentless focus on delivering for patients,” said Joaquin Duato, Chairman and Chief Executive Officer. “We have entered 2024 from a position of strength, and I am confident in our ability to lead the next wave of health innovation.”
Unless otherwise noted, the financial results and earnings guidance included below reflect the continuing operations of Johnson & Johnson.
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
5 Excludes COVID-19 Vaccine
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
Note: The Innovative Medicine segment was previously referred to as the Pharmaceutical segment
Values may have been rounded
Full Year 2023 Segment Commentary:
Operational sales* reflected below excludes the impact of translational currency. Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.
Innovative Medicine
Innovative Medicine worldwide operational sales, excluding the COVID-19 Vaccine, grew 7.2%*. Growth was driven by DARZALEX (daratumumab), ERLEADA (apalutamide), TECVAYLI (teclistamab-cqyv) in Other Oncology, and CARVYKTI (ciltacabtagene autoleucel) in Oncology, STELARA (ustekinumab) and TREMFYA (guselkumab) in Immunology, and SPRAVATO (esketamine) in Neuroscience. Growth was partially offset by ZYTIGA (abiraterone acetate) and IMBRUVICA (ibrutinib) in Oncology, and REMICADE (infliximab) in Immunology. Including the COVID-19 Vaccine, Innovative Medicine worldwide operational sales grew 4.8%*.
MedTech
MedTech worldwide operational sales grew 12.4%*, with the acquisition of Abiomed contributing 4.7%. MedTech worldwide adjusted operational sales grew 7.8%*, driven primarily by electrophysiology products in Interventional Solutions, contact lenses in Vision, wound closure products in General Surgery, and biosurgery in Advanced Surgery.
Notable New Announcements in the Quarter:
The information contained in this section should be read together 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 and information available in the Investor Relations section of the company’s website at News Releases, as well as Innovative Medicine, MedTech, www.factsabouttalc.com, www.factsaboutourprescriptionopioids.com, and www.LLTManagementInformation.com.
| Regulatory | U.S. Food and Drug Administration Grants Full Approval for BALVERSA to Treat Locally<br><br>Advanced or Metastatic Bladder Cancer with Select Genetic Alterations1 | Press Release | ||
|---|---|---|---|---|
| Biosense Webster Announces Regulatory Approval of VARIPULSE Pulsed Field Ablation (PFA) Platform in Japan1 | Press Release | |||
| Janssen Submits Marketing Authorisation Application to the European Medicines Agency Seeking Approval of Lazertinib, in combination with RYBREVANT (amivantamab), for the First-Line Treatment of Patients with EGFR-Mutated Non-Small Cell Lung Cancer | Press Release | |||
| Johnson & Johnson Submits Supplemental Biologics License Application and New Drug Application to U.S. FDA Seeking Approval of RYBREVANT (amivantamab-vmjw) Plus Lazertinib for the Treatment of Patients with EGFR-Mutated Non-Small Cell Lung Cancer (NSCLC) | Press Release | |||
| Johnson & Johnson’s Investigational TAR-200 Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of High-Risk Non-Muscle-Invasive Bladder Cancer | Press Release | |||
| Janssen Submits Application to the European Medicines Agency for RYBREVANT (amivantamab) in Combination with Chemotherapy for the Treatment of Adult Patients with Advanced EGFR-Mutated Non-Small Cell Lung Cancer After Failure of Prior Therapy | Press Release | |||
| Janssen Submits Supplemental Biologics License Application to U.S. FDA Seeking Approval of RYBREVANT (amivantamab-vmjw) Plus Chemotherapy for the Treatment of Patients with EGFR-Mutated Non-Small Cell Lung Cancer Who Progressed on or after Osimertinib | Press Release | |||
| MONARCH Platform for Bronchoscopy Receives Regulatory License for China | Press Release | |||
| Data Release | Johnson & Johnson highlights its preeminent leadership in hematology through differentiated blood cancer portfolio and pipeline with new clinical and real-world data at ASH | Press Release | ||
| New Real-World Data Show TREMFYA (guselkumab) Was Associated With Clinically Meaningful Improvements in Patient-Reported Outcomes for Adults Living With Active Psoriatic Arthritis | Press Release | |||
| Phase 2 Nipocalimab Data Establish Proof of Mechanism in Adults Living with Moderate to Severe Rheumatoid Arthritis, Supporting its Progression into a Combination Study | Press Release | |||
| New Biosense Webster QDOT MICRO Catheter Data Demonstrate Very High-Power, Short-Duration Ablations Improved Quality of Life and Reduced Healthcare Utilization for AFib Patients | Press Release | |||
| New Phase 3 TREMFYA (guselkumab) Results in Ulcerative Colitis Show a 77 Percent Overall Clinical Response Rate and Early Symptom Improvement | Press Release | |||
| Janssen Aims to Define New Standards of Care in the Treatment of Solid Tumor Cancers with Transformative Data Planned for Presentation at ESMO | Press Release | |||
| Product Launch | Ethicon Introduces ETHIZIA Hemostatic Sealing Patch, Clinically Proven to Stop Disruptive Bleeding | Press Release | ||
| --- | --- | --- | --- | --- |
| Other | Johnson & Johnson to Acquire Ambrx, Advancing Next Generation Antibody Drug Conjugates to Transform the Treatment of Cancer1 | Press Release | ||
| Johnson & Johnson Announces Key Drivers for Long-Term Competitive Growth at Enterprise Business Review | Press Release | |||
| Johnson & Johnson Names Eugene A. Woods, Chief Executive Officer of Advocate Health, to its Board of Directors | Press Release | |||
| Johnson & Johnson MedTech Acquires Laminar, Inc. | Press Release | |||
| Johnson & Johnson MedTech Provides Details and Timeline for General Surgery Robot | Press Release | |||
| Johnson & Johnson Announces Departure of Ashley McEvoy, Tim Schmid Named Executive Vice President, Worldwide Chairman of MedTech | Press Release |
1 Subsequent to the quarter
Full-Year 2024 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 2024 |
|---|---|
| Adjusted Operational Sales1,2,5<br><br>Change vs. Prior Year / Mid-point | 5.0% – 6.0% / 5.5% |
| Operational Sales2,5/ Mid-point<br><br>Change vs. Prior Year / Mid-point | 88.2B – 89.0B / 88.6B5.0% – 6.0% / 5.5% |
| Estimated Reported Sales3,5/ Mid-point<br><br>Change vs. Prior Year / Mid-point | 87.8B – 88.6B / 88.2B4.5% – 5.5% / 5.0% |
| Adjusted Operational EPS (Diluted)2,4/ Mid-point<br><br>Change vs. Prior Year / Mid-point | 10.55 – 10.75 / 10.656.4% – 8.4% / 7.4% |
| Adjusted EPS (Diluted)3,4 / Mid-point<br><br>Change vs. Prior Year / Mid-point | 10.55 – 10.75 / 10.656.4% – 8.4% / 7.4% |
| Average Shares Outstanding (Diluted)6 | ~2,435 million |
All values are in US Dollars.
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 2024 = $1.09 and December 2023 = $1.09 (Illustrative purposes only)
4 Non-GAAP financial measure; excludes intangible amortization expense and special items
5 Excludes COVID-19 Vaccine
6 Full Year 2024 Projected Average Shares Outstanding (Diluted) reflects impact from the Kenvue exchange offer
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 Investor Relations section of the company's website at events-and-presentations.
