8-K

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): 

January 25, 2022

Johnson & Johnson

 (Exact name of registrant as specified in its charter)

New Jersey	1-3215	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:

☐            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17

               CFR 240.14d-2(b)) 

☐             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17

               CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company ☐  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Par Value $1.00	JNJ	New York Stock Exchange
0.650% Notes Due May 2024	JNJ24C	New York Stock Exchange
5.50% Notes Due November 2024	JNJ24BP	New York Stock Exchange
1.150% Notes Due November 2028	JNJ28	New York Stock Exchange
1.650% Notes Due May 2035	JNJ35	New York Stock Exchange

Item 2.02     Results of Operations and Financial Condition

On January 25, 2022, Johnson & Johnson issued the attached press release announcing its sales and earnings for the fourth quarter and full year ended January 2, 2022.

Item 9.01    Financial Statements and Exhibits

(d)     Exhibits. 

Exhibit No.	Description of Exhibit
99.1	Press Release dated January 25, 2022 for the period ended January 2, 2022
99.2	Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fourth quarter and full year
104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

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:	January 25, 2022	By:	/s/ Robert J. Decker, Jr.
			Robert J. Decker, Jr. Controller (Principal Accounting Officer)

EX-99.1

Exhibit 99.1

JOHNSON & JOHNSON REPORTS 2021 FOURTH-QUARTER AND FULL YEAR RESULTS:

•2021 Fourth-Quarter Sales of $24.8 Billion reflecting growth of 10.4%, operational sales growth of 11.6%*, and adjusted operational sales growth of 12.3%*

•2021 Full-Year Sales of $93.8 Billion reflecting growth of 13.6%, operational sales growth of 12.2%*, and adjusted operational sales growth of 12.8%*

•2021 Fourth-Quarter EPS of $1.77 increased 172.3%; adjusted EPS of $2.13 increased 14.5%*

•2021 Full-Year EPS of $7.81 increased 41.7%; adjusted EPS of $9.80 increased 22.0%*

•Company guides 2022 adjusted operational sales growth of 7.7%* and adjusted operational EPS growth of 9.2%*

New Brunswick, N.J. (January 25, 2022) – Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2021. “Our 2021 performance reflects continued strength across all segments of our business. Guided by Our Credo, I am honored to assume the role of CEO, leading our global teams in continuing our work to deliver life-changing solutions to consumers, patients, and health care providers” said Joaquin Duato, Chief Executive Officer. “Given our strong results, financial profile, and innovative pipeline we are well positioned for success in 2022 and beyond.”

OVERALL FINANCIAL RESULTS:

REGIONAL SALES RESULTS:

SEGMENT SALES RESULTS:

1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

4 Excludes intangible amortization expense and special items

Note: values may have been rounded

FULL-YEAR 2021 SEGMENT COMMENTARY:

Consumer Health

Consumer Health worldwide adjusted operational sales increased 3.8%* primarily driven by over-the-counter (OTC) products including TYLENOL analgesics and digestive health, in addition to NEUTROGENA and AVEENO products in Skin Health / Beauty primarily due to COVID-19 market recovery. The growth was partially offset by external supply constraints mainly impacting Skin Health / Beauty.

Pharmaceutical

Pharmaceutical worldwide adjusted operational sales grew 13.6%* driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, and INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. Also contributing to growth were sales of the Janssen COVID-19 Vaccine (Ad26.COV2.S) for the treatment of the SARS-CoV-2 virus. This growth was partially offset by declines in U.S. sales of REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases.

Medical Devices

Medical Devices worldwide adjusted operational sales grew 16.8%*, driven primarily by the market recovery from COVID-19 impacts and the associated deferral of medical procedures in the prior year across all of our businesses including Surgery, Interventional Solutions, Vision and Orthopaedics.

NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:

The information contained in this section should be read in conjunction with Johnson & Johnson’s other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the Company’s website at news releases, as well as

www.factsabouttalc.com, www.factsaboutourprescriptionopioids.com, and www.LTLManagementInformation.com

Regulatory Decisions	European Commission Approves BYANNLI® (6-monthly Paliperidone Palmitate; PP6M) for the Maintenance Treatment of Schizophrenia in Adults	(press release)
	U.S. FDA Approves DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) in Combination with Carfilzomib and Dexamethasone for Patients with Multiple Myeloma After First or Subsequent Relapse	(press release)
	Janssen EMEA Receives Conditional Marketing Authorisation for RYBREVANT® (amivantamab), the First Treatment Approved for Patients with Advanced NonSmall Cell Lung Cancer (NSCLC) with EGFR Exon 20 Insertion Mutations After Failure of Platinum-Based Therapy	(press release)
	Johnson & Johnson COVID-19 Vaccine Booster Shot Authorized for Emergency Use by U.S. FDA	(press release)
	World Health Organization Strategic Advisory Group of Experts (SAGE) Interim Recommendation Supports Use of Johnson & Johnson COVID-19 Vaccine as a Booster	(press release)
	Johnson & Johnson Announces Positive CHMP Opinion for a Booster Shot of its COVID-19 Vaccine	(press release)
	FDA Approves Two New Indications for XARELTO® (rivaroxaban) to Help Prevent and Treat Blood Clots in Pediatric Patients	(press release)
	U.S. FDA Approves New MENTOR® MemoryGel BOOST™ Breast Implant1	(press release)
Regulatory Submissions	Janssen Seeks Approval of IMBRUVICA® (ibrutinib) in a Fixed-Duration Regimen for Patients with Untreated Chronic Lymphocytic Leukaemia (CLL) (EU)	(press release)
	Janssen Submits Biologics License Application to U.S. FDA Seeking Approval of Teclistamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma	(press release)
Other	Johnson & Johnson Announces Plans to Accelerate Innovation, Serve Patients and Consumers, and Unlock Value through Intent to Separate Consumer Health Business	(press release)
	Johnson & Johnson Appoints Senior Leaders to Executive Committee	(press release)
	Johnson & Johnson announces significant progress towards its climate goals – 100% renewable electricity for all sites in the United States, Canada and Europe by 2023	(press release)
	Johnson & Johnson Medical Devices Companies Announces Strategic Partnership with Microsoft to Further Enable its Digital Surgery Solutions1	(press release)
	Johnson & Johnson COVID-19 Booster, Administered Six Months After Two-Dose Regimen of BNT162b2, Shows Substantial Increase in Antibody and T-cell Responses	(press release)
	Johnson & Johnson Enters into Agreement to Provide its Single-Shot COVID-19 Vaccine for the World’s Most Vulnerable People through Novel Humanitarian Buffer	(press release)
	Johnson & Johnson COVID-19 Vaccine Demonstrates 85 Percent Effectiveness against Hospitalization in South Africa when Omicron was Dominant	(press release)

