Johnson & Johnson Reports Q4 and Full-Year 2022 Results

 
  • 2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
  •  
  • 2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*
  •  
  • 2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
  •  
  • 2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*
  •  
  • Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*
  •  

Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. "Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value."

 

   OVERALL FINANCIAL RESULTS   

 
                                                                                        
  

  Q4  

 
 

 

 
 

  Full Year  

 
  ($ in Millions, except EPS)   

  2022  

 
 

  2021  

 
 

  % Change  

 
 

 

 
 

  2022  

 

 

  2021  

 
 

  % Change  

 
Reported Sales  

$23,706

 
 

$24,804

 
 

(4.4)%

 
 

 

 
 

$94,943

 
 

$93,775

 
 

1.3%

 
Net Earnings  

$3,520

 
 

$4,736

 
 

(25.7)%

 
 

 

 
 

$17,941

 
 

$20,878

 
 

(14.1)%

 
EPS (diluted)  

$1.33

 
 

$1.77

 
 

(24.9)%

 
 

 

 
 

$6.73

 
 

$7.81

 
 

(13.8)%

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  Q4  

 
 

 

 
 

  Full Year  

 
  Non-GAAP* ($ in Millions, except EPS)   

  2022  

 
 

  2021  

 
 

  % Change  

 
 

 

 
 

  2022  

 
 

  2021  

 
 

  % Change  

 
Operational Sales 1,2  

 

 
 

 

 
 

0.9%

 
 

 

 
 

 

 
 

 

 
 

6.1%

 
Adjusted Operational Sales 1,3  

 

 
 

 

 
 

0.8%

 
 

 

 
 

 

 
 

 

 
 

6.2%

 
Adjusted Net Earnings 1,4  

$6,218

 
 

$5,678

 
 

9.5%

 
 

 

 
 

$27,038

 
 

$26,195

 
 

3.2%

 
Adjusted EPS (diluted) 1,4  

$2.35

 
 

$2.13

 
 

10.3%

 
 

 

 
 

$10.15

 
 

$9.80

 
 

3.6%

 
 

  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
Note: values may have been rounded

 

   REGIONAL SALES RESULTS   

 
                                                                                   
  Q4     % Change  
  ($ in Millions)   

  2022  

 
 

  2021  

 
 

  Reported  

 
 

  Operational 1,2  

 
 

  Currency  

 
 

  Adjusted
Operational 1,3
 

 
U.S.  

$12,516

 
 

$12,163

 
 

2.9%

 
 

2.9

 
 

-

 
 

2.7

 
International  

11,190

 
 

12,641

 
 

(11.5)

 
 

(1.1)

 
 

(10.4)

 
 

(1.0)

 
Worldwide  

$23,706

 
 

$24,804

 
 

(4.4)%

 
 

0.9

 
 

(5.3)

 
 

0.8

 
       
       
       
  Full Year     % Change  
  ($ in Millions)   

  2022  

 
 

  2021  

 
 

  Reported  

 
 

  Operational 1,2  

 
 

  Currency  

 
 

  Adjusted
Operational 1,3
 

 
U.S.  

$48,580

 
 

$47,156

 
 

3.0%

 
 

3.0

 
 

-

 
 

3.0

 
International  

46,363

 
 

46,619

 
 

(0.6)%

 
 

9.1

 
 

(9.7)

 
 

9.3

 
Worldwide  

$94,943

 
 

$93,775

 
 

1.3%

 
 

6.1

 
 

(4.8)

 
 

6.2

 
 

  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   

 
                                                                                          
  Q4   

 

 
 

  % Change  

 
  ($ in Millions)   

  2022  

 
 

  2021  

 
 

  Reported  

 
 

  Operational 1,2  

 
 

  Currency  

 
 

  Adjusted
Operational 1,3
 

 
Consumer Health 4  

$ 3,767

 
 

$ 3,728

 
 

1.0%

 
 

6.4

 
 

(5.4)

 
 

6.4

 
Pharmaceutical 4  

13,163

 
 

14,217

 
 

(7.4)

 
 

(2.5)

 
 

(4.9)

 
 

(2.3)

 
MedTech  

6,776

 
 

6,859

 
 

(1.2)

 
 

4.9

 
 

(6.1)

 
 

4.4

 
Worldwide  

$ 23,706

 
 

$ 24,804

 
 

(4.4)%

 
 

0.9

 
 

(5.3)

 
 

0.8

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  Full Year   

 

 
 

  % Change  

 
  ($ in Millions)   

  2022  

 
 

  2021  

 
 

  Reported  

 
 

  Operational 1,2  

 
 

  Currency  

 
 

  Adjusted
Operational 1,3
 

 
Consumer Health  

$ 14,953

 
 

$ 15,035

 
 

(0.5)%

 
 

3.6

 
 

(4.1)

 
 

3.9

 
Pharmaceutical  

52,563

 
 

51,680

 
 

1.7

 
 

6.7

 
 

(5.0)

 
 

6.8

 
MedTech  

27,427

 
 

27,060

 
 

1.4

 
 

6.2

 
 

(4.8)

 
 

6.1

 
Worldwide  

$ 94,943

 
 

$ 93,775

 
 

1.3%

 
 

6.1

 
 

(4.8)

 
 

6.2

 
 

  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 Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
Note: Values may have been rounded

 

   FULL YEAR 2022 SEGMENT COMMENTARY:
 
Adjusted operational sales* reflected below excludes the net impact of acquisitions and divestitures and translational currency.

 

   Consumer Health
 
Consumer Health worldwide adjusted operational sales increased 3.9%* predominately driven by over-the-counter (OTC) products. Major contributors to growth in OTC were TYLENOL and MOTRIN analgesics, as well as upper respiratory products and digestive health products in the international markets. Additionally, Skin Health/Beauty adjusted operational growth was primarily driven by NEUTROGENA outside the U.S. Growth was partially offset by Oral Care in the international markets.

 

   Pharmaceutical
 
Pharmaceutical worldwide adjusted operational sales grew 6.8%*, driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. This growth was partially offset by declines in sales of REMICADE (infliximab), a biologic approved for the treatment of several immune-mediated inflammatory diseases, IMBRUVICA (ibrutinib), an oral, once daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, and ZYTIGA (abiratone acetate), an oral, once daily medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer.

 

   MedTech
 
MedTech worldwide adjusted operational sales grew 6.1%*, driven primarily by electrophysiology products in Interventional Solutions, contact lenses in Vision, and wound closure products in General Surgery.

 

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

 
                         
 

Regulatory

 
 

DePuy Synthes Receives FDA Clearance for TELIGEN System

 
 

  Press Release  

 
 

U.S. FDA Approves TECVAYLI (teclistamab-cqyv), the First Bispecific T-cell Engager Antibody for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma

 
 

  Press Release  

 
 

Janssen Submits Biologics License Application to U.S. FDA for Talquetamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma

 
 

  Press Release  

 
 

Data Release

 
 

New TREMFYA (guselkumab) Data Shows an Overall Clinical Response Rate of Approximately 80 Percent in a Phase 2b Induction Study of Adults with Moderately to Severely Active Ulcerative Colitis

 
 

  Press Release  

 
 

Janssen to Highlight Latest Scientific Advances in Hematologic Diseases at ASH 2022 with Clinical and Real-World Data Across Innovative Pipeline and Distinguished Portfolio

 
 

  Press Release  

 
 

Late-Breaking Data from Pivotal Phase 3 PRECISION Study Demonstrates Significant and Sustained Effect of Aprocitentan on Lowering Blood Pressure for Patients with Difficult-to-Control Hypertension

 
 

  Press Release  

 
 

New TREMFYA (guselkumab) Post-Hoc Analysis Reveals Active Psoriatic Arthritis Patients With Early Efficacy Had Meaningful Long-Term Improvement in Health-Related Quality of Life

 
 

  Press Release  

 
 

New TREMFYA (guselkumab) Post-Hoc Analysis Reveals Early Efficacy Predicted Longer-Term Efficacy And Sustained Achievement Among A Diverse Active Psoriatic Arthritis Patient Population

 
 

  Press Release  

 
 

CERENOVUS Reveals Positive Outcomes with Thrombectomy in Global Registry Studying Stroke-Inducing Blood Clots

 
 

  Press Release  

 
 

Other

 
 

Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board

 
 

  Press Release  

 
 

Johnson & Johnson Completes Acquisition of Abiomed

 
 

  Press Release  

 
 

   FULL-YEAR 2023 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)  

 
 

  January 2023  

 
 

Adjusted Operational Sales 1,2,5

 

Change vs. Prior Year / Mid-point

 
 

3.5% – 4.5% / 4.0%

 
 

Operational Sales 2,5 / Mid-point 2,5

 

Change vs. Prior Year / Mid-point

 
 

$96.9B – $97.9B / $97.4B

 

4.5% – 5.5% / 5.0%

 
 

Estimated Reported Sales 3,5 / Mid-point 3,5

 

Change vs. Prior Year / Mid-point

 
 

$96.9B – $97.9B / $97.4B

 

4.5% – 5.5% / 5.0%

 
 

 

 
 

 

 
 

Adjusted Operational EPS (Diluted) 2,4 / Mid-point 2,4

 

Change vs. Prior Year / Mid-point

 
 

$10.40 – $10.60 / $10.50

 

2.5% – 4.5% / 3.5%

 
 

Adjusted EPS (Diluted) 3,4 / Mid-point 3,4

 

Change vs. Prior Year / Mid-point

 
 

$10.45 – $10.65 / $10.55

 

3.0% – 5.0% / 4.0%

 
 

  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 2023 = $1.08 (Illustrative purposes only)
4 Non-GAAP financial 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 Investors section of the company's website at events-and-presentations .

 

   ABOUT JOHNSON & JOHNSON:
 
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

 

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

 

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

 

   NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
 
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy, and the anticipated separation of the Company's Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the Company's ability to satisfy the necessary conditions to consummate the separation of the Company's Consumer Health business on a timely basis or at all; the Company's ability to successfully separate the Company's Consumer Health business and realize the anticipated benefits from the separation; the New Consumer Health Company's ability to succeed as a standalone publicly traded company; and risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company's ability to execute business continuity plans, as a result of the COVID-19 pandemic. 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 January 2, 2022, 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.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
  Johnson & Johnson and Subsidiaries            
  Supplementary Sales Data            
                    
(Unaudited; Dollars in Millions)  

  FOURTH QUARTER  

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
  Sales to customers by                     
  segment of business                     
                    
Consumer Health (1)                    
U.S.  

  $  

 
 

  1,696  

 
  

  1,529  

 
  

10.9

 
 

 

 
 

%

 
 

10.9

 
 

 

 
  

-

 
 

 

 
  

  $  

 
 

  6,599  

 
  

  6,516  

 
  

1.3

 
 

 

 
 

%

 
 

1.3

 
  

-

 
 

 

 
International  

 

 
 

  2,071  

 
  

  2,199  

 
  

(5.8

 
 

)

 
  

3.2

 
 

 

 
  

(9.0

 
 

)

 
  

 

 
 

  8,354  

 
  

  8,519  

 
  

(1.9

 
 

)

 
  

5.3

 
  

(7.2

 
 

)

 
  

 

 
 

  3,767  

 
  

  3,728  

 
  

1.0

 
 

 

 
  

6.4

 
 

 

 
  

(5.4

 
 

)

 
  

 

 
 

  14,953  

 
  

  15,035  

 
  

(0.5

 
 

)

 
  

3.6

 
  

(4.1

 
 

)

 
                    
Pharmaceutical (1)                    
U.S.  

 

 
 

  7,375  

 
  

  7,418  

 
  

(0.6

 
 

)

 
  

(0.6

 
 

)

 
  

-

 
 

 

 
  

 

 
 

  28,604  

 
  

  27,954  

 
  

2.3

 
 

 

 
  

2.3

 
  

-

 
 

 

 
International  

 

 
 

  5,788  

 
  

  6,799  

 
  

(14.9

 
 

)

 
  

(4.5

 
 

)

 
  

(10.4

 
 

)

 
  

 

 
 

  23,959  

 
  

  23,726  

 
  

1.0

 
 

 

 
  

11.9

 
  

(10.9

 
 

)

 
  

 

 
 

  13,163  

 
  

  14,217  

 
  

(7.4

 
 

)

 
  

(2.5

 
 

)

 
  

(4.9

 
 

)

 
  

 

 
 

  52,563  

 
  

  51,680  

 
  

1.7

 
 

 

 
  

6.7

 
  

(5.0

 
 

)

 
                    
Pharmaceutical excluding COVID-19 Vaccine (1,3)                    
U.S.  

 

 
 

  7,375  

 
  

  7,205  

 
  

2.4

 
 

 

 
  

2.4

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  28,484  

 
  

  27,320  

 
  

4.3

 
 

 

 
  

4.3

 
  

-

 
 

 

 
International  

 

 
 

  5,099  

 
  

  5,394  

 
  

(5.5

 
 

)

 
  

6.0

 
 

 

 
  

(11.5

 
 

)

 
  

 

 
 

  21,900  

 
  

  21,975  

 
  

(0.3

 
 

)

 
  

10.3

 
  

(10.6

 
 

)

 
  

 

 
 

  12,474  

 
  

  12,599  

 
  

(1.0

 
 

)

 
  

3.9

 
 

 

 
  

(4.9

 
 

)

 
  

 

 
 

  50,384  

 
  

  49,295  

 
  

2.2

 
 

 

 
  

6.9

 
  

(4.7

 
 

)

 
                    
MedTech (2)                    
U.S.  

