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):
April 14, 2020
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 |
| 0.250% Notes Due January 2022 | JNJ | New York Stock Exchange |
| 0.650% Notes Due May 2024 | JNJ | New York Stock Exchange |
| 5.50% Notes Due November 2024 | JNJ | New York Stock Exchange |
| 1.150% Notes Due November 2028 | JNJ | New York Stock Exchange |
| 1.650% Notes Due May 2035 | JNJ | New York Stock Exchange |
Item 2.02 Results of Operations and Financial Condition
On April 14, 2020, Johnson & Johnson issued the attached press release announcing its sales and earnings for the first quarter ended March 29, 2020.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description of Exhibit |
|---|---|
| 99.1 | Press Release dated April 14, 2020 for the period ended March 29, 2020 |
| 99.2 | Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the first quarter |
| 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: | April 14, 2020 | By: | /s/ Robert J. Decker, Jr. |
| Robert J. Decker, Jr.<br><br>Controller<br><br>(Principal Accounting Officer) |
Exhibit
Exhibit 99.1
JOHNSON & JOHNSON REPORTS 2020 FIRST-QUARTER RESULTS:
| • | Sales of $20.7 Billion reflecting strong growth of 3.3%, operational growth of 4.8%* and adjusted operational growth of 5.6%*, inclusive of the overall estimated negative impact of the COVID-19 pandemic |
|---|---|
| • | EPS of $2.17 increased 56.1%; adjusted EPS of $2.30 increased 9.5%* |
| --- | --- |
| • | Dividend increase of 6.3% announced |
| --- | --- |
| • | Long term fundamentals remain intact; 2020 Guidance lowered to reflect COVID-19 impact and related investments |
| --- | --- |
New Brunswick, N.J. (April 14, 2020) - Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2020. The Company also announced earlier today that its Board of Directors declared a 6.3% increase in the quarterly dividend rate, from $0.95 per share to $1.01 per share. At the new rate, the indicated dividend on an annual basis is $4.04 per share compared to the previous rate of $3.80 per share.
“With Johnson & Johnson’s century-plus history of leading in times of great challenge, we are mobilizing our resources across the Company in the fight against the COVID-19 pandemic,” said Alex Gorsky, Chairman and Chief Executive Officer. “Johnson & Johnson is built for times like this, and we are leveraging our scientific expertise, operational scale and financial strength in the effort to advance the work on our lead COVID-19 vaccine candidate. We are committed to beginning production at risk imminently and bringing an affordable and accessible vaccine to the public on a not-for-profit basis for emergency pandemic use.”
Mr. Gorsky continued, “I am both proud and amazed at the level of dedication that I have witnessed from our more than 132,000 employees as we have focused on delivering on our commitments and responsibilities to the patients and consumers we serve. Our strong performance in the first quarter reflects the efforts of our teams around the world and the sustainability of our business model. Today, our Board of Directors approved an increase in our quarterly dividend for the 58th consecutive year, underscoring our commitment to delivering value for our shareholders and the confidence we have in our business now and in the future.”
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
REGIONAL SALES RESULTS:
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: values may have been rounded
SEGMENT COMMENTARY:
Consumer Health
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 11.0%* driven primarily by over-the-counter products including TYLENOL and MOTRIN analgesics; upper respiratory products including ZYRTEC; digestive health products and ZARBEE’S NATURALS. Other contributors to growth were LISTERINE mouthwash in oral care products; NEUTROGENA and AVEENO in skin health/beauty products, as well as STAYFREE and o.b. in international women’s health. Consumer Health results across the majority of franchises were positively impacted by the increased demand related to the COVID-19 pandemic.
Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 10.2%* driven by STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, DARZALEX (daratumumab), for the treatment of multiple myeloma, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, OPSUMIT (macitentan), an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA for the treatment of human immunodeficiency virus type 1 (HIV-1) infection. This growth was partially offset by biosimilar and generic competition, with declines primarily in international VELCADE (bortezomib), a proteasome inhibitor for the treatment of multiple myeloma, REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and PROCRIT (epoetin alfa), a treatment for chemotherapy-induced anemia and patients with chronic kidney disease.
Medical Devices
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, declined by 4.8%* driven by the estimated net negative impact of the COVID-19 pandemic and the associated deferral of medical procedures to our Surgery, Orthopaedics, Interventional Solutions and Vision businesses.
