Johnson & Johnson : 2024 First-Quarter Press Release & Supplemental Schedules

Media contact:	Investor contact:
Tesia Williams	Jessica Moore
[e-mail]	[e-mail]

For immediate release

Johnson & Johnson Reports Q1 2024 Results

• 2024 First-Quarter reported sales growth of 2.3% to $21.4 Billion with operational growth of 3.9%* and adjusted operational growth of 4.0%*

• 1. Adjusted operational growth excluding COVID-19 Vaccine of 7.7%*
• 2024 First-Quarter Earnings per share (EPS) increased to $2.20 and adjusted EPS increased to $2.71 or 12.4%*
• Company increasing the midpoint for Full-Year 2024 operational sales5 and adjusted operational EPS guidance

New Brunswick, N.J. (April 16, 2024) - Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2024. "Johnson & Johnson's solid first quarter performance reflects our sharpened focus and the progress in our portfolio and pipeline," said Joaquin Duato, Chairman and Chief Executive Officer. "Our impact across the full spectrum of healthcare is unique in our industry, and the milestones achieved this quarter reinforce our position as an innovation powerhouse."

Unless otherwise noted, the financial results and earnings guidance included below reflect the continuing operations of Johnson & Johnson.

Overall Financial Results

				Q1
	($ in Millions, except EPS)	2024		2023		% Change
	Reported Sales	$21,383	$20,894	2.3%
	Net Earnings/(Loss)	$5,354	($491)
	EPS (Diluted/Basic)6	$2.20	($0.19)

					Q1
	Non-GAAP* ($ in Millions, except EPS)		2024		2023	% Change
	Operational Sales1,2				3.9%
	Adjusted Operational Sales1,3				4.0%
	Adjusted Operational Sales ex.				7.7%
	COVID-19 Vaccine1,3
	Adjusted Net Earnings1,4	$6,580	$6,340	3.8%
	Adjusted EPS (Diluted)1,4	$2.71	$2.41	12.4%

1. Non-GAAPfinancial 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
5. Excludes COVID-19 Vaccine
6. Basic shares are used to calculate loss per share in the first quarter of 2023 as use of diluted shares when in a loss position would be anti-dilutive Note: Values may have been rounded

Regional Sales Results

	Q1										% Change
	($ in Millions)		2024			2023			Reported		Operational1,2		Currency			Adjusted
										Operational1,3
	U.S.	$11,620		$10,782		7.8%	7.8	-		7.9
	International	9,763		10,112		(3.4)	(0.3)	(3.1)		(0.3)
	Worldwide	$21,383		$20,894		2.3%	3.9	(1.6)		4.0

1. Non-GAAPfinancial 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

	Q1										% Change
	($ in Millions)		2024			2023			Reported		Operational1,2		Currency			Adjusted
										Operational1,3
	Innovative Medicine	$13,562		$13,413		1.1%	2.5	(1.4)		2.5
	MedTech	7,821		7,481		4.5	6.3	(1.8)		6.5
	Worldwide	$21,383		$20,894		2.3%	3.9	(1.6)		4.0

1. Non-GAAPfinancial 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 Values may have been rounded

First Quarter 2024 Segment Commentary:

Operational sales* reflected below excludes the impact of translational currency. Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.

Innovative Medicine

Innovative Medicine worldwide operational sales, excluding the COVID-19 Vaccine, grew 8.3%*. Growth was driven by DARZALEX (daratumumab), ERLEADA (apalutamide), CARVYKTI (ciltacabtagene autoleucel), TECVAYLI (teclistamab- cqyv) and Other Oncology in Oncology, UPTRAVI (selexipag) and OPSUMIT (macitentan) in Pulmonary Hypertension, TREMFYA (guselkumab) in Immunology, and SPRAVATO (esketamine) in Neuroscience. Including the COVID-19 Vaccine, Innovative Medicine worldwide operational sales grew 2.5%*.

MedTech

MedTech worldwide operational sales grew 6.3%* driven primarily by electrophysiology products and Abiomed in Cardiovascular, previously referred to as Interventional Solutions, and wound closure products in General Surgery.

Notable New Announcements in the Quarter:

The information contained in this section should be read together 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.comor on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investor Relations section of the company's website at News Releases, as well as Innovative Medicine News Center,MedTech News & Events,www.factsabouttalc.com, and www.LLTManagementInformation.com.

