EX-99.2O 3 a2019q1exhibit992o.htm EXHIBIT 99.2O Exhibit

Exhibit 99.2O


Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
 
Condensed Consolidated Statement of Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; in Millions Except Per Share Figures)
FIRST QUARTER
 
 
 
 
 
 
 
 
 
 
 
2019
 
2018
 
Percent
 
 
 
Percent
 
 
 
Percent
 
Increase
 
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
 $ 20,021
 
     100.0
 
 $ 20,009

 
     100.0

 
0.1
Cost of products sold
      6,615
 
       33.0
 
      6,614

 
       33.1

 
0.0
Gross Profit
    13,406
 
67.0
 
    13,395

 
66.9

 
0.1
Selling, marketing and administrative expenses
      5,219
 
       26.1
 
      5,263

 
       26.3

 
(0.8)
Research and development expense
      2,858
 
       14.3
 
      2,404

 
       12.0

 
18.9
In-process research and development
         890
 
         4.4
 
—

 
—

 
 
Interest (income) expense, net
             3
 
         0.0
 
         145

 
         0.7

 
 
Other (income) expense, net
         (22)
 
       (0.1)
 
           60

 
         0.3

 
 
Restructuring
           36
 
         0.2
 
           42

 
         0.2

 
 
Earnings before provision for taxes on income
      4,422
 
       22.1
 
      5,481

 
       27.4

 
(19.3)
Provision for taxes on income
         673
 
         3.4
 
      1,114

 
         5.6

 
(39.6)
Net earnings
      3,749
 
       18.7
 
      4,367

 
       21.8

 
(14.2)
 
 
 
 
 
 
 
 
 
 
Net earnings per share (Diluted)
 $ 1.39
 
 
 
 $ 1.60

 
 
 
(13.1)
 
 
 
 
 
 
 
 
 
 
Average shares outstanding (Diluted)
2,698.8
 
 
 
2,731.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
15.2
%
 
 
20.3

%
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings before provision for taxes and net earnings (1) (A)
 
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income
 $ 6,867
 
34.3
 
 $ 6,858

 
34.3

 
0.1
Net earnings
 $ 5,661
 
28.3
 
 $ 5,635

 
28.2

 
0.5
Net earnings per share (Diluted)
 $ 2.10
 
 
 
 $ 2.06

 
 
 
1.9
Effective tax rate
17.6
%
 
 
17.8

%
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) See Reconciliation of Non-GAAP Financial Measures.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.






Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
FIRST QUARTER
 
 
 
 
 
Percent Change
 
2019
 
2018
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
segment of business
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
 
 
 
 
 
 
 
 
    U.S.
 $ 1,438
 
    1,436
 
   0.2
%
            0.2
 
—

    International
      1,880
 
    1,962
 
  (4.2)
 
            3.7
 
        (7.9)

 
      3,318
   
    3,398
 
  (2.4)
 
            2.2
 
        (4.6)

 
 
 
 
 
 
 
 
 
 
Pharmaceutical
 
 
 
 
 
 
 
 
 
    U.S.
      5,582
 
    5,354
 
   4.3
 
            4.3
 
—

    International
      4,662
 
    4,490
 
   3.9
 
          12.2
 
        (8.3)

 
    10,244
   
    9,844
 
   4.1
 
            7.9
 
        (3.8)

 
 
 
 
 
 
 
 
 
 
Medical Devices
 
 
 
 
 
 
 
 
 
    U.S.
      3,109
   
    3,161
 
  (1.6)
 
          (1.6)
 
—

    International
      3,350
 
    3,606
 
  (7.1)
 
          (0.3)
 
        (6.8)

 
      6,459
   
    6,767
 
  (4.6)
 
          (1.0)
 
        (3.6)

 
 
 
 
 
 
 
 
 
 
U.S.
    10,129
 
    9,951
 
   1.8
 
            1.8
 
—

International
      9,892
 
  10,058
 
  (1.7)
 
            6.0
 
        (7.7)

Worldwide
 $ 20,021
 
  20,009
 
   0.1
%
            3.9
 
        (3.8)

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






























Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
FIRST QUARTER
 
 
 
 
 
Percent Change
 
2019
 
2018
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
geographic area
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S.
 $ 10,129
 
    9,951
 
              1.8
%
            1.8
 
—
 
 
 
 
 
 
 
 
 
