Contents
Second Quarter 2022
Other Financial Disclosures
Table of Contents
Table 1: Sales by Segment 1
Table 2: Sales by Geographic Area 2
Table 3: Sales of Key Products/Franchises 3 - 8
Table 3a: Supplemental Sales Reconciliation 9
Table 4: Condensed Consolidated Statement of Earnings - QTD 10
Table 5: Condensed Consolidated Statement of Earnings - YTD 11
Table 6: Non-GAAP Adjusted Operational Sales Growth - QTD 12
Table 7: Non-GAAP Adjusted Operational Sales Growth - YTD 13
Table 8: Non-GAAP Adjusted Net Earnings 14
Table 9: Non-GAAP IBT by Segment - QTD 15
Table 10: Non-GAAP IBT by Segment - YTD 16
Table 11: Non-GAAP P&L Reconciliation 17
Table 1 - Sales by Segment
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) SECOND QUARTER SIX MONTHS
Percent Change Percent Change
2022 2021 Total Operations Currency 2022 2021 Total Operations Currency
Sales to customers by
segment of business
Consumer Health (1)
U.S. $ 1,687 1,751 (3.6) % (3.6) - $ 3,244 3,362 (3.5) % (3.5) -
International 2,118 2,103 0.6 7.3 (6.7) 4,147 4,133 0.3 5.7 (5.4)
3,805 3,854 (1.3) 2.3 (3.6) 7,391 7,495 (1.4) 1.6 (3.0)
Pharmaceutical (1)
U.S. 7,159 6,869 4.2 4.2 - 13,791 13,315 3.6 3.6 -
International 6,158 5,611 9.8 22.1 (12.3) 12,395 11,266 10.0 19.4 (9.4)
13,317 12,480 6.7 12.3 (5.6) 26,186 24,581 6.5 10.8 (4.3)
Pharmaceutical excluding COVID-19 Vaccine (1,3)
U.S. 7,114 6,818 4.3 4.3 - 13,671 13,164 3.9 3.9 -
International 5,659 5,498 2.9 13.9 (11.0) 11,514 11,153 3.2 11.9 (8.7)
12,773 12,316 3.7 8.6 (4.9) 25,185 24,317 3.6 7.5 (3.9)
MedTech (2)
U.S. 3,351 3,299 1.6 1.6 - 6,576 6,353 3.5 3.5 -
International 3,547 3,679 (3.6) 5.1 (8.7) 7,293 7,204 1.2 8.0 (6.8)
6,898 6,978 (1.1) 3.4 (4.5) 13,869 13,557 2.3 5.9 (3.6)
U.S. 12,197 11,919 2.3 2.3 - 23,611 23,030 2.5 2.5 -
International 11,823 11,393 3.8 13.9 (10.1) 23,835 22,603 5.5 13.3 (7.8)
Worldwide 24,020 23,312 3.0 8.0 (5.0) 47,446 45,633 4.0 7.8 (3.8)
U.S. 12,152 11,868 2.4 2.4 - 23,491 22,879 2.7 2.7 -
International 11,324 11,280 0.4 9.8 (9.4) 22,954 22,490 2.1 9.5 (7.4)
Worldwide excluding COVID-19 Vaccine (3) $ 23,476 23,148 1.4 % 6.0 (4.6) $ 46,445 45,369 2.4 % 6.1 (3.7)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
(2) Previously referred to as Medical Devices
(3) Refer to supplemental sales reconciliation schedule
Page 1 of 17
Table 2 - Sales by Geographic
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) SECOND QUARTER SIX MONTHS
Percent Change Percent Change
2022 2021 Total Operations Currency 2022 2021 Total Operations Currency
Sales to customers by
geographic area
U.S. $ 12,197 11,919 2.3 % 2.3 - $ 23,611 23,030 2.5 % 2.5 -
Europe 6,085 5,668 7.3 20.7 (13.4) 12,109 11,082 9.3 20.1 (10.8)
Western Hemisphere excluding U.S. 1,536 1,367 12.4 14.9 (2.5) 3,018 2,791 8.1 9.9 (1.8)
Asia-Pacific, Africa 4,202 4,358 (3.6) 4.7 (8.3) 8,708 8,730 (0.2) 5.6 (5.8)
International 11,823 11,393 3.8 13.9 (10.1) 23,835 22,603 5.5 13.3 (7.8)
Worldwide $ 24,020 23,312 3.0 % 8.0 (5.0) $ 47,446 45,633 4.0 % 7.8 (3.8)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Page 2 of 17
Table 3 - Products & Franchises
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER SIX MONTHS
% Change % Change
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
CONSUMER HEALTH SEGMENT (2,3)
OTC
