JNJ
$150.13
Johnson & Johnson
$.04
.03%
Earnings Details
4th Quarter December 2019
Wednesday, January 22, 2020 6:30:00 AM
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Summary

Johnson & Johnson Misses

Johnson & Johnson (JNJ) reported 4th Quarter December 2019 earnings of $1.88 per share on revenue of $20.7 billion. The consensus earnings estimate was $1.86 per share on revenue of $20.8 billion. The Earnings Whisper number was $1.92 per share. Revenue grew 1.7% on a year-over-year basis.

The company said it expects 2020 earnings of $9.00 to $9.15 per share on revenue of $85.8 billion to $86.6 billion. The current consensus earnings estimate is $9.08 per share on revenue of $85.5 billion for the year ending December 31, 2020.

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
$1.88
Earnings Whisper
$1.92
Consensus Estimate
$1.86
Reported Revenue
$20.75 Bil
Revenue Estimate
$20.78 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Johnson & Johnson Reports 2019 Fourth-Quarter And Full Year Results:

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

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

OVERALL FINANCIAL RESULTS:


FOURTH QUARTER



TWELVE MONTHS


($ in Millions, except EPS)

2019

2018

%  Change


2019

2018

%  Change

Reported Sales

$       20,747

$       20,394

1.7%


$       82,059

$       81,581

0.6%

Net Earnings

4,010

3,042

31.8%


15,119

15,297

(1.2)%

EPS (diluted)

$           1.50

$           1.12

33.9%


$           5.63

$           5.61

0.4%









Non-GAAP*

FOURTH QUARTER



TWELVE MONTHS


($ in Millions, except EPS)

2019

2018

%  Change


2019

2018

%  Change

Operational Sales1,2

n/a

n/a

2.6%


n/a

n/a

2.8%

Adjusted Operational Sales1,3

n/a

n/a

3.4%


n/a

n/a

4.5%

Adjusted Net Earnings1,4

5,027

5,372

(6.4)%


23,310

22,315

4.5%

Adjusted EPS (diluted)1,4

$           1.88

$           1.97

(4.6)%


$           8.68

$           8.18

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 Excludes intangible amortization expense and special items

 

REGIONAL SALES RESULTS: 


FOURTH QUARTER

%  Change

($ in Millions)

2019

2018

Reported

Operational1,2

Currency

Adjusted
Operational1,3

U.S.

$       10,774

$       10,629

1.4%

1.4

-

2.7

International

9,973

9,765

2.1%

4.0

(1.9)

4.1

Worldwide

$       20,747

$       20,394

1.7%

2.6

(0.9)

3.4























TWELVE MONTHS

%  Change

($ in Millions)

2019

2018


Reported


Operational1,2

Currency

Adjusted
Operational1,3

U.S.

$       42,097

$       41,884

0.5%

0.5

-

2.3

International

39,962

39,697

0.7%

5.3

(4.6)

6.7

Worldwide

$       82,059

$       81,581

0.6%

2.8

(2.2)

4.5


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:


FOURTH QUARTER

%  Change

($ in Millions)

2019

2018

Reported


Operational1,2

Currency

Adjusted 
Operational1,3

Consumer

$         3,567

$         3,536

0.9%

2.1

(1.2)

1.4

Pharmaceutical

10,548

10,190

3.5%

4.4

(0.9)

4.5

Medical Devices

6,632

6,668

(0.5)%

0.2

(0.7)

2.7

Worldwide

$       20,747

$       20,394

1.7%

2.6

(0.9)

3.4
















TWELVE MONTHS

%  Change


($ in Millions)

2019

2018

Reported

Operational1,2

Currency

Adjusted
Operational1,3

Consumer

$       13,898

$       13,853

0.3%

3.0

(2.7)

1.4

Pharmaceutical

42,198

40,734

3.6%

5.8

(2.2)

5.8

Medical Devices

25,963

26,994

(3.8)%

(1.7)

(2.1)

3.9

Worldwide

$       82,059

$       81,581

0.6%

2.8

(2.2)

4.5

1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

Note: values may have been rounded

FULL-YEAR 2019 SEGMENT COMMENTARY:

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

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

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

NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the company's website at news releases.

Regulatory Approvals

DARZALEX (daratumumab) - European Commission Approves Combination with Bortezomib, Thalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Eligible1

(press release)

SPRAVATO (esketamine) Nasal Spray - Approved in Europe for Adults with Treatment-Resistant Major Depressive Disorder

(press release)

DARZALEX (daratumumab) - European Commission Approves Combination with Lenalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Ineligible

(press release)

STELARA (ustekinumab) - U.S. FDA Approval for the Treatment of Adults with Moderately to Severely Active Ulcerative Colitis

(press release)

Regulatory Submissions

SPRAVATO (esketamine) - Submission of a Type II Variation Application to the European Medicines Agency (EMA) Seeking Expanded Use as a Treatment for Depressive Symptoms in Adults with Major Depressive Disorder Who Have Current Suicidal Ideation with Intent1

(press release)

IMBRUVICA (ibrutinib) - Supplemental NDA Submitted to U.S. FDA and Type II Variation Submitted to EMA1 Seeking Approval of Combination with Rituximab for Previously Untreated Patients with CLL

(press release)

(press release)

Ebola Vaccine Regimen - Submission of MAA to EMA for Prevention of Ebola Virus Disease (EVD) caused by Zaire Ebolavirus Species.

