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Form 8-K JOHNSON & JOHNSON For: Jul 14

July 14, 2015 8:27 AM EDT


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):
 
July 14, 2015
 
(Exact name of registrant as specified in its charter)
 
 
New Jersey
I-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:
 
o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
               CFR 240.14d-2(b))
 
o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
               CFR 240.13e-4(c))
 
 
 
 





 





Item 2.02                      Results of Operations and Financial Condition
 
On July 14, 2015, Johnson & Johnson issued the attached press release announcing its sales and earnings for the second quarter ended June 28, 2015.
 
Item 9.01            Financial Statements and Exhibits
 
Exhibit No.
 
Description of Exhibit
 
99.15
 
Press Release dated July 14, 2015 for the period ended June 28, 2015.
 
99.2O
 
Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the second quarter. 
 
 






 
 
 


 

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: July 14, 2015
By:
/s/ Stephen J. Cosgrove
 
 
 
Stephen J. Cosgrove
Controller
(Principal Accounting Officer)
 






Exhibit 99.15


Johnson & Johnson Reports 2015 Second-Quarter Results:

Sales of $17.8 Billion Decreased 8.8% Versus 2014 Second Quarter
Second-Quarter EPS was $1.61
Adjusted 2015 Second-Quarter EPS of $1.71 Decreased 3.9%*
Solid Underlying Growth Offset by Currency and Divestitures

New Brunswick, N.J. (July 14, 2015) - Johnson & Johnson (NYSE: JNJ) today announced sales of $17.8 billion for the second quarter of 2015, a decrease of 8.8% as compared to the second quarter of 2014. Operational results decreased 0.9% and the negative impact of currency was 7.9%. Domestic sales decreased 2.4%. International sales decreased 14.3%, reflecting operational growth of 0.5% and a negative currency impact of 14.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.7%, domestic sales increased 0.6% and international sales increased 2.7%.* Additionally excluding hepatitis C sales, underlying operational growth worldwide was 5%.*
Net earnings and diluted earnings per share for the second quarter of 2015 were $4.5 billion and $1.61, respectively. Second quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.1 billion. Second quarter 2014 net earnings included after-tax intangible amortization expense of approximately $0.4 billion and a charge for after-tax special items of approximately $0.4 billion. A reconciliation of non-GAAP financial measures is included as an accompanying schedule. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.8 billion and adjusted diluted earnings per share were $1.71, representing decreases of 6.3% and 3.9%, respectively, as compared to the same period in 2014.* On an operational basis, adjusted diluted earnings per share increased 6.7%.* 
“Our solid sales and earnings results in the quarter reflect the strong underlying growth we’re seeing across the enterprise,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our diverse portfolio and scale are enabling this performance, and we’ve continued to invest in building a robust enterprise pipeline that will drive our growth over the long term. Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being."
The Company increased its adjusted earnings guidance for full-year 2015 to $6.10 - $6.20 per share. The Company’s guidance excludes the impact of after-tax intangible amortization expense and special items.
Worldwide Consumer sales of $3.5 billion for the second quarter represented a decrease of 7.0% versus the prior year, consisting of an operational increase of 2.3% and a negative impact from currency of 9.3%. Domestic sales increased 2.7%; international sales decreased 12.2%, which reflected an operational increase of 2.1% and a negative currency impact of 14.3%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 3.1%, domestic sales increased 2.9% and international sales increased 3.2%.*





Positive contributors to Consumer operational results were sales of over-the-counter products including ZYRTEC® allergy medications and TYLENOL® analgesics; international feminine protection products; and LISTERINE® oral care products.
Worldwide Pharmaceutical sales of $7.9 billion for the second quarter represented a decrease of 6.6% versus the prior year with operational growth of 1.0% and a negative impact from currency of 7.6%. Domestic sales decreased 1.5%; international sales decreased 12.7%, which reflected an operational increase of 3.8% and a negative currency impact of 16.5%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.5%, domestic sales decreased 0.6% and international sales increased 3.9%.* Additionally excluding hepatitis C sales, underlying operational growth worldwide was 9.7%.*
Worldwide operational sales growth was driven by new products and the strength of core products. New product sales growth was negatively impacted by lower sales of OLYSIO® (simeprevir) in the U.S and lower sales of SOVRIAD® (simeprevir) in Japan due to competitive entrants. Strong growth in new products include INVOKANA®/INVOKAMET® (canagliflozin), for the treatment of adults with type 2 diabetes; international sales of OLYSIO® (simeprevir), for combination treatment of chronic hepatitis C in adult patients; IMBRUVICA® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, or blood cancers; XARELTO® (rivaroxaban), an oral anticoagulant; and ZYTIGA® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer.
Additional contributors to operational sales growth were STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; INVEGA® SUSTENNA®/XEPLION® (paliperidone palmitate), a once-monthly, long-acting, injectable atypical antipsychotic for the treatment of schizophrenia in adults; domestic sales of CONCERTA® (methylphenidate HCI), for the treatment of attention deficit hyperactivity disorder; and SIMPONI®/SIMPONI ARIA® (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases.
During the quarter, the U.S. Food and Drug Administration (FDA) granted approval of INVEGA TRINZA™ (paliperidone palmitate), an atypical antipsychotic injection administered four times a year for the treatment of schizophrenia. In July, a rolling submission was completed with the FDA for the Biologic License Application for daratumumab for the treatment of multiple myeloma. The European Commission approved STELARA® (ustekinumab) for the treatment of adolescents with moderate-to-severe psoriasis, SIMPONI® (golimumab) for treatment of non-radiographic axial spondyloarthritis and IMBRUVICA® (ibrutinib) for the treatment of Waldenström’s Macroglobulinemia.
Also in the quarter, an exclusive worldwide license and collaboration arrangement was entered into with Achillion Pharmaceuticals, Inc. to develop and commercialize one or more of Achillion's lead hepatitis C virus assets.
Worldwide Medical Devices sales of $6.4 billion for the second quarter represented a decrease of 12.2% versus the prior year consisting of an operational decrease of 4.7% and a negative currency impact of 7.5%. Domestic sales decreased 5.8%; international sales decreased 17.3%, which reflected an operational decrease of 3.9% and a negative currency impact of 13.4%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.4%, domestic sales increased 1.6% and international sales increased 1.4%.*





