Johnson & Johnson Reports Q4 and Full-Year 2022 Results
6:25 am ET January 24, 2023 (BusinessWire) Print
Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. "Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value."
OVERALL FINANCIAL RESULTS
Q4
Q4 Full Year
-------------------------------------- --------------------------------------------------------------- ---------------------------------------------------------------
($ in Millions, except EPS)
2022 2021 % Change 2022 2021 % Change
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Reported Sales
$23,706 $24,804 (4.4)% $94,943 $93,775 1.3%
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Net Earnings
$3,520 $4,736 (25.7)% $17,941 $20,878 (14.1)%
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
EPS (diluted)
$1.33 $1.77 (24.9)% $6.73 $7.81 (13.8)%
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Q4 Q4 Full Year
-------------------------------------- --------------------------------------------------------------- ---------------------------------------------------------------
Non-GAAP* ($ in Millions, except EPS)
2022 2021 % Change 2022 2021 % Change
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Operational Sales(1,2)
0.9% 6.1%
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Adjusted Operational Sales(1,3)
0.8% 6.2%
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Adjusted Net Earnings(1,4)
$6,218 $5,678 9.5% $27,038 $26,195 3.2%
-------------------------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
(1) Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules (2) Excludes the impact of translational currency (3) Excludes the net impact of acquisitions and divestitures and translational currency (4)Excludes intangible amortization expense and special items Note: values may have been rounded
REGIONAL SALES RESULTS
Q4 % Change % Change
------------------------------------------------------------------------------------------------------------------------------------
($ in Millions)
2022 2021 Reported Operational(1,2) Currency Adjusted
Operational(1,3)
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
U.S.
$12,516 $12,163 2.9% 2.9 - 2.7
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
International
11,190 12,641 (11.5) (1.1) (10.4) (1.0)
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Worldwide
$23,706 $24,804 (4.4)% 0.9 (5.3) 0.8
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Full Year % Change % Change
------------------------------------------------------------------------------------------------------------------------------------
($ in Millions)
2022 2021 Reported Operational(1,2) Currency Adjusted
Operational(1,3)
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
U.S.
$48,580 $47,156 3.0% 3.0 - 3.0
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
International
46,363 46,619 (0.6)% 9.1 (9.7) 9.3
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules 2 Excludes the impact of translational currency 3 Excludes the net impact of acquisitions and divestitures and translational currency Note: Values may have been rounded
SEGMENT SALES RESULTS
Q4
% Change
------------------------------------------------------------------------------------
($ in Millions)
2022 2021 Reported Operational(1,2) Currency Adjusted
Operational(1,3)
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Consumer Health(4)
$ 3,767 $ 3,728 1.0% 6.4 (5.4) 6.4
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Pharmaceutical(4)
13,163 14,217 (7.4) (2.5) (4.9) (2.3)
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
MedTech
6,776 6,859 (1.2) 4.9 (6.1) 4.4
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Worldwide
$ 23,706 $ 24,804 (4.4)% 0.9 (5.3) 0.8
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Full Year
% Change
------------------------------------------------------------------------------------
($ in Millions)
2022 2021 Reported Operational(1,2) Currency Adjusted
Operational(1,3)
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Consumer Health
$ 14,953 $ 15,035 (0.5)% 3.6 (4.1) 3.9
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
Pharmaceutical
52,563 51,680 1.7 6.7 (5.0) 6.8
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
MedTech
27,427 27,060 1.4 6.2 (4.8) 6.1
--------------------- --------------------- --------------------- --------------------- --------------------- --------------------- ---------------------
(1) Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules (2) Excludes the impact of translational currency (3) Excludes the net impact of acquisitions and divestitures and translational currency (4) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes Note: Values may have been rounded
FULL YEAR 2022 SEGMENT COMMENTARY: Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.
Consumer Health Consumer Health worldwide adjusted operational sales increased 3.9%* predominately driven by over-the-counter (OTC) products. Major contributors to growth in OTC were TYLENOL and MOTRIN analgesics, as well as upper respiratory products and digestive health products in the international markets. Additionally, Skin Health/Beauty adjusted operational growth was primarily driven by NEUTROGENA outside the U.S. Growth was partially offset by Oral Care in the international markets.
Pharmaceutical Pharmaceutical worldwide adjusted operational sales grew 6.8%*, driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. This growth was partially offset by declines in sales of REMICADE (infliximab), a biologic approved for the treatment of several immune-mediated inflammatory diseases, IMBRUVICA (ibrutinib), an oral, once daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, and ZYTIGA (abiratone acetate), an oral, once daily medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer.
MedTech MedTech worldwide adjusted operational sales grew 6.1%*, driven primarily by electrophysiology products in Interventional Solutions, contact lenses in Vision, and wound closure products in General Surgery.
NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER: The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investors section of the company's website at news releases, as well as www.factsabouttalc.com, www.factsaboutourprescriptionopioids.com, and www.LTLManagementInformation.com.
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FULL-YEAR 2023 GUIDANCE: Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
($ in Billions, except EPS) January 2023
-------------------------------------------------------- --------------------------------------
Adjusted Operational Sales(1,2,5) 3.5% - 4.5% / 4.0%
Change vs. Prior Year / Mid-point
-------------------------------------------------------- --------------------------------------
Operational Sales(2,5)/ Mid-point(2,5) $96.9B - $97.9B / $97.4B
Change vs. Prior Year / Mid-point 4.5% - 5.5% / 5.0%
-------------------------------------------------------- --------------------------------------
Estimated Reported Sales(3,5)/ Mid-point(3,5) $96.9B - $97.9B / $97.4B
Change vs. Prior Year / Mid-point 4.5% - 5.5% / 5.0%
-------------------------------------------------------- --------------------------------------
-------------------------------------------------------- --------------------------------------
Adjusted Operational EPS (Diluted)(2,4)/ Mid-point(2,4) $10.40 - $10.60 / $10.50
Change vs. Prior Year / Mid-point 2.5% - 4.5% / 3.5%
-------------------------------------------------------- --------------------------------------
(1)Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures (2) Non-GAAP financial measure; excludes the impact of translational currency (3) Calculated using Euro Average Rate: January 2023 = $1.08 (Illustrative purposes only) (4)Non-GAAP financial measure; excludes intangible amortization expense and special items (5)Excludes COVID-19 Vaccine Note: percentages may have been rounded
Other modeling considerations will be provided on the webcast.
WEBCAST INFORMATION: Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations.
ABOUT JOHNSON & JOHNSON: At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.
NON-GAAP FINANCIAL MEASURES: * "Operational sales growth" excluding the impact of translational currency, "adjusted operational sales growth" excluding the net impact of acquisitions and divestitures and translational currency, as well as "adjusted net earnings", "adjusted diluted earnings per share" and "adjusted operational diluted earnings per share" excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly results.
Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly results.
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy, and the anticipated separation of the Company's Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company's ability to satisfy the necessary conditions to consummate the separation of the Company's Consumer Health business on a timely basis or at all; the Company's ability to successfully separate the Company's Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company's ability to succeed as a standalone publicly traded company; and risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company's ability to execute business continuity plans, as a result of the COVID-19 pandemic. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Johnson & Johnson and Subsidiaries
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Supplementary Sales Data
----------------------------------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- --------------------------------
(Unaudited; Dollars in Millions) FOURTH QUARTER TWELVE MONTHS
----------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent Change Percent Change
----------------------------------------------- ------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------------------------------------------------------------------------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------
2022 2022 2021 Total Operations Currency 2022 2021 Total Operations Currency
----------------------------------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ ------------------------------ -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------
Sales to customers by
segment of business
Consumer Health (1)
U.S. $ 1,696 1,529 1,529 10.9 10.9 % 10.9 - - $ $ 6,599 6,516 6,516 1.3 1.3 % 1.3 - -
International 2,071 2,199 2,199 (5.8 (5.8 ) 3.2 3.2 (9.0 (9.0 ) 8,354 8,519 8,519 (1.9 (1.9 ) 5.3 5.3 (7.2 (7.2 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
3,767 3,728 3,728 1.0 1.0 6.4 6.4 (5.4 (5.4 ) 14,953 15,035 15,035 (0.5 (0.5 ) 3.6 3.6 (4.1 (4.1 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Pharmaceutical (1)
U.S. 7,375 7,418 7,418 (0.6 (0.6 ) (0.6 (0.6 ) - - 28,604 27,954 27,954 2.3 2.3 2.3 2.3 - -
International 5,788 6,799 6,799 (14.9 (14.9 ) (4.5 (4.5 ) (10.4 (10.4 ) 23,959 23,726 23,726 1.0 1.0 11.9 11.9 (10.9 (10.9 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
13,163 14,217 14,217 (7.4 (7.4 ) (2.5 (2.5 ) (4.9 (4.9 ) 52,563 51,680 51,680 1.7 1.7 6.7 6.7 (5.0 (5.0 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Pharmaceutical excluding COVID-19 Vaccine (1,3)
U.S. 7,375 7,205 7,205 2.4 2.4 2.4 2.4 - - 28,484 27,320 27,320 4.3 4.3 4.3 4.3 - -
International 5,099 5,394 5,394 (5.5 (5.5 ) 6.0 6.0 (11.5 (11.5 ) 21,900 21,975 21,975 (0.3 (0.3 ) 10.3 10.3 (10.6 (10.6 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
12,474 12,599 12,599 (1.0 (1.0 ) 3.9 3.9 (4.9 (4.9 ) 50,384 49,295 49,295 2.2 2.2 6.9 6.9 (4.7 (4.7 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
MedTech (2)
U.S. 3,445 3,216 3,216 7.1 7.1 7.1 7.1 - - 13,377 12,686 12,686 5.4 5.4 5.4 5.4 - -
International 3,331 3,643 3,643 (8.6 (8.6 ) 2.9 2.9 (11.5 (11.5 ) 14,050 14,374 14,374 (2.3 (2.3 ) 6.9 6.9 (9.2 (9.2 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
6,776 6,859 6,859 (1.2 (1.2 ) 4.9 4.9 (6.1 (6.1 ) 27,427 27,060 27,060 1.4 1.4 6.2 6.2 (4.8 (4.8 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
U.S. 12,516 12,163 12,163 2.9 2.9 2.9 2.9 - - 48,580 47,156 47,156 3.0 3.0 3.0 3.0 - -
International 11,190 12,641 12,641 (11.5 (11.5 ) (1.1 (1.1 ) (10.4 (10.4 ) 46,363 46,619 46,619 (0.6 (0.6 ) 9.1 9.1 (9.7 (9.7 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Worldwide 23,706 24,804 24,804 (4.4 (4.4 ) 0.9 0.9 (5.3 (5.3 ) 94,943 93,775 93,775 1.3 1.3 6.1 6.1 (4.8 (4.8 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
U.S. 12,516 11,950 11,950 4.7 4.7 4.7 4.7 - - 48,460 46,522 46,522 4.2 4.2 4.2 4.2 - -
International 10,501 11,236 11,236 (6.5 (6.5 ) 4.4 4.4 (10.9 (10.9 ) 44,304 44,868 44,868 (1.3 (1.3 ) 8.2 8.2 (9.5 (9.5 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Worldwide excluding COVID-19 Vaccine (3) $ 23,017 23,186 23,186 (0.7 (0.7 ) % 4.6 (5.3 (5.3 ) $ $ 92,764 91,390 91,390 1.5 1.5 % 6.2 (4.7 (4.7 )
----------------------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes.