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.
| Regulatory<br><br>Approvals | ERLEADA (apalutamide) - European Commission (EC) Approves Expanded Use for Treatment of Patients with Metastatic Hormone-Sensitive Prostate Cancer | (press release) |
|---|---|---|
| STELARA (ustekinumab) - EC Approves Expanded Use for Treatment of Pediatric Patients With Moderate To Severe Plaque Psoriasis | (press release) | |
| Regulatory<br><br>Submissions | Ponesimod - Submission of New Drug Applications to the U.S. Food and Drug Administration (FDA) and European Marketing Authorization for Treatment of Adults with Relapsing Multiple Sclerosis | (press release) |
| DARZALEX (daratumumab) - Submission to U.S. FDA for Combination with carfilzomib and dexamethasone (DKd) For Patients with Relapsed/Refractory Multiple Myeloma | ||
| Other | Lead Vaccine Candidate for COVID-19; Landmark New Partnership with U.S. Department of Health & Human Services; and Commitment to Supply One Billion Vaccines Worldwide for Emergency Pandemic Use; Announced | (press release) |
| XARELTO (rivaroxaban) -Landmark Phase 3 VOYAGER PAD Study of XARELTO Plus Aspirin Shows Significant Benefit in Patients with Symptomatic Peripheral Artery Disease (PAD) after Lower-Extremity Revascularization | (press release) | |
| Rilpivirine And Cabotegravir Results of Phase 3 FLARE Study Demonstrate the Safety and Efficacy of Long-Acting Injectable HIV Treatment Regimen through 96 Weeks | (press release) | |
| Rilpivirine and Cabotegravir 48-week Results of Phase 3b ATLAS-2M Study Demonstrate the Safety and Efficacy of Long-Acting Injectable HIV Treatment Administered Every Two Months | (press release) | |
| JNJ-6372 Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of Non-Small Cell Lung Cancer | (press release) | |
| RPGR Gene Therapy Granted European Medicines Agency PRIME and Advanced Therapy Medicinal Product Designations for X-Linked Retinitis Pigmentosa | (press release) | |
| HEARTLINE launched, the First-of-its-Kind, Virtual Study Designed to Explore if a New iPhone^®^ App and Apple Watch^®^ Can Help Reduce the Risk of Stroke^1^ | (press release) |
^1^ iPhone and Apple Watch are trademarks of their respective owners
FULL-YEAR 2020 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.
The impact of COVID-19, inclusive of the related investments the Company is making to combat the pandemic, is included in the guidance below.
| April 2020 | January 2020 |
|---|
($ in Billions, except EPS)
| Adjusted Operational Sales^1,2^<br><br>Change vs. Prior Year | (3.0%) - 0.5% | 5.0% - 6.0% |
|---|---|---|
| Operational Sales^2^<br><br>Change vs. Prior Year | $79.2 to $82.2<br><br>(3.5%) - 0.0% | $85.8 to $86.6<br><br>4.5% - 5.5% |
| Estimated Reported Sales^3^<br><br>Change vs. Prior Year | $77.5 to $80.5<br><br>(5.5%) - (2.0%) | $85.4 to $86.2<br><br>4.0% - 5.0% |
| Adjusted Operational EPS (Diluted)^2,4^<br><br>Change vs. Prior Year | $7.65 to $80.5<br><br>(11.9%) - (7.3%) | $9.00 to $9.15<br><br>3.7% - 5.4% |
| Adjusted EPS (Diluted)^3,4^<br><br>Change vs. Prior Year | $7.50 to $7.90<br><br>(13.6%) - (9.0%) | $8.95 to $9.10<br><br>3.1% - 4.8% |
^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: April 2020 = $1.09 Euro Average Rate: January 2020 = $1.11 (Illustrative purposes only)
^4^Non-GAAP financial measure; excludes intangible amortization expense and special items
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 130 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. 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: 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, 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. 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 December 29, 2019, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the Company’s most recently filed Quarterly Report on Form 10-Q and the Company’s subsequent 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:
