UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported):
 
October 13, 2015
 
(Exact name of registrant as specified in its charter)
 
 
New Jersey
I-3215
22-1024240
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)


One Johnson & Johnson Plaza, New Brunswick, New Jersey  08933
 
(Address of Principal Executive Offices)
 (Zip Code)
 
Registrant's telephone number, including area code:
732-524-0400
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
               CFR 240.14d-2(b))
 
o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
               CFR 240.13e-4(c))
 
 
 
 





 





Item 2.02                      Results of Operations and Financial Condition
 
On October 13, 2015, Johnson & Johnson issued the attached press release announcing its sales and earnings for the third quarter ended September 27, 2015.
 
Item 9.01            Financial Statements and Exhibits
 
Exhibit No.
 
Description of Exhibit
 
99.15
 
Press Release dated October 13, 2015 for the period ended September 27, 2015.
 
99.2O
 
Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the third quarter. 
 
 






 
 
 


 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Johnson & Johnson
 
 
 
 (Registrant)
 
 
 
 
Date: October 13, 2015
By:
/s/ Ronald A. Kapusta
 
 
 
Ronald A. Kapusta
Controller
(Principal Accounting Officer)
 








Exhibit 99.15


Johnson & Johnson Reports 2015 Third-Quarter Results:

Sales of $17.1 Billion Decreased 7.4% Versus 2014 Third Quarter
Third-Quarter EPS was $1.20
Adjusted 2015 Third-Quarter EPS of $1.49 Decreased 7.5%* Driven by Currency

Continued Solid Operational Sales Growth Excluding Hepatitis C Impact
$10 Billion Share Repurchase Program Announced Today

New Brunswick, N.J. (October 13, 2015) - Johnson & Johnson (NYSE: JNJ) today announced sales of $17.1 billion for the third quarter of 2015, a decrease of 7.4% as compared to the third quarter of 2014. Operational sales results increased 0.8% and the negative impact of currency was 8.2%. Domestic sales decreased 0.6%. International sales decreased 13.7%, reflecting operational growth of 2.1% and a negative currency impact of 15.8%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 5.6%, domestic sales increased 7.7% and international sales increased 3.8%.* Earlier today, the Company also announced its Board of Directors has approved the repurchase of up to $10 billion of the company's common stock.
Net earnings and diluted earnings per share for the third quarter of 2015 were $3.4 billion and $1.20, respectively. Third quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.4 billion and a charge for after-tax special items of approximately $0.4 billion. Third quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.3 billion and a net gain for after-tax special items of approximately $0.4 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 $4.2 billion and adjusted diluted earnings per share were $1.49, representing decreases of 9.4% and 7.5%, respectively, as compared to the same period in 2014.* On an operational basis, adjusted diluted earnings per share increased 1.2%.* 
“New and core products drove solid underlying growth for Johnson & Johnson in the quarter,” said Alex Gorsky, Chairman and Chief Executive Officer. “Consistent with the plans we’ve laid out for the year, we’re focusing our portfolio and are advancing our innovation agenda to expand our leadership position in key categories while seeking new opportunities for growth. Our dedicated employees are committed to improving healthcare and making a difference in the lives of patients and consumers worldwide.”
The Company increased its adjusted earnings guidance for full-year 2015 to $6.15 - $6.20 per share. The Company’s guidance excludes the impact of after-tax intangible amortization expense and special items.
Worldwide Consumer sales of $3.3 billion for the third quarter represented a decrease of 7.7% versus the prior year, consisting of an operational increase of 3.1% and a negative impact from currency of 10.8%. Domestic sales increased 8.9%; international sales decreased 15.7%, which reflected an operational increase of 0.4% and a negative





currency impact of 16.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 4.0%, domestic sales increased 8.9% and international sales increased 1.5%.*
Positive contributors to Consumer operational results were sales of over-the-counter products including TYLENOL® and MOTRIN® analgesics and ZYRTEC® allergy medications; international feminine protection products; AVEENO® and NEUTROGENA® skin care products; and LISTERINE® oral care products.
During the quarter, the divestiture of the SPLENDA® low calorie sweetener brand to Heartland Food Products Group was completed. This completes the divestiture of products within the nutritionals business.
Worldwide Pharmaceutical sales of $7.7 billion for the third quarter represented a decrease of 7.4% versus the prior year with an operational decrease of 0.3% and a negative impact from currency of 7.1%. Domestic sales decreased 4.5%; international sales decreased 11.1%, which reflected an operational increase of 5.5% and a negative currency impact of 16.6%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 10.1%, domestic sales increased 11.5% and international sales increased 8.5%.*
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 SIMPONI®/SIMPONI ARIA® (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; INVEGA® SUSTENNA®/XEPLION® (paliperidone palmitate), a once-monthly, long-acting, injectable atypical antipsychotic for the treatment of schizophrenia in adults; CONCERTA® (methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; and PREZCOBIX®/REZOLSTA® (darunavir/cobicistat) for the treatment of human immunodeficiency virus (HIV-1).
During the quarter, the U.S. Food and Drug Administration (FDA) granted Priority Review for the Biologic License Application for daratumumab for the treatment of double refractory multiple myeloma. Additionally, the FDA approved EDURANT® (rilpirivine), 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, as well as an update to the SIMPONI ARIA® (golimumab for infusion) label to include improvement in both physical and emotional measures of health when treating moderately to severely active rheumatoid arthritis. In the U.S., a supplemental new drug application was submitted to the FDA for IMBRUVICA® (ibrutinib) for use in treatment-naïve patients with chronic lymphocytic leukemia. In addition, Marketing Authorization Applications were submitted to the European Medicines Agency for paliperidone palmitate once-every-three-months formulation for the treatment of schizophrenia and daratumumab for the treatment of patients with relapsed and refractory multiple myeloma. The Committee for Medicinal





Products for Human Use (CHMP) of the European Medicines Agency has granted an accelerated assessment of the daratumumab Marketing Authorization Application.
Worldwide Medical Devices sales of $6.1 billion for the third quarter represented a decrease of 7.3% versus the prior year consisting of an operational increase of 0.9% and a negative currency impact of 8.2%. Domestic sales increased 2.0%; international sales decreased 14.8%, which reflected an operational increase of 0.1% and a negative currency impact of 14.9%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.3%, domestic sales increased 2.0% and international sales increased 0.8%.*
Primary contributors to operational growth were sales of ACUVUE® contact lenses in the Vision Care business; endocutters in the Surgical Care business; sales of biosurgicals and international energy products in the Specialty Surgery business; and electrophysiology products in the Cardiovascular Care business.
In October, subsequent to the third quarter, the Company announced the completion of the divestiture of its Cordis business to Cardinal Health for an approximate value of $2 billion.


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 128,000 employees at more than 265 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. 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 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 and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges 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; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; market conditions and the possibility that the 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.