About Johnson & Johnson:
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at https://www.jnj.com/.
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 Investor Relations 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, an Innovative Medicine pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can also be found in the Investor Relations 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, and market position and business strategy. 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, including restructuring 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 realize the anticipated benefits from the separation of the Company’s Consumer Health business; and the New Consumer Health Company’s ability to succeed as a standalone publicly traded company. 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 1, 2023, 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.
Document
Exhibit 99.2
| Johnson & Johnson and Subsidiaries | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | FOURTH QUARTER | ||||||||
| Percent Change | |||||||||
| 2023 | 2022 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| geographic area | |||||||||
| U.S. | $ | 12,009 | 10,820 | 11.0 | % | 11.0 | — | ||
| Europe | 4,962 | 5,124 | (3.2) | (5.8) | 2.6 | ||||
| Western Hemisphere excluding U.S. | 1,166 | 1,024 | 14.0 | 18.1 | (4.1) | ||||
| Asia-Pacific, Africa | 3,258 | 2,971 | 9.7 | 12.1 | (2.4) | ||||
| International | 9,386 | 9,119 | 2.9 | 2.7 | 0.2 | ||||
| Worldwide | $ | 21,395 | 19,939 | 7.3 | % | 7.2 | 0.1 | ||
| 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 | |||||||||
| 2023 | 2022 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| geographic area | |||||||||
| U.S. | $ | 46,444 | 41,981 | 10.6 | % | 10.6 | — | ||
| Europe | 20,410 | 20,664 | (1.2) | (2.2) | 1.0 | ||||
| Western Hemisphere excluding U.S. | 4,549 | 4,108 | 10.7 | 15.8 | (5.1) | ||||
| Asia-Pacific, Africa | 13,756 | 13,237 | 3.9 | 9.5 | (5.6) | ||||
| International | 38,715 | 38,009 | 1.9 | 3.8 | (1.9) | ||||
| Worldwide | $ | 85,159 | 79,990 | 6.5 | % | 7.4 | (0.9) | ||
| 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 | |||||||||
| 2023 | 2022 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| segment of business | |||||||||
| Innovative Medicine (1,2) | |||||||||
| U.S. | $ | 8,079 | 7,375 | 9.5 | % | 9.5 | — | ||
| International | 5,643 | 5,788 | (2.5) | (3.1) | 0.6 | ||||
| 13,722 | 13,163 | 4.2 | 4.0 | 0.2 | |||||
| Innovative Medicine excluding COVID-19 Vaccine (1,2) | |||||||||
| U.S. | 8,079 | 7,375 | 9.5 | 9.5 | — | ||||
| International | 5,599 | 5,099 | 9.8 | 9.4 | 0.4 | ||||
| 13,678 | 12,474 | 9.7 | 9.5 | 0.2 | |||||
| MedTech | |||||||||
| U.S. | 3,930 | 3,445 | 14.1 | 14.1 | — | ||||
| International | 3,743 | 3,331 | 12.4 | 12.8 | (0.4) | ||||
| 7,673 | 6,776 | 13.3 | 13.4 | (0.1) | |||||
| U.S. | 12,009 | 10,820 | 11.0 | 11.0 | — | ||||
| International | 9,386 | 9,119 | 2.9 | 2.7 | 0.2 | ||||
| Worldwide | 21,395 | 19,939 | 7.3 | 7.2 | 0.1 | ||||
| U.S. | 12,009 | 10,820 | 11.0 | 11.0 | — | ||||
| International | 9,342 | 8,430 | 10.8 | 10.7 | 0.1 | ||||
| Worldwide excluding COVID-19 Vaccine (1) | $ | 21,351 | 19,250 | 10.9 | % | 10.9 | 0.0 | ||
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. | |||||||||
| (1) Refer to supplemental sales reconciliation schedule. | |||||||||
| (2) Previously referred to as Pharmaceutical. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | ||
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | TWELVE MONTHS | ||||||||
| Percent Change | |||||||||
| 2023 | 2022 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| segment of business | |||||||||
| Innovative Medicine (1,2) | |||||||||
| U.S. | $ | 31,169 | 28,604 | 9.0 | % | 9.0 | — | ||
| International | 23,590 | 23,959 | (1.5) | (0.2) | (1.3) | ||||
| 54,759 | 52,563 | 4.2 | 4.8 | (0.6) | |||||
| Innovative Medicine excluding COVID-19 Vaccine (1,2) | |||||||||
| U.S. | 31,169 | 28,484 | 9.4 | 9.4 | — | ||||
| International | 22,473 | 21,900 | 2.6 | 4.3 | (1.7) | ||||
| 53,642 | 50,384 | 6.5 | 7.2 | (0.7) | |||||
| MedTech | |||||||||
| U.S. | 15,275 | 13,377 | 14.2 | 14.2 | — | ||||
| International | 15,125 | 14,050 | 7.7 | 10.6 | (2.9) | ||||
| 30,400 | 27,427 | 10.8 | 12.4 | (1.6) | |||||
| U.S. | 46,444 | 41,981 | 10.6 | 10.6 | — | ||||
| International | 38,715 | 38,009 | 1.9 | 3.8 | (1.9) | ||||
| Worldwide | 85,159 | 79,990 | 6.5 | 7.4 | (0.9) | ||||
| U.S. | 46,444 | 41,861 | 10.9 | 10.9 | — | ||||
| International | 37,598 | 35,950 | 4.6 | 6.7 | (2.1) | ||||
| Worldwide excluding COVID-19 Vaccine (1) | $ | 84,042 | 77,811 | 8.0 | % | 9.0 | (1.0) | ||
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. | |||||||||
| (1) Refer to supplemental sales reconciliation schedule. | |||||||||
| (2) Previously referred to as Pharmaceutical. | |||||||||
| Johnson & Johnson and Subsidiaries | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Condensed Consolidated Statement of Earnings | |||||||||
| (Unaudited; in Millions Except Per Share Figures) | FOURTH QUARTER | ||||||||