Cristal Downing Christopher DelOrefice Lisa Romanko
(732) 524-3283 (732) 524-2955 (732) 524-2034
(908) 616-8833 (M)
Exhibit
Exhibit 99.2
| Johnson & Johnson and Subsidiaries | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Supplementary Sales Data | |||||||||
| (Unaudited; Dollars in Millions) | FIRST QUARTER | ||||||||
| Percent Change | |||||||||
| 2020 | 2019 | Total | Operations | Currency | |||||
| Sales to customers by | |||||||||
| geographic area | |||||||||
| U.S. | $ 10,699 | 10,129 | 5.6 | % | 5.6 | — | |||
| Europe | 4,827 | 4,609 | 4.7 | 7.5 | (2.8 | ) | |||
| Western Hemisphere excluding U.S. | 1,502 | 1,503 | (0.1 | ) | 8.5 | (8.6 | ) | ||
| Asia-Pacific, Africa | 3,663 | 3,780 | (3.1 | ) | (1.9 | ) | (1.2 | ) | |
| International | 9,992 | 9,892 | 1.0 | 4.0 | (3.0 | ) | |||
| Worldwide | $ 20,691 | 20,021 | 3.3 | % | 4.8 | (1.5 | ) | ||
| 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) | FIRST QUARTER | |||||||
| Percent Change | ||||||||
| 2020 | 2019 | Total | Operations | Currency | ||||
| Sales to customers by | ||||||||
| segment of business | ||||||||
| Consumer Health | ||||||||
| U.S. | $ 1,740 | 1,438 | 21.0 | % | 21.0 | — | ||
| International | 1,885 | 1,880 | 0.3 | 3.9 | (3.6 | ) | ||
| 3,625 | 3,318 | 9.2 | 11.3 | (2.1 | ) | |||
| Pharmaceutical | ||||||||
| U.S. | 6,061 | 5,582 | 8.6 | 8.6 | — | |||
| International | 5,073 | 4,662 | 8.8 | 12.0 | (3.2 | ) | ||
| 11,134 | 10,244 | 8.7 | 10.1 | (1.4 | ) | |||
| Medical Devices | ||||||||
| U.S. | 2,898 | 3,109 | (6.8 | ) | (6.8) | — | ||
| International | 3,034 | 3,350 | (9.4 | ) | (6.9) | (2.5 | ) | |
| 5,932 | 6,459 | (8.2 | ) | (6.9) | (1.3 | ) | ||
| U.S. | 10,699 | 10,129 | 5.6 | 5.6 | — | |||
| International | 9,992 | 9,892 | 1.0 | 4.0 | (3.0 | ) | ||
| Worldwide | $ 20,691 | 20,021 | 3.3 | % | 4.8 | (1.5 | ) | |
| Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. |
| Johnson & Johnson and Subsidiaries | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Condensed Consolidated Statement of Earnings | ||||||||||
| (Unaudited; in Millions Except Per Share Figures) | FIRST QUARTER | |||||||||
| 2020 | 2019 | Percent | ||||||||
| Percent | Percent | Increase | ||||||||
| Amount | to Sales | Amount | to Sales | (Decrease) | ||||||
| Sales to customers | 20,691 | 100.0 | 20,021 | 100.0 | 3.3 | |||||
| Cost of products sold | 7,062 | 34.1 | 6,615 | 33.0 | 6.8 | |||||
| Gross Profit | 13,629 | 65.9 | 13,406 | 67.0 | 1.7 | |||||
| Selling, marketing and administrative expenses | 5,203 | 25.1 | 5,219 | 26.1 | (0.3 | ) | ||||
| Research and development expense | 2,580 | 12.5 | 2,858 | 14.3 | (9.7 | ) | ||||
| In-process research and development | — | — | 890 | 4.4 | ||||||
| Interest (income) expense, net | (42 | (0.2 | ) | 3 | 0.0 | |||||
| Other (income) expense, net | (679 | (3.3 | ) | (22 | (0.1 | ) | ||||
| Restructuring | 58 | 0.3 | 36 | 0.2 | ||||||
| Earnings before provision for taxes on income | 6,509 | 31.5 | 4,422 | 22.1 | 47.2 | |||||
| Provision for taxes on income | 713 | 3.5 | 673 | 3.4 | 5.9 | |||||
| Net earnings | 5,796 | 28.0 | 3,749 | 18.7 | 54.6 | |||||
| Net earnings per share (Diluted) | 2.17 | 1.39 | 56.1 | |||||||
| Average shares outstanding (Diluted) | 2,671.0 | 2,698.8 | ||||||||
| Effective tax rate | 11.0 | % | 15.2 | % | ||||||
| Adjusted earnings before provision for taxes and net earnings^(1) (A)^ | ||||||||||
| Earnings before provision for taxes on income | 7,244 | 35.0 | 6,867 | 34.3 | 5.5 | |||||
| Net earnings | 6,154 | 29.7 | 5,661 | 28.3 | 8.7 | |||||
| Net earnings per share (Diluted) | 2.30 | 2.10 | 9.5 | |||||||
| Effective tax rate | 15.0 | % | 17.6 | % | ||||||
| ^(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 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, 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. |
All values are in US Dollars.