 

 
 

  3,445  

 
  

  3,216  

 
  

7.1

 
 

 

 
  

7.1

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  13,377  

 
  

  12,686  

 
  

5.4

 
 

 

 
  

5.4

 
  

-

 
 

 

 
International  

 

 
 

  3,331  

 
  

  3,643  

 
  

(8.6

 
 

)

 
  

2.9

 
 

 

 
  

(11.5

 
 

)

 
  

 

 
 

  14,050  

 
  

  14,374  

 
  

(2.3

 
 

)

 
  

6.9

 
  

(9.2

 
 

)

 
  

 

 
 

  6,776  

 
  

  6,859  

 
  

(1.2

 
 

)

 
  

4.9

 
 

 

 
  

(6.1

 
 

)

 
  

 

 
 

  27,427  

 
  

  27,060  

 
  

1.4

 
 

 

 
  

6.2

 
  

(4.8

 
 

)

 
                    
U.S.  

 

 
 

  12,516  

 
  

  12,163  

 
  

2.9

 
 

 

 
  

2.9

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  48,580  

 
  

  47,156  

 
  

3.0

 
 

 

 
  

3.0

 
  

-

 
 

 

 
International  

 

 
 

  11,190  

 
  

  12,641  

 
  

(11.5

 
 

)

 
  

(1.1

 
 

)

 
  

(10.4

 
 

)

 
  

 

 
 

  46,363  

 
  

  46,619  

 
  

(0.6

 
 

)

 
  

9.1

 
  

(9.7

 
 

)

 
Worldwide  

 

 
 

  23,706  

 
  

  24,804  

 
  

(4.4

 
 

)

 
  

0.9

 
 

 

 
  

(5.3

 
 

)

 
  

 

 
 

  94,943  

 
  

  93,775  

 
  

1.3

 
 

 

 
  

6.1

 
  

(4.8

 
 

)

 
                    
U.S.  

 

 
 

  12,516  

 
  

  11,950  

 
  

4.7

 
 

 

 
  

4.7

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  48,460  

 
  

  46,522  

 
  

4.2

 
 

 

 
  

4.2

 
  

-

 
 

 

 
International  

 

 
 

  10,501  

 
  

  11,236  

 
  

(6.5

 
 

)

 
  

4.4

 
 

 

 
  

(10.9

 
 

)

 
  

 

 
 

  44,304  

 
  

  44,868  

 
  

(1.3

 
 

)

 
  

8.2

 
  

(9.5

 
 

)

 
Worldwide excluding COVID-19 Vaccine (3)  

  $  

 
 

  23,017  

 
  

  23,186  

 
  

(0.7

 
 

)

 
 

%

 
 

4.6

 
 

 

 
  

(5.3

 
 

)

 
  

  $  

 
 

  92,764  

 
  

  91,390  

 
  

1.5

 
 

 

 
 

%

 
 

6.2

 
  

(4.7

 
 

)

 
                    
  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.
 
                                                                                                                                                                                                                                                                                                                                                                         
  Johnson & Johnson and Subsidiaries            
  Supplementary Sales Data            
                    
(Unaudited; Dollars in Millions)  

  FOURTH QUARTER  

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
  Sales to customers by                     
  geographic area                     
                    
U.S.  

  $  

 
 

  12,516  

 
  

  12,163  

 
  

2.9

 
 

 

 
 

%

 
 

2.9

 
 

 

 
  

-

 
 

 

 
  

  $  

 
 

  48,580  

 
  

  47,156  

 
  

3.0

 
 

 

 
 

%

 
 

3.0

 
  

-

 
 

 

 
                    
Europe  

 

 
 

  5,816  

 
  

  6,925  

 
  

(16.0

 
 

)

 
  

(6.3

 
 

)

 
  

(9.7

 
 

)

 
  

 

 
 

  23,449  

 
  

  23,594  

 
  

(0.6

 
 

)

 
  

11.0

 
  

(11.6

 
 

)

 
Western Hemisphere excluding U.S.  

 

 
 

  1,545  

 
  

  1,459  

 
  

5.9

 
 

 

 
  

11.8

 
 

 

 
  

(5.9

 
 

)

 
  

 

 
 

  6,125  

 
  

  5,750  

 
  

6.5

 
 

 

 
  

10.2

 
  

(3.7

 
 

)

 
Asia-Pacific, Africa  

 

 
 

  3,829  

 
  

  4,257  

 
  

(10.0

 
 

)

 
  

3.1

 
 

 

 
  

(13.1

 
 

)

 
  

 

 
 

  16,789  

 
  

  17,275  

 
  

(2.8

 
 

)

 
  

6.2

 
  

(9.0

 
 

)

 
International  

 

 
 

  11,190  

 
  

  12,641  

 
  

(11.5

 
 

)

 
  

(1.1

 
 

)

 
  

(10.4

 
 

)

 
  

 

 
 

  46,363  

 
  

  46,619  

 
  

(0.6

 
 

)

 
  

9.1

 
  

(9.7

 
 

)

 
                    
Worldwide  

  $  

 
 

  23,706  

 
  

  24,804  

 
  

(4.4

 
 

)

 
 

%

 
 

0.9

 
 

 

 
  

(5.3

 
 

)

 
  

  $  

 
 

  94,943  

 
  

  93,775  

 
  

1.3

 
 

 

 
 

%

 
 

6.1

 
  

(4.8

 
 

)

 
                    
  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  
          
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Percent

 
  

 

 
 

 

 
 

  Percent  

 
 

 

 
 

 

 
 

 

 
 

  Percent  

 
 

 

 
 

Increase

 
  

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

(Decrease)

 
  Sales to customers   

  $  

 
 

  23,706  

 
 

 

 
  

  100.0  

 
 

 

 
  

  $  

 
 

  24,804  

 
  

  100.0  

 
  

(4.4

 
 

)

 
  Cost of products sold   

 

 
 

  7,765  

 
 

 

 
  

  32.8  

 
 

 

 
  

 

 
 

  7,955  

 
  

  32.1  

 
  

(2.4

 
 

)

 
  Gross Profit   

 

 
 

  15,941  

 
 

 

 
  

  67.2  

 
 

 

 
  

 

 
 

  16,849  

 
  

  67.9  

 
  

(5.4

 
 

)

 
  Selling, marketing and administrative expenses   

 

 
 

  6,512  

 
 

 

 
  

  27.4  

 
 

 

 
  

 

 
 

  7,154  

 
  

  28.9  

 
  

(9.0

 
 

)

 
  Research and development expense   

 

 
 

  3,841  

 
 

 

 
  

  16.2  

 
 

 

 
  

 

 
 

  4,720  

 
  

  19.0  

 
  

(18.6

 
 

)

 
  In-process research and development   

 

 
 

  173  

 
 

 

 
  

  0.7  

 
 

 

 
  

 

 
 

  0  

 
  

  0.0  

 
  
  Interest (income) expense, net   

 

 
 

  (77  

 
 

  )  

 
  

  (0.3  

 
 

  )  

 
  

 

 
 

  47  

 
  

  0.2  

 
  
  Other (income) expense, net   

 

 
 

  1,207  

 
 

 

 
  

  5.1  

 
 

 

 
  

 

 
 

  9  

 
  

  0.0  

 
  
  Restructuring   

 

 
 

  84  

 
 

 

 
  

  0.4  

 
 

 

 
  

 

 
 

  83  

 
  

  0.3  

 
  
  Earnings before provision for taxes on income   

 

 
 

  4,201  

 
 

 

 
  

  17.7  

 
 

 

 
  

 

 
 

  4,836  

 
  

  19.5  

 
  

(13.1

 
 

)

 
  Provision for taxes on income   

 

 
 

  681  

 
 

 

 
  

  2.9  

 
 

 

 
  

 

 
 

  100  

 
  

  0.4  

 
  

581.0

 
 

 

 
  Net earnings   

  $  

 
 

  3,520  

 
 

 

 
  

  14.8  

 
 

 

 
  

  $  

 
 

  4,736  

 
  

  19.1  

 
  

(25.7

 
 

)

 
          
  Net earnings per share (Diluted)   

  $  

 
 

  1.33  

 
 

 

 
    

  $  

 
 

  1.77  

 
    

(24.9

 
 

)

 
          
  Average shares outstanding (Diluted)   

 

 
 

  2,650.1  

 
 

 

 
    

 

 
 

  2,670.2  

 
    
          
  Effective tax rate   

 

 
 

  16.2  

 
 

 

 
 

  %  

 
   

 

 
 

  2.1  

 
 

  %  

 
   
          
  Adjusted earnings before provision for taxes and net earnings (1)           
  Earnings before provision for taxes on income   

  $  

 
 

  7,418  

 
 

 

 
  

  31.3  

 
 

 

 
  

  $  

 
 

  6,339  

 
  

  25.6  

 
  

17.0

 
 

 

 
  Net earnings   

  $  

 
 

  6,218  

 
 

 

 
  

  26.2  

 
 

 

 
  

  $  

 
 

  5,678  

 
  

  22.9  

 
  

9.5

 
 

 

 
  Net earnings per share (Diluted)   

  $  

 
 

  2.35  

 
 

 

 
    

  $  

 
 

  2.13  

 
    

10.3

 
 

 

 
  Effective tax rate   

 

 
 

  16.2  

 
 

 

 
 

  %  

 
   

 

 
 

  10.4  

 
 

  %  

 
   
          
  (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  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Percent

 
  

 

 
 

 

 
 

  Percent  

 
 

 

 
 

 

 
 

 

 
 

  Percent  

 
 

 

 
 

Increase

 
  

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

  Amount  

 
 

 

 
 

  to Sales  

 
 

 

 
 

(Decrease)

 
  Sales to customers   

  $  

 
 

  94,943  

 
 

 

 
  

  100.0  

 
 

 

 
  

  $  

 
 

  93,775  

 
  

  100.0  

 
  

1.3

 
 

 

 
  Cost of products sold   

 

 
 

  31,089  

 
 

 

 
  

  32.7  

 
 

 

 
  

 

 
 

  29,855  

 
  

  31.8  

 
  

4.1

 
 

 

 
  Gross Profit   

 

 
 

  63,854  

 
 

 

 
  

  67.3  

 
 

 

 
  

 

 
 

  63,920  

 
  

  68.2  

 
  

(0.1

 
 

)

 
  Selling, marketing and administrative expenses   

 

 
 

  24,765  

 
 

 

 
  

  26.1  

 
 

 

 
  

 

 
 

  24,659  

 
  

  26.3  

 
  

0.4

 
 

 

 
  Research and development expense   

 

 
 

  14,603  

 
 

 

 
  

  15.4  

 
 

 

 
  

 

 
 

  14,714  

 
  

  15.7  

 
  

(0.8

 
 

)

 
  In-process research and development   

 

 
 

  783  

 
 

 

 
  

  0.8  

 
 

 

 
  

 

 
 

  900  

 
  

  1.0  

 
  
  Interest (income) expense, net   

 

 
 

  (214  

 
 

  )  

 
  

  (0.2  

 
 

  )  

 
  

 

 
 

  130  

 
  

  0.1  

 
  
  Other (income) expense, net   

 

 
 

  1,871  

 
 

 

 
  

  2.0  

 
 

 

 
  

 

 
 

  489  

 
  

  0.5  

 
  
  Restructuring   

 

 
 

  321  

 
 

 

 
  

  0.3  

 
 

 

 
  

 

 
 

  252  

 
  

  0.3  

 
  
  Earnings before provision for taxes on income   

 

 
 

  21,725  

 
 

 

 
  

  22.9  

 
 

 

 
  

 

 
 

  22,776  

 
  

  24.3  

 
  

(4.6

 
 

)

 
  Provision for taxes on income   

 

 
 

  3,784  

 
 

 

 
  

  4.0  

 
 

 

 
  

 

 
 

  1,898  

 
  

  2.0  

 
  

99.4

 
 

 

 
  Net earnings   

  $  

 
 

  17,941  

 
 

 

 
  

  18.9  

 
 

 

 
  

  $  

 
 

  20,878  

 
  

  22.3  

 
  

(14.1

 
 

)

 
          
  Net earnings per share (Diluted)   

  $  

 
 

  6.73  

 
 

 

 
    

  $  

 
 

  7.81  

 
    

(13.8

 
 

)

 
          
  Average shares outstanding (Diluted)   

 

 
 

  2,663.9  

 
 

 

 
    

 

 
 

  2,674.0  

 
    
          
  Effective tax rate   

 

 
 

  17.4  

 
 

 

 
 

  %  

 
   

 

 
 

  8.3  

 
 

  %  

 
   
          
  Adjusted earnings before provision for taxes and net earnings (1)           
  Earnings before provision for taxes on income   

  $  

 
 

  31,880  

 
 

 

 
  

  33.6  

 
 

 

 
  

  $  

 
 

  30,464  

 
  

  32.5  

 
  

4.6

 
 

 

 
  Net earnings   

  $  

 
 

  27,038  

 
 

 

 
  

  28.5  

 
 

 

 
  

  $  

 
 

  26,195  

 
  

  27.9  

 
  

3.2

 
 

 

 
  Net earnings per share (Diluted)   

  $  

 
 

  10.15  

 
 

 

 
    

  $  

 
 

  9.80  

 
    

3.6

 
 

 

 
  Effective tax rate   

 

 
 

  15.2  

 
 

 

 
 

  %  

 
   

 

 
 

  14.0  

 
 

  %  

 
   
          
  (1) See Reconciliation of Non-GAAP Financial Measures.          
 