(2) Previously referred to as Medical Devices.
Johnson & Johnson and Subsidiaries
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Supplementary Sales Data
--------------------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- --------------------------------
(Unaudited; Dollars in Millions) FOURTH QUARTER TWELVE MONTHS
--------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent Change Percent Change
--------------------------------- ------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------------------------------------------------------------------------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------
2022 2022 2021 Total Operations Currency 2022 2021 Total Operations Currency
--------------------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ ------------------------------ -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------
Sales to customers by
geographic area
U.S. $ 12,516 12,163 12,163 2.9 2.9 % 2.9 - - $ $ 48,580 47,156 47,156 3.0 3.0 % 3.0 - -
--------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Europe 5,816 6,925 6,925 (16.0 (16.0 ) (6.3 (6.3 ) (9.7 (9.7 ) 23,449 23,594 23,594 (0.6 (0.6 ) 11.0 11.0 (11.6 (11.6 )
Western Hemisphere excluding U.S. 1,545 1,459 1,459 5.9 5.9 11.8 11.8 (5.9 (5.9 ) 6,125 5,750 5,750 6.5 6.5 10.2 10.2 (3.7 (3.7 )
Asia-Pacific, Africa 3,829 4,257 4,257 (10.0 (10.0 ) 3.1 3.1 (13.1 (13.1 ) 16,789 17,275 17,275 (2.8 (2.8 ) 6.2 6.2 (9.0 (9.0 )
--------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
International 11,190 12,641 12,641 (11.5 (11.5 ) (1.1 (1.1 ) (10.4 (10.4 ) 46,363 46,619 46,619 (0.6 (0.6 ) 9.1 9.1 (9.7 (9.7 )
--------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Worldwide $ 23,706 24,804 24,804 (4.4 (4.4 ) % 0.9 (5.3 (5.3 ) $ $ 94,943 93,775 93,775 1.3 1.3 % 6.1 (4.8 (4.8 )
--------------------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Johnson & Johnson and Subsidiaries
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Condensed Consolidated Statement of Earnings
----------------------------------------------------------------- ---------------------------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- --------------------------------
(Unaudited; in Millions Except Per Share Figures) FOURTH QUARTER
----------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2022 2022 2021 Percent
----------------------------------------------------------------- ------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------
Percent Percent Increase
Amount Amount to Sales Amount to Sales (Decrease)
----------------------------------------------------------------- ----------------------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------
Sales to customers $ 23,706 100.0 100.0 $ $ 24,804 100.0 100.0 (4.4 (4.4 )
Cost of products sold 7,765 32.8 32.8 7,955 32.1 32.1 (2.4 (2.4 )
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Gross Profit 15,941 67.2 67.2 16,849 67.9 67.9 (5.4 (5.4 )
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Selling, marketing and administrative expenses 6,512 27.4 27.4 7,154 28.9 28.9 (9.0 (9.0 )
Research and development expense 3,841 16.2 16.2 4,720 19.0 19.0 (18.6 (18.6 )
In-process research and development 173 0.7 0.7 0 0.0 0.0
Interest (income) expense, net (77 ) (0.3 (0.3 ) 47 0.2 0.2
Other (income) expense, net 1,207 5.1 5.1 9 0.0 0.0
Restructuring 84 0.4 0.4 83 0.3 0.3
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Earnings before provision for taxes on income 4,201 17.7 17.7 4,836 19.5 19.5 (13.1 (13.1 )
Provision for taxes on income 681 2.9 2.9 100 0.4 0.4 581.0 581.0
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Net earnings $ 3,520 14.8 14.8 $ $ 4,736 19.1 19.1 (25.7 (25.7 )
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Net earnings per share (Diluted) $ 1.33 $ $ $ $ 1.77 (24.9 (24.9 (24.9 (24.9 )
Average shares outstanding (Diluted) 2,650.1 2,670.2
Effective tax rate 16.2 % 2.1 %
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Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income $ 7,418 31.3 31.3 $ $ 6,339 25.6 25.6 17.0 17.0
Net earnings $ 6,218 26.2 26.2 $ $ 5,678 22.9 22.9 9.5 9.5
Net earnings per share (Diluted) $ 2.35 $ $ $ $ 2.13 10.3 10.3 10.3 10.3
Effective tax rate 16.2 % 10.4 %
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Johnson & Johnson and Subsidiaries
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Condensed Consolidated Statement of Earnings
----------------------------------------------------------------- ---------------------------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- --------------------------------
(Unaudited; in Millions Except Per Share Figures) TWELVE MONTHS
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2022 2022 2021 Percent
----------------------------------------------------------------- ------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------
Percent Percent Increase
Amount Amount to Sales Amount to Sales (Decrease)
----------------------------------------------------------------- ----------------------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------
Sales to customers $ 94,943 100.0 100.0 $ $ 93,775 100.0 100.0 1.3 1.3
Cost of products sold 31,089 32.7 32.7 29,855 31.8 31.8 4.1 4.1
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Gross Profit 63,854 67.3 67.3 63,920 68.2 68.2 (0.1 (0.1 )
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Selling, marketing and administrative expenses 24,765 26.1 26.1 24,659 26.3 26.3 0.4 0.4
Research and development expense 14,603 15.4 15.4 14,714 15.7 15.7 (0.8 (0.8 )
In-process research and development 783 0.8 0.8 900 1.0 1.0
Interest (income) expense, net (214 ) (0.2 (0.2 ) 130 0.1 0.1
Other (income) expense, net 1,871 2.0 2.0 489 0.5 0.5
Restructuring 321 0.3 0.3 252 0.3 0.3
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
Earnings before provision for taxes on income 21,725 22.9 22.9 22,776 24.3 24.3 (4.6 (4.6 )
Provision for taxes on income 3,784 4.0 4.0 1,898 2.0 2.0 99.4 99.4
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Net earnings $ 17,941 18.9 18.9 $ $ 20,878 22.3 22.3 (14.1 (14.1 )
----------------------------------------------------------------- -------------------- ------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- --------------------
Net earnings per share (Diluted) $ 6.73 $ $ $ $ 7.81 (13.8 (13.8 (13.8 (13.8 )
Average shares outstanding (Diluted) 2,663.9 2,674.0
Effective tax rate 17.4 % 8.3 %
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Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income $ 31,880 33.6 33.6 $ $ 30,464 32.5 32.5 4.6 4.6
Net earnings $ 27,038 28.5 28.5 $ $ 26,195 27.9 27.9 3.2 3.2
Net earnings per share (Diluted) $ 10.15 $ $ $ $ 9.80 3.6 3.6 3.6 3.6
Effective tax rate 15.2 % 14.0 %
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Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Fourth Quarter Fourth Quarter Fourth Quarter Twelve Months Ended
----------------------------------------------------------------------- ----------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(Dollars in Millions Except Per Share Data) (Dollars in Millions Except Per Share Data) 2022 2021 2022 2021
----------------------------------------------------------------------- ----------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------
Net Earnings, after tax- as reported Net Earnings, after tax- as reported $3,520 $4,736 $4,736 $17,941 $17,941 $20,878 $20,878
Pre-tax Adjustments Pre-tax Adjustments
Intangible Asset Amortization expense Intangible Asset Amortization expense 1,061 1,121 1,121 4,305 4,305 4,697 4,697
Litigation related Litigation related 262 274 274 866 866 2,328 2,328
IPR&D IPR&D 173 - - 783 783 900 900
Restructuring related Restructuring related 140 140 140 463 463 473 473
Acquisition, integration and divestiture related (1) Acquisition, integration and divestiture related (1) 196 26 26 196 196 (478 (478 )
(Gains)/losses on securities (Gains)/losses on securities 6 (198 (198 ) 690 690 (533 (533 )
Medical Device Regulation (2) Medical Device Regulation (2) 88 73 73 296 296 234 234
COVID-19 Vaccine related costs (3) COVID-19 Vaccine related costs (3) 821 - - 1,474 1,474 - -
Consumer Health separation costs Consumer Health separation costs 470 67 67 1,089 1,089 67 67
Other Other - - - (7 (7 ) - -
Tax Adjustments Tax Adjustments
Tax impact on special item adjustments (4) Tax impact on special item adjustments (4) (507 ) (184 (184 ) (1,592 (1,592 ) (1,281 (1,281 )
Consumer Health separation tax related costs Consumer Health separation tax related costs 35 - - 494 494 - -
Tax legislation and other tax related Tax legislation and other tax related (47 ) (377 (377 ) 40 40 (1,090 (1,090 )
--------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- --------------------------------------------------------------- ---------------------------------------------------------------
Adjusted Net Earnings, after tax Adjusted Net Earnings, after tax $6,218 $5,678 $5,678 $27,038 $27,038 $26,195 $26,195
Average shares outstanding (Diluted) Average shares outstanding (Diluted) 2,650.1 2,670.2 2,670.2 2,663.9 2,663.9 2,674.0 2,674.0
Adjusted net earnings per share (Diluted) Adjusted net earnings per share (Diluted) $2.35 $2.13 $2.13 $10.15 $10.15 $9.80 $9.80
Operational adjusted net earnings per share (Diluted) Operational adjusted net earnings per share (Diluted) $2.46 $10.70 $10.70 $10.70 $10.70
Notes: Notes:
(1) Acquisition, integration and divestiture related for 2022 primarily includes costs related to the Abiomed acquisition. Acquisition, integration and divestiture related for 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S.