| Johnson & Johnson and Subsidiaries | ||
|---|---|---|
| Reconciliation of Non-GAAP Financial Measures | ||
| (Dollars in Millions Except Per Share Data) | 2019 | |
| Net Earnings, after tax- as reported | 3,749 | |
| Pre-tax Adjustments | ||
| Intangible Asset Amortization expense | 1,130 | |
| Litigation expense | 423 | |
| IPR&D | 890 | |
| Restructuring related | 90 | |
| Acquisition and Integration related 1 | 67 | |
| Unrealized (gains)/losses on securities | (158 | |
| Medical Device Regulation 2 | — | |
| Other | 3 | |
| Tax Adjustments | ||
| Tax impact on special item adjustments 3 | (533 | |
| Tax legislation and related impacts | — | |
| Adjusted Net Earnings, after tax | 5,661 | |
| Average shares outstanding (Diluted) | 2,698.8 | |
| Adjusted net earnings per share (Diluted) | 2.10 | |
| Operational adjusted net earnings per share (Diluted) | ||
| Notes: | ||
| 1 Acquisition and integration related costs for the first quarter of 2020 primarily includes a 983M Contingent Consideration reversal related to the timing of certain developmental milestones associated with the Auris Health 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 are 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 Medical Devices operating segments' measures of profit and loss used for making operating decisions and assessing performance. | ||
| 3 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)^ | ||||
| FIRST QUARTER 2020 ACTUAL vs. 2019 ACTUAL | ||||
| Segments | ||||
| Consumer Health | Pharmaceutical | Medical Devices | Total | |
| WW As Reported | 9.2% | 8.7% | (8.2)% | 3.3% |
| U.S. | 21.0% | 8.6% | (6.8)% | 5.6% |
| International | 0.3% | 8.8% | (9.4)% | 1.0% |
| WW Currency | (2.1) | (1.4) | (1.3) | (1.5) |
| U.S. | — | — | — | — |
| International | (3.6) | (3.2) | (2.5) | (3.0) |
| WW Operational | 11.3% | 10.1% | (6.9)% | 4.8% |
| U.S. | 21.0% | 8.6% | (6.8)% | 5.6% |
| International | 3.9% | 12.0% | (6.9)% | 4.0% |
| Skin Health / Beauty | ||||
| Dr. Ci Labo - Japan | (0.4) | (0.1) | ||
| U.S. | 0.0 | 0.0 | ||
| International | (0.7) | (0.1) | ||
| General Surgery | ||||
| Advanced Sterilization Products | 2.1 | 0.8 | ||
| U.S. | 2.7 | 0.9 | ||
| International | 1.6 | 0.6 | ||
| Baby Care | ||||
| Baby Center | 0.3 | 0.0 | ||
| U.S. | 0.8 | 0.1 | ||
| International | 0.0 | 0.0 | ||
| All Other Acquisitions and Divestitures | (0.2) | 0.1 | (0.1) | 0.0 |
| U.S. | 0.0 | 0.1 | (0.2) | 0.0 |
| International | (0.3) | 0.0 | 0.1 | 0.0 |
| WW Adjusted Operational | 11.0% | 10.2% | (4.8)% | 5.6% |
| U.S. | 21.7% | 8.7% | (4.3)% | 6.7% |
| International | 2.8% | 12.0% | (5.3)% | 4.5% |
| 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) | |||||||||
| FIRST QUARTER | |||||||||
| % Change | |||||||||
| 2020 | 2019 | Reported | Operational^(1)^ | Currency | |||||
| CONSUMER HEALTH SEGMENT^(2) (3)^ | |||||||||
| BABY CARE | |||||||||
| US | $ | 92 | 87 | 6.7 | % | 6.7 | % | — | % |
| Intl | 269 | 307 | (12.4 | ) | (8.2 | ) | (4.2 | ) | |
| WW | 361 | 394 | (8.2 | ) | (4.9 | ) | (3.3 | ) | |
| SKIN HEALTH / BEAUTY ^(4)^ | |||||||||
| US | 659 | 588 | 12.1 | 12.1 | — | ||||