(press release)

TREMFYA (guselkumab) - Submission of a Type II Variation Application to the EMA Seeking to Expand Use in the Treatment of Adults with Active Psoriatic Arthritis

(press release)

Other

Completion of Acquisition of Bermekimab, an investigational compound for multiple dermatological indications, from XBiotech Inc. 1

(press release)

Rilpivirine and Cabotegravir - U.S. FDA issues Complete Response Letter Issued for Investigational Two-Drug Long-Acting HIV Regimen

(press release)

Completion of Acquisition of TARIS Biomedical with Focus on Transforming the Treatment of Bladder Cancer

(press release)

Agreement Announced to Acquire Remaining Stake in Verb Surgical Inc.

(press release)

BCMA CAR-T Therapy Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of Relapsed or Refractory Multiple Myeloma

(press release)

J&J Vision Introduces TECNIS Toric II 1-Piece IOL as New Monofocal Option for Cataract Patients with Astigmatism

(press release)

Ethicon Launches VISTASEAL Fibrin Sealant (Human) To Manage Bleeding During Surgery

(press release)

New Cervical Spine System from DePuy Synthes Advances Treatment Options for Patients with Complex Cervical Spine Disorders

(press release)

1 Subsequent to the quarter

 

FULL-YEAR 2020 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.


January 2020

($ in Billions, except EPS)


Adjusted Operational Sales1,2

Change vs. Prior Year

5.0% - 6.0%

Operational Sales2

Change vs. Prior Year

$85.8 to $86.6

4.5% - 5.5%

Estimated Reported Sales3

Change vs. Prior Year

$85.4 to $86.2

4.0% - 5.0%



Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

$9.00 to $9.15

3.7% - 5.4%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$8.95 to $9.10

3.1% - 4.8%

1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures

2 Non-GAAP financial measure; excludes the impact of translational currency

3 Calculated using Euro Average Rate: January 2020 = $1.11 (Illustrative purposes only)

Non-GAAP financial measure; excludes intangible amortization expense and special items

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:00 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations

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

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

Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2018, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the company's most recently filed Quarterly Report on Form 10-Q and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

Johnson & Johnson and Subsidiaries




















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

FOURTH QUARTER


TWELVE MONTHS






Percent Change






Percent Change


2019


2018


Total


Operations


Currency


2019


2018


Total


Operations


Currency

Sales to customers by




















segment of business








































Consumer




















    U.S.

$      1,470


1,479


(0.6)

%

(0.6)


-


$      5,839


5,761


1.4

%

1.4


-

    International

2,097


2,057


2.0


4.0


(2.0)


8,059


8,092


(0.4)


4.2


(4.6)


3,567


3,536


0.9


2.1


(1.2)


13,898


13,853


0.3


3.0


(2.7)





















Pharmaceutical




















    U.S.

6,169


5,936


3.9


3.9


-


23,874


23,286


2.5


2.5


-

    International

4,379


4,254


2.9


5.1


(2.2)


18,324


17,448


5.0


10.1


(5.1)


10,548


10,190


3.5


4.4


(0.9)


42,198


40,734


3.6


5.8


(2.2)





















Medical Devices




















    U.S.

3,135


3,214


(2.4)


(2.4)


-


12,384


12,837


(3.5)


(3.5)


-

    International

3,497


3,454


1.3


2.7


(1.4)


13,579


14,157


(4.1)


(0.1)


(4.0)


6,632


6,668


(0.5)


0.2


(0.7)


25,963


26,994


(3.8)


(1.7)


(2.1)





















U.S.

10,774


10,629


1.4


1.4


-


42,097


41,884


0.5


0.5


-

International

9,973


9,765


2.1


4.0


(1.9)


39,962


39,697


0.7


5.3


(4.6)

Worldwide

$    20,747


20,394


1.7

%

2.6


(0.9)


$    82,059


81,581


0.6

%

2.8


(2.2)





















Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.











 

Johnson & Johnson and Subsidiaries




















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

FOURTH QUARTER


TWELVE MONTHS






Percent Change






Percent Change


2019


2018


Total


Operations


Currency


2019


2018


Total


Operations


Currency

Sales to customers by




















geographic area








































U.S.

$  10,774


10,629


1.4

%

1.4


-


$  42,097


41,884


0.5

%

0.5


-





















Europe

4,663


4,730


(1.4)


1.0


(2.4)


18,466


18,753


(1.5)


3.8


(5.3)

Western Hemisphere excluding U.S.

1,495


1,456


2.6


9.3


(6.7)


5,941


6,113


(2.8)


5.7


(8.5)

Asia-Pacific, Africa

3,815


3,579


6.6


5.8


0.8


15,555


14,831


4.9


6.9


(2.0)

International

9,973


9,765


2.1


4.0


(1.9)


39,962


39,697


0.7


5.3


(4.6)





















Worldwide

$  20,747


20,394


1.7

%

2.6


(0.9)


$  82,059


81,581


0.6

%

2.8


(2.2)





















Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.











