Document

Exhibit 99.1

JOHNSON & JOHNSON REPORTS 2019 FOURTH-QUARTER AND FULL YEAR RESULTS:


•	2019 Fourth-Quarter Sales of $20.7 Billion reflecting growth of 1.7%, operational growth of 2.6%* and adjusted operational growth of 3.4%*


•	2019 Full-Year Sales of $82.1 Billion reflecting growth of 0.6%, operational growth of 2.8%* and adjusted operational growth of 4.5%*


•	2019 Fourth-Quarter EPS of $1.50 increased 33.9%; adjusted EPS of $1.88 decreased 4.6%*


•	2019 Full-Year EPS of $5.63 increased 0.4%; adjusted EPS of $8.68 increased 6.1%*


•	Company projects continued sales and earnings growth in 2020 guidance

New Brunswick, N.J. (January 22, 2020) - Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2019. “We delivered strong underlying sales and earnings growth in 2019, driven by the strength of our Pharmaceutical business, accelerating performance in our Medical Devices business and improved profitability in our Consumer business,” said Alex Gorsky, Chairman and Chief Executive Officer. “As we enter into 2020 and this next decade, our strategic investments focused on advancing our pipelines and driving innovation across our entire product portfolio, position us well to deliver long-term sustainable growth and value to our shareholders.”

Mr. Gorsky continued, “I am extremely proud of our talented and dedicated colleagues who live Our Credo values each and every day, and are inspired to deliver transformative healthcare solutions that improve the lives of our patients and consumers around the world.”

OVERALL FINANCIAL RESULTS:

¹Non-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:

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: values may have been rounded

FULL-YEAR 2019 SEGMENT COMMENTARY:

Consumer

Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 1.4%* driven by NEUTROGENA beauty products and over-the-counter products including TYLENOL and MOTRIN analgesics, partially offset by lower sales of baby care products.

Pharmaceutical

Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 5.8%* 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, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, and ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer. This growth was partially offset by biosimilar and generic competition, primarily declines in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, U.S. ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer and international VELCADE (bortezomib), a proteasome inhibitor for the treatment of multiple myeloma.

Medical Devices

Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 3.9%* driven by electrophysiology products in the Interventional Solutions business, international energy and endocutter products in the Advanced Surgery business, and ACUVUE contact lenses in the Vision business.

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 Approvals	DARZALEX (daratumumab) - European Commission Approves Combination with Bortezomib, Thalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Eligible¹	(press release)
	SPRAVATO (esketamine) Nasal Spray - Approved in Europe for Adults with Treatment-Resistant Major Depressive Disorder	(press release)
	DARZALEX (daratumumab) - European Commission Approves Combination with Lenalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Ineligible	(press release)
	STELARA (ustekinumab) - U.S. FDA Approval for the Treatment of Adults with Moderately to Severely Active Ulcerative Colitis	(press release)
Regulatory Submissions	SPRAVATO (esketamine) - Submission of a Type II Variation Application to the European Medicines Agency (EMA) Seeking Expanded Use as a Treatment for Depressive Symptoms in Adults with Major Depressive Disorder Who Have Current Suicidal Ideation with Intent¹	(press release)
	IMBRUVICA (ibrutinib) - Supplemental NDA Submitted to U.S. FDA and Type II Variation Submitted to EMA¹ Seeking Approval of Combination with Rituximab for Previously Untreated Patients with CLL	(press release) (press release)
	Ebola Vaccine Regimen - Submission of MAA to EMA for Prevention of Ebola Virus Disease (EVD) caused by Zaire Ebolavirus Species.	(press release)
	TREMFYA (guselkumab) - Submission of a Type II Variation Application to the EMA Seeking to Expand Use in the Treatment of Adults with Active Psoriatic Arthritis	(press release)
Other	Completion of Acquisition of Bermekimab, an investigational compound for multiple dermatological indications, from XBiotech Inc.¹	(press release)
	Rilpivirine and Cabotegravir - U.S. FDA issues Complete Response Letter Issued for Investigational Two-Drug Long-Acting HIV Regimen	(press release)
	Completion of Acquisition of TARIS Biomedical with Focus on Transforming the Treatment of Bladder Cancer	(press release)
	Agreement Announced to Acquire Remaining Stake in Verb Surgical Inc.	(press release)
	BCMA CAR-T Therapy Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of Relapsed or Refractory Multiple Myeloma	(press release)
	J&J Vision Introduces TECNIS Toric II 1-Piece IOL as New Monofocal Option for Cataract Patients with Astigmatism	(press release)
	Ethicon Launches VISTASEAL Fibrin Sealant (Human) To Manage Bleeding During Surgery	(press release)
	New Cervical Spine System from DePuy Synthes Advances Treatment Options for Patients with Complex Cervical Spine Disorders	(press release)

¹ Subsequent to the quarter

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.