	CARVYKTI is the First and Only BCMA-Targeted Treatment Approved by the U.S. FDA for	Press
	Patients with Relapsed or Refractory Multiple Myeloma Who Have Received At Least One Prior
	Release
	Line of Therapy1
	Johnson & Johnson's nipocalimab granted U.S. FDA Fast Track designation to reduce the risk of	Press
	fetal neonatal alloimmune thrombocytopenia (FNAIT) in alloimmunized pregnant adults	Release
	Biosense Webster Submits Application to U.S. FDA Seeking Approval of the VARIPULSE	Press
	Platform for the Treatment of Paroxysmal Atrial Fibrillation	Release
	U.S. FDA Approves OPSYNVI (macitentan and tadalafil) as the First and Only Once-Daily	Press
	Single-Tablet Combination Therapy for Patients with Pulmonary Arterial Hypertension (PAH)	Release
	U.S. FDA Oncologic Drugs Advisory Committee recommends CARVYKTI (ciltacabtagene	Press
	autoleucel) for the earlier treatment of patients with relapsed or refractory multiple myeloma	Release
	Johnson & Johnson submits supplemental Biologics License Application to U.S. FDA seeking	Press
	approval of TREMFYA (guselkumab) for the treatment of adults with moderately to severely
	Release
	active ulcerative colitis
Regulatory	Johnson & Johnson submits application to the European Medicines Agency for DARZALEX	Press
(daratumumab)-based quadruplet therapy for the treatment of patients with transplant-eligible,
	Release
	newly diagnosed multiple myeloma
	RYBREVANT (amivantamab-vmjw) in Combination With Chemotherapy Is the First FDA	Press
	Approved Therapy for First-line Treatment of Patients With Non-Small Cell Lung Cancer with
	Release
	EGFR Exon 20 Insertion Mutations
	Janssen Receives Positive CHMP Opinion for CARVYKTI (ciltacabtagene autoleucel; cilta-cel)	Press
	for Treatment in Earlier Lines of Relapsed and Refractory Multiple Myeloma	Release
	TECVAYLI (teclistamab-cqyv) biweekly dosing approved by the U.S. FDA for the treatment of	Press
	patients with relapsed or refractory multiple myeloma	Release
	Johnson & Johnson's nipocalimab granted U.S. FDA Breakthrough Therapy Designation for the	Press
	treatment of individuals at high risk for severe hemolytic disease of the fetus and newborn
	Release
	(HDFN)
	Johnson & Johnson submits supplemental Biologics License Application to U.S. FDA seeking	Press
	approval of DARZALEX FASPRO (daratumumab and hyaluronidase-fihj) based regimen for the
	Release
	treatment of patients with transplant-eligible, newly diagnosed multiple myeloma
	Unique molecular properties of nipocalimab enabling differentiated potential in treating	Press
	generalized myasthenia gravis to be presented at American Academy of Neurology's 2024
	Release
	Annual Meeting1
	Johnson & Johnson to Showcase its Broad Scientific Leadership and Latest Innovations to	Press
	Combat Cardiovascular Disease at ACC.241	Release
	RYBREVANT (amivantamab-vmjw) data at ELCC advance Johnson & Johnson's ambition to	Press
	transform the standard of care for patients with EGFR-mutatednon-small cell lung cancer	Release
Data Release	New data shows JNJ-2113, the first and only investigational targeted oral peptide, maintained	Press
skin clearance in moderate-to-severe plaque psoriasis through one year	Release
	Investigational targeted oral peptide JNJ-2113 demonstrated positive results in moderate-to-	Press
	severe plaque psoriasis in Phase 2b study published in New England Journal of Medicine	Release
	Johnson & Johnson reports positive topline results for Nipocalimab from a Phase 3 pivotal study	Press
	in generalized myasthenia gravis (gMG) and a Phase 2 study in Sjögren's Disease (SjD)	Release
	Johnson & Johnson Highlights Ambition to Transform the Treatment of Prostate Cancer and	Press
	Bladder Cancer through Data Presentations at ASCO GU	Release
Product Launch	Biosense Webster Announces CE Mark approval in Europe for VARIPULSE Pulsed Field	Press
Ablation (PFA) Platform	Release
	Johnson & Johnson to Acquire Shockwave Medical1	Press
	Release
Other
Johnson & Johnson Completes Acquisition of Ambrx	Press
	Release

1 Subsequent to the quarter

Full-Year 2024 Guidance:

