Johnson & Johnson
Jan 26, 2016

Johnson & Johnson Reports 2015 Fourth-Quarter Results:

2015 Fourth-Quarter Sales of $17.8 Billion decreased 2.4%; EPS was $1.15
2015 Full-Year Sales of $70.1 Billion decreased 5.7%, Full-Year EPS was $5.48
Adjusted 2015 Fourth-Quarter EPS was $1.44, an increase of 5.1%*, and Adjusted 2015 Full-Year EPS was $6.20, a decrease of 3.0%*
Strong Operational Sales Growth Excluding Acquisitions/Divestitures and Hepatitis C Impact

NEW BRUNSWICK, N.J., Jan. 26, 2016 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $17.8 billion for the fourth quarter of 2015, a decrease of 2.4% as compared to the fourth quarter of 2014.  Operational sales results increased 4.4% and the negative impact of currency was 6.8%. Domestic sales increased 8.0%. International sales decreased 11.7%, reflecting operational growth of 1.2% and a negative currency impact of 12.9%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 7.8%, domestic sales increased 13.4% and international sales increased 2.9%.*

Worldwide sales for the full-year 2015 were $70.1 billion, a decrease of 5.7% versus 2014.  Operational results increased 1.8% and the negative impact of currency was 7.5%.  Domestic sales increased 2.6%.  International sales decreased 13.1%, reflecting operational growth of 1.1% and a negative currency impact of 14.2%.  Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 6.5%, domestic sales increased 10.6% and international sales increased 3.0%.*  

Net earnings and diluted earnings per share for the fourth quarter of 2015 were $3.2 billion and $1.15, respectively.  Fourth-quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.6 billion. Fourth-quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.3 billion and a charge for after-tax special items of approximately $1.1 billion.  A reconciliation of non-GAAP financial measures is included as an accompanying schedule.  Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.0 billion and adjusted diluted earnings per share were $1.44, representing increases of 4.0% and 5.1%, respectively, as compared to the same period in 2014.* On an operational basis, adjusted diluted earnings per share increased 12.4%.*

Net earnings and diluted earnings per share for the full-year 2015 were $15.4 billion and $5.48, respectively.  Full-year net earnings included after-tax intangible amortization expense of approximately $1.1 billion and a net charge for after-tax special items of approximately $0.9 billion.  Full-year 2014 net earnings included after-tax intangible amortization expense of approximately $1.2 billion and a net charge for after-tax special items of approximately $0.8 billion. A reconciliation of non-GAAP financial measures is included as an accompanying schedule.  Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the full-year of 2015 were $17.4 billion and adjusted diluted earnings per share were $6.20, representing decreases of 4.8% and 3.0%, respectively, as compared to the full year of 2014.* On an operational basis, adjusted diluted earnings per share increased 5.8%.*

"Johnson & Johnson delivered strong underlying growth in 2015, driven by the performance of our Pharmaceutical business and iconic Consumer brands," said Alex Gorsky, Chairman and Chief Executive Officer.  "As we enter 2016, our core business is very healthy, and the recent decisive actions we've taken in support of each of our businesses position us well to drive sustainable long-term growth, faster than the markets we compete in."

Mr. Gorsky continued, "I want to thank all of our colleagues for contributing to these results through their commitment and dedication to the people around the world who rely on our products."

The company announced its 2016 full-year guidance for sales of $70.8 billion to $71.5 billion reflecting expected operational growth in the range of 2.5% to 3.5%.  Excluding the impact of acquisitions, divestitures and hepatitis C sales, operational sales growth is expected to be in the range of 4.5% to 6.0%.*  Additionally, the company announced adjusted earnings guidance for full-year 2016 of $6.43 to $6.58 per share reflecting expected operational growth in the range of 5.3% to 7.7%.*  Adjusted earnings guidance excludes the impact of after-tax intangible amortization expense and special items.

Worldwide Consumer sales of $13.5 billion for the full-year 2015 represented a decrease of 6.8% versus the prior year, consisting of an operational increase of 2.7% and a negative impact from currency of 9.5%. Domestic sales increased 2.5%; international sales decreased 11.9%, which reflected an operational increase of 2.7% and a negative currency impact of 14.6%.  Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 4.1%, domestic sales increased 4.6% and international sales increased 3.8%.*  

Positive contributors to Consumer operational results were sales of over-the-counter products including TYLENOL® and MOTRIN® analgesics, upper respiratory products including ZYRTEC® allergy medications, and digestive health products; international feminine protection products; LISTERINE® oral care products; and NEUTROGENA® skin care products.  

Worldwide Pharmaceutical sales of $31.4 billion for the full-year 2015 represented a decrease of 2.7% versus the prior year with an operational increase of 4.2% and a negative impact from currency of 6.9%. Domestic sales increased 5.2%; international sales decreased 12.0%, which reflected an operational increase of 3.0% and a negative currency impact of 15.0%.  Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 11.0%, domestic sales increased 18.1% and international sales increased 3.3%.*

Worldwide operational sales growth was driven by new products and the strength of core products. New product sales growth was negatively impacted by lower sales of OLYSIO®/SOVRIAD® (simeprevir) due to competitive entrants.  Strong growth in new products include INVOKANA®/INVOKAMET® (canagliflozin), for the treatment of adults with type 2 diabetes; IMBRUVICA® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, or blood cancers; XARELTO® (rivaroxaban), an oral anticoagulant; and ZYTIGA® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer. 

Additional contributors to operational sales growth were STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; INVEGA® SUSTENNA®/XEPLION®/TRINZA® (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults; CONCERTA® (methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; and SIMPONI®/SIMPONI ARIA® (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases. 

During the quarter, the U.S. Food and Drug Administration (FDA) approved DARZALEX™ (daratumumab) for the treatment of double refractory multiple myeloma. Additionally, the FDA approved YONDELIS® (trabectedin) for the treatment of patients with unresectable or metastatic liposarcoma or leiomyosarcoma.  The European Commission approved EDURANT® (rilpiravine) in combination with other anti-retroviral agents, for treatment-naïve adolescent patients aged 12 to 18 years with human immunodeficiency virus-1 (HIV-1) infection. 