	January 2020

($ in Billions, except EPS)



Adjusted Operational Sales^1,2 Change vs. Prior Year	5.0% - 6.0%
Operational Sales² Change vs. Prior Year	$85.8 to $86.6 4.5% - 5.5%
Estimated Reported Sales³ Change vs. Prior Year	$85.4 to $86.2 4.0% - 5.0%

Adjusted Operational EPS (Diluted)^2,4 Change vs. Prior Year	$9.00 to $9.15 3.7% - 5.4%
Adjusted EPS (Diluted)^3,4 Change vs. Prior Year	$8.95 to $9.10 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: January 2020 = $1.11 (Illustrative purposes only)

⁴Non-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 8:00 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: 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 30, 2018, 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

(732) 524-3283 (732) 524-2955

(908) 616-8833 (M)

Lesley Fishman

(732) 524-3922

Exhibit 99.2



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	FOURTH QUARTER
			Percent Change
	2019	2018	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 10,774	10,629	1.4	%	1.4	—

Europe	4,663	4,730	(1.4)		1.0	(2.4)
Western Hemisphere excluding U.S.	1,495	1,456	2.6		9.3	(6.7)
Asia-Pacific, Africa	3,815	3,579	6.6		5.8	0.8
International	9,973	9,765	2.1		4.0	(1.9)

Worldwide	$ 20,747	20,394	1.7	%	2.6	(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)	TWELVE MONTHS
			Percent Change
	2019	2018	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 42,097	41,884	0.5	%	0.5	—

Europe	18,466	18,753	(1.5)		3.8	(5.3)
Western Hemisphere excluding U.S.	5,941	6,113	(2.8)		5.7	(8.5)
Asia-Pacific, Africa	15,555	14,831	4.9		6.9	(2.0)
International	39,962	39,697	0.7		5.3	(4.6)

Worldwide	$ 82,059	81,581	0.6	%	2.8	(2.2)

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
	2019	2018	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,470	1,479	(0.6)	%	(0.6)	—
International	2,097	2,057	2.0		4.0	(2.0)
	3,567	3,536	0.9		2.1	(1.2)

Pharmaceutical
U.S.	6,169	5,936	3.9		3.9	—
International	4,379	4,254	2.9		5.1	(2.2)
	10,548	10,190	3.5		4.4	(0.9)

Medical Devices
U.S.	3,135	3,214	(2.4)		(2.4)	—
International	3,497	3,454	1.3		2.7	(1.4)
	6,632	6,668	(0.5)		0.2	(0.7)

U.S.	10,774	10,629	1.4		1.4	—
International	9,973	9,765	2.1		4.0	(1.9)
Worldwide	$ 20,747	20,394	1.7	%	2.6	(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)	TWELVE MONTHS
			Percent Change
	2019	2018	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 5,839	5,761	1.4	%	1.4	—
International	8,059	8,092	(0.4)		4.2	(4.6)
	13,898	13,853	0.3		3.0	(2.7)

Pharmaceutical
U.S.	23,874	23,286	2.5		2.5	—
International	18,324	17,448	5.0		10.1	(5.1)
	42,198	40,734	3.6		5.8	(2.2)

Medical Devices
U.S.	12,384	12,837	(3.5)		(3.5)	—
International	13,579	14,157	(4.1)		(0.1)	(4.0)
	25,963	26,994	(3.8)		(1.7)	(2.1)

U.S.	42,097	41,884	0.5		0.5	—
International	39,962	39,697	0.7		5.3	(4.6)
Worldwide	$ 82,059	81,581	0.6	%	2.8	(2.2)

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)	FOURTH QUARTER

	2019			2018			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 20,747		100.0	$ 20,394		100.0	1.7
Cost of products sold	7,134		34.4	6,961		34.1	2.5
Gross Profit	13,613		65.6	13,433		65.9	1.3
Selling, marketing and administrative expenses	6,039		29.1	5,991		29.4	0.8
Research and development expense	3,232		15.6	3,224		15.8	0.2
Interest (income) expense, net	4		0.0	54		0.3
Other (income) expense, net	16		0.1	978		4.8
Restructuring	104		0.5	64		0.3
Earnings before provision for taxes on income	4,218		20.3	3,122		15.3	35.1
Provision for taxes on income	208		1.0	80		0.4	160.0
Net earnings	$ 4,010		19.3	$ 3,042		14.9	31.8

Net earnings per share (Diluted)	$ 1.50			$ 1.12			33.9

Average shares outstanding (Diluted)	2,669.1			2,724.0

Effective tax rate	4.9	%		2.6	%

Adjusted earnings before provision for taxes and net earnings^{(1) (A)}
Earnings before provision for taxes on income	$ 5,628		27.1	$ 6,046		29.6	(6.9)
Net earnings	$ 5,027		24.2	$ 5,372		26.3	(6.4)
Net earnings per share (Diluted)	$ 1.88			$ 1.97			(4.6)
Effective tax rate	10.7	%		11.1	%

⁽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.



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	TWELVE MONTHS

	2019			2018			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 82,059		100.0	$ 81,581		100.0	0.6
Cost of products sold	27,556		33.6	27,091		33.2	1.7
Gross Profit	54,503		66.4	54,490		66.8	0.0
Selling, marketing and administrative expenses	22,178		27.0	22,540		27.6	(1.6)
Research and development expense	11,355		13.8	10,775		13.2	5.4
In-process research and development	890		1.1	1,126		1.4
Interest (income) expense, net	(39)		0.0	394		0.5
Other (income) expense, net	2,525		3.1	1,405		1.7
Restructuring	266		0.3	251		0.3
Earnings before provision for taxes on income	17,328		21.1	17,999		22.1	(3.7)
Provision for taxes on income	2,209		2.7	2,702		3.3	(18.2)
Net earnings	$ 15,119		18.4	$ 15,297		18.8	(1.2)

Net earnings per share (Diluted)	$ 5.63			$ 5.61			0.4

Average shares outstanding (Diluted)	2,684.3			2,728.7

Effective tax rate	12.7	%		15.0	%

Adjusted earnings before provision for taxes and net earnings^{(1) (A)}
Earnings before provision for taxes on income	$ 28,225		34.4	$ 26,698		32.7	5.7
Net earnings	$ 23,310		28.4	$ 22,315		27.4	4.5
Net earnings per share (Diluted)	$ 8.68			$ 8.18			6.1
Effective tax rate	17.4	%		16.4	%

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures.