US $ 663 675 -1.8% -1.8% - 0 $ 1,333 1,274 4.6% 4.6% - 0
Intl 818 752 8.8% 15.9% -7.1% 1,609 1,425 12.9% 18.6% -5.7%
WW 1,482 1,426 3.8% 7.5% -3.7% 2,943 2,699 9.0% 12.0% -3.0%
SKIN HEALTH / BEAUTY
US 629 659 -4.5% -4.5% - 0 1,173 1,293 -9.2% -9.2% - 0
Intl 497 511 -2.8% 5.1% -7.9% 965 1,040 -7.2% -1.1% -6.1%
WW 1,126 1,170 -3.7% -0.3% -3.4% 2,138 2,333 -8.3% -5.6% -2.7%
ORAL CARE
US 170 165 3.4% 3.4% - 0 313 328 -4.6% -4.6% - 0
Intl 224 260 -14.1% -8.7% -5.4% 447 514 -13.0% -8.6% -4.4%
WW 394 426 -7.3% -4.0% -3.3% 760 843 -9.7% -7.1% -2.6%
BABY CARE
US 88 97 -9.1% -9.1% - 0 173 193 -10.3% -10.3% - 0
Intl 287 290 -1.0% 3.7% -4.7% 557 583 -4.4% -0.6% -3.8%
WW 375 387 -3.1% 0.5% -3.6% 730 776 -5.9% -3.0% -2.9%
WOMEN'S HEALTH
US 3 3 8.9% 8.9% - 0 7 6 8.1% 8.1% - 0
Intl 228 227 0.1% 7.2% -7.1% 452 446 1.3% 7.7% -6.4%
WW 230 230 0.2% 7.2% -7.0% 458 452 1.4% 7.7% -6.3%
WOUND CARE / OTHER
US 133 153 -12.7% -12.7% - 0 245 268 -8.6% -8.6% - 0
Intl 65 64 1.7% 5.2% -3.5% 117 125 -6.6% -4.5% -2.1%
WW 197 216 -8.4% -7.4% -1.0% 361 393 -8.0% -7.3% -0.7%
TOTAL CONSUMER HEALTH
US 1,687 1,751 -3.6% -3.6% - 0 3,244 3,362 -3.5% -3.5% - 0
Intl 2,118 2,103 0.6% 7.3% -6.7% 4,147 4,133 0.3% 5.7% -5.4%
WW $ 3,805 3,854 -1.3% 2.3% -3.6% $ 7,391 7,495 -1.4% 1.6% -3.0%
See footnotes at end of schedule Page 3 of 17
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER SIX MONTHS
% Change % Change
PHARMACEUTICAL SEGMENT (2,3) 2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
IMMUNOLOGY
US $ 2,853 2,748 3.8% 3.8% - 0 $ 5,354 5,161 3.7% 3.7% - 0
Intl 1,559 1,483 5.1% 16.2% -11.1% 3,176 2,984 6.4% 14.9% -8.5%
WW 4,411 4,231 4.3% 8.1% -3.8% 8,530 8,145 4.7% 7.8% -3.1%
REMICADE
US 391 540 -27.4% -27.4% - 0 749 1,029 -27.1% -27.1% - 0
US Exports (4) 44 93 -53.0% -53.0% - 0 124 150 -17.5% -17.5% - 0
Intl 212 255 -17.2% -12.0% -5.2% 437 487 -10.3% -6.7% -3.6%
WW 647 888 -27.2% -25.6% -1.6% 1,310 1,665 -21.4% -20.3% -1.1%
SIMPONI / SIMPONI ARIA
US 301 290 3.8% 3.8% - 0 588 545 7.9% 7.9% - 0
Intl 266 294 -9.7% 0.3% -10.0% 549 601 -8.6% -0.8% -7.8%
WW 566 584 -3.0% 2.0% -5.0% 1,137 1,146 -0.8% 3.3% -4.1%
STELARA
US 1,731 1,496 15.7% 15.7% - 0 3,110 2,827 10.0% 10.0% - 0
Intl 868 778 11.6% 24.0% -12.4% 1,777 1,595 11.4% 20.8% -9.4%
WW 2,599 2,274 14.3% 18.6% -4.3% 4,887 4,422 10.5% 13.9% -3.4%
TREMFYA
US 382 325 17.7% 17.7% - 0 773 599 29.1% 29.1% - 0
Intl 214 155 38.3% 54.6% -16.3% 413 298 38.6% 51.4% -12.8%
WW 597 479 24.4% 29.7% -5.3% 1,187 897 32.3% 36.6% -4.3%
OTHER IMMUNOLOGY
US 3 5 -50.1% -50.1% - 0 9 12 -24.8% -24.8% - 0
Intl 0 1 * * * 0 3 * * *
WW 3 7 -59.2% -59.2% 0.0% 9 15 -39.0% -39.0% 0.0%
INFECTIOUS DISEASES
US 415 444 -6.4% -6.4% - 0 876 956 -8.3% -8.3% - 0
Intl 901 575 56.8% 79.3% -22.5% 1,737 1,060 63.9% 79.0% -15.1%
WW 1,316 1,018 29.3% 42.0% -12.7% 2,613 2,016 29.6% 37.6% -8.0%
COVID-19 VACCINE
US 45 51 -11.5% -11.5% - 0 120 151 -20.4% -20.4% - 0
Intl 499 113 * * * 881 113 * * *
WW 544 164 * * * 1,001 264 * * *
EDURANT / rilpivirine
US 9 9 -1.7% -1.7% - 0 18 19 -7.4% -7.4% - 0
Intl 215 253 -14.7% -5.4% -9.3% 454 486 -6.5% 2.2% -8.7%
WW 225 262 -14.3% -5.3% -9.0% 473 505 -6.5% 1.9% -8.4%
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US 355 368 -3.4% -3.4% - 0 724 748 -3.2% -3.2% - 0
Intl 110 137 -20.2% -10.4% -9.8% 242 303 -20.3% -13.4% -6.9%