 

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

FOURTH QUARTER












2019


2018


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$ 20,747


100.0


$ 20,394


100.0


1.7

Cost of products sold

7,134


34.4


6,961


34.1


2.5

Gross Profit

13,613


65.6


13,433


65.9


1.3

Selling, marketing and administrative expenses

6,039


29.1


5,991


29.4


0.8

Research and development expense

3,232


15.6


3,224


15.8


0.2

Interest (income) expense, net

4


0.0


54


0.3



Other (income) expense, net

16


0.1


978


4.8



Restructuring

104


0.5


64


0.3



Earnings before provision for taxes on income

4,218


20.3


3,122


15.3


35.1

Provision for taxes on income

208


1.0


80


0.4


160.0

Net earnings

$   4,010


19.3


$   3,042


14.9


31.8











Net earnings per share (Diluted)

$     1.50




$     1.12




33.9











Average shares outstanding (Diluted)

2,669.1




2,724.0















Effective tax rate

4.9

%



2.6

%














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










Earnings before provision for taxes on income

$   5,628


27.1


$   6,046


29.6


(6.9)

Net earnings

$   5,027


24.2


$   5,372


26.3


(6.4)

Net earnings per share (Diluted)

$     1.88




$     1.97




(4.6)

Effective tax rate

10.7

%



11.1

%














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










 

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings




















(Unaudited; in Millions Except Per Share Figures)

TWELVE MONTHS












2019


2018


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$ 82,059


100.0


$ 81,581


100.0


0.6

Cost of products sold

27,556


33.6


27,091


33.2


1.7

Gross Profit

54,503


66.4


54,490


66.8


0.0

Selling, marketing and administrative expenses

22,178


27.0


22,540


27.6


(1.6)

Research and development expense

11,355


13.8


10,775


13.2


5.4

In-process research and development

890


1.1


1,126


1.4



Interest (income) expense, net

(39)


0.0


394


0.5



Other (income) expense, net

2,525


3.1


1,405


1.7



Restructuring

266


0.3


251


0.3



Earnings before provision for taxes on income

17,328


21.1


17,999


22.1


(3.7)

Provision for taxes on income

2,209


2.7


2,702


3.3


(18.2)

Net earnings

$ 15,119


18.4


$ 15,297


18.8


(1.2)











Net earnings per share (Diluted)

$     5.63




$     5.61




0.4











Average shares outstanding (Diluted)

2,684.3




2,728.7















Effective tax rate

12.7

%



15.0

%














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










Earnings before provision for taxes on income

$ 28,225


34.4


$ 26,698


32.7


5.7

Net earnings

$ 23,310


28.4


$ 22,315


27.4


4.5

Net earnings per share (Diluted)

$     8.68




$     8.18




6.1

Effective tax rate

17.4

%



16.4

%














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










 

 

Johnson & Johnson and Subsidiaries















Reconciliation of Non-GAAP Financial Measures

















Fourth Quarter


% Incr. /



Twelve Months


% Incr. /


(Dollars in Millions Except Per Share Data)


2019


2018


(Decr.)



2019


2018


(Decr.)

















Earnings before provision for taxes on income - as reported


$        4,218


3,122


35.1

%


$    17,328


17,999


(3.7)

%

Litigation expense, net


264


1,288





5,096


1,991




Intangible asset amortization expense


1,142


1,073





4,528


4,357




In-process research and development


-


-





890


1,126




Restructuring/Other (1)


251


227





611


700




Actelion acquisition related cost


62


43





185


243




Auris Health acquisition related cost


16


-





72


-




AMO acquisition related cost


12


27





62


109




Unrealized loss/(gain) on securities


(350)


182





(567)


179




Contingent liability reversal


-


-





-


(184)




Tax legislation and related impacts


-


72





-


72




Other


13


12





20


106



















Earnings before provision for taxes on income - as adjusted


$        5,628


6,046


(6.9)

%


$    28,225


26,698


5.7

%
















Net Earnings - as reported


$        4,010


3,042


31.8

%


$    15,119


15,297


(1.2)

%

Litigation expense, net


251


1,113





4,015


1,722




Intangible asset amortization expense


1,008


957





3,844


3,888




In-process research and development


-


-





703


859




Restructuring/Other


214


190





511


585




Actelion acquisition related cost


58


39





172


232




Auris Health acquisition related cost


12


-





56


-




AMO acquisition related cost


12


21





52


89




Unrealized loss/(gain) on securities


(277)


143





(448)


141




Contingent liability reversal


-


-





-


(184)




Tax legislation and related impacts (2)


(184)


(137)





(575)


(390)




Other


(77)


4





(139)


76



















Net Earnings - as adjusted


$        5,027


5,372


(6.4)

%


$    23,310


22,315


4.5

%
















Diluted Net Earnings per share - as reported


$          1.50


1.12


33.9

%


$        5.63


5.61


0.4

%
















Litigation expense, net


0.10


0.41





1.50


0.63




Intangible asset amortization expense


0.38


0.35





1.43


1.42




In-process research and development


-


-





0.26


0.32




Restructuring/Other


0.08


0.07





0.19


0.21




Actelion acquisition related cost


0.02


0.01





0.06


0.09




Auris Health acquisition related cost


-


-





0.02


-




AMO acquisition related cost


-


0.01





0.02


0.03




Unrealized loss/(gain) on securities


(0.10)