^(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant 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.



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
	Fourth Quarter			% Incr. /
(Dollars in Millions Except Per Share Data)	2019		2018	(Decr.)

Earnings before provision for taxes on income - as reported	$ 4,218		3,122	35.1		%
Litigation expense, net	264		1,288
Intangible asset amortization expense	1,142		1,073
Restructuring/Other⁽¹⁾	251		227
Actelion acquisition related cost	62		43
Auris Health acquisition related cost	16		—
AMO acquisition related cost	12		27
Unrealized loss/(gain) on securities	(350)		182
Tax legislation and related impacts	—		72
Other	13		12
Earnings before provision for taxes on income - as adjusted	$ 5,628		6,046	(6.9	)	%

Net Earnings - as reported	$ 4,010		3,042	31.8		%
Litigation expense, net	251		1,113
Intangible asset amortization expense	1,008		957
Restructuring/Other	214		190
Actelion acquisition related cost	58		39
Auris Health acquisition related cost	12		—
AMO acquisition related cost	12		21
Unrealized loss/(gain) on securities	(277	)	143
Tax legislation and related impacts⁽²⁾	(184)		(137)
Other	(77)		4
Net Earnings - as adjusted	$ 5,027		5,372	(6.4	)	%

Diluted Net Earnings per share - as reported	$ 1.50		1.12	33.9		%
Litigation expense, net	0.10		0.41
Intangible asset amortization expense	0.38		0.35
Restructuring/Other	0.08		0.07
Actelion acquisition related cost	0.02		0.01
Auris Health acquisition related cost	—		—
AMO acquisition related cost	—		0.01
Unrealized loss/(gain) on securities	(0.10)		0.05
Tax legislation and related impacts	(0.07)		(0.05)
Other	(0.03)		—
Diluted Net Earnings per share - as adjusted	$ 1.88		1.97	(4.6	)	%

Impact of currency at 2018 foreign currency exchange rates	0.03
Operational Diluted Net Earnings per share - as adjusted at 2018 foreign currency exchange rates	$ 1.91		1.97	(3.0)		%

⁽¹⁾ Includes $70M recorded in cost of products sold and $77M recorded in other (income) expense for the fourth quarter 2019. Includes $32M recorded in cost of products sold and $131M recorded in other (income) expense for the fourth quarter 2018.

⁽²⁾ Includes foreign currency translation



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
	Twelve Months		% Incr. /
(Dollars in Millions Except Per Share Data)	2019	2018	(Decr.)

Earnings before provision for taxes on income - as reported	$ 17,328	17,999	(3.7)	%
Litigation expense, net	5,096	1,991
Intangible asset amortization expense	4,528	4,357
In-process research and development	890	1,126
Restructuring/Other ⁽¹⁾	611	700
Actelion acquisition related cost	185	243
Auris Health acquisition related cost	72	—
AMO acquisition related cost	62	109
Unrealized loss/(gain) on securities	(567)	179
Contingent liability reversal	—	(184)
Tax legislation and related impacts	—	72
Other	20	106
Earnings before provision for taxes on income - as adjusted	$ 28,225	26,698	5.7	%

Net Earnings - as reported	$ 15,119	15,297	(1.2)	%
Litigation expense, net	4,015	1,722
Intangible asset amortization expense	3,844	3,888
In-process research and development	703	859
Restructuring/Other	511	585
Actelion acquisition related cost	172	232
Auris Health acquisition related cost	56	—
AMO acquisition related cost	52	89
Unrealized loss/(gain) on securities	(448)	141
Contingent liability reversal	—	(184)
Tax legislation and related impacts⁽²⁾	(575)	(390)
Other	(139)	76
Net Earnings - as adjusted	$ 23,310	22,315	4.5	%

Diluted Net Earnings per share - as reported	$ 5.63	5.61	0.4	%
Litigation expense, net	1.50	0.63
Intangible asset amortization expense	1.43	1.42
In-process research and development	0.26	0.32
Restructuring/Other	0.19	0.21
Actelion acquisition related cost	0.06	0.09
Auris Health acquisition related cost	0.02	—
AMO acquisition related cost	0.02	0.03
Unrealized loss/(gain) on securities	(0.17)	0.05
Contingent liability reversal	—	(0.07)
Tax legislation and related impacts	(0.21)	(0.14)
Other	(0.05)	0.03
Diluted Net Earnings per share - as adjusted	$ 8.68	8.18	6.1	%

Impact of currency at 2018 foreign currency exchange rates	0.22
Operational Diluted Net Earnings per share - as adjusted at 2018 foreign currency exchange rates	$ 8.90	8.18	8.8	%

⁽¹⁾ Includes $151M recorded in cost of products sold and $194M recorded in other (income) expense for twelve months YTD 2019. Includes $105M recorded in cost of products sold and $344M recorded in other (income) expense for twelve months YTD 2018.