 
Europe
      4,609
 
    4,797
 
(3.9)
 
            4.5
 
        (8.4)
Western Hemisphere excluding U.S.
      1,503
 
    1,567
 
            (4.1)
 
            8.7
 
      (12.8)
Asia-Pacific, Africa
      3,780
 
    3,694
 
              2.3
 
            6.9
 
        (4.6)
International
      9,892
 
  10,058
 
            (1.7)
 
            6.0
 
        (7.7)
 
 
 
  
 
  
 
  
 
  
Worldwide
 $ 20,021
 
  20,009
 
              0.1
%
            3.9
 
        (3.8)
 
 
 
 
 
 
 
 
 
 
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.














Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
First Quarter
 
% Incr. /
 
(Dollars in Millions Except Per Share Data)
 
2019
 
2018
 
(Decr.)
 
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as reported
 
 $ 4,422
 
         5,481
 
          (19.3)
%
Intangible asset amortization expense
 
         1,130
 
         1,115
 
 
 
In-process research and development
 
            890
 
—
 
 
 
Litigation expense
 
            423
 
—
 
 
 
Unrealized (gain)/loss on securities
 
           (158)
 
              27
 
 
 
Restructuring/Other (1)
 
              90
 
            107
 
 
 
Actelion acquisition related cost
 
              39
 
              96
 
 
 
AMO acquisition related cost
 
              28
 
              21
 
 
 
Other
 
                3
 
              11
 
 
 
Earnings before provision for taxes on income - as adjusted
 
 $ 6,867
 
         6,858
 
             0.1
 %
 
 
 
 
 
 
 
 
Net Earnings - as reported
 
 $ 3,749
 
         4,367
 
          (14.2)
%
Intangible asset amortization expense
 
            846
 
            996
 
 
 
In-process research and development
 
            703
 
—
 
 
 
Litigation expense
 
            342
 
—
 
 
 
Unrealized (gain)/loss on securities
 
           (125)
 
              21
 
 
 
Restructuring/Other
 
              75
 
              81
 
 
 
Actelion acquisition related cost
 
              37
 
              92
 
 
 
AMO acquisition related cost
 
              23
 
              17
 
 
 
Impact of tax legislation (2)
 
—
 
              52
 
 
 
Other
 
              11
 
                9
 
 
 
Net Earnings - as adjusted
 
 $ 5,661
 
         5,635
 
             0.5
 %
 
 
 
 
 
 
 
 
Diluted Net Earnings per share - as reported
 
 $ 1.39
 
           1.60
 
          (13.1)
%
Intangible asset amortization expense
 
           0.31
 
           0.36
 
 
 
In-process research and development
 
           0.26
 
—
 
 
 
Litigation expense
 
           0.13
 
—
 
 
 
Unrealized (gain)/loss on securities
 
          (0.05)
 
           0.01
 
 
 
Restructuring/Other
 
           0.03
 
           0.03
 
 
 
Actelion acquisition related cost
 
           0.01
 
           0.03
 
 
 
AMO acquisition related cost
 
           0.01
 
           0.01
 
 
 
Impact of tax legislation
 
—
 
           0.02
 
 
 
Other
 
           0.01
 
—
 
 
 
Diluted Net Earnings per share - as adjusted
 
 $ 2.10
 
           2.06
 
             1.9
 %
 
 
 
 
 
 
 
 
Operational Diluted Net Earnings per share - as adjusted at 2017 foreign currency exchange rates
 
 
   
           1.93
 
 
 
 
 
 
 
 
 
 
 
Impact of currency at 2018 foreign currency exchange rates
 
           0.08
   
           0.13
 
 
 
 
 
 
 
 
 
 
 
Operational Diluted Net Earnings per share - as adjusted at 2018 foreign currency exchange rates
 
 $ 2.18
   
           2.06
   
             5.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes $23M recorded in cost of products sold and $31M recorded in other (income) expense in the first quarter 2019, and $6M recorded in cost of products sold and $59M recorded in other (income) expense in the first quarter 2018
 
 
 
 
 
 
 
 
(2) Includes foreign currency translation
 
 
 
 
 
 
 








Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measure
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Operational Sales Growth (A)
 FIRST QUARTER 2019 ACTUAL vs. 2018 ACTUAL
 
 
 
 
 
 
 
 
 
 Segments
 
 
 
 
 
 
 
 
 
 
 
 Consumer
 
 Pharmaceutical
 
 Medical Devices
 
 Total
 WW As Reported
 
(2.4
)%
 
4.1
%
 
(4.6
)%
 
0.1
 %
 U.S.
 
