EX-99.2 3 a2023q3exhibit992.htm EX-99.2 Document

Exhibit 99.2


Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
THIRD QUARTER
Percent Change
20232022TotalOperationsCurrency
Sales to customers by
geographic area
U.S.$11,996  10,794  11.1 % 11.1 — 
Europe 4,727  4,844 (2.4) (7.8) 5.4
Western Hemisphere excluding U.S. 1,171  1,059  10.5  12.8  (2.3)
Asia-Pacific, Africa 3,457  3,299  4.8  9.4  (4.6)
International 9,355  9,202  1.6  0.7  0.9
      
Worldwide$21,351  19,996  6.8 % 6.4  0.4
        
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)
NINE MONTHS
Percent Change
20232022TotalOperationsCurrency
Sales to customers by
geographic area
U.S.$34,435  31,161  10.5 % 10.5 — 
Europe 15,448  15,540  (0.6) (1.0) 0.4
Western Hemisphere excluding U.S. 3,383  3,084  9.7  15.0  (5.3)
Asia-Pacific, Africa 10,498  10,266  2.2  8.7  (6.5)
International 29,329  28,890  1.5  4.2  (2.7)
      
Worldwide$63,764  60,051  6.2 % 7.5  (1.3)
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)
THIRD QUARTER
 Percent Change
20232022TotalOperationsCurrency
Sales to customers by
segment of business
Innovative Medicine (1,2)
    U.S.8,249 7,438 10.9 10.9 — 
    International5,644 5,776 (2.3)(4.3)2.0 
13,893    13,214 5.1 4.3 0.8 
Innovative Medicine excluding COVID-19 Vaccine (1,2)
     U.S.8,249 7,438 10.9 10.9— 
     International5,603 5,287 5.9 4.31.6 
13,852 12,725 8.9 8.20.7 
MedTech
    U.S.3,747    3,356 11.6 11.6 — 
    International3,711 3,426 8.3 9.2 (0.9)
 7,458    6,782 10.0 10.4 (0.4)
U.S.11,996 10,794 11.1 11.1 — 
International9,355 9,202 1.6 0.7 0.9 
Worldwide21,351 19,996 6.8 6.4 0.4 
      
U.S.11,996 10,794 11.1 11.1 — 
International9,314 8,713 6.9 6.3 0.6 
Worldwide excluding COVID-19 Vaccine (1)
$21,310 19,507 9.2 %9.0 0.2 
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales reconciliation schedules.
(2) Previously referred to as Pharmaceutical




Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
NINE MONTHS
 Percent Change
20232022TotalOperationsCurrency
Sales to customers by
segment of business
Innovative Medicine (1,2)
    U.S.23,090 21,229 8.8 8.8 — 
    International17,947 18,171 (1.2)0.8 (2.0)
41,037    39,400 4.2 5.1 (0.9)
Innovative Medicine excluding COVID-19 Vaccine (1,2)
     U.S.23,090 21,109 9.4 9.4— 
     International16,874 16,801 0.4 2.7(2.3)
39,964 37,910 5.4 6.4(1.0)
MedTech
    U.S.11,345    9,932 14.2 14.2 — 
    International11,382 10,719 6.2 10.0 (3.8)
 22,727    20,651 10.0 12.0 (2.0)
U.S.34,435 31,161 10.5 10.5 — 
International29,329 28,890 1.5 4.2 (2.7)
Worldwide63,764 60,051 6.2 7.5 (1.3)
      
U.S.34,435 31,041 10.9 10.9 — 
International28,256 27,520 2.7 5.5 (2.8)
Worldwide excluding COVID-19 Vaccine (1)
$62,691 58,561 7.1 %8.4 (1.3)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales reconciliation schedules.
(2) Previously referred to as Pharmaceutical