Exhibit 99.2O

Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
 
Condensed Consolidated Statement of Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; in Millions Except Per Share Figures)
THIRD QUARTER
 
 
 
 
 
 
 
 
 
 
 
2015
 
2014
 
Percent
 
 
 
Percent
 
 
 
Percent
 
Increase
 
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
 $ 17,102
 
     100.0
 
 $ 18,467

 
     100.0

 
(7.4)
Cost of products sold
      5,224
 
       30.5
 
      5,399

 
       29.2

 
(3.2)
Selling, marketing and administrative expenses
      5,081
 
       29.7
 
      5,468

 
       29.6

 
(7.1)
Research and development expense
      2,154
 
       12.6
 
      2,023

 
       11.0

 
6.5
In-process research and development
           10
 
         0.1
 

 

 
 
Interest (income) expense, net
           91
 
         0.5
 
         112

 
         0.6

 
 
Other (income) expense, net
         420
 
         2.5
 
    (1,345)

 
       (7.3)

 
 
Earnings before provision for taxes on income
      4,122
 
       24.1
 
      6,810

 
       36.9

 
(39.5)
Provision for taxes on income
         764
 
         4.5
 
      2,061

 
       11.2

 
(62.9)
Net earnings
 $ 3,358
 
       19.6
 
 $ 4,749

 
       25.7

 
(29.3)
 
 
 
 
 
 
 
 
 
 
Net earnings per share (Diluted)
 $ 1.20
 
 
 
 $ 1.66

 
 
 
(27.7)
 
 
 
 
 
 
 
 
 
 
Average shares outstanding (Diluted)
2,807.2
 
 
 
2,864.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
18.5
%
 
 
30.3

%
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings before provision for taxes and net earnings (1) (A)
 
 
 
 
 
 
Earnings before provision for taxes on income
 $ 5,212
 
30.5
 
 $ 6,077

 
32.9

 
(14.2)
Net earnings
 $ 4,172
 
24.4
 
 $ 4,605

 
24.9

 
(9.4)
Net earnings per share (Diluted)
 $ 1.49
 
 
 
 $ 1.61

 
 
 
(7.5)
Effective tax rate
20.0
%
 
 
24.2

%
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) See Reconciliation of Non-GAAP Financial Measures.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.








Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
 
Condensed Consolidated Statement of Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; in Millions Except Per Share Figures)
NINE MONTHS
 
 
 
 
 
 
 
 
 
 
 
2015
 
2014
 
Percent
 
 
 
Percent
 
 
 
Percent
 
Increase
 
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
 $ 52,263

 
     100.0
 
 $ 56,077
 
     100.0
 
(6.8)
Cost of products sold
    15,863

 
       30.4
 
    16,893
 
       30.1
 
(6.1)
Selling, marketing and administrative expenses
    15,312

 
       29.3
 
    16,132
 
       28.8
 
(5.1)
Research and development expense
      6,182

 
       11.8
 
      5,859
 
       10.5
 
5.5
In-process research and development
           10

 
         0.0
 
           22
 
         0.0
 
 
Interest (income) expense, net
         317

 
         0.6
 
         344
 
         0.6
 
 
Other (income) expense, net
       (859)

 
       (1.6)
 
    (1,033)
 
       (1.8)
 
 
Earnings before provision for taxes on income
    15,438

 
       29.5
 
    17,860
 
       31.8
 
(13.6)
Provision for taxes on income
      3,244

 
         6.2
 
      4,058
 
         7.2
 
(20.1)
Net earnings
 $ 12,194

 
       23.3
 
 $ 13,802
 
       24.6
 
(11.7)
 
 
 
 
 
 
 
 
 
 
Net earnings per share (Diluted)
 $ 4.33

 
 
 
 $ 4.81
 
 
 
(10.0)
 
 
 
 
 
 
 
 
 
 
Average shares outstanding (Diluted)
2,817.1

 
 
 
2,871.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
21.0

%
 
 
22.7
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings before provision for taxes and net earnings (1) (A)
 
 
 
Earnings before provision for taxes on income
 $ 17,090

 
32.7
 
 $ 18,529
 
33.0
 
(7.8)
Net earnings
 $ 13,402

 
25.6
 
 $ 14,431
 
25.7
 
(7.1)
Net earnings per share (Diluted)
 $ 4.76

 
 
 
 $ 5.02
 
 
 
(5.2)
Effective tax rate
21.6

%
 
 
22.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) See Reconciliation of Non-GAAP Financial Measures.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.













Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
THIRD QUARTER
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
segment of business
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
 
 
 
 
 
 
 
 
    U.S.
 $ 1,277
 
    1,173
 
     8.9
%
            8.9
 

    International
      2,037
 
    2,416
 
  (15.7)
 
            0.4
 
      (16.1)

 
      3,314
   
    3,589
 
    (7.7)
 
            3.1
 
      (10.8)

 
 
 
 
 
 
 
 
 
 
Pharmaceutical
 
 
 
 
 
 
 
 
 
    U.S.
      4,509
 
    4,723
 
    (4.5)
 
          (4.5)
 

    International
      3,185
 
    3,584
 
  (11.1)
 
            5.5
 
      (16.6)

 
      7,694
   
    8,307
 
    (7.4)
 
          (0.3)
 
        (7.1)

 
 
 
 
 
 
 
 
 
 
Medical Devices
 
 
 
 
 
 
 
 
 
    U.S.
      3,005
   
    2,946
 
     2.0
 
            2.0
 

    International
      3,089
 
    3,625
 
  (14.8)
 
            0.1
 
      (14.9)

 
      6,094
   
    6,571
 
(7.3)
 
            0.9
 
        (8.2)

 
 
 
 
 
 
 
 
 
 
U.S.
      8,791
 
    8,842
 
    (0.6)
 
          (0.6)
 

International
      8,311
 
    9,625
 
  (13.7)
 
            2.1
 
      (15.8)

Worldwide
 $ 17,102
 
  18,467
 
    (7.4)
%
            0.8
 
        (8.2)








Johnson & Johnson and Subsidiaries
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
NINE MONTHS
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
segment of business
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
 
 
 
 
 
 
 
 
    U.S.
 $ 3,991
 
    3,802
 
     5.0
%
            5.0
 

    International
      6,196
 
    7,088
 
  (12.6)
 
            1.9
 
      (14.5)

 
    10,187
   
  10,890
 
    (6.5)
 
            2.9
 
        (9.4)

 
 
 
 
 
 
 
 
 
 
Pharmaceutical
 
 
 
 
 
 
 
 
 
    U.S.
    13,423
 
  13,076
 
     2.7
 
            2.7
 

    International
      9,943
 
  11,238
 
  (11.5)
 
            4.3
 
      (15.8)

 
    23,366
   
  24,314
 
    (3.9)
 
            3.4
 
        (7.3)

 
 
 
 
 
 
 
 
 
 
Medical Devices
 
 
 
 
 
 
 
 
 
    U.S.
      8,980
   
    9,300
 
    (3.4)
 
          (3.4)
 