                                                                                                                                                                                                                                                                                                                                                          
  Johnson & Johnson and Subsidiaries  
  Reconciliation of Non-GAAP Financial Measures  
         
   

  Fourth Quarter  

 
 

 

 
 

  Twelve Months Ended  

 
  (Dollars in Millions Except Per Share Data)  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
  Net Earnings, after tax- as reported  

  $3,520  

 
 

 

 
  

  $4,736  

 
 

 

 
  

  $17,941  

 
 

 

 
  

  $20,878  

 
 

 

 
         
  Pre-tax Adjustments        
  Intangible Asset Amortization expense  

1,061

 
 

 

 
  

1,121

 
 

 

 
  

4,305

 
 

 

 
  

4,697

 
 

 

 
  Litigation related  

262

 
 

 

 
  

274

 
 

 

 
  

866

 
 

 

 
  

2,328

 
 

 

 
  IPR&D  

173

 
 

 

 
  

-

 
 

 

 
  

783

 
 

 

 
  

900

 
 

 

 
  Restructuring related  

140

 
 

 

 
  

140

 
 

 

 
  

463

 
 

 

 
  

473

 
 

 

 
  Acquisition, integration and divestiture related ¹  

196

 
 

 

 
  

26

 
 

 

 
  

196

 
 

 

 
  

(478

 
 

)

 
  (Gains)/losses on securities  

6

 
 

 

 
  

(198

 
 

)

 
  

690

 
 

 

 
  

(533

 
 

)

 
  Medical Device Regulation 2  

88

 
 

 

 
  

73

 
 

 

 
  

296

 
 

 

 
  

234

 
 

 

 
  COVID-19 Vaccine related costs 3  

821

 
 

 

 
  

-

 
 

 

 
  

1,474

 
 

 

 
  

-

 
 

 

 
  Consumer Health separation costs  

470

 
 

 

 
  

67

 
 

 

 
  

1,089

 
 

 

 
  

67

 
 

 

 
  Other  

-

 
 

 

 
  

-

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
         
  Tax Adjustments        
  Tax impact on special item adjustments 4  

(507

 
 

)

 
  

(184

 
 

)

 
  

(1,592

 
 

)

 
  

(1,281

 
 

)

 
  Consumer Health separation tax related costs  

35

 
 

 

 
  

-

 
 

 

 
  

494

 
 

 

 
  

-

 
 

 

 
  Tax legislation and other tax related  

(47

 
 

)

 
  

(377

 
 

)

 
  

40

 
 

 

 
  

(1,090

 
 

)

 
  Adjusted Net Earnings, after tax  

  $6,218  

 
 

 

 
  

  $5,678  

 
 

 

 
  

  $27,038  

 
 

 

 
  

  $26,195  

 
 

 

 
  Average shares outstanding (Diluted)  

2,650.1

 
 

 

 
  

2,670.2

 
 

 

 
  

2,663.9

 
 

 

 
  

2,674.0

 
 

 

 
  Adjusted net earnings per share (Diluted)  

  $2.35  

 
 

 

 
  

  $2.13  

 
 

 

 
  

  $10.15  

 
 

 

 
  

  $9.80  

 
 

 

 
  Operational adjusted net earnings per share (Diluted)  

  $2.46  

 
 

 

 
    

  $10.70  

 
 

 

 
  
         
   Notes:         
 

  1

 
Acquisition, integration and divestiture related for 2022 primarily includes costs related to the Abiomed acquisition. Acquisition, integration and divestiture related for 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 during 2024.
         
 

  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 remaining 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.
 
                                                                                                                                                                                                                                                                                                                                               
  Johnson & Johnson and Subsidiaries  
  Reconciliation of Non-GAAP Financial Measure  
         
   Adjusted Operational Sales Growth   
  FOURTH QUARTER 2022 ACTUAL vs. 2021 ACTUAL  
 
  Segments  
         
    Consumer Health     Pharmaceutical     MedTech     Total  
         
  WW As Reported    

  1.0  

 
 

  %  

 
  

  (7.4  

 
 

  )%  

 
  

  (1.2  

 
 

  )%  

 
  

  (4.4  

 
 

  )%  

 
U.S.   

10.9

 
 

%

 
  

(0.6

 
 

)%

 
  

7.1

 
 

%

 
  

2.9

 
 

%

 
International   

(5.8

 
 

)%

 
  

(14.9

 
 

)%

 
  

(8.6

 
 

)%

 
  

(11.5

 
 

)%

 
         
  WW Currency    

  (5.4  

 
 

  )  

 
  

  (4.9  

 
 

  )  

 
  

  (6.1  

 
 

  )  

 
  

  (5.3  

 
 

  )  

 
U.S.   

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
International   

(9.0

 
 

)

 
  

(10.4

 
 

)

 
  

(11.5

 
 

)

 
  

(10.4

 
 

)

 
         
  WW Operational    

  6.4  

 
 

  %  

 
  

  (2.5  

 
 

  )%  

 
  

  4.9  

 
 

  %  

 
  

  0.9  

 
 

  %  

 
U.S.   

10.9

 
 

%

 
  

(0.6

 
 

)%

 
  

7.1

 
 

%

 
  

2.9

 
 

%

 
International   

3.2

 
 

%

 
  

(4.5

 
 

)%

 
  

2.9

 
 

%

 
  

(1.1

 
 

)%

 
         
  Interventional Solutions          
  Abiomed        

  (0.5  

 
 

  )  

 
  

  (0.1  

 
 

  )  

 
U.S.       

(1.0

 
 

)

 
  

(0.3

 
 

)

 
International       

0.0

 
 

 

 
  

0.0

 
 

 

 
         
  All Other Acquisitions and Divestitures    

  0.0  

 
 

 

 
  

  0.2  

 
 

 

 
  

  0.0  

 
 

 

 
  

  0.1  

 
 

 

 
U.S.   

0.1

 
 

 

 
  

0.2

 
 

 

 
  

(0.2

 
 

)

 
  

0.1

 
 

 

 
International   

0.0

 
 

 

 
  

0.1

 
 

 

 
  

0.1

 
 

 

 
  

0.1

 
 

 

 
         
  WW Adjusted Operational    

  6.4  

 
 

  %  

 
  

  (2.3  

 
 

  )%  

 
  

  4.4  

 
 

  %  

 
  

  0.8  

 
 

  %  

 
U.S.   

11.0

 
 

%

 
  

(0.4

 
 

)%

 
  

5.9

 
 

%

 
  

2.7

 
 

%

 
International   

3.2

 
 

%

 
  

(4.4

 
 

)%

 
  

3.0

 
 

%

 
  

(1.0

 
 

)%

 
         
  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 2022 ACTUAL vs. 2021 ACTUAL  
 
  Segments  
         
    Consumer Health     Pharmaceutical     MedTech     Total  
         
  WW As Reported    

  (0.5  

 
 

  )%  

 
  

  1.7  

 
 

  %  

 
  

  1.4  

 
 

  %  

 
  

  1.3  

 
 

  %  

 
U.S.   

1.3

 
 

%

 
  

2.3

 
 

%

 
  

5.4

 
 

%

 
  

3.0

 
 

%

 
International   

(1.9

 
 

)%

 
  

1.0

 
 

%

 
  

(2.3

 
 

)%

 
  

(0.6

 
 

)%

 
         
  WW Currency    

  (4.1  

 
 

  )  

 
  

  (5.0  

 
 

  )  

 
  

  (4.8  

 
 

  )  

 
  

  (4.8  

 
 

  )  

 
U.S.   

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
  

  -  

 
 

 

 
International   

(7.2

 
 

)

 
  

(10.9

 
 

)

 
  

(9.2

 
 

)

 
  

(9.7

 
 

)

 
         
  WW Operational    

  3.6  

 
 

  %  

 
  

  6.7  

 
 

  %  

 
  

  6.2  

 
 

  %  

 
  

  6.1  

 
 

  %  

 
U.S.   

1.3

 
 

%

 
  

2.3

 
 

%

 
  

5.4

 
 

%

 
  

3.0

 
 

%

 
International   

5.3

 
 

%

 
  

11.9

 
 

%

 
  

6.9

 
 

%

 
  

9.1

 
 

%

 
         
  All Other Acquisitions and Divestitures    

  0.3  

 
 

 

 
  

  0.1  

 
 

 

 
  

  (0.1  

 
 

  )  

 
  

  0.1  

 
 

 

 
U.S.   

0.2

 
 

 

 
  

0.2

 
 

 

 
  

(0.4

 
 

)

 
  

0.0

 
 

 

 
International   

0.5

 
 

 

 
  

0.1

 
 

 

 
  

0.1

 
 

 

 
  

0.2

 
 

 

 
         
  WW Adjusted Operational    

  3.9  

 
 

  %  

 
  

  6.8  

 
 

  %  

 
  

  6.1  

 
 

  %  

 
  

  6.2  

 
 

  %  

 
U.S.   

1.5

 
 

%

 
  

2.5

 
 

%

 
  

5.0

 
 

%

 
  

3.0

 
 

%

 
International   

5.8

 
 

%

 
  

12.0

 
 

%

 
  

7.0

 
 

%

 
  

9.3

 
 

%

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

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
   

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
  

  FOURTH QUARTER  

 
 

 

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
  

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational (1)   

 
 

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational (1)   

 
 

   Currency   

 
   CONSUMER HEALTH SEGMENT    (2,3)                         
  OTC                        
US   

  $  

 
 

  754  

 
  

  633  

 
 

18.9

 
 

%

 
 

18.9

 
 

%

 
 

-

 
 

 

 
   

  $  

 
 

  2,782  

 
  

  2,594  

 
 

7.3

 
 

%

 
 

7.3

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  815  

 
  

  811  

 
 

0.6

 
 

%

 
 

9.6

 
 

%

 
 

-9.0

 
 

%

 
   

 

 
 

  3,249  

 
  

  3,034  

 
 

7.1

 
 

%

 
 

14.5

 
 

%

 
 

-7.4

 
 

%

 
WW   

 

 
 

  1,569  

 
  

  1,444  

 
 

8.6

 
 

%

 
 

13.7

 
 

%

 
 

-5.1

 
 

%

 
   

 

 
 

  6,031  

 
  

  5,627  

 
 

7.2

 
 

%

 
 

11.2

 
 

%

 
 

-4.0

 
 

%

 
  SKIN HEALTH / BEAUTY                        
US   

 

 
 

  573  

 
  

  538  

 
 

6.5

 
 

%

 
 

6.5

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  2,337  

 
  

  2,400  

 
 

-2.6

 
 

%

 
 

-2.6

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  515  

 
  

  546  

 
 

-5.6

 
 

%

 
 

4.4

 
 

%

 
 

-10.0

 
 

%

 
   

 

 
 

  2,015  

 
  

  2,141  

 
 

-5.9

 
 

%

 
 

2.2

 
 

%

 
 

-8.1

 
 

%

 
WW   

 

 
 

  1,088  

 
  

  1,084  

 
 

0.4

 
 

%

 
 

5.4

 
 

%

 
 

-5.0

 
 

%

 
   

 

 
 

  4,352  

 
  

  4,541  

 
 

-4.2

 
 

%

 
 

-0.4

 
 

%

 
 

-3.8

 
 

%

 
  ORAL CARE                        
US   

 

 
 

  164  

 
  

  159  

 
 

3.3

 
 

%

 
 

3.3

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  635  

 
  

  637  

 
 

-0.3

 
 

%

 
 

-0.3

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  207  

 
  

  246  

 
 

-16.0

 
 

%

 
 

-8.1

 
 

%

 
 

-7.9

 
 

%

 
   

 

 
 

  871  

 
  

  1,008  

 
 

-13.6

 
 

%

 
 

-7.4

 
 

%

 
 

-6.2

 
 

%

 
WW   

 

 
 

  370  

 
  

  405  

 
 

-8.4

 
 

%

 
 

-3.7

 
 

%

 
 

-4.7

 
 

%

 
   

 

 
 

  1,505  

 
  

  1,645  

 
 

-8.5

 
 

%

 
 

-4.7

 
 

%

 
 

-3.8

 
 

%

 
  BABY CARE                        
US   

 

 
 

  93  

 
  

  90  

 
 

3.4

 
 

%

 
 

3.4

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  357  

 
  

  378  

 
 

-5.5

 
 

%

 
 

-5.5

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  264  

 
  

  309  

 
 

-14.6

 
 

%

 
 

-7.4

 
 

%

 
 

-7.2

 
 

%

 
   

 

 
 

  1,104  

 
  

  1,188  

 
 

-7.1

 
 

%

 
 

-1.4

 
 

%

 
 

-5.7

 
 

%

 
WW   

 

 
 

  356  

 
  

  399  

 
 

-10.6

 
 

%

 
 

-5.0

 
 

%

 
 

-5.6

 
 

%

 
   

 

 
 

  1,461  

 
  

  1,566  

 
 

-6.7

 
 

%

 
 

-2.4

 
 

%

 
 

-4.3

 
 

%

 
  WOMEN'S HEALTH                        
US   

 

 
 

  4  

 
  

  4  

 
 

15.6

 
 

%

 
 

15.6

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  13  

 
  

  13  

 
 

1.7

 
 

%

 
 

1.7

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  217  

 
  

  230  

 
 

-5.7

 
 

%

 
 

4.4

 
 

%

 
 

-10.1

 
 

%

 
   

 

 
 

  891  

 
  

  905  

 
 

-1.5

 
 

%

 
 

7.1

 
 

%

 
 

-8.6

 
 

%

 
WW   

 

 
 

  220  

 
  

  233  

 
 

-5.5

 
 

%

 
 

4.6

 
 

%

 
 

-10.1

 
 

%

 
   

 

 
 

  904  

 
  

  917  

 
 

-1.5

 
 

%

 
 

7.0

 
 

%

 
 

-8.5

 
 

%

 
  WOUND CARE / OTHER                        
US   

 

 
 

  109  

 
  

  106  

 
 

3.3

 
 

%

 
 

3.3

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  475  

 
  

  495  

 
 

-4.0

 
 

%

 
 

-4.0

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  54  

 
  

  57  

 
 

-7.5

 
 

%

 
 

2.9

 
 

%

 
 

-10.4

 
 

%

 
   

 

 
 

  224  

 
  

  243  

 
 

-8.0

 
 

%

 
 

-3.4

 
 

%

 
 

-4.6

 
 

%

 
WW   

 

 
 

  163  

 
  

  164  

 
 

-0.5

 
 

%

 
 

3.1

 
 

%

 
 

-3.6

 
 

%

 
   

 

 
 

  700  

 
  

  739  

 
 

-5.3

 
 

%

 
 

-3.8

 
 

%

 
 

-1.5

 
 