In the U.S., a New Drug Application (NDA) was submitted for INVOKAMET® XR, a once-daily therapy combining fixed doses of canagliflozin and metformin hydrochloride extended release for the treatment of adults with type 2 diabetes.  Additionally, regulatory applications were submitted for STELARA® (ustekinumab) for the treatment of adult patients with moderately to severely active Crohn's disease to the FDA and the European Medicines Agency (EMA).  Several regulatory submissions were completed for additional indications of IMBRUVICA® (ibrutinib) including for patients with relapsed or refractory chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma in combination with bendamustine and rituximab in both the U.S. and the European Union (EU) as well as for use in treatment-naïve patients with CLL and relapsed/refractory patients with mantle cell lymphoma in the EU.

Also in the quarter, the acquisition of Novira Therapeutics, Inc., a privately held clinical-stage biopharmaceutical company developing innovative therapies for curative treatment of chronic hepatitis B virus infection, was completed.

Worldwide Medical Devices sales of $25.1 billion for the full-year represented a decrease of 8.7% versus the prior year consisting of an operational decrease of 1.4% and a negative currency impact of 7.3%. Domestic sales decreased 1.0%; international sales decreased 14.8%, which reflected an operational decrease of 1.7% and a negative currency impact of 13.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 2.5%, domestic sales increased 3.3% and international sales increased 2.0%.*

Primary contributors to operational growth were sales of endocutters and biosurgical products in the Advanced Surgery business; electrophysiology products in the Cardiovascular business; joint reconstruction products in the Orthopaedics business; and insulin pump products in the Diabetes Care business. 

During the quarter, the pediatric indication for the Animas® Vibe® insulin pump was approved by the FDA.  Also in the quarter, the acquisition of Coherex Medical, Inc., a privately held medical device company focused on the development of the Coherex WaveCrest® left atrial appendage occlusion system, was completed.

Subsequent to the quarter, the company announced on January 19th, a restructuring of certain Medical Devices businesses.  The company's Consumer Medical Devices businesses, Vision Care and Diabetes Care, are not impacted by these actions. The restructuring is being undertaken to accelerate the pace of innovation, address unmet patient needs and drive growth.  The actions are expected to result in ongoing annualized, pre-tax cost savings of $0.8 billion to $1.0 billion, the majority of which is expected to be realized by the end of 2018, including approximately $200 million in 2016. 

About Johnson & Johnson

Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 127,000 employees at more than 250 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

* Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures.  Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the company's website at www.investor.jnj.com.

Johnson & Johnson will conduct a conference call with investors to discuss this news 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 at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com

Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm.  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 be found on the company's website at www.investor.jnj.com.

NOTE TO INVESTORS

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, business strategy and restructuring plans. 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 and uncertainties inherent in new product development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans, including restructuring plans; any required consultation procedures relating to the restructuring workforce actions; the potential that the expected benefits and opportunities related to the restructuring may not be realized or may take longer to realize than expected; market conditions and the possibility that the on-going share repurchase program may be suspended or discontinued; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 28, 2014, including Exhibit 99 thereto, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.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 statements 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

 

2015

 

2014

 

Total

 

Operations

 

Currency

 

2015

 

2014

 

Total

 

Operations

 

Currency

Sales to customers by

                                     

segment of business

                                     
                                       

Consumer

                                     

    U.S.

$   1,231

 

1,294

 

(4.9)

%

(4.9)

 

-

 

$   5,222

 

5,096

 

2.5

%

2.5

 

-

    International

2,089

 

2,312

 

(9.6)

 

5.5

 

(15.1)

 

8,285

 

9,400

 

(11.9)

 

2.7

 

(14.6)

 

3,320

 

3,606

 

(7.9)

 

1.8

 

(9.7)

 

13,507

 

14,496

 

(6.8)

 

2.7

 

(9.5)

                                       

Pharmaceutical

                                     

    U.S.

4,910

 

4,356

 

12.7

 

12.7

 

-

 

18,333

 

17,432

 

5.2

 

5.2

 

-

    International

3,154

 

3,643

 

(13.4)

 

(0.9)

 

(12.5)

 

13,097

 

14,881

 

(12.0)

 

3.0

 

(15.0)

 

8,064

 

7,999

 

0.8

 

6.5

 

(5.7)

 

31,430

 

32,313

 

(2.7)

 

4.2

 

(6.9)

                                       

Medical Devices

                                     

    U.S.

3,152

 

2,954

 

6.7

 

6.7

 

-

 

12,132

 

12,254

 

(1.0)

 

(1.0)

 

-

    International

3,275

 

3,695

 

(11.4)

 

0.6

 

(12.0)

 

13,005

 

15,268

 

(14.8)

 

(1.7)

 

(13.1)

 

6,427

 

6,649

 

(3.3)

 

3.4

 

(6.7)

 

25,137

 

27,522

 

(8.7)

 

(1.4)

 

(7.3)

                                       

U.S.

9,293

 

8,604

 

8.0

 

8.0

 

-

 

35,687

 

34,782

 

2.6

 

2.6

 

-

International

8,518

 

9,650

 

(11.7)

 

1.2

 

(12.9)

 

34,387

 

39,549

 

(13.1)

 

1.1

 

(14.2)

Worldwide

$ 17,811

 

18,254

 

(2.4)

%

4.4

 

(6.8)

 

$ 70,074

 

74,331

 

(5.7)

%

1.8

 

(7.5)

 

 

Johnson & Johnson and Subsidiaries

                                     

Supplementary Sales Data

                                     
                                       

(Unaudited; Dollars in Millions)

FOURTH QUARTER

 

TWELVE MONTHS

         

Percent Change

         

Percent Change

 

2015

 

2014

 

Total

 

Operations

 

Currency

 

2015

 

2014

 

Total

 

Operations

 

Currency

Sales to customers by

                                     

geographic area

                                     
                                       

U.S.

$   9,293

 

8,604

 

8.0

%

8.0

 

-

 

$ 35,687

 

34,782

 

2.6

%

2.6

 

-

                                       

Europe

4,002

 

4,560

 

(12.2)

 

0.8

 

(13.0)

 

15,995

 

18,947

 

(15.6)

 

1.1

 

(16.7)

Western Hemisphere excluding U.S.