    International
      9,730
 
  11,573
 
  (15.9)
 
          (2.4)
 
      (13.5)

 
    18,710
   
  20,873
 
  (10.4)
 
          (2.9)
 
        (7.5)

 
 
 
 
 
 
 
 
 
 
U.S.
    26,394
 
  26,178
 
     0.8
 
            0.8
 

International
    25,869
 
  29,899
 
  (13.5)
 
            1.1
 
      (14.6)

Worldwide
 $ 52,263
 
  56,077
 
    (6.8)
%
            1.0
 
        (7.8)

















Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
THIRD QUARTER
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
geographic area
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S.
 $ 8,791
 
    8,842
 
    (0.6)
%
       (0.6)
 

 
 
 
 
 
 
 
 
 
 
Europe
      3,802
 
    4,446
 
  (14.5)
 
         2.7
 
      (17.2)

Western Hemisphere excluding U.S.
      1,463
 
    1,820
 
  (19.6)
 
         2.7
 
      (22.3)

Asia-Pacific, Africa
      3,046
 
    3,359
 
    (9.3)
 
         1.2
 
      (10.5)

International
      8,311
 
    9,625
 
  (13.7)
 
         2.1
 
      (15.8)

 
  
 
  
 
  
 
  
 
  
Worldwide
 $ 17,102
 
  18,467
 
    (7.4)
%
         0.8
 
        (8.2)









Johnson & Johnson and Subsidiaries
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
NINE MONTHS
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
geographic area
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S.
 $ 26,394
 
  26,178
 
     0.8
%
         0.8
 

 
 
 
 
 
 
 
 
 
 
Europe
    11,993
 
  14,387
 
  (16.6)
 
         1.3
 
      (17.9)

Western Hemisphere excluding U.S.
      4,603
 
    5,378
 
  (14.4)
 
         2.6
 
      (17.0)

Asia-Pacific, Africa
      9,273
 
  10,134
 
    (8.5)
 
         0.1
 
        (8.6)

International
    25,869
 
  29,899
 
  (13.5)
 
         1.1
 
      (14.6)

 
  
 
  
 
  
 
  
 
  
Worldwide
 $ 52,263
 
  56,077
 
    (6.8)
%
         1.0
 
        (7.8)
















Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Third Quarter
 
% Incr. /
 
(Dollars in Millions Except Per Share Data)
2015
 
2014
 
(Decr.)
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as reported
 $ 4,122

 
   6,810

 
   (39.5)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
       639

 
      417

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain

 
  (1,948)

 
 
 
 
 
 
 
 
 
 
Litigation expense, net
       409

 
      285

 
 
 
 
 
 
 
 
 
 
Additional year of Branded Prescription Drug Fee

 
      220

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
         32

 
      167

 
 
 
 
 
 
 
 
 
 
In-process research and development
         10

 

 
 
 
 
 
 
 
 
 
 
DePuy ASRTM Hip program

 
      126

 
 
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as adjusted
 $ 5,212

 
   6,077

 
   (14.2)
 %
 
 
 
 
 
 
 
Net Earnings - as reported
 $ 3,358

 
   4,749

 
   (29.3)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
       437

 
      313

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain

 
  (1,149)

 
 
 
 
 
 
 
 
 
 
Litigation expense, net
       348

   
      231

 
 
 
 
 
 
 
 
 
 
Additional year of Branded Prescription Drug Fee

 
      220

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
         23

 
      130

 
 
 
 
 
 
 
 
 
 
In-process research and development
           6

 

 
 
 
 
 
 
 
 
 
 
DePuy ASRTM Hip program

 
      111

 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 

 
 
 
 
 
 
 
 
 
 
Net Earnings - as adjusted
 $ 4,172

 
   4,605

 
     (9.4)
 %
 
 
 
 
 
 
 
Diluted Net Earnings per share - as reported
 $ 1.20

 
     1.66

 
   (27.7)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
      0.16

 
     0.11

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain

 
    (0.40)

 
 
 
 
 
 
 
 
 
 
Litigation expense, net
      0.12

 
     0.08

 
 
 
 
 
 
 
 
 
 
Additional year of Branded Prescription Drug Fee

 
     0.08

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
      0.01

 
     0.04

 
 
 
 
 
 
 
 
 
 
In-process research and development

 

 
 
 
 
 
 
 
 
 
 
DePuy ASRTM Hip program

 
     0.04

 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 

 
 
 
 
 
 
 
 
 
 
Diluted Net Earnings per share - as adjusted
 $ 1.49

 
     1.61

 
     (7.5)
 %
 
 
 
 
 
 
 
Operational Diluted Net Earnings per share - as adjusted*
 $ 1.63

 
     1.61

 
       1.2
 %
 
 
 
 
 
 
 
*Excludes the effect of translational currency
 
 
 
 
 
 





Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months YTD
 
% Incr. /
 
(Dollars in Millions Except Per Share Data)
2015
 
2014
 
(Decr.)
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as reported
 $ 15,438

 
  17,860
 
   (13.6)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
      1,269

 
    1,259
 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
         (29)

 
  (1,948)
 
 
 
 
 
 
 
 
 
 
Litigation expense, net
         141

 
       561
 
 
 
 
 
 
 
 
 
 
Additional year of Branded Prescription Drug Fee

 
       220
 
 
 
 
 
 
 
 
 
 
Synthes integration costs
         113

 
       429
 
 
 
 
 
 
 
 
 
 
In-process research and development
           10

 
         22
 
 
 
 
 
 
 
 
 
 
DePuy ASRTM Hip program
         148

 
       126
 
 
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as adjusted
 $ 17,090

 
  18,529
 
     (7.8)
 %
 
 
 
 
 
 
 
Net Earnings - as reported
 $ 12,194

 
  13,802
 
   (11.7)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
         893

 
       938
 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
         (24)

 
  (1,149)
 
 
 
 
 
 
 
 
 
 
Litigation expense, net
         118

   
       573
 (1)  
 
 
 
 
 
 
 
 
 
Additional year of Branded Prescription Drug Fee

 
       220
 
 
 
 
 
 
 
 
 
 
Synthes integration costs
           85

 
       318
 
 
 
 
 
 
 
 
 
 
In-process research and development
             6

 
         16
 
 
 
 
 
 
 
 
 
 
DePuy ASRTM Hip program
         130

 
       111
 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 
     (398)
 
 
 
 
 
 
 
 
 
 
Net Earnings - as adjusted
 $ 13,402

 
  14,431
 
     (7.1)
 %
 
 
 
 
 
 
 
Diluted Net Earnings per share - as reported
 $ 4.33

 
      4.81
 
   (10.0)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
        0.32

 
      0.32
 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
      (0.01)

 
    (0.40)
 
 
 
 
 
 
 
 
 
 
Litigation expense, net
        0.04

 
      0.19
 
 
 
 
 
 
 
 
 
 
Additional year of Branded Prescription Drug Fee

 
      0.08
 
 
 
 
 
 
 
 
 