(2) European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
(3) COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all remaining customer contractual requirements.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER 2022 ACTUAL vs. 2021 ACTUAL
Segments
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Consumer Health Consumer Health Consumer Health Pharmaceutical Pharmaceutical MedTech MedTech Total Total
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
WW As Reported 1.0 1.0 % (7.4 (7.4 )% (1.2 (1.2 )% (4.4 (4.4 )%
--------------------------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
U.S. 10.9 10.9 % (0.6 (0.6 )% 7.1 7.1 % 2.9 2.9 %
International (5.8 (5.8 )% (14.9 (14.9 )% (8.6 (8.6 )% (11.5 (11.5 )%
WW Currency (5.4 (5.4 ) (4.9 (4.9 ) (6.1 (6.1 ) (5.3 (5.3 )
U.S. - - - - - - - -
International (9.0 (9.0 ) (10.4 (10.4 ) (11.5 (11.5 ) (10.4 (10.4 )
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
WW Operational 6.4 6.4 % (2.5 (2.5 )% 4.9 4.9 % 0.9 0.9 %
--------------------------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
U.S. 10.9 10.9 % (0.6 (0.6 )% 7.1 7.1 % 2.9 2.9 %
International 3.2 3.2 % (4.5 (4.5 )% 2.9 2.9 % (1.1 (1.1 )%
Interventional Solutions
Abiomed (0.5 (0.5 (0.5 (0.5 (0.5 (0.5 ) (0.1 (0.1 )
U.S. (1.0 (1.0 (1.0 (1.0 (1.0 (1.0 ) (0.3 (0.3 )
International 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
All Other Acquisitions and Divestitures 0.0 0.0 0.2 0.2 0.0 0.0 0.1 0.1
U.S. 0.1 0.1 0.2 0.2 (0.2 (0.2 ) 0.1 0.1
International 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
WW Adjusted Operational 6.4 6.4 % (2.3 (2.3 )% 4.4 4.4 % 0.8 0.8 %
======================================= ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ====================
U.S. 11.0 11.0 % (0.4 (0.4 )% 5.9 5.9 % 2.7 2.7 %
International 3.2 3.2 % (4.4 (4.4 )% 3.0 3.0 % (1.0 (1.0 )%
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
TWELVE MONTHS 2022 ACTUAL vs. 2021 ACTUAL
Segments
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Consumer Health Consumer Health Consumer Health Pharmaceutical Pharmaceutical MedTech MedTech Total Total
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
WW As Reported (0.5 (0.5 )% 1.7 1.7 % 1.4 1.4 % 1.3 1.3 %
--------------------------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
U.S. 1.3 1.3 % 2.3 2.3 % 5.4 5.4 % 3.0 3.0 %
International (1.9 (1.9 )% 1.0 1.0 % (2.3 (2.3 )% (0.6 (0.6 )%
WW Currency (4.1 (4.1 ) (5.0 (5.0 ) (4.8 (4.8 ) (4.8 (4.8 )
U.S. - - - - - - - -
International (7.2 (7.2 ) (10.9 (10.9 ) (9.2 (9.2 ) (9.7 (9.7 )
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
WW Operational 3.6 3.6 % 6.7 6.7 % 6.2 6.2 % 6.1 6.1 %
--------------------------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
U.S. 1.3 1.3 % 2.3 2.3 % 5.4 5.4 % 3.0 3.0 %
International 5.3 5.3 % 11.9 11.9 % 6.9 6.9 % 9.1 9.1 %
All Other Acquisitions and Divestitures 0.3 0.3 0.1 0.1 (0.1 (0.1 ) 0.1 0.1
U.S. 0.2 0.2 0.2 0.2 (0.4 (0.4 ) 0.0 0.0
International 0.5 0.5 0.1 0.1 0.1 0.1 0.2 0.2
--------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
WW Adjusted Operational 3.9 3.9 % 6.8 6.8 % 6.1 6.1 % 6.2 6.2 %
======================================= ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ====================
U.S. 1.5 1.5 % 2.5 2.5 % 5.0 5.0 % 3.0 3.0 %
International 5.8 5.8 % 12.0 12.0 % 7.0 7.0 % 9.3 9.3 %
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------- ------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER FOURTH QUARTER TWELVE MONTHS
------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
% Change % Change
------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------------
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
---------------------------------------- -------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- -------------------- ---------------------------------------- ---------------------------------------- ------------------------------
CONSUMER HEALTH SEGMENT (2,3)
-------------------------------------
OTC
-------------------------------------
US $ $ 754 633 633 18.9 % 18.9 % - $ $ $ 2,782 2,594 2,594 7.3 % 7.3 % -
Intl 815 811 811 0.6 % 9.6 % -9.0 % 3,249 3,034 3,034 7.1 % 14.5 % -7.4 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW 1,569 1,444 1,444 8.6 % 13.7 % -5.1 % 6,031 5,627 5,627 7.2 % 11.2 % -4.0 %
SKIN HEALTH / BEAUTY
-------------------------------------
US 573 538 538 6.5 % 6.5 % - 2,337 2,400 2,400 -2.6 % -2.6 % -
Intl 515 546 546 -5.6 % 4.4 % -10.0 % 2,015 2,141 2,141 -5.9 % 2.2 % -8.1 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW 1,088 1,084 1,084 0.4 % 5.4 % -5.0 % 4,352 4,541 4,541 -4.2 % -0.4 % -3.8 %
ORAL CARE
-------------------------------------
US 164 159 159 3.3 % 3.3 % - 635 637 637 -0.3 % -0.3 % -
Intl 207 246 246 -16.0 % -8.1 % -7.9 % 871 1,008 1,008 -13.6 % -7.4 % -6.2 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW 370 405 405 -8.4 % -3.7 % -4.7 % 1,505 1,645 1,645 -8.5 % -4.7 % -3.8 %
BABY CARE
-------------------------------------
US 93 90 90 3.4 % 3.4 % - 357 378 378 -5.5 % -5.5 % -
Intl 264 309 309 -14.6 % -7.4 % -7.2 % 1,104 1,188 1,188 -7.1 % -1.4 % -5.7 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW 356 399 399 -10.6 % -5.0 % -5.6 % 1,461 1,566 1,566 -6.7 % -2.4 % -4.3 %
WOMEN'S HEALTH
-------------------------------------
US 4 4 4 15.6 % 15.6 % - 13 13 13 1.7 % 1.7 % -
Intl 217 230 230 -5.7 % 4.4 % -10.1 % 891 905 905 -1.5 % 7.1 % -8.6 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW 220 233 233 -5.5 % 4.6 % -10.1 % 904 917 917 -1.5 % 7.0 % -8.5 %
WOUND CARE / OTHER
-------------------------------------
US 109 106 106 3.3 % 3.3 % - 475 495 495 -4.0 % -4.0 % -
Intl 54 57 57 -7.5 % 2.9 % -10.4 % 224 243 243 -8.0 % -3.4 % -4.6 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW 163 164 164 -0.5 % 3.1 % -3.6 % 700 739 739 -5.3 % -3.8 % -1.5 %
TOTAL CONSUMER HEALTH
-------------------------------------
US 1,696 1,529 1,529 10.9 % 10.9 % - 6,599 6,516 6,516 1.3 % 1.3 % -
Intl 2,071 2,199 2,199 -5.8 % 3.2 % -9.0 % 8,354 8,519 8,519 -1.9 % 5.3 % -7.2 %
-------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- --------------------
WW $ $ 3,767 3,728 3,728 1.0 % 6.4 % -5.4 % $ $ $ 14,953 15,035 15,035 -0.5 % 3.6 % -4.1 %
==================== ==================== ==================== ==================== ==================== ===================================== ===================================== ==================== ==================== ==================== ====================
------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------------------
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
-------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER FOURTH QUARTER TWELVE MONTHS
-------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
% Change % Change
------------------------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------
PHARMACEUTICAL SEGMENT (2,3) 2022 2021 2021 Reported Operational (1) Currency 2022 2021 2021 Reported Operational (1) Currency
-------------------------------------------- ---------------------------------------- -------------------- -------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- -------------------- -------------------- ---------------------------------------- ---------------------------------------- -------------------
IMMUNOLOGY
--------------------------------------------
US $ $ 2,805 2,912 2,912 -3.6 % -3.6 % - $ $ $ 11,036 10,843 10,843 1.8 % 1.8 % -
Intl 1,312 1,443 1,443 -9.1 % 2.1 % -11.2 % 5,899 5,907 5,907 -0.1 % 10.3 % -10.4 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 4,118 4,355 4,355 -5.4 % -1.8 % -3.6 % 16,935 16,750 16,750 1.1 % 4.8 % -3.7 %
REMICADE
--------------------------------------------
US 318 511 511 -37.7 % -37.7 % - 1,417 2,019 2,019 -29.8 % -29.8 % -
US Exports (4) 41 39 39 5.1 % 5.1 % - 204 236 236 -13.6 % -13.6 % -