Johnson & Johnson and Subsidiaries 
Condensed Consolidated Statement of Earnings  
(Unaudited; in Millions Except Per Share Figures)
THIRD QUARTER
20232022Percent
PercentPercentIncrease
Amountto SalesAmountto Sales(Decrease)
Sales to customers$21,351 100.0 $19,996 100.0 6.8 
Cost of products sold6,606 30.9 6,172 30.9 7.0 
Gross Profit14,745 69.1 13,824 69.1 6.7 
Selling, marketing and administrative expenses5,400 25.3 4,975 24.9 8.5 
Research and development expense3,447 16.2 3,485 17.4 (1.1)
In-process research and development impairments206 1.0 — —  
Interest (income) expense, net(182)(0.8)(99)(0.5) 
Other (income) expense, net499 2.3 226 1.1  
Restructuring158 0.7 65 0.3  
Earnings before provision for taxes on income5,217 24.4 5,172 25.9 0.9 
Provision for taxes on income908 4.2 862 4.3 5.3 
Net earnings from Continuing Operations$4,309 20.2 $4,310 21.6 0.0 
Net earnings from Discontinued Operations, net of tax21,719    148    
Net earnings$26,028    $4,458    
Net earnings per share (Diluted) from Continuing Operations$1.69 $1.62 4.3 
Net earnings per share (Diluted) from Discontinued Operations$8.52 $0.06 
Average shares outstanding (Diluted)2,549.7 2,661.3 
Effective tax rate from Continuing Operations17.4 %16.7 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations$8,033 37.6$7,060 35.313.8 
Net earnings from Continuing Operations$6,777 31.7$5,938 29.714.1 
Net earnings per share (Diluted) from Continuing Operations$2.66 $2.23 19.3 
Effective tax rate from Continuing Operations15.6 %15.9 %
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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)
NINE MONTHS
20232022Percent
PercentPercentIncrease
Amountto SalesAmountto Sales(Decrease)
Sales to customers$63,764 100.0 $60,051 100.0 6.2 
Cost of products sold19,755 31.0 18,512 30.8 6.7 
Gross Profit44,009 69.0 41,539 69.2 5.9 
Selling, marketing and administrative expenses15,702 24.6 14,907 24.8 5.3 
Research and development expense10,605 16.6 10,425 17.4 1.7 
In-process research and development impairments255 0.4 610 1.0  
Interest (income) expense, net(277)(0.4)(137)(0.2) 
Other (income) expense, net7,055 11.1 15 0.0  
Restructuring433 0.6 200 0.4  
Earnings before provision for taxes on income10,236 16.1 15,519 25.8 (34.0)
Provision for taxes on income1,042 1.7 2,376 3.9 (56.1)
Net earnings from Continuing Operations$9,194 14.4 $13,143 21.9 (30.0)
Net earnings from Discontinued Operations, net of tax21,910    1,278    
Net earnings$31,104    $14,421    
Net earnings per share (Diluted) from Continuing Operations$3.53 $4.93 (28.4)
Net earnings per share (Diluted) from Discontinued Operations$8.42 $0.48 
Average shares outstanding (Diluted)2,603.4 2,667.5 
Effective tax rate from Continuing Operations10.2 %15.3 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations$23,574 37.0$21,491 35.89.7 
Net earnings from Continuing Operations$19,847 31.1$18,364 30.68.1 
Net earnings per share (Diluted) from Continuing Operations$7.62 $6.89 10.6 
Effective tax rate from Continuing Operations15.8 %14.6 %
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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
Third Quarter
(Dollars in Millions Except Per Share Data)20232022
Net Earnings from Continuing Operations, after tax- as reported$4,309 $4,310 
Pre-tax Adjustments
Litigation related(51)219
Intangible Asset Amortization expense1,132 958
COVID-19 Vaccine related costs 1
44  377
Restructuring related 2
384 92
Medical Device Regulation 3
74  78
Acquisition, integration and divestiture related  22  -
(Gains)/losses on securities 1,005 164
IPR&D impairments206  -
Tax Adjustments
Tax impact on special item adjustments 4
(482)(312)
Tax legislation and other tax related13452
Adjusted Net Earnings from Continuing Operations, after tax$6,777 $5,938 
Average shares outstanding (Diluted)2,549.7 2,661.3 
Adjusted net earnings per share (Diluted) from Continuing Operations$2.66 $2.23 
Operational adjusted net earnings per share (Diluted) from Continuing Operations$2.54  
 
Notes:
1
COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2
In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of $149 million in the quarter ($424 million Q3 YTD) include the termination of partnered and non-partnered program costs and asset impairments.