1,442

 

1,782

 

(19.1)

 

2.8

 

(21.9)

 

6,045

 

7,160

 

(15.6)

 

2.6

 

(18.2)

Asia-Pacific, Africa

3,074

 

3,308

 

(7.1)

 

0.9

 

(8.0)

 

12,347

 

13,442

 

(8.1)

 

0.3

 

(8.4)

International

8,518

 

9,650

 

(11.7)

 

1.2

 

(12.9)

 

34,387

 

39,549

 

(13.1)

 

1.1

 

(14.2)

                                       

Worldwide

$ 17,811

 

18,254

 

(2.4)

%

4.4

 

(6.8)

 

$ 70,074

 

74,331

 

(5.7)

%

1.8

 

(7.5)

 

 

Johnson & Johnson and Subsidiaries

                 

Condensed Consolidated Statement of Earnings 

                 
                   

(Unaudited; in Millions Except Per Share Figures)

FOURTH QUARTER

                   
 

2015

 

2014

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 17,811

 

100.0

 

$ 18,254

 

100.0

 

(2.4)

Cost of products sold

5,673

 

31.8

 

5,853

 

32.1

 

(3.1)

Selling, marketing and administrative expenses

5,891

 

33.1

 

5,822

 

31.9

 

1.2

Research and development expense

2,864

 

16.1

 

2,635

 

14.4

 

8.7

In-process research and development

214

 

1.2

 

156

 

0.8

   

Interest (income) expense, net

107

 

0.6

 

122

 

0.7

   

Other (income) expense, net

(1,205)

 

(6.8)

 

963

 

5.3

   

Restructuring

509

 

2.9

 

-

 

-

   

Earnings before provision for taxes on income

3,758

 

21.1

 

2,703

 

14.8

 

39.0

Provision for taxes on income

543

 

3.0

 

182

 

1.0

   

Net earnings

$   3,215

 

18.1

 

$   2,521

 

13.8

 

27.5

                   

Net earnings per share (Diluted)

$     1.15

     

$     0.89

     

29.2

                   

Average shares outstanding (Diluted)

2,803.3

     

2,845.3

       
                   

Effective tax rate

14.4

%

   

6.7

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$   4,913

 

27.6

 

$   4,296

 

23.5

 

14.4

Net earnings 

$   4,043

 

22.7

 

$   3,887

 

21.3

 

4.0

Net earnings per share (Diluted)

$     1.44

     

$     1.37

     

5.1

Effective tax rate

17.7

%

   

9.5

%

     
                   

(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

                   
 

2015

 

2014

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 70,074

 

100.0

 

$ 74,331

 

100.0

 

(5.7)

Cost of products sold

21,536

 

30.7

 

22,746

 

30.6

 

(5.3)

Selling, marketing and administrative expenses

21,203

 

30.3

 

21,954

 

29.5

 

(3.4)

Research and development expense

9,046

 

12.9

 

8,494

 

11.4

 

6.5

In-process research and development

224

 

0.3

 

178

 

0.3

   

Interest (income) expense, net

424

 

0.6

 

466

 

0.6

   

Other (income) expense, net

(2,064)

 

(2.9)

 

(70)

 

(0.1)

   

Restructuring

509

 

0.7

 

-

 

-

   

Earnings before provision for taxes on income

19,196

 

27.4

 

20,563

 

27.7

 

(6.6)

Provision for taxes on income

3,787

 

5.4

 

4,240

 

5.7

 

(10.7)

Net earnings

$ 15,409

 

22.0

 

$ 16,323

 

22.0

 

(5.6)

                   

Net earnings per share (Diluted)

$     5.48

     

$     5.70

     

(3.9)

                   

Average shares outstanding (Diluted)

2,812.9

     

2,863.9

       
                   

Effective tax rate

19.7

%

   

20.6

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$ 22,003

 

31.4

 

$ 22,825

 

30.7

 

(3.6)

Net earnings 

$ 17,445

 

24.9

 

$ 18,318

 

24.6

 

(4.8)

Net earnings per share (Diluted)

$     6.20

     

$     6.39

     

(3.0)

Effective tax rate

20.7

%

   

19.7

%

     
                   

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

                 

 

 

Johnson & Johnson and Subsidiaries

                         

Reconciliation of Non-GAAP Financial Measures

                         
                           
 

Fourth Quarter

 

% Incr. /

   

Twelve Months 

 

% Incr. /

 

(Dollars in Millions Except Per Share Data)

2015

 

2014

 

(Decr.)

   

2015

 

2014

 

(Decr.)

 
                           

Earnings before provision for taxes on income - as reported

$ 3,758

 

2,703

 

39.0

%

 

$ 19,196

 

20,563

 

(6.6)

%

                           

Intangible asset amortization expense

301

 

371

       

1,570

 

1,630

     
                           

Restructuring (1)

590

 

-

       

590

 

-

     
                           

In-process research and development

214

 

156

       

224

 

178

     
                           

Synthes integration costs 

83

 

325

       

196

 

754

     
                           

DePuy ASRHip program

-

 

-

       

148

 

126

     
                           

Litigation expense, net

-

 

692

       

141

 

1,253

     
                           

Ortho-Clinical Diagnostics divestiture net (gain)/expense

(33)

 

49

       

(62)

 

(1,899)

     
                           

Additional year of Branded Prescription Drug Fee

-

 

-

       

-

 

220

     
                           

Earnings before provision for taxes on income - as adjusted

$ 4,913

 

4,296

 

14.4

%

 

$ 22,003

 

22,825

 

(3.6)

%

                           

Net Earnings - as reported

$ 3,215

 

2,521

 

27.5

%

 

$ 15,409

 

16,323

 

(5.6)

%

                           

Intangible asset amortization expense

220

 

275

       

1,113

 

1,213

     
                           

Restructuring

415

 

-

       

415

 

-

     
                           

In-process research and development

156

 

115

       

162

 

131

     
                           

Synthes integration costs 

59

 

237

       

144

 

555

     
                           

DePuy ASRHip program

-

 

-

       

130

 

111

     
                           