| 2023 | 2022 | Percent | |||||||
| Percent | Percent | Increase | |||||||
| Amount | to Sales | Amount | to Sales | (Decrease) | |||||
| Sales to customers | $ | 21,395 | 100.0 | $ | 19,939 | 100.0 | 7.3 | ||
| Cost of products sold | 6,798 | 31.8 | 6,084 | 30.5 | 11.7 | ||||
| Gross Profit | 14,597 | 68.2 | 13,855 | 69.5 | 5.4 | ||||
| Selling, marketing and administrative expenses | 5,810 | 27.1 | 5,339 | 26.8 | 8.8 | ||||
| Research and development expense | 4,480 | 20.9 | 3,710 | 18.6 | 20.8 | ||||
| In-process research and development impairments | 58 | 0.3 | 173 | 0.8 | |||||
| Interest (income) expense, net | (212) | (1.0) | (77) | (0.4) | |||||
| Other (income) expense, net | (421) | (2.0) | 795 | 4.0 | |||||
| Restructuring | 56 | 0.3 | 75 | 0.4 | |||||
| Earnings before provision for taxes on income | 4,826 | 22.6 | 3,840 | 19.3 | 25.7 | ||||
| Provision for taxes on income | 694 | 3.3 | 613 | 3.1 | 13.2 | ||||
| Net earnings from Continuing Operations | $ | 4,132 | 19.3 | $ | 3,227 | 16.2 | 28.0 | ||
| Net earnings/(loss) from Discontinued Operations, net of tax | (83) | 293 | |||||||
| Net earnings | $ | 4,049 | $ | 3,520 | |||||
| Net earnings per share (Diluted) from Continuing Operations | $ | 1.70 | $ | 1.22 | 39.3 | ||||
| Net earnings/(loss) per share (Basic/Diluted) from Discontinued Operations* | $ | (0.03) | $ | 0.11 | |||||
| Average shares outstanding (Diluted) | 2,430.7 | 2,650.1 | |||||||
| Effective tax rate from Continuing Operations | 14.4 | % | 16.0 | % | |||||
| Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A) | |||||||||
| Earnings before provision for taxes on income from Continuing Operations | $ | 6,237 | 29.2 | $ | 6,482 | 32.5 | (3.8) | ||
| Net earnings from Continuing Operations | $ | 5,562 | 26.0 | $ | 5,432 | 27.2 | 2.4 | ||
| Net earnings per share (Diluted) from Continuing Operations | $ | 2.29 | $ | 2.05 | 11.7 | ||||
| Effective tax rate from Continuing Operations | 10.8 | % | 16.2 | % | |||||
| * Basic shares of 2,407.2 are used to calculate loss per share in the fourth quarter of 2023 as use of diluted shares when in a loss position would be anti-dilutive. | |||||||||
| (1) See Reconciliation of Non-GAAP Financial Measures. | |||||||||
| (A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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 | ||||||||
| 2023 | 2022 | Percent | |||||||
| Percent | Percent | Increase | |||||||
| Amount | to Sales | Amount | to Sales | (Decrease) | |||||
| Sales to customers | $ | 85,159 | 100.0 | $ | 79,990 | 100.0 | 6.5 | ||
| Cost of products sold | 26,553 | 31.2 | 24,596 | 30.7 | 8.0 | ||||
| Gross Profit | 58,606 | 68.8 | 55,394 | 69.3 | 5.8 | ||||
| Selling, marketing and administrative expenses | 21,512 | 25.2 | 20,246 | 25.3 | 6.3 | ||||
| Research and development expense | 15,085 | 17.7 | 14,135 | 17.7 | 6.7 | ||||
| In-process research and development impairments | 313 | 0.4 | 783 | 1.0 | |||||
| Interest (income) expense, net | (489) | (0.6) | (214) | (0.3) | |||||
| Other (income) expense, net | 6,634 | 7.8 | 810 | 1.0 | |||||
| Restructuring | 489 | 0.6 | 275 | 0.4 | |||||
| Earnings before provision for taxes on income | 15,062 | 17.7 | 19,359 | 24.2 | (22.2) | ||||
| Provision for taxes on income | 1,736 | 2.1 | 2,989 | 3.7 | (41.9) | ||||
| Net earnings from Continuing Operations | $ | 13,326 | 15.6 | $ | 16,370 | 20.5 | (18.6) | ||
| Net earnings from Discontinued Operations, net of tax | 21,827 | 1,571 | |||||||
| Net earnings | $ | 35,153 | $ | 17,941 | |||||
| Net earnings per share (Diluted) from Continuing Operations | $ | 5.20 | $ | 6.14 | (15.3) | ||||
| Net earnings per share (Diluted) from Discontinued Operations | $ | 8.52 | $ | 0.59 | |||||
| Average shares outstanding (Diluted) | 2,560.4 | 2,663.9 | |||||||
| Effective tax rate from Continuing Operations | 11.5 | % | 15.4 | % | |||||
| Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A) | |||||||||
| Earnings before provision for taxes on income from Continuing Operations | $ | 29,811 | 35.0 | $ | 27,973 | 35.0 | 6.6 | ||
| Net earnings from Continuing Operations | $ | 25,409 | 29.8 | $ | 23,796 | 29.7 | 6.8 | ||
| Net earnings per share (Diluted) from Continuing Operations | $ | 9.92 | $ | 8.93 | 11.1 | ||||
| Effective tax rate from Continuing Operations | 14.8 | % | 14.9 | % | |||||
| (1) See Reconciliation of Non-GAAP Financial Measures. | |||||||||
| (A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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 | |||||||||
| (Dollars in Millions Except Per Share Data) | 2022 | ||||||||
| Net Earnings from Continuing Operations, after tax- as reported | 4,132 | $ | 3,227 | ||||||
| Pre-tax Adjustments | |||||||||
| Litigation related | 262 | ||||||||
| Intangible Asset Amortization expense | 977 | ||||||||
| COVID-19 Vaccine related costs 1 | 821 | ||||||||
| Restructuring related 2 | 119 | ||||||||
| Medical Device Regulation 3 | 88 | ||||||||
| Acquisition, integration and divestiture related | 196 | ||||||||
| (Gains)/losses on securities | 6 | ||||||||