%

 
                       
   TOTAL CONSUMER HEALTH                         
  US    

 

 
 

  1,696  

 
  

  1,529  

 
 

  10.9  

 
 

  %  

 
 

  10.9  

 
 

  %  

 
 

  -  

 
 

 

 
   

 

 
 

  6,599  

 
  

  6,516  

 
 

  1.3  

 
 

  %  

 
 

  1.3  

 
 

  %  

 
 

  -  

 
 

 

 
  Intl    

 

 
 

  2,071  

 
  

  2,199  

 
 

  -5.8  

 
 

  %  

 
 

  3.2  

 
 

  %  

 
 

  -9.0  

 
 

  %  

 
   

 

 
 

  8,354  

 
  

  8,519  

 
 

  -1.9  

 
 

  %  

 
 

  5.3  

 
 

  %  

 
 

  -7.2  

 
 

  %  

 
  WW    

  $  

 
 

  3,767  

 
  

  3,728  

 
 

  1.0  

 
 

  %  

 
 

  6.4  

 
 

  %  

 
 

  -5.4  

 
 

  %  

 
   

  $  

 
 

  14,953  

 
  

  15,035  

 
 

  -0.5  

 
 

  %  

 
 

  3.6  

 
 

  %  

 
 

  -4.1  

 
 

  %  

 
                       
                       
See footnotes at end of schedule                       
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
  

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
 

 

 
 

 

 
 

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
  

  FOURTH QUARTER  

 
 

 

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
   PHARMACEUTICAL SEGMENT    (2,3)    

 

 
 

   2022   

 
  

   2021   

 
 

   Reported   

 
 

   Operational (1)   

 
 

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
  

   2021   

 
 

   Reported   

 
 

   Operational (1)   

 
 

   Currency   

 
                       
   IMMUNOLOGY                         
US   

  $  

 
 

  2,805  

 
  

  2,912  

 
 

-3.6

 
 

%

 
 

-3.6

 
 

%

 
 

-

 
 

 

 
   

  $  

 
 

  11,036  

 
  

  10,843  

 
 

1.8

 
 

%

 
 

1.8

 
 

%

 
 

-

 
 
Intl   

 

 
 

  1,312  

 
  

  1,443  

 
 

-9.1

 
 

%

 
 

2.1

 
 

%

 
 

-11.2

 
 

%

 
   

 

 
 

  5,899  

 
  

  5,907  

 
 

-0.1

 
 

%

 
 

10.3

 
 

%

 
 

-10.4

 
%
WW   

 

 
 

  4,118  

 
  

  4,355  

 
 

-5.4

 
 

%

 
 

-1.8

 
 

%

 
 

-3.6

 
 

%

 
   

 

 
 

  16,935  

 
  

  16,750  

 
 

1.1

 
 

%

 
 

4.8

 
 

%

 
 

-3.7

 
%
  REMICADE                        

 

 
US   

 

 
 

  318  

 
  

  511  

 
 

-37.7

 
 

%

 
 

-37.7

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,417  

 
  

  2,019  

 
 

-29.8

 
 

%

 
 

-29.8

 
 

%

 
 

-

 
 
US Exports (4)   

 

 
 

  41  

 
  

  39  

 
 

5.1

 
 

%

 
 

5.1

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  204  

 
  

  236  

 
 

-13.6

 
 

%

 
 

-13.6

 
 

%

 
 

-

 
 
Intl   

 

 
 

  116  

 
  

  214  

 
 

-45.9

 
 

%

 
 

-41.3

 
 

%

 
 

-4.6

 
 

%

 
   

 

 
 

  722  

 
  

  935  

 
 

-22.8

 
 

%

 
 

-18.7

 
 

%

 
 

-4.1

 
%
WW   

 

 
 

  475  

 
  

  764  

 
 

-37.8

 
 

%

 
 

-36.5

 
 

%

 
 

-1.3

 
 

%

 
   

 

 
 

  2,343  

 
  

  3,190  

 
 

-26.6

 
 

%

 
 

-25.3

 
 

%

 
 

-1.3

 
%
  SIMPONI / SIMPONI ARIA                        

 

 
US   

 

 
 

  280  

 
  

  287  

 
 

-2.2

 
 

%

 
 

-2.2

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,166  

 
  

  1,127  

 
 

3.5

 
 

%

 
 

3.5

 
 

%

 
 

-

 
 
Intl   

 

 
 

  220  

 
  

  271  

 
 

-18.6

 
 

%

 
 

-7.4

 
 

%

 
 

-11.2

 
 

%

 
   

 

 
 

  1,017  

 
  

  1,148  

 
 

-11.4

 
 

%

 
 

-1.4

 
 

%

 
 

-10.0

 
%
WW   

 

 
 

  501  

 
  

  559  

 
 

-10.2

 
 

%

 
 

-4.7

 
 

%

 
 

-5.5

 
 

%

 
   

 

 
 

  2,184  

 
  

  2,276  

 
 

-4.0

 
 

%

 
 

1.0

 
 

%

 
 

-5.0

 
%
  STELARA                        

 

 
US   

 

 
 

  1,621  

 
  

  1,542  

 
 

5.2

 
 

%

 
 

5.2

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  6,388  

 
  

  5,938  

 
 

7.6

 
 

%

 
 

7.6

 
 

%

 
 

-

 
 
Intl   

 

 
 

  764  

 
  

  792  

 
 

-3.5

 
 

%

 
 

8.1

 
 

%

 
 

-11.6

 
 

%

 
   

 

 
 

  3,335  

 
  

  3,196  

 
 

4.4

 
 

%

 
 

15.7

 
 

%

 
 

-11.3

 
%
WW   

 

 
 

  2,386  

 
  

  2,334  

 
 

2.3

 
 

%

 
 

6.2

 
 

%

 
 

-3.9

 
 

%

 
   

 

 
 

  9,723  

 
  

  9,134  

 
 

6.5

 
 

%

 
 

10.4

 
 

%

 
 

-3.9

 
%
  TREMFYA                        

 

 
US   

 

 
 

  541  

 
  

  528  

 
 

2.5

 
 

%

 
 

2.5

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,844  

 
  

  1,503  

 
 

22.7

 
 

%

 
 

22.7

 
 

%

 
 

-

 
 
Intl   

 

 
 

  211  

 
  

  165  

 
 

27.5

 
 

%

 
 

44.5

 
 

%

 
 

-17.0

 
 

%

 
   

 

 
 

  824  

 
  

  624  

 
 

32.0

 
 

%

 
 

47.8

 
 

%

 
 

-15.8

 
%
WW   

 

 
 

  752  

 
  

  693  

 
 

8.5

 
 

%

 
 

12.5

 
 

%

 
 

-4.0

 
 

%

 
   

 

 
 

  2,668  

 
  

  2,127  

 
 

25.4

 
 

%

 
 

30.1

 
 

%

 
 

-4.7

 
%
  OTHER IMMUNOLOGY                        

 

 
US   

 

 
 

  3  

 
  

  6  

 
 

-53.5

 
 

%

 
 

-53.5

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  17  

 
  

  21  

 
 

-18.4

 
 

%

 
 

-18.4

 
 

%

 
 

-

 
 
Intl   

 

 
 

  0  

 
  

  0  

 
*   *   *     

 

 
 

  0  

 
  

  3  

 
*   *   

*

 
WW   

 

 
 

  3  

 
  

  6  

 
 

-53.3

 
 

%

 
 

-53.3

 
 

%

 
 

0.0

 
 

%

 
   

 

 
 

  17  

 
  

  24  

 
 

-28.2

 
 

%

 
 

-28.2

 
 

%

 
 

0.0

 
%
   INFECTIOUS DISEASES                         

 

 
US   

 

 
 

  414  

 
  

  614  

 
 

-32.6

 
 

%

 
 

-32.6

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,680  

 
  

  2,249  

 
 

-25.3

 
 

%

 
 

-25.3

 
 

%

 
 

-

 
 
Intl   

 

 
 

  1,127  

 
  

  1,818  

 
 

-38.0

 
 

%

 
 

-31.0

 
 

%

 
 

-7.0

 
 

%

 
   

 

 
 

  3,769  

 
  

  3,576  

 
 

5.4

 
 

%

 
 

17.3

 
 

%

 
 

-11.9

 
%
WW   

 

 
 

  1,540  

 
  

  2,431  

 
 

-36.6

 
 

%

 
 

-31.4

 
 

%

 
 

-5.2

 
 

%

 
   

 

 
 

  5,449  

 
  

  5,825  

 
 

-6.5

 
 

%

 
 

0.8

 
 

%

 
 

-7.3

 
%
  COVID-19 VACCINE                        

 

 
US   

 

 
 

  0  

 
  

  213  

 
*   *   

-

 
 

 

 
   

 

 
 

  120  

 
  

  634  

 
 

-81.1

 
 

%

 
 

-81.1

 
 

%

 
 

-

 
 
Intl   

 

 
 

  689  

 
  

  1,405  

 
 

-50.9

 
 

%

 
 

-45.0

 
 

%

 
 

-5.9

 
 

%

 
   

 

 
 

  2,059  

 
  

  1,751  

 
 

17.6

 
 

%

 
 

32.1

 
 

%

 
 

-14.5

 
%
WW   

 

 
 

  689  

 
  

  1,619  

 
 

-57.4

 
 

%

 
 

-52.2

 
 

%

 
 

-5.2

 
 

%

 
   

 

 
 

  2,179  

 
  

  2,385  

 
 

-8.6

 
 

%

 
 

2.0

 
 

%

 
 

-10.6

 
%
  EDURANT / rilpivirine                        

 

 
US   

 

 
 

  9  

 
  

  10  

 
 

1.2

 
 

%

 
 

1.2

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  36  

 
  

  41  

 
 

-10.8

 
 

%

 
 

-10.8

 
 

%

 
 

-

 
 
Intl   

 

 
 

  281  

 
  

  220  

 
 

27.6

 
 

%

 
 

39.2

 
 

%

 
 

-11.6

 
 

%

 
   

 

 
 

  972  

 
  

  953  

 
 

2.0

 
 

%

 
 

12.7

 
 

%

 
 

-10.7

 
%
WW   

 

 
 

  290  

 
  

  230  

 
 

26.5

 
 

%

 
 

37.6

 
 

%

 
 

-11.1

 
 

%

 
   

 

 
 

  1,008  

 
  

  994  

 
 

1.5

 
 

%

 
 

11.8

 
 

%

 
 

-10.3

 
%
  PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA                        

 

 
US   

 

 
 

  398  

 
  

  380  

 
 

4.7

 
 

%

 
 

4.7

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,494  

 
  

  1,508  

 
 

-1.0

 
 

%

 
 

-1.0

 
 

%

 
 

-

 
 
Intl   

 

 
 

  95  

 
  

  135  

 
 

-29.5

 
 

%

 
 

-20.5

 
 

%

 
 

-9.0

 
 

%

 
   

 

 
 

  449  

 
  

  575  

 
 

-21.9

 
 

%

 
 

-13.4

 
 

%

 
 

-8.5

 
%
WW   

 

 
 

  493  

 
  

  515  

 
 

-4.3

 
 

%

 
 

-1.9

 
 

%

 
 

-2.4

 
 

%

 
   

 

 
 

  1,943  

 
  

  2,083  

 
 

-6.7

 
 

%

 
 

-4.4

 
 

%

 
 

-2.3

 
%
  OTHER INFECTIOUS DISEASES                        

 

 
US   

 

 
 

  6  

 
  

  11  

 
 

-47.1

 
 

%

 
 

-47.1

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  30  

 
  

  66  

 
 

-55.5

 
 

%

 
 

-55.5

 
 

%

 
 

-

 
 
Intl   

 

 
 

  61  

 
  

  57  

 
 

7.3

 
 

%

 
 

18.0

 
 

%

 
 

-10.7

 
 

%

 
   

 

 
 

  289  

 
  

  297  

 
 

-2.6

 
 

%

 
 

3.6

 
 

%

 
 

-6.2

 
%
WW   

 

 
 

  67  

 
  

  68  

 
 

-1.6

 
 

%

 
 

7.4

 
 

%

 
 

-9.0

 
 

%

 
   

 

 
 

  318  

 
  

  363  

 
 

-12.3

 
 

%

 
 

-7.2

 
 

%

 
 

-5.1

 
%
                       
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
  

  REPORTED SALES vs. PRIOR PERIOD ($MM)  

 
 

 

 
 

  REPORTED SALES vs. PRIOR PERIOD ($MM)  

 
  

 

 
 

  FOURTH QUARTER  

 
 

 

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
  

 

 
 

   2022   

 
  

   2021   

 
 

   Reported   

 
 

   Operational    (1)   

 
 

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
  

   2021   

 
 

   Reported   

 
 

   Operational    (1)   

 
 

   Currency   

 
   NEUROSCIENCE                  
US   

  912  

 
  

  899  

 
 

1.4

 
 

%

 
 

1.4

 
 

%

 
 

-

 
 

 

 
   

  3,570  

 
  

  3,347  

 
 

6.7

 
 

%

 
 

6.7

 
 

%

 
 

-

 
 

 

 
Intl   

  825  

 
  

  890  

 
 

-7.2

 
 

%

 
 

3.3

 
 

%

 
 

-10.5

 
 

%

 
   

  3,323  

 
  

  3,641  

 
 

-8.7

 
 

%

 
 

0.4

 
 

%

 
 

-9.1

 
 

%

 
WW   

  1,737  

 
  

  1,789  

 
 

-2.8

 
 

%

 
 

2.4

 
 

%

 
 

-5.2

 
 

%

 
   

  6,893  

 
  

  6,988  

 
 

-1.4

 
 

%

 
 

3.4

 
 

%

 
 

-4.8

 
 

%

 
  CONCERTA / Methylphenidate                 
US   

  37  

 
  

  55  

 
 

-34.3

 
 

%

 
 

-34.3

 
 

%

 
 

