EX-99.2O OTH FIN ST 3 ninetyninetwenty.txt Exhibit 99.20 Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) THIRD QUARTER Percent Change Opera- 2006 2005 Total tions Currency Sales to customers by segment of business Consumer U.S. $1,138 1,075 5.9% 5.9 - International 1,318 1,156 14.0 10.2 3.8 2,456 2,231 10.1 8.1 2.0 Pharmaceutical U.S. 3,841 3,527 8.9 8.9 - International 2,040 1,930 5.7 2.7 3.0 5,881 5,457 7.8 6.7 1.1 Med Devices & Diagnostics U.S. 2,509 2,365 6.1 6.1 - International 2,441 2,257 8.2 6.1 2.1 4,950 4,622 7.1 6.1 1.0 U.S. 7,488 6,967 7.5 7.5 - International 5,799 5,343 8.5 5.7 2.8 Worldwide $13,287 12,310 7.9% 6.7 1.2 Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) NINE MONTHS Percent Change Opera- 2006 2005 Total tions Currency Sales to customers by segment of business Consumer U.S. $3,391 3,281 3.4% 3.4 - International 3,818 3,508 8.8 7.8 1.0 7,209 6,789 6.2 5.7 0.5 Pharmaceutical U.S. 11,224 10,905 2.9 2.9 - International 6,093 5,935 2.7 3.5 (0.8) 17,317 16,840 2.8 3.1 (0.3) Med Devices & Diagnostics U.S. 7,619 7,104 7.2 7.2 - International 7,497 7,171 4.5 6.5 (2.0) 15,116 14,275 5.9 6.9 (1.0) U.S. 22,234 21,290 4.4 4.4 - International 17,408 16,614 4.8 5.7 (0.9) Worldwide $39,642 37,904 4.6% 5.0 (0.4) Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) THIRD QUARTER Percent Change Opera- 2006 2005 Total tions Currency Sales to customers by geographic area U.S. $7,488 6,967 7.5% 7.5 - Europe 3,098 2,860 8.3 3.8 4.5 Western Hemisphere excluding U.S. 901 783 15.1 10.6 4.5 Asia-Pacific, Africa 1,800 1,700 5.9 6.7 (0.8) International 5,799 5,343 8.5 5.7 2.8 Worldwide $13,287 12,310 7.9% 6.7 1.2 Johnson & Johnson and Subsidiaries Supplementary Sales Data (Unaudited; Dollars in Millions) NINE MONTHS Percent Change Opera- 2006 2005 Total tions Currency Sales to customers by geographic area U.S. $22,234 21,290 4.4% 4.4 - Europe 9,464 9,222 2.6 4.5 (1.9) Western Hemisphere excluding U.S. 2,599 2,259 15.1 8.6 6.5 Asia-Pacific, Africa 5,345 5,133 4.1 6.6 (2.5) International 17,408 16,614 4.8 5.7 (0.9) Worldwide $39,642 37,904 4.6% 5.0 (0.4) Johnson & Johnson and Subsidiaries (1) Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) THIRD QUARTER 2006 2006 2005 2005 Percent Amount Percent Amount Percent Increase to Sales to Sales (Decrease) Sales to customers $13,287 100.0 $12,310 100.0 7.9 Cost of products sold 3,650 27.5 3,354 27.2 8.8 Selling, marketing and administrative expenses 4,291 32.3 4,161 33.8 3.1 Research expense 1,719 12.9 1,539 12.5 11.7 In-process research & development 115 0.9 - - Interest (income) expense, net (194) (1.5) (101) (0.8) Other (income) expense, net 45 0.3 (63) (0.5) Earnings before provision for taxes on income 3,661 27.6 3,420 27.8 7.0 Provision for taxes on income 901 6.8 882 7.2 2.2 Net earnings $2,760 20.8 $2,538 20.6 8.7 Net earnings per share (Diluted) $0.94 $0.85 10.6 Average shares outstanding (Diluted) 2,948.1 3,006.2 Effective tax rate 24.6% 25.8% Adjusted earnings before provision for taxes and net earnings(A) Earnings before provision for taxes on income $3,776(2) 28.4 $3,420 27.8 10.4 Net earnings $2,875(2) 21.6 $2,538 20.6 13.3 Net earnings per share (Diluted) $0.98(2) $0.85 15.3 Effective tax rate 23.9% 25.8% (1) The company has adopted SFAS No. 123 (R), Share Based Payment, applying the modified retrospective transition method. Previously reported financial statements have been restated accordingly. (2) The difference between as reported earnings before provision for taxes on income and net earnings and net earnings per share (diluted) and adjusted earnings before provision for taxes on income and net earnings and net earnings per share (diluted) is the exclusion of IPR&D of $115 million with no tax benefit and $0.04 per share, respectively. Johnson & Johnson and Subsidiaries (1) Condensed Consolidated Statement of Earnings (Unaudited; in Millions Except Per Share Figures) NINE MONTHS 2006 2006 2005 2005 Percent Amount Percent Amount Percent Increase to Sales to Sales (Decrease) Sales to customers $39,642 100.0 $37,904 100.0 4.6 Cost of products sold 11,050 27.9 10,372 27.4 6.5 Selling, marketing and administrative expenses 12,737 32.1 12,566 33.2 1.4 Research expense 5,079 12.8 4,448 11.7 14.2 In-process research & development 239 0.6 353 0.9 Interest (income) expense, net (571) (1.4) (264) (0.7) Other (income) expense, net (771) (2.0) (184) (0.5) Earnings before provision for taxes on income 11,879 30.0 10,613 28.0 11.9 Provision for taxes on income 2,994 7.6 2,648 7.0 13.1 Net earnings $8,885 22.4 $7,965 21.0 11.6 Net earnings per share (Diluted) $2.99 $2.65 12.8 Average shares outstanding (Diluted) 2,971.3 3,008.4 Effective tax rate 25.2% 25.0% Adjusted earnings before provision for taxes and net earnings(A) Earnings before provision for taxes on income $11,496(2) 29.0 $10,966(3) 28.9 4.8 Net earnings $8,748(2) 22.1 $8,093(3) 21.4 8.1 Net earnings per share (Diluted) $2.95(2) $2.69(3) 9.7 Effective tax rate 23.9% 26.2% (1) The company has adopted SFAS No. 123 (R), Share Based Payment, applying the modified retrospective transition method. Previously reported financial statements have been restated accordingly. (2) The difference between as reported earnings before provision for taxes on income and net earnings and net earnings per share (diluted) and adjusted earnings before provision for taxes on income and net earnings and net earnings per share (diluted) is the exclusion of the Guidant acquisition termination fee of $622 million before tax and $368 million after tax and $0.12 per share, respectively, and the exclusion of IPR&D of $239 million before tax and $231 million after tax and $0.08 per share, respectively. (3) The difference between as reported earnings before provision for taxes on income and net earnings and net earnings per share (diluted) and adjusted earnings before provision for taxes on income and net earnings and net earnings per share (diluted) is the exclusion of IPR&D of $353 million before tax with no tax benefit and $0.12 per share, and the exclusion of a $225 million tax gain and $0.08 per share, due to the reversal of a tax liability related to a technical correction associated with the American Jobs Creation Act of 2004. (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, they may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as business development activities (including IPR&D at acquisition or upon attainment of milestones and any extraordinary expenses), strategic developments (including restructuring and product line changes), significant 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. These non-GAAP financial measures are presented solely to permit investors to more fully understand how management assesses the performance of the Company. 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 the effects of an acquisition, merger- related or other restructuring charges, or amortization of purchased intangibles, 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.