Intl 116 214 214 -45.9 % -41.3 % -4.6 % 722 935 935 -22.8 % -18.7 % -4.1 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 475 764 764 -37.8 % -36.5 % -1.3 % 2,343 3,190 3,190 -26.6 % -25.3 % -1.3 %
SIMPONI / SIMPONI ARIA
--------------------------------------------
US 280 287 287 -2.2 % -2.2 % - 1,166 1,127 1,127 3.5 % 3.5 % -
Intl 220 271 271 -18.6 % -7.4 % -11.2 % 1,017 1,148 1,148 -11.4 % -1.4 % -10.0 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 501 559 559 -10.2 % -4.7 % -5.5 % 2,184 2,276 2,276 -4.0 % 1.0 % -5.0 %
STELARA
--------------------------------------------
US 1,621 1,542 1,542 5.2 % 5.2 % - 6,388 5,938 5,938 7.6 % 7.6 % -
Intl 764 792 792 -3.5 % 8.1 % -11.6 % 3,335 3,196 3,196 4.4 % 15.7 % -11.3 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 2,386 2,334 2,334 2.3 % 6.2 % -3.9 % 9,723 9,134 9,134 6.5 % 10.4 % -3.9 %
TREMFYA
--------------------------------------------
US 541 528 528 2.5 % 2.5 % - 1,844 1,503 1,503 22.7 % 22.7 % -
Intl 211 165 165 27.5 % 44.5 % -17.0 % 824 624 624 32.0 % 47.8 % -15.8 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 752 693 693 8.5 % 12.5 % -4.0 % 2,668 2,127 2,127 25.4 % 30.1 % -4.7 %
OTHER IMMUNOLOGY
--------------------------------------------
US 3 6 6 -53.5 % -53.5 % - 17 21 21 -18.4 % -18.4 % -
Intl 0 0 0 * * * * * 0 3 3 * * * * *
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 3 6 6 -53.3 % -53.3 % 0.0 % 17 24 24 -28.2 % -28.2 % 0.0 %
INFECTIOUS DISEASES
--------------------------------------------
US 414 614 614 -32.6 % -32.6 % - 1,680 2,249 2,249 -25.3 % -25.3 % -
Intl 1,127 1,818 1,818 -38.0 % -31.0 % -7.0 % 3,769 3,576 3,576 5.4 % 17.3 % -11.9 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 1,540 2,431 2,431 -36.6 % -31.4 % -5.2 % 5,449 5,825 5,825 -6.5 % 0.8 % -7.3 %
COVID-19 VACCINE
--------------------------------------------
US 0 213 213 * * * - - 120 634 634 -81.1 % -81.1 % -
Intl 689 1,405 1,405 -50.9 % -45.0 % -5.9 % 2,059 1,751 1,751 17.6 % 32.1 % -14.5 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 689 1,619 1,619 -57.4 % -52.2 % -5.2 % 2,179 2,385 2,385 -8.6 % 2.0 % -10.6 %
EDURANT / rilpivirine
--------------------------------------------
US 9 10 10 1.2 % 1.2 % - 36 41 41 -10.8 % -10.8 % -
Intl 281 220 220 27.6 % 39.2 % -11.6 % 972 953 953 2.0 % 12.7 % -10.7 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 290 230 230 26.5 % 37.6 % -11.1 % 1,008 994 994 1.5 % 11.8 % -10.3 %
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
--------------------------------------------
US 398 380 380 4.7 % 4.7 % - 1,494 1,508 1,508 -1.0 % -1.0 % -
Intl 95 135 135 -29.5 % -20.5 % -9.0 % 449 575 575 -21.9 % -13.4 % -8.5 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 493 515 515 -4.3 % -1.9 % -2.4 % 1,943 2,083 2,083 -6.7 % -4.4 % -2.3 %
OTHER INFECTIOUS DISEASES
--------------------------------------------
US 6 11 11 -47.1 % -47.1 % - 30 66 66 -55.5 % -55.5 % -
Intl 61 57 57 7.3 % 18.0 % -10.7 % 289 297 297 -2.6 % 3.6 % -6.2 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 67 68 68 -1.6 % 7.4 % -9.0 % 318 363 363 -12.3 % -7.2 % -5.1 %
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
FOURTH QUARTER TWELVE MONTHS
------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------ -------------------- ------------------------------------------------------------------------------------------------------------
% Change % Change
------------------------------------------------ ------------------------------------------------
2022 2021 2021 Reported Operational (1) Currency 2022 2021 2021 Reported Operational (1) Currency
-------------------- -------------------- -------------------- --------- -------------- ------------------------- -------------------- -------------------- -------------------- --------- -------------- -------------------------
NEUROSCIENCE
-------------------------------------
US 912 912 899 899 1.4 % 1.4 % - 3,570 3,570 3,570 3,347 3,347 6.7 % 6.7 % -
Intl 825 825 890 890 -7.2 % 3.3 % -10.5 % 3,323 3,323 3,323 3,641 3,641 -8.7 % 0.4 % -9.1 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 1,737 1,737 1,789 1,789 -2.8 % 2.4 % -5.2 % 6,893 6,893 6,893 6,988 6,988 -1.4 % 3.4 % -4.8 %
CONCERTA / Methylphenidate
-------------------------------------
US 37 37 55 55 -34.3 % -34.3 % - 151 151 151 172 172 -12.5 % -12.5 % -
Intl 131 131 123 123 6.5 % 20.3 % -13.8 % 493 493 493 495 495 -0.4 % 9.9 % -10.3 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 168 168 178 178 -6.2 % 3.4 % -9.6 % 644 644 644 667 667 -3.5 % 4.1 % -7.6 %
INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA
-------------------------------------
US 678 678 668 668 1.8 % 1.8 % - 2,714 2,714 2,714 2,550 2,550 6.5 % 6.5 % -
Intl 329 329 361 361 -8.8 % 2.7 % -11.5 % 1,426 1,426 1,426 1,472 1,472 -3.1 % 7.8 % -10.9 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 1,008 1,008 1,029 1,029 -2.0 % 2.1 % -4.1 % 4,140 4,140 4,140 4,022 4,022 3.0 % 6.9 % -3.9 %
RISPERDAL CONSTA
-------------------------------------
US 62 62 77 77 -19.4 % -19.4 % - 257 257 257 287 287 -10.4 % -10.4 % -
Intl 50 50 63 63 -21.5 % -9.7 % -11.8 % 228 228 228 305 305 -25.3 % -15.5 % -9.8 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 112 112 140 140 -20.4 % -15.0 % -5.4 % 485 485 485 592 592 -18.1 % -13.0 % -5.1 %
OTHER NEUROSCIENCE
-------------------------------------
US 134 134 99 99 35.5 % 35.5 % - 447 447 447 338 338 32.4 % 32.4 % -
Intl 315 315 342 342 -7.7 % 0.3 % -8.0 % 1,176 1,176 1,176 1,368 1,368 -14.1 % -7.5 % -6.6 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 449 449 441 441 2.0 % 8.2 % -6.2 % 1,623 1,623 1,623 1,706 1,706 -4.9 % 0.4 % -5.3 %
ONCOLOGY
-------------------------------------
US 1,857 1,857 1,594 1,594 16.5 % 16.5 % - 6,930 6,930 6,930 5,958 5,958 16.3 % 16.3 % -
Intl 2,069 2,069 2,184 2,184 -5.3 % 6.8 % -12.1 % 9,052 9,052 9,052 8,590 8,590 5.4 % 17.3 % -11.9 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 3,927 3,927 3,778 3,778 3.9 % 10.9 % -7.0 % 15,983 15,983 15,983 14,548 14,548 9.9 % 16.9 % -7.0 %
DARZALEX
-------------------------------------
US 1,139 1,139 867 867 31.4 % 31.4 % - 4,210 4,210 4,210 3,169 3,169 32.8 % 32.8 % -
Intl 944 944 778 778 21.3 % 36.7 % -15.4 % 3,767 3,767 3,767 2,854 2,854 32.0 % 47.0 % -15.0 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 2,083 2,083 1,645 1,645 26.6 % 33.9 % -7.3 % 7,977 7,977 7,977 6,023 6,023 32.4 % 39.5 % -7.1 %
ERLEADA
-------------------------------------
US 275 275 235 235 17.2 % 17.2 % - 968 968 968 813 813 19.2 % 19.2 % -
Intl 266 266 149 149 78.0 % 97.8 % -19.8 % 913 913 913 478 478 * * *
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 541 541 384 384 40.9 % 48.6 % -7.7 % 1,881 1,881 1,881 1,291 1,291 45.7 % 53.0 % -7.3 %
IMBRUVICA
-------------------------------------
US 318 318 436 436 -27.0 % -27.0 % - 1,390 1,390 1,390 1,747 1,747 -20.4 % -20.4 % -
Intl 547 547 626 626 -12.5 % -2.0 % -10.5 % 2,394 2,394 2,394 2,622 2,622 -8.7 % 1.0 % -9.7 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 866 866 1,062 1,062 -18.5 % -12.3 % -6.2 % 3,784 3,784 3,784 4,369 4,369 -13.4 % -7.6 % -5.8 %
ZYTIGA / abiraterone acetate
-------------------------------------
US 20 20 23 23 -14.3 % -14.3 % - 74 74 74 119 119 -37.8 % -37.8 % -
Intl 250 250 525 525 -52.4 % -44.8 % -7.6 % 1,696 1,696 1,696 2,178 2,178 -22.1 % -12.3 % -9.8 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 270 270 548 548 -50.8 % -43.6 % -7.2 % 1,770 1,770 1,770 2,297 2,297 -22.9 % -13.6 % -9.3 %
OTHER ONCOLOGY
-------------------------------------
US 106 106 34 34 * * - 289 289 289 110 110 * * -
Intl 63 63 106 106 -41.1 % -33.1 % -8.0 % 283 283 283 458 458 -38.3 % -31.6 % -6.7 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 168 168 140 140 20.6 % 26.7 % -6.1 % 571 571 571 568 568 0.6 % 6.0 % -5.4 %
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER FOURTH QUARTER TWELVE MONTHS
------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------
% Change % Change