| IPR&D impairments | 173 | ||||||||
| Tax Adjustments | |||||||||
| Tax impact on special item adjustments 4 | (394) | ||||||||
| Tax legislation and other tax related | (43) | ||||||||
| Adjusted Net Earnings from Continuing Operations, after tax | 5,562 | $ | 5,432 | ||||||
| Average shares outstanding (Diluted) | 2,650.1 | ||||||||
| Adjusted net earnings per share from Continuing Operations (Diluted) | 2.29 | $ | 2.05 | ||||||
| Operational adjusted net earnings per share from Continuing Operations (Diluted) | 2.28 | ||||||||
| Notes: | |||||||||
| 1 | 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 completion of its COVID-19 vaccine contractual commitments. | ||||||||
| 2 | In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of 55 million in the quarter (479 million Q4 YTD) include the termination of partnered and non-partnered program costs and asset impairments.In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of 84 million in the quarter (319 million Q4 YTD) primarily includes inventory and instrument reserves related to the market and product exits. | ||||||||
| 3 | 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. | ||||||||
| 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 | ||||
| (Dollars in Millions Except Per Share Data) | 2022 | |||
| Net Earnings from Continuing Operations, after tax- as reported | 13,326 | $ | 16,370 | |
| Pre-tax Adjustments | ||||
| Litigation related | 866 | |||
| Intangible Asset Amortization expense | 3,944 | |||
| COVID-19 Vaccine related costs 1 | 1,474 | |||
| Restructuring related 2 | 372 | |||
| Medical Device Regulation 3 | 296 | |||
| Acquisition, integration and divestiture related | 196 | |||
| (Gains)/losses on securities | 690 | |||
| IPR&D impairments | 783 | |||
| Other | (7) | |||
| Tax Adjustments | ||||
| Tax impact on special item adjustments 4 | (1,294) | |||
| Tax legislation and other tax related | 106 | |||
| Adjusted Net Earnings from Continuing Operations, after tax | 25,409 | $ | 23,796 | |
| Average shares outstanding (Diluted) | 2,663.9 | |||
| Adjusted net earnings per share from Continuing Operations (Diluted) | 9.92 | $ | 8.93 | |
| Operational adjusted net earnings per share from Continuing Operations (Diluted) | 9.89 | |||
| Notes: | ||||
| 1 | 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 completion of its COVID-19 vaccine contractual commitments. | |||
| 2 | In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of 55 million in the quarter (479 million Q4 YTD) include the termination of partnered and non-partnered program costs and asset impairments.In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of 84 million in the quarter (319 million Q4 YTD) primarily includes inventory and instrument reserves related to the market and product exits. | |||
| 3 | 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. | |||
| 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 2023 ACTUAL vs. 2022 ACTUAL | |||||||||
| Segments | |||||||||
| Innovative Medicine | MedTech | Total | |||||||
| WW As Reported | 4.2 | % | 13.3 | % | 7.3 | % | |||
| U.S. | 9.5 | % | 14.1 | % | 11.0 | % | |||
| International | (2.5) | % | 12.4 | % | 2.9 | % | |||
| WW Currency | 0.2 | (0.1) | 0.1 | ||||||
| U.S. | — | — | — | ||||||
| International | 0.6 | (0.4) | 0.2 | ||||||
| WW Operational | 4.0 | % | 13.4 | % | 7.2 | % | |||
| U.S. | 9.5 | % | 14.1 | % | 11.0 | % | |||
| International | (3.1) | % | 12.8 | % | 2.7 | % | |||
| Abiomed | (4.5) | (1.6) | |||||||
| U.S. | (7.2) | (2.3) | |||||||
| International | (1.9) | (0.7) | |||||||
| All Other Acquisitions and Divestitures | 0.0 | 0.2 | 0.1 | ||||||
| U.S. | 0.0 | 0.3 | 0.1 | ||||||
| International | 0.1 | 0.1 | 0.1 | ||||||
| WW Adjusted Operational | 4.0 | % | 9.1 | % | 5.7 | % | |||
| U.S. | 9.5 | % | 7.2 | % | 8.8 | % | |||
| International | (3.0) | % | 11.0 | % | 2.1 | % | |||
| 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 2023 ACTUAL vs. 2022 ACTUAL | |||||||||
| Segments | |||||||||
| Innovative Medicine | MedTech | Total | |||||||
| WW As Reported | 4.2 | % | 10.8 | % | 6.5 | % | |||
| U.S. | 9.0 | % | 14.2 | % | 10.6 | % | |||
| International | (1.5) | % | 7.7 | % | 1.9 | % | |||
| WW Currency | (0.6) | (1.6) | (0.9) | ||||||
| U.S. | — | — | — | ||||||
| International | (1.3) | (2.9) | (1.9) | ||||||
| WW Operational | 4.8 | % | 12.4 | % | 7.4 | % | |||
| U.S. | 9.0 | % | 14.2 | % | 10.6 | % | |||
| International | (0.2) | % | 10.6 | % | 3.8 | % | |||
| Abiomed | (4.7) | (1.6) | |||||||
| U.S. | (7.7) | (2.5) | |||||||
| International | (1.7) | (0.6) | |||||||
| All Other Acquisitions and Divestitures | 0.1 | 0.1 | 0.1 | ||||||
| U.S. | 0.0 | 0.1 | 0.1 | ||||||
| International | 0.2 | 0.1 | 0.2 | ||||||
| WW Adjusted Operational | 4.9 | % | 7.8 | % | 5.9 | % | |||
| U.S. | 9.0 | % | 6.6 | % | 8.2 | % | |||
| International | 0.0 | % | 9.0 | % | 3.4 | % | |||
| 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 | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT (2,3,4) | |||||||||
| IMMUNOLOGY | |||||||||