. 1 Subsequent to the quarter

FULL-YEAR 2022 GUIDANCE:

Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

($ in Billions, except EPS)	January 2022 (ex. COVID Vx)	January 2022 (COVID Vx)	January 2022 (incl. COVID Vx)
Adjusted Operational Sales1,2 Change vs. Prior Year	6.5% – 7.5%		7.0% – 8.5%
Operational Sales2 Change vs. Prior Year	$97.3B – $98.3B 6.5% – 7.5%	$3.0B - $3.5B	$100.3B – $101.8B 7.0% – 8.5%
Estimated Reported Sales3 Change vs. Prior Year	$95.9B - $96.9B 5.0% – 6.0%	$3.0B - $3.5B	$98.9B - $100.4B 5.5% – 7.0%
Adjusted Operational EPS (Diluted)2,4 Change vs. Prior Year			$10.60 - $10.80 8.2% – 10.2%
Adjusted EPS (Diluted)3,4 Change vs. Prior Year			$10.40 - $10.60 6.1% – 8.2%

     1 Non-GAAP financial measure;excludes the net impact of acquisitions and divestitures

     2 Non-GAAP financial measure; excludes the impact of translational currency

     3 Calculated using Euro Average Rate: January 2022 = $1.14 (Illustrative purposes only)

     4 Non-GAAP financial measure; excludes intangible amortization expense and special items

     Note: % may have been rounded

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:

Johnson & Johnson will conduct a conference call with investors to discuss this earnings 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. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the Company's website at events-and-presentations.

ABOUT JOHNSON & JOHNSON:

At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

NON-GAAP FINANCIAL MEASURES:

* "Operational sales growth" excluding the impact of translational currency, "adjusted operational sales growth" excluding the net impact of acquisitions and divestitures and translational currency, as well as "adjusted net earnings", "adjusted diluted earnings per share" and "adjusted operational 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. Except for guidance 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 Investors section of the company's website at quarterly-results.

Copies of the financial schedules accompanying this earnings release are available on the Company’s website at quarterly-results. 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 adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can also be found in the Investors section of the Company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:

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, business strategy, and the anticipated separation of the company’s Consumer Health business. 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: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company’s ability to execute business continuity plans, as a result of the COVID-19 pandemic; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans, including restructuring plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the company’s ability to satisfy the necessary conditions to consummate the separation of the company’s Consumer Health business on a timely basis or at all; the company’s ability to successfully separate the company’s Consumer Health business and realize the anticipated benefits from the separation; and the New Consumer Health Company’s ability to succeed as a standalone publicly traded company. A further list and descriptions 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 January 3, 2021 including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in the company’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.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 statement as a result of new information or future events or developments.

Press Contacts:	Investor Contacts:
Lindsay Hymson	Jessica Moore	Sarah Wood
(516) 524-1757	(732) 524-2955	(732) 524-2617