⁽²⁾ Includes foreign currency translation



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure

Adjusted Operational Sales Growth ^(A)
FOURTH QUARTER 2019 ACTUAL vs. 2018 ACTUAL


Segments

	Consumer	Pharmaceutical	Medical Devices	Total
WW As Reported	0.9%	3.5%	(0.5)%	1.7%
U.S.	(0.6)%	3.9%	(2.4)%	1.4%
International	2.0%	2.9%	1.3%	2.1%

WW Currency	(1.2)	(0.9)	(0.7)	(0.9)
U.S.	—	—	—	—
International	(2.0)	(2.2)	(1.4)	(1.9)

WW Operational	2.1%	4.4%	0.2%	2.6%
U.S.	(0.6)%	3.9%	(2.4)%	1.4%
International	4.0%	5.1%	2.7%	4.0%

Beauty
RoC	0.6			0.1
U.S.	1.4			0.2
International	0.0			0.0

Beauty
Dr. Ci Labo - Japan	(1.7)			(0.3)
U.S.	0.0			0.0
International	(2.9)			(0.6)

Specialty Surgery
Advanced Sterilization Products			2.4	0.8
U.S.			3.0	0.9
International			2.0	0.7

Baby Care
Baby Center	0.3			0.1
U.S.	0.8			0.1
International	0.0			0.0

All Other Acquisitions and Divestitures	0.0	0.1	0.1	0.1
U.S.	0.0	0.1	0.0	0.1
International	0.1	0.0	0.1	0.1

WW Adjusted Operational	1.4%	4.5%	2.7%	3.4%
U.S.	1.6%	4.1%	0.6%	2.7%
International	1.3%	5.1%	4.7%	4.1%

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 2019 ACTUAL vs. 2018 ACTUAL

Segments

	Consumer	Pharmaceutical	Medical Devices	Total
WW As Reported	0.3%	3.6%	(3.8)%	0.6%
U.S.	1.4%	2.5%	(3.5)%	0.5%
International	(0.4)%	5.0%	(4.1)%	0.7%

WW Currency	(2.7)	(2.2)	(2.1)	(2.2)
U.S.	—	—	—	—
International	(4.6)	(5.1)	(4.0)	(4.6)

WW Operational	3.0%	5.8%	(1.7)%	2.8%
U.S.	1.4%	2.5%	(3.5)%	0.5%
International	4.2%	10.1%	(0.1)%	5.3%

Beauty
Nizoral	0.2			0.0
U.S.	0.1			0.0
International	0.3			0.1

OTC
Zarbees	(0.4)			(0.1)
U.S.	(1.1)			(0.1)
International	0.0			0.0

Diabetes Care
LifeScan			3.8	1.3
U.S.			2.9	0.9
International			4.6	1.7

Beauty
RoC	0.7			0.1
U.S.	1.3			0.2
International	0.2			0.0

Beauty
Dr. Ci Labo - Japan	(2.3)			(0.4)
U.S.	0.0			0.0
International	(3.9)			(0.8)

Specialty Surgery
Advanced Sterilization Products			1.6	0.6
U.S.			2.2	0.7
International			1.0	0.4

Baby Care
Baby Center	0.1			0.0
U.S.	0.3			0.0
International	0.0			0.0

All Other Acquisitions and Divestitures	0.1	0.0	0.1	0.1
U.S.	0.0	0.1	0.1	0.1
International	0.1	0.0	0.1	0.1

WW Adjusted Operational	1.4%	5.8%	3.9%	4.5%
U.S.	2.1%	2.7%	1.8%	2.3%
International	1.0%	10.1%	5.7%	6.7%

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
		2019	2018	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	85	116	(26.7	)%	(26.7	)%	—	%
Intl		336	357	(5.9	)	(3.7	)	(2.2	)
WW		421	473	(11.0	)	(9.3	)	(1.7	)

BEAUTY
US		582	612	(4.9	)	(4.9	)	—
Intl		568	499	13.8		15.6		(1.8	)
WW		1,150	1,111	3.5		4.3		(0.8	)

ORAL CARE
US		159	165	(3.6	)	(3.6	)	—
Intl		233	234	0.2		2.2		(2.0	)
WW		393	399	(1.4	)	(0.2	)	(1.2	)

OTC
US		542	491	10.3		10.3		—
Intl		653	657	(0.6	)	0.8		(1.4	)
WW		1,195	1,148	4.1		4.9		(0.8	)

WOMEN'S HEALTH
US		3	3	(11.8	)	(11.8	)	—
Intl		250	254	(1.5	)	3.1		(4.6	)
WW		253	257	(1.6	)	2.9		(4.5	)

WOUND CARE / OTHER
US		98	92	7.5		7.5		—
Intl		57	56	(0.4	)	0.6		(1.0	)
WW		155	148	4.5		4.8		(0.3	)

TOTAL CONSUMER
US		1,470	1,479	(0.6	)	(0.6	)	—
Intl		2,097	2,057	2.0		4.0		(2.0	)
WW	$	3,567	3,536	0.9	%	2.1	%	(1.2	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2019	2018	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT⁽²⁾

