JNJ
$128.60
Johnson & Johnson
($.20)
(.16%)
Earnings Details
4th Quarter December 2018
Tuesday, January 22, 2019 6:40:00 AM
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Summary

Johnson & Johnson Misses

Johnson & Johnson (JNJ) reported 4th Quarter December 2018 earnings of $1.97 per share on revenue of $20.4 billion. The consensus earnings estimate was $1.95 per share on revenue of $20.1 billion. The Earnings Whisper number was $1.98 per share. Revenue grew 1.0% on a year-over-year basis.

The company said it expects 2019 earnings of $8.50 to $8.65 per share on revenue of $80.40 billion to $81.20 billion. The current consensus earnings estimate is $8.64 per share on revenue of $82.80 billion for the year ending December 31, 2019.

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of products in the health care field within its Consumer, Pharmaceutical and Medical Devices, and Diagnostics business segments.

Results
Reported Earnings
$1.97
Earnings Whisper
$1.98
Consensus Estimate
$1.95
Reported Revenue
$20.39 Bil
Revenue Estimate
$20.11 Bil
Growth
Earnings Growth
Revenue Growth
Guidance
Power Rating
Grade
Earnings Release

Johnson & Johnson Reports 2018 Fourth-Quarter Results:

NEW BRUNSWICK, N.J., Jan. 22, 2019 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $20.4 billion for the fourth quarter of 2018, an increase of 1.0% as compared to the fourth quarter of 2017. Operational sales results increased 3.3% and the negative impact of currency was 2.3%. Domestic sales increased 1.5%. International sales increased 0.4%, reflecting operational growth of 5.1% and a negative currency impact of 4.7%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales for the fourth quarter of 2018 increased 5.3%, domestic sales increased 2.6% and international sales increased 8.3%.*

Worldwide sales for the full-year 2018 were $81.6 billion, an increase of 6.7% versus 2017. Operational results increased 6.3% and the positive impact of currency was 0.4%. Domestic sales increased 5.1%. International sales increased 8.5%, reflecting operational growth of 7.7% and a positive currency impact of 0.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales for the full-year 2018 increased 5.5%, domestic sales increased 3.4% and international sales increased 7.8%.*

Net earnings and diluted earnings per share for the fourth quarter of 2018 were $3.0 billion and $1.12, respectively. Fourth-quarter 2018 net earnings included after-tax intangible amortization expense of approximately $1.0 billion and a net charge for after-tax special items of approximately $1.4 billion.   Fourth-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.9 billion and a net charge for after-tax special items of approximately $14.6 billion. Included in these special items was the provisional amount of approximately $13.6 billion associated with the enactment of tax legislation.  Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.4 billion and adjusted diluted earnings per share were $1.97, representing increases of 12.5% and 13.2%, respectively, as compared to the same period in 2017.* On an operational basis, adjusted diluted earnings per share increased 16.1%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

Net earnings and diluted earnings per share for the full-year 2018 were $15.3 billion and $5.61, respectively.  Full-year net earnings included after-tax intangible amortization expense of approximately $3.9 billion and a net charge for after-tax special items of approximately $3.1 billion. Full-year 2017 net earnings included after-tax intangible amortization expense of approximately $2.5 billion and a charge for after-tax special items of approximately $16.2 billion.  Included in these special items was a provisional amount of approximately $13.6 billion associated with the enactment of tax legislation.  Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the full-year of 2018 were $22.3 billion and adjusted diluted earnings per share were $8.18, representing increases of 11.4% and 12.1%, respectively, as compared to the same period in 2017.* On an operational basis, adjusted diluted earnings per share also increased 10.4%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

"Johnson & Johnson delivered another year of strong operational sales growth of 6.3% and achieved our 35th consecutive year of adjusted operational earnings growth at 9.8% in 2018. This can be attributed to accelerated underlying sales performance across each of our businesses, where we also leveraged our scale across the enterprise to improve margins," said Alex Gorsky, Chairman and Chief Executive Officer. "Looking ahead, the strength of our broad-based business and disciplined approach to portfolio management positions us to continue to fuel investments in innovation that enable us to capitalize on strategic opportunities and deliver strong performance over the long-term." 

Mr. Gorsky continued, "Our performance is the result of our talented Johnson & Johnson colleagues and their extraordinary dedication to help advance health and well-being for patients and customers around the world."

In December, the Company announced a share repurchase program of up to $5.0 billion of the Company's common stock. Repurchases may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The repurchase program has no time limit and may be suspended for periods or discontinued at any time.

The Company announced its 2019 full-year guidance for sales of $80.4 billion to $81.2 billion reflecting expected operational growth in the range of 0.0% to 1.0% and expected adjusted operational growth in the range of 2.0% to 3.0%. The Company also announced adjusted earnings guidance for full-year 2019 of $8.50 to $8.65 per share reflecting expected operational growth in the range of 5.7% to 7.6%.* Adjusted earnings guidance excludes the impact of after-tax intangible amortization expense and special items.

Segment Sales Performance
Worldwide Consumer sales of $13.9 billion for the full-year 2018 represented an increase of 1.8% versus the prior year, consisting of an operational increase of 2.2% and a negative impact from currency of 0.4%. Domestic sales increased 3.5%; international sales increased 0.7%, which reflected an operational increase of 1.4% and a negative currency impact of 0.7%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.2%, domestic sales increased 3.1% and international sales increased 3.3%*.

