EMPLOYEE STOCK BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2011

EMPLOYEE STOCK BENEFIT PLANS

Schedule of assumptions used in the valuations of stock options

	2011		2010		2009
	Black-Scholes Model		Black-Scholes Model		Black-Scholes Model		Monte Carlo Model
Expected volatility		26.7%		23.2%		23.8%		28.7%
Risk-free interest rate		2.6%		2.7%		2.3%		3.0%
Dividend yield		1.7%		1.8%		2.9%		2.9%
Expected life		6.0 years		6.0 years		6.3 years		6.8 years

Schedule of stock option activity

	Shares (in thousands)			Weighted Average Exercise Price of Shares		Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in millions)
Outstanding—January 1, 2009		—		$	—
Granted		1,030			26.80
Exercised		—			—
Forfeited or expired		(33	)		27.24
Balance—December 31, 2009		997			26.79		9.2	$	26.7
Granted		550			46.71
Exercised		(80	)		26.96			$	2.1
Forfeited or expired		(63	)		31.82
Balance—December 31, 2010		1,404			34.36		8.6	$	48.2
Granted		558			59.18
Exercised		(140	)		31.65			$	5.2
Forfeited or expired		(33	)		45.03
Balance—December 31, 2011		1,789			42.12		8.1	$	47.6
Vested—December 31, 2011		480			33.02		7.5	$	17.1
Vested and expected to vest—December 31, 2011		1,695			42.12		8.1	$	45.1

Summary of performance share awards activity

Grant Date	Performance Cycle Measurement Date	Shares Granted and Earned (in thousands)		Weighted- Average Grant- Date Fair Value		Performance Shares Outstanding at December 31, 2011
March 2, 2011	Annually on 12/31		275	$	57.03		271
February 24, 2010	Annually on 12/31		237	$	44.38		219
March 11, 2009	Annually on 12/31		153	$	26.58		141

Summary of restricted stock unit activity

	Shares (in thousands)			Weighted- Average Grant Date Fair Value
Nonvested restricted stock units—January 1, 2009		—		$	—
Granted		677			34.09
Vested		(4	)		44.12
Forfeited		(11	)		25.02
Nonvested restricted stock units—December 31, 2009		662			34.18
Granted		150			47.53
Vested		(172	)		42.16
Forfeited		(52	)		35.37
Nonvested restricted stock units—December 31, 2010		588			35.15
Granted		134			59.40
Vested		(170	)		44.44
Forfeited		(19	)		40.39
Nonvested restricted stock units—December 31, 2011		533			38.09

Summary of stock-based compensation expense by award type

	Years Ended December 31,
(In millions)	2011			2010			2009
MJN stock options	$	5.9		$	3.8		$	2.6
MJN performance share awards		22.8			5.6			1.3
MJN restricted stock units		11.2			10.3			1.4
BMS stock benefit plans		—			—			12.4
Total pretax stock-based compensation expense	$	39.9		$	19.7		$	17.7
Net tax benefit related to stock-based compensation expense	$	(14.1	)	$	(6.8	)	$	(5.6	)

Schedule of stock-based compensation expense recognized in the consolidated statements of earnings

	Years Ended December 31,
(Dollars in millions)	2011		2010		2009
Cost of products sold	$	4.0	$	2.0	$	1.8
Selling, general and administrative		31.9		15.7		14.1
Research and development		4.0		2.0		1.8
Total stock-based compensation expense	$	39.9	$	19.7	$	17.7