EX-99.2

Exhibit 99.2

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	FOURTH QUARTER
				Percent Change
	2021		2020	Total		Operations	Currency
Sales to customers by
geographic area
U.S.	$	12,163	11,809	3.0	%	3.0	—
Europe	6,925		5,271	31.4		34.7	(3.3)
Western Hemisphere excluding U.S.	1,459		1,404	3.9		5.0	(1.1)
Asia-Pacific, Africa	4,257		3,991	6.6		9.0	(2.4)
International	12,641		10,666	18.5		21.2	(2.7)
Worldwide	$	24,804	22,475	10.4	%	11.6	(1.2)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	TWELVE MONTHS
				Percent Change
	2021		2020	Total		Operations	Currency
Sales to customers by
geographic area
U.S.	$	47,156	43,133	9.3	%	9.3	—
Europe	23,594		18,980	24.3		20.7	3.6
Western Hemisphere excluding U.S.	5,750		5,335	7.8		7.3	0.5
Asia-Pacific, Africa	17,275		15,136	14.1		11.4	2.7
International	46,619		39,451	18.2		15.3	2.9
Worldwide	$	93,775	82,584	13.6	%	12.2	1.4
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	FOURTH QUARTER
				Percent Change
	2021		2020	Total		Operations	Currency
Sales to customers by
segment of business
Consumer Health
U.S.	$	1,529	1,509	1.3	%	1.3	—
International	2,128		2,109	0.9		2.1	(1.2)
	3,657		3,618	1.1		1.8	(0.7)
Pharmaceutical
U.S.	7,418		7,116	4.2		4.2	—
International	6,870		5,152	33.4		36.9	(3.5)
	14,288		12,268	16.5		17.9	(1.4)
Medical Devices
U.S.	3,216		3,184	1.0		1.0	—
International	3,643		3,405	7.0		9.3	(2.3)
	6,859		6,589	4.1		5.3	(1.2)
U.S.	12,163		11,809	3.0		3.0	—
International	12,641		10,666	18.5		21.2	(2.7)
Worldwide	$	24,804	22,475	10.4	%	11.6	(1.2)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	TWELVE MONTHS
				Percent Change
	2021		2020	Total		Operations	Currency
Sales to customers by
segment of business
Consumer Health
U.S.	$	6,516	6,362	2.4	%	2.4	—
International	8,119		7,691	5.6		3.1	2.5
	14,635		14,053	4.1		2.8	1.3
Pharmaceutical
U.S.	27,954		25,735	8.6		8.6	—
International	24,126		19,837	21.6		18.8	2.8
	52,080		45,572	14.3		13.1	1.2
Medical Devices
U.S.	12,686		11,036	14.9		14.9	—
International	14,374		11,923	20.6		17.3	3.3
	27,060		22,959	17.9		16.2	1.7
U.S.	47,156		43,133	9.3		9.3	—
International	46,619		39,451	18.2		15.3	2.9
Worldwide	$	93,775	82,584	13.6	%	12.2	1.4
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)	FOURTH QUARTER
	2021				2020				Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	24,804		100.0	$	22,475		100.0	10.4
Cost of products sold	7,955			32.1	7,814			34.8	1.8
Gross Profit	16,849			67.9	14,661			65.2	14.9
Selling, marketing and administrative expenses	7,154			28.9	6,457			28.7	10.8
Research and development expense	4,720			19.0	4,032			17.9	17.1
In-process research and development	0			0.0	37			0.2
Interest (income) expense, net	47			0.2	74			0.3
Other (income) expense, net	9			0.0	2,354			10.5
Restructuring	83			0.3	60			0.3
Earnings before provision for taxes on income	4,836			19.5	1,647			7.3	193.6
Provision for/(Benefit from) taxes on income	100			0.4	(91)			(0.4)	(209.9)
Net earnings	$	4,736		19.1	$	1,738		7.7	172.5
Net earnings per share (Diluted)	$	1.77			$	0.65			172.3
Average shares outstanding (Diluted)	2,670.2				2,669.2
Effective tax rate	2.1		%		(5.5)		%
Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	6,339		25.6	$	5,601		24.9	13.2
Net earnings	$	5,678		22.9	$	4,965		22.1	14.4
Net earnings per share (Diluted)	$	2.13			$	1.86			14.5
Effective tax rate	10.4		%		11.4		%
(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 gains from divestitures, 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, significant gains from divestitures, the effects of an acquisition, 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)	TWELVE MONTHS
	2021				2020				Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	93,775		100.0	$	82,584		100.0	13.6
Cost of products sold	29,855			31.8	28,427			34.4	5.0
Gross Profit	63,920			68.2	54,157			65.6	18.0
Selling, marketing and administrative expenses	24,659			26.3	22,084			26.8	11.7
Research and development expense	14,714			15.7	12,159			14.7	21.0
In-process research and development	900			1.0	181			0.2
Interest (income) expense, net	130			0.1	90			0.1
Other (income) expense, net	489			0.5	2,899			3.5
Restructuring	252			0.3	247			0.3
Earnings before provision for taxes on income	22,776			24.3	16,497			20.0	38.1
Provision for taxes on income	1,898			2.0	1,783			2.2	6.4
Net earnings	$	20,878		22.3	$	14,714		17.8	41.9
Net earnings per share (Diluted)	$	7.81			$	5.51			41.7
Average shares outstanding (Diluted)	2,674.0				2,670.7
Effective tax rate	8.3		%		10.8		%
Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	30,464		32.5	$	25,428		30.8	19.8
Net earnings	$	26,195		27.9	$	21,433		26.0	22.2
Net earnings per share (Diluted)	$	9.80			$	8.03			22.0
Effective tax rate	14.0		%		15.7		%
(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 gains from divestitures, 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, significant gains from divestitures, the effects of an acquisition, 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
Reconciliation of Non-GAAP Financial Measures
		Fourth Quarter
	(Dollars in Millions Except Per Share Data)	2021	2020
	Net Earnings, after tax- as reported	$4,736	$1,738
	Pre-tax Adjustments
	Intangible Asset Amortization expense	1,121	1,234
	Litigation expense, net	274	2,902
	IPR&D	0	37
	Restructuring related	140	85
	Acquisition, integration and divestiture related	26	14
	(Gains)/losses on securities	(198)	(373)
	Medical Device Regulation	73	55
	Consumer Health separation costs	67	0
	Tax Adjustments
	Tax impact on special item adjustments 1	(184)	(606)
	Tax legislation and other tax related	(377)	(121)
	Adjusted Net Earnings, after tax	$5,678	$4,965
	Average shares outstanding (Diluted)	2,670.2	2,669.2
	Adjusted net earnings per share (Diluted)	$2.13	$1.86
	Operational adjusted net earnings per share (Diluted)	$2.18
	Notes:
1	The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
		Twelve Months Ended
	(Dollars in Millions Except Per Share Data)	2021	2020
	Net Earnings, after tax- as reported	$20,878	$14,714
	Pre-tax Adjustments
	Intangible Asset Amortization expense	4,697	4,660
	Litigation expense, net	2,328	5,112
	IPR&D	900	181
	Restructuring related	473	448
	Acquisition, integration and divestiture related ¹	(478)	(1,073)
	(Gains)/losses on securities	(533)	(547)
	Medical Device Regulation	234	144
	Consumer Health separation costs	67	0
	Other	0	6
	Tax Adjustments
	Tax impact on special item adjustments 2	(1,281)	(1,608)
	Tax legislation and other tax related	(1,090)	(604)
	Adjusted Net Earnings, after tax	$26,195	$21,433
	Average shares outstanding (Diluted)	2,674.0	2,670.7
	Adjusted net earnings per share (Diluted)	$9.80	$8.03
	Operational adjusted net earnings per share (Diluted)	$9.65
	Notes:
1	Acquisition, integration and divestiture related for 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S. Acquisition, integration and divestiture related for 2020 primarily includes a Contingent Consideration reversal of $1,148M related to the timing of certain developmental milestones associated with the Auris Health acquisition.
2	The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.

Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Adjusted Operational Sales Growth (A)
FOURTH QUARTER 2021 ACTUAL vs. 2020 ACTUAL
Segments
	Consumer Health		Pharmaceutical		Medical Devices		Total
WW As Reported	1.1	%	16.5	%	4.1	%	10.4	%
U.S.	1.3	%	4.2	%	1.0	%	3.0	%
International	0.9	%	33.4	%	7.0	%	18.5	%
WW Currency	(0.7)		(1.4)		(1.2)		(1.2)
U.S.	—		—		—		—
International	(1.2)		(3.5)		(2.3)		(2.7)
WW Operational	1.8	%	17.9	%	5.3	%	11.6	%
U.S.	1.3	%	4.2	%	1.0	%	3.0	%
International	2.1	%	36.9	%	9.3	%	21.2	%
General Surgery
Advanced Sterilization Products					0.3		0.1
U.S.					0.0		0.0
International					0.5		0.2
Skin Health / Beauty
Dr. Ci Labo - Sedona	0.7						0.1
U.S.	0.0						0.0
International	1.2						0.3
All Other Acquisitions and Divestitures	0.4		0.7		0.1		0.4
U.S.	0.6		0.0		0.2		0.1
International	0.3		1.7		0.0		0.8
WW Adjusted Operational	2.9	%	18.6	%	5.6	%	12.3	%
U.S.	1.9	%	4.2	%	1.2	%	3.1	%
International	3.6	%	38.6	%	9.8	%	22.4	%
Note: Percentages are based on actual, non-rounded figures and may not sum
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and 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 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
Adjusted Operational Sales Growth (A)
TWELVE MONTHS 2021 ACTUAL vs. 2020 ACTUAL
Segments
	Consumer Health		Pharmaceutical		Medical Devices		Total
WW As Reported	4.1	%	14.3	%	17.9	%	13.6	%
U.S.	2.4	%	8.6	%	14.9	%	9.3	%
International	5.6	%	21.6	%	20.6	%	18.2	%
WW Currency	1.3		1.2		1.7		1.4
U.S.	—		—		—		—
International	2.5		2.8		3.3		2.9
WW Operational	2.8	%	13.1	%	16.2	%	12.2	%
U.S.	2.4	%	8.6	%	14.9	%	9.3	%
International	3.1	%	18.8	%	17.3	%	15.3	%
General Surgery
Advanced Sterilization Products					0.5		0.1
U.S.					0.0		0.0
International					1.0		0.3
Skin Health / Beauty
Dr. Ci Labo - Sedona	0.5						0.1
U.S.	0.0						0.0
International	1.0						0.2
All Other Acquisitions and Divestitures	0.4		0.5		0.1		0.4
U.S.	0.6		0.0		0.4		0.2
International	0.3		1.4		0.0		0.8
WW Adjusted Operational	3.8	%	13.6	%	16.8	%	12.8	%
U.S.	3.0	%	8.6	%	15.3	%	9.5	%
International	4.4	%	20.2	%	18.3	%	16.6	%
Note: Percentages are based on actual, non-rounded figures and may not sum
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and 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 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)
		FOURTH QUARTER
				% Change
		2021	2020	Reported		Operational (1)		Currency
CONSUMER HEALTH SEGMENT (2)
OTC
US	$	633	543	16.8	%	16.8	%	—	%
Intl		740	642	15.1		14.9		0.2
WW		1,373	1,185	15.9		15.8		0.1
SKIN HEALTH / BEAUTY
US		538	583	(7.8)		(7.8)		—
Intl		546	594	(8.2)		(6.4)		(1.8)
WW		1,084	1,177	(8.0)		(7.1)		(0.9)
ORAL CARE
US		159	173	(8.2)		(8.2)		—
Intl		246	264	(7.2)		(5.5)		(1.7)
WW		405	437	(7.6)		(6.5)		(1.1)
BABY CARE
US		90	97	(7.5)		(7.5)		—
Intl		309	310	(0.3)		1.3		(1.6)
WW		399	407	(2.0)		(0.8)		(1.2)
WOMEN'S HEALTH
US		4	3	14.1		14.1		—
Intl		230	234	(1.8)		1.2		(3.0)
WW		233	237	(1.6)		1.3		(2.9)
WOUND CARE / OTHER
US		106	110	(4.2)		(4.2)		—
Intl		57	65	(9.6)		(10.2)		0.6
WW		164	175	(6.2)		(6.4)		0.2
TOTAL CONSUMER HEALTH
US		1,529	1,509	1.3		1.3		—
Intl		2,128	2,109	0.9		2.1		(1.2)
WW	$	3,657	3,618	1.1	%	1.8	%	(0.7)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2021	2020	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (3)
IMMUNOLOGY
US	$	2,912	2,845	2.4	%	2.4	%	—	%
Intl		1,443	1,261	14.5		17.9		(3.4)
WW		4,355	4,105	6.1		7.1		(1.0)
REMICADE
US		511	656	(22.2)		(22.2)		—
US Exports (4)		39	25	53.5		53.5		—
Intl		214	220	(2.3)		(2.4)		0.1
WW		764	901	(15.2)		(15.2)		0.0
SIMPONI / SIMPONI ARIA
US		287	315	(8.9)		(8.9)		—
Intl		271	261	3.6		8.4		(4.8)
WW		559	576	(3.2)		(1.0)		(2.2)
STELARA
US		1,542	1,572	(1.9)		(1.9)		—
Intl		792	672	17.9		21.7		(3.8)
WW		2,334	2,244	4.0		5.1		(1.1)
TREMFYA
US		528	276	90.9		90.9		—
Intl		165	105	56.9		61.8		(4.9)
WW		693	382	81.5		82.8		(1.3)
OTHER IMMUNOLOGY
US		6	—	*		*		—
Intl		—	2	*		*		*