Litigation expense, net

-

 

652

       

118

 

1,225

(2)

   
                           

Ortho-Clinical Diagnostics divestiture net (gain)/expense

(22)

 

87

       

(46)

 

(1,062)

     
                           

Additional year of Branded Prescription Drug Fee

-

 

-

       

-

 

220

     
                           

Tax benefit associated with Conor Medsystems

-

 

-

       

-

 

(398)

     
                           

Net Earnings  - as adjusted 

$ 4,043

 

3,887

 

4.0

%

 

$ 17,445

 

18,318

 

(4.8)

%

                           

Diluted Net Earnings per share  - as reported

$   1.15

 

0.89

 

29.2

%

 

$     5.48

 

5.70

 

(3.9)

%

                           

Intangible asset amortization expense

0.07

 

0.10

       

0.39

 

0.42

     
                           

Restructuring

0.15

 

-

       

0.15

 

-

     
                           

In-process research and development

0.06

 

0.04

       

0.06

 

0.04

     
                           

Synthes integration costs 

0.02

 

0.08

       

0.05

 

0.19

     
                           

DePuy ASRHip program

-

 

-

       

0.05

 

0.04

     
                           

Litigation expense, net

-

 

0.23

       

0.04

 

0.43

     
                           

Ortho-Clinical Diagnostics divestiture net (gain)/expense

(0.01)

 

0.03

       

(0.02)

 

(0.37)

     
                           

Additional year of Branded Prescription Drug Fee

-

 

-

       

-

 

0.08

     
                           

Tax benefit associated with Conor Medsystems

-

 

-

       

-

 

(0.14)

     
                           

Diluted Net Earnings per share  - as adjusted 

$   1.44

 

1.37

 

5.1

%

 

$     6.20

 

6.39

 

(3.0)

%

                           

Operational Diluted Net Earnings per share - as adjusted*

$   1.54

 

1.37

 

12.4

%

 

$     6.76

 

6.39

 

5.8

%

                           

*Excludes the effect of translational currency

                         
                           

(1)Includes $81 million recorded in cost of products sold

                         

(2)Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction

                   
                           

 

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C Sales (1)

 FOURTH QUARTER 2015 ACTUAL vs. 2014 ACTUAL 

 

 Segments 

   

 Consumer 

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total  

   

Operational % (2)

 WW As Reported: 

 

1.8%

 

6.5%

 

3.4%

 

4.4%

 U.S. 

 

(4.9)%

 

12.7%

 

6.7%

 

8.0%

 International 

 

5.5%

 

(0.9)%

 

0.6%

 

1.2%

                 

Wound Care/Other

               

SPLENDA ®

 

2.6

         

0.5

 U.S. 

 

6.5

         

1.0

 International 

 

0.3

         

0.1

                 

Wound Care / Other

               

BENECOL ®

 

0.3

         

0.1

 U.S. 

 

0.1

         

0.0

 International 

 

0.5

         

0.1

                 

Diagnostics

               

Ortho-Clinical Diagnostics

         

(0.3)

 

(0.1)

 U.S. 

         

0.0

 

0.0

 International 

         

(0.5)

 

(0.2)

                 

Cardiovascular

               

Cordis

         

2.6

 

0.9

 U.S. 

         

1.3

 

0.5

 International 

         

3.6

 

1.3

                 

Other Neuroscience

               

NUCYNTA ®

     

0.5

     

0.2

 U.S. 

     

1.1

     

0.5

 International 

     

0.0

     

0.0

                 

All Other Acquisitions and Divestitures

         

0.1

 

0.1

 U.S. 

         

0.0

 

0.0

 International 

         

0.2

 

0.1

                 

WW Ops excluding Acquisitions and Divestitures

 

4.7%

 

7.0%

 

5.8%

 

6.1%

 U.S. 

 

1.7%

 

13.8%

 

8.0%

 

10.0%

 International 

 

6.3%

 

(0.9)%

 

3.9%

 

2.6%

                 

Hepatitis C

     

4.1

     

1.7

 U.S. 

     

7.2

     

3.4

 International 

     

0.7

     

0.3

                 

WW Ops excluding Hepatitis C only

     

10.6%

     

6.1%

 U.S. 

     

19.9%

     

11.4%

 International 

     

(0.2)%

     

1.5%

                 

WW Ops excluding Acquisitions, Divestitures and Hepatitis C

 

4.7%

 

11.1%

 

5.8%

 

7.8%

 U.S. 

 

1.7%

 

21.0%

 

8.0%

 

13.4%

 International 

 

6.3%

 

(0.2)%

 

3.9%

 

2.9%

                 

(1) Hepatitis C products include OLYSIO ®/SOVRIAD ®and INCIVO ®

               

(2) Operational growth excludes the effect of translational currency

               

 

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C Sales (1)

 TWELVE MONTHS 2015 ACTUAL vs. 2014 ACTUAL 

                 

 Segments 

   

 Consumer 

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total  

   

Operational % (2)

 WW As Reported: 

 

2.7%

 

4.2%

 

(1.4)%

 

1.8%

 U.S. 

 

2.5%

 

5.2%

 

(1.0)%

 

2.6%

 International 

 

2.7%

 

3.0%

 

(1.7)%

 

1.1%

                 

Wound Care/Other

               

SPLENDA ®

 

0.6

         

0.1

 U.S. 

 

1.7

         

0.2

 International 

 

0.1

         

0.0

                 

Women's Health

               

K-Y ®

 

0.3

         

0.1

 U.S. 

 

0.4

         

0.1

 International 

 

0.2

         

0.0

                 

Wound Care / Other

               

BENECOL ®

 

0.6

         

0.1

 U.S. 

 

0.0

         

0.0

 International 

 

0.9

         

0.2

                 

Diagnostics

               

Ortho-Clinical Diagnostics

         

3.2

 

1.2

 U.S. 

         

3.9

 

1.4

 International 

         

2.6

 

1.0

                 

Cardiovascular

               

Cordis

         

0.6

 

0.3

 U.S. 

         

0.4

 

0.2

 International 

         

0.9

 

0.4

                 

Other Neuroscience

               

NUCYNTA ®

     

0.3

     

0.2

 U.S. 