IMMUNOLOGY
US	$	2,517	2,356	6.8	%	6.8	%	—	%
Intl		1,005	986	1.9		4.3		(2.4	)
WW		3,522	3,342	5.4		6.1		(0.7	)
REMICADE
US		755	843	(10.4	)	(10.4	)	—
US Exports⁽³⁾		68	90	(25.0	)	(25.0	)	—
Intl		212	305	(30.4	)	(28.9	)	(1.5	)
WW		1,035	1,238	(16.4	)	(16.0	)	(0.4	)
SIMPONI / SIMPONI ARIA
US		302	272	10.7		10.7		—
Intl		213	210	1.4		3.7		(2.3	)
WW		515	482	6.6		7.6		(1.0	)
STELARA
US		1,194	1,009	18.4		18.4		—
Intl		506	435	16.3		19.1		(2.8	)
WW		1,700	1,444	17.7		18.6		(0.9	)
TREMFYA
US		199	142	39.7		39.7		—
Intl		71	33	*		*		*
WW		270	175	53.9		55.1		(1.2	)
OTHER IMMUNOLOGY ⁽⁴⁾
US		—	—	—		—		—
Intl		2	3	(22.4	)	(24.0	)	1.6
WW		2	3	(22.4	)	(24.0	)	1.6

INFECTIOUS DISEASES
US		435	372	17.1		17.1		—
Intl		430	430	0.2		3.0		(2.8	)
WW		866	802	8.0		9.6		(1.6	)
EDURANT / rilpivirine
US		14	16	(12.3	)	(12.3	)	—
Intl		209	177	17.7		20.9		(3.2	)
WW		222	193	15.2		18.2		(3.0	)
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		390	322	21.0		21.0		—
Intl		155	173	(10.7	)	(7.8	)	(2.9	)
WW		544	495	9.9		10.9		(1.0	)
OTHER INFECTIOUS DISEASES
US		32	34	(5.8	)	(5.8	)	—
Intl		67	80	(15.4	)	(13.3	)	(2.1	)
WW		99	114	(12.5	)	(11.0	)	(1.5	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

NEUROSCIENCE
US	$	747	660	13.2	%	13.2	%	—	%
Intl		819	840	(2.5	)	(1.2	)	(1.3	)
WW		1,566	1,500	4.4		5.2		(0.8	)
CONCERTA / methylphenidate
US		37	38	(4.4	)	(4.4	)	—
Intl		115	112	2.4		3.0		(0.6	)
WW		152	150	0.7		1.1		(0.4	)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		564	485	16.2		16.2		—
Intl		308	278	10.7		13.2		(2.5	)
WW		871	763	14.2		15.1		(0.9	)
RISPERDAL CONSTA
US		77	77	0.3		0.3		—
Intl		82	101	(18.9	)	(17.0	)	(1.9	)
WW		160	178	(10.6	)	(9.5	)	(1.1	)
OTHER NEUROSCIENCE
US		70	60	16.7		16.7		—
Intl		314	349	(9.9	)	(9.3	)	(0.6	)
WW		383	409	(6.1	)	(5.5	)	(0.6	)

ONCOLOGY
US		1,153	1,063	8.5		8.5		—
Intl		1,563	1,426	9.6		12.2		(2.6	)
WW		2,716	2,489	9.1		10.6		(1.5	)
DARZALEX
US		444	323	37.8		37.8		—
Intl		385	261	47.5		52.8		(5.3	)
WW		830	584	42.1		44.5		(2.4	)
IMBRUVICA
US		392	318	22.8		22.8		—
Intl		483	385	25.9		29.7		(3.8	)
WW		875	703	24.5		26.6		(2.1	)
VELCADE
US		—	—	—		—		—
Intl		115	252	(54.6	)	(55.2	)	0.6
WW		115	252	(54.6	)	(55.2	)	0.6
ZYTIGA / abiraterone acetate
US		194	351	(44.8	)	(44.8	)	—
Intl		483	435	11.2		12.9		(1.7	)
WW		677	786	(13.8	)	(12.9	)	(0.9	)
OTHER ONCOLOGY
US		122	71	75.1		75.1		—
Intl		97	93	3.0		5.9		(2.9	)
WW		220	164	33.7		35.4		(1.7	)
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

PULMONARY HYPERTENSION
US	$	388	436	(11.1	)%	(11.1	)%	—	%
Intl		235	231	1.6		3.1		(1.5	)
WW		623	667	(6.7	)	(6.2	)	(0.5	)
OPSUMIT
US		185	189	(2.4	)	(2.4	)	—
Intl		143	134	5.8		7.5		(1.7	)
WW		326	323	1.0		1.7		(0.7	)
TRACLEER / bosentan
US		10	60	(83.3	)	(83.3	)	—
Intl		46	64	(27.6	)	(28.8	)	1.2
WW		56	124	(54.8	)	(55.4	)	0.6
UPTRAVI
US		178	165	7.4		7.4		—
Intl		30	16	92.5		99.5		(7.0	)
WW		208	181	14.8		15.4		(0.6	)
OTHER
US		16	22	(27.7	)	(27.7	)	—
Intl		16	17	(5.9	)	(2.4	)	(3.5	)
WW		32	39	(18.1	)	(16.5	)	(1.6	)