WW		6	2	*		*		*
INFECTIOUS DISEASES
US		614	470	30.8		30.8		—
Intl		1,824	442	*		*		(3.0)
WW		2,437	912	*		*		(1.5)
COVID-19 VACCINE
US		213	—	*		*		—
Intl		1,405	—	*		*		—
WW		1,619	—	*		*		—
EDURANT / rilpivirine
US		10	11	(15.8)		(15.8)		—
Intl		220	236	(6.8)		(3.3)		(3.5)
WW		230	248	(7.2)		(3.9)		(3.3)
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		380	433	(12.2)		(12.2)		—
Intl		135	136	(0.1)		3.0		(3.1)
WW		515	569	(9.3)		(8.5)		(0.8)
OTHER INFECTIOUS DISEASES
US		11	25	(55.9)		(55.9)		—
Intl		63	71	(10.9)		(10.0)		(0.9)
WW		74	96	(22.9)		(22.2)		(0.7)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2021	2020	Reported		Operational (1)	Currency
PHARMACEUTICAL SEGMENT (2) (3) (Continued)
NEUROSCIENCE
US	$	899	806	11.4	%	11.4%	—%
Intl		894	892	0.2		3.2	(3.0)
WW		1,793	1,698	5.5		7.1	(1.6)
CONCERTA / methylphenidate
US		55	33	68.1		68.1	—
Intl		123	120	3.2		6.0	(2.8)
WW		178	153	17.2		19.4	(2.2)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		668	610	9.5		9.5	—
Intl		361	355	1.5		5.0	(3.5)
WW		1,029	965	6.5		7.8	(1.3)
RISPERDAL CONSTA
US		77	76	2.3		2.3	—
Intl		63	92	(30.3)		(26.4)	(3.9)
WW		140	167	(15.6)		(13.4)	(2.2)
OTHER NEUROSCIENCE
US		99	88	11.7		11.7	—
Intl		346	326	6.2		8.6	(2.4)
WW		445	414	7.4		9.2	(1.8)
ONCOLOGY
US		1,594	1,469	8.5		8.5	—
Intl		2,184	1,965	11.1		15.2	(4.1)
WW		3,778	3,434	10.0		12.3	(2.3)
DARZALEX
US		867	692	25.3		25.3	—
Intl		778	561	38.9		43.5	(4.6)
WW		1,645	1,253	31.4		33.4	(2.0)
ERLEADA
US		235	176	33.4		33.4	—
Intl		149	64	*		*	*
WW		384	241	59.8		61.3	(1.5)
IMBRUVICA
US		436	492	(11.3)		(11.3)	—
Intl		626	625	0.0		3.4	(3.4)
WW		1,062	1,117	(5.0)		(3.1)	(1.9)
ZYTIGA / abiraterone acetate
US		23	89	(74.2)		(74.2)	—
Intl		525	533	(1.4)		3.1	(4.5)
WW		548	622	(11.8)		(7.9)	(3.9)
OTHER ONCOLOGY
US		34	20	64.7		64.7	—
Intl		106	183	(42.0)		(39.2)	(2.8)
WW		140	202	(31.3)		(28.8)	(2.5)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2021	2020	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (3) (Continued)
PULMONARY HYPERTENSION
US	$	587	592	(0.7)	%	(0.7)	%	—	%
Intl		264	273	(3.6)		0.8		(4.4)
WW		851	865	(1.6)		(0.2)		(1.4)
OPSUMIT
US		286	279	2.0		2.0		—
Intl		162	173	(6.1)		(1.7)		(4.4)
WW		448	452	(1.1)		0.6		(1.7)
UPTRAVI
US		264	263	0.0		0.0		—
Intl		46	38	21.9		24.7		(2.8)
WW		310	301	2.7		3.1		(0.4)
OTHER PULMONARY HYPERTENSION
US		38	49	(20.1)		(20.1)		—
Intl		56	63	(12.2)		(6.6)		(5.6)
WW		94	112	(15.6)		(12.4)		(3.2)
CARDIOVASCULAR / METABOLISM / OTHER
US		813	935	(13.1)		(13.1)		—
Intl		261	317	(17.8)		(16.0)		(1.8)
WW		1,074	1,253	(14.3)		(13.8)		(0.5)
XARELTO
US		644	629	2.5		2.5		—
Intl		—	—	—		—		—
WW		644	629	2.5		2.5		—
INVOKANA / INVOKAMET
US		59	159	(63.1)		(63.1)		—
Intl		60	58	3.8		4.5		(0.7)
WW		120	217	(45.1)		(44.9)		(0.2)
PROCRIT / EPREX
US		55	62	(12.8)		(12.8)		—
Intl		58	66	(13.0)		(11.7)		(1.3)
WW		113	129	(12.9)		(12.2)		(0.7)
OTHER
US		55	85	(35.6)		(35.6)		—
Intl		143	194	(25.9)		(23.8)		(2.1)
WW		198	278	(28.9)		(27.4)		(1.5)
TOTAL PHARMACEUTICAL
US		7,418	7,116	4.2		4.2		—
Intl		6,870	5,152	33.4		36.9		(3.5)
WW	$	14,288	12,268	16.5	%	17.9	%	(1.4)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2021	2020	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2)
INTERVENTIONAL SOLUTIONS
US	$	483	433	11.6	%	11.6	%	—	%
Intl		536	460	16.5		18.8		(2.3)
WW		1,019	893	14.1		15.3		(1.2)
ORTHOPAEDICS
US		1,305	1,352	(3.5)		(3.5)		—
Intl		851	839	1.5		3.9		(2.4)
WW		2,155	2,191	(1.6)		(0.7)		(0.9)
HIPS
US		229	229	0.4		0.4		—
Intl		151	143	4.9		6.5		(1.6)
WW		380	372	2.1		2.7		(0.6)
KNEES
US		208	216	(4.2)		(4.2)		—
Intl		135	129	4.6		6.5		(1.9)
WW		342	345	(0.9)		(0.2)		(0.7)
TRAUMA
US		467	454	2.8		2.8		—
Intl		261	268	(2.4)		0.7		(3.1)
WW		728	722	0.9		2.0		(1.1)
SPINE, SPORTS & OTHER
US		401	453	(11.4)		(11.4)		—
Intl		304	299	2.0		4.3		(2.3)
WW		706	752	(6.1)		(5.2)		(0.9)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		FOURTH QUARTER
				% Change