     

0.6

     

0.3

 International 

     

0.0

     

0.0

                 

All Other Acquisitions and Divestitures

 

(0.1)

     

0.1

 

0.0

 U.S. 

 

0.0

     

0.0

 

0.0

 International 

 

(0.1)

     

0.2

 

0.1

                 

WW Ops excluding Acquisitions and Divestitures

 

4.1%

 

4.5%

 

2.5%

 

3.8%

 U.S. 

 

4.6%

 

5.8%

 

3.3%

 

4.8%

 International 

 

3.8%

 

3.0%

 

2.0%

 

2.8%

                 

Hepatitis C

     

6.5

     

2.7

 U.S. 

     

12.3

     

5.8

 International 

     

0.3

     

0.2

                 

WW Ops excluding Hepatitis C only

     

10.7%

     

4.5%

 U.S. 

     

17.5%

     

8.4%

 International 

     

3.3%

     

1.3%

                 

WW Ops excluding Acquisitions, Divestitures and Hepatitis C

 

4.1%

 

11.0%

 

2.5%

 

6.5%

 U.S. 

 

4.6%

 

18.1%

 

3.3%

 

10.6%

 International 

 

3.8%

 

3.3%

 

2.0%

 

3.0%

                 

(1) Hepatitis C products include OLYSIO ® /SOVRIAD ® and INCIVO ®

               

(2) Operational growth excludes the effect of translational currency

               

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FOURTH QUARTER

 

TWELVE MONTHS

 
         

% Change

         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

   

2015

 

2014

Reported

Operational (1)

Currency

 

CONSUMER SEGMENT (2)

                               

BABY CARE

                               

US

 

$       103

 

96

7.3%

7.3%

-

   

$       421

 

407

3.4%

3.4%

-

 

Intl

 

381

 

428

-11.0%

2.8%

-13.8%

   

1,623

 

1,832

-11.4%

0.7%

-12.1%

 

WW

 

484

 

524

-7.6%

3.7%

-11.3%

   

2,044

 

2,239

-8.7%

1.2%

-9.9%

 

ORAL CARE

                               

US

 

170

 

150

13.3%

13.3%

-

   

629

 

600

4.8%

4.8%

-

 

Intl

 

238

 

264

-9.8%

5.2%

-15.0%

   

951

 

1,047

-9.2%

5.5%

-14.7%

 

WW

 

408

 

414

-1.4%

8.2%

-9.6%

   

1,580

 

1,647

-4.1%

5.2%

-9.3%

 

OTC

                               

US

 

382

 

362

5.5%

5.5%

-

   

1,536

 

1,357

13.2%

13.2%

-

 

Intl

 

663

 

711

-6.8%

9.4%

-16.2%

   

2,439

 

2,749

-11.3%

5.5%

-16.8%

 

WW

 

1,045

 

1,073

-2.6%

8.2%

-10.8%

   

3,975

 

4,106

-3.2%

8.1%

-11.3%

 

SKIN CARE

                               

US

 

439

 

471

-6.8%

-6.8%

-

   

1,857

 

1,834

1.3%

1.3%

-

 

Intl

 

432

 

485

-10.9%

4.6%

-15.5%

   

1,674

 

1,924

-13.0%

1.2%

-14.2%

 

WW

 

871

 

956

-8.9%

-1.1%

-7.8%

   

3,531

 

3,758

-6.0%

1.3%

-7.3%

 

WOMEN'S HEALTH

                               

US

 

7

 

7

0.0%

0.0%

-

   

26

 

50

-48.0%

-48.0%

-

 

Intl

 

276

 

301

-8.3%

7.5%

-15.8%

   

1,174

 

1,252

-6.2%

9.8%

-16.0%

 

WW

 

283

 

308

-8.1%

7.4%

-15.5%

   

1,200

 

1,302

-7.8%

7.6%

-15.4%

 

WOUND CARE / OTHER

                               

US

 

130

 

208

-37.5%

-37.5%

-

   

753

 

848

-11.2%

-11.2%

-

 

Intl

 

99

 

123

-19.5%

-8.4%

-11.1%

   

424

 

596

-28.9%

-18.3%

-10.6%

 

WW

 

229

 

331

-30.8%

-26.7%

-4.1%

   

1,177

 

1,444

-18.5%

-14.1%

-4.4%

 
                                 

TOTAL CONSUMER

                               

US

 

1,231

 

1,294

-4.9%

-4.9%

-

   

5,222

 

5,096

2.5%

2.5%

-

 

Intl

 

2,089

 

2,312

-9.6%

5.5%

-15.1%

   

8,285

 

9,400

-11.9%

2.7%

-14.6%

 

WW

 

$    3,320

 

3,606

-7.9%

1.8%

-9.7%

   

$  13,507

 

14,496

-6.8%

2.7%

-9.5%

 
                                 
                                 
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FOURTH QUARTER

 

TWELVE MONTHS

 
         

% Change

         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

   

2015

 

2014

Reported

Operational (1)

Currency

 

PHARMACEUTICAL SEGMENT (2) (3)

                               

IMMUNOLOGY

                               

US

 

$    2,101

 

1,816

15.7%

15.7%

-

   

$    7,642

 

7,111

7.5%

7.5%

-

 

Intl

 

670

 

762

-12.1%

2.0%

-14.1%

   

2,760

 

3,082

-10.4%

5.5%

-15.9%

 

WW

 

2,771

 

2,578

7.5%

11.7%

-4.2%

   

10,402

 

10,193

2.1%

6.9%

-4.8%

 

   REMICADE

                               

   US 

 

1,193

 

1,052

13.4%

13.4%

-

   

4,453

 

4,155

7.2%

7.2%

-

 

   US Exports (4)

 

180

 

244

-26.2%

-26.2%

-

   

782

 

1,078

-27.5%

-27.5%

-

 

   Intl

 

307

 

376

-18.4%

-3.9%

-14.5%

   

1,326

 

1,635

-18.9%

-4.7%

-14.2%

 

   WW

 

1,680

 

1,672

0.5%

3.8%

-3.3%

   

6,561

 

6,868

-4.5%

-1.1%

-3.4%

 