0.05





(0.17)


0.05




Contingent liability reversal


-


-





-


(0.07)




Tax legislation and related impacts


(0.07)


(0.05)





(0.21)


(0.14)




Other


(0.03)


-





(0.05)


0.03



















Diluted Net Earnings per share - as adjusted


$          1.88


1.97


(4.6)

%


$        8.68


8.18


6.1

%
















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




2.02







8.06



















Impact of currency at 2018 foreign currency exchange rates


0.03


(0.05)





0.22


0.12



















Operational Diluted Net Earnings per share - as adjusted at 2018 foreign currency exchange rates


$          1.91


1.97


(3.0)

%


$        8.90


8.18


8.8

%































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




     and $131M recorded in other (income) expense for the fourth quarter 2018.














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



     and $344M recorded in other (income) expense for twelve months YTD 2018.





























(2) Includes foreign currency translation















 

 

 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Adjusted Operational Sales Growth

 FOURTH QUARTER 2019 ACTUAL vs. 2018 ACTUAL 



















 Segments 






 Consumer 


 Pharmaceutical 


 Medical Devices 


 Total 

 WW As Reported 


0.9%


3.5%


(0.5)%


1.7%

 U.S. 


(0.6)%


3.9%


(2.4)%


1.4%

 International 


2.0%


2.9%


1.3%


2.1%










 WW Currency 


(1.2)


(0.9)


(0.7)


(0.9)

 U.S. 


-


-


-


-

 International 


(2.0)


(2.2)


(1.4)


(1.9)










 WW Operational 


2.1%


4.4%


0.2%


2.6%

 U.S. 


(0.6)%


3.9%


(2.4)%


1.4%

 International 


4.0%


5.1%


2.7%


4.0%










Beauty









RoC


0.6






0.1

 U.S. 


1.4






0.2

 International 


0.0






0.0










Beauty









Dr. Ci Labo - Japan


(1.7)






(0.3)

 U.S. 


0.0






0.0

 International 


(2.9)






(0.6)










Specialty Surgery









Advanced Sterilization Products






2.4


0.8

 U.S. 






3.0


0.9

 International 






2.0


0.7










Baby Care









Baby Center


0.3






0.1

 U.S. 


0.8






0.1

 International 


0.0






0.0










All Other Acquisitions and Divestitures


0.0


0.1


0.1


0.1

 U.S. 


0.0


0.1


0.0


0.1

 International 


0.1


0.0


0.1


0.1










WW Adjusted Operational


1.4%


4.5%


2.7%


3.4%

 U.S. 


1.6%


4.1%


0.6%


2.7%

 International 


1.3%


5.1%


4.7%


4.1%










Note:Percentages are based on actual, non-rounded figures and may not sum



 

 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Adjusted Operational Sales Growth

 TWELVE MONTHS 2019 ACTUAL vs. 2018 ACTUAL 











 Segments 












 Consumer 


 Pharmaceutical 


 Medical Devices


 Total 

 WW As Reported 


0.3%


3.6%


(3.8)%


0.6%

 U.S. 


1.4%


2.5%


(3.5)%


0.5%

 International 


(0.4)%


5.0%


(4.1)%


0.7%










 WW Currency 


(2.7)


(2.2)


(2.1)


(2.2)

 U.S. 


-


-


-


-

 International 


(4.6)


(5.1)


(4.0)


(4.6)










 WW Operational 


3.0%


5.8%


(1.7)%


2.8%

 U.S. 


1.4%


2.5%


(3.5)%


0.5%

 International 


4.2%


10.1%


(0.1)%


5.3%










Beauty









Nizoral


0.2






0.0

 U.S. 


0.1






0.0

 International 


0.3






0.1










OTC









Zarbees


(0.4)






(0.1)

 U.S. 


(1.1)






(0.1)

 International 


0.0






0.0










Diabetes Care









LifeScan






3.8


1.3

 U.S. 






2.9


0.9

 International 






4.6


1.7










Beauty









RoC


0.7






0.1

 U.S. 


1.3






0.2

 International 


0.2






0.0










Beauty









Dr. Ci Labo - Japan


(2.3)






(0.4)

 U.S. 


0.0






0.0

 International 


(3.9)






(0.8)










Specialty Surgery









Advanced Sterilization Products






1.6


0.6

 U.S. 






2.2


0.7

 International 






1.0


0.4










Baby Care









Baby Center


0.1






0.0

 U.S. 


0.3






0.0

 International 


0.0






0.0










All Other Acquisitions and Divestitures


0.1


0.0


0.1


0.1

 U.S. 


0.0


0.1


0.1


0.1

 International 


0.1


0.0


0.1


0.1










WW Adjusted Operational


1.4%


5.8%


3.9%


4.5%

 U.S. 