| Intl | 458 | 502 | (8.8 | ) | (6.5 | ) | (2.3 | ) | |
| WW | 1,117 | 1,090 | 2.5 | 3.5 | (1.0 | ) | |||
| ORAL CARE | |||||||||
| US | 176 | 151 | 16.2 | 16.2 | — | ||||
| Intl | 219 | 216 | 1.5 | 5.3 | (3.8 | ) | |||
| WW | 395 | 367 | 7.6 | 9.8 | (2.2 | ) | |||
| OTC | |||||||||
| US | 689 | 507 | 35.9 | 35.9 | — | ||||
| Intl | 659 | 580 | 13.7 | 17.0 | (3.3 | ) | |||
| WW | 1,348 | 1,087 | 24.1 | 25.8 | (1.7 | ) | |||
| WOMEN'S HEALTH | |||||||||
| US | 4 | 3 | 32.0 | 32.0 | — | ||||
| Intl | 228 | 222 | 2.5 | 8.9 | (6.4 | ) | |||
| WW | 232 | 225 | 2.9 | 9.2 | (6.3 | ) | |||
| WOUND CARE / OTHER | |||||||||
| US | 119 | 102 | 17.0 | 17.0 | — | ||||
| Intl | 52 | 53 | (1.2 | ) | 1.9 | (3.1 | ) | ||
| WW | 171 | 155 | 10.7 | 11.8 | (1.1 | ) | |||
| TOTAL CONSUMER HEALTH | |||||||||
| US | 1,740 | 1,438 | 21.0 | 21.0 | — | ||||
| Intl | 1,885 | 1,880 | 0.3 | 3.9 | (3.6 | ) | |||
| WW | $ | 3,625 | 3,318 | 9.2 | % | 11.3 | % | (2.1 | )% |
| See footnotes at end of schedule |
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FIRST QUARTER | |||||||||
| % Change | |||||||||
| 2020 | 2019 | Reported | Operational^(1)^ | Currency | |||||
| PHARMACEUTICAL SEGMENT^(2)^ | |||||||||
| IMMUNOLOGY | |||||||||
| US | $ | 2,410 | 2,163 | 11.4 | % | 11.4 | % | — | % |
| Intl | 1,228 | 1,088 | 12.8 | 16.3 | (3.5 | ) | |||
| WW | 3,638 | 3,251 | 11.9 | 13.1 | (1.2 | ) | |||
| REMICADE | |||||||||
| US | 625 | 774 | (19.3 | ) | (19.3 | ) | — | ||
| US Exports^(5)^ | 110 | 76 | 44.3 | 44.3 | — | ||||
| Intl | 256 | 252 | 1.5 | 5.2 | (3.7 | ) | |||
| WW | 990 | 1,102 | (10.2 | ) | (9.3 | ) | (0.9 | ) | |
| SIMPONI / SIMPONI ARIA | |||||||||
| US | 272 | 263 | 3.4 | 3.4 | — | ||||
| Intl | 258 | 261 | (1.2 | ) | 2.6 | (3.8 | ) | ||
| WW | 529 | 524 | 1.1 | 3.0 | (1.9 | ) | |||
| STELARA | |||||||||
| US | 1,217 | 882 | 37.9 | 37.9 | — | ||||
| Intl | 603 | 523 | 15.2 | 18.3 | (3.1 | ) | |||
| WW | 1,819 | 1,405 | 29.5 | 30.6 | (1.1 | ) | |||
| TREMFYA | |||||||||
| US | 187 | 168 | 11.5 | 11.5 | — | ||||
| Intl | 109 | 49 | * | * | * | ||||
| WW | 296 | 217 | 36.4 | 37.3 | (0.9 | ) | |||
| OTHER IMMUNOLOGY | |||||||||
| US | — | — | — | — | — | ||||
| Intl | 3 | 3 | (6.9 | ) | (5.6 | ) | (1.3 | ) | |
| WW | 3 | 3 | (6.9 | ) | (5.6 | ) | (1.3 | ) | |
| INFECTIOUS DISEASES | |||||||||
| US | 436 | 357 | 22.3 | 22.3 | — | ||||
| Intl | 483 | 489 | (1.2 | ) | 2.7 | (3.9 | ) | ||
| WW | 920 | 846 | 8.7 | 11.0 | (2.3 | ) | |||
| EDURANT / rilpivirine | |||||||||
| US | 12 | 12 | 0.6 | 0.6 | — | ||||
| Intl | 212 | 199 | 6.4 | 9.2 | (2.8 | ) | |||
| WW | 224 | 211 | 6.1 | 8.7 | (2.6 | ) | |||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||
| US | 396 | 315 | 25.5 | 25.5 | — | ||||
| Intl | 184 | 208 | (11.6 | ) | (6.4 | ) | (5.2 | ) | |
| WW | 579 | 523 | 10.8 | 12.8 | (2.0 | ) | |||
| OTHER INFECTIOUS DISEASES | |||||||||
| US | 29 | 30 | (3.4 | ) | (3.4 | ) | — | ||
| Intl | 87 | 82 | 6.7 | 10.2 | (3.5 | ) | |||
| WW | 116 | 112 | 4.0 | 6.6 | (2.6 | ) | |||
| See footnotes at end of schedule |
| Johnson & Johnson | ||||||||
|---|---|---|---|---|---|---|---|---|
| Segment Sales | ||||||||
| (Dollars in Millions) | ||||||||