-

 
 

 

 
   

  151  

 
  

  172  

 
 

-12.5

 
 

%

 
 

-12.5

 
 

%

 
 

-

 
 

 

 
Intl   

  131  

 
  

  123  

 
 

6.5

 
 

%

 
 

20.3

 
 

%

 
 

-13.8

 
 

%

 
   

  493  

 
  

  495  

 
 

-0.4

 
 

%

 
 

9.9

 
 

%

 
 

-10.3

 
 

%

 
WW   

  168  

 
  

  178  

 
 

-6.2

 
 

%

 
 

3.4

 
 

%

 
 

-9.6

 
 

%

 
   

  644  

 
  

  667  

 
 

-3.5

 
 

%

 
 

4.1

 
 

%

 
 

-7.6

 
 

%

 
  INVEGA SUSTENNA / XEPLION /  
INVEGA TRINZA / TREVICTA  
               
US   

  678  

 
  

  668  

 
 

1.8

 
 

%

 
 

1.8

 
 

%

 
 

-

 
 

 

 
   

  2,714  

 
  

  2,550  

 
 

6.5

 
 

%

 
 

6.5

 
 

%

 
 

-

 
 

 

 
Intl   

  329  

 
  

  361  

 
 

-8.8

 
 

%

 
 

2.7

 
 

%

 
 

-11.5

 
 

%

 
   

  1,426  

 
  

  1,472  

 
 

-3.1

 
 

%

 
 

7.8

 
 

%

 
 

-10.9

 
 

%

 
WW   

  1,008  

 
  

  1,029  

 
 

-2.0

 
 

%

 
 

2.1

 
 

%

 
 

-4.1

 
 

%

 
   

  4,140  

 
  

  4,022  

 
 

3.0

 
 

%

 
 

6.9

 
 

%

 
 

-3.9

 
 

%

 
  RISPERDAL CONSTA                 
US   

  62  

 
  

  77  

 
 

-19.4

 
 

%

 
 

-19.4

 
 

%

 
 

-

 
 

 

 
   

  257  

 
  

  287  

 
 

-10.4

 
 

%

 
 

-10.4

 
 

%

 
 

-

 
 

 

 
Intl   

  50  

 
  

  63  

 
 

-21.5

 
 

%

 
 

-9.7

 
 

%

 
 

-11.8

 
 

%

 
   

  228  

 
  

  305  

 
 

-25.3

 
 

%

 
 

-15.5

 
 

%

 
 

-9.8

 
 

%

 
WW   

  112  

 
  

  140  

 
 

-20.4

 
 

%

 
 

-15.0

 
 

%

 
 

-5.4

 
 

%

 
   

  485  

 
  

  592  

 
 

-18.1

 
 

%

 
 

-13.0

 
 

%

 
 

-5.1

 
 

%

 
  OTHER NEUROSCIENCE                 
US   

  134  

 
  

  99  

 
 

35.5

 
 

%

 
 

35.5

 
 

%

 
 

-

 
 

 

 
   

  447  

 
  

  338  

 
 

32.4

 
 

%

 
 

32.4

 
 

%

 
 

-

 
 

 

 
Intl   

  315  

 
  

  342  

 
 

-7.7

 
 

%

 
 

0.3

 
 

%

 
 

-8.0

 
 

%

 
   

  1,176  

 
  

  1,368  

 
 

-14.1

 
 

%

 
 

-7.5

 
 

%

 
 

-6.6

 
 

%

 
WW   

  449  

 
  

  441  

 
 

2.0

 
 

%

 
 

8.2

 
 

%

 
 

-6.2

 
 

%

 
   

  1,623  

 
  

  1,706  

 
 

-4.9

 
 

%

 
 

0.4

 
 

%

 
 

-5.3

 
 

%

 
   ONCOLOGY                  
US   

  1,857  

 
  

  1,594  

 
 

16.5

 
 

%

 
 

16.5

 
 

%

 
 

-

 
 

 

 
   

  6,930  

 
  

  5,958  

 
 

16.3

 
 

%

 
 

16.3

 
 

%

 
 

-

 
 

 

 
Intl   

  2,069  

 
  

  2,184  

 
 

-5.3

 
 

%

 
 

6.8

 
 

%

 
 

-12.1

 
 

%

 
   

  9,052  

 
  

  8,590  

 
 

5.4

 
 

%

 
 

17.3

 
 

%

 
 

-11.9

 
 

%

 
WW   

  3,927  

 
  

  3,778  

 
 

3.9

 
 

%

 
 

10.9

 
 

%

 
 

-7.0

 
 

%

 
   

  15,983  

 
  

  14,548  

 
 

9.9

 
 

%

 
 

16.9

 
 

%

 
 

-7.0

 
 

%

 
  DARZALEX                 
US   

  1,139  

 
  

  867  

 
 

31.4

 
 

%

 
 

31.4

 
 

%

 
 

-

 
 

 

 
   

  4,210  

 
  

  3,169  

 
 

32.8

 
 

%

 
 

32.8

 
 

%

 
 

-

 
 

 

 
Intl   

  944  

 
  

  778  

 
 

21.3

 
 

%

 
 

36.7

 
 

%

 
 

-15.4

 
 

%

 
   

  3,767  

 
  

  2,854  

 
 

32.0

 
 

%

 
 

47.0

 
 

%

 
 

-15.0

 
 

%

 
WW   

  2,083  

 
  

  1,645  

 
 

26.6

 
 

%

 
 

33.9

 
 

%

 
 

-7.3

 
 

%

 
   

  7,977  

 
  

  6,023  

 
 

32.4

 
 

%

 
 

39.5

 
 

%

 
 

-7.1

 
 

%

 
  ERLEADA                 
US   

  275  

 
  

  235  

 
 

17.2

 
 

%

 
 

17.2

 
 

%

 
 

-

 
 

 

 
   

  968  

 
  

  813  

 
 

19.2

 
 

%

 
 

19.2

 
 

%

 
 

-

 
 

 

 
Intl   

  266  

 
  

  149  

 
 

78.0

 
 

%

 
 

97.8

 
 

%

 
 

-19.8

 
 

%

 
   

  913  

 
  

  478  

 
* * *
WW   

  541  

 
  

  384  

 
 

40.9

 
 

%

 
 

48.6

 
 

%

 
 

-7.7

 
 

%

 
   

  1,881  

 
  

  1,291  

 
 

45.7

 
 

%

 
 

53.0

 
 

%

 
 

-7.3

 
 

%

 
  IMBRUVICA                 
US   

  318  

 
  

  436  

 
 

-27.0

 
 

%

 
 

-27.0

 
 

%

 
 

-

 
 

 

 
   

  1,390  

 
  

  1,747  

 
 

-20.4

 
 

%

 
 

-20.4

 
 

%

 
 

-

 
 

 

 
Intl   

  547  

 
  

  626  

 
 

-12.5

 
 

%

 
 

-2.0

 
 

%

 
 

-10.5

 
 

%

 
   

  2,394  

 
  

  2,622  

 
 

-8.7

 
 

%

 
 

1.0

 
 

%

 
 

-9.7

 
 

%

 
WW   

  866  

 
  

  1,062  

 
 

-18.5

 
 

%

 
 

-12.3

 
 

%

 
 

-6.2

 
 

%

 
   

  3,784  

 
  

  4,369  

 
 

-13.4

 
 

%

 
 

-7.6

 
 

%

 
 

-5.8

 
 

%

 
  ZYTIGA / abiraterone acetate                 
US   

  20  

 
  

  23  

 
 

-14.3

 
 

%

 
 

-14.3

 
 

%

 
 

-

 
 

 

 
   

  74  

 
  

  119  

 
 

-37.8

 
 

%

 
 

-37.8

 
 

%

 
 

-

 
 

 

 
Intl   

  250  

 
  

  525  

 
 

-52.4

 
 

%

 
 

-44.8

 
 

%

 
 

-7.6

 
 

%

 
   

  1,696  

 
  

  2,178  

 
 

-22.1

 
 

%

 
 

-12.3

 
 

%

 
 

-9.8

 
 

%

 
WW   

  270  

 
  

  548  

 
 

-50.8

 
 

%

 
 

-43.6

 
 

%

 
 

-7.2

 
 

%

 
   

  1,770  

 
  

  2,297  

 
 

-22.9

 
 

%

 
 

-13.6

 
 

%

 
 

-9.3

 
 

%

 
  OTHER ONCOLOGY                 
US   

  106  

 
  

  34  

 
* *  

-

 
 

 

 
   

  289  

 
  

  110  

 
* *  

-

 
 

 

 
Intl   

  63  

 
  

  106  

 
 

-41.1

 
 

%

 
 

-33.1

 
 

%

 
 

-8.0

 
 

%

 
   

  283  

 
  

  458  

 
 

-38.3

 
 

%

 
 

-31.6

 
 

%

 
 

-6.7

 
 

%

 
WW   

  168  

 
  

  140  

 
 

20.6

 
 

%

 
 

26.7

 
 

%

 
 

-6.1

 
 

%

 
   

  571  

 
  

  568  

 
 

0.6

 
 

%

 
 

6.0

 
 

%

 
 

-5.4

 
 

%

 
                
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
  

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
 

 

 
 

 

 
 

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
  

  FOURTH QUARTER  

 
 

 

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
  

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational    (1)   

 
 

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational    (1)   

 
 

   Currency   

 
   PULMONARY HYPERTENSION                  
US   

 

 
 

  610  

 
  

  587  

 
 

3.9

 
 

%

 
 

3.9

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  2,346  

 
  

  2,365  

 
 

-0.8

 
 

%

 
 

-0.8

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  261  

 
  

  264  

 
 

-1.3

 
 

%

 
 

13.5

 
 

%

 
 

-14.8

 
 

%

 
   

 

 
 

  1,071  

 
  

  1,085  

 
 

-1.3

 
 

%

 
 

11.2

 
 

%

 
 

-12.5

 
 

%

 
WW   

 

 
 

  870  

 
  

  851  

 
 

2.3

 
 

%

 
 

6.9

 
 

%

 
 

-4.6

 
 

%

 
   

 

 
 

  3,417  

 
  

  3,450  

 
 

-1.0

 
 

%

 
 

3.0

 
 

%

 
 

-4.0

 
 

%

 
  OPSUMIT                 
US   

 

 
 

  305  

 
  

  286  

 
 

7.0

 
 

%

 
 

7.0

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,132  

 
  

  1,147  

 
 

-1.3

 
 

%

 
 

-1.3

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  156  

 
  

  162  

 
 

-3.7

 
 

%

 
 

11.0

 
 

%

 
 

-14.7

 
 

%

 
   

 

 
 

  651  

 
  

  672  

 
 

-3.2

 
 

%

 
 

9.3

 
 

%

 
 

-12.5

 
 

%

 
WW   

 

 
 

  461  

 
  

  448  

 
 

3.1

 
 

%

 
 

8.4

 
 

%

 
 

-5.3

 
 

%

 
   

 

 
 

  1,783  

 
  

  1,819  

 
 

-2.0

 
 

%

 
 

2.6

 
 

%

 
 

-4.6

 
 

%

 
  UPTRAVI                 
US   

 

 
 

  280  

 
  

  264  

 
 

6.3

 
 

%

 
 

6.3

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,104  

 
  

  1,056  

 
 

4.5

 
 

%

 
 

4.5

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  56  

 
  

  46  

 
 

20.4

 
 

%

 
 

33.3

 
 

%

 
 

-12.9

 
 

%

 
   

 

 
 

  218  

 
  

  181  

 
 

20.4

 
 

%

 
 

32.4

 
 

%

 
 

-12.0

 
 

%

 
WW   

 

 
 

  336  

 
  

  310  

 
 

8.4

 
 

%

 
 

10.3

 
 

%

 
 

-1.9

 
 

%

 
   

 

 
 

  1,322  

 
  

  1,237  

 
 

6.9

 
 

%

 
 

8.6

 
 

%

 
 

-1.7

 
 

%

 
  OTHER PULMONARY HYPERTENSION                 
US   

 

 
 

  24  

 
  

  38  

 
 

-35.5

 
 

%

 
 

-35.5

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  110  

 
  

  163  

 
 

-32.3

 
 

%

 
 

-32.3

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  48  

 
  

  56  

 
 

-12.2

 
 

%

 
 

4.4

 
 

%

 
 

-16.6

 
 

%

 
   

 

 
 

  202  

 
  

  232  

 
 

-12.8

 
 

%

 
 

0.3

 
 

%

 
 

-13.1

 
 

%

 
WW   

 

 
 

  73  

 
  

  94  

 
 

-21.7

 
 

%

 
 

-11.8

 
 

%

 
 

-9.9

 
 

%

 
   

 

 
 

  313  

 
  

  395  

 
 

-20.8

 
 

%

 
 

-13.1

 
 

%

 
 

-7.7

 
 

%

 
   CARDIOVASCULAR / METABOLISM / OTHER                  
US   

 

 
 

  776  

 
  

  813  

 
 

-4.4

 
 

%

 
 

-4.4

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  3,042  

 
  

  3,192  

 
 

-4.7

 
 

%

 
 

-4.7

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  194  

 
  

  200  

 
 

-3.4

 
 

%

 
 

5.7

 
 

%

 
 

-9.1

 
 

%

 
   

 

 
 

  845  

 
  

  927  

 
 

-8.9

 
 

%

 
 

-1.7

 
 

%

 
 

-7.2

 
 

%

 
WW   

 

 
 

  971  

 
  

  1,013  

 
 

-4.2

 
 

%

 
 

-2.4

 
 

%

 
 

-1.8

 
 

%

 
   

 

 
 

  3,887  

 
  

  4,119  

 
 

-5.6

 
 

%

 
 

-4.0

 
 

%

 
 

-1.6

 
 

%

 
  XARELTO                 
US   

 

 
 

  667  

 
  

  644  

 
 

3.4

 
 

%

 
 

3.4

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  2,473  

 
  