2.1%


2.7%


1.8%


2.3%

 International 


1.0%


10.1%


5.7%


6.7%










Note:Percentages are based on actual, non-rounded figures and may not sum



 

 


REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2019


2018

Reported

Operational (1)

Currency



2019


2018

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)
















BABY CARE
















US


$            85


116

-26.7%

-26.7%

-



$          362


422

-14.2%

-14.2%

-

Intl


336


357

-5.9%

-3.7%

-2.2%



1,313


1,436

-8.6%

-3.7%

-4.9%

WW


421


473

-11.0%

-9.3%

-1.7%



1,675


1,858

-9.9%

-6.1%

-3.8%

BEAUTY
















US


582


612

-4.9%

-4.9%

-



2,392


2,403

-0.4%

-0.4%

-

Intl


568


499

13.8%

15.6%

-1.8%



2,201


1,979

11.2%

15.3%

-4.1%

WW


1,150


1,111

3.5%

4.3%

-0.8%



4,593


4,382

4.8%

6.7%

-1.9%

ORAL CARE
















US


159


165

-3.6%

-3.6%

-



621


637

-2.5%

-2.5%

-

Intl


233


234

0.2%

2.2%

-2.0%



906


918

-1.2%

3.3%

-4.5%

WW


393


399

-1.4%

-0.2%

-1.2%



1,528


1,555

-1.7%

0.9%

-2.6%

OTC
















US


542


491

10.3%

10.3%

-



2,010


1,850

8.6%

8.6%

-

Intl


653


657

-0.6%

0.8%

-1.4%



2,434


2,484

-2.0%

2.2%

-4.2%

WW


1,195


1,148

4.1%

4.9%

-0.8%



4,444


4,334

2.5%

4.9%

-2.4%

WOMEN'S HEALTH
















US


3


3

-11.8%

-11.8%

-



12


13

-5.5%

-5.5%

-

Intl


250


254

-1.5%

3.1%

-4.6%



974


1,036

-6.0%

1.1%

-7.1%

WW


253


257

-1.6%

2.9%

-4.5%



986


1,049

-6.0%

1.0%

-7.0%

WOUND CARE / OTHER
















US


98


92

7.5%

7.5%

-



441


436

1.2%

1.2%

-

Intl


57


56

-0.4%

0.6%

-1.0%



230


239

-3.9%

-0.7%

-3.2%

WW


155


148

4.5%

4.8%

-0.3%



671


675

-0.6%

0.5%

-1.1%

















TOTAL CONSUMER
















US


1,470


1,479

-0.6%

-0.6%

-



5,839


5,761

1.4%

1.4%

-

Intl


2,097


2,057

2.0%

4.0%

-2.0%



8,059


8,092

-0.4%

4.2%

-4.6%

WW


$       3,567


3,536

0.9%

2.1%

-1.2%



$     13,898


13,853

0.3%

3.0%

-2.7%

































See footnotes at end of schedule
















 


REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2019


2018

Reported

Operational (1)

Currency



2019


2018

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2)
















IMMUNOLOGY
















US


$       2,517


2,356

6.8%

6.8%

-



$       9,641


9,073

6.3%

6.3%

-

Intl


1,005


986

1.9%

4.3%

-2.4%



4,309


4,047

6.5%

11.6%

-5.1%

WW


3,522


3,342

5.4%

6.1%

-0.7%



13,950


13,120

6.3%

7.9%

-1.6%

REMICADE
















US


755


843

-10.4%

-10.4%

-



3,079


3,664

-16.0%

-16.0%

-

US Exports (3)