| FIRST QUARTER | ||||||||
| % Change | ||||||||
| 2020 | 2019 | Reported | Operational ^(1)^ | Currency | ||||
| PHARMACEUTICAL SEGMENT (2) (Continued) | ||||||||
| NOSCIENCE | ||||||||
| US | 748 | 723 | 3.3 | % | 3.3 | % | — | % |
| Intl | 910 | 905 | 0.5 | 3.0 | (2.5 | ) | ||
| WW | 1,658 | 1,629 | 1.8 | 3.1 | (1.3 | ) | ||
| CONCERTA / methylphenidate | ||||||||
| US | 52 | 97 | (46.1 | ) | (46.1 | ) | — | |
| Intl | 118 | 116 | 1.5 | 3.6 | (2.1 | ) | ||
| WW | 171 | 214 | (20.1 | ) | (19.0 | ) | (1.1 | ) |
| INVEGA SUSTENNA / XEPLION / INVEGA | ||||||||
| TRINZA / TREVICTA | ||||||||
| US | 544 | 483 | 12.6 | 12.6 | — | |||
| Intl | 339 | 307 | 10.3 | 13.2 | (2.9 | ) | ||
| WW | 883 | 790 | 11.7 | 12.9 | (1.2 | ) | ||
| RISPERDAL CONSTA | ||||||||
| US | 76 | 77 | (0.3 | ) | (0.3 | ) | — | |
| Intl | 94 | 102 | (8.7 | ) | (5.9 | ) | (2.8 | ) |
| WW | 170 | 179 | (5.1 | ) | (3.5 | ) | (1.6 | ) |
| OTHER NOSCIENCE | ||||||||
| US | 75 | 66 | 12.5 | 12.5 | — | |||
| Intl | 360 | 379 | (5.1 | ) | (3.1 | ) | (2.0 | ) |
| WW | 435 | 446 | (2.5 | ) | (0.8 | ) | (1.7 | ) |
| ONCOLOGY | ||||||||
| US | 1,175 | 962 | 22.1 | 22.1 | — | |||
| Intl | 1,839 | 1,556 | 18.2 | 21.7 | (3.5 | ) | ||
| WW | 3,013 | 2,518 | 19.7 | 21.8 | (2.1 | ) | ||
| DARZALEX | ||||||||
| US | 463 | 352 | 31.8 | 31.8 | — | |||
| Intl | 474 | 277 | 70.9 | 76.8 | (5.9 | ) | ||
| WW | 937 | 629 | 49.0 | 51.6 | (2.6 | ) | ||
| ERLEADA (6) | ||||||||
| US | 119 | 58 | * | * | — | |||
| Intl | 24 | 3 | * | * | * | |||
| WW | 143 | 61 | * | * | * | |||
| IMBRUVICA | ||||||||
| US | 432 | 349 | 23.9 | 23.9 | — | |||
| Intl | 599 | 435 | 37.8 | 42.3 | (4.5 | ) | ||
| WW | 1,031 | 784 | 31.6 | 34.1 | (2.5 | ) | ||
| VELCADE | ||||||||
| US | — | — | — | — | — | |||
| Intl | 108 | 263 | (59.0 | ) | (58.2 | ) | (0.8 | ) |
| WW | 108 | 263 | (59.0 | ) | (58.2 | ) | (0.8 | ) |
| ZYTIGA / abiraterone acetate | ||||||||
| US | 139 | 185 | (25.2 | ) | (25.2 | ) | — | |
| Intl | 552 | 494 | 11.7 | 14.3 | (2.6 | ) | ||
| WW | 690 | 679 | 1.6 | 3.5 | (1.9 | ) | ||
| OTHER ONCOLOGY (6) | ||||||||
| US | 22 | 18 | 20.1 | 20.1 | — | |||
| Intl | 82 | 84 | (2.7 | ) | 0.6 | (3.3 | ) | |
| WW | 104 | 102 | 1.3 | 4.1 | (2.8 | ) | ||
| See footnotes at end of schedule |
All values are in Euros.
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FIRST QUARTER | |||||||||
| % Change | |||||||||
| 2020 | 2019 | Reported | Operational ^(1)^ | Currency | |||||
| PHARMACEUTICAL SEGMENT^(2) (Continued)^ | |||||||||
| PULMONARY HYPERTENSION | |||||||||
| US | $ | 486 | 430 | 13.0 | % | 13.0 | % | — | % |
| Intl | 260 | 226 | 14.9 | 17.8 | (2.9 | ) | |||
| WW | 745 | 656 | 13.7 | 14.7 | (1.0 | ) | |||
| OPSUMIT | |||||||||
| US | 229 | 172 | 33.0 | 33.0 | — | ||||
| Intl | 160 | 133 | 20.2 | 23.3 | (3.1 | ) | |||
| WW | 389 | 306 | 27.4 | 28.8 | (1.4 | ) | |||
| UPTRAVI | |||||||||
| US | 212 | 176 | 20.7 | 20.7 | — | ||||
| Intl | 38 | 22 | 70.2 | 75.0 | (4.8 | ) | |||
| WW | 250 | 198 | 26.2 | 26.8 | (0.6 | ) | |||
| OTHER PULMONARY HYPERTENSION ^(6)^ | |||||||||
| US | 44 | 82 | (45.9 | ) | (45.9 | ) | — | ||
| Intl | 62 | 71 | (12.4 | ) | (10.7 | ) | (1.7 | ) | |