		2021	2020	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2) (Continued)
SURGERY
US	$	986	1,002	(1.7)		(1.7)		—	%
Intl		1,527	1,427	7.0		8.7		(1.7)
WW		2,513	2,429	3.5		4.4		(0.9)
ADVANCED
US		457	456	0.5		0.5		—
Intl		735	660	11.2		12.6		(1.4)
WW		1,192	1,116	6.8		7.6		(0.8)
GENERAL
US		528	546	(3.4)		(3.4)		—
Intl		793	767	3.4		5.3		(1.9)
WW		1,321	1,312	0.6		1.7		(1.1)
VISION
US		443	397	11.4		11.4		—
Intl		728	679	7.2		10.8		(3.6)
WW		1,171	1,076	8.7		11.0		(2.3)
CONTACT LENSES / OTHER
US		316	289	9.4		9.4		—
Intl		518	507	1.9		5.8		(3.9)
WW		833	796	4.6		7.1		(2.5)
SURGICAL
US		126	108	16.8		16.8		—
Intl		211	172	22.9		25.4		(2.5)
WW		338	280	20.5		22.1		(1.6)
TOTAL MEDICAL DEVICES
US		3,216	3,184	1.0		1.0		—
Intl		3,643	3,405	7.0		9.3		(2.3)
WW	$	6,859	6,589	4.1	%	5.3	%	(1.2)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2021	2020	Reported		Operational (1)		Currency
CONSUMER HEALTH SEGMENT (2)
OTC
US	$	2,594	2,460	5.4	%	5.4	%	—	%
Intl		2,634	2,364	11.4		6.9		4.5
WW		5,227	4,824	8.4		6.2		2.2
SKIN HEALTH / BEAUTY
US		2,400	2,350	2.1		2.1		—
Intl		2,141	2,100	1.9		(0.3)		2.2
WW		4,541	4,450	2.0		1.0		1.0
ORAL CARE
US		637	683	(6.7)		(6.7)		—
Intl		1,008	958	5.1		2.8		2.3
WW		1,645	1,641	0.2		(1.2)		1.4
BABY CARE
US		378	376	0.5		0.5		—
Intl		1,188	1,141	4.1		3.7		0.4
WW		1,566	1,517	3.2		2.9		0.3
WOMEN'S HEALTH
US		13	13	(1.6)		(1.6)		—
Intl		905	888	1.8		2.0		(0.2)
WW		917	901	1.8		1.9		(0.1)
WOUND CARE / OTHER
US		495	480	3.1		3.1		—
Intl		243	240	1.7		(2.7)		4.4
WW		739	720	2.6		1.2		1.4
TOTAL CONSUMER HEALTH
US		6,516	6,362	2.4		2.4		—
Intl		8,119	7,691	5.6		3.1		2.5
WW	$	14,635	14,053	4.1	%	2.8	%	1.3	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2021	2020	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (3)
IMMUNOLOGY
US	$	10,843	10,175	6.6	%	6.6	%	—	%
Intl		5,907	4,880	21.0		17.7		3.3
WW		16,750	15,055	11.3		10.2		1.1
REMICADE
US		2,019	2,508	(19.5)		(19.5)		—
US Exports (4)		236	346	(31.9)		(31.9)		—
Intl		935	893	4.8		0.4		4.4
WW		3,190	3,747	(14.9)		(15.9)		1.0
SIMPONI / SIMPONI ARIA
US		1,127	1,155	(2.4)		(2.4)		—
Intl		1,148	1,088	5.5		4.1		1.4
WW		2,276	2,243	1.4		0.8		0.6
STELARA
US		5,938	5,240	13.3		13.3		—
Intl		3,196	2,467	29.6		25.9		3.7
WW		9,134	7,707	18.5		17.3		1.2
TREMFYA
US		1,503	926	62.3		62.3		—
Intl		624	421	48.2		44.0		4.2
WW		2,127	1,347	57.9		56.5		1.4
OTHER IMMUNOLOGY
US		21	—	*		*		—
Intl		3	11	(73.3)		(74.6)		1.3
WW		24	11	*		*		*
INFECTIOUS DISEASES
US		2,249	1,735	29.7		29.7		—
Intl		3,612	1,839	96.3		93.4		2.9
WW		5,861	3,574	64.0		62.5		1.5
COVID-19 VACCINE
US		634	—	*		*		—
Intl		1,751	—	*		*		—
WW		2,385	—	*		*		—
EDURANT / rilpivirine
US		41	44	(7.6)		(7.6)		—
Intl		953	920	3.6		0.4		3.2
WW		994	964	3.1		0.0		3.1
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		1,508	1,587	(4.9)		(4.9)		—
Intl		575	597	(3.6)		(6.0)		2.4
WW		2,083	2,184	(4.6)		(5.2)		0.6
OTHER INFECTIOUS DISEASES
US		66	104	(36.0)		(36.0)		—
Intl		333	323	3.0		(0.1)		3.1
WW		399	427	(6.5)		(8.9)		2.4
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2021	2020	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (3) (Continued)
NEUROSCIENCE
US	$	3,347	3,091	8.3	%	8.3	%	—	%
Intl		3,664	3,457	6.0		3.9		2.1
WW		7,011	6,548	7.1		5.9		1.2
CONCERTA / methylphenidate
US		172	183	(5.8)		(5.8)		—
Intl		495	439	12.8		10.1		2.7
WW		667	622	7.3		5.4		1.9
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		2,550	2,314	10.2		10.2		—
Intl		1,472	1,339	10.0		6.9		3.1
WW		4,022	3,653	10.1		9.0		1.1
RISPERDAL CONSTA
US		287	296	(2.9)		(2.9)		—
Intl		305	346	(11.8)		(13.1)		1.3
WW		592	642	(7.7)		(8.4)		0.7
OTHER NEUROSCIENCE
US		338	298	13.3		13.3		—
Intl		1,391	1,334	4.3		3.2		1.1
WW		1,729	1,632	6.0		5.0		1.0
ONCOLOGY
US		5,958	5,092	17.0		17.0		—
Intl		8,590	7,275	18.1		15.3		2.8
WW		14,548	12,367	17.6		16.0		1.6
DARZALEX
US		3,169	2,232	42.0		42.0		—
Intl		2,854	1,958	45.8		42.6		3.2
WW		6,023	4,190	43.8		42.3		1.5
ERLEADA