| US | $ | 3,033 | 2,805 | 8.1 | % | 8.1 | % | — | % |
| Intl | 1,562 | 1,312 | 19.0 | 17.7 | 1.3 | ||||
| WW | 4,595 | 4,118 | 11.6 | 11.2 | 0.4 | ||||
| REMICADE | |||||||||
| US | 294 | 318 | (7.4) | (7.4) | — | ||||
| US Exports (5) | 35 | 41 | (15.1) | (15.1) | — | ||||
| Intl | 100 | 116 | (13.4) | (12.4) | (1.0) | ||||
| WW | 429 | 475 | (9.6) | (9.4) | (0.2) | ||||
| SIMPONI / SIMPONI ARIA | |||||||||
| US | 258 | 280 | (7.8) | (7.8) | — | ||||
| Intl | 244 | 220 | 10.1 | 11.8 | (1.7) | ||||
| WW | 502 | 501 | 0.1 | 0.8 | (0.7) | ||||
| STELARA | |||||||||
| US | 1,786 | 1,621 | 10.1 | 10.1 | — | ||||
| Intl | 967 | 764 | 26.4 | 23.9 | 2.5 | ||||
| WW | 2,753 | 2,386 | 15.3 | 14.5 | 0.8 | ||||
| TREMFYA | |||||||||
| US | 657 | 541 | 21.6 | 21.6 | — | ||||
| Intl | 252 | 211 | 19.4 | 17.8 | 1.6 | ||||
| WW | 910 | 752 | 21.0 | 20.5 | 0.5 | ||||
| OTHER IMMUNOLOGY | |||||||||
| US | 2 | 3 | (22.8) | (22.8) | — | ||||
| Intl | 0 | 0 | — | — | — | ||||
| WW | 2 | 3 | (22.8) | (22.8) | — | ||||
| INFECTIOUS DISEASES | |||||||||
| US | 353 | 414 | (14.6) | (14.6) | — | ||||
| Intl | 498 | 1,127 | (55.8) | (58.2) | 2.4 | ||||
| WW | 852 | 1,540 | (44.7) | (46.5) | 1.8 | ||||
| COVID-19 VACCINE | |||||||||
| US | 0 | 0 | — | — | — | ||||
| Intl | 44 | 689 | (93.7) | (95.2) | 1.5 | ||||
| WW | 44 | 689 | (93.7) | (95.2) | 1.5 | ||||
| EDURANT / rilpivirine | |||||||||
| US | 9 | 9 | (12.4) | (12.4) | — | ||||
| Intl | 299 | 281 | 6.4 | 1.5 | 4.9 | ||||
| WW | 307 | 290 | 5.8 | 1.0 | 4.8 | ||||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||
| US | 341 | 398 | (14.4) | (14.4) | — | ||||
| Intl | 98 | 95 | 3.1 | (0.8) | 3.9 | ||||
| WW | 439 | 493 | (11.0) | (11.8) | 0.8 | ||||
| OTHER INFECTIOUS DISEASES | |||||||||
| US | 4 | 6 | (30.4) | (30.4) | — | ||||
| Intl | 58 | 61 | (5.6) | (4.9) | (0.7) | ||||
| WW | 62 | 67 | (7.8) | (7.1) | (0.7) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | ||||
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued) | |||||||||
| NOSCIENCE | |||||||||
| US | 1,022 | 912 | 12.1% | 12.1% | —% | ||||
| Intl | 780 | 825 | (5.5) | (2.0) | (3.5) | ||||
| WW | 1,801 | 1,737 | 3.7 | 5.4 | (1.7) | ||||
| CONCERTA / methylphenidate | |||||||||
| US | 39 | 37 | 5.7 | 5.7 | — | ||||
| Intl | 142 | 131 | 7.9 | 9.2 | (1.3) | ||||
| WW | 180 | 168 | 7.4 | 8.5 | (1.1) | ||||
| INVEGA SUSTENNA / XEPLION / INVEGA | |||||||||
| TRINZA / TREVICTA | |||||||||
| US | 733 | 678 | 8.0 | 8.0 | — | ||||
| Intl | 278 | 329 | (15.5) | (15.7) | 0.2 | ||||
| WW | 1,011 | 1,008 | 0.3 | 0.3 | 0.0 | ||||
| SPRAVATO | |||||||||
| US | 180 | 105 | 72.3 | 72.3 | — | ||||
| Intl | 26 | 14 | 87.1 | 83.4 | 3.7 | ||||
| WW | 206 | 119 | 74.1 | 73.6 | 0.5 | ||||
| OTHER NOSCIENCE | |||||||||
| US | 71 | 91 | (23.0) | (23.0) | — | ||||
| Intl | 334 | 351 | (5.0) | 3.2 | (8.2) | ||||
| WW | 404 | 442 | (8.7) | (2.3) | (6.4) | ||||
| ONCOLOGY | |||||||||
| US | 2,285 | 1,857 | 23.0 | 23.0 | — | ||||
| Intl | 2,334 | 2,069 | 12.8 | 12.0 | 0.8 | ||||
| WW | 4,618 | 3,927 | 17.6 | 17.2 | 0.4 | ||||
| CARVYKTI | |||||||||
| US | 145 | 54 | * | * | — | ||||
| Intl | 13 | — | * | * | — | ||||
| WW | 159 | 54 | * | * | * | ||||
| DARZALEX | |||||||||
| US | 1,395 | 1,139 | 22.5 | 22.5 | — | ||||
| Intl | 1,155 | 944 | 22.3 | 21.8 | 0.5 | ||||
| WW | 2,550 | 2,083 | 22.4 | 22.2 | 0.2 | ||||
| ERLEADA | |||||||||
| US | 287 | 275 | 4.4 | 4.4 | — | ||||
| Intl | 361 | 266 | 35.6 | 34.0 | 1.6 | ||||
| WW | 647 | 541 | 19.8 | 19.0 | 0.8 | ||||
| IMBRUVICA | |||||||||
| US | 255 | 318 | (19.8) | (19.8) | — | ||||
| Intl | 533 | 547 | (2.6) | (3.8) | 1.2 | ||||
| WW | 788 | 866 | (8.9) | (9.7) | 0.8 | ||||
| ZYTIGA / abiraterone acetate | |||||||||
| US | 9 | 20 | (52.0) | (52.0) | — | ||||
| Intl | 191 | 250 | (23.6) | (23.2) | (0.4) | ||||
| WW | 201 | 270 | (25.6) | (25.3) | (0.3) | ||||
| OTHER ONCOLOGY | |||||||||
| US | 192 | 52 | * | * | — | ||||
| Intl | 82 | 63 | 32.2 | 28.4 | 3.8 | ||||
| WW | 274 | 114 | * | * | * |
All values are in Euros.
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued) | |||||||||
| PULMONARY HYPERTENSION | |||||||||
| US | $ | 733 | 610 | 20.2 | % | 20.2 | % | — | % |
| Intl | 282 | 261 | 8.6 | 10.9 | (2.3) | ||||
| WW | 1,017 | 870 | 16.7 | 17.4 | (0.7) | ||||
| OPSUMIT | |||||||||
| US | 368 | 305 | 20.5 | 20.5 | — | ||||
| Intl | 169 | 156 | 7.9 | 8.3 | (0.4) | ||||
| WW | 536 | 461 | 16.2 | 16.3 | (0.1) | ||||
| UPTRAVI | |||||||||
| US | 348 | 280 | 24.3 | 24.3 | — | ||||
| Intl | 70 | 56 | 26.4 | 31.4 | (5.0) | ||||
| WW | 419 | 336 | 24.6 | 25.4 | (0.8) | ||||
| OTHER PULMONARY HYPERTENSION | |||||||||
| US | 18 | 24 | (29.4) | (29.4) | — | ||||
| Intl | 45 | 48 | (9.7) | (3.9) | (5.8) | ||||
| WW | 61 | 73 | (16.2) | (12.4) | (3.8) | ||||
| CARDIOVASCULAR / METABOLISM / OTHER | |||||||||
| US | 652 | 776 | (15.9) | (15.9) | — | ||||
| Intl | 185 | 194 | (4.7) | (6.7) | 2.0 | ||||
| WW | 837 | 971 | (13.7) | (14.1) | 0.4 | ||||
| XARELTO | |||||||||
| US | 525 | 667 | (21.2) | (21.2) | — | ||||
| Intl | — | — | — | — | — | ||||
| WW | 525 | 667 | (21.2) | (21.2) | — | ||||