0.2
 %
 
4.3
%
 
(1.6
)%
 
1.8
 %
 International
 
(4.2
)%
 
3.9
%
 
(7.1
)%
 
(1.7
)%
 
 
 
 
 
 
 
 
 
 WW Currency
 
(4.6)

 
(3.8)

 
(3.6)

 
(3.8)

 U.S.
 
—

 
—

 
—

 
—

 International
 
(7.9)

 
(8.3)

 
(6.8)

 
(7.7)

 
 
 
 
 
 
 
 
 
 WW Operational
 
2.2%

 
7.9%

 
(1.0)%

 
3.9%

 U.S.
 
0.2%

 
4.3%

 
(1.6)%

 
1.8%

 International
 
3.7%

 
12.2%

 
(0.3)%

 
6.0%

 
 
 
 
 
 
 
 
 
Beauty
 
 
 
 
 
 
 
 
Nizoral
 
0.4

 
 
 
 
 
0.1

 U.S.
 
0.3

 
 
 
 
 
0.0

 International
 
0.5

 
 
 
 
 
0.1

 
 
 
 
 
 
 
 
 
OTC
 
 
 
 
 
 
 
 
Zarbees
 
(0.8)

 
 
 
 
 
(0.1)

 U.S.
 
(2.0)

 
 
 
 
 
(0.3)

 International
 
0.0

 
 
 
 
 
0.0

 
 
 
 
 
 
 
 
 
Diabetes Care
 
 
 
 
 
 
 
 
LifeScan
 
 
 
 
 
5.1

 
1.7

 U.S.
 
 
 
 
 
3.8

 
1.2

 International
 
 
 
 
 
6.2

 
2.3

 
 
 
 
 
 
 
 
 
Beauty
 
 
 
 
 
 
 
 
RoC
 
0.8

 
 
 
 
 
0.1

 U.S.
 
1.5

 
 
 
 
 
0.2

 International
 
0.3

 
 
 
 
 
0.1

 
 
 
 
 
 
 
 
 
Beauty
 
 
 
 
 
 
 
 
Dr. Ci Labo - Japan
 
(2.1)

 
 
 
 
 
(0.4)

 U.S.
 
0.0

 
 
 
 
 
0.0

 International
 
(3.6)

 
 
 
 
 
(0.7)

 
 
 
 
 
 
 
 
 
All Other Acquisitions and Divestitures
 
0.2

 
0.0

 
0.2

 
0.1

 U.S.
 
0.0

 
0.0

 
0.3

 
0.1

 International
 
0.4

 
0.0

 
0.0

 
0.1

 
 
 
 
 
 
 
 
 
WW Adjusted Operational
 
0.7%

 
7.9%

 
4.3%

 
5.5%

 U.S.
 
0.0%

 
4.3%

 
2.5%

 
3.1%

 International
 
1.3%

 
12.2%

 
5.9%

 
7.9%

 
 
 
 
 
 
 
 
 
Note: Percentages are based on actual, non-rounded figures and may not sum.
 
 
 
 
 
 
 
 
 
 
 
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.




Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency

CONSUMER SEGMENT (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BABY CARE
 
 
 
 
 
 
 
 
 
US
 
$
87

 
97

 
(10.9
)%
(10.9
)%
—
 %
Intl
 
 
307

 
360

 
(14.8
)
(6.4
)
(8.4
)
WW
 
 
394

 
457

 
(14.0
)
(7.4
)
(6.6
)
 
 
 
 
 
 
 
 
 
 
BEAUTY
 
 
 
 
 
 
 
 
 
US
 
 
588

 
611

 
(3.8
)
(3.8
)
—

Intl
 
 
502

 
473

 
6.2

13.1

(6.9
)
WW
 
 
1,090

 
1,084

 
0.6

3.6

(3.0
)
 
 
 
 
 
 
 
 
 
 
ORAL CARE
 
 
 
 
 
 
 
 
 
US
 
 
151

 
157

 
(3.5
)
(3.5
)
—

Intl
 
 
216

 
222

 
(2.8
)
4.6

(7.4
)
WW
 
 
367

 
379

 
(3.1
)
1.2

(4.3
)
 