 
Synthes integration costs
        0.03

 
      0.11
 
 
 
 
 
 
 
 
 
 
In-process research and development

 
      0.01
 
 
 
 
 
 
 
 
 
 
DePuy ASRTM Hip program
        0.05

 
      0.04
 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 
    (0.14)
 
 
 
 
 
 
 
 
 
 
Diluted Net Earnings per share - as adjusted
 $ 4.76

 
      5.02
 
     (5.2)
 %
 
 
 
 
 
 
 
Operational Diluted Net Earnings per share - as adjusted*
 $ 5.22

 
      5.02
 
       4.0
 %
 
 
 
 
 
 
 
*Excludes the effect of translational currency
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 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) (A)
 THIRD QUARTER 2015 ACTUAL vs. 2014 ACTUAL
 
 
 
 
 
 
 
 
 
 Segments
 
 
 
 
 
 
 
 
 
 
 
 Consumer
 
 Pharmaceutical
 
 Medical Devices
 
 Total
 
 
Operational % (2)
 WW As Reported:
 
3.1%
 
(0.3)%
 
0.9%
 
0.8%
 U.S.
 
8.9%
 
(4.5)%
 
2.0%
 
(0.6)%
 International
 
0.4%
 
5.5%
 
0.1%
 
2.1%
 
 
 
 
 
 
 
 
 
Wound Care / Other
 
 
 
 
 
 
 
 
BENECOL ®
 
0.8
 
 
 
 
 
0.1
 U.S.
 
0.0
 
 
 
 
 
0.0
 International
 
1.0
 
 
 
 
 
0.2
 
 
 
 
 
 
 
 
 
Diagnostics
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics
 
 
 
 
 
0.3
 
0.1
 U.S.
 
 
 
 
 
0.0
 
0.0
 International
 
 
 
 
 
0.5
 
0.2
 
 
 
 
 
 
 
 
 
Other Neuroscience
 
 
 
 
 
 
 
 
NUCYNTA ®
 
 
 
0.4
 
 
 
0.2
 U.S.
 
 
 
0.6
 
 
 
0.4
 International
 
 
 
0.0
 
 
 
0.0
 
 
 
 
 
 
 
 
 
All Other Acquisitions and Divestitures
 
0.1
 
 
 
0.1
 
0.1
 U.S.
 
0.0
 
 
 
0.0
 
0.0
 International
 
0.1
 
 
 
0.2
 
0.1
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions and Divestitures
 
4.0%
 
0.1%
 
1.3%
 
1.3%
 U.S.
 
8.9%
 
(3.9)%
 
2.0%
 
(0.2)%
 International
 
1.5%
 
5.5%
 
0.8%
 
2.6%
 
 
 
 
 
 
 
 
 
Hepatitis C
 
 
 
10.0
 
 
 
4.3
 U.S.
 
 
 
15.4
 
 
 
7.9
 International
 
 
 
3.0
 
 
 
1.2
 
 
 
 
 
 
 
 
 
WW Ops excluding Hepatitis C only
 
 
 
9.7%
 
 
 
5.1%
 U.S.
 
 
 
10.9%
 
 
 
7.3%
 International
 
 
 
8.5%
 
 
 
3.3%
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions, Divestitures and Hepatitis C
 
4.0%
 
10.1%
 
1.3%
 
5.6%
 U.S.
 
8.9%
 
11.5%
 
2.0%
 
7.7%
 International
 
1.5%
 
8.5%
 
0.8%
 
3.8%
 
 
 
 
 
 
 
 
 
(1) Hepatitis C products include OLYSIO ® /SOVRIAD ® and INCIVO ®
 
 
(2) Operational growth excludes the effect of translational currency
 
 
 
 
 
 
 
 
 
 
 
(A)  NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales” is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the magnitude of hepatitis C product sales over a short timeframe and the variable nature of acquisitions and divestitures and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.






Johnson & Johnson and Subsidiaries
 
 
 
 
Reconciliation of Non-GAAP Financial Measure
 
 
 
 
 
 
 
 
 
 
 
 
Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C Sales (1) (A)
 NINE MONTHS 2015 ACTUAL vs. 2014 ACTUAL
 
 
 
 
 
 
 
 
 
 Segments
 
 
 
 
 
 
 
 
 
 
 
 Consumer
 
 Pharmaceutical
 
 Medical Devices
 
 Total
 
 
Operational % (2)
 WW As Reported:
 
2.9%
 
3.4%
 
(2.9)%
 
1.0%
 U.S.
 
5.0%
 
2.7%
 
(3.4)%
 
0.8%
 International
 
1.9%
 
4.3%
 
(2.4)%
 
1.1%
 
 
 
 
 
 
 
 
 
Women's Health
 
 
 
 
 
 
 
 
K-Y ®
 
0.3
 
 
 
 
 
0.1
 U.S.
 
0.5
 
 
 
 
 
0.1
 International
 
0.2
 
 
 
 
 
0.1
 
 
 
 
 
 
 
 
 
Wound Care / Other
 
 
 
 
 
 
 
 
BENECOL ®
 
0.8
 
 
 
 
 
0.1
 U.S.
 
0.0
 
 
 
 
 
0.0
 International
 
1.1
 
 
 
 
 
0.3
 
 
 
 
 
 
 
 
 
Diagnostics
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics
 
 
 
 
 
4.2
 
1.6
 U.S.
 
 
 
 
 
4.9
 
1.8
 International
 
 
 
 
 
3.6
 
1.4
 
 
 
 
 
 
 
 
 
Other Neuroscience
 
 
 
 
 
 
 
 
NUCYNTA ®
 
 
 
0.3
 
 
 
0.1
 U.S.
 
 
 
0.5
 
 
 
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
 
(0.2)
 
 
 
0.1
 
0.0
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions and Divestitures
 
3.9%
 
3.7%
 
1.4%
 
2.9%
 U.S.
 
5.5%
 
3.2%
 
1.5%
 
3.0%
 International
 
3.0%
 
4.3%
 
1.3%
 
2.9%
 
 
 
 
 
 
 
 
 
Hepatitis C
 
 
 
7.3
 
 
 
3.0
 U.S.
 
 
 
13.9
 
 
 
6.5
 International
 
 
 
0.2
 
 
 
0.0
 
 
 
 
 
 
 
 
 
WW Ops excluding Hepatitis C only
 
 
 
10.7%
 
 
 
4.0%
 U.S.
 
 
 
16.6%
 
 
 
7.3%
 International
 
 
 
4.5%
 
 
 
1.1%
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions, Divestitures and Hepatitis C
 
3.9%
 
11.0%
 
1.4%
 
5.9%
 U.S.
 
5.5%
 
17.1%
 
1.5%
 
9.5%
 International
 
3.0%
 
4.5%
 
1.3%
 
2.9%
 
 
 
 
 
 
 
 
 
(1) Hepatitis C products include OLYSIO ® /SOVRIAD ® and INCIVO ®
 
 
(2) Operational growth excludes the effect of translational currency
 
 
 
 
 
 
 
 
 
 
 
(A)  NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales” is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the magnitude of hepatitis C product sales over a short timeframe and the variable nature of acquisitions and divestitures and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.






Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
THIRD QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

CONSUMER SEGMENT (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BABY CARE
 
 
 
 
 
 
 
 
 
US
 
$
103

 
102

 
1.0
 %
1.0
 %
 %
Intl
 
 
403

 
461

 
(12.6
)
2.1

(14.7
)
WW
 
 
506

 
563

 
(10.1
)
2.0

(12.1
)
 
 
 
 
 
 
 
 
 
 
ORAL CARE
 
 
 
 
 
 
 
 
 
US
 
 
154

 
148

 
4.1

4.1


Intl
 
 
224

 
261

 
(14.2
)
3.2

(17.4
)
WW
 
 
378

 
409

 
(7.6
)
3.5

(11.1
)
 
 
 
 
 
 
 
 
 
 
OTC
 
 
 
 
 
 
 
 
 
US
 
 
383

 
313

 
22.4

22.4


Intl
 
 
580

 
706

 
(17.8
)
(0.7
)
(17.1
)
WW
 
 
963

 
1,019

 
(5.5
)
6.3

(11.8
)
 
 
 
 
 
 
 
 
 
 
SKIN CARE
 
 
 
 
 
 
 
 
 
US
 
 
435

 
400

 
8.8

8.8


Intl
 
 
428

 
520

 
(17.7
)
(2.3
)
(15.4
)
WW
 
 
863

 
920

 
(6.2
)
2.5

(8.7
)
 
 
 
 
 
 
 
 
 
 
WOMEN'S HEALTH
 
 
 
 
 
 
 
 
 
US
 
 
6

 
8

 
(25.0
)
(25.0
)

Intl
 
 
304

 
317

 
(4.1
)
14.2

(18.3
)
WW
 
 
310

 
325

 
(4.6
)
13.3

(17.9
)
 
 
 
 
 
 
 
 
 
 
WOUND CARE/OTHER
 
 
 
 
 
 
 
 
 
US
 
 
196

 
202

 
(3.0
)
(3.0
)

Intl
 
 
98

 
151

 
(35.1
)
(23.9
)
(11.2
)
WW
 
 
294

 
353

 
(16.7
)
(11.9
)
(4.8
)
 
 
 
 
 
 
 
 
 
 
TOTAL CONSUMER
 
 
 
 
 
 
 
 
 
US
 
 
1,277

 
1,173

 
8.9

8.9


Intl
 
 
2,037

 
2,416

 
(15.7
)
0.4

(16.1
)
WW
 
$
3,314

 
3,589

 
(7.7
)%
3.1
 %
(10.8
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 






Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
THIRD QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IMMUNOLOGY
 
 
 
 
 
 
 
 
 
US
 
$
1,910

 
1,895

 
0.8
 %
0.8
 %
 %
Intl
 
 
704

 
746

 
(5.6
)
13.5

(19.1
)
WW
 
 
2,614

 
2,641

 
(1.0
)
4.4

(5.4
)
     REMICADE
 
 
 
 
 
 
 
 
 
     US
 
 
1,117

 
1,085
 
2.9

2.9


     US Exports (4)
 
 
180

 
310

 
(41.9
)
(41.9
)

     Intl
 
 
316

 
387

 
(18.3
)
(1.6
)
(16.7
)
     WW
 
 
1,613

 
1,782

 
(9.5
)
(5.9
)
(3.6
)
     SIMPONI / SIMPONI ARIA
 
 
 
 
 
 
 
 
 
     US
 
 
199

 
144

 
38.2

38.2


     Intl
 
 
181

 
156

 
16.0

40.7

(24.7
)
     WW
 
 
380

 
300

 
26.7

39.6

(12.9
)
     STELARA
 
 
 
 
 
 
 
 
 
     US
 
 
414

 
356

 
16.3

16.3


     Intl
 
 
199

 
187

 
6.4

26.3

(19.9
)
     WW
 
 
613

 
543

 
12.9

19.7

(6.8
)
     OTHER IMMUNOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
8

 
16

 
(50.0
)
(37.2
)
(12.8
)
     WW
 
 
8

 
16

 
(50.0
)
(37.2
)
(12.8
)
 
 
 
 
 
 
 
 
 
 
INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
US
 
 
379

 
967

 
(60.8
)
(60.8
)

Intl
 
 
469

 
594

 
(21.0
)
(5.7
)
(15.3
)
WW
 
 
848

 
1,561

 
(45.7
)
(39.9
)
(5.8
)
     EDURANT
 
 
 
 
 
 
 
 
 
     US
 
 
11

 
7

 
57.1

57.1


     Intl
 
 
100

 
95

 
5.3

25.4

(20.1
)
     WW
 
 
111

 
102

 
8.8

27.6

(18.8
)
     OLYSIO / SOVRIAD
 
 
 
 
 
 
 
 
 
     US
 
 
26

 
671

 
(96.1
)
(96.1
)

     Intl
 
 
53

 
125

 
(57.6
)
(49.5
)
(8.1
)
     WW
 
 
79

 
796

 
(90.1
)
(88.8
)
(1.3
)
     PREZISTA / PREZCOBIX / REZOLSTA
 
 
 
 
 
 
 
 
 
     US
 
 
285

 
234

 
21.8

21.8


     Intl
 
 
183

 
212

 
(13.7
)
4.3

(18.0
)
     WW
 
 
468

 
446

 
4.9

13.4

(8.5
)
     OTHER INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
     US
 
 
57

 
55

 
3.6

3.6


     Intl
 
 
133

 
162

 
(17.9
)
(3.4
)
(14.5
)
     WW
 
 
190

 
217

 
(12.4
)
(1.6
)
(10.8
)
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 





Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
THIRD QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEUROSCIENCE
 
 
 
 
 
 
 
 
 
US
 
$
655

 
606

 
8.1
 %
8.1
 %
 %
Intl
 
 
821

 
965

 
(14.9
)
0.4

(15.3
)
WW
 
 
1,476

 
1,571

 
(6.0
)
3.4

(9.4
)
     CONCERTA / METHYLPHENIDATE
 
 
 
 
 
 
 
 
 
     US
 
 
89

 
34

 
*

*


     Intl
 
 
89

 
101

 
(11.9
)
3.9

(15.8
)
     WW
 
 
178

 
135

 
31.9

43.7

(11.8
)
     INVEGA / PALIPERIDONE
 
 
 
 
 
 
 
 
 
     US
 
 
82

 
89

 
(7.9
)
(7.9
)

     Intl
 
 
57

 
67

 
(14.9
)
(0.4
)
(14.5
)
     WW
 
 
139

 
156

 
(10.9
)
(4.7
)
(6.2
)
     INVEGA SUSTENNA / XEPLION / INVEGA TRINZA
 
 
 