| WW | 106 | 152 | (30.4 | ) | (29.6 | ) | (0.8 | ) | |
| See footnotes at end of schedule |
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FIRST QUARTER | |||||||||
| % Change | |||||||||
| 2020 | 2019 | Reported | Operational ^(1)^ | Currency | |||||
| PHARMACEUTICAL SEGMENT^(2) (Continued)^ | |||||||||
| CARDIOVASCULAR / METABOLISM / OTHER | |||||||||
| US | $ | 806 | 947 | (14.9 | )% | (14.9 | )% | — | % |
| Intl | 354 | 398 | (11.0 | ) | (8.7 | ) | (2.3 | ) | |
| WW | 1,160 | 1,345 | (13.8 | ) | (13.1 | ) | (0.7 | ) | |
| XARELTO | |||||||||
| US | 527 | 542 | (2.7 | ) | (2.7 | ) | — | ||
| Intl | — | — | — | — | — | ||||
| WW | 527 | 542 | (2.7 | ) | (2.7 | ) | — | ||
| INVOKANA / INVOKAMET | |||||||||
| US | 117 | 154 | (23.6 | ) | (23.6 | ) | — | ||
| Intl | 58 | 49 | 18.6 | 20.9 | (2.3 | ) | |||
| WW | 175 | 202 | (13.5 | ) | (12.9 | ) | (0.6 | ) | |
| PROCRIT / EPREX | |||||||||
| US | 76 | 148 | (48.5 | ) | (48.5 | ) | — | ||
| Intl | 79 | 78 | 0.4 | 1.9 | (1.5 | ) | |||
| WW | 155 | 226 | (31.6 | ) | (31.0 | ) | (0.6 | ) | |
| OTHER | |||||||||
| US | 85 | 104 | (18.0 | ) | (18.0 | ) | — | ||
| Intl | 217 | 271 | (19.7 | ) | (17.1 | ) | (2.6 | ) | |
| WW | 302 | 374 | (19.2 | ) | (17.4 | ) | (1.8 | ) | |
| TOTAL PHARMACEUTICAL | |||||||||
| US | 6,061 | 5,582 | 8.6 | 8.6 | — | ||||
| Intl | 5,073 | 4,662 | 8.8 | 12.0 | (3.2 | ) | |||
| WW | $ | 11,134 | 10,244 | 8.7 | % | 10.1 | % | (1.4 | )% |
| See footnotes at end of schedule |
| Johnson & Johnson | ||||||||
|---|---|---|---|---|---|---|---|---|
| Segment Sales | ||||||||
| (Dollars in Millions) | ||||||||
| FIRST QUARTER | ||||||||
| % Change | ||||||||
| 2020 | 2019 | Reported | Operational ^(1)^ | Currency | ||||
| MEDICAL DEVICES SEGMENT ^(2)^ | ||||||||
| INTERVENTIONAL SOLUTIONS | ||||||||
| US | 365 | 343 | 6.6 | % | 6.6 | % | — | % |
| Intl | 362 | 389 | (6.9 | ) | (5.1 | ) | (1.8 | ) |
| WW | 727 | 732 | (0.6 | ) | 0.4 | (1.0 | ) | |
| ORTHOPAEDICS | ||||||||
| US | 1,250 | 1,318 | (5.2 | ) | (5.2 | ) | — | |
| Intl | 788 | 885 | (11.0 | ) | (8.5 | ) | (2.5 | ) |
| WW | 2,038 | 2,204 | (7.5 | ) | (6.5 | ) | (1.0 | ) |
| HIPS | ||||||||
| US | 206 | 213 | (3.6 | ) | (3.6 | ) | — | |
| Intl | 132 | 148 | (11.2 | ) | (8.4 | ) | (2.8 | ) |
| WW | 337 | 361 | (6.7 | ) | (5.6 | ) | (1.1 | ) |
| KNEES | ||||||||
| US | 214 | 223 | (4.2 | ) | (4.2 | ) | — | |
| Intl | 130 | 146 | (11.4 | ) | (8.9 | ) | (2.5 | ) |
| WW | 343 | 369 | (7.0 | ) | (6.1 | ) | (0.9 | ) |
| TRAUMA | ||||||||
| US | 407 | 417 | (2.3 | ) | (2.3 | ) | — | |
| Intl | 247 | 268 | (8.0 | ) | (5.3 | ) | (2.7 | ) |
| WW | 654 | 685 | (4.5 | ) | (3.5 | ) | (1.0 | ) |
| SPINE, SPORTS & OTHER ^(7)^ | ||||||||
| US | 423 | 465 | (8.9 | ) | (8.9 | ) | — | |
| Intl | 280 | 323 | (13.3 | ) | (11.1 | ) | (2.2 | ) |
| WW | 703 | 788 | (10.7 | ) | (9.8 | ) | (0.9 | ) |
| See footnotes at end of schedule |
| Johnson & Johnson | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Segment Sales | |||||||||
| (Dollars in Millions) | |||||||||
| FIRST QUARTER | |||||||||
| % Change | |||||||||
| 2020 | 2019 | Reported | Operational ^(1)^ | Currency | |||||