   SIMPONI / SIMPONI ARIA

                               

   US

 

204

 

164

24.4%

24.4%

-

   

730

 

544

34.2%

34.2%

-

 

   Intl

 

136

 

182

-25.3%

-14.8%

-10.5%

   

598

 

643

-7.0%

10.2%

-17.2%

 

   WW

 

340

 

346

-1.7%

3.8%

-5.5%

   

1,328

 

1,187

11.9%

21.2%

-9.3%

 

   STELARA

                               

   US

 

524

 

356

47.2%

47.2%

-

   

1,677

 

1,334

25.7%

25.7%

-

 

   Intl

 

218

 

189

15.3%

32.4%

-17.1%

   

797

 

738

8.0%

27.0%

-19.0%

 

   WW

 

742

 

545

36.1%

42.0%

-5.9%

   

2,474

 

2,072

19.4%

26.2%

-6.8%

 

   OTHER IMMUNOLOGY

                               

   US

 

-

 

-

-

-

-

   

-

 

-

-

-

-

 

   Intl

 

9

 

15

-40.0%

-27.7%

-12.3%

   

39

 

66

-40.9%

-30.6%

-10.3%

 

   WW

 

9

 

15

-40.0%

-27.7%

-12.3%

   

39

 

66

-40.9%

-30.6%

-10.3%

 

INFECTIOUS DISEASES

                               

US

 

363

 

564

-35.6%

-35.6%

-

   

1,535

 

3,112

-50.7%

-50.7%

-

 

Intl

 

438

 

512

-14.5%

-3.6%

-10.9%

   

2,121

 

2,487

-14.7%

1.2%

-15.9%

 

WW

 

801

 

1,076

-25.6%

-20.4%

-5.2%

   

3,656

 

5,599

-34.7%

-27.6%

-7.1%

 

   EDURANT

                               

   US

 

12

 

6

100.0%

100.0%

-

   

41

 

24

70.8%

70.8%

-

 

   Intl

 

95

 

84

13.1%

29.3%

-16.2%

   

369

 

341

8.2%

29.2%

-21.0%

 

   WW

 

107

 

90

18.9%

34.0%

-15.1%

   

410

 

365

12.3%

31.9%

-19.6%

 

   OLYSIO / SOVRIAD

                               

   US

 

(1)

 

256

**

**

-

   

173

 

1,943

-91.1%

-91.1%

-

 

   Intl

 

45

 

65

-30.8%

-27.0%

-3.8%

   

448

 

359

24.8%

49.1%

-24.3%

 

   WW

 

44

 

321

-86.3%

-85.5%

-0.8%

   

621

 

2,302

-73.0%

-69.2%

-3.8%

 

   PREZISTA / PREZCOBIX / REZOLSTA

                               

   US

 

287

 

243

18.1%

18.1%

-

   

1,064

 

930

14.4%

14.4%

-

 

   Intl

 

180

 

205

-12.2%

-0.2%

-12.0%

   

746

 

901

-17.2%

-1.6%

-15.6%

 

   WW

 

467

 

448

4.2%

9.7%

-5.5%

   

1,810

 

1,831

-1.1%

6.6%

-7.7%

 

   OTHER INFECTIOUS DISEASES

                               

   US

 

65

 

59

10.2%

10.2%

-

   

257

 

215

19.5%

19.5%

-

 

   Intl

 

118

 

158

-25.3%

-15.6%

-9.7%

   

558

 

886

-37.0%

-26.2%

-10.8%

 

   WW

 

183

 

217

-15.7%

-8.7%

-7.0%

   

815

 

1,101

-26.0%

-17.3%

-8.7%

 
                                 

See footnotes at end of schedule

                               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FOURTH QUARTER

 

TWELVE MONTHS

 
         

% Change

         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

   

2015

 

2014

Reported

Operational (1)

Currency

 
                                 

NEUROSCIENCE

                               

US

 

752

 

645

16.6%

16.6%

-

   

2,850

 

2,452

16.2%

16.2%

-

 

Intl

 

849

 

1,006

-15.6%

-4.2%

-11.4%

   

3,409

 

4,035

-15.5%

-1.8%

-13.7%

 

WW

 

1,601

 

1,651

-3.0%

3.9%

-6.9%

   

6,259

 

6,487

-3.5%

5.0%

-8.5%

 

   CONCERTA / METHYLPHENIDATE

                               

   US

 

117

 

55

*

*

-

   

434

 

152

*

*

-

 

   Intl

 

96

 

114

-15.8%

-4.0%

-11.8%

   

387

 

447

-13.4%

-0.3%

-13.1%

 

   WW

 

213

 

169

26.0%

33.9%

-7.9%

   

821

 

599

37.1%

46.9%

-9.8%

 

   INVEGA / PALIPERIDONE

                               

   US

 

58

 

96

-39.6%

-39.6%

-

   

339

 

360

-5.8%

-5.8%

-

 

   Intl

 

55

 

65

-15.4%

-5.6%

-9.8%

   

234

 

280

-16.4%

-2.9%

-13.5%

 

   WW

 

113

 

161

-29.8%

-25.9%

-3.9%

   

573

 

640

-10.5%

-4.6%

-5.9%

 

   INVEGA SUSTENNA / XEPLION / INVEGA
   TRINZA

                               

   US

 

327

 

226

44.7%

44.7%

-

   

1,085

 

825

31.5%

31.5%

-

 

   Intl

 

197

 

192

2.6%

17.7%

-15.1%

   

745

 

763

-2.4%

14.9%

-17.3%

 

   WW

 

524

 

418

25.4%

32.4%

-7.0%

   

1,830

 

1,588

15.2%

23.5%

-8.3%

 

   RISPERDAL CONSTA

                               

   US

 

103

 

104

-1.0%

-1.0%

-

   

409

 

427

-4.2%

-4.2%

-

 

   Intl

 

131

 

190

-31.1%

-21.2%

-9.9%

   

561

 

763

-26.5%

-12.9%

-13.6%

 

   WW

 

234

 

294

-20.4%

-14.0%

-6.4%

   

970

 

1,190

-18.5%

-9.8%

-8.7%

 