| OTHER | |||||||||
| US | 127 | 110 | 15.9 | 15.9 | — | ||||
| Intl | 185 | 194 | (4.7) | (6.7) | 2.0 | ||||
| WW | 312 | 304 | 2.8 | 1.5 | 1.3 | ||||
| TOTAL INNOVATIVE MEDICINE | |||||||||
| US | 8,079 | 7,375 | 9.5 | 9.5 | — | ||||
| Intl | 5,643 | 5,788 | (2.5) | (3.1) | 0.6 | ||||
| WW | $ | 13,722 | 13,163 | 4.2 | % | 4.0 | % | 0.2 | % |
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | |||
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2,3) | |||||||||
| INTERVENTIONAL SOLUTIONS | |||||||||
| US | $ | 971 | 603 | 61.0 | 61.0 | — | |||
| Intl | 698 | 495 | 40.8 | 41.7 | (0.9) | ||||
| WW | 1,669 | 1,098 | 51.9 | 52.3 | (0.4) | ||||
| ELECTROPHYSIOLOGY | |||||||||
| US | 667 | 547 | 22.0 | 22.0 | — | ||||
| Intl | 572 | 447 | 28.0 | 29.0 | (1.0) | ||||
| WW | 1,239 | 994 | 24.7 | 25.2 | (0.5) | ||||
| ABIOMED | |||||||||
| US | 276 | 31 | * | * | — | ||||
| Intl | 64 | — | * | * | — | ||||
| WW | 340 | 31 | * | * | — | ||||
| OTHER INTERVENTIONAL SOLUTIONS | |||||||||
| US | 28 | 25 | 8.8 | 8.8 | — | ||||
| Intl | 61 | 48 | 26.5 | 27.1 | (0.6) | ||||
| WW | 89 | 73 | 20.4 | 20.7 | (0.3) | ||||
| ORTHOPAEDICS | |||||||||
| US | 1,425 | 1,385 | 2.9 | 2.9 | — | ||||
| Intl | 843 | 763 | 10.5 | 8.8 | 1.7 | ||||
| WW | 2,268 | 2,148 | 5.6 | 5.0 | 0.6 | ||||
| HIPS | |||||||||
| US | 266 | 250 | 6.3 | 6.3 | — | ||||
| Intl | 132 | 135 | (2.0) | (3.9) | 1.9 | ||||
| WW | 398 | 385 | 3.4 | 2.7 | 0.7 | ||||
| KNEES | |||||||||
| US | 242 | 231 | 4.5 | 4.5 | — | ||||
| Intl | 144 | 122 | 18.1 | 15.6 | 2.5 | ||||
| WW | 387 | 354 | 9.2 | 8.4 | 0.8 | ||||
| TRAUMA | |||||||||
| US | 487 | 470 | 3.6 | 3.6 | — | ||||
| Intl | 255 | 240 | 5.9 | 4.1 | 1.8 | ||||
| WW | 741 | 710 | 4.4 | 3.8 | 0.6 | ||||
| SPINE, SPORTS & OTHER | |||||||||
| US | 430 | 434 | (0.7) | (0.7) | — | ||||
| Intl | 311 | 265 | 17.5 | 16.5 | 1.0 | ||||
| WW | 742 | 699 | 6.2 | 5.8 | 0.4 | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2,3)(Continued) | |||||||||
| SURGERY | |||||||||
| US | $ | 1,047 | 1,000 | 4.6 | % | 4.6 | % | — | % |
| Intl | 1,484 | 1,383 | 7.2 | 7.8 | (0.6) | ||||
| WW | 2,530 | 2,384 | 6.1 | 6.4 | (0.3) | ||||
| ADVANCED | |||||||||
| US | 468 | 456 | 2.5 | 2.5 | — | ||||
| Intl | 698 | 653 | 7.0 | 7.2 | (0.2) | ||||
| WW | 1,167 | 1,109 | 5.1 | 5.2 | (0.1) | ||||
| GENERAL | |||||||||
| US | 579 | 544 | 6.4 | 6.4 | — | ||||
| Intl | 785 | 731 | 7.4 | 8.3 | (0.9) | ||||
| WW | 1,364 | 1,275 | 7.0 | 7.5 | (0.5) | ||||
| VISION | |||||||||
| US | 487 | 456 | 6.8 | 6.8 | — | ||||
| Intl | 721 | 689 | 4.6 | 6.4 | (1.8) | ||||
| WW | 1,208 | 1,145 | 5.5 | 6.6 | (1.1) | ||||
| CONTACT LENSES / OTHER | |||||||||
| US | 374 | 343 | 8.9 | 8.9 | — | ||||
| Intl | 508 | 489 | 4.2 | 7.2 | (3.0) | ||||
| WW | 882 | 831 | 6.1 | 7.9 | (1.8) | ||||
| SURGICAL | |||||||||
| US | 114 | 113 | 0.4 | 0.4 | — | ||||
| Intl | 212 | 200 | 5.6 | 4.7 | 0.9 | ||||
| WW | 326 | 314 | 3.7 | 3.1 | 0.6 | ||||
| TOTAL MEDTECH | |||||||||
| US | 3,930 | 3,445 | 14.1 | 14.1 | — | ||||
| Intl | 3,743 | 3,331 | 12.4 | 12.8 | (0.4) | ||||
| WW | $ | 7,673 | 6,776 | 13.3 | % | 13.4 | % | (0.1) | % |
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT (2,3,4) | |||||||||
| IMMUNOLOGY | |||||||||
| US | $ | 11,539 | 11,036 | 4.6 | % | 4.6 | % | — | % |
| Intl | 6,513 | 5,899 | 10.4 | 12.0 | (1.6) | ||||
| WW | 18,052 | 16,935 | 6.6 | 7.1 | (0.5) | ||||
| REMICADE | |||||||||
| US | 1,143 | 1,417 | (19.3) | (19.3) | — | ||||
| US Exports (5) | 147 | 204 | (28.0) | (28.0) | — | ||||
| Intl | 549 | 722 | (23.9) | (21.3) | (2.6) | ||||
| WW | 1,839 | 2,343 | (21.5) | (20.7) | (0.8) | ||||
| SIMPONI / SIMPONI ARIA | |||||||||
| US | 1,124 | 1,166 | (3.6) | (3.6) | — | ||||
| Intl | 1,073 | 1,017 | 5.4 | 9.3 | (3.9) | ||||
| WW | 2,197 | 2,184 | 0.6 | 2.4 | (1.8) | ||||
| STELARA | |||||||||
| US | 6,966 | 6,388 | 9.0 | 9.0 | — | ||||
| Intl | 3,892 | 3,335 | 16.7 | 17.4 | (0.7) | ||||
| WW | 10,858 | 9,723 | 11.7 | 11.9 | (0.2) | ||||
| TREMFYA | |||||||||
| US | 2,147 | 1,844 | 16.5 | 16.5 | — | ||||
| Intl | 999 | 824 | 21.2 | 22.4 | (1.2) | ||||
| WW | 3,147 | 2,668 | 17.9 | 18.3 | (0.4) | ||||
| OTHER IMMUNOLOGY | |||||||||
| US | 11 | 17 | (33.8) | (33.8) | — | ||||
| Intl | 0 | 0 | — | — | — | ||||
| WW | 11 | 17 | (33.8) | (33.8) | — | ||||
| INFECTIOUS DISEASES | |||||||||
| US | 1,500 | 1,680 | (10.7) | (10.7) | — | ||||
| Intl | 2,918 | 3,769 | (22.6) | (23.9) | 1.3 | ||||
| WW | 4,418 | 5,449 | (18.9) | (19.8) | 0.9 | ||||
| COVID-19 VACCINE | |||||||||
| US | 0 | 120 | * | * | — | ||||
| Intl | 1,117 | 2,059 | (45.8) | (47.2) | 1.4 | ||||
| WW | 1,117 | 2,179 | (48.8) | (50.1) | 1.3 | ||||
| EDURANT / rilpivirine | |||||||||
| US | 35 | 36 | (3.7) | (3.7) | — | ||||
| Intl | 1,115 | 972 | 14.8 | 12.1 | 2.7 | ||||
| WW | 1,150 | 1,008 | 14.1 | 11.5 | 2.6 | ||||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||
| US | 1,446 | 1,494 | (3.2) | (3.2) | — | ||||
| Intl | 408 | 449 | (9.2) | (10.4) | 1.2 | ||||
| WW | 1,854 | 1,943 | (4.6) | (4.9) | 0.3 | ||||
| OTHER INFECTIOUS DISEASES | |||||||||