 
 
 
 
 
 
 
 
 
OTC
 
 
 
 
 
 
 
 
 
US
 
 
507

 
465

 
9.1

9.1

—

Intl
 
 
580

 
607

 
(4.6
)
2.8

(7.4
)
WW
 
 
1,087

 
1,072

 
1.3

5.5

(4.2
)
 
 
 
 
 
 
 
 
 
 
WOMEN'S HEALTH
 
 
 
 
 
 
 
 
 
US
 
 
3

 
3

 
4.2

4.2

—

Intl
 
 
222

 
240

 
(7.5
)
4.3

(11.8
)
WW
 
 
225

 
243

 
(7.3
)
4.3

(11.6
)
 
 
 
 
 
 
 
 
 
 
WOUND CARE / OTHER
 
 
 
 
 
 
 
 
 
US
 
 
102

 
103

 
(0.9
)
(0.9
)
—

Intl
 
 
53

 
60

 
(11.6
)
(6.0
)
(5.6
)
WW
 
 
155

 
163

 
(4.8
)
(2.7
)
(2.1
)
 
 
 
 
 
 
 
 
 
 
TOTAL CONSUMER
 
 
 
 
 
 
 
 
 
US
 
 
1,438

 
1,436

 
0.2

0.2

—

Intl
 
 
1,880

 
1,962

 
(4.2
)
3.7

(7.9
)
WW
 
$
3,318

 
3,398

 
(2.4
)%
2.2
 %
(4.6
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 





Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (4)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IMMUNOLOGY
 
 
 
 
 
 
 
 
 
US
 
$
2,163

 
2,000

 
8.1
 %
8.1
 %
—
 %
Intl
 
 
1,088

 
1,042

 
4.5

12.6

(8.1
)
WW
 
 
3,251

 
3,042

 
6.9

9.6

(2.7
)
     REMICADE
 
 
 
 
 
 
 
 
 
     US
 
 
774

 
916
 
(15.5
)
(15.5
)
—

     US Exports (3)
 
 
76

 
142

 
(46.4
)
(46.4
)
—

     Intl
 
 
252

 
331

 
(23.6
)
(17.2
)
(6.4
)
     WW
 
 
1,102

 
1,389

 
(20.6
)
(19.1
)
(1.5
)
     SIMPONI / SIMPONI ARIA
 
 
 
 
 
 
 
 
 
     US
 
 
263

 
224

 
17.0

17.0

—

     Intl
 
 
261

 
294

 
(11.1
)
(3.8
)
(7.3
)
     WW
 
 
524

 
518

 
1.0

5.2

(4.2
)
     STELARA
 
 
 
 
 
 
 
 
 
     US
 
 
882

 
652

 
35.2

35.2

—

     Intl
 
 
523

 
409

 
27.9

37.2

(9.3
)
     WW
 
 
1,405

 
1,061

 
32.4

36.0

(3.6
)
     TREMFYA
 
 
 
 
 
 
 
 
 
     US
 
 
168

 
66

 
*

*

—

     Intl
 
 
49

 
6

 
*

*

*

     WW
 
 
217

 
72

 
*

*

*

     OTHER IMMUNOLOGY (4)
 
 
 
 
 
 
 
 
 
     US
 
 
—

 
—

 
—

—

—

     Intl
 
 
3

 
2

 
19.5

21.0

(1.5
)
     WW
 
 
3

 
2

 
19.5

21.0

(1.5
)
 
 
 
 
 
 
 
 
 
 
INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
US
 
 
357

 
333

 
7.3

7.3

—

Intl
 
 
489

 
497

 
(1.7
)
7.8

(9.5
)
WW
 
 
846

 
830

 
1.9

7.6

(5.7
)
     EDURANT / rilpivirine
 
 
 
 
 
 
 
 
 
     US
 
 
12

 
14

 
(18.8
)
(18.8
)
—

     Intl
 
 
199

 
196

 
2.2

10.6

(8.4
)
     WW
 
 
211

 
210

 
0.8

8.6

(7.8
)
     PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
 
 
 
 
 
 
     US
 
 
315

 
273

 
15.5

15.5

—

     Intl
 
 
208

 
205

 
1.5

11.9

(10.4
)
     WW
 
 
523

 
478

 
9.5

13.9

(4.4
)
     OTHER INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
     US
 