WW 464 505 -7.9% -5.3% -2.6% 965 1,051 -8.1% -6.1% -2.0%
OTHER INFECTIOUS DISEASES
US 6 16 -62.5% -62.5% - 0 14 37 -62.5% -62.5% - 0
Intl 77 71 7.4% 10.9% -3.5% 160 158 1.3% 5.8% -4.5%
WW 83 88 -5.4% -2.6% -2.8% 174 196 -10.9% -7.2% -3.7%
Page 4 of 17
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER SIX MONTHS
% Change % Change
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
NEUROSCIENCE
US 896 842 6.5% 6.5% - 0 1,739 1,613 7.9% 7.9% - 0
Intl 837 963 -13.0% -4.8% -8.2% 1,735 1,906 -8.9% -1.7% -7.2%
WW 1,734 1,804 -3.9% 0.5% -4.4% 3,475 3,519 -1.2% 2.7% -3.9%
CONCERTA / Methylphenidate
US 38 35 9.4% 9.4% - 0 73 82 -11.3% -11.3% - 0
Intl 123 127 -2.2% 8.0% -10.2% 245 250 -1.7% 5.8% -7.5%
WW 161 161 0.3% 8.3% -8.0% 318 332 -4.1% 1.5% -5.6%
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US 691 645 7.3% 7.3% - 0 1,352 1,234 9.6% 9.6% - 0
Intl 362 380 -4.6% 6.3% -10.9% 749 756 -0.8% 8.1% -8.9%
WW 1,054 1,024 2.9% 6.9% -4.0% 2,102 1,989 5.7% 9.0% -3.3%
RISPERDAL CONSTA
US 65 72 -8.9% -8.9% - 0 128 139 -7.7% -7.7% - 0
Intl 60 84 -28.0% -19.0% -9.0% 126 173 -27.1% -19.3% -7.8%
WW 125 155 -19.3% -14.4% -4.9% 254 312 -18.4% -14.1% -4.3%
OTHER NEUROSCIENCE
US 102 91 11.8% 11.8% - 0 186 158 17.6% 17.6% - 0
Intl 292 373 -21.8% -17.2% -4.6% 615 728 -15.5% -10.2% -5.3%
WW 393 464 -15.2% -11.6% -3.6% 800 886 -9.6% -5.2% -4.4%
ONCOLOGY
US 1,679 1,462 14.9% 14.9% - 0 3,261 2,839 14.9% 14.9% - 0
Intl 2,362 2,073 14.0% 26.9% -12.9% 4,731 4,266 10.9% 20.8% -9.9%
WW 4,042 3,535 14.3% 21.9% -7.6% 7,992 7,105 12.5% 18.4% -5.9%
DARZALEX
US 1,021 770 32.6% 32.6% - 0 1,974 1,461 35.1% 35.1% - 0
Intl 965 663 45.5% 61.9% -16.4% 1,868 1,337 39.7% 52.2% -12.5%
WW 1,986 1,433 38.6% 46.1% -7.5% 3,842 2,798 37.3% 43.3% -6.0%
ERLEADA
US 233 193 20.6% 20.6% - 0 439 364 20.4% 20.4% - 0
Intl 218 109 * * * 412 199 * * *
WW 450 302 49.5% 56.9% -7.4% 850 563 51.1% 57.2% -6.1%
IMBRUVICA
US 349 454 -23.1% -23.1% - 0 719 898 -19.9% -19.9% - 0
Intl 620 662 -6.3% 3.6% -9.9% 1,288 1,342 -4.0% 4.1% -8.1%
WW 970 1,116 -13.1% -7.2% -5.9% 2,008 2,241 -10.4% -5.6% -4.8%
ZYTIGA / abiraterone acetate
US 19 21 -12.2% -12.2% - 0 38 71 -47.0% -47.0% - 0
Intl 486 542 -10.2% 1.5% -11.7% 1,006 1,130 -11.0% -2.3% -8.7%
WW 505 563 -10.3% 0.9% -11.2% 1,044 1,201 -13.1% -4.9% -8.2%
OTHER ONCOLOGY
US 57 23 * * - 0 91 44 * * - 0
Intl 72 97 -25.7% -17.3% -8.4% 156 258 -39.4% -34.3% -5.1%
WW 130 120 7.5% 14.4% -6.9% 248 302 -18.0% -13.7% -4.3%
Page 5 of 17
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER SIX MONTHS
% Change % Change
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
PULMONARY HYPERTENSION
US 560 595 -5.8% -5.8% - 0 1,132 1,168 -3.1% -3.1% - 0
Intl 284 275 2.8% 15.3% -12.5% 563 563 -0.1% 9.6% -9.7%
WW 843 870 -3.1% 0.9% -4.0% 1,695 1,731 -2.1% 1.1% -3.2%
OPSUMIT
US 265 290 -8.7% -8.7% - 0 538 562 -4.3% -4.3% - 0
Intl 173 172 0.5% 13.1% -12.6% 343 351 -2.2% 7.4% -9.6%
WW 438 463 -5.3% -0.6% -4.7% 881 913 -3.5% 0.2% -3.7%
UPTRAVI
US 272 268 1.4% 1.4% - 0 541 527 2.6% 2.6% - 0
Intl 56 45 26.2% 38.3% -12.1% 112 91 23.5% 33.4% -9.9%
WW 328 313 4.9% 6.6% -1.7% 653 618 5.7% 7.1% -1.4%
OTHER PULMONARY HYPERTENSION
US 23 36 -36.2% -36.2% - 0 53 78 -32.3% -32.3% - 0
Intl 55 59 -8.1% 4.8% -12.9% 108 122 -11.7% -2.0% -9.7%
WW 78 95 -18.7% -10.7% -8.0% 161 200 -19.8% -13.9% -5.9%
