News Releases
View printer-friendly version < < backMr. 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 |
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 |
|
|
Currency |
Adjusted |
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 |
|
Currency |
Adjusted |
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 |
|||||
|
2019 |
2018 |
Reported |
Operational1,2 |
Currency |
Adjusted |
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
Regulatory Approvals |
DARZALEX (daratumumab) - European Commission Approves Combination with Bortezomib, Thalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Eligible1 |
|
SPRAVATO (esketamine) Nasal Spray - Approved in Europe for Adults with Treatment-Resistant Major Depressive Disorder |
||
DARZALEX (daratumumab) - European Commission Approves Combination with Lenalidomide and Dexamethasone for Patients with Newly Diagnosed Multiple Myeloma Who Are Transplant Ineligible |
||
STELARA (ustekinumab) - U.S. FDA Approval for the Treatment of Adults with Moderately to Severely Active Ulcerative Colitis |
||
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 |
|
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 |
||
Ebola Vaccine Regimen - Submission of MAA to EMA for Prevention of Ebola Virus Disease (EVD) caused by Zaire Ebolavirus Species. |
||
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 |
||
Other |
Completion of Acquisition of Bermekimab, an investigational compound for multiple dermatological indications, from XBiotech Inc. 1 |
|
Rilpivirine and Cabotegravir - U.S. FDA issues Complete Response Letter Issued for Investigational Two-Drug Long-Acting HIV Regimen |
||
Completion of Acquisition of TARIS Biomedical with Focus on Transforming the Treatment of Bladder Cancer |
||
Agreement Announced to Acquire Remaining Stake in Verb Surgical Inc. |
||
BCMA CAR-T Therapy Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of Relapsed or Refractory Multiple Myeloma |
||
J&J Vision Introduces TECNIS Toric II 1-Piece IOL as New Monofocal Option for Cataract Patients with Astigmatism |
||
Ethicon Launches VISTASEAL Fibrin Sealant (Human) To Manage Bleeding During Surgery |
||
New Cervical Spine System from DePuy Synthes Advances Treatment Options for Patients with Complex Cervical Spine Disorders |
||
1 Subsequent to the quarter |
FULL-YEAR 2020 GUIDANCE:
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) |
4 Non-GAAP financial measure; excludes intangible amortization expense and special items |
Other modeling considerations will be provided on the webcast. |
WEBCAST INFORMATION:
ABOUT
At
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
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 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% |