 
30

 
46

 
(33.8
)
(33.8
)
—

     Intl
 
 
82

 
96

 
(16.0
)
(6.3
)
(9.7
)
     WW
 
 
112

 
142

 
(21.7
)
(15.1
)
(6.6
)
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 




Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (4) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEUROSCIENCE
 
 
 
 
 
 
 
 
 
US
 
$
723

 
624

 
16.0
 %
16.0
 %
—
 %
Intl
 
 
905

 
935

 
(3.2
)
4.3

(7.5
)
WW
 
 
1,629

 
1,559

 
4.5

9.0

(4.5
)
     CONCERTA / methylphenidate
 
 
 
 
 
 
 
 
 
     US
 
 
97

 
66

 
47.7

47.7

—

     Intl
 
 
116

 
107

 
8.5

15.8

(7.3
)
     WW
 
 
214

 
173

 
23.4

28.0

(4.6
)
     INVEGA SUSTENNA / XEPLION / INVEGA
 
 
 
 
 
     TRINZA / TREVICTA
 
 
 
 
 
 
 
 
 
     US
 
 
483

 
400

 
20.7

20.7

—

     Intl
 
 
307

 
296

 
3.8

12.3

(8.5
)
     WW
 
 
790

 
696

 
13.5

17.1

(3.6
)
     RISPERDAL CONSTA
 
 
 
 
 
 
 
 
 
     US
 
 
77

 
82

 
(6.8
)
(6.8
)
—

     Intl
 
 
102

 
114

 
(10.3
)
(2.4
)
(7.9
)
     WW
 
 
179

 
196

 
(8.8
)
(4.3
)
(4.5
)
     OTHER NEUROSCIENCE
 
 
 
 
 
 
 
 
 
     US
 
 
66

 
76

 
(12.0
)
(12.0
)
—

     Intl
 
 
379

 
418

 
(9.2
)
(2.5
)
(6.7
)
     WW
 
 
446

 
494

 
(9.6
)
(3.9
)
(5.7
)
 
 
 
 
 
 
 
 
 
 
ONCOLOGY
 
 
 
 
 
 
 
 
 
US
 
 
962

 
933

 
3.1

3.1

—

Intl
 
 
1,556

 
1,378

 
13.0

22.2

(9.2
)
WW
 
 
2,518

 
2,311

 
9.0

14.5

(5.5
)
     DARZALEX
 
 
 
 
 
 
 
 
 
     US
 
 
352

 
264

 
33.0

33.0

—

     Intl
 
 
277

 
168

 
65.1

80.1

(15.0
)
     WW
 
 
629

 
432

 
45.5

51.3

(5.8
)
     IMBRUVICA
 
 
 
 
 
 
 
 
 
     US
 
 
349

 
227

 
53.7

53.7

—

     Intl
 
 
435

 
360

 
20.8

32.0

(11.2
)
     WW
 
 
784

 
587

 
33.5

40.4

(6.9
)
     VELCADE
 
 
 
 
 
 
 
 
 
     US
 
 
—

 
—

 
—

—

—

     Intl
 
 
263

 
313

 
(16.0
)
(10.1
)
(5.9
)
     WW
 
 
263

 
313

 
(16.0
)
(10.1
)
(5.9
)
     ZYTIGA / abiraterone acetate
 
 
 
 
 
 
 
 
 
     US
 
 
185

 
407

 
(54.5
)
(54.5
)
—

     Intl
 
 
494

 
438

 
12.9

20.9

(8.0
)
     WW
 
 
679

 
845

 
(19.6
)
(15.4
)
(4.2
)
     OTHER ONCOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 
76

 
35

 
*

*

—

     Intl
 
 
87

 
99

 
(12.2
)
(3.9
)
(8.3
)
     WW
 
 
163

 
134

 
21.7

27.8

(6.1
)
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (4) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
PULMONARY HYPERTENSION
 
 
 
 
 
 
US
 
$
430

 
361

 
19.2
 %
19.2
 %
—
 %
Intl
 
 
226

 
224

 
0.7

8.6

(7.9
)
WW
 
 
656

 
585

 
12.1

15.1

(3.0
)
     OPSUMIT
 
 
 
 
 
 
 
 
 