In the third quarter of 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense in the quarter of $235 million primarily includes inventory and instrument reserves related to the market and product exits.
3
European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
4
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
Nine Months Ended
(Dollars in Millions Except Per Share Data)20232022
Net Earnings from Continuing Operations, after tax- as reported$9,194 $13,143 
Pre-tax Adjustments
Litigation related6,986 604
Intangible Asset Amortization expense3,384 2,967
COVID-19 Vaccine related costs 1
653  653
Restructuring related 2
659 253
Medical Device Regulation 3
223  208
Acquisition, integration and divestiture related 102  -
(Gains)/losses on securities1,076 684
IPR&D impairments255  610
Other - (7)
Tax Adjustments
Tax impact on special item adjustments 4
(2,769)(900)
Tax legislation and other tax related84  149
Adjusted Net Earnings from Continuing Operations, after tax$19,847 $18,364 
Average shares outstanding (Diluted)2,603.4 2,667.5 
Adjusted net earnings per share (Diluted) from Continuing Operations$7.62 $6.89 
Operational adjusted net earnings per share (Diluted) from Continuing Operations$7.60  
Notes:
1
COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2
In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of $149 million in the quarter ($424 million Q3 YTD) include the termination of partnered and non-partnered program costs and asset impairments.

In the third quarter of 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense in the quarter of $235 million primarily includes inventory and instrument reserves related to the market and product exits.
3
European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
4
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)
 THIRD QUARTER 2023 ACTUAL vs. 2022 ACTUAL
 Segments
 Innovative Medicine MedTech  Total
 WW As Reported 5.1 %10.0 %6.8 %
 U.S. 10.9 %11.6 %11.1 %
 International (2.3)%8.3 %1.6 %
 WW Currency 0.8(0.4)0.4
 U.S. ———
 International 2.0(0.9)0.9
 WW Operational 4.3 %10.4 %6.4 %
 U.S. 10.9 %11.6 %11.1 %
 International(4.3)%9.2 %0.7 %
Abiomed (4.6)(1.6)
 U.S.(7.6)(2.3)
 International(1.7)(0.6)
All Other Acquisitions and Divestitures0.10.20.1
 U.S. 0.00.30.1
 International 0.20.10.2
WW Adjusted Operational4.4 %6.0 %4.9 %
 U.S. 10.9 %4.3 %8.9 %
 International (4.1)%7.6 %0.3 %
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)
NINE MONTHS 2023 ACTUAL vs. 2022 ACTUAL
Segments
Innovative MedicineMedTechTotal
WW As Reported4.2 %10.0 %6.2 %
U.S.8.8 %14.2 %10.5 %
International(1.2)%6.2 %1.5 %
WW Currency(0.9)(2.0)(1.3)
U.S.———
International(2.0)(3.8)(2.7)
WW Operational5.1 %12.0 %7.5 %
U.S.8.8 %14.2 %10.5 %
International0.8 %10.0 %4.2 %
Abiomed(4.7)(1.6)
U.S.(7.9)(2.5)
International(1.6)(0.6)
All Other Acquisitions and Divestitures0.10.10.1
U.S.0.00.10.0
International0.20.00.1
WW Adjusted Operational5.2 %7.4 %6.0 %
U.S.8.8 %6.4 %8.0 %
International1.0 %8.4 %3.7 %
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)
THIRD QUARTER
% Change
20232022Reported
Operational (1)
Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)
IMMUNOLOGY
US$3,1932,87611.0 %11.0 %— %
Intl1,6561,41117.4 15.2 2.2 
WW4,8494,28713.1 12.4 0.7 
     REMICADE
     US296350(15.4)(15.4)— 
     US Exports (5)
3839(2.5)(2.5)— 
     Intl127169(25.1)(24.3)(0.8)
     WW461558(17.4)(17.1)(0.3)
     SIMPONI / SIMPONI ARIA
     US3102983.9 3.9 — 
     Intl31924829.1 30.2 (1.1)
     WW62954515.3 15.8 (0.5)
     STELARA
     US1,9121,65515.5 15.5 — 
     Intl95179419.9 16.2 3.7 
     WW2,8642,44916.9 15.8 1.1 
     TREMFYA
     US634 530 19.6 19.6 — 
     Intl258 200 29.0 26.3 2.7 
     WW891 729 22.2 21.5 0.7 
     OTHER IMMUNOLOGY
     US2 5 (47.1)(47.1)— 
     Intl0 0 ——— 
     WW2 5 (47.1)(47.1)— 
INFECTIOUS DISEASES
US360390(7.8)(7.8)— 
Intl500905(44.8)(50.7)5.9 
WW8591,295(33.6)(37.8)4.2 
     COVID-19 VACCINE
     US0 0 ——— 
     Intl41489(91.5)(97.8)6.3
     WW41489(91.5)(97.8)6.3
     EDURANT / rilpivirine
     US9 9 10.210.2— 
     Intl287 237 21.413.48.0 
     WW297 245 21.013.37.7 
     PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
     US345372(7.3)(7.3)— 
     Intl102112(9.5)(15.0)5.5 
     WW447485(7.8)(9.0)1.2 