CARDIOVASCULAR / METABOLISM / OTHER
US 757 780 -3.0% -3.0% - 0 1,429 1,579 -9.5% -9.5% - 0
Intl 215 241 -10.9% -3.4% -7.5% 453 486 -6.9% -1.2% -5.7%
WW 972 1,021 -4.8% -3.1% -1.7% 1,882 2,065 -8.9% -7.5% -1.4%
XARELTO
US 609 569 7.1% 7.1% - 0 1,117 1,158 -3.5% -3.5% - 0
Intl - - - 0 - 0 - 0 - - - 0 - 0 - 0
WW 609 569 7.1% 7.1% - 0 1,117 1,158 -3.5% -3.5% - 0
INVOKANA / INVOKAMET
US 55 96 -42.9% -42.9% - 0 115 183 -37.1% -37.1% - 0
Intl 65 64 2.4% 10.2% -7.8% 133 127 4.9% 10.6% -5.7%
WW 120 160 -24.9% -21.8% -3.1% 248 310 -19.9% -17.6% -2.3%
OTHER
US 93 116 -19.5% -19.5% - 0 197 238 -17.2% -17.2% - 0
Intl 150 178 -15.6% -8.3% -7.3% 320 360 -11.1% -5.4% -5.7%
WW 243 293 -17.2% -12.7% -4.5% 517 598 -13.5% -10.1% -3.4%
TOTAL PHARMACEUTICAL
US 7,159 6,869 4.2% 4.2% - 0 13,791 13,315 3.6% 3.6% - 0
Intl 6,158 5,611 9.8% 22.1% -12.3% 12,395 11,266 10.0% 19.4% -9.4%
WW $ 13,317 12,480 6.7% 12.3% -5.6% $ 26,186 24,581 6.5% 10.8% -4.3%
See footnotes at end of schedule Page 6 of 17
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER SIX MONTHS
% Change % Change
MEDTECH SEGMENT (2,3,5) 2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
INTERVENTIONAL SOLUTIONS
US $ 525 475 10.5% 10.5% - 0 1,019 909 12.1% 12.1% - 0
Intl 525 572 -8.1% 1.0% -9.1% 1,123 1,086 3.4% 10.2% -6.8%
WW 1,049 1,046 0.3% 5.3% -5.0% 2,141 1,995 7.4% 11.1% -3.7%
ORTHOPAEDICS
US 1,338 1,323 1.1% 1.1% - 0 2,627 2,572 2.1% 2.1% - 0
Intl 820 904 -9.3% -0.6% -8.7% 1,719 1,768 -2.8% 4.2% -7.0%
WW 2,157 2,227 -3.1% 0.5% -3.6% 4,345 4,340 0.1% 3.0% -2.9%
HIPS
US 240 233 3.4% 3.4% - 0 465 442 5.2% 5.2% - 0
Intl 148 159 -6.6% 1.7% -8.3% 312 305 2.4% 9.0% -6.6%
WW 388 391 -0.7% 2.7% -3.4% 777 747 4.1% 6.8% -2.7%
KNEES
US 216 210 2.9% 2.9% - 0 417 395 5.6% 5.6% - 0
Intl 133 140 -4.6% 3.9% -8.5% 271 272 -0.4% 6.4% -6.8%
WW 349 350 -0.1% 3.3% -3.4% 688 667 3.1% 5.9% -2.8%
TRAUMA
US 464 447 3.9% 3.9% - 0 939 897 4.7% 4.7% - 0
Intl 232 263 -11.8% -1.7% -10.1% 505 545 -7.4% 0.3% -7.7%
WW 696 710 -1.9% 1.8% -3.7% 1,444 1,443 0.1% 3.0% -2.9%
SPINE, SPORTS & OTHER
US 418 434 -3.7% -3.7% - 0 805 838 -3.9% -3.9% - 0
Intl 306 343 -10.6% -2.5% -8.1% 630 646 -2.4% 4.2% -6.6%
WW 724 777 -6.8% -3.2% -3.6% 1,436 1,484 -3.2% -0.4% -2.8%
Page 7 of 17
REPORTED SALES vs. PRIOR PERIOD ($MM) REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER SIX MONTHS
% Change % Change
2022 2021 Reported Operational (1) Currency 2022 2021 Reported Operational (1) Currency
SURGERY
US 992 1,035 -4.1% -4.1% - 0 1,913 1,933 -1.0% -1.0% - 0
Intl 1,458 1,487 -2.0% 5.9% -7.9% 2,971 2,961 0.3% 6.2% -5.9%
WW 2,450 2,522 -2.8% 1.8% -4.6% 4,884 4,894 -0.2% 3.4% -3.6%
ADVANCED
US 454 459 -1.1% -1.1% - 0 871 864 0.8% 0.8% - 0
Intl 702 708 -0.9% 6.6% -7.5% 1,431 1,421 0.7% 6.0% -5.3%
WW 1,156 1,168 -1.0% 3.6% -4.6% 2,302 2,286 0.7% 4.0% -3.3%
GENERAL
US 538 576 -6.4% -6.4% - 0 1,042 1,069 -2.5% -2.5% - 0
Intl 756 779 -3.0% 5.3% -8.3% 1,540 1,540 0.0% 6.5% -6.5%
WW 1,294 1,354 -4.5% 0.3% -4.8% 2,582 2,608 -1.0% 2.8% -3.8%
VISION
US 496 467 6.2% 6.2% - 0 1,017 939 8.3% 8.3% - 0
Intl 745 716 4.0% 13.9% -9.9% 1,481 1,389 6.6% 15.1% -8.5%
WW 1,241 1,183 4.9% 10.9% -6.0% 2,498 2,328 7.3% 12.4% -5.1%
CONTACT LENSES / OTHER
US 374 352 6.6% 6.6% - 0 774 723 7.2% 7.2% - 0
Intl 519 517 0.4% 11.0% -10.6% 1,030 1,003 2.7% 11.9% -9.2%