     US
 
 
172

 
149

 
15.9

15.9

—

     Intl
 
 
133

 
122

 
8.9

17.8

(8.9
)
     WW
 
 
306

 
271

 
12.7

16.8

(4.1
)
     TRACLEER
 
 
 
 
 
 
 
 
 
     US
 
 
61

 
68

 
(10.1
)
(10.1
)
—

     Intl
 
 
56

 
72

 
(22.9
)
(18.3
)
(4.6
)
     WW
 
 
117

 
140

 
(16.7
)
(14.4
)
(2.3
)
     UPTRAVI
 
 
 
 
 
 
 
 
 
     US
 
 
176

 
124

 
41.4

41.4

—

     Intl
 
 
22

 
16

 
42.8

53.6

(10.8
)
     WW
 
 
198

 
140

 
41.6

42.8

(1.2
)
     OTHER
 
 
 
 
 
 
 
     US
 
 
21

 
20

 
3.6

3.6

—

     Intl
 
 
15

 
14

 
4.6

17.1

(12.5
)
     WW
 
 
35

 
34

 
4.0

9.2

(5.2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (4) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR / METABOLISM / OTHER
 
 
 
 
 
 
US
 
$
947

 
1,103

 
(14.1
)%
(14.1
)%
—
 %
Intl
 
 
398

 
414

 
(3.9
)
2.7

(6.6
)
WW
 
 
1,345

 
1,517

 
(11.3
)
(9.5
)
(1.8
)
     XARELTO
 
 
 
 
 
 
 
 
 
     US
 
 
542

 
578

 
(6.3
)
(6.3
)
—

     Intl
 
 
—

 
—

 
—

—

—

     WW
 
 
542

 
578

 
(6.3
)
(6.3
)
—

     INVOKANA / INVOKAMET
 
 
 
 
 
 
 
 
 
     US
 
 
154

 
204

 
(24.8
)
(24.8
)
—

     Intl
 
 
49

 
44

 
11.6

20.0

(8.4
)
     WW
 
 
202

 
248

 
(18.4
)
(16.9
)
(1.5
)
     PROCRIT / EPREX
 
 
 
 
 
 
 
 
 
     US
 
 
148

 
189

 
(21.6
)
(21.6
)
—

     Intl
 
 
78

 
87

 
(10.2
)
(5.2
)
(5.0
)
     WW
 
 
226

 
276

 
(18.0
)
(16.4
)
(1.6
)
     OTHER
 
 
 
 
 
 
 
 
 
     US
 
 
104

 
132

 
(21.3
)
(21.3
)
—

     Intl
 
 
271

 
283

 
(4.4
)
2.5

(6.9
)
     WW
 
 
374

 
415

 
(9.7
)
(5.1
)
(4.6
)
 
 
 
 
 
 
 
 
 
 
TOTAL PHARMACEUTICAL
 
 
 
 
 
 
 
 
 
US
 
 
5,582

 
5,354

 
4.3

4.3

—

Intl
 
 
4,662

 
4,490

 
3.9

12.2

(8.3
)
WW
 
$
10,244

 
9,844

 
4.1
 %
7.9
 %
(3.8
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency

MEDICAL DEVICES SEGMENT (2) (5)
 
 
 
 
 
 
 
 
 
 
 
 
 
DIABETES CARE (5)
 
 
 
 
 
 
US
 
$
—

 
117

 
*

*

—
 %
Intl
 
 
—

 
222

 
*

*

*

WW
 
 
—

 
339

 
*

*

*

 
 
 
 
 
 
 
 
 
 
INTERVENTIONAL SOLUTIONS
 
 
 
 
 
 
 
 
 
US
 
 
343

 
304

 
12.6

12.6

—

Intl
 
 
389

 
336

 
15.8

22.7

(6.9
)
WW
 
 
732

 
640

 
14.3

17.9

(3.6
)
 
 
 
 
 
 
 
 
 
 
ORTHOPAEDICS
 
 
 
 
 
 
 
 
 
US
 
 
1,318

 
1,307

 
0.9

0.9

—

Intl
 
 
885

 
943

 
(6.2
)
0.7

(6.9
)
WW
 
 
2,204

 
2,250

 
(2.1
)
0.8

(2.9
)
 
 
 
 
 
 
 
 
 
 
     HIPS
 
 
 
 
 
 
 
 
 