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by growth in over-the-counter products, including TYLENOL and MOTRIN analgesics and digestive health products; NEUTROGENA and OGX beauty products; and LISTERINE oral care products. Subsequent to the quarter, the Company announced the completion of the acquisition of Ci:z Holdings Co., Ltd., which markets the DR.CI:LABO, LABO  LABO and GENOMER line of skincare products.

Worldwide Pharmaceutical sales of $40.7 billion for the full-year 2018 represented an increase of 12.4% versus the prior year with an operational increase of 11.8% and a positive impact from currency of 0.6%. Domestic sales increased 8.4%; international sales increased 18.0%, which reflected an operational increase of 16.5% and a positive currency impact of 1.5%. Sales included the impact of Actelion Ltd which contributed 3.4%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 8.4%, domestic sales increased 4.9% and international sales increased 13.5%.* 

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by STELARA (ustekinumab) and SIMPONI/SIMPONI ARIA (golimumab), biologics for the treatment of  a number of immune-mediated inflammatory diseases, ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer, DARZALEX (daratumumab), for the treatment of patients with multiple myeloma, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, TREMFYA (guselkumab), for the treatment of adults living with moderate to severe plaque psoriasis,  INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), a long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, partially offset by declines in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, due to biosimilar entrants.

During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for INVOKANA (canagliflozin) to reduce the risk of major adverse cardiovascular (CV) events, including heart attack, stroke or death due to a cardiovascular cause in adults with type 2 diabetes who have established CV disease. In addition, the European Commission approved apalutamide, a next generation oral androgen receptor inhibitor for the treatment of adult patients with non-metastatic castration-resistant prostate cancer (nmCRPC) who are at high risk of developing metastatic disease.

A supplemental Biologics License Application was submitted to the FDA and a Type II Variation Application was submitted to European Medicines Agency (EMA) seeking approval of STELARA (ustekinumab) for the treatment of adults with moderately to severely active ulcerative colitis. A supplemental New Drug Application was submitted to the FDA seeking to broaden the use of XARELTO (rivaroxaban) for the prevention of venous thromboembolism (VTE), or blood clots, in medically ill patients. Two Type II Variation Applications were submitted to EMA for the expanded use of IMBRUVICA (ibrutinib) in combination with obinutuzumab in previously untreated adults with chronic lymphocytic leukemia and in combination with rituximab for the treatment of previously untreated and relapsed/refractory adults with Waldenström's macroglobulinemia.

Additionally, the Company entered into a worldwide collaboration and license agreement with argenx BVBA and argenx SE to develop and commercialize cusatuzumab (ARGX-110), an investigational therapeutic antibody that targets CD70, an immune checkpoint implicated in numerous cancers, including hematological malignancies.

Worldwide Medical Devices sales of $27.0 billion for the full-year 2018 represented an increase of 1.5% versus the prior year consisting of an operational increase of 1.1% and a positive currency impact of 0.4%. Domestic sales increased 0.1%; international sales increased 2.8%, which reflected an operational increase of 1.9% and a positive currency impact of 0.9%. Sales included the impact of the divestiture of its Lifescan business which negatively impacted worldwide operational sales growth by 1.4%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 2.6%, domestic sales increased 1.0% and international sales increased 4.0%.*

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by electrophysiology products in the Interventional Solutions business; ACUVUE contact lenses and surgical products in the Vision business; wound closure products in the General Surgery business; along with endocutters and biosurgicals in the Advanced Surgery business.

About Johnson & Johnson
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

* Operational sales growth excluding the net impact of acquisitions and divestitures, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the company's website at www.investor.jnj.com. 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.

Johnson & Johnson will conduct a conference call with investors to discuss this news 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 at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm. 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 be found on the company's website at www.investor.jnj.com.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including unexpected clinical trial results, additional analysis of existing clinical data, uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; the impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans, including restructuring plans; 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, global health care reforms and import/export and trade laws; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the company's most recently filed Quarterly Report on Form 10-Q and in the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

(Unaudited; Dollars in Millions)

FOURTH QUARTER


TWELVE MONTHS






Percent Change






Percent Change


2018


2017


Total


Operations


Currency


2018


2017


Total


Operations


Currency

Sales to customers by




















segment of business








































Consumer




















    U.S.

$     1,479


1,379


7.3

%

7.3


-


$     5,761


5,565


3.5

%

3.5


-

    International

2,057


2,161


(4.8)


0.8


(5.6)


8,092


8,037


0.7


1.4


(0.7)


3,536


3,540


(0.1)


3.3


(3.4)


13,853


13,602


1.8


2.2


(0.4)





















Pharmaceutical




















    U.S.

5,936


5,776


2.8


2.8


-


23,286


21,474


8.4


8.4


-

    International

4,254


3,905


8.9


13.7


(4.8)


17,448


14,782


18.0


16.5


1.5


10,190


9,681


5.3


7.2


(1.9)


40,734


36,256


12.4


11.8


0.6





















Medical Devices




















    U.S.

3,214


3,314


(3.0)


(3.0)


-


12,837


12,824


0.1


0.1


-

    International

3,454


3,660


(5.6)


(1.4)


(4.2)


14,157


13,768


2.8


1.9


0.9


6,668


6,974


(4.4)


(2.2)


(2.2)


26,994


26,592


1.5


1.1


0.4





















U.S.

10,629


10,469


1.5


1.5


-


41,884


39,863


5.1


5.1


-

International

9,765


9,726


0.4


5.1


(4.7)


39,697


36,587


8.5


7.7


0.8

Worldwide

$   20,394


20,195


1.0

%

3.3


(2.3)


$   81,581


76,450


6.7

%

6.3


0.4

 

Johnson & Johnson and Subsidiaries




















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

FOURTH QUARTER


TWELVE MONTHS






Percent Change






Percent Change


2018


2017


Total


Operations


Currency


2018


2017


Total


Operations


Currency

Sales to customers by




















geographic area








































U.S.