See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER
US	$	930	1,049	(11.4	)%	(11.4	)%	—	%
Intl		327	341	(4.4	)	(3.5	)	(0.9	)
WW		1,256	1,390	(9.7	)	(9.5	)	(0.2	)
XARELTO
US		609	608	0.4		0.4		—
Intl		—	—	—		—		—
WW		609	608	0.4		0.4		—
INVOKANA / INVOKAMET
US		125	188	(33.8	)	(33.8	)	—
Intl		52	40	33.7		36.0		(2.3	)
WW		177	228	(22.2	)	(21.8	)	(0.4	)
PROCRIT / EPREX
US		118	151	(21.6	)	(21.6	)	—
Intl		65	70	(7.1	)	(7.0	)	(0.1	)
WW		183	221	(17.0	)	(16.9	)	(0.1	)
OTHER
US		78	102	(25.0	)	(25.0	)	—
Intl		209	231	(10.0	)	(9.1	)	(0.9	)
WW		286	333	(14.6	)	(14.0	)	(0.6	)

TOTAL PHARMACEUTICAL
US		6,169	5,936	3.9		3.9		—
Intl		4,379	4,254	2.9		5.1		(2.2	)
WW	$	10,548	10,190	3.5	%	4.4	%	(0.9	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

	FOURTH QUARTER
			% Change
	2019	2018	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ^{(2) (4)}

INTERVENTIONAL SOLUTIONS
US	377	336	12.2	%	12.2	%	—	%
Intl	398	350	13.4		14.3		(0.9	)
WW	774	686	12.8		13.3		(0.5	)

ORTHOPAEDICS
US	1,369	1,358	0.9		0.9		—
Intl	904	904	(0.1	)	1.7		(1.8	)
WW	2,273	2,262	0.5		1.2		(0.7	)

HIPS
US	230	220	4.9		4.9		—
Intl	147	145	1.2		3.0		(1.8	)
WW	377	365	3.4		4.2		(0.8	)

KNEES
US	239	239	0.2		0.2		—
Intl	156	153	1.5		3.2		(1.7	)
WW	395	392	0.7		1.4		(0.7	)

TRAUMA
US	413	403	2.3		2.3		—
Intl	273	271	0.8		2.6		(1.8	)
WW	686	674	1.7		2.5		(0.8	)

SPINE & OTHER
US	488	496	(1.6	)	(1.6	)	—
Intl	329	335	(2.1	)	(0.4	)	(1.7	)
WW	817	831	(1.8	)	(1.1	)	(0.7	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ^{(2) (4) (Continued)}

SURGERY
US	$	961	1,094	(12.2	)%	(12.2	)%	—	%
Intl		1,481	1,493	(0.8	)	1.2		(2.0	)
WW		2,442	2,587	(5.6	)	(4.4	)	(1.2	)

ADVANCED
US		428	441	(3.0	)	(3.0	)	—
Intl		647	614	5.5		7.6		(2.1	)
WW		1,076	1,055	2.0		3.2		(1.2	)

GENERAL
US		451	469	(3.9	)	(3.9	)	—
Intl		720	712	1.2		3.3		(2.1	)
WW		1,171	1,181	(0.8	)	0.4		(1.2	)

SPECIALTY
US		83	184	(55.3	)	(55.3	)	—
Intl		114	167	(32.3	)	(30.7	)	(1.6	)
WW		195	351	(44.4	)	(43.6	)	(0.8	)

VISION
US		428	426	0.3		0.3		—
Intl		713	707	1.0		1.2		(0.2	)
WW		1,141	1,133	0.7		0.9		(0.2	)

CONTACT LENSES / OTHER
US		311	289	7.7		7.7		—
Intl		522	527	(0.8	)	(0.9	)	0.1
WW		833	816	2.2		2.1		0.1
SURGICAL
US		117	137	(15.2	)	(15.2	)	—
Intl		191	180	6.4		7.6		(1.2	)
WW		309	317	(3.0	)	(2.3	)	(0.7	)

TOTAL MEDICAL DEVICES
US		3,135	3,214	(2.4	)	(2.4	)	—
Intl		3,497	3,454	1.3		2.7		(1.4	)
WW	$	6,632	6,668	(0.5	)%	0.2	%	(0.7	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	362	422	(14.2	)%	(14.2	)%	—	%
Intl		1,313	1,436	(8.6	)	(3.7	)	(4.9	)
WW		1,675	1,858	(9.9	)	(6.1	)	(3.8	)

BEAUTY
US		2,392	2,403	(0.4	)	(0.4	)	—
Intl		2,201	1,979	11.2		15.3		(4.1	)
WW		4,593	4,382	4.8		6.7		(1.9	)

ORAL CARE
US		621	637	(2.5	)	(2.5	)	—
Intl		906	918	(1.2	)	3.3		(4.5	)
WW		1,528	1,555	(1.7	)	0.9		(2.6	)

OTC
US		2,010	1,850	8.6		8.6		—
Intl		2,434	2,484	(2.0	)	2.2		(4.2	)
WW		4,444	4,334	2.5		4.9		(2.4	)

WOMEN'S HEALTH
US		12	13	(5.5	)	(5.5	)	—
Intl		974	1,036	(6.0	)	1.1		(7.1	)
WW		986	1,049	(6.0	)	1.0		(7.0	)

WOUND CARE / OTHER
US		441	436	1.2		1.2		—
Intl		230	239	(3.9	)	(0.7	)	(3.2	)
WW		671	675	(0.6	)	0.5		(1.1	)

TOTAL CONSUMER
US		5,839	5,761	1.4		1.4		—
Intl		8,059	8,092	(0.4	)	4.2		(4.6	)
WW	$	13,898	13,853	0.3	%	3.0	%	(2.7	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT⁽²⁾