 
 
 
 
     US
 
 
277

 
215

 
28.8

28.8


     Intl
 
 
182

 
188

 
(3.2
)
14.9

(18.1
)
     WW
 
 
459

 
403

 
13.9

22.4

(8.5
)
     RISPERDAL CONSTA
 
 
 
 
 
 
 
 
 
     US
 
 
103

 
107

 
(3.7
)
(3.7
)

     Intl
 
 
132

 
177

 
(25.4
)
(10.6
)
(14.8
)
     WW
 
 
235

 
284

 
(17.3
)
(8.1
)
(9.2
)
     OTHER NEUROSCIENCE
 
 
 
 
 
 
 
 
 
     US
 
 
104

 
161

 
(35.4
)
(35.4
)

     Intl
 
 
361

 
432

 
(16.4
)
(2.0
)
(14.4
)
     WW
 
 
465

 
593

 
(21.6
)
(11.2
)
(10.4
)
 
 
 
 
 
 
 
 
 
 
ONCOLOGY
 
 
 
 
 
 
 
 
 
US
 
 
394

 
305

 
29.2

29.2


Intl
 
 
776

 
807

 
(3.8
)
14.3

(18.1
)
WW
 
 
1,170

 
1,112

 
5.2

18.4

(13.2
)
     IMBRUVICA
 
 
 
 
 
 
 
 
 
     US
 
 
98

 
42

 
*

*


     Intl
 
 
86

 
14

 
*

*

**

     WW
 
 
184

 
56

 
*

*

**

     VELCADE
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
329

 
389

 
(15.4
)
0.1

(15.5
)
     WW
 
 
329

 
389

 
(15.4
)
0.1

(15.5
)
     ZYTIGA
 
 
 
 
 
 
 
 
 
     US
 
 
276

 
252

 
9.5

9.5


     Intl
 
 
272

 
316

 
(13.9
)
3.4

(17.3
)
     WW
 
 
548

 
568

 
(3.5
)
6.1

(9.6
)
     OTHER ONCOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 
20

 
11

 
81.8

81.8


     Intl
 
 
89

 
88

 
1.1

19.3

(18.2
)
     WW
 
 
109

 
99

 
10.1

26.2

(16.1
)
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 




Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
THIRD QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR / METABOLISM / OTHER(5)
 
 
 
 
 
 
US
 
$
1,171

 
950

 
23.3
 %
23.3
 %
 %
Intl
 
 
415

 
472

 
(12.1
)
1.8

(13.9
)
WW
 
 
1,586

 
1,422

 
11.5

16.1

(4.6
)
     XARELTO
 
 
 
 
 
 
 
 
 
     US
 
 
461

 
414

 
11.4

11.4


     Intl
 
 

 

 



     WW
 
 
461

 
414

 
11.4

11.4


     INVOKANA / INVOKAMET
 
 
 
 
 
 
 
 
 
     US
 
 
322

 
169

 
90.5

90.5


     Intl
 
 
18

 
5

 
*

*

**

     WW
 
 
340

 
174

 
95.4

97.3

(1.9
)
     PROCRIT / EPREX
 
 
 
 
 
 
 
 
 
     US
 
 
177

 
184

 
(3.8
)
(3.8
)

     Intl
 
 
86

 
123

 
(30.1
)
(17.1
)
(13.0
)
     WW
 
 
263

 
307

 
(14.3
)
(9.1
)
(5.2
)
     OTHER
 
 
 
 
 
 
 
 
 
     US
 
 
211

 
183

 
15.3

15.3


     Intl
 
 
311

 
344

 
(9.6
)
3.8

(13.4
)
     WW
 
 
522

 
527

 
(0.9
)
7.9

(8.8
)
 
 
 
 
 
 
 
 
 
 
TOTAL PHARMACEUTICAL
 
 
 
 
 
 
 
 
 
US
 
 
4,509

 
4,723

 
(4.5
)
(4.5
)

Intl
 
 
3,185

 
3,584

 
(11.1
)
5.5

(16.6
)
WW
 
$
7,694

 
8,307

 
(7.4
)%
(0.3
)%
(7.1
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 





Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
THIRD QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

MEDICAL DEVICES (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR CARE
 
 
 
 
 
 
US
 
$
239

 
221

 
8.1
 %
8.1
 %
 %
Intl
 
 
285

 
321

 
(11.2
)
3.1

(14.3
)
WW
 
 
524

 
542

 
(3.3
)
5.2

(8.5
)
 
 
 
 
 
 
 
 
 
 
DIABETES CARE
 
 
 
 
 
 
 
 
 
US
 
 
205

 
244

 
(16.0
)
(16.0
)

Intl
 
 
265

 
314

 
(15.6
)
1.1

(16.7
)
WW
 
 
470

 
558

 
(15.8
)
(6.4
)
(9.4
)
 
 
 
 
 
 
 
 
 
 
DIAGNOSTICS(6)
 
 
 
 
 
 
 
 
 
US
 
 

 

 



Intl
 
 
16

 
44

 
(63.6
)
(39.8
)
(23.8
)
WW
 
 
16

 
44

 
(63.6
)
(39.8
)
(23.8
)
 
 
 
 
 
 
 
 
 
 
ORTHOPAEDICS
 
 
 
 
 
 
 
 
 
US
 
 
1,312

 
1,272

 
3.1

3.1


Intl
 
 
869

 
1,072

 
(18.9
)
(5.0
)
(13.9
)
WW
 
 
2,181

 
2,344

 
(7.0
)
(0.7
)
(6.3
)
 
 
 
 
 
 
 
 
 
 
SPECIALTY SURGERY / OTHER
 
 
 
 
US
 
 
420

 
413

 
1.7

1.7


Intl
 
 
401

 
445

 
(9.9
)
5.1

(15.0
)
WW
 
 
821

 
858

 
(4.3
)
3.5

(7.8
)
 
 
 
 
 
 
 
 
 
 
SURGICAL CARE
 
 
 
 
US
 
 
567

 
564

 
0.5

0.5


Intl
 
 
832

 
957

 
(13.1
)
1.1

(14.2
)
WW
 
 
1,399

 
1,521

 
(8.0
)
0.9

(8.9
)
 
 
 
 
 
 
 
 
 
 
VISION CARE
 
 
 
 
 
 
 
 
 
US
 
 
262

 
232

 
12.9

12.9


Intl
 
 
421

 
472

 
(10.8
)
5.8

(16.6
)
WW
 
 
683

 
704

 
(3.0
)
8.1

(11.1
)
 
 
 
 
 
 
 
 
 
 
TOTAL MEDICAL DEVICES
 
 
US
 
 
3,005

 
2,946

 
2.0

2.0


Intl
 
 
3,089

 
3,625

 
(14.8
)
0.1

(14.9
)
WW
 
$
6,094

 
6,571

 
(7.3
)%
0.9
 %
(8.2
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
NINE MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

CONSUMER SEGMENT (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BABY CARE
 
 
 