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

	($ in Billions, except EPS)		April 2024		January 2024
	Adjusted Operational Sales1,2,5		5.5% - 6.0% / 5.8%		5.0% - 6.0% / 5.5%
	Change vs. Prior Year / Mid-point
	Operational Sales2,5/ Mid-point		$88.7B - $89.1B / $88.0B		$88.2B - $89.0B / $88.6B
	Change vs. Prior Year / Mid-point		5.5% - 6.0% / 5.8%		5.0% - 6.0% / 5.5%
	Estimated Reported Sales3,5/ Mid-point		$88.0B - $88.4B / $88.2B		$87.8B - $88.6B / $88.2B
	Change vs. Prior Year / Mid-point		4.7% - 5.2% / 5.0%		4.5% - 5.5% / 5.0%
	Adjusted Operational EPS (Diluted)2,4/ Mid-point		$10.60 - $10.75 / $10.68		$10.55 - $10.75 / $10.65
	Change vs. Prior Year / Mid-point		6.9% - 8.4% / 7.7%		6.4% - 8.4% / 7.4%
	Adjusted EPS (Diluted)3,4 / Mid-point		$10.57 - $10.72 / $10.65		$10.55 - $10.75 / $10.65
	Change vs. Prior Year / Mid-point		6.6% - 8.1% / 7.4%		6.4% - 8.4% / 7.4%

1. Non-GAAPfinancial measure; excludes the net impact of acquisitions and divestitures
2. Non-GAAPfinancial measure; excludes the impact of translational currency
3. Calculated using Euro Average Rate: April 2024 = $1.08 and January 2024 = $1.09 (Illustrative purposes only)
4. Non-GAAPfinancial measure; excludes intangible amortization expense and special items

5 Excludes COVID-19 Vaccine

Note: Percentages may have been rounded

Other modeling considerations will be provided on the webcast.

Webcast Information:

Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investor Relations section of the company's website at events-and-presentations.

About Johnson & Johnson:

At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at https://www.jnj.com/.

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 Investor Relations 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, an Innovative Medicine pipelineof selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investor Relations 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, and 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, including restructuring plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company's ability to realize the anticipated benefits from the separation of Kenvue Inc; and Kenvue's ability to succeed as a standalone publicly traded company. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov,www.jnj.comor 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)				FIRST QUARTER
						Percent Change
		2024	2023	Total		Operations	Currency
Sales to customers by
segment of business
Innovative Medicine (1)
U.S.		7,612	7,023	8.4		8.4	-
International		5,950	6,390	(6.9)		(4.0)	(2.9)
		13,562	13,413	1.1		2.5	(1.4)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S.		7,612	7,023	8.4		8.4	-
International		5,925	5,643	5.0		8.3	(3.3)
		13,537	12,666	6.9		8.3	(1.4)
MedTech
U.S.		4,008	3,759	6.6		6.6	-
International		3,813	3,722	2.4		6.1	(3.7)
		7,821	7,481	4.5		6.3	(1.8)
U.S.		11,620	10,782	7.8		7.8	-
International		9,763	10,112	(3.4)		(0.3)	(3.1)
Worldwide		21,383	20,894	2.3		3.9	(1.6)
U.S.		11,620	10,782	7.8		7.8	-
International		9,738	9,365	4.0		7.4	(3.4)
Worldwide excluding COVID-19 Vaccine (1)	$	21,358	20,147	6.0	%	7.6	(1.6)

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

1. Refer to supplemental sales information schedules

Johnson & Johnson and Subsidiaries

Supplementary Sales Data

(Unaudited; Dollars in Millions)				FIRST QUARTER
						Percent Change
		2024	2023	Total		Operations	Currency
Sales to customers by
geographic area
U.S.	$	11,620	10,782	7.8	%	7.8	-
Europe		5,163	5,590	(7.6)		(7.7)	0.1
Western Hemisphere excluding U.S.		1,194	1,076	11.0		21.3	(10.3)
Asia-Pacific, Africa		3,406	3,446	(1.1)		5.0	(6.1)
International		9,763	10,112	(3.4)		(0.3)	(3.1)
Worldwide	$	21,383	20,894	2.3	%	3.9	(1.6)

Johnson & Johnson and Subsidiaries

Supplementary Sales Data

(Unaudited; Dollars in Millions)				FIRST QUARTER
						Percent Change
		2024	2023	Total		Operations	Currency
Sales to customers by
geographic area (ex. COVID-19 Vaccine)
U.S.*	$	11,620	10,782	7.8	%	7.8	-
Europe(1)		5,138	4,843	6.1		6.0	0.1
Western Hemisphere excluding U.S.*		1,194	1,076	11.0		21.3	(10.3)
Asia-Pacific, Africa*		3,406	3,446	(1.1)		5.0	(6.1)
International		9,738	9,365	4.0		7.4	(3.4)
Worldwide	$	21,358	20,147	6.0	%	7.6	(1.6)