WW 894 868 2.9% 9.2% -6.3% 1,804 1,725 4.5% 9.9% -5.4%
SURGICAL
US 122 115 5.1% 5.1% - 0 243 216 12.1% 12.1% - 0
Intl 225 199 13.6% 21.5% -7.9% 451 386 17.0% 23.5% -6.5%
WW 347 314 10.5% 15.5% -5.0% 694 602 15.2% 19.4% -4.2%
TOTAL MEDTECH
US 3,351 3,299 1.6% 1.6% - 0 6,576 6,353 3.5% 3.5% - 0
Intl 3,547 3,679 -3.6% 5.1% -8.7% 7,293 7,204 1.2% 8.0% -6.8%
WW $ 6,898 6,978 -1.1% 3.4% -4.5% $ 13,869 13,557 2.3% 5.9% -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) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Reported as U.S. sales
(5) Previously referred to as Medical Devices Page 8 of 17
Table 3a - Supplemental Sales
Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)
SECOND QUARTER SIX MONTHS
Percent Change Percent Change
2022 2021 Total Operations Currency 2022 2021 Total Operations Currency
Pharmaceutical
U.S. $ 7,159 6,869 4.2 % 4.2 - $ 13,791 13,315 3.6 % 3.6 -
International 6,158 5,611 9.8 22.1 (12.3) 12,395 11,266 10.0 19.4 (9.4)
Worldwide 13,317 12,480 6.7 12.3 (5.6) 26,186 24,581 6.5 10.8 (4.3)
COVID-19 Vaccine
U.S. 45 51 (11.5) (11.5) - 120 151 (20.4) (20.4) -
International 499 113 * * * 881 113 * - * - *
Worldwide 544 164 * * * 1,001 264 * - * - *
Pharmaceutical excluding COVID-19 Vaccine
U.S. 7,114 6,818 4.3 4.3 - 13,671 13,164 3.9 3.9 -
International 5,659 5,498 2.9 13.9 (11.0) 11,514 11,153 3.2 11.9 (8.7)
Worldwide 12,773 12,316 3.7 8.6 (4.9) 25,185 24,317 3.6 7.5 (3.9)
Worldwide
U.S. 12,197 11,919 2.3 2.3 - 23,611 23,030 2.5 2.5 -
International 11,823 11,393 3.8 13.9 (10.1) 23,835 22,603 5.5 13.3 (7.8)
Worldwide 24,020 23,312 3.0 8.0 (5.0) 47,446 45,633 4.0 7.8 (3.8)
COVID-19 Vaccine
U.S. 45 51 (11.5) (11.5) - 120 151 (20.4) (20.4) -
International 499 113 * * * 881 113 * * *
Worldwide 544 164 * * * 1,001 264 * * *
Worldwide
U.S. 12,152 11,868 2.4 2.4 - 23,491 22,879 2.7 2.7 -
International 11,324 11,280 0.4 9.8 (9.4) 22,954 22,490 2.1 9.5 (7.4)
Worldwide excluding COVID-19 Vaccine $ 23,476 23,148 1.4 % 6.0 (4.6) $ 46,445 45,369 2.4 % 6.1 (3.7)
Note: Columns and rows within tables may not add due to rounding
* Percentage greater than 100% or not meaningful
Page 9 of 17
Table 4 - QTD Earnings
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) SECOND QUARTER
2022 2021 Percent
Percent Percent Increase
Amount to Sales Amount to Sales (Decrease)
Sales to customers $ 24,020 100.0 $ 23,312 100.0 3.0
Cost of products sold 7,919 33.0 7,587 32.5 4.4
Gross Profit 16,101 67.0 15,725 67.5 2.4
Selling, marketing and administrative expenses 6,226 25.9 6,073 26.1 2.5
Research and development expense 3,703 15.4 3,394 14.6 9.1
Interest (income) expense, net (26) (0.1) 28 0.1
Other (income) expense, net 273 1.1 (488) (2.1)
Restructuring 85 0.4 56 0.2
Earnings before provision for taxes on income 5,840 24.3 6,662 28.6 (12.3)
Provision for taxes on income 1,026 4.3 384 1.7 167.2
Net earnings $ 4,814 20.0 $ 6,278 26.9 (23.3)
Net earnings per share (Diluted) $ 1.80 $ 2.35 (23.4)
Average shares outstanding (Diluted) 2,667.9 2,671.6
Effective tax rate 17.6 % 5.8 %
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income $ 8,171 34.0 $ 7,776 33.4 5.1
Net earnings $ 6,912 28.8 $ 6,625 28.4 4.3
Net earnings per share (Diluted) $ 2.59 $ 2.48 4.4
Effective tax rate 15.4 % 14.8 %
(1) See Reconciliation of Non-GAAP Financial Measures.