68


90

-25.0%

-25.0%

-



294


436

-32.7%

-32.7%

-

Intl


212


305

-30.4%

-28.9%

-1.5%



1,007


1,226

-17.8%

-13.7%

-4.1%

WW


1,035


1,238

-16.4%

-16.0%

-0.4%



4,380


5,326

-17.8%

-16.8%

-1.0%

SIMPONI / SIMPONI ARIA
















US


302


272

10.7%

10.7%

-



1,159


1,051

10.2%

10.2%

-

Intl


213


210

1.4%

3.7%

-2.3%



1,029


1,033

-0.4%

4.4%

-4.8%

WW


515


482

6.6%

7.6%

-1.0%



2,188


2,084

5.0%

7.3%

-2.3%

STELARA
















US


1,194


1,009

18.4%

18.4%

-



4,346


3,469

25.3%

25.3%

-

Intl


506


435

16.3%

19.1%

-2.8%



2,015


1,687

19.4%

25.1%

-5.7%

WW


1,700


1,444

17.7%

18.6%

-0.9%



6,361


5,156

23.4%

25.2%

-1.8%

TREMFYA
















US


199


142

39.7%

39.7%

-



764


453

68.5%

68.5%

-

Intl


71


33

*

*

*



248


91

*

*

*

WW


270


175

53.9%

55.1%

-1.2%



1,012


544

85.9%

87.7%

-1.8%

OTHER IMMUNOLOGY
















US


-


-

-

-

-



-


-

-

-

-

Intl


2


3

-22.4%

-24.0%

1.6%



10


10

4.5%

4.7%

-0.2%

WW


2


3

-22.4%

-24.0%

1.6%



10


10

4.5%

4.7%

-0.2%

INFECTIOUS DISEASES
















US


435


372

17.1%

17.1%

-



1,597


1,378

15.9%

15.9%

-

Intl


430


430

0.2%

3.0%

-2.8%



1,815


1,926

-5.7%

-0.2%

-5.5%

WW


866


802

8.0%

9.6%

-1.6%



3,413


3,304

3.3%

6.5%

-3.2%

EDURANT / rilpivirine
















US


14


16

-12.3%

-12.3%

-



50


58

-13.7%

-13.7%

-

Intl


209


177

17.7%

20.9%

-3.2%



812


758

7.1%

12.7%

-5.6%

WW


222


193

15.2%

18.2%

-3.0%



861


816

5.6%

10.8%

-5.2%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
















US


390


322

21.0%

21.0%

-



1,422


1,169

21.6%

21.6%

-

Intl


155


173

-10.7%

-7.8%

-2.9%



689


786

-12.3%

-6.8%

-5.5%

WW


544


495

9.9%

10.9%

-1.0%



2,110


1,955

8.0%

10.2%

-2.2%

OTHER INFECTIOUS DISEASES
















US


32


34

-5.8%

-5.8%

-



126


151

-16.5%

-16.5%

-

Intl


67


80

-15.4%

-13.3%

-2.1%



315


382

-17.6%

-12.3%

-5.3%

WW


99


114

-12.5%

-11.0%

-1.5%



441


533

-17.3%

-13.5%

-3.8%

















See footnotes at end of schedule
















 


REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2019


2018

Reported

Operational (1)

Currency



2019


2018

Reported

Operational (1)