| US | 19 | 30 | (34.5) | (34.5) | — | ||||
| Intl | 278 | 289 | (3.8) | (0.4) | (3.4) | ||||
| WW | 297 | 318 | (6.7) | (3.6) | (3.1) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | ||||
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued) | |||||||||
| NOSCIENCE | |||||||||
| US | 4,065 | 3,570 | 13.9% | 13.9% | —% | ||||
| Intl | 3,076 | 3,323 | (7.5) | (3.7) | (3.8) | ||||
| WW | 7,140 | 6,893 | 3.6 | 5.4 | (1.8) | ||||
| CONCERTA / methylphenidate | |||||||||
| US | 230 | 151 | 52.5 | 52.5 | — | ||||
| Intl | 554 | 493 | 12.2 | 16.4 | (4.2) | ||||
| WW | 783 | 644 | 21.6 | 24.9 | (3.3) | ||||
| INVEGA SUSTENNA / XEPLION / INVEGA | |||||||||
| TRINZA / TREVICTA | |||||||||
| US | 2,897 | 2,714 | 6.7 | 6.7 | — | ||||
| Intl | 1,218 | 1,426 | (14.6) | (12.8) | (1.8) | ||||
| WW | 4,115 | 4,140 | (0.6) | 0.0 | (0.6) | ||||
| SPRAVATO | |||||||||
| US | 589 | 328 | 79.7 | 79.7 | — | ||||
| Intl | 100 | 46 | * | * | * | ||||
| WW | 689 | 374 | 84.1 | 84.0 | 0.1 | ||||
| OTHER NOSCIENCE | |||||||||
| US | 349 | 376 | (7.3) | (7.3) | — | ||||
| Intl | 1,204 | 1,358 | (11.3) | (5.4) | (5.9) | ||||
| WW | 1,553 | 1,734 | (10.4) | (5.9) | (4.5) | ||||
| ONCOLOGY | |||||||||
| US | 8,462 | 6,930 | 22.1 | 22.1 | — | ||||
| Intl | 9,199 | 9,052 | 1.6 | 2.9 | (1.3) | ||||
| WW | 17,661 | 15,983 | 10.5 | 11.2 | (0.7) | ||||
| CARVYKTI | |||||||||
| US | 469 | 133 | * | * | — | ||||
| Intl | 30 | — | * | * | — | ||||
| WW | 500 | 133 | * | * | * | ||||
| DARZALEX | |||||||||
| US | 5,277 | 4,210 | 25.4 | 25.4 | — | ||||
| Intl | 4,467 | 3,767 | 18.6 | 20.2 | (1.6) | ||||
| WW | 9,744 | 7,977 | 22.2 | 22.9 | (0.7) | ||||
| ERLEADA | |||||||||
| US | 1,065 | 968 | 10.0 | 10.0 | — | ||||
| Intl | 1,322 | 913 | 44.8 | 46.0 | (1.2) | ||||
| WW | 2,387 | 1,881 | 26.9 | 27.5 | (0.6) | ||||
| IMBRUVICA | |||||||||
| US | 1,051 | 1,390 | (24.4) | (24.4) | — | ||||
| Intl | 2,214 | 2,394 | (7.5) | (6.7) | (0.8) | ||||
| WW | 3,264 | 3,784 | (13.7) | (13.2) | (0.5) | ||||
| ZYTIGA / abiraterone acetate | |||||||||
| US | 50 | 74 | (32.1) | (32.1) | — | ||||
| Intl | 837 | 1,696 | (50.7) | (49.1) | (1.6) | ||||
| WW | 887 | 1,770 | (49.9) | (48.4) | (1.5) | ||||
| OTHER ONCOLOGY | |||||||||
| US | 549 | 156 | * | * | — | ||||
| Intl | 330 | 283 | 16.9 | 17.0 | (0.1) | ||||
| WW | 879 | 438 | * | * | * |
All values are in Euros.
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued) | |||||||||
| PULMONARY HYPERTENSION | |||||||||
| US | $ | 2,697 | 2,346 | 15.0 | % | 15.0 | % | — | % |
| Intl | 1,117 | 1,071 | 4.3 | 8.3 | (4.0) | ||||
| WW | 3,815 | 3,417 | 11.6 | 12.9 | (1.3) | ||||
| OPSUMIT | |||||||||
| US | 1,292 | 1,132 | 14.1 | 14.1 | — | ||||
| Intl | 681 | 651 | 4.6 | 7.2 | (2.6) | ||||
| WW | 1,973 | 1,783 | 10.6 | 11.6 | (1.0) | ||||
| UPTRAVI | |||||||||
| US | 1,326 | 1,104 | 20.1 | 20.1 | — | ||||
| Intl | 255 | 218 | 17.3 | 21.8 | (4.5) | ||||
| WW | 1,582 | 1,322 | 19.7 | 20.4 | (0.7) | ||||
| OTHER PULMONARY HYPERTENSION | |||||||||
| US | 79 | 110 | (28.6) | (28.6) | — | ||||
| Intl | 182 | 202 | (10.3) | (2.9) | (7.4) | ||||
| WW | 260 | 313 | (16.7) | (12.0) | (4.7) | ||||
| CARDIOVASCULAR / METABOLISM / OTHER | |||||||||
| US | 2,906 | 3,042 | (4.5) | (4.5) | — | ||||
| Intl | 765 | 845 | (9.4) | (9.1) | (0.3) | ||||
| WW | 3,671 | 3,887 | (5.5) | (5.5) | 0.0 | ||||
| XARELTO | |||||||||
| US | 2,365 | 2,473 | (4.4) | (4.4) | — | ||||
| Intl | — | — | — | — | — | ||||
| WW | 2,365 | 2,473 | (4.4) | (4.4) | — | ||||
| OTHER | |||||||||
| US | 541 | 569 | (5.0) | (5.0) | — | ||||
| Intl | 765 | 845 | (9.4) | (9.1) | (0.3) | ||||
| WW | 1,306 | 1,414 | (7.6) | (7.4) | (0.2) | ||||
| TOTAL INNOVATIVE MEDICINE | |||||||||
| US | 31,169 | 28,604 | 9.0 | 9.0 | — | ||||
| Intl | 23,590 | 23,959 | (1.5) | (0.2) | (1.3) | ||||
| WW | $ | 54,759 | 52,563 | 4.2 | % | 4.8 | % | (0.6) | % |
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2,3) | |||||||||
| INTERVENTIONAL SOLUTIONS | |||||||||
| US | $ | 3,633 | 2,169 | 67.5 | % | 67.5 | % | — | % |
| Intl | 2,717 | 2,131 | 27.5 | 31.7 | (4.2) | ||||
| WW | 6,350 | 4,300 | 47.7 | 49.8 | (2.1) | ||||
| ELECTROPHYSIOLOGY | |||||||||
| US | 2,458 | 2,036 | 20.7 | 20.7 | — | ||||
| Intl | 2,230 | 1,901 | 17.3 | 21.5 | (4.2) | ||||
| WW | 4,688 | 3,937 | 19.1 | 21.1 | (2.0) | ||||
| ABIOMED | |||||||||
| US | 1,066 | 31 | * | * | — | ||||
| Intl | 240 | — | * | * | — | ||||
| WW | 1,306 | 31 | * | * | — | ||||
| OTHER INTERVENTIONAL SOLUTIONS | |||||||||
| US | 109 | 102 | 6.7 | 6.7 | — | ||||
| Intl | 247 | 230 | 7.3 | 11.4 | (4.1) | ||||
| WW | 356 | 332 | 7.1 | 9.9 | (2.8) | ||||
| ORTHOPAEDICS | |||||||||
| US | 5,525 | 5,321 | 3.8 | 3.8 | — | ||||
| Intl | 3,417 | 3,267 | 4.6 | 5.8 | (1.2) | ||||
| WW | 8,942 | 8,587 | 4.1 | 4.6 | (0.5) | ||||
| HIPS | |||||||||
| US | 996 | 943 | 5.6 | 5.6 | — | ||||
| Intl | 564 | 571 | (1.2) | (0.1) | (1.1) | ||||
| WW | 1,560 | 1,514 | 3.0 | 3.5 | (0.5) | ||||
| KNEES | |||||||||
| US | 896 | 851 | 5.3 | 5.3 | — | ||||
| Intl | 559 | 508 | 10.2 | 11.1 | (0.9) | ||||