US		813	583	39.3		39.3		—
Intl		478	176	*		*		*
WW		1,291	760	70.0		68.7		1.3
IMBRUVICA
US		1,747	1,821	(4.0)		(4.0)		—
Intl		2,622	2,307	13.6		10.4		3.2
WW		4,369	4,128	5.8		4.1		1.7
ZYTIGA / abiraterone acetate
US		119	373	(68.1)		(68.1)		—
Intl		2,178	2,097	3.9		1.5		2.4
WW		2,297	2,470	(7.0)		(9.0)		2.0
OTHER ONCOLOGY
US		110	83	31.7		31.7		—
Intl		458	738	(37.9)		(38.7)		0.8
WW		568	821	(30.8)		(31.5)		0.7
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2021	2020	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (3) (Continued)
PULMONARY HYPERTENSION
US	$	2,365	2,133	10.9	%	10.9	%	—	%
Intl		1,085	1,015	6.9		5.5		1.4
WW		3,450	3,148	9.6		9.2		0.4
OPSUMIT
US		1,147	1,008	13.7		13.7		—
Intl		672	631	6.6		5.1		1.5
WW		1,819	1,639	11.0		10.4		0.6
UPTRAVI
US		1,056	955	10.5		10.5		—
Intl		181	138	31.1		27.0		4.1
WW		1,237	1,093	13.1		12.6		0.5
OTHER PULMONARY HYPERTENSION
US		163	169	(3.7)		(3.7)		—
Intl		232	247	(5.9)		(5.4)		(0.5)
WW		395	416	(5.0)		(4.7)		(0.3)
CARDIOVASCULAR / METABOLISM / OTHER
US		3,192	3,509	(9.0)		(9.0)		—
Intl		1,268	1,369	(7.4)		(10.9)		3.5
WW		4,460	4,878	(8.6)		(9.6)		1.0
XARELTO
US		2,438	2,345	4.0		4.0		—
Intl		—	—	—		—		—
WW		2,438	2,345	4.0		4.0		—
INVOKANA / INVOKAMET
US		308	564	(45.4)		(45.4)		—
Intl		254	231	9.9		5.4		4.5
WW		563	795	(29.3)		(30.6)		1.3
PROCRIT / EPREX
US		223	277	(19.7)		(19.7)		—
Intl		256	274	(6.8)		(10.1)		3.3
WW		479	552	(13.3)		(14.9)		1.6
OTHER
US		223	323	(31.0)		(31.0)		—
Intl		758	864	(12.2)		(15.5)		3.3
WW		981	1,186	(17.3)		(19.7)		2.4
TOTAL PHARMACEUTICAL
US		27,954	25,735	8.6		8.6		—
Intl		24,126	19,837	21.6		18.8		2.8
WW	$	52,080	45,572	14.3	%	13.1	%	1.2	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2021	2020	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2)
INTERVENTIONAL SOLUTIONS
US	$	1,836	1,452	26.4	%	26.4	%	—	%
Intl		2,135	1,594	34.0		29.8		4.2
WW		3,971	3,046	30.4		28.2		2.2
ORTHOPAEDICS
US		5,126	4,779	7.3		7.3		—
Intl		3,462	2,984	16.0		12.1		3.9
WW		8,588	7,763	10.6		9.1		1.5
HIPS
US		883	793	11.4		11.4		—
Intl		602	487	23.6		18.9		4.7
WW		1,485	1,280	16.0		14.3		1.7
KNEES
US		787	743	5.9		5.9		—
Intl		538	427	26.1		21.7		4.4
WW		1,325	1,170	13.3		11.7		1.6
TRAUMA
US		1,819	1,648	10.4		10.4		—
Intl		1,066	966	10.4		7.1		3.3
WW		2,885	2,614	10.4		9.2		1.2
SPINE, SPORTS & OTHER
US		1,637	1,595	2.6		2.6		—
Intl		1,256	1,104	13.8		9.9		3.9
WW		2,893	2,699	7.2		5.6		1.6
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		TWELVE MONTHS
				% Change
		2021	2020	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2) (Continued)
SURGERY
US	$	3,867	3,249	19.0	%	19.0	%	—	%
Intl		5,945	4,983	19.3		15.6		3.7
WW		9,812	8,232	19.2		17.0		2.2
ADVANCED
US		1,761	1,535	14.9		14.9		—
Intl		2,861	2,304	24.1		20.0		4.1
WW		4,622	3,839	20.4		18.0		2.4
GENERAL
US		2,105	1,714	22.7		22.7		—
Intl		3,085	2,679	15.2		11.8		3.4
WW		5,190	4,392	18.1		16.1		2.0
VISION
US		1,857	1,557	19.3		19.3		—
Intl		2,831	2,362	19.8		18.8		1.0
WW		4,688	3,919	19.6		19.0		0.6
CONTACT LENSES / OTHER
US		1,398	1,213	15.2		15.2		—
Intl		2,043	1,781	14.7		14.0		0.7
WW		3,440	2,994	14.9		14.5		0.4
SURGICAL
US		459	344	33.5		33.5		—
Intl		788	581	35.7		33.3		2.4
WW		1,248	925	34.9		33.4		1.5
TOTAL MEDICAL DEVICES
US		12,686	11,036	14.9		14.9		—
Intl		14,374	11,923	20.6		17.3		3.3
WW	$	27,060	22,959	17.9	%	16.2	%	1.7	%
Note: Column and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-
rounded figures and, therefore, may not recalculate precisely.
The Company estimates that the inclusion of an additional week in the 2020 fiscal year impacted fiscal fourth quarter 2021 comparative sales growth by approximately -4% and full year fiscal 2021 comparative sales growth by approximately -1%.
* Percentage greater than 100% or not meaningful
(1) Operational growth excludes the effect of translational currency
(2) Unaudited
(3) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Reported as U.S. sales