$   10,629


10,469


1.5

%

1.5


-


$   41,884


39,863


5.1

%

5.1


-





















Europe

4,730


4,728


0.0


3.9


(3.9)


18,753


17,126


9.5


6.2


3.3

Western Hemisphere excluding U.S.

1,456


1,519


(4.1)


7.7


(11.8)


6,113


6,041


1.2


8.2


(7.0)

Asia-Pacific, Africa

3,579


3,479


2.9


5.8


(2.9)


14,831


13,420


10.5


9.4


1.1

International

9,765


9,726


0.4


5.1


(4.7)


39,697


36,587


8.5


7.7


0.8





















Worldwide

$   20,394


20,195


1.0

%

3.3


(2.3)


$   81,581


76,450


6.7

%

6.3


0.4

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

FOURTH QUARTER












2018


2017*


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$    20,394


100.0


$    20,195


100.0


1.0

Cost of products sold

6,961


34.1


7,259


36.0


(4.1)

Gross Profit

13,433


65.9


12,936


64.0


3.8

Selling, marketing and administrative expenses

5,991


29.4


6,045


29.9


(0.9)

Research and development expense

3,224


15.8


3,643


18.1


(11.5)

In-process research and development

-


-


408


2.0



Interest (income) expense, net

54


0.3


189


0.9



Other (income) expense, net

978


4.8


(53)


(0.3)



Restructuring

64


0.3


144


0.7



Earnings before provision for taxes on income

3,122


15.3


2,560


12.7


22.0

Provision for taxes on income

80


0.4


13,273


65.7


N/M

Net earnings/(Loss)

$      3,042


14.9


$   (10,713)


(53.0)


N/M











Net earnings/(Loss) per share (Diluted/Basic)**

$        1.12




$       (3.99)




N/M











Average shares outstanding (Diluted/Basic)**

2,724.0




2,684.9















Effective tax rate

2.6

%



518.5

%














Adjusted earnings before provision for taxes and net earnings (1)










Earnings before provision for taxes on income

$      6,046


29.6


$      5,251


26.0


15.1

Net earnings

$      5,372


26.3


$      4,777


23.7


12.5

Net earnings per share (Diluted)

$        1.97




$        1.74




13.2

   Average shares outstanding (Diluted)***

2,724.0




2,740.7





Effective tax rate

11.1

%



9.0

%














* 2017 Statement of Earnings line items have been restated to reflect impact of ASU 2017-07









** In 2017 basic shares are used to calculate loss per share as use of diluted shares when in a loss position would be anti-dilutive 





*** In 2017 difference of 55.8 shares due to anti-dilutive impact on net loss position 



















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




















N/M = Not Meaningful










 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

TWELVE MONTHS












2018


2017*


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$    81,581


100.0


$    76,450


100.0


6.7

Cost of products sold

27,091


33.2


25,439


33.3


6.5

Gross Profit

54,490


66.8


51,011


66.7


6.8

Selling, marketing and administrative expenses

22,540


27.6


21,520


28.1


4.7

Research and development expense

10,775


13.2


10,594


13.9


1.7

In-process research and development

1,126


1.4


408


0.6



Interest (income) expense, net

394


0.5


549


0.7



Other (income) expense, net

1,405


1.7


(42)


(0.1)



Restructuring

251


0.3


309


0.4



Earnings before provision for taxes on income

17,999


22.1


17,673


23.1


1.8

Provision for taxes on income

2,702


3.3


16,373


21.4


N/M

Net earnings

$    15,297


18.8


$      1,300


1.7


N/M











Net earnings per share (Diluted)

$        5.61




$        0.47




N/M











Average shares outstanding (Diluted)

2,728.7




2,745.3















Effective tax rate

15.0

%



92.6

%














Adjusted earnings before provision for taxes and net earnings (1)










Earnings before provision for taxes on income

$    26,698


32.7


$    24,212


31.7


10.3

Net earnings

$    22,315


27.4


$    20,040


26.2


11.4

Net earnings per share (Diluted)

$        8.18




$        7.30




12.1

Effective tax rate

16.4

%



17.2

%














* 2017 Statement of Earnings line items have been restated to reflect impact of ASU 2017-07



















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




















N/M = Not Meaningful










 

 

Johnson & Johnson and Subsidiaries
















Reconciliation of Non-GAAP Financial Measures


































Fourth Quarter


% Incr. /



Twelve Months 


% Incr. /



(Dollars in Millions Except Per Share Data)


2018


2017


(Decr.)



2018


2017


(Decr.)



