   OTHER NEUROSCIENCE

                               

   US

 

147

 

164

-10.4%

-10.4%

-

   

583

 

688

-15.3%

-15.3%

-

 

   Intl

 

370

 

445

-16.9%

-6.3%

-10.6%

   

1,482

 

1,782

-16.8%

-4.5%

-12.3%

 

   WW

 

517

 

609

-15.1%

-7.4%

-7.7%

   

2,065

 

2,470

-16.4%

-7.5%

-8.9%

 

ONCOLOGY

                               

US

 

457

 

334

36.8%

36.8%

-

   

1,547

 

1,157

33.7%

33.7%

-

 

Intl

 

816

 

878

-7.1%

6.5%

-13.6%

   

3,148

 

3,300

-4.6%

12.2%

-16.8%

 

WW

 

1,273

 

1,212

5.0%

14.8%

-9.8%

   

4,695

 

4,457

5.3%

17.7%

-12.4%

 

   IMBRUVICA

                               

   US

 

122

 

64

90.6%

90.6%

-

   

375

 

145

*

*

-

 

   Intl

 

113

 

28

*

*

**

   

314

 

55

*

*

**

 

   WW

 

235

 

92

*

*

**

   

689

 

200

*

*

**

 

   VELCADE

                               

   US

 

-

 

-

-

-

-

   

-

 

-

-

-

-

 

   Intl

 

321

 

418

-23.2%

-13.5%

-9.7%

   

1,333

 

1,618

-17.6%

-4.2%

-13.4%

 

   WW

 

321

 

418

-23.2%

-13.5%

-9.7%

   

1,333

 

1,618

-17.6%

-4.2%

-13.4%

 

   ZYTIGA

                               

   US

 

286

 

255

12.2%

12.2%

-

   

1,070

 

971

10.2%

10.2%

-

 

   Intl

 

295

 

340

-13.2%

0.2%

-13.4%

   

1,161

 

1,266

-8.3%

9.0%

-17.3%

 

   WW

 

581

 

595

-2.4%

5.3%

-7.7%

   

2,231

 

2,237

-0.3%

9.5%

-9.8%

 

   OTHER ONCOLOGY

                               

   US

 

49

 

15

*

*

-

   

102

 

41

*

*

-

 

   Intl

 

87

 

92

-5.4%

10.3%

-15.7%

   

340

 

361

-5.8%

11.2%

-17.0%

 

   WW

 

136

 

107

27.1%

40.5%

-13.4%

   

442

 

402

10.0%

25.2%

-15.2%

 

CARDIOVASCULAR / METABOLISM /
OTHER (5)

                               

US

 

1,237

 

997

24.1%

24.1%

-

   

4,759

 

3,600

32.2%

32.2%

-

 

Intl

 

381

 

485

-21.4%

-9.8%

-11.6%

   

1,659

 

1,977

-16.1%

-3.9%

-12.2%

 

WW

 

1,618

 

1,482

9.2%

13.0%

-3.8%

   

6,418

 

5,577

15.1%

19.4%

-4.3%

 

   XARELTO

                               

   US

 

494

 

428

15.4%

15.4%

-

   

1,868

 

1,522

22.7%

22.7%

-

 

   Intl

 

-

 

-

-

-

-

   

-

 

-

-

-

-

 

   WW

 

494

 

428

15.4%

15.4%

-

   

1,868

 

1,522

22.7%

22.7%

-

 

   INVOKANA / INVOKAMET

                               

   US

 

348

 

193

80.3%

80.3%

-

   

1,238

 

569

*

*

-

 

   Intl

 

24

 

8

*

*

**

   

70

 

17

*

*

**

 

   WW

 

372

 

201

85.1%

87.1%

-2.0%

   

1,308

 

586

*

*

**

 

   PROCRIT / EPREX

                               

   US

 

173

 

177

-2.3%

-2.3%

-

   

692

 

715

-3.2%

-3.2%

-

 

   Intl

 

87

 

125

-30.4%

-20.0%

-10.4%

   

376

 

523

-28.1%

-15.8%

-12.3%

 

   WW

 

260

 

302

-13.9%

-9.6%

-4.3%

   

1,068

 

1,238

-13.7%

-8.5%

-5.2%

 

   OTHER

                               

   US

 

222

 

199

11.6%

11.6%

-

   

961

 

794

21.0%

21.0%

-

 

   Intl

 

270

 

352

-23.3%

-12.1%

-11.2%

   

1,213

 

1,437

-15.6%

-4.1%

-11.5%

 

   WW

 

492

 

551

-10.7%

-3.5%

-7.2%

   

2,174

 

2,231

-2.6%

4.8%

-7.4%

 
                                 

TOTAL PHARMACEUTICAL

                               

US

 

4,910

 

4,356

12.7%

12.7%

-

   

18,333

 

17,432

5.2%

5.2%

-

 

Intl

 

3,154

 

3,643

-13.4%

-0.9%

-12.5%

   

13,097

 

14,881

-12.0%

3.0%

-15.0%

 

WW

 

$    8,064

 

7,999

0.8%

6.5%

-5.7%

   

$  31,430

 

32,313

-2.7%

4.2%

-6.9%

 
                                 

See footnotes at end of schedule

                               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 
 

FOURTH QUARTER

 

TWELVE MONTHS

 
         

% Change

         

% Change

 
   

2015

 

2014

Reported

Operational (1)

Currency

   

2015

 

2014

Reported

Operational (1)

Currency

 

MEDICAL DEVICES (2) (3)

                               

CARDIOVASCULAR

                               

US

 

$       229

 

222

3.2%

3.2%

-

   

$       931

 

862

8.0%

8.0%

-

 

Intl

 

210

 

336

-37.5%

-29.4%

-8.1%

   

1,105

 

1,346

-17.9%

-5.3%

-12.6%

 

WW

 

439

 

558

-21.3%

-16.4%

-4.9%

   

2,036

 

2,208

-7.8%

-0.1%

-7.7%

 

DIABETES CARE

                               

US

 

202

 

206

-1.9%

-1.9%

-

   

833

 

864

-3.6%

-3.6%

-

 

Intl

 

278

 

308

-9.7%

5.0%

-14.7%

   