     OTHER INFECTIOUS DISEASES
     US510(42.7)(42.7)— 
     Intl69682.05.5(3.5)
     WW7477(3.6)(0.5)(3.1)
See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)
THIRD QUARTER
% Change
20232022Reported
Operational (1)
Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)
NEUROSCIENCE
US$1,03691912.7%12.7%—%
Intl706763(7.4)(5.1)(2.3)
WW1,7421,6813.64.6(1.0)
     CONCERTA / methylphenidate
     US574138.138.1—
     Intl13311713.615.5(1.9)
     WW18915820.021.4(1.4)
     INVEGA SUSTENNA / XEPLION / INVEGA
     TRINZA / TREVICTA
     US7306846.86.8—
     Intl299348(14.0)(14.4)0.4
     WW1,0291,031(0.2)(0.3)0.1
     SPRAVATO
     US1548875.175.1—
     Intl2912***
     WW18310082.181.01.1
     OTHER NEUROSCIENCE
     US94106(11.3)(11.3)—
     Intl245286(13.9)(7.8)(6.1)
     WW340393(13.2)(8.7)(4.5)
ONCOLOGY
US2,2191,81222.522.5—
Intl2,3132,2522.70.72.0
WW4,5334,06411.510.41.1
     CARVYKTI
US140 55 **—
Intl12 — **—
WW152 55 **—
     DARZALEX
     US1,369 1,097 24.824.8—
     Intl1,130 955 18.316.02.3
     WW2,499 2,052 21.820.71.1
     ERLEADA
     US288 254 12.912.9—
     Intl342 235 45.842.33.5
     WW631 490 28.727.01.7
     IMBRUVICA
     US264 353 (25.2)(25.2)—
     Intl545 559 (2.5)(4.6)2.1
     WW808 911 (11.3)(12.6)1.3
     ZYTIGA / abiraterone acetate
     US1616 (2.8)(2.8)—
     Intl199440(54.9)(55.1)0.2
     WW214456(53.0)(53.2)0.2
     OTHER ONCOLOGY
     US143 37 **—
     Intl866434.530.44.1
     WW229100***
See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)
THIRD QUARTER
% Change
20232022Reported
Operational (1)
Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)
PULMONARY HYPERTENSION
US$680 604 12.6 %12.6 %— %
Intl274 247 10.5 11.7 (1.2)
WW954 852 12.0 12.4 (0.4)
     OPSUMIT
     US323 289 12.2 12.2 — 
     Intl166 152 9.3 8.6 0.7 
     WW490 441 11.2 10.9 0.3 
     UPTRAVI
     US336 283 18.9 18.9 — 
     Intl66 50 30.9 33.8 (2.9)
     WW402 333 20.7 21.1 (0.4)
     OTHER PULMONARY HYPERTENSION
     US20 33 (37.1)(37.1)— 
     Intl42 46 (7.5)(2.1)(5.4)
     WW63 78 (19.8)(16.6)(3.2)
CARDIOVASCULAR / METABOLISM / OTHER
US763837(8.8)(8.8)— 
Intl194198(2.1)(4.7)2.6 
WW9571,034(7.5)(8.0)0.5 
     XARELTO
     US625 689 (9.4)(9.4)— 
     Intl— — — — — 
     WW625 689 (9.4)(9.4)— 
     OTHER
     US139 147 (6.1)(6.1)— 
     Intl194 198 (2.1)(4.7)2.6 
     WW332 345 (3.8)(5.3)1.5 
TOTAL INNOVATIVE MEDICINE
US8,2497,43810.9 10.9 — 
Intl5,6445,776(2.3)(4.3)2.0 
WW$13,89313,2145.1 %4.3 %0.8 %
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
THIRD QUARTER
% Change
20232022Reported
Operational (1)
Currency
MEDTECH SEGMENT (2,3)
INTERVENTIONAL SOLUTIONS
US$891 547 63.0 %63.0 %— %
Intl667 51329.9 32.2 (2.3)
WW1,558 1,06047.0 48.1 (1.1)
ELECTROPHYSIOLOGY
US611 520 17.6 17.6 — 
Intl549 45321.2 23.4 (2.2)
WW1,161 97319.3 20.3 (1.0)
ABIOMED
US254 —**— 
Intl57 —**— 
WW311 —**— 
OTHER INTERVENTIONAL SOLUTIONS
US26 27 (3.2)(3.2)— 
Intl61 60 1.0 3.7 (2.7)
WW87 87(0.3)1.6 (1.9)
ORTHOPAEDICS
US1,349 1,309 3.1 3.1 — 
Intl815 785 3.9 1.7 2.2 
WW2,164 2,095 3.4 2.6 0.8 
     HIPS
     US239 228 4.9 4.9 — 
     Intl136 124 9.3 7.3 2.0 
     WW375 352 6.5 5.8 0.7 
     KNEES
     US207 203 2.3 2.3 — 
     Intl131 115 14.6 11.7 2.9 
     WW338 317 6.7 5.7 1.0 
     TRAUMA
     US488 473 3.2 3.2 — 
     Intl253 244 4.2 0.8 3.4 
     WW742 717 3.5 2.4 1.1 
     SPINE, SPORTS & OTHER
     US415 406 2.3 2.3 — 
     Intl295 303 (2.6)(3.6)1.0 
     WW710 708 0.2 (0.2)0.4 
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
THIRD QUARTER
% Change
20232022Reported
Operational (1)
Currency
MEDTECH SEGMENT (2,3)(Continued)
SURGERY
US$994 984 1.1 %1.1 %— %
Intl1,483 1,439 3.1 4.6 (1.5)
WW2,479 2,422 2.3 3.2 (0.9)
     ADVANCED
US455 457 (0.4)(0.4)— 
Intl709 701 1.0 2.7 (1.7)
WW1,164 1,158 0.5 1.5 (1.0)
     GENERAL
US540 527 2.4 2.4 — 
Intl775 737 5.1 6.5 (1.4)
WW1,314 1,264 4.0 4.8 (0.8)
VISION
US512 517 (1.0)(1.0)— 
Intl744 689 8.1 10.1 (2.0)
WW1,256 1,206 4.2 5.4 (1.2)
     CONTACT LENSES / OTHER
US399 405 (1.2)(1.2)— 
Intl529 503 4.9 8.2 (3.3)
WW928 908 2.2 4.0 (1.8)
     SURGICAL
US112 112 (0.1)(0.1)— 
Intl216 186 16.615.4 1.2 
WW328 298 10.39.50.8 
TOTAL MEDTECH
US3,747 3,356 11.6 11.6 — 
Intl3,711 3,426 8.3 9.2 (0.9)
WW$7,458 6,782 10.0 %10.4 %(0.4)%
See footnotes at end of schedule