Earnings before provision for taxes on income - as reported

$    3,122


2,560


22.0

%


$ 17,999


17,673


1.8

%


Intangible asset amortization expense


1,073


1,077





4,357


2,963





Litigation expense, net


1,288


645





1,991


1,256





Actelion acquisition related cost


43


217





243


797





Restructuring/Other(1)


227


284





700


760





In-process research and development


-


408





1,126


408





Diabetes asset impairment


-


35





4


215





AMO acquisition related cost


27


25





109


140





Contingent liability reversal


-


-





(184)


-





Unrealized loss/(gain) on securities


182


-





179


-





Impact of tax legislation


72


-





72


-





Other


12


-





102


-





Earnings before provision for taxes on income - as adjusted

$    6,046


5,251


15.1

%


$ 26,698


24,212


10.3

%


















Net Earnings/(Loss) - as reported


$    3,042


(10,713)


 N/M 

%


$ 15,297


1,300


 N/M 

%


Intangible asset amortization expense


957


926





3,888


2,481





Litigation expense, net


1,113


506





1,722


955





Actelion acquisition related cost


39


313





232


767





Restructuring/Other


190


237





585


595





In-process research and development


-


266





859


266





Diabetes asset impairment


-


(116)





3


4





AMO acquisition related cost


21


(198)





89


116





Contingent liability reversal


-


-





(184)


-





Unrealized loss/(gain) on securities


143


-





141


-





Impact of tax legislation(2)


(137)


13,556





(390)


13,556





Other


4


-





73


-





Net Earnings - as adjusted 


$    5,372


4,777


12.5

%


$ 22,315


20,040


11.4

%


















Operational Increase






15.4

%






9.8

%


















Currency Increase/(Decrease)






(2.9)

%






1.6

%


















Diluted Net Earnings/(Loss) per share - as reported


$     1.12


(3.99)


 N/M 

%


$    5.61


0.47


 N/M 

%


Dilutive impact of shares excluded due to net loss position

-


0.08





-


-





Intangible asset amortization expense


0.35


0.34





1.42


0.90





Litigation expense, net


0.41


0.19





0.63


0.35





Actelion acquisition related cost


0.01


0.11





0.09


0.28





Restructuring/Other


0.07


0.08





0.21


0.22





In-process research and development


-


0.10





0.32


0.10





Diabetes asset impairment


-


(0.04)





-


-





AMO acquisition related cost


0.01


(0.07)





0.03


0.04





Contingent liability reversal


-


-





(0.07)


-





Unrealized loss/(gain) on securities


0.05


-





0.05


-





Impact of tax legislation


(0.05)


4.94





(0.14)


4.94





Other


-


-





0.03


-





Diluted Net Earnings per share - as adjusted 


$     1.97


1.74


13.2

%


$    8.18


7.30


12.1

%


















Operational Diluted Net Earnings per share - as adjusted
at 2016 foreign currency exchange rates




1.67







7.24





















Impact of currency at 2017 foreign currency exchange rates

0.05


0.07





(0.12)


0.06





















Operational Diluted Net Earnings per share - as adjusted
at 2017 foreign currency exchange rates


$     2.02


1.74


16.1

%


$    8.06


7.30


10.4

%


















(1) Includes $32M recorded in cost of products sold and $131M recorded in other (income) expense for the fourth quarter 2018, and $42M recorded in cost of products sold 

     and $98M recorded in other (income) expense for the fourth quarter 2017.














     Includes $105M recorded in cost of products sold and $344M recorded in other (income) expense for twelve months YTD 2018, and $88M recorded in cost of products sold

     and $363M recorded in other (income) expense for twelve months YTD 2017.






























(2) Includes foreign currency translation
































N/M = Not Meaningful
















 

 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Operational Sales Growth Excluding Acquisitions and Divestitures

 FOURTH QUARTER 2018 ACTUAL vs. 2017 ACTUAL 


 Segments 



 Consumer 


 Pharmaceutical 


 Medical Devices 


 Total 



Operational % (1)










 WW As Reported: 


3.3%


7.2%


(2.2)%


3.3%

 U.S. 


7.3%


2.8%


(3.0)%


1.5%

 International 


0.8%


13.7%


(1.4)%


5.1%










Wound Care / Other









Compeed


0.7






0.1

 U.S. 


0.0






0.0

 International 


1.2






0.3










Beauty









Nizoral


0.6






0.1

 U.S. 


0.4






0.0

 International 


0.8






0.2










OTC









Zarbees


(0.8)






(0.1)

 U.S. 


(2.2)






(0.2)

 International 


0.0






0.0










Diabetes Care









LifeScan






5.3


1.9

 U.S. 






3.7


1.2

 International 






6.8


2.7










All Other Acquisitions and Divestitures


0.0


0.0


0.2


0.0

 U.S. 


0.0


0.0


0.3


0.1

 International 


0.0


0.0


0.0


0.0










WW Ops excluding Acquisitions and Divestitures


3.8%


7.2%


3.3%


5.3%

 U.S. 


5.5%


2.8%


1.0%


2.6%

 International 


2.8%


13.7%


5.4%


8.3%










(1)Operational growth excludes the effect of translational currency








 

 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Operational Sales Growth Excluding Acquisitions and Divestitures

 TWELVE MONTHS 2018 ACTUAL vs. 2017 ACTUAL 


 Segments 



Consumer


 Pharmaceutical 


 Medical Devices 


 Total 



Operational % (1)










 WW As Reported: 


2.2%


11.8%


1.1%


6.3%

 U.S. 


3.5%


8.4%


0.1%


5.1%

 International 


1.4%


16.5%


1.9%


7.7%










Pulmonary Hypertension









Actelion




(3.2)




(1.5)

 U.S. 




(3.4)




(1.8)

 International 




(2.8)




(1.1)










Cardiovascular / Metabolism / Other









Actelion




(0.2)




(0.1)

 U.S. 




(0.1)




(0.1)

 International 




(0.2)




(0.1)










Spine & Other 









Codman Neuroscience






0.7


0.3

 U.S. 






0.5


0.2

 International 






1.1


0.4










Wound Care / Other









Compeed


0.9






0.2

 U.S. 


0.0






0.0

 International 


1.4






0.4










Vision









Vision Surgical & Eye Health Business






(0.7)


(0.3)

  U.S.  