Page 10 of 17
Table 5 - YTD Earnings
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) SIX MONTHS
2022 2021 Percent
Percent Percent Increase
Amount to Sales Amount to Sales (Decrease)
Sales to customers $ 47,446 100.0 $ 45,633 100.0 4.0
Cost of products sold 15,517 32.7 14,650 32.1 5.9
Gross Profit 31,929 67.3 30,983 67.9 3.1
Selling, marketing and administrative expenses 12,164 25.6 11,505 25.2 5.7
Research and development expense 7,165 15.1 6,572 14.4 9.0
In-process research and development 610 1.3 -0 -0
Interest (income) expense, net (38) (0.1) 76 0.2
Other (income) expense, net 171 0.4 (1,370) (3.0)
Restructuring 155 0.3 109 0.2
Earnings before provision for taxes on income 11,702 24.7 14,091 30.9 (17.0)
Provision for taxes on income 1,739 3.7 1,616 3.6 7.6
Net earnings $ 9,963 21.0 $ 12,475 27.3 (20.1)
Net earnings per share (Diluted) $ 3.73 $ 4.67 (20.1)
Average shares outstanding (Diluted) 2,669.2 2,674.0
Effective tax rate 14.9 % 11.5 %
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income $ 16,389 34.5 $ 16,067 35.2 2.0
Net earnings $ 14,041 29.6 $ 13,549 29.7 3.6
Net earnings per share (Diluted) $ 5.26 $ 5.07 3.7
Effective tax rate 14.3 % 15.7 %
(1) See Reconciliation of Non-GAAP Financial Measures.
Page 11 of 17
Table 6 - QTD Adj Op Sales
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
SECOND QUARTER 2022 ACTUAL vs. 2021 ACTUAL
Segments
Consumer Health Pharmaceutical MedTech Total
WW As Reported (1.3)% 6.7% (1.1)% 3.0%
U.S. (3.6)% 4.2% 1.6% 2.3%
International 0.6% 9.8% (3.6)% 3.8%
WW Currency (3.6) (5.6) (4.5) (5.0)
U.S. - - - -
International (6.7) (12.3) (8.7) (10.1)
WW Operational 2.3% 12.3% 3.4% 8.0%
U.S. (3.6)% 4.2% 1.6% 2.3%
International 7.3% 22.1% 5.1% 13.9%
All Other Acquisitions and Divestitures 0.6 0.1 0.0 0.1
U.S. 0.2 0.2 (0.2) 0.1
International 0.8 0.1 0.2 0.3
WW Adjusted Operational 2.9% 12.4% 3.4% 8.1%
U.S. (3.4)% 4.4% 1.4% 2.4%
International 8.1% 22.2% 5.3% 14.2%
Note: Percentages are based on actual, non-rounded figures and may not sum
Page 12 of 17
Table 7 - YTD Adj Op Sales
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth
SIX MONTHS 2022 ACTUAL vs. 2021 ACTUAL
Segments
Consumer Health Pharmaceutical MedTech Total
WW As Reported (1.4)% 6.5% 2.3% 4.0%
U.S. (3.5)% 3.6% 3.5% 2.5%
International 0.3% 10.0% 1.2% 5.5%
WW Currency (3.0) (4.3) (3.6) (3.8)
U.S. - - - -
International (5.4) (9.4) (6.8) (7.8)
WW Operational 1.6% 10.8% 5.9% 7.8%
U.S. (3.5)% 3.6% 3.5% 2.5%
International 5.7% 19.4% 8.0% 13.3%
Skin Health / Beauty
Dr. Ci Labo - Sedona 0.5 0.1
U.S. 0.0 0.0
International 0.9 0.2
All Other Acquisitions and Divestitures 0.1 0.1 0.1 0.1
U.S. 0.2 0.1 (0.1) 0.1
International 0.1 0.0 0.2 0.1
WW Adjusted Operational 2.2% 10.9% 6.0% 8.0%
U.S. (3.3)% 3.7% 3.4% 2.6%
International 6.7% 19.4% 8.2% 13.6%
Note: Percentages are based on actual, non-rounded figures and may not sum
Page 13 of 17
Table 8 - Adj Earnings
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Second Quarter Six Months Ended
(Dollars in Millions Except Per Share Data) 2022 2021 2022 2021
Net Earnings, after tax- as reported $4,814 $6,278 $9,963 $12,475
Pre-tax Adjustments
Intangible Asset Amortization expense 1,095 1,202 2,203 2,417
Litigation related 385 (23) 385 (23)
IPR&D - - 610 -
Restructuring related 128 108 200 212
Acquisition, integration and divestiture related ¹ - 14 - (524)
(Gains)/losses on securities 109 (243) 520 (208)
Medical Device Regulation 2 70 56 130 102
COVID-19 Vaccine related costs 3 276 - 276 -
Consumer Health separation costs 268 - 370 -
Other - - (7) -
Tax Adjustments
Tax impact on special item adjustments 4 (313) (135) (706) (248)
Consumer Health separation tax related costs 2 - 98 -
Tax legislation and other tax related 78 (632) (1) (654)
Adjusted Net Earnings, after tax $6,912 $6,625 $14,041 $13,549
Average shares outstanding (Diluted) 2,667.9 2,671.6 2,669.2 2,674.0
