-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BLEdVcBlHaIr8FbqW6IRF4ZHCUJNoCqp0L4ko715hofLt9IROVDyJuzU4vvufeoF NA/smwaZPDjZZenM23OcNw== 0000200406-02-000004.txt : 20020430 0000200406-02-000004.hdr.sgml : 20020430 ACCESSION NUMBER: 0000200406-02-000004 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20020430 ITEM INFORMATION: Other events FILED AS OF DATE: 20020430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JOHNSON & JOHNSON CENTRAL INDEX KEY: 0000200406 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 221024240 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-03215 FILM NUMBER: 02625887 BUSINESS ADDRESS: STREET 1: ONE JOHNSON & JOHNSON PLZ CITY: NEW BRUNSWICK STATE: NJ ZIP: 08933 BUSINESS PHONE: 7325242454 8-K/A 1 twothousandtwoeitfeightka.txt EIGHTKA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8K-A Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 30, 2002 JOHNSON & JOHNSON (Exact name of registrant as specified in its charter) New Jersey 1-3215 22-1024240 (State or other Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 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 Item 5. Other Events. On April 30, 2002, Johnson & Johnson ("J&J") filed certain unaudited financial information related to J&J and subsidiaries for the 11 year period ended December 30, 2001. This financial data gives retroactive effect for J&J's adoption of Emerging Issues Task Force ("EITF") Issue No. 01-09, "Accounting for Consideration Given by a Vendor to a Customer or a Reseller of the Vendor's Products." The purpose of EITF Issue 01-09 is to codify and reconcile the EITF consensus on EITF Issue 00-14 "Accounting for Certain Sales Incentives", EITF Issue 00-22 "Accounting for `Points' and Certain Other Time-Based or Volume- Based Sales Incentive Offers, and Offers for Free Products or Services to Be Delivered in the Future" (Issue 3 only), and EITF Issue 00-25 "Vendor Income Statement Characterization of Consideration Paid to a Reseller of the Vendor's Products" and identify other related interpretive issues that have not yet been addressed by the EITF. Filed as Exhibit 99.15 to this Form 8K-A are the unaudited consolidated statements of earnings of J&J and subsidiaries as of December 30, 2001 and the 11 years prior to this date together with the related data for segments of business for the three year period ended December 30, 2001. Selected unaudited quarterly financial data for the fiscal year 2001 is being filed as Exhibit 99.2O to this Form 8K-A. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits Exhibit No. Description of Exhibit 99.15 Unaudited consolidated statements of earnings for the 11 year period ended December 30, 2001 and segments of business data for the three year period ended December 30, 2001 99.2O Unaudited quarterly financial data for fiscal year 2001 SIGNATURE 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 Date: April 30, 2002 By: /s/ Stephen J. Cosgrove Stephen J. Cosgrove Chief Accounting Officer EX-99.15 OTH FIN ST 3 exhibitninetyninefifteen.txt EXHIBITNINETYNINEFIFTEEN Exhibit 99.15 Johnson & Johnson and Subsidiaries (Dollars in Millions Except Per Share Figures) Unaudited 2001 2000 1999 1998 1997 1996 Sales to customer- Domestic 19,825 17,316 15,532 12,901 11,814 10,851 Sales to customer- Int'l 12,492 11,856 11,825 10,910 10,708 10,536 Total Sales 32,317 29,172 27,357 23,811 22,522 21,387 Cost of products sold 9,581 8,957 8,539 7,700 7,350 7,185 Selling, marketing and administrative expenses 11,260 10,495 10,065 8,525 8,185 7,848 Research expense 3,591 3,105 2,768 2,506 2,373 2,109 Purchased in-process research and development 105 66 - 298 108 - Interest income (456) (429) (266) (302) (263) (196) Interest expense, net of portion capitalized 153 204 255 186 179 176 Other expense, net 38 (61) 100 12 (10) 122 Restructuring charge 147 (33) 19 553 258 - 24,419 22,304 21,480 19,478 18,180 17,244 Earnings before provision for taxes on income 7,898 6,868 5,877 4,333 4,342 4,143 Provision for taxes on income 2,230 1,915 1,604 1,232 1,237 1,185 Earnings before cumulative effect of accounting changes 5,668 4,953 4,273 3,101 3,105 2,958 Cumulative effect of accounting changes (net of tax) - - - - - - Net earnings 5,668 4,953 4,273 3,101 3,105 2,958 Exhibit 99.15 Johnson & Johnson and Subsidiaries (Dollars in Millions Except Per Share Figures) Unaudited 1995 1994 1993 1992 1991 Sales to customer- Domestic 9,065 7,731 7,121 6,899 6,160 Sales to customer- International 9,472 7,723 6,756 6,701 6,050 Total Sales 18,537 15,454 13,877 13,600 12,210 Cost of products sold 6,352 5,393 4,908 4,783 4,281 Selling, marketing and administrative expenses 6,950 5,901 5,364 5,356 4,808 Research expense 1,788 1,416 1,296 1,282 1,092 Purchased in-process research and development - 37 - - 171 Interest income (151) (85) (104) (122) (123) Interest expense, net of portion capitalized 184 182 165 162 156 Other expense, net 70 (5) (71) 20 88 Restructuring charge - - - - (64) 15,193 12,839 11,558 11,481 10,409 Earnings before provision for taxes on income 3,344 2,615 2,319 2,119 1,801 Provision for taxes on income 926 654 533 547 531 Earnings before cumulative effect of accounting changes 2,418 1,961 1,786 1,572 1,270 Cumulative effect of accounting changes (net of tax) - - - (595) - Net earnings 2,418 1,961 1,786 977 1,270 Exhibit 99.15 Segments of Business Johnson & Johnson and Subsidiaries Unaudited Sales to Customers (Dollars in Millions) 2001 2000 1999 Consumer - Domestic $3,449 $3,403 3,311 International 2,871 2,868 2,937 Total 6,320 6,271 6,248 Pharmaceutical - Domestic 10,240 8,441 6,955 International 4,611 4,220 4,275 Total 14,851 12,661 11,230 Medical Dev & Diag - Domestic 6,136 5,472 5,266 International 5,010 4,768 4,613 Total 11,146 10,240 9,879 Worldwide total 32,317 29,172 27,357 Geographic Areas Johnson & Johnson and Subsidiaries Sales to Customers (Dollars in Millions) 2001 2000 1999 United States $19,825 $17,316 15,532 Europe 6,687 6,210 6,564 Western Hemisphere excluding U.S. 2,070 2,020 1,964 Asia-Pacific, Africa 3,735 3,626 3,297 Worldwide total $32,317 $29,172 27,357 EX-99.2O OTH FIN ST 4 exhibitninetyninetwenty.txt EXHIBITNINETNINETWENTY Exhibit 99.2O Selected unaudited quarterly financial data for the fiscal year 2001 is summarized below: 2001 (Dollars in Millions First Second Third Fourth Total Except Per Share Amounts) Quarter Quarter Quarter Quarter Year Segment sales to customers Consumer 1,631 1,530 1,609 1,551 6,320 Pharmaceutical 3,489 3,864 3,677 3,820 14,851 Med Dev & Diag 2,735 2,785 2,772 2,854 11,146 Total sales 7,855 8,179 8,058 8,225 32,317 Cost of products sold 2,311 2,372 2,396 2,502 9,581 Gross margin 5,544 5,807 5,662 5,723 22,736 Selling, Marketing and administrative expenses 2,666 2,802 2,703 3,089 11,260 Research expense 759 829 899 1,104 3,591 Interest (income) expense, net (92) (70) (67) (74) (303) Other (income) expense, net (6) 117 19 55 185 In-process R&D - - - 105 105 Total Expenses 3,327 3,678 3,554 4,279 14,838 Earnings before provision for taxes on income 2,217 2,129 2,108 1,444 7,898 Provision for taxes on income 665 647 579 339 2,230 Net Earnings 1,552 1,482 1,529 1,105 5,668 Net earnings per share (diluted) $0.50 0.48 0.49 0.36 1.84 Effective tax rate 30.0% 30.4% 27.5% 23.5% 28.2% Average shares outstanding - Diluted 3,106.7 3,110.5 3,110.9 3,121.2 3,099.3 Earnings excluding Restructuring/IPR&D charges: Earnings before provision for taxes on income 2,217 2,238 2,146 1,549 8,150 Net Earnings 1,552 1,584 1,553 1,210 5,899 Net earnings per share (Diluted) 0.50 0.51 0.50 0.39 1.91 -----END PRIVACY-ENHANCED MESSAGE-----