------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
------------------------------ -------------------- ------------------------------ ------------------------------ ------------------------------ ------------------------------ -------------------- ------------------------------ ------------------------------ ------------------------------
PULMONARY HYPERTENSION
-------------------------------------
US 610 587 587 3.9 % 3.9 % - 2,346 2,365 2,365 -0.8 % -0.8 % -
Intl 261 264 264 -1.3 % 13.5 % -14.8 % 1,071 1,085 1,085 -1.3 % 11.2 % -12.5 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 870 851 851 2.3 % 6.9 % -4.6 % 3,417 3,450 3,450 -1.0 % 3.0 % -4.0 %
OPSUMIT
-------------------------------------
US 305 286 286 7.0 % 7.0 % - 1,132 1,147 1,147 -1.3 % -1.3 % -
Intl 156 162 162 -3.7 % 11.0 % -14.7 % 651 672 672 -3.2 % 9.3 % -12.5 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 461 448 448 3.1 % 8.4 % -5.3 % 1,783 1,819 1,819 -2.0 % 2.6 % -4.6 %
UPTRAVI
-------------------------------------
US 280 264 264 6.3 % 6.3 % - 1,104 1,056 1,056 4.5 % 4.5 % -
Intl 56 46 46 20.4 % 33.3 % -12.9 % 218 181 181 20.4 % 32.4 % -12.0 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 336 310 310 8.4 % 10.3 % -1.9 % 1,322 1,237 1,237 6.9 % 8.6 % -1.7 %
OTHER PULMONARY HYPERTENSION
-------------------------------------
US 24 38 38 -35.5 % -35.5 % - 110 163 163 -32.3 % -32.3 % -
Intl 48 56 56 -12.2 % 4.4 % -16.6 % 202 232 232 -12.8 % 0.3 % -13.1 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 73 94 94 -21.7 % -11.8 % -9.9 % 313 395 395 -20.8 % -13.1 % -7.7 %
CARDIOVASCULAR / METABOLISM / OTHER
-------------------------------------
US 776 813 813 -4.4 % -4.4 % - 3,042 3,192 3,192 -4.7 % -4.7 % -
Intl 194 200 200 -3.4 % 5.7 % -9.1 % 845 927 927 -8.9 % -1.7 % -7.2 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 971 1,013 1,013 -4.2 % -2.4 % -1.8 % 3,887 4,119 4,119 -5.6 % -4.0 % -1.6 %
XARELTO
-------------------------------------
US 667 644 644 3.4 % 3.4 % - 2,473 2,438 2,438 1.4 % 1.4 % -
Intl - - - - - - - - - - - -
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 667 644 644 3.4 % 3.4 % - 2,473 2,438 2,438 1.4 % 1.4 % -
INVOKANA / INVOKAMET
-------------------------------------
US 29 59 59 -51.3 % -51.3 % - 193 308 308 -37.4 % -37.4 % -
Intl 62 60 60 2.3 % 11.2 % -8.9 % 255 254 254 0.1 % 7.3 % -7.2 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 91 120 120 -24.1 % -19.6 % -4.5 % 448 563 563 -20.4 % -17.2 % -3.2 %
OTHER
-------------------------------------
US 81 110 110 -25.7 % -25.7 % - 376 446 446 -15.5 % -15.5 % -
Intl 132 140 140 -5.9 % 3.3 % -9.2 % 590 673 673 -12.3 % -5.1 % -7.2 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW 213 250 250 -14.6 % -9.4 % -5.2 % 966 1,119 1,119 -13.6 % -9.3 % -4.3 %
TOTAL PHARMACEUTICAL
-------------------------------------
US 7,375 7,418 7,418 -0.6 % -0.6 % - 28,604 27,954 27,954 2.3 % 2.3 % -
Intl 5,788 6,799 6,799 -14.9 % -4.5 % -10.4 % 23,959 23,726 23,726 1.0 % 11.9 % -10.9 %
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- --------------------
WW $ $ 13,163 14,217 14,217 -7.4 % -2.5 % -4.9 % $ $ $ 52,563 51,680 51,680 1.7 % 6.7 % -5.0 %
==================== ==================== ========== ==================== ==================== ==================== ==================== ==================== ========== ==================== ====================
------------------------------------- -------------------- ---------------------------------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
------------------------------------- ------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER FOURTH QUARTER TWELVE MONTHS TWELVE MONTHS TWELVE MONTHS
------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------
% Change % Change
-------------------------------------------------------------------- --------------------------------------------------------------------
MEDTECH SEGMENT (2,3,5) 2022 2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
------------------------------------- ------------------------------------- ------------------------------ -------------------- ------------------- ------------------- ------------------------------ ------------------------------ -------------------- ------------------- ------------------- ------------------------------
INTERVENTIONAL SOLUTIONS
-------------------------------------
US $ $ 603 483 483 24.9 % 24.9 % - $ $ $ 2,169 1,836 1,836 18.2 % 18.2 % -
Intl 495 536 536 -7.6 % 6.2 % -13.8 % 2,131 2,135 2,135 -0.2 % 9.9 % -10.1 %
------------------------------------- -------------------- ---------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- ---------- -------------------- --------------------
WW 1,098 1,019 1,019 7.8 % 15.1 % -7.3 % 4,300 3,971 3,971 8.3 % 13.7 % -5.4 %
ORTHOPAEDICS
-------------------------------------
US 1,385 1,305 1,305 6.1 % 6.1 % - 5,321 5,126 5,126 3.8 % 3.8 % -
Intl 763 851 851 -10.4 % 0.8 % -11.2 % 3,267 3,462 3,462 -5.6 % 3.4 % -9.0 %
------------------------------------- -------------------- ---------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- ---------- -------------------- --------------------
WW 2,148 2,155 2,155 -0.4 % 4.0 % -4.4 % 8,587 8,588 8,588 0.0 % 3.7 % -3.7 %
HIPS
-------------------------------------
US 250 227 227 9.7 % 9.7 % - 943 878 878 7.3 % 7.3 % -
Intl 135 151 151 -10.4 % 0.4 % -10.8 % 571 602 602 -5.1 % 3.6 % -8.7 %
------------------------------------- -------------------- ---------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- ---------- -------------------- --------------------
WW 385 378 378 1.7 % 6.0 % -4.3 % 1,514 1,480 1,480 2.3 % 5.8 % -3.5 %
KNEES
-------------------------------------
US 231 208 208 11.8 % 11.8 % - 851 787 787 8.2 % 8.2 % -
Intl 122 135 135 -9.5 % 1.2 % -10.7 % 508 538 538 -5.7 % 3.1 % -8.8 %
------------------------------------- -------------------- ---------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- ---------- -------------------- --------------------
WW 354 342 342 3.4 % 7.6 % -4.2 % 1,359 1,325 1,325 2.6 % 6.1 % -3.5 %
TRAUMA
-------------------------------------
US 470 467 467 0.7 % 0.7 % - 1,882 1,819 1,819 3.5 % 3.5 % -
Intl 240 261 261 -7.9 % 3.5 % -11.4 % 989 1,066 1,066 -7.2 % 2.6 % -9.8 %
------------------------------------- -------------------- ---------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- ---------- -------------------- --------------------
WW 710 728 728 -2.4 % 1.7 % -4.1 % 2,871 2,885 2,885 -0.5 % 3.1 % -3.6 %
SPINE, SPORTS & OTHER
-------------------------------------
US 434 403 403 7.5 % 7.5 % - 1,645 1,642 1,642 0.2 % 0.2 % -
Intl 265 304 304 -12.9 % -1.5 % -11.4 % 1,198 1,256 1,256 -4.6 % 4.3 % -8.9 %
------------------------------------- -------------------- ---------- -------------------- -------------------- ------------------------------------- ------------------------------------- -------------------- ---------- -------------------- --------------------
WW 699 708 708 -1.3 % 3.6 % -4.9 % 2,843 2,898 2,898 -1.9 % 1.9 % -3.8 %
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
FOURTH QUARTER FOURTH QUARTER TWELVE MONTHS
------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
% Change % Change
------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------------
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
---------------------------------------- -------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- ---------------------------------------- -------------------- ---------------------------------------- ---------------------------------------- ------------------------------
SURGERY
-------------------------------------
US 1,000 986 986 1.5 % 1.5 % - 3,897 3,867 3,867 0.8 % 0.8 % -
Intl 1,383 1,527 1,527 -9.4 % 1.4 % -10.8 % 5,793 5,945 5,945 -2.6 % 5.7 % -8.3 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 2,384 2,513 2,513 -5.1 % 1.4 % -6.5 % 9,690 9,812 9,812 -1.2 % 3.8 % -5.0 %
ADVANCED