Currency

NEUROSCIENCE
















US


747


660

13.2%

13.2%

-



2,919


2,574

13.4%

13.4%

-

Intl


819


840

-2.5%

-1.2%

-1.3%



3,409


3,503

-2.7%

1.5%

-4.2%

WW


1,566


1,500

4.4%

5.2%

-0.8%



6,328


6,077

4.1%

6.6%

-2.5%

CONCERTA / methlyphenidate
















US


37


38

-4.4%

-4.4%

-



233


229

1.7%

1.7%

-

Intl


115


112

2.4%

3.0%

-0.6%



463


434

6.6%

10.3%

-3.7%

WW


152


150

0.7%

1.1%

-0.4%



696


663

4.9%

7.3%

-2.4%

INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA
















US


564


485

16.2%

16.2%

-



2,107


1,791

17.6%

17.6%

-

Intl


308


278

10.7%

13.2%

-2.5%



1,224


1,137

7.7%

13.0%

-5.3%

WW


871


763

14.2%

15.1%

-0.9%



3,330


2,928

13.7%

15.8%

-2.1%

RISPERDAL CONSTA
















US


77


77

0.3%

0.3%

-



314


315

-0.3%

-0.3%

-

Intl


82


101

-18.9%

-17.0%

-1.9%



374


422

-11.4%

-6.5%

-4.9%

WW


160


178

-10.6%

-9.5%

-1.1%



688


737

-6.7%

-3.9%

-2.8%

OTHER NEUROSCIENCE
















US


70


60

16.7%

16.7%

-



266


239

11.4%

11.4%

-

Intl


314


349

-9.9%

-9.3%

-0.6%



1,349


1,510

-10.7%

-7.4%

-3.3%

WW


383


409

-6.1%

-5.5%

-0.6%



1,614


1,749

-7.7%

-4.9%

-2.8%

ONCOLOGY
















US


1,153


1,063

8.5%

8.5%

-



4,299


4,331

-0.7%

-0.7%

-

Intl


1,563


1,426

9.6%

12.2%

-2.6%



6,393


5,513

16.0%

21.8%

-5.8%

WW


2,716


2,489

9.1%

10.6%

-1.5%



10,692


9,844

8.6%

11.9%

-3.3%

DARZALEX
















US


444


323

37.8%

37.8%

-



1,567


1,203

30.3%

30.3%

-

Intl


385


261

47.5%

52.8%

-5.3%



1,430


822

73.9%

84.1%

-10.2%

WW


830


584

42.1%

44.5%

-2.4%



2,998


2,025

48.0%

52.2%

-4.2%

IMBRUVICA
















US


392


318

22.8%

22.8%

-



1,555


1,129

37.7%

37.7%

-

Intl


483


385

25.9%

29.7%

-3.8%



1,856


1,486

24.9%

32.1%

-7.2%

WW


875


703

24.5%

26.6%

-2.1%



3,411


2,615

30.4%

34.5%

-4.1%

VELCADE
















US


-


-

-

-

-



-


-

-

-

-

Intl


115


252

-54.6%

-55.2%

0.6%



751


1,116

-32.7%

-30.1%

-2.6%

WW


115


252

-54.6%

-55.2%

0.6%



751


1,116

-32.7%

-30.1%

-2.6%

ZYTIGA / abiraterone acetate
















US


194


351

-44.8%

-44.8%

-



810


1,771

-54.3%

-54.3%

-

Intl


483


435

11.2%

12.9%

-1.7%



1,985


1,727

15.0%

19.8%

-4.8%

WW


677


786

-13.8%

-12.9%

-0.9%



2,795


3,498

-20.1%

-17.7%

-2.4%

OTHER ONCOLOGY
















US


122


71

75.1%

75.1%

-



367


228

61.0%

61.0%

-

Intl


97


93

3.0%

5.9%

-2.9%



371


362

2.4%

8.1%

-5.7%

WW


220


164

33.7%

35.4%

-1.7%



739


590

25.0%

28.6%

-3.6%

PULMONARY HYPERTENSION
















US


388


436

-11.1%

-11.1%

-



1,684


1,651

2.0%

2.0%

-

Intl


235


231

1.6%

3.1%

-1.5%



939


922

1.9%

6.3%

-4.4%

WW


623


667

-6.7%

-6.2%

-0.5%



2,623


2,573

1.9%

3.5%

-1.6%

OPSUMIT
















US


185


189

-2.4%

-2.4%

-



766


700

9.4%

9.4%

-

Intl


143


134

5.8%

7.5%

-1.7%



562


515

9.0%

14.1%

-5.1%

WW


326


323

1.0%

1.7%

-0.7%



1,327


1,215

9.2%

11.4%

-2.2%

TRACLEER / bosentan
















US


10


60

-83.3%

-83.3%

-



131


268

-51.1%

-51.1%

-

Intl


46


64

-27.6%

-28.8%

1.2%



210


278

-24.3%

-22.6%

-1.7%

WW


56


124

-54.8%

-55.4%

0.6%



341


546

-37.5%

-36.6%

-0.9%

UPTRAVI
















US


178


165

7.4%

7.4%

-



714


598

19.3%

19.3%

-

Intl


30


16

92.5%

99.5%

-7.0%



105


65

62.4%

70.7%

-8.3%

WW


208


181

14.8%

15.4%

-0.6%



819


663

23.5%

24.3%

-0.8%

OTHER
















US


16


22

-27.7%

-27.7%

-



74


85

-13.7%

-13.7%

-

Intl


16


17

-5.9%

-2.4%

-3.5%



62


64

-3.7%

3.3%

-7.0%

WW


32


39

-18.1%

-16.5%

-1.6%



135


149

-9.4%

-6.4%

-3.0%

CARDIOVASCULAR / METABOLISM / OTHER
















US


930


1,049

-11.4%

-11.4%

-



3,734


4,279

-12.7%

-12.7%

-

Intl


327


341

-4.4%

-3.5%

-0.9%



1,458


1,537

-5.2%

-1.3%

-3.9%

WW


1,256


1,390

-9.7%

-9.5%

-0.2%



5,192


5,816

-10.7%

-9.7%

-1.0%

XARELTO
















US


609


608

0.4%

0.4%

-



2,313


2,477

-6.6%

-6.6%

-

Intl


-


-

-

-

-



-


-

-

-

-

WW


609


608

0.4%

0.4%

-



2,313


2,477

-6.6%

-6.6%

-

INVOKANA / INVOKAMET
















US


125


188

-33.8%

-33.8%

-



536


711

-24.6%

-24.6%

-

Intl


52


40

33.7%

36.0%

-2.3%



199


170

17.3%

22.1%

-4.8%

WW


177


228

-22.2%

-21.8%

-0.4%



735


881

-16.5%

-15.6%

-0.9%

PROCRIT / EPREX
















US


118


151

-21.6%

-21.6%

-



505


674

-25.1%

-25.1%

-

Intl


65


70

-7.1%

-7.0%

-0.1%



285


314

-9.2%

-6.5%

-2.7%

WW


183


221

-17.0%

-16.9%

-0.1%



790


988

-20.0%

-19.2%

-0.8%

OTHER
















US


78


102

-25.0%

-25.0%

-



380


417

-9.1%

-9.1%

-

Intl


209


231

-10.0%

-9.1%

-0.9%



974


1,053

-7.6%

-3.5%

-4.1%

WW


286


333

-14.6%

-14.0%

-0.6%



1,353


1,470

-8.0%

-5.1%

-2.9%

TOTAL PHARMACEUTICAL
















US


6,169


5,936

3.9%

3.9%

-



23,874


23,286

2.5%

2.5%

-

Intl


4,379


4,254

2.9%

5.1%

-2.2%



18,324


17,448

5.0%

10.1%

-5.1%

WW


$     10,548


10,190

3.5%

4.4%

-0.9%



$     42,198


40,734

3.6%

5.8%

-2.2%

















See footnotes at end of schedule
















 

 


REPORTED SALES vs. PRIOR PERIOD ($MM)


FOURTH QUARTER


TWELVE MONTHS






% Change






% Change



2019


2018

Reported

Operational (1)

Currency



2019


2018

Reported

Operational (1)

Currency

MEDICAL DEVICES SEGMENT (2)(4)
















DIABETES CARE(4)
