  2,438  

 
 

1.4

 
 

%

 
 

1.4

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  -  

 
  

  -  

 
 

-

 
 

 

 
 

-

 
 

 

 
 

-

 
 

 

 
   

 

 
 

  -  

 
  

  -  

 
 

-

 
 

 

 
 

-

 
 

 

 
 

-

 
 

 

 
WW   

 

 
 

  667  

 
  

  644  

 
 

3.4

 
 

%

 
 

3.4

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  2,473  

 
  

  2,438  

 
 

1.4

 
 

%

 
 

1.4

 
 

%

 
 

-

 
 

 

 
  INVOKANA / INVOKAMET                 
US   

 

 
 

  29  

 
  

  59  

 
 

-51.3

 
 

%

 
 

-51.3

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  193  

 
  

  308  

 
 

-37.4

 
 

%

 
 

-37.4

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  62  

 
  

  60  

 
 

2.3

 
 

%

 
 

11.2

 
 

%

 
 

-8.9

 
 

%

 
   

 

 
 

  255  

 
  

  254  

 
 

0.1

 
 

%

 
 

7.3

 
 

%

 
 

-7.2

 
 

%

 
WW   

 

 
 

  91  

 
  

  120  

 
 

-24.1

 
 

%

 
 

-19.6

 
 

%

 
 

-4.5

 
 

%

 
   

 

 
 

  448  

 
  

  563  

 
 

-20.4

 
 

%

 
 

-17.2

 
 

%

 
 

-3.2

 
 

%

 
  OTHER                 
US   

 

 
 

  81  

 
  

  110  

 
 

-25.7

 
 

%

 
 

-25.7

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  376  

 
  

  446  

 
 

-15.5

 
 

%

 
 

-15.5

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  132  

 
  

  140  

 
 

-5.9

 
 

%

 
 

3.3

 
 

%

 
 

-9.2

 
 

%

 
   

 

 
 

  590  

 
  

  673  

 
 

-12.3

 
 

%

 
 

-5.1

 
 

%

 
 

-7.2

 
 

%

 
WW   

 

 
 

  213  

 
  

  250  

 
 

-14.6

 
 

%

 
 

-9.4

 
 

%

 
 

-5.2

 
 

%

 
   

 

 
 

  966  

 
  

  1,119  

 
 

-13.6

 
 

%

 
 

-9.3

 
 

%

 
 

-4.3

 
 

%

 
                
   TOTAL PHARMACEUTICAL                  
  US    

 

 
 

  7,375  

 
  

  7,418  

 
 

  -0.6  

 
 

  %  

 
 

  -0.6  

 
 

  %  

 
 

  -  

 
 

 

 
   

 

 
 

  28,604  

 
  

  27,954  

 
 

  2.3  

 
 

  %  

 
 

  2.3  

 
 

  %  

 
 

-

 
 

 

 
  Intl    

 

 
 

  5,788  

 
  

  6,799  

 
 

  -14.9  

 
 

  %  

 
 

  -4.5  

 
 

  %  

 
 

  -10.4  

 
 

  %  

 
   

 

 
 

  23,959  

 
  

  23,726  

 
 

  1.0  

 
 

  %  

 
 

  11.9  

 
 

  %  

 
 

  -10.9  

 
 

  %  

 
  WW    

  $  

 
 

  13,163  

 
  

  14,217  

 
 

  -7.4  

 
 

  %  

 
 

  -2.5  

 
 

  %  

 
 

  -4.9  

 
 

  %  

 
   

  $  

 
 

  52,563  

 
  

  51,680  

 
 

  1.7  

 
 

  %  

 
 

  6.7  

 
 

  %  

 
 

  -5.0  

 
 

  %  

 
                
                
See footnotes at end of schedule                
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
     REPORTED SALES vs. PRIOR PERIOD ($MM)        REPORTED SALES vs. PRIOR PERIOD ($MM)   
   FOURTH QUARTER      TWELVE MONTHS  
   

 

 
 

 

 
 

 

 
 

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
   MEDTECH SEGMENT    (2,3,5)     

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational    (1)   

 
 

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational    (1)   

 
 

   Currency   

 
                
   INTERVENTIONAL SOLUTIONS                  
US   

  $  

 
 

  603  

 
  

  483  

 
 

24.9

 
 

%

 
 

24.9

 
 

%

 
 

-

 
 

 

 
   

  $  

 
 

  2,169  

 
  

  1,836  

 
 

18.2

 
 

%

 
 

18.2

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  495  

 
  

  536  

 
 

-7.6

 
 

%

 
 

6.2

 
 

%

 
 

-13.8

 
 

%

 
   

 

 
 

  2,131  

 
  

  2,135  

 
 

-0.2

 
 

%

 
 

9.9

 
 

%

 
 

-10.1

 
 

%

 
WW   

 

 
 

  1,098  

 
  

  1,019  

 
 

7.8

 
 

%

 
 

15.1

 
 

%

 
 

-7.3

 
 

%

 
   

 

 
 

  4,300  

 
  

  3,971  

 
 

8.3

 
 

%

 
 

13.7

 
 

%

 
 

-5.4

 
 

%

 
   ORTHOPAEDICS                  
US   

 

 
 

  1,385  

 
  

  1,305  

 
 

6.1

 
 

%

 
 

6.1

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  5,321  

 
  

  5,126  

 
 

3.8

 
 

%

 
 

3.8

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  763  

 
  

  851  

 
 

-10.4

 
 

%

 
 

0.8

 
 

%

 
 

-11.2

 
 

%

 
   

 

 
 

  3,267  

 
  

  3,462  

 
 

-5.6

 
 

%

 
 

3.4

 
 

%

 
 

-9.0

 
 

%

 
WW   

 

 
 

  2,148  

 
  

  2,155  

 
 

-0.4

 
 

%

 
 

4.0

 
 

%

 
 

-4.4

 
 

%

 
   

 

 
 

  8,587  

 
  

  8,588  

 
 

0.0

 
 

%

 
 

3.7

 
 

%

 
 

-3.7

 
 

%

 
  HIPS                 
US   

 

 
 

  250  

 
  

  227  

 
 

9.7

 
 

%

 
 

9.7

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  943  

 
  

  878  

 
 

7.3

 
 

%

 
 

7.3

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  135  

 
  

  151  

 
 

-10.4

 
 

%

 
 

0.4

 
 

%

 
 

-10.8

 
 

%

 
   

 

 
 

  571  

 
  

  602  

 
 

-5.1

 
 

%

 
 

3.6

 
 

%

 
 

-8.7

 
 

%

 
WW   

 

 
 

  385  

 
  

  378  

 
 

1.7

 
 

%

 
 

6.0

 
 

%

 
 

-4.3

 
 

%

 
   

 

 
 

  1,514  

 
  

  1,480  

 
 

2.3

 
 

%

 
 

5.8

 
 

%

 
 

-3.5

 
 

%

 
  KNEES                 
US   

 

 
 

  231  

 
  

  208  

 
 

11.8

 
 

%

 
 

11.8

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  851  

 
  

  787  

 
 

8.2

 
 

%

 
 

8.2

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  122  

 
  

  135  

 
 

-9.5

 
 

%

 
 

1.2

 
 

%

 
 

-10.7

 
 

%

 
   

 

 
 

  508  

 
  

  538  

 
 

-5.7

 
 

%

 
 

3.1

 
 

%

 
 

-8.8

 
 

%

 
WW   

 

 
 

  354  

 
  

  342  

 
 

3.4

 
 

%

 
 

7.6

 
 

%

 
 

-4.2

 
 

%

 
   

 

 
 

  1,359  

 
  

  1,325  

 
 

2.6

 
 

%

 
 

6.1

 
 

%

 
 

-3.5

 
 

%

 
  TRAUMA                 
US   

 

 
 

  470  

 
  

  467  

 
 

0.7

 
 

%

 
 

0.7

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,882  

 
  

  1,819  

 
 

3.5

 
 

%

 
 

3.5

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  240  

 
  

  261  

 
 

-7.9

 
 

%

 
 

3.5

 
 

%

 
 

-11.4

 
 

%

 
   

 

 
 

  989  

 
  

  1,066  

 
 

-7.2

 
 

%

 
 

2.6

 
 

%

 
 

-9.8

 
 

%

 
WW   

 

 
 

  710  

 
  

  728  

 
 

-2.4

 
 

%

 
 

1.7

 
 

%

 
 

-4.1

 
 

%

 
   

 

 
 

  2,871  

 
  

  2,885  

 
 

-0.5

 
 

%

 
 

3.1

 
 

%

 
 

-3.6

 
 

%

 
  SPINE, SPORTS & OTHER                 
US   

 

 
 

  434  

 
  

  403  

 
 

7.5

 
 

%

 
 

7.5

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,645  

 
  

  1,642  

 
 

0.2

 
 

%

 
 

0.2

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  265  

 
  

  304  

 
 

-12.9

 
 

%

 
 

-1.5

 
 

%

 
 

-11.4

 
 

%

 
   

 

 
 

  1,198  

 
  

  1,256  

 
 

-4.6

 
 

%

 
 

4.3

 
 

%

 
 

-8.9

 
 

%

 
WW   

 

 
 

  699  

 
  

  708  

 
 

-1.3

 
 

%

 
 

3.6

 
 

%

 
 

-4.9

 
 

%

 
   

 

 
 

  2,843  

 
  

  2,898  

 
 

-1.9

 
 

%

 
 

1.9

 
 

%

 
 

-3.8

 
 

%

 
                
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
  

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
 

 

 
 

   REPORTED SALES vs. PRIOR PERIOD ($MM)   

 
  

  FOURTH QUARTER  

 
 

 

 
 

  TWELVE MONTHS  

 
  

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  % Change  

 
  

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational (1)   

 
 

   Currency   

 
 

 

 
 

 

 
 

   2022   

 
 

 

 
 

   2021   

 
 

   Reported   

 
 

   Operational (1)   

 
 

   Currency   

 
   SURGERY                         
US   

 

 
 

  1,000  

 
  

  986  

 
 

1.5

 
 

%

 
 

1.5

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  3,897  

 
  

  3,867  

 
 

0.8

 
 

%

 
 

0.8

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  1,383  

 
  

  1,527  

 
 

-9.4

 
 

%

 
 

1.4

 
 

%

 
 

-10.8

 
 

%

 
   

 

 
 

  5,793  

 
  

  5,945  

 
 

-2.6

 
 

%

 
 

5.7

 
 

%

 
 

-8.3

 
 

%

 
WW   

 

 
 

  2,384  

 
  

  2,513  

 
 

-5.1

 
 

%

 
 

1.4

 
 

%

 
 

-6.5

 
 

%

 
   

 

 
 

  9,690  

 
  

  9,812  

 
 

-1.2

 
 

%

 
 

3.8

 
 

%

 
 

-5.0

 
 

%

 
  ADVANCED                        
US   

 

 
 

  456  

 
  

  457  

 
 

-0.2

 
 

%

 
 

-0.2

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,784  

 
  

  1,761  

 
 

1.3

 
 

%

 
 

1.3

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  653  

 
  

  735  

 
 

-11.1

 
 

%

 
 

-0.4

 
 

%

 
 

-10.7

 
 

%

 
   

 

 
 

  2,785  

 
  

  2,861  

 
 

-2.6

 
 

%

 
 

5.3

 
 

%

 
 

-7.9

 
 

%

 
WW   

 

 
 

  1,109  

 
  

  1,192  

 
 

-7.0

 
 

%

 
 

-0.3

 
 

%

 
 

-6.7

 
 

%

 
   

 

 
 

  4,569  

 
  

  4,622  

 
 

-1.1

 
 

%

 
 

3.8

 
 

%

 
 

-4.9

 
 

%

 
  GENERAL                        
US   

 

 
 

  544  

 
  

  528  

 
 

3.1

 
 

%

 
 

3.1

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  2,113  

 
  

  2,105  

 
 

0.4

 
 

%

 
 

0.4

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  731  

 
  

  793  

 
 

-7.8

 
 

%

 
 

3.0

 
 

%

 
 

-10.8

 
 

%

 
   

 

 
 

  3,008  

 
  

  3,085  

 
 

-2.5

 
 

%

 
 

6.2

 
 

%

 
 

-8.7

 
 

%

 
WW   

 

 
 

  1,275  

 
  

  1,321  

 
 

-3.5

 
 

%

 
 

3.0

 
 

%

 
 

-6.5

 
 

%

 
   

 

 
 

  5,121  

 
  

  5,190  

 
 

-1.3

 
 

%

 
 

3.8

 
 

%

 
 

-5.1

 
 

%

 
   VISION                         
US   

 

 
 

  456  

 
  

  443  

 
 

3.1

 
 

%

 
 

3.1

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,990  

 
  

  1,857  

 
 

7.2

 
 

%

 
 

7.2

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  689  

 
  

  728  

 
 

-5.4

 
 

%

 
 

5.9

 
 

%

 
 

-11.3

 
 

%

 
   

 

 
 

  2,859  

 
  

  2,831  

 
 

1.0

 
 

%

 
 

11.1

 
 

%

 
 

-10.1

 
 

%

 
WW   

 

 
 

  1,145  

 
  

  1,171  

 
 

-2.2

 
 

%

 
 

4.8

 
 

%

 
 

-7.0

 
 

%

 
   

 

 
 

  4,849  

 
  

  4,688  

 
 

3.4

 
 

%

 
 

9.5

 
 

%

 
 

-6.1

 
 

%

 
  CONTACT LENSES / OTHER                        
US   

 

 
 

  343  

 
  

  316  

 
 

8.6

 
 

%

 
 

8.6

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  1,522  

 
  

  1,398  

 
 

8.9

 
 

%

 
 

8.9

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  489  

 
  

  518  

 
 

-5.6

 
 

%

 
 

7.2

 
 

%

 
 

-12.8

 
 

%

 
   

 

 
 

  2,022  

 
  