 
 
 
 
 
 
US
 
$
318

 
311

 
2.3
 %
2.3
 %
 %
Intl
 
 
1,242

 
1,404

 
(11.5
)
0.1

(11.6
)
WW
 
 
1,560

 
1,715

 
(9.0
)
0.5

(9.5
)
 
 
 
 
 
 
 
 
 
 
ORAL CARE
 
 
 
 
 
 
 
 
 
US
 
 
459

 
450

 
2.0

2.0


Intl
 
 
713

 
783

 
(8.9
)
5.7

(14.6
)
WW
 
 
1,172

 
1,233

 
(4.9
)
4.4

(9.3
)
 
 
 
 
 
 
 
 
 
 
OTC
 
 
 
 
 
 
 
 
 
US
 
 
1,154

 
995

 
16.0

16.0


Intl
 
 
1,776

 
2,038

 
(12.9
)
4.1

(17.0
)
WW
 
 
2,930

 
3,033

 
(3.4
)
8.1

(11.5
)
 
 
 
 
 
 
 
 
 
 
SKIN CARE
 
 
 
 
 
 
 
 
 
US
 
 
1,418

 
1,363

 
4.0

4.0


Intl
 
 
1,242

 
1,439

 
(13.7
)
0.1

(13.8
)
WW
 
 
2,660

 
2,802

 
(5.1
)
2.0

(7.1
)
 
 
 
 
 
 
 
 
 
 
WOMEN'S HEALTH
 
 
 
 
 
 
 
 
 
US
 
 
19

 
43

 
(55.8
)
(55.8
)

Intl
 
 
898

 
951

 
(5.6
)
10.4

(16.0
)
WW
 
 
917

 
994

 
(7.7
)
7.6

(15.3
)
 
 
 
 
 
 
 
 
 
 
WOUND CARE/OTHER
 
 
 
 
 
 
 
 
 
US
 
 
623

 
640

 
(2.7
)
(2.7
)

Intl
 
 
325

 
473

 
(31.3
)
(20.8
)
(10.5
)
WW
 
 
948

 
1,113

 
(14.8
)
(10.3
)
(4.5
)
 
 
 
 
 
 
 
 
 
 
TOTAL CONSUMER
 
 
 
 
 
 
 
 
 
US
 
 
3,991

 
3,802

 
5.0

5.0


Intl
 
 
6,196

 
7,088

 
(12.6
)
1.9

(14.5
)
WW
 
$
10,187

 
10,890

 
(6.5
)%
2.9
 %
(9.4
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
NINE MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IMMUNOLOGY
 
 
 
 
 
 
 
 
 
US
 
$
5,541

 
5,295

 
4.6
 %
4.6
 %
 %
Intl
 
 
2,090

 
2,320

 
(9.9
)
6.6

(16.5
)
WW
 
 
7,631

 
7,615

 
0.2

5.2

(5.0
)
     REMICADE
 
 
 
 
 
 
 
 
 
     US
 
 
3,260

 
3,103

 
5.1

5.1


     US Exports (4)
 
 
602

 
834

 
(27.8
)
(27.8
)

     Intl
 
 
1,019

 
1,259

 
(19.1
)
(5.0
)
(14.1
)
     WW
 
 
4,881

 
5,196

 
(6.1
)
(2.7
)
(3.4
)
     SIMPONI / SIMPONI ARIA
 
 
 
 
 
 
 
 
 
     US
 
 
526

 
380

 
38.4

38.4


     Intl
 
 
462

 
461

 
0.2

20.1

(19.9
)
     WW
 
 
988

 
841

 
17.5

28.4

(10.9
)
     STELARA
 
 
 
 
 
 
 
 
 
     US
 
 
1,153

 
978

 
17.9

17.9


     Intl
 
 
579

 
549

 
5.5

25.2

(19.7
)
     WW
 
 
1,732

 
1,527

 
13.4

20.5

(7.1
)
     OTHER IMMUNOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
30

 
51

 
(41.2
)
(31.4
)
(9.8
)
     WW
 
 
30

 
51

 
(41.2
)
(31.4
)
(9.8
)
 
 
 
 
 
 
 
 
 
 
INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
US
 
 
1,172

 
2,548

 
(54.0
)
(54.0
)

Intl
 
 
1,683

 
1,975

 
(14.8
)
2.4

(17.2
)
WW
 
 
2,855

 
4,523

 
(36.9
)
(29.4
)
(7.5
)
     EDURANT
 
 
 
 
 
 
 
 
 
     US
 
 
29

 
18

 
61.1

61.1


     Intl
 
 
274

 
257

 
6.6

29.1

(22.5
)
     WW
 
 
303

 
275

 
10.2

31.3

(21.1
)
     OLYSIO / SOVRIAD
 
 
 
 
 
 
 
 
 
     US
 
 
174

 
1,687

 
(89.7
)
(89.7
)

     Intl
 
 
403

 
294

 
37.1

66.0

(28.9
)
     WW
 
 
577

 
1,981

 
(70.9
)
(66.6
)
(4.3
)
     PREZISTA / PREZCOBIX / REZOLSTA
 
 
 
 
 
 
 
 
 
     US
 
 
777

 
687

 
13.1

13.1


     Intl
 
 
566

 
696

 
(18.7
)
(2.0
)
(16.7
)
     WW
 
 
1,343

 
1,383

 
(2.9
)
5.5

(8.4
)
     OTHER INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
     US
 
 
192

 
156

 
23.1

23.1


     Intl
 
 
440

 
728

 
(39.6
)
(28.6
)
(11.0
)
     WW
 
 
632

 
884

 
(28.5
)
(19.4
)
(9.1
)
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
NINE MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEUROSCIENCE
 
 
 
 
 
 
 
 
 
US
 
$
2,098

 
1,807

 
16.1
 %
16.1
 %
 %
Intl
 
 
2,560

 
3,029

 
(15.5
)
(1.1
)
(14.4
)
WW
 
 
4,658

 
4,836

 
(3.7
)
5.3

(9.0
)
     CONCERTA / METHYLPHENIDATE
 
 
 
 
 
 
 
 
 
     US
 
 
317

 
97

 
*

*


     Intl
 
 
291

 
333

 
(12.6
)
0.9

(13.5
)
     WW
 
 
608

 
430

 
41.4

51.9

(10.5
)
     INVEGA / PALIPERIDONE
 
 
 
 
 
 
 
 
 
     US
 
 
281

 
264

 
6.4

6.4


     Intl
 
 
179

 
215

 
(16.7
)
(2.1
)
(14.6
)
     WW
 
 
460

 
479

 
(4.0
)
2.6

(6.6
)
     INVEGA SUSTENNA / XEPLION / INVEGA TRINZA
 
 
 
 
 
 
 
     US
 
 
758

 
599

 
26.5

26.5


     Intl
 
 
548

 
571

 
(4.0
)
14.0

(18.0
)
     WW
 
 
1,306

 
1,170

 
11.6

20.4

(8.8
)
     RISPERDAL CONSTA
 
 
 