(0.7)


(0.2)

  International  






(0.8)


(0.3)










Beauty









Nizoral


0.3






0.1

  U.S.  


0.2






0.0

  International  


0.4






0.1










OTC









Zarbees


(0.3)






0.0

  U.S.  


(0.6)






(0.1)

  International  


0.0






0.0










Diabetes Care









LifeScan






1.4


0.5

  U.S.  






0.9


0.3

  International  






1.8


0.7










All Other Acquisitions and Divestitures


0.1


0.0


0.1


0.0

 U.S. 


0.0


0.0


0.2


0.0

 International 


0.1


0.0


0.0


0.0










WW Ops excluding Acquisitions and Divestitures


3.2%


8.4%


2.6%


5.5%

 U.S. 


3.1%


4.9%


1.0%


3.4%

 International 


3.3%


13.5%


4.0%


7.8%










(1)Operational growth excludes the effect of translational currency









 

 

 



REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2018


2017

Reported

Operational (1)

Currency



2018


2017

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2) 
















BABY CARE
















US


$          116


$           123

-5.7%

-5.7%

-



$              422


$             449

-6.0%

-6.0%

-

Intl


357


367

-2.7%

4.8%

-7.5%



1,436


1,467

-2.1%

0.8%

-2.9%

WW


473


490

-3.5%

2.1%

-5.6%



1,858


1,916

-3.0%

-0.8%

-2.2%

BEAUTY
















US


612


596

2.7%

2.7%

-



2,403


2,335

2.9%

2.9%

-

Intl


499


514

-2.9%

2.4%

-5.3%



1,979


1,865

6.1%

6.2%

-0.1%

WW


1,111


1,110

0.1%

2.5%

-2.4%



4,382


4,200

4.3%

4.4%

-0.1%

ORAL CARE
















US


165


156

5.8%

5.8%

-



637


616

3.4%

3.4%

-

Intl


234


237

-1.3%

3.5%

-4.8%



918


915

0.3%

0.5%

-0.2%

WW


399


393

1.5%

4.4%

-2.9%



1,555


1,531

1.6%

1.7%

-0.1%

OTC
















US


491


406

20.9%

20.9%

-



1,850


1,716

7.8%

7.8%

-

Intl


657


699

-6.0%

-2.0%

-4.0%



2,484


2,410

3.1%

2.1%

1.0%

WW


1,148


1,105

3.9%

6.4%

-2.5%



4,334


4,126

5.0%

4.4%

0.6%

WOMEN'S HEALTH
















US


3


3

0.0%

0.0%

-



13


12

8.3%

8.3%

-

Intl


254


259

-1.9%

7.9%

-9.8%



1,036


1,038

-0.2%

3.5%

-3.7%

WW


257


262

-1.9%

7.8%

-9.7%



1,049


1,050

-0.1%

3.5%

-3.6%

WOUND CARE / OTHER
















US


92


95

-3.2%

-3.2%

-



436


437

-0.2%

-0.2%

-

Intl


56


85

-34.1%

-31.2%

-2.9%



239


342

-30.1%

-30.2%

0.1%

WW


148


180

-17.8%

-16.4%

-1.4%



675


779

-13.4%

-13.5%

0.1%

















TOTAL CONSUMER
















US


1,479


1,379

7.3%

7.3%

-



5,761


5,565

3.5%

3.5%

-

Intl


2,057


2,161

-4.8%

0.8%

-5.6%



8,092


8,037

0.7%

1.4%

-0.7%

WW


$       3,536


$        3,540

-0.1%

3.3%

-3.4%



$         13,853


$        13,602

1.8%

2.2%

-0.4%

















 

 



REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2018


2017

Reported

Operational (1)

Currency



2018


2017

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2)(5)
















IMMUNOLOGY
















US


$       2,356


$        2,227

5.8%

5.8%

-



$           9,073


$          8,871

2.3%

2.3%

-

Intl


986


859

14.8%

19.8%

-5.0%



4,047


3,373

20.0%

18.9%

1.1%

WW


3,342


3,086

8.3%

9.7%

-1.4%



13,120


12,244

7.2%

6.9%

0.3%

REMICADE
















US 


843


1,073

-21.4%

-21.4%

-



3,664


4,525

-19.0%

-19.0%

-

US Exports (3)


90


115

-21.7%

-21.7%

-



436


563

-22.6%

-22.6%

-

Intl


305


278

9.7%

15.4%

-5.7%



1,226


1,227

-0.1%

0.5%

-0.6%

WW


1,238


1,466

-15.6%

-14.5%

-1.1%



5,326


6,315

-15.7%

-15.6%

-0.1%

SIMPONI / SIMPONI ARIA
















US


272


253

7.5%

7.5%

-



1,051


954

10.2%

10.2%

-

Intl


210


237

-11.4%

-6.3%

-5.1%



1,033


879

17.5%

16.7%

0.8%

WW


482


490

-1.6%

0.9%

-2.5%



2,084


1,833

13.7%

13.3%

0.4%

STELARA
















US


1,009


740

36.4%

36.4%

-



3,469


2,767

25.4%

25.4%

-

Intl


435


341

27.6%

32.0%

-4.4%



1,687


1,244

35.6%

32.7%

2.9%

WW


1,444


1,081

33.6%

35.0%

-1.4%



5,156


4,011

28.5%

27.6%

0.9%

TREMFYA
















US


142


46

*

*

-



453


62

*

*

-

Intl


33


1

*

*

*



91


1

*

*

*

WW


175


47

*

*

*



544


63

*

*

*

OTHER IMMUNOLOGY(5)
