     US
 
 
213

 
209

 
2.1

2.1

—

     Intl
 
 
148

 
154

 
(3.8
)
3.5

(7.3
)
     WW
 
 
361

 
363

 
(0.4
)
2.7

(3.1
)
 
 
 
 
 
 
 
 
 
 
     KNEES
 
 
 
 
     US
 
 
223

 
228

 
(2.2
)
(2.2
)
—

     Intl
 
 
146

 
159

 
(8.2
)
(1.5
)
(6.7
)
     WW
 
 
369

 
387

 
(4.7
)
(1.9
)
(2.8
)
 
 
 
 
 
 
 
 
 
 
     TRAUMA
 
 
 
 
 
 
 
 
 
     US
 
 
417

 
407

 
2.5

2.5

—

     Intl
 
 
268

 
289

 
(7.0
)
(0.3
)
(6.7
)
     WW
 
 
685

 
696

 
(1.4
)
1.3

(2.7
)
 
 
 
 
 
 
 
 
 
 
     SPINE & OTHER
 
 
     US
 
 
465

 
463

 
0.3

0.3

—

     Intl
 
 
323

 
341

 
(5.5
)
1.3

(6.8
)
     WW
 
 
788

 
804

 
(2.2
)
0.7

(2.9
)
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 


Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
FIRST QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2019
 
2018
 
Reported
Operational (1)
Currency

MEDICAL DEVICES SEGMENT (2) (5) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
SURGERY
 
 
 
 
 
 
US
 
$
1,001

 
993

 
0.8
 %
0.8
 %
—
 %
Intl
 
 
1,394

 
1,430

 
(2.6
)
4.7

(7.3
)
WW
 
 
2,395

 
2,423

 
(1.2
)
3.1

(4.3
)
 
 
 
 
 
 
 
 
 
 
     ADVANCED
 
 
 
 
 
 
 
 
 
     US
 
 
404

 
393

 
2.9

2.9

—

     Intl
 
 
576

 
573

 
0.5

7.7

(7.2
)
     WW
 
 
980

 
966

 
1.5

5.8

(4.3
)
 
 
 
 
 
 
 
 
 
 
     GENERAL
 
 
 
 
 
 
 
 
 
     US
 
 
425

 
423

 
0.3

0.3

—

     Intl
 
 
665

 
704

 
(5.6
)
1.6

(7.2
)
     WW
 
 
1,089

 
1,127

 
(3.4
)
1.1

(4.5
)
 
 
 
 
 
 
 
 
 
 
     SPECIALTY
 
 
 
 
 
 
 
 
 
     US
 
 
172

 
177

 
(2.5
)
(2.5
)
—

     Intl
 
 
153

 
153

 
(0.2
)
7.6

(7.8
)
     WW
 
 
325

 
330

 
(1.4
)
2.2

(3.6
)
 
 
 
 
 
 
 
 
 
 
VISION
 
 
 
 
US
 
 
446

 
440

 
1.5

1.5

—

Intl
 
 
682

 
675

 
1.1

7.2

(6.1
)
WW
 
 
1,129

 
1,115

 
1.2

5.0

(3.8
)
 
 
 
 
 
 
 
 
 
 
     CONTACT LENSES / OTHER
 
 
 
 
 
 
 
 
 
     US
 
 
321

 
309

 
4.1

4.1

—

     Intl
 
 
502

 
498

 
1.0

7.4

(6.4
)
     WW
 
 
824

 
807

 
2.1

6.1

(4.0
)
     SURGICAL
 
 
 
 
 
 
 
 
 
     US
 
 
125

 
131

 
(4.5
)
(4.5
)
—

     Intl
 
 
180

 
177

 
1.3

6.8

(5.5
)
     WW
 
 
305

 
308

 
(1.1
)
2.0

(3.1
)
 
 
 
 
 
 
 
 
 
 
TOTAL MEDICAL DEVICES
 
 
US
 
 
3,109

 
3,161

 
(1.6
)
(1.6
)
—

Intl
 
 
3,350

 
3,606

 
(7.1
)
(0.3
)
(6.8
)
WW
 
$
6,459

 
6,767

 
(4.6
)%
(1.0
)%
(3.6
)%
 
 
 
 
 
 
 
 
 
 
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) Prior year amounts have been reclassified to conform to current year product disclosure
(5) Reflects LifeScan divestiture October 2, 2018