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

1. Refer to supplemental sales information schedules *No COVID-19 Vaccine sales

Johnson & Johnson and Subsidiaries

Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)				FIRST QUARTER
		2024				2023		Percent
			Percent				Percent	Increase
	Amount	to Sales		Amount	to Sales	(Decrease)
Sales to customers	$	21,383	100.0	$	20,894	100.0	2.3
Cost of products sold		6,511	30.4			6,687	32.0	(2.6)
Gross Profit		14,872	69.6			14,207	68.0	4.7
Selling, marketing and administrative expenses		5,257	24.6			4,906	23.5	7.2
Research and development expense		3,542	16.6			3,455	16.6	2.5
In-process research and development impairments		-	-			49	0.2
Interest (income) expense, net		(209)	(1.0)			14	0.1
Other (income) expense, net		(322)	(1.5)			6,940	33.2
Restructuring		164	0.8			130	0.6
Earnings/(loss) before provision for taxes on income		6,440	30.1			(1,287)	(6.2)
Provision for/(Benefit from) taxes on income		1,086	5.1			(796)	(3.9)
Net earnings/(loss) from Continuing Operations	$	5,354	25.0	$	(491)	(2.3)
Net earnings from Discontinued Operations, net of tax		-				423
Net earnings/(loss)	$	5,354		$	(68)
Net earnings (loss) per share (Diluted/Basic) from Continuing Operations	$	2.20		$	(0.19)
Net earnings per share (Diluted) from Discontinued Operations	$	-		$	0.16
Average shares outstanding (Diluted/Basic)		2,430.1				2,605.5 *
Effective tax rate from Continuing Operations		16.9 %				61.8 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1)
Earnings before provision for taxes on income from Continuing Operations	$	7,877	36.8	$	7,536	36.1	4.5
Net earnings from Continuing Operations	$	6,580	30.8	$	6,340	30.3	3.8
Net earnings per share (Diluted) from Continuing Operations	$	2.71		$	2.41		12.4
Average shares outstanding (Diluted)		2,430.1				2,634.3
Effective tax rate from Continuing Operations		16.5 %				15.9 %

*Basic shares are used to calculate loss per share in the first quarter of 2023 as use of diluted shares when in a loss position would be anti-dilutive

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

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measures

	First Quarter
(Dollars in Millions Except Per Share Data)	2024			2023
Net Earnings/(loss) from Continuing Operations, after tax- as reported	$5,354			($491)
Pre-tax Adjustments
Litigation related	-			6,900
Intangible Asset Amortization expense	1,078			1,122
COVID-19 Vaccine related costs 1	9			444
Restructuring related 2	171			130
Medical Device Regulation 3	51			64
Acquisition, integration and divestiture related	148			42
(Gains)/losses on securities	(20)			72
IPR&D impairments	-			49
Tax Adjustments
Tax impact on special item adjustments 4	(229)			(1,980)
Tax legislation and other tax related	18			(12)
Adjusted Net Earnings from Continuing Operations, after tax	$6,580			$6,340
Average shares outstanding (Diluted)	2,430.1			2,634.3
Adjusted net earnings per share from Continuing Operations (Diluted)	$2.71			$2.41
Operational adjusted net earnings per share from Continuing Operations (Diluted)	$2.72

Notes:

1. COVID-19Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2. In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of $144 million in the fiscal first quarter of 2024 and $130 million in the fiscal first quarter of 2023 include the termination of partnered and non-partnered program costs and asset impairments.
   In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $27 million in the fiscal first quarter of 2024 primarily includes costs related to market and product exits.
3. European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which will be completed during 2024.
4. The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measure

Adjusted Operational Sales Growth

FIRST QUARTER 2024 ACTUAL vs. 2023 ACTUAL

Segments

		Innovative Medicine		MedTech		Total
WW As Reported		1.1%	4.5%	2.3%
U.S.	8.4%	6.6%	7.8%
International	(6.9)%	2.4%	(3.4)%
WW Currency	(1.4)	(1.8)	(1.6)
U.S.	-	-	-
International	(2.9)	(3.7)	(3.1)
WW Operational		2.5%	6.3%	3.9%
U.S.	8.4%	6.6%	7.8%
International	(4.0)%	6.1%	(0.3)%
All Other Acquisitions and Divestitures (A&D)	0.0	0.2	0.1
U.S.	0.0	0.2	0.1
International	0.0	0.1	0.0
WW Adjusted Operational Ex A&D		2.5%	6.5%	4.0%
U.S.	8.4%	6.8%	7.9%
International	(4.0)%	6.2%	(0.3)%
COVID-19 Vaccine	5.8			3.7
U.S.	0.0			0.0
International	12.3			7.7
WW Adjusted Operational Ex A&D & COVID-19 Vaccine	8.3%	6.5%	7.7%
U.S.	8.4%	6.8%	7.9%
International	8.3%	6.2%	7.4%

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