Johnson & Johnson
Segment Sales
(Dollars in Millions)
NINE MONTHS
% Change
20232022Reported
Operational (1)
Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)
IMMUNOLOGY
US$8,5068,2303.3 %3.3 %— %
Intl4,9514,5877.9 10.3 (2.4)
WW13,45712,8175.0 5.9 (0.9)
     REMICADE
     US8491,099(22.7)(22.7)— 
     US Exports (5)
112163(31.3)(31.3)— 
     Intl449606(25.9)(23.0)(2.9)
     WW1,4101,868(24.5)(23.6)(0.9)
     SIMPONI / SIMPONI ARIA
     US866886(2.3)(2.3)— 
     Intl8297974.1 8.6 (4.5)
     WW1,6951,6820.8 2.9 (2.1)
     STELARA
     US5,1804,7668.7 8.7 — 
     Intl2,9252,57113.8 15.5 (1.7)
     WW8,1057,33610.5 11.1 (0.6)
     TREMFYA
     US1,490 1,303 14.4 14.4 — 
     Intl747 613 21.9 24.0 (2.1)
     WW2,237 1,916 16.8 17.4 (0.6)
     OTHER IMMUNOLOGY
     US9 14 (36.1)(36.1)— 
     Intl0 0 ——— 
     WW9 14 (36.1)(36.1)— 
INFECTIOUS DISEASES
US1,1471,266(9.4)(9.4)— 
Intl2,4202,642(8.4)(9.3)0.9 
WW3,5663,908(8.7)(9.3)0.6 
     COVID-19 VACCINE
     US0120**— 
     Intl1,0731,370(21.6)(23.0)1.4
     WW1,0731,490(27.9)(29.2)1.3
     EDURANT / rilpivirine
     US26 27 (0.5)(0.5)— 
     Intl816 691 18.216.41.8 
     WW843 718 17.515.81.7 
     PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
     US1,1051,0960.90.9— 
     Intl310354(12.5)(13.0)0.5 
     WW1,4151,450(2.4)(2.5)0.1 
     OTHER INFECTIOUS DISEASES
     US1524(35.5)(35.5)— 
     Intl220228(3.4)0.8(4.2)
     WW235251(6.4)(2.6)(3.8)
See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)
NINE MONTHS
% Change
20232022Reported
Operational (1)
Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)
NEUROSCIENCE
US$3,0432,65814.5%14.5%—%
Intl2,2962,498(8.1)(4.2)(3.9)
WW5,3395,1563.55.4(1.9)
     CONCERTA / methylphenidate
     US19111467.467.4—
     Intl41236213.819.0(5.2)
     WW60347626.730.7(4.0)
     INVEGA SUSTENNA / XEPLION / INVEGA
     TRINZA / TREVICTA
     US2,1642,0366.36.3—
     Intl9401,097(14.3)(11.9)(2.4)
     WW3,1043,132(0.9)(0.1)(0.8)
     SPRAVATO
     US40922383.183.1—
     Intl7432***
     WW48325588.888.70.1
     OTHER NEUROSCIENCE
     US278285(2.3)(2.3)—
     Intl8701,007(13.5)(8.5)(5.0)
     WW1,1491,293(11.0)(7.1)(3.9)
ONCOLOGY
US6,1775,07321.821.8—
Intl6,8656,983(1.7)0.3(2.0)
WW13,04312,0568.29.3(1.1)
     CARVYKTI
US324 79 **—
Intl17 — **—
WW341 79 **—
     DARZALEX
     US3,882 3,071 26.426.4—
     Intl3,312 2,823 17.319.7(2.4)
     WW7,194 5,894 22.123.2(1.1)
     ERLEADA
     US778 693 12.212.2—
     Intl961 647 48.751.0(2.3)
     WW1,740 1,340 29.830.9(1.1)
     IMBRUVICA
     US796 1,072 (25.8)(25.8)—
     Intl1,681 1,847 (9.0)(7.6)(1.4)
     WW2,476 2,918 (15.2)(14.2)(1.0)
     ZYTIGA / abiraterone acetate
     US4154 (24.9)(24.9)—
     Intl6461,446(55.3)(53.6)(1.7)
     WW6861,500(54.2)(52.6)(1.6)
     OTHER ONCOLOGY
     US357 104 **—
     Intl24822012.513.8(1.3)
     WW60532486.587.4(0.9)
See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)
NINE MONTHS
% Change
20232022Reported
Operational (1)
Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)
PULMONARY HYPERTENSION
US$1,964 1,736 13.1 %13.1 %— %
Intl835 810 3.0 7.4 (4.4)
WW2,798 2,547 9.9 11.3 (1.4)
     OPSUMIT
     US924 827 11.8 11.8 — 
     Intl512 495 3.5 6.8 (3.3)
     WW1,437 1,322 8.7 9.9 (1.2)
     UPTRAVI
     US978 824 18.7 18.7 — 
     Intl185 162 14.1 18.6 (4.5)
     WW1,163 986 18.0 18.7 (0.7)
     OTHER PULMONARY HYPERTENSION
     US61 86 (28.4)(28.4)— 
     Intl137 154 (10.5)(2.6)(7.9)
     WW199 239 (16.9)(11.8)(5.1)
CARDIOVASCULAR / METABOLISM / OTHER
US2,2542,266(0.5)(0.5)— 
Intl580651(10.8)(9.8)(1.0)
WW2,8342,916(2.8)(2.6)(0.2)
     XARELTO
     US1,840 1,806 1.9 1.9 — 
     Intl— — — — — 
     WW1,840 1,806 1.9 1.9 — 
     OTHER
     US414 459 (9.9)(9.9)— 
     Intl580 651 (10.8)(9.8)(1.0)
     WW994 1,110 (10.5)(9.8)(0.7)
TOTAL INNOVATIVE MEDICINE
US23,09021,2298.8 8.8 — 
Intl17,94718,171(1.2)0.8 (2.0)
WW$41,03739,4004.2 %5.1 %(0.9)%
See footnotes at end of schedule