Adjusted net earnings per share (Diluted) $2.59 $2.48 $5.26 $5.07
Operational adjusted net earnings per share (Diluted) $2.75 $5.50
Notes:
1 Acquisition, integration and divestiture related for the six months of 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S.
2 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 is expected to be completed by the end of 2023.
3 COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all customer contractual requirements.
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.
Page 14 of 17
Table 9 - QTD IBT by Segment
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q2 QTD - Income Before Tax by Segment*
Dollars in Millions
Consumer Health Separation Costs
Consumer Health1 Pharmaceutical1 MedTech Unallocated Worldwide Total
2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
Reported Income Before Tax by Segment $ 784 866 4,420 4,294 1,141 1,746 (237) (244) (268) - 0 5,840 6,662
% to Sales 20.6% 22.5% 33.2% 34.4% 16.5% 25.0% -1.0% -1.0% -1.1% 0.0% 24.3% 28.6%
Intangible asset amortization expense 100 105 736 842 259 255 - 0 - 0 - 0 - 0 1,095 1,202
In-process research and development - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Litigation related 78 122 36 (81) 271 (64) - 0 - 0 - 0 - 0 385 (23)
Loss/(gain) on securities - 0 (18) 102 (151) 7 (74) - 0 - 0 - 0 - 0 109 (243)
Restructuring related 25 27 23 17 80 64 - 0 - 0 - 0 - 0 128 108
Acquisition, integration and divestiture related - 0 - 0 - 0 - 0 - 0 14 - 0 - 0 - 0 - 0 - 0 14
Medical Device Regulation - 0 - 0 - 0 - 0 70 56 - 0 - 0 - 0 - 0 70 56
COVID-19 Vaccine related costs - 0 - 0 276 - 0 - 0 - 0 - 0 - 0 - 0 - 0 276 - 0
Consumer Health separation costs - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 268 - 0 268 - 0
Other - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Adjusted Income Before Tax by Segment $ 987 1,102 5,593 4,921 1,828 1,997 (237) (244) - 0 - 0 8,171 7,776
% to Sales 25.9% 28.6% 42.0% 39.4% 26.5% 28.6% -1.0% -1.0% 0.0% 0.0% 34.0% 33.4%
1 Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
*Estimated as of 7/19/2022
Page 15 of 17
Table 10 - YTD IBT by Segment
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q2 YTD - Income Before Tax by Segment*
Dollars in Millions
Consumer Health Separation Costs
Consumer Health1 Pharmaceutical1 MedTech Unallocated Worldwide Total
2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021
Reported Income Before Tax by Segment $ 1,470 1,708 8,344 9,463 2,618 3,375 (360) (455) (370) - 0 11,702 14,091
% to Sales 19.9% 22.8% 31.9% 38.5% 18.9% 24.9% -0.8% -1.0% -0.8% 0.0% 24.7% 30.9%
Intangible asset amortization expense 194 211 1,496 1,698 513 508 - 0 - 0 - 0 - 0 2,203 2,417
In-process research and development - 0 - 0 610 - 0 - 0 - 0 - 0 - 0 - 0 - 0 610 - 0
Litigation related 78 122 36 (81) 271 (64) - 0 - 0 - 0 - 0 385 (23)
Loss/(gain) on securities 0 (20) 496 (114) 24 (74) - 0 - 0 - 0 - 0 520 (208)
Restructuring related 39 55 9 37 152 120 - 0 - 0 - 0 - 0 200 212
Acquisition, integration and divestiture related - 0 - 0 - 0 (570) - 0 46 - 0 - 0 - 0 - 0 - 0 (524)
Medical Device Regulation - 0 - 0 - 0 - 0 130 102 - 0 - 0 - 0 - 0 130 102
COVID-19 Vaccine related costs - 0 - 0 276 - 0 - 0 - 0 - 0 - 0 - 0 - 0 276 - 0
Consumer Health separation costs - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 370 - 0 370 - 0
Other - 0 - 0 - 0 - 0 - 0 - 0 (7) - 0 - 0 - 0 (7) - 0
Adjusted Income Before Tax by Segment $ 1,781 2,076 11,267 10,433 3,708 4,013 (367) (455) - 0 - 0 16,389 16,067
% to Sales 24.1% 27.7% 43.0% 42.4% 26.7% 29.6% -0.8% -1.0% 0.0% 0.0% 34.5% 35.2%
1 Prior year income before tax has been reclassified as Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
*Estimated as of 7/19/2022
Page 16 of 17
Table 11 - P&L Reconciliation
Johnson & Johnson and Subsidiaries
GAAP to Non-GAAP Reconciliation