US


-


-

-

-

-



-


-

-

-

-

Intl


3


2

50.0%

53.1%

-3.1%



10


22

-54.5%

-54.0%

-0.5%

WW


3


2

50.0%

53.1%

-3.1%



10


22

-54.5%

-54.0%

-0.5%

INFECTIOUS DISEASES
















US


372


338

10.1%

10.1%

-



1,378


1,358

1.5%

1.5%

-

Intl


430


462

-6.9%

-2.4%

-4.5%



1,926


1,796

7.2%

5.4%

1.8%

WW


802


800

0.3%

2.9%

-2.6%



3,304


3,154

4.8%

3.8%

1.0%

EDURANT / rilpivirine
















US


16


14

14.3%

14.3%

-



58


58

0.0%

0.0%

-

Intl


177


178

-0.6%

3.0%

-3.6%



758


656

15.5%

11.1%

4.4%

WW


193


192

0.5%

3.9%

-3.4%



816


714

14.3%

10.3%

4.0%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
















US


322


285

13.0%

13.0%

-



1,169


1,109

5.4%

5.4%

-

Intl


173


185

-6.5%

-2.3%

-4.2%



786


712

10.4%

9.5%

0.9%

WW


495


470

5.3%

7.0%

-1.7%



1,955


1,821

7.4%

7.0%

0.4%

OTHER INFECTIOUS DISEASES
















US


34


39

-12.8%

-12.8%

-



151


191

-20.9%

-20.9%

-

Intl


80


99

-19.2%

-12.7%

-6.5%



382


428

-10.7%

-10.1%

-0.6%

WW


114


138

-17.4%

-12.8%

-4.6%



533


619

-13.9%

-13.5%

-0.4%

















See footnotes at end of schedule
















 

 



REPORTED SALES vs. PRIOR PERIOD ($MM)




FOURTH QUARTER


TWELVE MONTHS








% Change






% Change





2018


2017

Reported

Operational (1)

Currency



2018


2017

Reported

Operational (1)

Currency



NEUROSCIENCE


















US


660


699

-5.6%

-5.6%

-



2,574


2,630

-2.1%

-2.1%

-



Intl


840


825

1.8%

6.3%

-4.5%



3,503


3,356

4.4%

3.3%

1.1%



WW


1,500


1,524

-1.6%

0.8%

-2.4%



6,077


5,986

1.5%

0.9%

0.6%



CONCERTA / methlyphenidate


















US


38


100

-62.0%

-62.0%

-



229


384

-40.4%

-40.4%

-



Intl


112


103

8.7%

13.2%

-4.5%



434


407

6.6%

6.7%

-0.1%



WW


150


203

-26.1%

-23.8%

-2.3%



663


791

-16.2%

-16.2%

0.0%



INVEGA SUSTENNA / XEPLION / TRINZA / TREVICTA


















US


485


436

11.2%

11.2%

-



1,791


1,590

12.6%

12.6%

-



Intl


278


257

8.2%

12.6%

-4.4%



1,137


979

16.1%

13.7%

2.4%



WW


763


693

10.1%

11.7%

-1.6%



2,928


2,569

14.0%

13.1%

0.9%



RISPERDAL CONSTA


















US


77


87

-11.5%

-11.5%

-



315


360

-12.5%

-12.5%

-



Intl


101


110

-8.2%

-3.6%

-4.6%



422


445

-5.2%

-6.4%

1.2%



WW


178


197

-9.6%

-7.1%

-2.5%



737


805

-8.4%

-9.1%

0.7%



OTHER NEUROSCIENCE


















US


60


76

-21.1%

-21.1%

-



239


296

-19.3%

-19.3%

-



Intl


349


355

-1.7%

2.8%

-4.5%



1,510


1,525

-1.0%

-1.6%

0.6%



WW


409


431

-5.1%

-1.4%

-3.7%



1,749


1,821

-4.0%

-4.5%

0.5%



ONCOLOGY


















US


1,063


891

19.3%

19.3%

-



4,331


3,098

39.8%

39.8%

-



Intl


1,426


1,148

24.2%

29.2%

-5.0%



5,513


4,160

32.5%

30.4%

2.1%



WW


2,489


2,039

22.1%

24.9%

-2.8%



9,844


7,258

35.6%

34.4%

1.2%



DARZALEX


















US


323


241

34.0%

34.0%

-



1,203


884

36.1%

36.1%

-



Intl


261


130

*

*

*



822


358

*

*

*



WW


584


371

57.4%

59.6%

-2.2%



2,025


1,242

63.0%

62.4%

0.6%



IMBRUVICA


















US


318


219

45.2%

45.2%

-



1,129


841

34.2%

34.2%

-



Intl


385


303

27.1%

34.1%

-7.0%



1,486


1,052

41.3%

39.9%

1.4%



WW


703


522

34.7%

38.8%

-4.1%



2,615


1,893

38.1%

37.3%

0.8%



VELCADE


















US


-


-

-

-

-



-


-

-

-

-



Intl


252


271

-7.0%

-3.1%

-3.9%



1,116


1,114

0.2%

-2.0%

2.2%



WW


252


271

-7.0%

-3.1%

-3.9%



1,116


1,114

0.2%

-2.0%

2.2%



ZYTIGA


















US


351


402

-12.7%

-12.7%

-



1,771


1,228

44.2%

44.2%

-



Intl


435


353

23.2%

27.1%

-3.9%



1,727


1,277

35.2%

32.2%

3.0%



WW


786


755

4.1%

5.9%

-1.8%



3,498


2,505

39.6%

38.1%

1.5%



OTHER ONCOLOGY


















US


71


29

*

*

-



228


145

57.2%

57.2%

-



Intl


93


91

2.2%

7.0%

-4.8%



362


359

0.8%

-0.2%

1.0%



WW


164


120

36.7%

40.3%

-3.6%



590


504

17.1%

16.4%

0.7%



PULMONARY HYPERTENSION(4)


