-------------------------------------
US 456 457 457 -0.2 % -0.2 % - 1,784 1,761 1,761 1.3 % 1.3 % -
Intl 653 735 735 -11.1 % -0.4 % -10.7 % 2,785 2,861 2,861 -2.6 % 5.3 % -7.9 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 1,109 1,192 1,192 -7.0 % -0.3 % -6.7 % 4,569 4,622 4,622 -1.1 % 3.8 % -4.9 %
GENERAL
-------------------------------------
US 544 528 528 3.1 % 3.1 % - 2,113 2,105 2,105 0.4 % 0.4 % -
Intl 731 793 793 -7.8 % 3.0 % -10.8 % 3,008 3,085 3,085 -2.5 % 6.2 % -8.7 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 1,275 1,321 1,321 -3.5 % 3.0 % -6.5 % 5,121 5,190 5,190 -1.3 % 3.8 % -5.1 %
VISION
-------------------------------------
US 456 443 443 3.1 % 3.1 % - 1,990 1,857 1,857 7.2 % 7.2 % -
Intl 689 728 728 -5.4 % 5.9 % -11.3 % 2,859 2,831 2,831 1.0 % 11.1 % -10.1 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 1,145 1,171 1,171 -2.2 % 4.8 % -7.0 % 4,849 4,688 4,688 3.4 % 9.5 % -6.1 %
CONTACT LENSES / OTHER
-------------------------------------
US 343 316 316 8.6 % 8.6 % - 1,522 1,398 1,398 8.9 % 8.9 % -
Intl 489 518 518 -5.6 % 7.2 % -12.8 % 2,022 2,043 2,043 -1.0 % 10.1 % -11.1 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 831 833 833 -0.2 % 7.7 % -7.9 % 3,543 3,440 3,440 3.0 % 9.6 % -6.6 %
SURGICAL
-------------------------------------
US 113 126 126 -10.7 % -10.7 % - 468 459 459 2.0 % 2.0 % -
Intl 200 211 211 -5.0 % 2.9 % -7.9 % 837 788 788 6.2 % 13.7 % -7.5 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW 314 338 338 -7.1 % -2.2 % -4.9 % 1,306 1,248 1,248 4.6 % 9.4 % -4.8 %
TOTAL MEDTECH
-------------------------------------
US 3,445 3,216 3,216 7.1 % 7.1 % - 13,377 12,686 12,686 5.4 % 5.4 % -
Intl 3,331 3,643 3,643 -8.6 % 2.9 % -11.5 % 14,050 14,374 14,374 -2.3 % 6.9 % -9.2 %
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
WW $ $ 6,776 6,859 6,859 -1.2 % 4.9 % -6.1 % $ $ $ 27,427 27,060 27,060 1.4 % 6.2 % -4.8 %
==================== ==================== ==================== ==================== ==================== ==================== ==================== ==================== ==================== ==================== ====================
------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------------------
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) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Reported as U.S. sales
Supplemental Sales Reconciliation (Unaudited)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(Dollars in Millions)
----------------------------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
FOURTH QUARTER FOURTH QUARTER FOURTH QUARTER TWELVE MONTHS
----------------------------------------- -------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent Change Percent Change
----------------------------------------- -------------------- ------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------------------------------------------------------------------------------------- ------------------------------ -------------------- -------------------- -------------------- ----------------------------------------------------------------------------------------------------------------------------------
2022 2022 2022 2021 Total Operations Currency 2022 2021 Total Operations Currency
----------------------------------------- -------------------- ------------------------------ -------------------- -------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ ------------------------------ -------------------- -------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------
Pharmaceutical
U.S. $ $ 7,375 7,418 7,418 (0.6 (0.6 ) % (0.6 ) - - $ $ 28,604 27,954 27,954 2.3 2.3 % 2.3 - -
International 5,788 6,799 6,799 (14.9 (14.9 ) (4.5 (4.5 ) (10.4 (10.4 ) 23,959 23,726 23,726 1.0 1.0 11.9 11.9 (10.9 (10.9 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide 13,163 14,217 14,217 (7.4 (7.4 ) (2.5 (2.5 ) (4.9 (4.9 ) 52,563 51,680 51,680 1.7 1.7 6.7 6.7 (5.0 (5.0 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
COVID-19 Vaccine
U.S. 0 213 213 * * * * - - 120 634 634 (81.1 (81.1 ) (81.1 (81.1 ) - -
International 689 1,405 1,405 (50.9 (50.9 ) (45.0 (45.0 ) (5.9 (5.9 ) 2,059 1,751 1,751 17.6 17.6 32.1 32.1 (14.5 (14.5 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide 689 1,619 1,619 (57.4 (57.4 ) (52.2 (52.2 ) (5.2 (5.2 ) 2,179 2,385 2,385 (8.6 (8.6 ) 2.0 2.0 (10.6 (10.6 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Pharmaceutical excluding COVID-19 Vaccine
U.S. 7,375 7,205 7,205 2.4 2.4 2.4 2.4 - - 28,484 27,320 27,320 4.3 4.3 4.3 4.3 - -
International 5,099 5,394 5,394 (5.5 (5.5 ) 6.0 6.0 (11.5 (11.5 ) 21,900 21,975 21,975 (0.3 (0.3 ) 10.3 10.3 (10.6 (10.6 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide 12,474 12,599 12,599 (1.0 (1.0 ) 3.9 3.9 (4.9 (4.9 ) 50,384 49,295 49,295 2.2 2.2 6.9 6.9 (4.7 (4.7 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide
U.S. 12,516 12,163 12,163 2.9 2.9 2.9 2.9 - - 48,580 47,156 47,156 3.0 3.0 3.0 3.0 - -
International 11,190 12,641 12,641 (11.5 (11.5 ) (1.1 (1.1 ) (10.4 (10.4 ) 46,363 46,619 46,619 (0.6 (0.6 ) 9.1 9.1 (9.7 (9.7 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide 23,706 24,804 24,804 (4.4 (4.4 ) 0.9 0.9 (5.3 (5.3 ) 94,943 93,775 93,775 1.3 1.3 6.1 6.1 (4.8 (4.8 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
COVID-19 Vaccine
U.S. 0 213 213 * * * * - - 120 634 634 (81.1 (81.1 ) (81.1 (81.1 ) - -
International 689 1,405 1,405 (50.9 (50.9 ) (45.0 (45.0 ) (5.9 (5.9 ) 2,059 1,751 1,751 17.6 17.6 32.1 32.1 (14.5 (14.5 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide 689 1,619 1,619 (57.4 (57.4 ) (52.2 (52.2 ) (5.2 (5.2 ) 2,179 2,385 2,385 (8.6 (8.6 ) 2.0 2.0 (10.6 (10.6 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide
U.S. 12,516 11,950 11,950 4.7 4.7 4.7 4.7 - - 48,460 46,522 46,522 4.2 4.2 4.2 4.2 - -
International 10,501 11,236 11,236 (6.5 (6.5 ) 4.4 4.4 (10.9 (10.9 ) 44,304 44,868 44,868 (1.3 (1.3 ) 8.2 8.2 (9.5 (9.5 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Worldwide excluding COVID-19 Vaccine $ $ 23,017 23,186 23,186 (0.7 (0.7 ) % 4.6 (5.3 (5.3 ) $ $ 92,764 91,390 91,390 1.5 1.5 % 6.2 (4.7 (4.7 )
-------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------
Note: Columns and rows within tables may not add due to rounding
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q4 QTD - Income Before Tax by Segment*
Dollars in Millions
Consumer Health(1) Consumer Health(1) Pharmaceutical(1) MedTech Unallocated Consumer Health Worldwide Total
Separation Costs
------------------------------------------------ -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
2022 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
------------------------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------
Reported Income Before Tax by Segment$ 651 442 442 3,308 3,308 4,306 4,306 865 865 575 575 (153 (153 ) (420 (420 ) (470 (470 ) (67 (67 ) 4,201 4,201 4,836 4,836
% to Sales 17.3 % 11.9 11.9 % 25.1 25.1 % 30.3 30.3 % 12.8 12.8 % 8.4 8.4 % -0.6 -0.6 % -1.7 -1.7 % -2.0 -2.0 % -0.3 -0.3 % 17.7 17.7 % 19.5 19.5 %
Intangible asset amortization expense 84 100 100 717 717 761 761 260 260 260 260 - - - - - - - - 1,061 1,061 1,121 1,121
In-process research and development - - - 173 173 - - - - - - - - - - - - - - 173 173 - -
Litigation related 72 122 122 61 61 (35 (35 ) 129 129 187 187 - - - - - - - - 262 262 274 274
Loss/(gain) on securities - 1 1 23 23 (237 (237 ) (17 (17 ) 38 38 - - - - - - - - 6 6 (198 (198 )
Restructuring related 21 28 28 31 31 22 22 88 88 90 90 - - - - - - - - 140 140 140 140
Acquisition, integration and divestiture related - - - (104 (104 ) 5 5 300 300 21 21 - - - - - - - - 196 196 26 26
Medical Device Regulation - - - - - - - 88 88 73 73 - - - - - - - - 88 88 73 73
COVID-19 Vaccine related costs - - - 821 821 - - - - - - - - - - - - - - 821 821 - -
Consumer Health separation costs - - - - - - - - - - - - - - - 470 470 67 67 470 470 67 67