Johnson & Johnson
Segment Sales
(Dollars in Millions)
NINE MONTHS
% Change
20232022Reported
Operational (1)
Currency
MEDTECH SEGMENT (2,3)
INTERVENTIONAL SOLUTIONS
US$2,662 1,566 70.0 %70.0 %— %
Intl2,019 1,63623.4 28.6 (5.2)
WW4,681 3,20246.2 48.9 (2.7)
ELECTROPHYSIOLOGY
US1,791 1,489 20.3 20.3 — 
Intl1,658 1,45414.0 19.2 (5.2)
WW3,449 2,94317.2 19.8 (2.6)
ABIOMED
US790 —**— 
Intl176 —**— 
WW966 —**— 
OTHER INTERVENTIONAL SOLUTIONS
US81 77 5.9 5.9 — 
Intl186 1812.2 7.2 (5.0)
WW267 2583.3 6.8 (3.5)
ORTHOPAEDICS
US4,100 3,936 4.2 4.2 — 
Intl2,574 2,504 2.8 4.9 (2.1)
WW6,674 6,440 3.6 4.5 (0.9)
     HIPS
     US730 693 5.4 5.4 — 
     Intl432 437 (1.0)1.1 (2.1)
     WW1,162 1,129 2.9 3.8 (0.9)
     KNEES
     US654 620 5.6 5.6 — 
     Intl415 386 7.7 9.7 (2.0)
     WW1,069 1,005 6.4 7.2 (0.8)
     TRAUMA
     US1,462 1,412 3.5 3.5 — 
     Intl775 749 3.5 5.0 (1.5)
     WW2,238 2,161 3.5 4.0 (0.5)
     SPINE, SPORTS & OTHER
     US1,254 1,211 3.5 3.5 — 
     Intl952 933 2.0 4.7 (2.7)
     WW2,205 2,144 2.8 4.0 (1.2)
See footnotes at end of schedule