IMMUNOLOGY
US	$	9,641	9,073	6.3	%	6.3	%	—	%
Intl		4,309	4,047	6.5		11.6		(5.1	)
WW		13,950	13,120	6.3		7.9		(1.6	)
REMICADE
US		3,079	3,664	(16.0	)	(16.0	)	—
US Exports⁽³⁾		294	436	(32.7	)	(32.7	)	—
Intl		1,007	1,226	(17.8	)	(13.7	)	(4.1	)
WW		4,380	5,326	(17.8	)	(16.8	)	(1.0	)
SIMPONI / SIMPONI ARIA
US		1,159	1,051	10.2		10.2		—
Intl		1,029	1,033	(0.4	)	4.4		(4.8	)
WW		2,188	2,084	5.0		7.3		(2.3	)
STELARA
US		4,346	3,469	25.3		25.3		—
Intl		2,015	1,687	19.4		25.1		(5.7	)
WW		6,361	5,156	23.4		25.2		(1.8	)
TREMFYA
US		764	453	68.5		68.5		—
Intl		248	91	*		*		*
WW		1,012	544	85.9		87.7		(1.8	)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		10	10	4.5		4.7		(0.2	)
WW		10	10	4.5		4.7		(0.2	)

INFECTIOUS DISEASES
US		1,597	1,378	15.9		15.9		—
Intl		1,815	1,926	(5.7	)	(0.2	)	(5.5	)
WW		3,413	3,304	3.3		6.5		(3.2	)
EDURANT / rilpivirine
US		50	58	(13.7	)	(13.7	)	—
Intl		812	758	7.1		12.7		(5.6	)
WW		861	816	5.6		10.8		(5.2	)
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		1,422	1,169	21.6		21.6		—
Intl		689	786	(12.3	)	(6.8	)	(5.5	)
WW		2,110	1,955	8.0		10.2		(2.2	)
OTHER INFECTIOUS DISEASES
US		126	151	(16.5	)	(16.5	)	—
Intl		315	382	(17.6	)	(12.3	)	(5.3	)
WW		441	533	(17.3	)	(13.5	)	(3.8	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

NEUROSCIENCE
US	$	2,919	2,574	13.4	%	13.4	%	—	%
Intl		3,409	3,503	(2.7	)	1.5		(4.2	)
WW		6,328	6,077	4.1		6.6		(2.5	)
CONCERTA / methylphenidate
US		233	229	1.7		1.7		—
Intl		463	434	6.6		10.3		(3.7	)
WW		696	663	4.9		7.3		(2.4	)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		2,107	1,791	17.6		17.6		—
Intl		1,224	1,137	7.7		13.0		(5.3	)
WW		3,330	2,928	13.7		15.8		(2.1	)
RISPERDAL CONSTA
US		314	315	(0.3	)	(0.3	)	—
Intl		374	422	(11.4	)	(6.5	)	(4.9	)
WW		688	737	(6.7	)	(3.9	)	(2.8	)
OTHER NEUROSCIENCE
US		266	239	11.4		11.4		—
Intl		1,349	1,510	(10.7	)	(7.4	)	(3.3	)
WW		1,614	1,749	(7.7	)	(4.9	)	(2.8	)

ONCOLOGY
US		4,299	4,331	(0.7	)	(0.7	)	—
Intl		6,393	5,513	16.0		21.8		(5.8	)
WW		10,692	9,844	8.6		11.9		(3.3	)
DARZALEX
US		1,567	1,203	30.3		30.3		—
Intl		1,430	822	73.9		84.1		(10.2	)
WW		2,998	2,025	48.0		52.2		(4.2	)
IMBRUVICA
US		1,555	1,129	37.7		37.7		—
Intl		1,856	1,486	24.9		32.1		(7.2	)
WW		3,411	2,615	30.4		34.5		(4.1	)
VELCADE
US		—	—	—		—		—
Intl		751	1,116	(32.7	)	(30.1	)	(2.6	)
WW		751	1,116	(32.7	)	(30.1	)	(2.6	)
ZYTIGA / abiraterone acetate
US		810	1,771	(54.3	)	(54.3	)	—
Intl		1,985	1,727	15.0		19.8		(4.8	)
WW		2,795	3,498	(20.1	)	(17.7	)	(2.4	)
OTHER ONCOLOGY
US		367	228	61.0		61.0		—
Intl		371	362	2.4		8.1		(5.7	)
WW		739	590	25.0		28.6		(3.6	)
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

PULMONARY HYPERTENSION
US	$	1,684	1,651	2.0	%	2.0	%	—	%
Intl		939	922	1.9		6.3		(4.4	)
WW		2,623	2,573	1.9		3.5		(1.6	)
OPSUMIT
US		766	700	9.4		9.4		—
Intl		562	515	9.0		14.1		(5.1	)
WW		1,327	1,215	9.2		11.4		(2.2	)
TRACLEER / bosentan
US		131	268	(51.1	)	(51.1	)	—
Intl		210	278	(24.3	)	(22.6	)	(1.7	)
WW		341	546	(37.5	)	(36.6	)	(0.9	)
UPTRAVI
US		714	598	19.3		19.3		—
Intl		105	65	62.4		70.7		(8.3	)
WW		819	663	23.5		24.3		(0.8	)
OTHER
US		74	85	(13.7	)	(13.7	)	—
Intl		62	64	(3.7	)	3.3		(7.0	)
WW		135	149	(9.4	)	(6.4	)	(3.0	)