Other - - - - - - - - - - - - - - - - - - - - - - -
------------------------------------------------ ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
Adjusted Income Before Tax by Segment$ 828 693 693 5,030 5,030 4,822 4,822 1,713 1,713 1,244 1,244 (153 (153 ) (420 (420 ) - - - - 7,418 7,418 6,339 6,339
========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ====================
% to Sales 22.0 % 18.6 18.6 % 38.2 38.2 % 33.9 33.9 % 25.3 25.3 % 18.1 18.1 % -0.6 -0.6 % -1.7 -1.7 % 0.0 0.0 % 0.0 0.0 % 31.3 31.3 % 25.6 25.6 %
(1) Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q4 YTD - Income Before Tax by Segment*
Dollars in Millions
Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health
Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs Separation Costs
------------------------------------------------ ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------ --------------------
Consumer Health(1) Consumer Health(1) Pharmaceutical(1) MedTech Unallocated
------------------------------------------------ -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
2022 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
------------------------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------ ------------------------------
Reported Income Before Tax by Segment$ 2,930 1,573 1,573 15,901 15,901 17,969 17,969 4,607 4,607 4,373 4,373 (624 (624 ) (1,072 (1,072 ) (1,089 (1,089 ) (67 (67 ) 21,725 21,725 22,776 22,776
% to Sales 19.6 % 10.5 10.5 % 30.3 30.3 % 34.8 34.8 % 16.8 16.8 % 16.2 16.2 % -0.7 -0.7 % -1.1 -1.1 % -1.1 -1.1 % -0.1 -0.1 % 22.9 22.9 % 24.3 24.3 %
Intangible asset amortization expense 361 414 414 2,911 2,911 3,258 3,258 1,033 1,033 1,025 1,025 - - - - - - - - 4,305 4,305 4,697 4,697
In-process research and development - - - 783 783 - - - - 900 900 - - - - - - - - 783 783 900 900
Litigation related 150 1,603 1,603 104 104 640 640 612 612 85 85 - - - - - - - - 866 866 2,328 2,328
Loss/(gain) on securities - (18 (18 ) 696 696 (486 (486 ) (6 (6 ) (29 (29 ) - - - - - - - - 690 690 (533 (533 )
Restructuring related 91 119 119 63 63 76 76 309 309 278 278 - - - - - - - - 463 463 473 473
Acquisition, integration and divestiture related - - - (104 (104 ) (562 (562 ) 300 300 84 84 - - - - - - - - 196 196 (478 (478 )
Medical Device Regulation - - - - - - - 296 296 234 234 - - - - - - - - 296 296 234 234
COVID-19 Vaccine related costs - - - 1,474 1,474 - - - - - - - - - - - - - - 1,474 1,474 - -
Consumer Health separation costs - - - - - - - - - - - - - - - 1,089 1,089 67 67 1,089 1,089 67 67
Other - - - - - - - - - - - (7 (7 ) - - - - - - (7 (7 ) - -
------------------------------------------------ ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------------------
Adjusted Income Before Tax by Segment$ 3,532 3,691 3,691 21,828 21,828 20,895 20,895 7,151 7,151 6,950 6,950 (631 (631 ) (1,072 (1,072 ) - - - - 31,880 31,880 30,464 30,464
========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ==================== ==================== ========== ====================
% to Sales 23.6 % 24.5 24.5 % 41.5 41.5 % 40.4 40.4 % 26.1 26.1 % 25.7 25.7 % -0.7 -0.7 % -1.1 -1.1 % 0.0 0.0 % 0.0 0.0 % 33.6 33.6 % 32.5 32.5 %
(1) Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
Johnson & Johnson and Subsidiaries
GAAP to Non-GAAP Reconciliation
$ in Millions
Quarter to Date
Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health
separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax
related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ -------------------- ------------------------------
Fourth Quarter Fourth Quarter In-process In-process In-process In-process In-process In-process Acquisition, integration and Acquisition, integration and Acquisition, integration and Acquisition, integration and (Loss)/gain on (Loss)/gain on COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine Consumer Health Consumer Health Tax legislation
research and research and research and research and research and research and divestiture related (1) divestiture related (1) divestiture related (1) divestiture related (1) securities securities Related Costs Related Costs Related Costs Related Costs separation costs separation costs and other tax
development development development development development development related
------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ --------------------
Jan 1, 2023 Jan 1, 2023 Intangible asset Intangible asset Litigation related Litigation related Restructuring Restructuring Restructuring Medical Device Medical Device Medical Device Medical Device Other Other Other Other Other Other Jan 1, 2023 Jan 1, 2023
GAAP GAAP amortization amortization related related related Regulation Regulation Regulation Regulation Non-GAAP Non-GAAP
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ ------------- ------------------------------------------------ -------------- -------------------- ---------------------------- ---------------------------------- -------------------- ---------- -------------------- -------------------- ---------- ---------------------------------------- ----------- ----------------------------------------
Cost of products sold $ 7,765 (1,060 (1,060 ) (36 (36 (36 (36 (36 (36 ) (33 (33 (33 (33 (33 (33 ) (160 (160 ) (4 (4 ) - - - - - - 6,472 6,472
Selling, marketing and admin expenses 6,512 (9 (9 (9 (9 (9 (9 (9 (9 (9 (9 (9 (9 (9 (9 ) - - (43 (43 ) 6,460 6,460 6,460 6,460 6,460 6,460 6,460 6,460
Research and development expense 3,841 - - - - - - - - - - (46 (46 (46 (46 ) (114 (114 ) - - 3,681 3,681 3,681 3,681 3,681 3,681 3,681 3,681
Other (Income) / Expense 1,207 (1 (1 ) (262 (262 ) (20 (20 (20 (20 ) (196 (196 ) (6 (6 ) (547 (547 (547 (547 ) (423 (423 ) - - - - - - (248 (248 )
In-process research and development 173 (173 (173 (173 (173 (173 (173 ) - - - - - - - - - - - - - - - - - - - -
Restructuring 84 (84 (84 (84 (84 (84 (84 (84 (84 ) - - - - - - - - - - - - - - - - - -
Provision for taxes on income 681 165 165 (36 (36 ) 40 40 21 21 5 5 2 2 17 17 199 199 94 94 (35 (35 ) 47 47 - - 1,200 1,200
Net Earnings 3,520 896 896 298 298 133 133 119 119 191 191 4 4 71 71 622 622 376 376 35 35 (47 (47 ) - - 6,218 6,218
Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health
separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax
related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ -------------------- ------------------------------
Fourth Quarter Fourth Quarter In-process In-process In-process In-process In-process In-process Acquisition, integration and Acquisition, integration and Acquisition, integration and Acquisition, integration and (Loss)/gain on (Loss)/gain on COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine Consumer Health Consumer Health Tax legislation and
research and research and research and research and research and research and divestiture related divestiture related divestiture related divestiture related securities securities Related Costs Related Costs Related Costs Related Costs separation costs separation costs other tax related
development development development development development development
------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ --------------------
Jan 2, 2022 Jan 2, 2022 Intangible asset Intangible asset Litigation related Litigation related Restructuring Restructuring Restructuring Medical Device Medical Device Medical Device Medical Device Other Other Other Other Other Other Jan 2, 2022 Jan 2, 2022
GAAP GAAP amortization amortization related related related Regulation Regulation Regulation Regulation Non-GAAP Non-GAAP
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ ------------- ------------------------------------------------ -------------- -------------------- ---------------------------- ---------------------------------- -------------------- ---------- -------------------- -------------------- ---------- ---------------------------------------- ----------- ----------------------------------------