  2,043  

 
 

-1.0

 
 

%

 
 

10.1

 
 

%

 
 

-11.1

 
 

%

 
WW   

 

 
 

  831  

 
  

  833  

 
 

-0.2

 
 

%

 
 

7.7

 
 

%

 
 

-7.9

 
 

%

 
   

 

 
 

  3,543  

 
  

  3,440  

 
 

3.0

 
 

%

 
 

9.6

 
 

%

 
 

-6.6

 
 

%

 
  SURGICAL                        
US   

 

 
 

  113  

 
  

  126  

 
 

-10.7

 
 

%

 
 

-10.7

 
 

%

 
 

-

 
 

 

 
   

 

 
 

  468  

 
  

  459  

 
 

2.0

 
 

%

 
 

2.0

 
 

%

 
 

-

 
 

 

 
Intl   

 

 
 

  200  

 
  

  211  

 
 

-5.0

 
 

%

 
 

2.9

 
 

%

 
 

-7.9

 
 

%

 
   

 

 
 

  837  

 
  

  788  

 
 

6.2

 
 

%

 
 

13.7

 
 

%

 
 

-7.5

 
 

%

 
WW   

 

 
 

  314  

 
  

  338  

 
 

-7.1

 
 

%

 
 

-2.2

 
 

%

 
 

-4.9

 
 

%

 
   

 

 
 

  1,306  

 
  

  1,248  

 
 

4.6

 
 

%

 
 

9.4

 
 

%

 
 

-4.8

 
 

%

 
                       
   TOTAL MEDTECH                         
  US    

 

 
 

  3,445  

 
  

  3,216  

 
 

  7.1  

 
 

  %  

 
 

  7.1  

 
 

  %  

 
 

  -  

 
 

 

 
   

 

 
 

  13,377  

 
  

  12,686  

 
 

  5.4  

 
 

  %  

 
 

  5.4  

 
 

  %  

 
 

  -  

 
 

 

 
  Intl    

 

 
 

  3,331  

 
  

  3,643  

 
 

  -8.6  

 
 

  %  

 
 

  2.9  

 
 

  %  

 
 

  -11.5  

 
 

  %  

 
   

 

 
 

  14,050  

 
  

  14,374  

 
 

  -2.3  

 
 

  %  

 
 

  6.9  

 
 

  %  

 
 

  -9.2  

 
 

  %  

 
  WW    

  $  

 
 

  6,776  

 
  

  6,859  

 
 

  -1.2  

 
 

  %  

 
 

  4.9  

 
 

  %  

 
 

  -6.1  

 
 

  %  

 
   

  $  

 
 

  27,427  

 
  

  27,060  

 
 

  1.4  

 
 

  %  

 
 

  6.2  

 
 

  %  

 
 

  -4.8  

 
 

  %  

 
                       
                       
  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
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
   Supplemental Sales Reconciliation (Unaudited)   
(Dollars in Millions)
                      
   

  FOURTH QUARTER  

 
 

 

 
 

  TWELVE MONTHS  

 
 
   

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Percent Change

 
 
   

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

Total

 
 

 

 
 

Operations

 
 

 

 
 

Currency

 
 
                      
  Pharmaceutical                       
U.S.   

  $  

 
 

  7,375  

 
  

  7,418  

 
  

(0.6

 
 

)

 
 

  %  

 
 

(0.6

 
 

)

 
  

-

 
 

 

 
  

  $  

 
 

  28,604  

 
  

  27,954  

 
  

2.3

 
 

 

 
 

  %  

 
 

2.3

 
 

 

 
  

-

 
 

 

 
 
International   

 

 
 

  5,788  

 
  

  6,799  

 
  

(14.9

 
 

)

 
  

(4.5

 
 

)

 
  

(10.4

 
 

)

 
  

 

 
 

  23,959  

 
  

  23,726  

 
  

1.0

 
 

 

 
  

11.9

 
 

 

 
  

(10.9

 
 

)

 
 
Worldwide   

 

 
 

  13,163  

 
  

  14,217  

 
  

(7.4

 
 

)

 
  

(2.5

 
 

)

 
  

(4.9

 
 

)

 
  

 

 
 

  52,563  

 
  

  51,680  

 
  

1.7

 
 

 

 
  

6.7

 
 

 

 
  

(5.0

 
 

)

 
 
                      
COVID-19 Vaccine                      
U.S.   

 

 
 

  0  

 
  

  213  

 
  *   *   

-

 
 

 

 
  

 

 
 

  120  

 
  

  634  

 
  

(81.1

 
 

)

 
  

(81.1

 
 

)

 
  

-

 
 

 

 
 
International   

 

 
 

  689  

 
  

  1,405  

 
  

(50.9

 
 

)

 
  

(45.0

 
 

)

 
  

(5.9

 
 

)

 
  

 

 
 

  2,059  

 
  

  1,751  

 
  

17.6

 
 

 

 
  

32.1

 
 

 

 
  

(14.5

 
 

)

 
 
Worldwide   

 

 
 

  689  

 
  

  1,619  

 
  

(57.4

 
 

)

 
  

(52.2

 
 

)

 
  

(5.2

 
 

)

 
  

 

 
 

  2,179  

 
  

  2,385  

 
  

(8.6

 
 

)

 
  

2.0

 
 

 

 
  

(10.6

 
 

)

 
 
                      
Pharmaceutical excluding COVID-19 Vaccine                      
U.S.   

 

 
 

  7,375  

 
  

  7,205  

 
  

2.4

 
 

 

 
  

2.4

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  28,484  

 
  

  27,320  

 
  

4.3

 
 

 

 
  

4.3

 
 

 

 
  

-

 
 

 

 
 
International   

 

 
 

  5,099  

 
  

  5,394  

 
  

(5.5

 
 

)

 
  

6.0

 
 

 

 
  

(11.5

 
 

)

 
  

 

 
 

  21,900  

 
  

  21,975  

 
  

(0.3

 
 

)

 
  

10.3

 
 

 

 
  

(10.6

 
 

)

 
 
Worldwide   

 

 
 

  12,474  

 
  

  12,599  

 
  

(1.0

 
 

)

 
  

3.9

 
 

 

 
  

(4.9

 
 

)

 
  

 

 
 

  50,384  

 
  

  49,295  

 
  

2.2

 
 

 

 
  

6.9

 
 

 

 
  

(4.7

 
 

)

 
 
                      
  Worldwide                       
U.S.   

 

 
 

  12,516  

 
  

  12,163  

 
  

2.9

 
 

 

 
  

2.9

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  48,580  

 
  

  47,156  

 
  

3.0

 
 

 

 
  

3.0

 
 

 

 
  

-

 
 

 

 
 
International   

 

 
 

  11,190  

 
  

  12,641  

 
  

(11.5

 
 

)

 
  

(1.1

 
 

)

 
  

(10.4

 
 

)

 
  

 

 
 

  46,363  

 
  

  46,619  

 
  

(0.6

 
 

)

 
  

9.1

 
 

 

 
  

(9.7

 
 

)

 
 
Worldwide   

 

 
 

  23,706  

 
  

  24,804  

 
  

(4.4

 
 

)

 
  

0.9

 
 

 

 
  

(5.3

 
 

)

 
  

 

 
 

  94,943  

 
  

  93,775  

 
  

1.3

 
 

 

 
  

6.1

 
 

 

 
  

(4.8

 
 

)

 
 
                      
COVID-19 Vaccine                      
U.S.   

 

 
 

  0  

 
  

  213  

 
  *   *   

-

 
 

 

 
  

 

 
 

  120  

 
  

  634  

 
  

(81.1

 
 

)

 
  

(81.1

 
 

)

 
  

-

 
 

 

 
 
International   

 

 
 

  689  

 
  

  1,405  

 
  

(50.9

 
 

)

 
  

(45.0

 
 

)

 
  

(5.9

 
 

)

 
  

 

 
 

  2,059  

 
  

  1,751  

 
  

17.6

 
 

 

 
  

32.1

 
 

 

 
  

(14.5

 
 

)

 
 
Worldwide   

 

 
 

  689  

 
  

  1,619  

 
  

(57.4

 
 

)

 
  

(52.2

 
 

)

 
  

(5.2

 
 

)

 
  

 

 
 

  2,179  

 
  

  2,385  

 
  

(8.6

 
 

)

 
  

2.0

 
 

 

 
  

(10.6

 
 

)

 
 
                      
Worldwide                      
U.S.   

 

 
 

  12,516  

 
  

  11,950  

 
  

4.7

 
 

 

 
  

4.7

 
 

 

 
  

-

 
 

 

 
  

 

 
 

  48,460  

 
  

  46,522  

 
  

4.2

 
 

 

 
  

4.2

 
 

 

 
  

-

 
 

 

 
 
International   

 

 
 

  10,501  

 
  

  11,236  

 
  

(6.5

 
 

)

 
  

4.4

 
 

 

 
  

(10.9

 
 

)

 
  

 

 
 

  44,304  

 
  

  44,868  

 
  

(1.3

 
 

)

 
  

8.2

 
 

 

 
  

(9.5

 
 

)

 
 
Worldwide excluding COVID-19 Vaccine   

  $  

 
 

  23,017  

 
  

  23,186  

 
  

(0.7

 
 

)

 
 

  %  

 
 

4.6

 
 

 

 
  

(5.3

 
 

)

 
  

  $  

 
 

  92,764  

 
  

  91,390  

 
  

1.5

 
 

 

 
 

  %  

 
 

6.2

 
 

 

 
  

(4.7

 
 

)

 
 
                      
  Note: Columns and rows within tables may not add due to rounding              
* Percentage greater than 100% or not meaningful
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Johnson & Johnson and Subsidiaries          
Reconciliation of Non-GAAP Financial Measures         
Q4 QTD - Income Before Tax by Segment*
Dollars in Millions
                        
  

Consumer Health 1

 
 

 

 
 

Pharmaceutical 1

 
 

 

 
 

MedTech

 
 

 

 
 

Unallocated

 
 

 

 
 

Consumer Health
Separation Costs

 
 

 

 
 

Worldwide Total

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
                        
Reported Income Before Tax by Segment$  

651

 
 

 

 
  

442

 
 

 

 
  

3,308

 
 

 

 
  

4,306

 
 

 

 
  

865

 
 

 

 
  

575

 
 

 

 
  

(153

 
 

)

 
  

(420

 
 

)

 
  

(470

 
 

)

 
  

(67

 
 

)

 
  

4,201

 
 

 

 
  

4,836

 
 

 

 
   % to Sales    

   17.3   

 
 

   %   

 
  

   11.9   

 
 

   %   

 
  

   25.1   

 
 

   %   

 
  

   30.3   

 
 

   %   

 
  

   12.8   

 
 

   %   

 
  

   8.4   

 
 

   %   

 
  

   -0.6   

 
 

   %   

 
  

   -1.7   

 
 

   %   

 
  

   -2.0   

 
 

   %   

 
  

   -0.3   

 
 

   %   

 
  

   17.7   

 
 

   %   

 
  

   19.5   

 
 

   %   

 
                        
Intangible asset amortization expense  

84

 
 

 

 
  

100

 
 

 

 
  

717

 
 

 

 
  

761

 
 

 

 
  

260

 
 

 

 
  

260

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

1,061

 
 

 

 
  

1,121

 
 

 

 
                        
In-process research and development  

-

 
 

 

 
  

-

 
 

 

 
  

173

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

173

 
 

 

 
  

-

 
 

 

 
                        
Litigation related  

72

 
 

 

 
  

122

 
 

 

 
  

61

 
 

 

 
  

(35

 
 

)

 
  

129

 
 

 

 
  

187

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

262

 
 

 

 
  

274

 
 

 

 
                        
Loss/(gain) on securities  

-

 
 

 

 
  

1

 
 

 

 
  

23

 
 

 

 
  

(237

 
 

)

 
  

(17

 
 

)

 
  

38

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

6

 
 

 

 
  

(198

 
 

)

 
                        
Restructuring related  

21

 
 

 

 
  

28

 
 

 

 
  

31

 
 

 

 
  

22

 
 

 

 
  

88

 
 

 

 
  

90

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

140

 
 

 

 
  

140

 
 

 

 
                        
Acquisition, integration and divestiture related  

-

 
 

 

 
  

-

 
 

 

 
  

(104

 
 

)

 
  

5

 
 

 

 
  

300

 
 

 

 
  

21

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

196

 
 

 

 
  

26

 
 

 

 
                        
Medical Device Regulation  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

88

 
 

 

 
  

73

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

88

 
 

 

 
  

73

 
 

 

 
                        
COVID-19 Vaccine related costs  

-

 
 

 

 
  

-

 
 

 

 
  

821

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

821

 
 

 

 
  

-

 
 

 

 
                        
Consumer Health separation costs  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

470

 
 

 

 
  

67

 
 

 

 
  

470

 
 

 

 
  

67

 
 

 

 
                        
Other  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
                        
Adjusted Income Before Tax by Segment$  

828

 
 

 

 
  

693

 
 

 

 
  

5,030

 
 

 

 
  

4,822

 
 

 

 
  

1,713

 
 

 

 
  

1,244

 
 

 

 
  

(153

 
 

)

 
  

(420

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

7,418

 
 

 

 
  

6,339

 
 

 

 
   % to Sales    

   22.0   

 
 

   %   

 
  

   18.6   

 
 

   %   

 
  

   38.2   

 
 

   %   

 
  

   33.9   

 
 

   %   

 
  

   25.3   

 
 

   %   

 
  

   18.1   

 
 

   %   

 
  

   -0.6   

 
 

   %   

 
  

   -1.7   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   31.3   

 
 

   %   

 
  

   25.6   

 
 

   %   

 
                        
                        
                        
  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 1/24/2023
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Q4 YTD - Income Before Tax by Segment*
Dollars in Millions
                  

Consumer Health
Separation Costs

 
    
  

Consumer Health 1

 
 

 

 
 