See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER
US	$	3,734	4,279	(12.7	)%	(12.7	)%	—	%
Intl		1,458	1,537	(5.2	)	(1.3	)	(3.9	)
WW		5,192	5,816	(10.7	)	(9.7	)	(1.0	)
XARELTO
US		2,313	2,477	(6.6	)	(6.6	)	—
Intl		—	—	—		—		—
WW		2,313	2,477	(6.6	)	(6.6	)	—
INVOKANA / INVOKAMET
US		536	711	(24.6	)	(24.6	)	—
Intl		199	170	17.3		22.1		(4.8	)
WW		735	881	(16.5	)	(15.6	)	(0.9	)
PROCRIT / EPREX
US		505	674	(25.1	)	(25.1	)	—
Intl		285	314	(9.2	)	(6.5	)	(2.7	)
WW		790	988	(20.0	)	(19.2	)	(0.8	)
OTHER
US		380	417	(9.1	)	(9.1	)	—
Intl		974	1,053	(7.6	)	(3.5	)	(4.1	)
WW		1,353	1,470	(8.0	)	(5.1	)	(2.9	)

TOTAL PHARMACEUTICAL
US		23,874	23,286	2.5		2.5		—
Intl		18,324	17,448	5.0		10.1		(5.1	)
WW	$	42,198	40,734	3.6	%	5.8	%	(2.2	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ^{(2) (4)}

DIABETES CARE ⁽⁴⁾
US	$	—	371	*%		*%		—	%
Intl		—	638	*		*		*
WW		—	1,009	*		*		*

INTERVENTIONAL SOLUTIONS
US		1,443	1,283	12.5		12.5		—
Intl		1,554	1,363	14.0		17.8		(3.8	)
WW		2,997	2,646	13.3		15.2		(1.9	)

ORTHOPAEDICS
US		5,319	5,281	0.7		0.7		—
Intl		3,520	3,604	(2.3	)	1.9		(4.2	)
WW		8,839	8,885	(0.5	)	1.2		(1.7	)

HIPS
US		863	841	2.6		2.6		—
Intl		575	577	(0.3	)	4.2		(4.5	)
WW		1,438	1,418	1.4		3.3		(1.9	)

KNEES
US		889	911	(2.4	)	(2.4	)	—
Intl		591	591	0.0		4.1		(4.1	)
WW		1,480	1,502	(1.4	)	0.2		(1.6	)

TRAUMA
US		1,652	1,599	3.3		3.3		—
Intl		1,068	1,100	(2.9	)	1.4		(4.3	)
WW		2,720	2,699	0.8		2.5		(1.7	)

SPINE & OTHER
US		1,915	1,930	(0.8	)	(0.8	)	—
Intl		1,286	1,336	(3.8	)	0.4		(4.2	)
WW		3,201	3,266	(2.0	)	(0.3	)	(1.7	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2019	2018	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ^{(2) (4) (Continued)}

SURGERY
US	$	3,828	4,125	(7.2	)%	(7.2	)%	—	%
Intl		5,673	5,776	(1.8	)	2.7		(4.5	)
WW		9,501	9,901	(4.0	)	(1.4	)	(2.6	)

ADVANCED
US		1,637	1,657	(1.2	)	(1.2	)	—
Intl		2,458	2,345	4.8		9.4		(4.6	)
WW		4,095	4,002	2.3		5.0		(2.7	)

GENERAL
US		1,762	1,751	0.6		0.6		—
Intl		2,718	2,806	(3.1	)	1.3		(4.4	)
WW		4,480	4,557	(1.7	)	1.0		(2.7	)

SPECIALTY
US		430	717	(40.1	)	(40.1	)	—
Intl		497	625	(20.5	)	(16.4	)	(4.1	)
WW		926	1,342	(31.0	)	(29.0	)	(2.0	)

VISION
US		1,794	1,777	0.9		0.9		—
Intl		2,830	2,776	2.0		4.9		(2.9	)
WW		4,624	4,553	1.6		3.3		(1.7	)

CONTACT LENSES / OTHER
US		1,304	1,237	5.4		5.4		—
Intl		2,088	2,065	1.1		4.0		(2.9	)
WW		3,392	3,302	2.7		4.6		(1.9	)
SURGICAL
US		490	540	(9.4	)	(9.4	)	—
Intl		742	711	4.4		7.3		(2.9	)
WW		1,232	1,251	(1.6	)	0.1		(1.7	)

TOTAL MEDICAL DEVICES
US		12,384	12,837	(3.5	)	(3.5	)	—
Intl		13,579	14,157	(4.1	)	(0.1	)	(4.0	)
WW	$	25,963	26,994	(3.8	)%	(1.7	)%	(2.1	)%

Note: Columns 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⁾ Reported as U.S. sales
⁽⁴⁾ Reflects LifeScan divestiture October 2, 2018



New Jersey	1-3215	22-1024240
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)



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



Exhibit No.	Description of Exhibit
99.1	Press Release dated January 22, 2020 for the period ended December 29, 2019.
99.2	Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fourth quarter and full year.
104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.



		Johnson & Johnson
			(Registrant)
Date:	January 22, 2020	By:	/s/ Robert J. Decker, Jr.
			Robert J. Decker, Jr. Controller (Principal Accounting Officer)