| WW | 1,456 | 1,359 | 7.1 | 7.5 | (0.4) | ||||
| TRAUMA | |||||||||
| US | 1,949 | 1,882 | 3.6 | 3.6 | — | ||||
| Intl | 1,030 | 989 | 4.1 | 4.8 | (0.7) | ||||
| WW | 2,979 | 2,871 | 3.8 | 4.0 | (0.2) | ||||
| SPINE, SPORTS & OTHER | |||||||||
| US | 1,684 | 1,645 | 2.4 | 2.4 | — | ||||
| Intl | 1,263 | 1,198 | 5.4 | 7.3 | (1.9) | ||||
| WW | 2,947 | 2,843 | 3.7 | 4.5 | (0.8) | ||||
| See footnotes at end of schedule | |||||||||
| Johnson & Johnson | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Reported | Operational (1) | Currency | |||||
| MEDTECH SEGMENT (2,3)(Continued) | |||||||||
| SURGERY | |||||||||
| US | $ | 4,031 | 3,897 | 3.4 | % | 3.4 | % | — | % |
| Intl | 6,006 | 5,793 | 3.7 | 7.0 | (3.3) | ||||
| WW | 10,037 | 9,690 | 3.6 | 5.5 | (1.9) | ||||
| ADVANCED | |||||||||
| US | 1,833 | 1,784 | 2.8 | 2.8 | — | ||||
| Intl | 2,837 | 2,785 | 1.9 | 5.1 | (3.2) | ||||
| WW | 4,671 | 4,569 | 2.2 | 4.2 | (2.0) | ||||
| GENERAL | |||||||||
| US | 2,198 | 2,113 | 4.0 | 4.0 | — | ||||
| Intl | 3,168 | 3,008 | 5.3 | 8.7 | (3.4) | ||||
| WW | 5,366 | 5,121 | 4.8 | 6.8 | (2.0) | ||||
| VISION | |||||||||
| US | 2,086 | 1,990 | 4.8 | 4.8 | — | ||||
| Intl | 2,986 | 2,859 | 4.5 | 7.9 | (3.4) | ||||
| WW | 5,072 | 4,849 | 4.6 | 6.6 | (2.0) | ||||
| CONTACT LENSES / OTHER | |||||||||
| US | 1,626 | 1,522 | 6.8 | 6.8 | — | ||||
| Intl | 2,076 | 2,022 | 2.7 | 7.0 | (4.3) | ||||
| WW | 3,702 | 3,543 | 4.5 | 6.9 | (2.4) | ||||
| SURGICAL | |||||||||
| US | 460 | 468 | (1.8) | (1.8) | — | ||||
| Intl | 910 | 837 | 8.6 | 10.0 | (1.4) | ||||
| WW | 1,370 | 1,306 | 4.9 | 5.8 | (0.9) | ||||
| TOTAL MEDTECH | |||||||||
| US | 15,275 | 13,377 | 14.2 | 14.2 | — | ||||
| Intl | 15,125 | 14,050 | 7.7 | 10.6 | (2.9) | ||||
| WW | $ | 30,400 | 27,427 | 10.8 | % | 12.4 | % | (1.6) | % |
| 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) Previously referred to as Pharmaceutical | |||||||||
| (5) Reported as U.S. sales | |||||||||
| Supplemental Sales Reconciliation (Unaudited) | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| (Dollars in Millions) | |||||||||
| FOURTH QUARTER | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Total | Operations | Currency | |||||
| Innovative Medicine | |||||||||
| U.S. | $ | 8,079 | 7,375 | 9.5 | % | 9.5 | - | ||
| International | 5,643 | 5,788 | (2.5) | (3.1) | 0.6 | ||||
| Worldwide | 13,722 | 13,163 | 4.2 | 4.0 | 0.2 | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | - | - | - | - | - | ||||
| International | 44 | 689 | (93.7) | (95.2) | 1.5 | ||||
| Worldwide | 44 | 689 | (93.7) | (95.2) | 1.5 | ||||
| Innovative Medicine excluding COVID-19 Vaccine | |||||||||
| U.S. | 8,079 | 7,375 | 9.5 | 9.5 | - | ||||
| International | 5,599 | 5,099 | 9.8 | 9.4 | 0.4 | ||||
| Worldwide | 13,678 | 12,474 | 9.7 | 9.5 | 0.2 | ||||
| Worldwide | |||||||||
| U.S. | 12,009 | 10,820 | 11.0 | 11.0 | - | ||||
| International | 9,386 | 9,119 | 2.9 | 2.7 | 0.2 | ||||
| Worldwide | 21,395 | 19,939 | 7.3 | 7.2 | 0.1 | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | - | - | - | - | - | ||||
| International | 44 | 689 | (93.7) | (95.2) | 1.5 | ||||
| Worldwide | 44 | 689 | (93.7) | (95.2) | 1.5 | ||||
| Worldwide | |||||||||
| U.S. | 12,009 | 10,820 | 11.0 | 11.0 | - | ||||
| International | 9,342 | 8,430 | 10.8 | 10.7 | 0.1 | ||||
| Worldwide excluding COVID-19 Vaccine | $ | 21,351 | 19,250 | 10.9 | % | 10.9 | - | ||
| Note: Columns and rows within tables may not add due to rounding | |||||||||
| Supplemental Sales Reconciliation (Unaudited) | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| (Dollars in Millions) | |||||||||
| TWELVE MONTHS | |||||||||
| % Change | |||||||||
| 2023 | 2022 | Total | Operations | Currency | |||||
| Innovative Medicine | |||||||||
| U.S. | $ | 31,169 | 28,604 | 9.0 | % | 9.0 | - | ||
| International | 23,590 | 23,959 | (1.5) | (0.2) | (1.3) | ||||
| Worldwide | 54,759 | 52,563 | 4.2 | 4.8 | (0.6) | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | - | 120 | * | * | - | ||||
| International | 1,117 | 2,059 | (45.8) | (47.2) | 1.4 | ||||
| Worldwide | 1,117 | 2,179 | (48.8) | (50.1) | 1.3 | ||||
| Innovative Medicine excluding COVID-19 Vaccine | |||||||||
| U.S. | 31,169 | 28,484 | 9.4 | 9.4 | - | ||||
| International | 22,473 | 21,900 | 2.6 | 4.3 | (1.7) | ||||
| Worldwide | 53,642 | 50,384 | 6.5 | 7.2 | (0.7) | ||||
| Worldwide | |||||||||
| U.S. | 46,444 | 41,981 | 10.6 | 10.6 | - | ||||
| International | 38,715 | 38,009 | 1.9 | 3.8 | (1.9) | ||||
| Worldwide | 85,159 | 79,990 | 6.5 | 7.4 | (0.9) | ||||
| COVID-19 Vaccine | |||||||||
| U.S. | - | 120 | * | * | - | ||||
| International | 1,117 | 2,059 | (45.8) | (47.2) | 1.4 | ||||
| Worldwide | 1,117 | 2,179 | (48.8) | (50.1) | 1.3 | ||||
| Worldwide | |||||||||
| U.S. | 46,444 | 41,861 | 10.9 | 10.9 | - | ||||
| International | 37,598 | 35,950 | 4.6 | 6.7 | (2.1) | ||||
| Worldwide excluding COVID-19 Vaccine | $ | 84,042 | 77,811 | 8.0 | % | 9.0 | (1.0) | ||
| Note: Columns and rows within tables may not add due to rounding | |||||||||
| * Percentage greater than 100% or not meaningful |