Pharmaceutical 1

 
 

 

 
 

MedTech

 
 

 

 
 

Unallocated

 
 

 

 
 

 

 
 

Worldwide Total

 
  

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
 

 

 
 

  2022  

 
 

 

 
 

  2021  

 
                        
Reported Income Before Tax by Segment$  

2,930

 
 

 

 
  

1,573

 
 

 

 
  

15,901

 
 

 

 
  

17,969

 
 

 

 
  

4,607

 
 

 

 
  

4,373

 
 

 

 
  

(624

 
 

)

 
  

(1,072

 
 

)

 
  

(1,089

 
 

)

 
  

(67

 
 

)

 
  

21,725

 
 

 

 
  

22,776

 
 

 

 
   % to Sales    

   19.6   

 
 

   %   

 
  

   10.5   

 
 

   %   

 
  

   30.3   

 
 

   %   

 
  

   34.8   

 
 

   %   

 
  

   16.8   

 
 

   %   

 
  

   16.2   

 
 

   %   

 
  

   -0.7   

 
 

   %   

 
  

   -1.1   

 
 

   %   

 
  

   -1.1   

 
 

   %   

 
  

   -0.1   

 
 

   %   

 
  

   22.9   

 
 

   %   

 
  

   24.3   

 
 

   %   

 
                        
Intangible asset amortization expense  

361

 
 

 

 
  

414

 
 

 

 
  

2,911

 
 

 

 
  

3,258

 
 

 

 
  

1,033

 
 

 

 
  

1,025

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

4,305

 
 

 

 
  

4,697

 
 

 

 
                        
In-process research and development  

-

 
 

 

 
  

-

 
 

 

 
  

783

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

900

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

783

 
 

 

 
  

900

 
 

 

 
                        
Litigation related  

150

 
 

 

 
  

1,603

 
 

 

 
  

104

 
 

 

 
  

640

 
 

 

 
  

612

 
 

 

 
  

85

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

866

 
 

 

 
  

2,328

 
 

 

 
                        
Loss/(gain) on securities  

-

 
 

 

 
  

(18

 
 

)

 
  

696

 
 

 

 
  

(486

 
 

)

 
  

(6

 
 

)

 
  

(29

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

690

 
 

 

 
  

(533

 
 

)

 
                        
Restructuring related  

91

 
 

 

 
  

119

 
 

 

 
  

63

 
 

 

 
  

76

 
 

 

 
  

309

 
 

 

 
  

278

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

463

 
 

 

 
  

473

 
 

 

 
                        
Acquisition, integration and divestiture related  

-

 
 

 

 
  

-

 
 

 

 
  

(104

 
 

)

 
  

(562

 
 

)

 
  

300

 
 

 

 
  

84

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

196

 
 

 

 
  

(478

 
 

)

 
                        
Medical Device Regulation  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

296

 
 

 

 
  

234

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

296

 
 

 

 
  

234

 
 

 

 
                        
COVID-19 Vaccine related costs  

-

 
 

 

 
  

-

 
 

 

 
  

1,474

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

1,474

 
 

 

 
  

-

 
 

 

 
                        
Consumer Health separation costs  

-

 
 

 

 
    

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

1,089

 
 

 

 
  

67

 
 

 

 
  

1,089

 
 

 

 
  

67

 
 

 

 
                        
Other  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

(7

 
 

)

 
  

-

 
 

 

 
                        
Adjusted Income Before Tax by Segment$  

3,532

 
 

 

 
  

3,691

 
 

 

 
  

21,828

 
 

 

 
  

20,895

 
 

 

 
  

7,151

 
 

 

 
  

6,950

 
 

 

 
  

(631

 
 

)

 
  

(1,072

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

31,880

 
 

 

 
  

30,464

 
 

 

 
   % to Sales    

   23.6   

 
 

   %   

 
  

   24.5   

 
 

   %   

 
  

   41.5   

 
 

   %   

 
  

   40.4   

 
 

   %   

 
  

   26.1   

 
 

   %   

 
  

   25.7   

 
 

   %   

 
  

   -0.7   

 
 

   %   

 
  

   -1.1   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   0.0   

 
 

   %   

 
  

   33.6   

 
 

   %   

 
  

   32.5   

 
 

   %   

 
                        
                        
                        
  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 1/24/2023
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
  Johnson & Johnson and Subsidiaries  
  GAAP to Non-GAAP Reconciliation  
  $ in Millions  
                            
  Quarter to Date  
                       Consumer Health
separation tax
related costs
 
      
   Fourth Quarter         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
 
     Fourth Quarter  
   Jan 1, 2023
GAAP
 
   Intangible asset
amortization
 
   Litigation related      Restructuring
related
 
     Medical Device
Regulation
 
       Other     Jan 1, 2023
Non-GAAP
 
Cost of products sold  

$

 
 

7,765

 
  

(1,060

 
 

)

 
      

(36

 
 

)

 
      

(33

 
 

)

 
  

(160

 
 

)

 
  

(4

 
 

)

 
  

-

 
 

 

 
  

-

 
 

 

 
  

-

 
 

 

 
  

6,472

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

6,512

 
              

(9

 
 

)

 
  

-

 
 

 

 
  

(43

 
 

)

 
        

6,460

 
 

 

 
Research and development expense  

 

 
 

3,841

 
          

-

 
 

 

 
    

(46

 
 

)

 
  

(114

 
 

)

 
  

-

 
 

 

 
        

3,681

 
 

 

 
Other (Income) / Expense  

 

 
 

1,207

 
  

(1

 
 

)

 
  

(262

 
 

)

 
    

(20

 
 

)

 
  

(196

 
 

)

 
  

(6

 
 

)

 
    

(547

 
 

)

 
  

(423

 
 

)

 
  

-

 
 

 

 
    

-

 
 

 

 
  

(248

 
 

)

 
In-process research and development  

 

 
 

173

 
      

(173

 
 

)

 
                    

-

 
 

 

 
Restructuring  

 

 
 

84

 
        

(84

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

681

 
  

165

 
 

 

 
  

(36

 
 

)

 
  

40

 
 

 

 
  

21

 
 

 

 
  

5

 
 

 

 
  

2

 
 

 

 
  

17

 
 

 

 
  

199

 
 

 

 
  

94

 
 

 

 
  

(35

 
 

)

 
  

47

 
 

 

 
  

-

 
 

 

 
  

1,200

 
 

 

 
Net Earnings  

 

 
 

3,520

 
  

896

 
 

 

 
  

298

 
 

 

 
  

133

 
 

 

 
  

119

 
 

 

 
  

191

 
 

 

 
  

4

 
 

 

 
  

71

 
 

 

 
  

622

 
 

 

 
  

376

 
 

 

 
  

35

 
 

 

 
  

(47

 
 

)

 
  

-

 
 

 

 
  

6,218

 
 

 

 
                            
                       Consumer Health
separation tax
related costs
 
      
   Fourth 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
 
     Fourth Quarter  
   Jan 2, 2022
GAAP
 
   Intangible asset
amortization
 
   Litigation related      Restructuring
related
 
     Medical Device
Regulation
 
       Other     Jan 2, 2022
Non-GAAP
 
Cost of products sold  

$

 
 

7,955

 
  

(1,111

 
 

)

 
      

(21

 
 

)

 
      

(26

 
 

)

 
            

6,797

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

7,154

 
              

(7

 
 

)

 
            

7,147

 
 

 

 
Research and development expense  

 

 
 

4,720

 
          

-

 
 

 

 
    

(40

 
 

)

 
            

4,680

 
 

 

 
Other (Income) / Expense  

 

 
 

9

 
  

(10

 
 

)

 
  

(274

 
 

)

 
    

(36

 
 

)

 
  

(26

 
 

)

 
  

198

 
 

 

 
    

-

 
 

 

 
  

(67

 
 

)

 
  

-

 
 

 

 
    

-

 
 

 

 
  

(206

 
 

)

 
In-process research and development  

 

 
 

-

 
      

-

 
 

 

 
                    

-

 
 

 

 
Restructuring  

 

 
 

83

 
        

(83

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

100

 
  

162

 
 

 

 
  

49

 
 

 

 
  

-

 
 

 

 
  

27

 
 

 

 
  

6

 
 

 

 
  

(89

 
 

)

 
  

14

 
 

 

 
  

-

 
 

 

 
  

15

 
 

 

 
  

-

 
 

 

 
  

377

 
 

 

 
  

-

 
 

 

 
  

661

 
 

 

 
Net Earnings  

 

 
 

4,736

 
  

959

 
 

 

 
  

225

 
 

 

 
  

-

 
 

 

 
  

113

 
 

 

 
  

20

 
 

 

 
  

(109

 
 

)

 
  

59

 
 

 

 
  

-

 
 

 

 
  

52

 
 

 

 
  

-

 
 

 

 
  

(377

 
 

)

 
  

-

 
 

 

 
  

5,678

 
 

 

 
                            
  Year to Date  
                       Consumer Health
separation tax
related costs
 
      
   Twelve 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
 
     Twelve Months  
   Jan 1, 2023
GAAP
 
   Intangible asset
amortization
 
   Litigation related      Restructuring
related
 
     Medical Device
Regulation
 
       Other     Jan 1, 2023
Non-GAAP
 
Cost of products sold  

$

 
 

31,089

 
  

(4,292

 
 

)

 
      

(82

 
 

)

 
      

(109

 
 

)

 
  

(456

 
 

)

 
  

(4

 
 

)

 
        

26,146

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

24,765

 
              

(28

 
 

)

 
    

(45

 
 

)

 
        

24,692

 
 

 

 
Research and development expense  

 

 
 

14,603

 
          

-

 
 

 

 
    

(159

 
 

)

 
  

(304

 
 

)

 
          

14,140

 
 

 

 
Other (Income) / Expense  

 

 
 

1,871

 
  

(13

 
 

)

 
  

(866

 
 

)

 
    

(60

 
 

)

 
  

(196

 
 

)

 
  

(690

 
 

)

 
    

(714

 
 

)

 
  

(1,040

 
 

)

 
  

-

 
 

 

 
    

7

 
 

 

 
  

(1,701

 
 

)

 
In-process research and development  

 

 
 

783

 
      

(783

 
 

)

 
    

-

 
 

 

 
  

-

 
 

 

 
              

-

 
 

 

 
Restructuring  

 

 
 

321

 
        

(321

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

3,784

 
  

667

 
 

 

 
  

(125

 
 

)

 
  

178

 
 

 

 
  

81

 
 

 

 
  

5

 
 

 

 
  

166

 
 

 

 
  

56

 
 

 

 
  

360

 
 

 

 
  

206

 
 

 

 
  

(494

 
 

)

 
  

(40

 
 

)

 
  

(2

 
 

)

 
  

4,842

 
 

 

 
Net Earnings  

 

 
 

17,941

 
  

3,638

 
 

 

 
  

991

 
 

 

 
  

605

 
 

 

 
  

382

 
 

 

 
  

191

 
 

 

 
  

524

 
 

 

 
  

240

 
 

 

 
  

1,114

 
 

 

 
  

883

 
 

 

 
  

494

 
 

 

 
  

40

 
 

 

 
  

(5

 
 

)

 
  

27,038

 
 

 

 
                            
                       Consumer Health
separation tax
related costs
 
      
   Twelve 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
 
     Twelve Months  
   Jan 2, 2022
GAAP
 
   Intangible asset
amortization
 
   Litigation related      Restructuring
related
 
     Medical Device
Regulation
 
       Other     Jan 2, 2022
Non-GAAP
 
Cost of products sold  

$

 
 

29,855

 
  

(4,661

 
 

)

 
      

(86

 
 

)

 
      

(85

 
 

)

 
            

25,023

 
 

 

 
Selling, marketing and admin expenses  

 

 
 

24,659

 
              

(24

 
 

)

 
            

24,635

 
 

 

 
Research and development expense  

 

 
 

14,714

 
          

-

 
 

 

 
    

(125

 
 

)

 
            

14,589

 
 

 

 
Other (Income) / Expense  

 

 
 

489

 
  

(36

 
 

)

 
  

(2,328

 
 

)

 
    

(135

 
 

)

 
  

478

 
 

 

 
  

533

 
 

 

 
    

-

 
 

 

 
  

(67

 
 

)

 
  

-

 
 

 

 
    

-

 
 

 

 
  

(1,066

 
 

)

 
In-process research and development  

 

 
 

900

 
      

(900

 
 

)

 
                    

-

 
 

 

 
Restructuring  

 

 
 

252

 
        

(252

 
 

)

 
                  

-

 
 

 

 
Provision for taxes on income  

 

 
 

1,898

 
  

667

 
 

 

 
  

481

 
 

 

 
  

202

 
 

 

 
  

86

 
 

 

 
  

(98

 
 

)

 
  

(116

 
 

)

 
  

44

 
 

 

 
  

-

 
 

 

 
  

15

 
 

 

 
  

-

 
 

 

 
  

1,090

 
 

 

 
  

-

 
 

 

 
  

4,269

 
 

 

 
Net Earnings  

 

 
 

20,878

 
  

4,030

 
 

 

 
  

1,847

 
 

 

 
  

698

 
 

 

 
  

387

 
 

 

 
  

(380

 
 

)

 
  

(417

 
 

)

 
  

190

 
 

 

 
  

-

 
 

 

 
  

52

 
 

 

 
  

-

 
 

 

 
  

(1,090

 
 

)

 
  

-

 
 

 

 
  

26,195

 
 

 

 
                            
                            
(1) 2022 primarily includes costs related to the Abiomed acquisition. 2021 primarily includes gains on the divestitures of two Pharmaceutical brands outside of the United States.       
 

 

 

  

  

  Press Contacts:  

 

Tesia Williams
media-relations@its.jnj.com  

 

  Investor Contacts:  

 

Jessica Moore
RA-JJCUS-InvestorRel@ITS.JNJ.com

 

News Provided by Business Wire via QuoteMedia

JNJ
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