US


$               -


-

-

-

-



$               -


371

*

*

-

Intl


-


-

-

-

-



-


638

*

*

*

WW


-


-

-

-

-



-


1,009

*

*

*

INTERVENTIONAL SOLUTIONS
















US


377


336

12.2%

12.2%

-



1,443


1,283

12.5%

12.5%

-

Intl


398


350

13.4%

14.3%

-0.9%



1,554


1,363

14.0%

17.8%

-3.8%

WW


774


686

12.8%

13.3%

-0.5%



2,997


2,646

13.3%

15.2%

-1.9%

ORTHOPAEDICS
















US


1,369


1,358

0.9%

0.9%

-



5,319


5,281

0.7%

0.7%

-

Intl


904


904

-0.1%

1.7%

-1.8%



3,520


3,604

-2.3%

1.9%

-4.2%

WW


2,273


2,262

0.5%

1.2%

-0.7%



8,839


8,885

-0.5%

1.2%

-1.7%

HIPS
















US


230


220

4.9%

4.9%

-



863


841

2.6%

2.6%

-

Intl


147


145

1.2%

3.0%

-1.8%



575


577

-0.3%

4.2%

-4.5%

WW


377


365

3.4%

4.2%

-0.8%



1,438


1,418

1.4%

3.3%

-1.9%

KNEES
















US


239


239

0.2%

0.2%

-



889


911

-2.4%

-2.4%

-

Intl


156


153

1.5%

3.2%

-1.7%



591


591

0.0%

4.1%

-4.1%

WW


395


392

0.7%

1.4%

-0.7%



1,480


1,502

-1.4%

0.2%

-1.6%

TRAUMA
















US


413


403

2.3%

2.3%

-



1,652


1,599

3.3%

3.3%

-

Intl


273


271

0.8%

2.6%

-1.8%



1,068


1,100

-2.9%

1.4%

-4.3%

WW


686


674

1.7%

2.5%

-0.8%



2,720


2,699

0.8%

2.5%

-1.7%

SPINE & OTHER
















US


488


496

-1.6%

-1.6%

-



1,915


1,930

-0.8%

-0.8%

-

Intl


329


335

-2.1%

-0.4%

-1.7%



1,286


1,336

-3.8%

0.4%

-4.2%

WW


817


831

-1.8%

-1.1%

-0.7%



3,201


3,266

-2.0%

-0.3%

-1.7%

SURGERY
















US


961


1,094

-12.2%

-12.2%

-



3,828


4,125

-7.2%

-7.2%

-

Intl


1,481


1,493

-0.8%

1.2%

-2.0%



5,673


5,776

-1.8%

2.7%

-4.5%

WW


2,442


2,587

-5.6%

-4.4%

-1.2%



9,501


9,901

-4.0%

-1.4%

-2.6%

ADVANCED
















US


428


441

-3.0%

-3.0%

-



1,637


1,657

-1.2%

-1.2%

-

Intl


647


614

5.5%

7.6%

-2.1%



2,458


2,345

4.8%

9.4%

-4.6%

WW


1,076


1,055

2.0%

3.2%

-1.2%



4,095


4,002

2.3%

5.0%

-2.7%

GENERAL
















US


451


469

-3.9%

-3.9%

-



1,762


1,751

0.6%

0.6%

-

Intl


720


712

1.2%

3.3%

-2.1%



2,718


2,806

-3.1%

1.3%

-4.4%

WW


1,171


1,181

-0.8%

0.4%

-1.2%



4,480


4,557

-1.7%

1.0%

-2.7%

SPECIALTY
















US


83


184

-55.3%

-55.3%

-



430


717

-40.1%

-40.1%

-

Intl


114


167

-32.3%

-30.7%

-1.6%



497


625

-20.5%

-16.4%

-4.1%

WW


195


351

-44.4%

-43.6%

-0.8%



926


1,342

-31.0%

-29.0%

-2.0%

VISION
















US


428


426

0.3%

0.3%

-



1,794


1,777

0.9%

0.9%

-

Intl


713


707

1.0%

1.2%

-0.2%



2,830


2,776

2.0%

4.9%

-2.9%

WW


1,141


1,133

0.7%

0.9%

-0.2%



4,624


4,553

1.6%

3.3%

-1.7%

CONTACT LENSES / OTHER
















US


311


289

7.7%

7.7%

-



1,304


1,237

5.4%

5.4%

-

Intl


522


527

-0.8%

-0.9%

0.1%



2,088


2,065

1.1%

4.0%

-2.9%

WW


833


816

2.2%

2.1%

0.1%



3,392


3,302

2.7%

4.6%

-1.9%

SURGICAL
















US


117


137

-15.2%

-15.2%

-



490


540

-9.4%

-9.4%

-

Intl


191


180

6.4%

7.6%

-1.2%



742


711

4.4%

7.3%

-2.9%

WW


309


317

-3.0%

-2.3%

-0.7%



1,232


1,251

-1.6%

0.1%

-1.7%

















TOTAL MEDICAL DEVICES
















US


3,135


3,214

-2.4%

-2.4%

-



12,384


12,837

-3.5%

-3.5%

-

Intl


3,497


3,454

1.3%

2.7%

-1.4%



13,579


14,157

-4.1%

-0.1%

-4.0%

WW


$       6,632


6,668

-0.5%

0.2%

-0.7%



$     25,963


26,994

-3.8%

-1.7%

-2.1%

































Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures,
and therefore, may not recalculate precisely.

























* Percentage greater than 100% or not meaningful
















(1) Operational growth excludes the effect of translational currency














(2) Unaudited
















(3) Reported as U.S. sales
















(4) Reflects LifeScan divestiture October 2, 2018
















 

(PRNewsfoto/Johnson & Johnson)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2019-fourth-quarter-and-full-year-results-300991143.html

SOURCE Johnson & Johnson