Johnson & Johnson
Segment Sales
(Dollars in Millions)
NINE MONTHS
% Change
20232022Reported
Operational (1)
Currency
MEDTECH SEGMENT (2,3)(Continued)
SURGERY
US$2,984 2,897 3.0 %3.0 %— %
Intl4,522 4,410 2.6 6.7 (4.1)
WW7,507 7,306 2.7 5.3 (2.6)
     ADVANCED
US1,365 1,328 2.8 2.8 — 
Intl2,139 2,132 0.3 4.5 (4.2)
WW3,504 3,460 1.3 3.8 (2.5)
     GENERAL
US1,619 1,569 3.2 3.2 — 
Intl2,383 2,277 4.7 8.8 (4.1)
WW4,002 3,846 4.1 6.5 (2.4)
VISION
US1,599 1,534 4.2 4.2 — 
Intl2,265 2,170 4.4 8.3 (3.9)
WW3,864 3,704 4.3 6.6 (2.3)
     CONTACT LENSES / OTHER
US1,252 1,179 6.2 6.2 — 
Intl1,568 1,533 2.3 7.0 (4.7)
WW2,820 2,712 4.0 6.6 (2.6)
     SURGICAL
US346 355 (2.5)(2.5)— 
Intl698 637 9.611.7 (2.1)
WW1,044 992 5.36.6(1.3)
TOTAL MEDTECH
US11,345 9,932 14.2 14.2 — 
Intl11,382 10,719 6.2 10.0 (3.8)
WW$22,727 20,651 10.0 %12.0 %(2.0)%
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.
* 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) Previously referred to as Pharmaceutical
(5) Reported as U.S. sales


Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)
THIRD QUARTER
% Change
20232022TotalOperationsCurrency
Innovative Medicine
U.S.$8,249  7,438  10.9 % 10.9  -
International 5,644  5,776  (2.3) (4.3) 2.0
Worldwide 13,893  13,214  5.1  4.3  0.8
COVID-19 Vaccine
U.S. -  - - -  -
International 41  489  (91.5) (97.8) 6.3
Worldwide 41  489  (91.5) (97.8) 6.3
Innovative Medicine excluding COVID-19 Vaccine
U.S. 8,249  7,438  10.9  10.9  -
International 5,603  5,287  5.9  4.3  1.6
Worldwide 13,852  12,725  8.9  8.2  0.7
Worldwide
U.S. 11,996  10,794  11.1  11.1  -
International 9,355  9,202  1.6  0.7  0.9
Worldwide 21,351  19,996  6.8  6.4  0.4
COVID-19 Vaccine
U.S. -  - - -  -
International 41  489  (91.5) (97.8) 6.3
Worldwide 41  489  (91.5) (97.8) 6.3
Worldwide
U.S. 11,996  10,794  11.1  11.1  -
International 9,314  8,713  6.9  6.3  0.6
Worldwide excluding COVID-19 Vaccine$21,310  19,507  9.2 % 9.0  0.2
Note: Columns and rows within tables may not add due to rounding
* Percentage greater than 100% or not meaningful












Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)
NINE MONTHS
% Change
20232022TotalOperationsCurrency
Innovative Medicine
U.S.$23,090  21,229  8.8 % 8.8  -
International 17,947  18,171  (1.2) 0.8  (2.0)
Worldwide 41,037  39,400  4.2  5.1  (0.9)
COVID-19 Vaccine
U.S. -  120 ** -
International 1,073  1,370  (21.6) (23.0) 1.4
Worldwide 1,073  1,490  (27.9) (29.2) 1.3
Innovative Medicine excluding COVID-19 Vaccine
U.S. 23,090  21,109  9.4  9.4  -
International 16,874  16,801  0.4  2.7  (2.3)
Worldwide 39,964  37,910  5.4  6.4  (1.0)
Worldwide
U.S. 34,435  31,161  10.5  10.5  -
International 29,329  28,890  1.5  4.2  (2.7)
Worldwide 63,764  60,051  6.2  7.5  (1.3)
COVID-19 Vaccine
U.S. -  120  *  *  -
International 1,073  1,370  (21.6) (23.0) 1.4
Worldwide 1,073  1,490  (27.9) (29.2) 1.3
Worldwide
U.S. 34,435  31,041  10.9  10.9  -
International 28,256  27,520  2.7  5.5  (2.8)
Worldwide excluding COVID-19 Vaccine$62,691  58,561  7.1 % 8.4  (1.3)
Note: Columns and rows within tables may not add due to rounding
* Percentage greater than 100% or not meaningful