XML

Cover	Jan. 25, 2022
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Jan. 25, 2022
Entity Registrant Name	Johnson & Johnson
Entity Incorporation, State or Country Code	NJ
Entity File Number	1-3215
Entity Tax Identification Number	22-1024240
Entity Address, Address Line One	One Johnson & Johnson Plaza
Entity Address, City or Town	New Brunswick
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08933
City Area Code	732
Local Phone Number	524-0400
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000200406
Amendment Flag	false
Common Stock, Par Value $1.00
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, Par Value $1.00
Trading Symbol	JNJ
Security Exchange Name	NYSE
0.650% Notes Due May 2024
Entity Information [Line Items]
Title of 12(b) Security	0.650% Notes Due May 2024
Trading Symbol	JNJ24C
Security Exchange Name	NYSE
5.50% Notes Due November 2024
Entity Information [Line Items]
Title of 12(b) Security	5.50% Notes Due November 2024
Trading Symbol	JNJ24BP
Security Exchange Name	NYSE
1.150% Notes Due November 2028
Entity Information [Line Items]
Title of 12(b) Security	1.150% Notes Due November 2028
Trading Symbol	JNJ28
Security Exchange Name	NYSE
1.650% Notes Due May 2035
Entity Information [Line Items]
Title of 12(b) Security	1.650% Notes Due May 2035
Trading Symbol	JNJ35
Security Exchange Name	NYSE