1,095

 

1,278

-14.3%

1.3%

-15.6%

 

WW

 

480

 

514

-6.6%

2.2%

-8.8%

   

1,928

 

2,142

-10.0%

-0.7%

-9.3%

 

DIAGNOSTICS (6)

                               

US

 

-

 

-

-

-

-

   

-

 

456

**

**

-

 

Intl

 

24

 

14

71.4%

**

**

   

86

 

506

-83.0%

**

**

 

WW

 

24

 

14

71.4%

**

**

   

86

 

962

-91.1%

**

**

 

ORTHOPAEDICS

                               

US 

 

1,438

 

1,339

7.4%

7.4%

-

   

5,380

 

5,197

3.5%

3.5%

-

 

Intl

 

985

 

1,102

-10.6%

1.0%

-11.6%

   

3,882

 

4,478

-13.3%

-0.3%

-13.0%

 

WW

 

2,423

 

2,441

-0.7%

4.5%

-5.2%

   

9,262

 

9,675

-4.3%

1.7%

-6.0%

 

   HIPS

                               

   US

 

213

 

194

9.8%

9.8%

-

   

781

 

745

4.8%

4.8%

-

 

   Intl

 

141

 

156

-9.6%

2.3%

-11.9%

   

551

 

623

-11.6%

1.1%

-12.7%

 

   WW

 

354

 

350

1.1%

6.4%

-5.3%

   

1,332

 

1,368

-2.6%

3.2%

-5.8%

 

   KNEES

                               

   US

 

254

 

236

7.6%

7.6%

-

   

916

 

878

4.3%

4.3%

-

 

   Intl

 

151

 

165

-8.5%

2.4%

-10.9%

   

580

 

655

-11.5%

0.7%

-12.2%

 

   WW

 

405

 

401

1.0%

5.5%

-4.5%

   

1,496

 

1,533

-2.4%

2.8%

-5.2%

 

   TRAUMA

                               

   US

 

379

 

352

7.7%

7.7%

-

   

1,462

 

1,418

3.1%

3.1%

-

 

   Intl

 

265

 

287

-7.7%

4.6%

-12.3%

   

1,066

 

1,222

-12.8%

0.6%

-13.4%

 

   WW

 

644

 

639

0.8%

6.3%

-5.5%

   

2,528

 

2,640

-4.2%

2.0%

-6.2%

 

   SPINE & OTHER

                               

   US

 

592

 

557

6.3%

6.3%

-

   

2,221

 

2,156

3.0%

3.0%

-

 

   Intl

 

428

 

494

-13.4%

-2.1%

-11.3%

   

1,685

 

1,978

-14.8%

-1.8%

-13.0%

 

   WW

 

1,020

 

1,051

-2.9%

2.4%

-5.3%

   

3,906

 

4,134

-5.5%

0.7%

-6.2%

 

SURGERY

                               

US

 

1,044

 

992

5.2%

5.2%

-

   

3,991

 

3,900

2.3%

2.3%

-

 

Intl

 

1,369

 

1,484

-7.7%

4.4%

-12.1%

   

5,226

 

5,817

-10.2%

2.9%

-13.1%

 

WW

 

2,413

 

2,476

-2.5%

4.7%

-7.2%

   

9,217

 

9,717

-5.1%

2.7%

-7.8%

 

   ADVANCED

                               

   US

 

384

 

352

9.1%

9.1%

-

   

1,430

 

1,342

6.6%

6.6%

-

 

   Intl

 

486

 

497

-2.2%

10.1%

-12.3%

   

1,845

 

1,895

-2.6%

10.8%

-13.4%

 

   WW

 

870

 

849

2.5%

9.7%

-7.2%

   

3,275

 

3,237

1.2%

9.1%

-7.9%

 

   GENERAL

                               

   US

 

430

 

432

-0.5%

-0.5%

-

   

1,702

 

1,717

-0.9%

-0.9%

-

 

   Intl

 

717

 

821

-12.7%

-1.3%

-11.4%

   

2,780

 

3,253

-14.5%

-1.9%

-12.6%

 

   WW

 

1,147

 

1,253

-8.5%

-1.0%

-7.5%

   

4,482

 

4,970

-9.8%

-1.5%

-8.3%

 

   SPECIALTY

                               

   US

 

230

 

208

10.6%

10.6%

-

   

859

 

841

2.1%

2.1%

-

 

   Intl

 

166

 

166

0.0%

14.6%

-14.6%

   

601

 

669

-10.2%

4.3%

-14.5%

 

   WW

 

396

 

374

5.9%

12.4%

-6.5%

   

1,460

 

1,510

-3.3%

3.1%

-6.4%

 

VISION CARE

                               

US

 

239

 

195

22.6%

22.6%

-

   

997

 

975

2.3%

2.3%

-

 

Intl

 

409

 

451

-9.3%

2.3%

-11.6%

   

1,611

 

1,843

-12.6%

1.5%

-14.1%

 

WW

 

648

 

646

0.3%

8.4%

-8.1%

   

2,608

 

2,818

-7.5%

1.7%

-9.2%

 
                                 

TOTAL MEDICAL DEVICES

                               

US

 

3,152

 

2,954

6.7%

6.7%

-

   

12,132

 

12,254

-1.0%

-1.0%

-

 

Intl

 

3,275

 

3,695

-11.4%

0.6%

-12.0%

   

13,005

 

15,268

-14.8%

-1.7%

-13.1%

 

WW

 

$    6,427

 

6,649

-3.3%

3.4%

-6.7%

   

$  25,137

 

27,522

-8.7%

-1.4%

-7.3%

 
                                 
                                 

* Percentage greater than 100%

                               

** Not meaningful

                               

(1) Operational growth excludes the effect of translational currency

                       

(2) Unaudited

                               

(3) Prior year amounts have been reclassified to conform to current year product disclosure

                   

(4) Reported as U.S. sales

                               

(5) Previously referred to as Other

                               

(6) Reflects Diagnostics divestiture June 30, 2014

                           
                                 

 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2015-fourth-quarter-results-300209690.html

SOURCE Johnson & Johnson

 

 

News Provided by Acquire Media