| MEDICAL DEVICES SEGMENT ^(2) (Continued)^ | |||||||||
| SURGERY | |||||||||
| US | $ | 844 | 1,001 | (15.7 | )% | (15.7 | )% | — | % |
| Intl | 1,257 | 1,394 | (9.8 | ) | (6.7 | ) | (3.1 | ) | |
| WW | 2,100 | 2,395 | (12.3 | ) | (10.5 | ) | (1.8 | ) | |
| ADVANCED | |||||||||
| US | 381 | 404 | (5.7 | ) | (5.7 | ) | — | ||
| Intl | 567 | 576 | (1.6 | ) | 1.6 | (3.2 | ) | ||
| WW | 948 | 980 | (3.3 | ) | (1.4 | ) | (1.9 | ) | |
| ^^GENERAL ^(6)^ | |||||||||
| US | 463 | 597 | (22.5 | ) | (22.5 | ) | — | ||
| Intl | 690 | 818 | (15.7 | ) | (12.6 | ) | (3.1 | ) | |
| WW | 1,153 | 1,414 | (18.5 | ) | (16.8 | ) | (1.7 | ) | |
| VISION | |||||||||
| US | 439 | 446 | (1.6 | ) | (1.6 | ) | — | ||
| Intl | 628 | 682 | (8.0 | ) | (6.4 | ) | (1.6 | ) | |
| WW | 1,067 | 1,129 | (5.5 | ) | (4.5 | ) | (1.0 | ) | |
| ^^CONTACT LENSES / OTHER | |||||||||
| US | 346 | 321 | 7.7 | 7.7 | — | ||||
| Intl | 467 | 502 | (7.0 | ) | (5.4 | ) | (1.6 | ) | |
| WW | 814 | 824 | (1.3 | ) | (0.3 | ) | (1.0 | ) | |
| ^^SURGICAL | |||||||||
| US | 93 | 125 | (25.5 | ) | (25.5 | ) | — | ||
| Intl | 160 | 180 | (11.0 | ) | (9.2 | ) | (1.8 | ) | |
| WW | 253 | 305 | (16.9 | ) | (15.9 | ) | (1.0 | ) | |
| TOTAL MEDICAL DEVICES | |||||||||
| US | 2,898 | 3,109 | (6.8 | ) | (6.8 | ) | — | ||
| Intl | 3,034 | 3,350 | (9.4 | ) | (6.9 | ) | (2.5 | ) | |
| WW | $ | 5,932 | 6,459 | (8.2 | )% | (6.9 | )% | (1.3 | )% |
| 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)^ Previously referred to as Consumer | |||||||||
| ^(4)^ Previously referred to as Beauty | |||||||||
| ^(5)^ Reported as U.S. sales | |||||||||
| ^(6)^ Refer to supplemental schedule | |||||||||
| ^(7)^ Previously referred to as Spine & Other |
| Johnson & Johnson | ||||||
|---|---|---|---|---|---|---|
| Supplemental Sales Information | ||||||
| (Dollars in Millions) | ||||||
| Prior quarter amounts have been reclassified to | ||||||
| conform to current quarter products disclosure | ||||||
| 2018 | 2019 | 2019 | ||||
| Full Year | Q1 | Q2 | Q3 | Q4 | Full Year | |
| PHARMACEUTICAL SEGMENT^(1)^ | ||||||
| ERLEADA^(2)^ | ||||||
| US | 124 | 58 | 62 | 74 | 103 | 297 |
| Intl | — | 3 | 7 | 12 | 13 | 35 |
| WW | 124 | 61 | 69 | 86 | 116 | 332 |
| OTHER ONCOLOGY^(2)^ | ||||||
| US | 104 | 18 | 16 | 17 | 19 | 70 |
| Intl | 362 | 84 | 85 | 83 | 84 | 336 |
| WW | 466 | 102 | 101 | 100 | 104 | 407 |
| PULMONARY HYPERTENSION | ||||||
| OTHER PAH^(3)^ | ||||||
| US | 353 | 82 | 61 | 36 | 26 | 205 |
| Intl | 342 | 71 | 78 | 61 | 62 | 272 |
| WW | 695 | 152 | 140 | 96 | 88 | 476 |
| MEDICAL DEVICES SEGMENT^(1)^ | ||||||
| GENERAL SURGERY^(4)^ | ||||||
| US | 2,468 | 597 | 530 | 531 | 534 | 2,192 |
| Intl | 3,431 | 818 | 794 | 769 | 834 | 3,215 |
| WW | 5,899 | 1,414 | 1,325 | 1,301 | 1,366 | 5,406 |
| Note: Columns and rows within tables may not add due to rounding. | ||||||
| ^(1)^ Unaudited | ||||||
| ^(2)^ ERLEADA was previously included in Other Oncology | ||||||
| ^(3)^ Other PAH is inclusive of TRACLEER, which was previously disclosed separately | ||||||
| ^(4)^ General Surgery is inclusive of Specialty Surgery, which was previously disclosed separately |