$ in Millions
Quarter to Date
Consumer Health separation tax related costs
Second Quarter In-process research and development Acquisition, integration and divestiture related (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Second Quarter
July 3, 2022 GAAP Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other July 3, 2022 Non-GAAP
Cost of products sold $ 7,919 (1,083) (17) (25) (194) - 0 - 0 - 0 - 0 6,600
Selling, marketing and admin expenses 6,226 (6) 6,220
Research and development expense 3,703 - 0 (39) (110) 3,554
Other (Income) / Expense 273 (12) (385) (26) - 0 (109) 28 (268) - 0 - 0 (499)
In-process research and development - 0 - 0 - 0
Restructuring 85 (85) - 0
Provision for taxes on income 1,026 170 (29) - 0 25 - 0 25 13 65 44 (2) (78) - 0 1,259
Net Earnings 4,814 925 414 - 0 103 - 0 84 57 211 224 2 78 - 0 6,912
Diluted Net Earnings per Share $ 1.50 0.38 0.1 0.08 0.02 (0.10) 0.1 0.1 0.1 (0.07) (0.03) 1.88
Consumer Health separation tax related costs
Second Quarter In-process research and development Acquisition, integration and divestiture related (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Second Quarter
July 4, 2021 GAAP Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other July 4, 2021 Non-GAAP
Cost of products sold $ 7,587 (1,202) (20) (20) 6,345
Selling, marketing and admin expenses 6,073 (6) 6,067
Research and development expense 3,394 - 0 (30) 3,364
Other (Income) / Expense (488) - 0 23 (32) (14) 243 - 0 - 0 - 0 - 0 (268)
In-process research and development - 0 - 0 - 0
Restructuring 56 (56) - 0
Provision for taxes on income 384 163 (1) - 0 17 3 (57) 10 - 0 - 0 - 0 632 - 0 1,151
Net Earnings 6,278 1,039 (22) - 0 91 11 (186) 46 - 0 - 0 - 0 (632) - 0 6,625
Year to Date
Consumer Health separation tax related costs
Six Months In-process research and development Acquisition, integration and divestiture related (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Six Months
July 3, 2022 GAAP Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other July 3, 2022 Non-GAAP
Cost of products sold $ 15,517 (2,191) (33) (47) (194) 13,052
Selling, marketing and admin expenses 12,164 (12) 12,152
Research and development expense 7,165 - 0 (71) (110) 6,984
Other (Income) / Expense 171 (12) (385) (12) - 0 (520) 28 (370) - 0 7 (1,093)
In-process research and development 610 (610) - 0
Restructuring 155 (155) - 0
Provision for taxes on income 1,739 338 (82) 138 37 - 0 121 24 65 67 (98) 1 (2) 2,348
Net Earnings 9,963 1,865 467 472 163 - 0 399 106 211 303 98 (1) (5) 14,041
- 0
Diluted Net Earnings per Share $ 5.63 1.43 1.50 0.26 0.19 0.10 (0.17) 1.50 1.50 1.50 (0.21) (0.05) 8.68
Consumer Health separation tax related costs
Six Months In-process research and development Acquisition, integration and divestiture related (1) (Loss)/gain on securities COVID-19 Vaccine Related Costs Consumer Health separation costs Tax legislation and other tax related Six Months
July 4, 2021 GAAP Intangible asset amortization Litigation related Restructuring related Medical Device Regulation Other July 4, 2021 Non-GAAP
Cost of products sold $ 14,650 (2,417) (47) (37) 12,149
Selling, marketing and admin expenses 11,505 (11) 11,494
Research and development expense 6,572 - 0 (54) 6,518
Other (Income) / Expense (1,370) - 0 23 (56) 524 208 - 0 - 0 - 0 - 0 (671)
In-process research and development - 0 - 0 - 0
Restructuring 109 (109) - 0
Provision for taxes on income 1,616 340 (1) - 0 37 (98) (49) 19 - 0 - 0 - 0 654 - 0 2,518
Net Earnings 12,475 2,077 (22) - 0 175 (426) (159) 83 - 0 - 0 - 0 (654) - 0 13,549
(1) 2021 primarily includes gains on the divestitures of two Pharmaceutical brands outside of the United States.
Page 17 of 17

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Johnson & Johnson published this content on 19 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2022 10:53:08 UTC.