US


436


365

19.5%

19.5%

-



1,651


773

*

*

-



Intl


231


245

-5.7%

-1.7%

-4.0%



922


554

66.4%

64.2%

2.2%



WW


667


610

9.3%

10.9%

-1.6%



2,573


1,327

93.9%

93.0%

0.9%



OPSUMIT


















US


189


146

29.5%

29.5%

-



700


320

*

*

-



Intl


134


123

8.9%

13.8%

-4.9%



515


253

*

*

 * 



WW


323


269

20.1%

22.3%

-2.2%



1,215


573

*

*

 * 



TRACLEER


















US


60


76

-21.1%

-21.1%

-



268


161

66.5%

66.5%

-



Intl


64


91

-29.7%

-27.2%

-2.5%



278


242

14.9%

13.2%

1.7%



WW


124


167

-25.7%

-24.4%

-1.3%



546


403

35.5%

34.5%

1.0%



UPTRAVI


















US


165


117

41.0%

41.0%

-



598


238

*

*

-



Intl


16


13

23.1%

27.3%

-4.2%



65


25

*

*

 * 



WW


181


130

39.2%

39.6%

-0.4%



663


263

*

*

 * 



OTHER


















US


22


26

-15.4%

-15.4%

-



85


54

57.4%

57.4%

-



Intl


17


18

-5.6%

0.7%

-6.3%



64


34

88.2%

89.1%

-0.9%



WW


39


44

-11.4%

-8.9%

-2.5%



149


88

69.3%

69.6%

-0.3%



CARDIOVASCULAR / METABOLISM / OTHER


















US


1,049


1,256

-16.5%

-16.5%

-



4,279


4,744

-9.8%

-9.8%

-



Intl


341


366

-6.8%

-1.5%

-5.3%



1,537


1,543

-0.4%

-1.2%

0.8%



WW


1,390


1,622

-14.3%

-13.1%

-1.2%



5,816


6,287

-7.5%

-7.7%

0.2%



XARELTO


















US


608


710

-14.4%

-14.4%

-



2,477


2,500

-0.9%

-0.9%

-



Intl


-


-

-

-

-



-


-

-

-

-



WW


608


710

-14.4%

-14.4%

-



2,477


2,500

-0.9%

-0.9%

-



INVOKANA / INVOKAMET


















US


188


221

-14.9%

-14.9%

-



711


944

-24.7%

-24.7%

-



Intl


40


46

-13.0%

-7.9%

-5.1%



170


167

1.8%

1.3%

0.5%



WW


228


267

-14.6%

-13.7%

-0.9%



881


1,111

-20.7%

-20.8%

0.1%



PROCRIT / EPREX


















US


151


164

-7.9%

-7.9%

-



674


675

-0.1%

-0.1%

-



Intl


70


68

2.9%

6.7%

-3.8%



314


297

5.7%

3.7%

2.0%



WW


221


232

-4.7%

-3.6%

-1.1%



988


972

1.6%

1.0%

0.6%



OTHER


















US


102


161

-36.6%

-36.6%

-



417


625

-33.3%

-33.3%

-



Intl


231


252

-8.3%

-2.5%

-5.8%



1,053


1,079

-2.4%

-3.0%

0.6%



WW


333


413

-19.4%

-15.9%

-3.5%



1,470


1,704

-13.7%

-14.1%

0.4%



TOTAL PHARMACEUTICAL


















US


5,936


5,776

2.8%

2.8%

-



23,286


21,474

8.4%

8.4%

-



Intl


4,254


3,905

8.9%

13.7%

-4.8%



17,448


14,782

18.0%

16.5%

1.5%



WW


$     10,190


$        9,681

5.3%

7.2%

-1.9%



$         40,734


$        36,256

12.4%

11.8%

0.6%
















See footnotes at end of schedule













 



REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2018


2017

Reported

Operational (1)

Currency



2018


2017

Reported

Operational (1)

Currency

MEDICAL DEVICES SEGMENT (2)(5)
















DIABETES CARE(6)
















