XML 64 R48.htm IDEA: XBRL DOCUMENT v3.6.0.2
Selected Quarterly Financial Data (unaudited) (Tables)
 12 Months Ended
Jan. 01, 2017
Selected Quarterly Financial Information [Abstract]  
Summary of Selected Quarterly Financial Data (unaudited)
Selected unaudited quarterly financial data for the years 2016 and 2015 are summarized below:
 
 
2016
 
2015
(Dollars in Millions Except Per Share Data)
 
First Quarter (1)
 
Second Quarter (2)
 
Third Quarter (3)
 
Fourth Quarter (4)
 
First Quarter (5)
 
Second Quarter (6)
 
Third Quarter (7)
 
Fourth Quarter (8)
Segment sales to customers
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Consumer
 
$
3,195

 
3,419

 
3,261

 
3,432

 
3,390

 
3,483

 
3,314

 
3,320

Pharmaceutical
 
8,178

 
8,654

 
8,400

 
8,232

 
7,726

 
7,946

 
7,694

 
8,064

Medical Devices 
 
6,109

 
6,409

 
6,159

 
6,442

 
6,258

 
6,358

 
6,094

 
6,427

Total sales
 
17,482

 
18,482

 
17,820

 
18,106

 
17,374

 
17,787

 
17,102

 
17,811

Gross profit
 
12,153

 
13,146

 
12,334

 
12,572

 
12,092

 
12,430

 
11,878

 
12,138

Earnings before provision for taxes on income
 
5,294

 
4,904

 
5,281

 
4,324

 
5,575

 
5,741

 
4,122

 
3,758

Net earnings
 
4,457

 
3,997

 
4,272

 
3,814

 
4,320

 
4,516

 
3,358

 
3,215

Basic net earnings per share
 
$
1.62

 
1.46

 
1.56

 
1.41

 
1.55

 
1.63

 
1.21

 
1.16

Diluted net earnings per share
 
$
1.59

 
1.43

 
1.53

 
1.38

 
1.53

 
1.61

 
1.20

 
1.15



(1)
The first quarter has been recast to reflect the adoption of ASU 2016-09. See Note 1 to the Consolidated Financial Statements for more details. The first quarter of 2016 includes a restructuring charge of $120 million after-tax ($137 million before-tax) and net litigation expense of $56 million after-tax ($66 million before-tax).
(2) 
The second quarter of 2016 includes a restructuring charge of $97 million after-tax ($141 million before-tax) and net litigation expense of $493 million after-tax ($600 million before-tax).
(3) 
The third quarter of 2016 includes a restructuring charge of $76 million after-tax ($109 million before-tax) and net litigation expense of $46 million after-tax ($55 million before-tax).
(4) 
The fourth quarter of 2016 includes a restructuring charge of $251 million after-tax ($298 million before-tax) and net litigation expense of $80 million after-tax ($96 million before-tax).
(5) 
The first quarter of 2015 includes a net litigation gain of $253 million after-tax ($402 million before-tax) and $122 million after-tax ($139 million before-tax) for costs associated with the DePuy ASRTM Hip program.
(6) 
The second quarter of 2015 includes net litigation expense of $23 million after-tax ($134 million before-tax).
(7) 
The third quarter of 2015 includes net litigation expense of $348 million after-tax ($409 million before-tax).
(8) 
The fourth quarter of 2015 includes a restructuring charge of $415 million after-tax ($590 million before-tax), $156 million after-tax ($214 million before-tax) from impairment of in-process research and development and Synthes integration costs of $59 million after-tax ($83 million before-tax). Additionally, the fourth quarter of 2015 includes the gain on the Cordis divestiture.