 
 
 
 
 
 
     US
 
 
306

 
323

 
(5.3
)
(5.3
)

     Intl
 
 
430

 
573

 
(25.0
)
(10.2
)
(14.8
)
     WW
 
 
736

 
896

 
(17.9
)
(8.4
)
(9.5
)
     OTHER NEUROSCIENCE
 
 
 
 
 
 
 
 
 
     US
 
 
436

 
524

 
(16.8
)
(16.8
)

     Intl
 
 
1,112

 
1,337

 
(16.8
)
(3.9
)
(12.9
)
     WW
 
 
1,548

 
1,861

 
(16.8
)
(7.5
)
(9.3
)
 
 
 
 
 
 
 
 
 
 
ONCOLOGY
 
 
 
 
 
 
 
 
 
US
 
 
1,090

 
823

 
32.4

32.4


Intl
 
 
2,332

 
2,422

 
(3.7
)
14.2

(17.9
)
WW
 
 
3,422

 
3,245

 
5.5

18.9

(13.4
)
     IMBRUVICA
 
 
 
 
 
 
 
 
 
     US
 
 
253

 
81

 
*

*


     Intl
 
 
201

 
27

 
*

*

**

     WW
 
 
454

 
108

 
*

*

**

     VELCADE
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
1,012

 
1,200

 
(15.7
)
(1.0
)
(14.7
)
     WW
 
 
1,012

 
1,200

 
(15.7
)
(1.0
)
(14.7
)
     ZYTIGA
 
 
 
 
 
 
 
 
 
     US
 
 
784

 
716

 
9.5

9.5


     Intl
 
 
866

 
926

 
(6.5
)
12.2

(18.7
)
     WW
 
 
1,650

 
1,642

 
0.5

11.0

(10.5
)
     OTHER ONCOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 
53

 
26

 
*

*


     Intl
 
 
253

 
269

 
(5.9
)
11.5

(17.4
)
     WW
 
 
306

 
295

 
3.7

19.5

(15.8
)
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
NINE MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR / METABOLISM / OTHER(5)
 
 
 
 
 
 
US
 
$
3,522

 
2,603

 
35.3
 %
35.3
 %
 %
Intl
 
 
1,278

 
1,492

 
(14.3
)
(1.9
)
(12.4
)
WW
 
 
4,800

 
4,095

 
17.2

21.7

(4.5
)
     XARELTO
 
 
 
 
 
 
 
 
 
     US
 
 
1,374

 
1,094

 
25.6

25.6


     Intl
 
 

 

 



     WW
 
 
1,374

 
1,094

 
25.6

25.6


     INVOKANA / INVOKAMET
 
 
 
 
 
 
 
 
 
     US
 
 
890

 
376

 
*

*


     Intl
 
 
46

 
9

 
*

*

**

     WW
 
 
936

 
385

 
*

*

**

     PROCRIT / EPREX
 
 
 
 
 
 
 
 
 
     US
 
 
519

 
538

 
(3.5
)
(3.5
)

     Intl
 
 
289

 
398

 
(27.4
)
(14.4
)
(13.0
)
     WW
 
 
808

 
936

 
(13.7
)
(8.2
)
(5.5
)
     OTHER
 
 
 
 
 
 
 
 
 
     US
 
 
739

 
595

 
24.2

24.2


     Intl
 
 
943

 
1,085

 
(13.1
)
(1.5
)
(11.6
)
     WW
 
 
1,682

 
1,680

 
0.1

7.6

(7.5
)
 
 
 
 
 
 
 
 
 
 
TOTAL PHARMACEUTICAL
 
 
 
 
 
 
 
 
 
US
 
 
13,423

 
13,076

 
2.7

2.7


Intl
 
 
9,943

 
11,238

 
(11.5
)
4.3

(15.8
)
WW
 
$
23,366

 
24,314

 
(3.9
)%
3.4
 %
(7.3
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
NINE MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

MEDICAL DEVICES (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR CARE
 
 
 
 
 
 
US
 
$
702

 
640

 
9.7
 %
9.7
 %
 %
Intl
 
 
895

 
1,010

 
(11.4
)
2.7

(14.1
)
WW
 
 
1,597

 
1,650

 
(3.2
)
5.4

(8.6
)
 
 
 
 
 
 
 
 
 
 
DIABETES CARE
 
 
 
 
 
 
 
 
 
US
 
 
631

 
658

 
(4.1
)
(4.1
)
Intl
 
 
817

 
970

 
(15.8
)
0.1

(15.9
)
WW
 
 
1,448

 
1,628

 
(11.1
)
(1.6
)
(9.5
)
 
 
 
 
 
 
 
 
 
 
DIAGNOSTICS(6)
 
 
 
 
 
 
 
 
 
US
 
 

 
456

 
**

**


Intl
 
 
62

 
492

 
(87.4
)
(82.7
)
(4.7
)
WW
 
 
62

 
948

 
(93.5
)
(91.0
)
(2.5
)
 
 
 
 
 
 
 
 
 
 
ORTHOPAEDICS
 
 
 
 
 
 
 
 
 
US
 
 
3,942

 
3,858

 
2.2

2.2


Intl
 
 
2,897

 
3,376

 
(14.2
)
(0.8
)
(13.4
)
WW
 
 
6,839

 
7,234

 
(5.5
)
0.8

(6.3
)
 
 
 
 
 
 
 
 
 
 
SPECIALTY SURGERY / OTHER
 
 
 
 
US
 
 
1,275

 
1,254

 
1.7

1.7


Intl
 
 
1,258

 
1,383

 
(9.0
)
4.8

(13.8
)
WW
 
 
2,533

 
2,637

 
(3.9
)
3.3

(7.2
)
 
 
 
 
 
 
 
 
 
 
SURGICAL CARE
 
 
 
 
US
 
 
1,672

 
1,654

 
1.1

1.1


Intl
 
 
2,599

 
2,950

 
(11.9
)
1.4

(13.3
)
WW
 
 
4,271

 
4,604

 
(7.2
)
1.3

(8.5
)
 
 
 
 
 
 
 
 
 
 
VISION CARE
 
 
 
 
 
 
 
 
 
US
 
 
758

 
780

 
(2.8
)
(2.8
)

Intl
 
 
1,202

 
1,392

 
(13.6
)
1.4

(15.0
)
WW
 
 
1,960

 
2,172

 
(9.8
)
(0.2
)
(9.6
)
 
 
 
 
 
 
 
 
 
 
TOTAL MEDICAL DEVICES
 
 
US
 
 
8,980

 
9,300

 
(3.4
)
(3.4
)

Intl
 
 
9,730

 
11,573

 
(15.9
)
(2.4
)
(13.5
)
WW
 
$
18,710

 
20,873

 
(10.4
)%
(2.9
)%
(7.5
)%
 
 
 
 
 
 
 
 
 
 
* 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


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