US


$               -


$           130

*

*

-



$              371


$             612

-39.4%

-39.4%

-

Intl


-


260

*

*

*



638


1,003

-36.4%

-36.8%

0.4%

WW


-


390

*

*

*



1,009


1,615

-37.5%

-37.7%

0.2%

DIAGNOSTICS
















US


-


-

-

-

-



-


-

-

-

-

Intl


-


-

-

-

-



-


1

*

*

*

WW


-


-

-

-

-



-


1

*

*

*

INTERVENTIONAL SOLUTIONS
















US


336


305

10.2%

10.2%

0.0%



1,283


1,148

11.8%

11.8%

-

Intl


350


316

10.8%

14.2%

-3.4%



1,363


1,148

18.7%

16.5%

2.2%

WW


686


621

10.5%

12.2%

-1.7%



2,646


2,296

15.2%

14.1%

1.1%

ORTHOPAEDICS
















US 


1,358


1,370

-0.9%

-0.9%

-



5,281


5,404

-2.3%

-2.3%

-

Intl


904


916

-1.3%

2.4%

-3.7%



3,604


3,654

-1.4%

-2.9%

1.5%

WW


2,262


2,286

-1.0%

0.5%

-1.5%



8,885


9,058

-1.9%

-2.5%

0.6%

HIPS
















US


220


215

2.3%

2.3%

-



841


827

1.7%

1.7%

-

Intl


145


149

-2.7%

1.4%

-4.1%



577


567

1.8%

0.5%

1.3%

WW


365


364

0.3%

2.0%

-1.7%



1,418


1,394

1.7%

1.2%

0.5%

KNEES
















US


239


246

-2.8%

-2.8%

-



911


948

-3.9%

-3.9%

-

Intl


153


151

1.3%

5.2%

-3.9%



591


575

2.8%

1.5%

1.3%

WW


392


397

-1.3%

0.2%

-1.5%



1,502


1,523

-1.4%

-1.9%

0.5%

TRAUMA
















US


403


397

1.5%

1.5%

-



1,599


1,576

1.5%

1.5%

-

Intl


271


272

-0.4%

3.4%

-3.8%



1,100


1,040

5.8%

4.2%

1.6%

WW


674


669

0.7%

2.2%

-1.5%



2,699


2,616

3.2%

2.5%

0.7%

SPINE & OTHER
















US


496


512

-3.1%

-3.1%

-



1,930


2,053

-6.0%

-6.0%

-

Intl


335


344

-2.6%

0.9%

-3.5%



1,336


1,472

-9.2%

-10.7%

1.5%

WW


831


856

-2.9%

-1.5%

-1.4%



3,266


3,525

-7.3%

-7.9%

0.6%

SURGERY
















US


1,094


1,076

1.7%

1.7%

-



4,125


4,085

1.0%

1.0%

-

Intl


1,493


1,482

0.7%

5.4%

-4.7%



5,776


5,474

5.5%

5.1%

0.4%

WW


2,587


2,558

1.1%

3.8%

-2.7%



9,901


9,559

3.6%

3.4%

0.2%

ADVANCED
















US


441


430

2.6%

2.6%

-



1,657


1,620

2.3%

2.3%

-

Intl


614


593

3.5%

8.0%

-4.5%



2,345


2,136

9.8%

9.1%

0.7%

WW


1,055


1,023

3.1%

5.7%

-2.6%



4,002


3,756

6.5%

6.1%

0.4%

GENERAL
















US


469


452

3.8%

3.8%

-



1,751


1,728

1.3%

1.3%

-

Intl


712


718

-0.8%

3.9%

-4.7%



2,806


2,735

2.6%

2.2%

0.4%

WW


1,181


1,170

0.9%

3.8%

-2.9%



4,557


4,463

2.1%

1.8%

0.3%

SPECIALTY
















US


184


194

-5.2%

-5.2%

-



717


737

-2.7%

-2.7%

-

Intl


167


171

-2.3%

2.7%

-5.0%



625


603

3.6%

4.2%

-0.6%

WW


351


365

-3.8%

-1.4%

-2.4%



1,342


1,340

0.1%

0.4%

-0.3%

VISION
















US


426


433

-1.6%

-1.6%

-



1,777


1,575

12.8%

12.8%

-

Intl


707


686

3.1%

6.8%

-3.7%



2,776


2,488

11.6%

11.0%

0.6%

WW


1,133


1,119

1.3%

3.6%

-2.3%



4,553


4,063

12.1%

11.8%

0.3%

CONTACT LENSES / OTHER
















US


289


290

-0.3%

-0.3%

-



1,237


1,122

10.2%

10.2%

-

Intl


527


510

3.3%

7.2%

-3.9%



2,065


1,914

7.9%

7.4%

0.5%

WW


816


800

2.0%

4.5%

-2.5%



3,302


3,036

8.8%

8.5%

0.3%

SURGICAL
















US


137


143

-4.2%

-4.2%

-



540


453

19.2%

19.2%

-

Intl


180


176

2.3%

5.3%

-3.0%



711


574

23.9%

23.1%

0.8%

WW


317


319

-0.6%

1.1%

-1.7%



1,251


1,027

21.8%

21.4%

0.4%

















TOTAL MEDICAL DEVICES
















US


3,214


3,314

-3.0%

-3.0%

-



12,837


12,824

0.1%

0.1%

-

Intl


3,454


3,660

-5.6%

-1.4%

-4.2%



14,157


13,768

2.8%

1.9%

0.9%

WW


$       6,668


6,974

-4.4%

-2.2%

-2.2%



$         26,994


$        26,592

1.5%

1.1%

0.4%

































* Percentage greater than 100% or not meaningful

(1) Operational growth excludes the effect of translational currency

(2) Unaudited

(3) Reported as U.S. sales

(4) Products acquired from Actelion acquisition on June 16, 2017

(5) Prior year amounts have been reclassified to conform to current year product disclosure 

(6) Reflects LifeScan divestiture October 2, 2018

 

 

Pharmaceutical Supplemental Schedule 













Prior quarter amounts have been reclassified to
conform to current quarter product disclosure ($MM)


























2017


2018















Full Year




Q1


Q2


Q3


Q4

PHARMACEUTICAL SEGMENT(1)













TREMFYA













US


62




66


102


143


142

Intl


1




6


24


28


33

WW


63




72


126


171


175














OTHER IMMUNOLOGY(2)













US


-




-


-


-


-

Intl


22




2


3


2


3

WW


22




2


3


2


3














(1) Unaudited

(2) Prior year amounts have been reclassified to conform to current year product disclosure 

 

(PRNewsfoto/Johnson & Johnson)

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2018-fourth-quarter-results-300781914.html

SOURCE Johnson & Johnson