Cost of products sold $ 7,955 (1,111 (1,111 ) (21 (21 (21 (21 (21 (21 ) (26 (26 (26 (26 (26 (26 ) 6,797 6,797 6,797 6,797 6,797 6,797 6,797 6,797 6,797 6,797 6,797 6,797
Selling, marketing and admin expenses 7,154 (7 (7 (7 (7 (7 (7 (7 (7 (7 (7 (7 (7 (7 (7 ) 7,147 7,147 7,147 7,147 7,147 7,147 7,147 7,147 7,147 7,147 7,147 7,147
Research and development expense 4,720 - - - - - - - - - - (40 (40 (40 (40 ) 4,680 4,680 4,680 4,680 4,680 4,680 4,680 4,680 4,680 4,680 4,680 4,680
Other (Income) / Expense 9 (10 (10 ) (274 (274 ) (36 (36 (36 (36 ) (26 (26 ) 198 198 - - - - (67 (67 ) - - - - - - (206 (206 )
In-process research and development - - - - - - - - - - - - - - - - - - - - - - - - - - -
Restructuring 83 (83 (83 (83 (83 (83 (83 (83 (83 ) - - - - - - - - - - - - - - - - - -
Provision for taxes on income 100 162 162 49 49 - - 27 27 6 6 (89 (89 ) 14 14 - - 15 15 - - 377 377 - - 661 661
Net Earnings 4,736 959 959 225 225 - - 113 113 20 20 (109 (109 ) 59 59 - - 52 52 - - (377 (377 ) - - 5,678 5,678
Year to Date
Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health
separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax
related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ -------------------- ------------------------------
Twelve Months Twelve Months In-process In-process In-process In-process In-process In-process Acquisition, integration and Acquisition, integration and Acquisition, integration and Acquisition, integration and (Loss)/gain on (Loss)/gain on COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine Consumer Health Consumer Health Tax legislation
research and research and research and research and research and research and divestiture related (1) divestiture related (1) divestiture related (1) divestiture related (1) securities securities Related Costs Related Costs Related Costs Related Costs separation costs separation costs and other tax
development development development development development development related
------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ --------------------
Jan 1, 2023 Jan 1, 2023 Intangible asset Intangible asset Litigation related Litigation related Restructuring Restructuring Restructuring Medical Device Medical Device Medical Device Medical Device Other Other Other Other Other Other Jan 1, 2023 Jan 1, 2023
GAAP GAAP amortization amortization related related related Regulation Regulation Regulation Regulation Non-GAAP Non-GAAP
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ ------------- ------------------------------------------------ -------------- -------------------- ---------------------------- ---------------------------------- -------------------- ---------- -------------------- -------------------- ---------- ---------------------------------------- ----------- ----------------------------------------
Cost of products sold $ 31,089 (4,292 (4,292 ) (82 (82 (82 (82 (82 (82 ) (109 (109 (109 (109 (109 (109 ) (456 (456 ) (4 (4 ) 26,146 26,146 26,146 26,146 26,146 26,146 26,146 26,146
Selling, marketing and admin expenses 24,765 (28 (28 (28 (28 (28 (28 (28 (28 (28 (28 (28 (28 (28 (28 ) (45 (45 (45 (45 ) 24,692 24,692 24,692 24,692 24,692 24,692 24,692 24,692
Research and development expense 14,603 - - - - - - - - - - (159 (159 (159 (159 ) (304 (304 ) 14,140 14,140 14,140 14,140 14,140 14,140 14,140 14,140 14,140 14,140
Other (Income) / Expense 1,871 (13 (13 ) (866 (866 ) (60 (60 (60 (60 ) (196 (196 ) (690 (690 ) (714 (714 (714 (714 ) (1,040 (1,040 ) - - 7 7 7 7 (1,701 (1,701 )
In-process research and development 783 (783 (783 (783 (783 (783 (783 ) - - - - - - - - - - - - - - - - - - - -
Restructuring 321 (321 (321 (321 (321 (321 (321 (321 (321 ) - - - - - - - - - - - - - - - - - -
Provision for taxes on income 3,784 667 667 (125 (125 ) 178 178 81 81 5 5 166 166 56 56 360 360 206 206 (494 (494 ) (40 (40 ) (2 (2 ) 4,842 4,842
Net Earnings 17,941 3,638 3,638 991 991 605 605 382 382 191 191 524 524 240 240 1,114 1,114 883 883 494 494 40 40 (5 (5 ) 27,038 27,038
Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health Consumer Health
separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax separation tax
related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs related costs
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ -------------------- ------------------------------
Twelve Months Twelve Months In-process In-process In-process In-process In-process In-process Acquisition, integration and Acquisition, integration and Acquisition, integration and Acquisition, integration and (Loss)/gain on (Loss)/gain on COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine COVID-19 Vaccine Consumer Health Consumer Health Tax legislation
research and development research and development research and development research and development research and development research and development divestiture related (1) divestiture related (1) divestiture related (1) divestiture related (1) securities securities Related Costs Related Costs Related Costs Related Costs separation costs separation costs and other tax
related
------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ --------------------------------- ---------------------------- ---------------------------------- ---------------------------- ---------------------------------- -------------------- ------------------------------ -------------------- ------------------------------ -------------------- ------------------------------- -------------------- ------------------------------ --------------------
Jan 2, 2022 Jan 2, 2022 Intangible asset Intangible asset Litigation related Litigation related Restructuring Restructuring Restructuring Medical Device Medical Device Medical Device Medical Device Other Other Other Other Other Other Jan 2, 2022 Jan 2, 2022
GAAP GAAP amortization amortization related related related Regulation Regulation Regulation Regulation Non-GAAP Non-GAAP
------------------------------------- ------------------------------ ------------------------ -------------------------------- ------------------------ -------------------------------- ------------------------ ------------- ------------------------------------------------ -------------- -------------------- ---------------------------- ---------------------------------- -------------------- ---------- -------------------- -------------------- ---------- ---------------------------------------- ----------- ----------------------------------------
Cost of products sold $ 29,855 (4,661 (4,661 ) (86 (86 (86 (86 (86 (86 ) (85 (85 (85 (85 (85 (85 ) 25,023 25,023 25,023 25,023 25,023 25,023 25,023 25,023 25,023 25,023 25,023 25,023
Selling, marketing and admin expenses 24,659 (24 (24 (24 (24 (24 (24 (24 (24 (24 (24 (24 (24 (24 (24 ) 24,635 24,635 24,635 24,635 24,635 24,635 24,635 24,635 24,635 24,635 24,635 24,635
Research and development expense 14,714 - - - - - - - - - - (125 (125 (125 (125 ) 14,589 14,589 14,589 14,589 14,589 14,589 14,589 14,589 14,589 14,589 14,589 14,589
Other (Income) / Expense 489 (36 (36 ) (2,328 (2,328 ) (135 (135 (135 (135 ) 478 478 533 533 - - - - (67 (67 ) - - - - - - (1,066 (1,066 )
In-process research and development 900 (900 (900 (900 (900 (900 (900 ) - - - - - - - - - - - - - - - - - - - -
Restructuring 252 (252 (252 (252 (252 (252 (252 (252 (252 ) - - - - - - - - - - - - - - - - - -
Provision for taxes on income 1,898 667 667 481 481 202 202 86 86 (98 (98 ) (116 (116 ) 44 44 - - 15 15 - - 1,090 1,090 - - 4,269 4,269
Net Earnings 20,878 4,030 4,030 1,847 1,847 698 698 387 387 (380 (380 ) (417 (417 ) 190 190 - - 52 52 - - (1,090 (1,090 ) - - 26,195 26,195
View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005275/en/
SOURCE: Johnson & Johnson
Press Contacts: Tesia Williams media-relations@its.jnj.com Investor Contacts: Jessica Moore RA-JJCUS-InvestorRel@ITS.JNJ.com
COMTEX_423200286/1006/2023-01-24T06:25:00