Primary contributors to operational growth were sales of endocutters in the Surgical Care business; electrophysiology products in the Cardiovascular Care business; joint reconstruction products in the Orthopaedics business; international sales of contact lenses in the Vision Care business; and sales of biosurgicals and energy products in the Specialty Surgery business.
During the quarter, the Company announced the acceptance of the March 1, 2015 binding offer from Cardinal Health to acquire its Cordis business for an approximate value of $2 billion.


About Johnson & Johnson
Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 127,300 employees at more than 265 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.
* Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C sales, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted 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. 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 Investor Relations section of the Company’s website at www.investor.jnj.com.
        
Johnson & Johnson will conduct a conference call with investors to discuss this news 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 at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com.
Copies of the financial schedules accompanying this press release are available at www.investor.jnj.com/historical-sales.cfm.  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 a pharmaceutical pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can be found on the Company's website at www.investor.jnj.com.
 








NOTE TO INVESTORS
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 and business strategy. 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, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges and uncertainties inherent in new product development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; the impact of patent expirations; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and description 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 December 28, 2014, including Exhibit 99 thereto, and the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.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 statements as a result of new information or future events or developments.




Exhibit 99.2O


Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
 
Condensed Consolidated Statement of Earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; in Millions Except Per Share Figures)
SECOND QUARTER
 
 
 
 
 
 
 
 
 
 
 
2015
 
2014
 
Percent
 
 
 
Percent
 
 
 
Percent
 
Increase
 
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
 $ 17,787

 
     100.0

 
 $ 19,495
 
     100.0
 
(8.8)
Cost of products sold
      5,357

 
       30.1

 
      6,039
 
       31.0
 
(11.3)
Selling, marketing and administrative expenses
      5,384

 
       30.3

 
      5,481
 
       28.1
 
(1.8)
Research and development expense
      2,129

 
       12.0

 
      2,005
 
       10.3
 
6.2
In-process research and development

 

 
             4
 
         0.0
 
 
Interest (income) expense, net
         107

 
         0.6

 
         114
 
         0.6
 
 
Other (income) expense, net
       (931)

 
       (5.3)

 
         226
 
         1.1
 
 
Earnings before provision for taxes on income
      5,741

 
       32.3

 
      5,626
 
       28.9
 
2.0
Provision for taxes on income
      1,225

 
         6.9

 
      1,300
 
         6.7
 
(5.8)
Net earnings
 $ 4,516

 
       25.4

 
 $ 4,326
 
       22.2
 
4.4
 
 
 
 
 
 
 
 
 
 
Net earnings per share (Diluted)
 $ 1.61

 
 
 
 $ 1.51
 
 
 
6.6
 
 
 
 
 
 
 
 
 
 
Average shares outstanding (Diluted)
2,812.0

 
 
 
2,874.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
21.3

%
 
 
23.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings before provision for taxes and net earnings (1) (A)
 
 
 
 
 
Earnings before provision for taxes on income
 $ 6,248

 
35.1

 
 $ 6,524
 
33.5
 
(4.2)
Net earnings
 $ 4,812

 
27.1

 
 $ 5,133
 
26.3
 
(6.3)
Net earnings per share (Diluted)
 $ 1.71

 
 
 
 $ 1.78
 
 
 
(3.9)
Effective tax rate
23.0

%
 
 
21.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 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, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, 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)
SIX MONTHS
 
 
 
 
 
 
 
 
 
 
 
2015
 
2014
 
Percent
 
 
 
Percent
 
 
 
Percent
 
Increase
 
Amount
 
to Sales
 
Amount
 
to Sales
 
(Decrease)
Sales to customers
 $ 35,161

 
     100.0

 
 $ 37,610
 
     100.0
 
(6.5)
Cost of products sold
    10,639

 
       30.2

 
    11,494
 
       30.6
 
(7.4)
Selling, marketing and administrative expenses
    10,231

 
       29.1

 
    10,664
 
       28.3
 
(4.1)
Research and development expense
      4,028

 
       11.5

 
      3,836
 
       10.2
 
5.0
In-process research and development

 

 
           22
 
         0.1
 
 
Interest (income) expense, net
         226

 
         0.6

 
         232
 
         0.6
 
 
Other (income) expense, net
    (1,279)

 
       (3.6)

 
         312
 
         0.8
 
 
Earnings before provision for taxes on income
    11,316

 
       32.2

 
    11,050
 
       29.4
 
2.4
Provision for taxes on income
      2,480

 
         7.1

 
      1,997
 
         5.3
 
24.2
Net earnings
 $ 8,836

 
       25.1

 
 $ 9,053
 
       24.1
 
(2.4)
 
 
 
 
 
 
 
 
 
 
Net earnings per share (Diluted)
 $ 3.13

 
 
 
 $ 3.15
 
 
 
(0.6)
 
 
 
 
 
 
 
 
 
 
Average shares outstanding (Diluted)
2,821.0

 
 
 
2,875.5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effective tax rate
21.9

%
 
 
18.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted earnings before provision for taxes and net earnings (1) (A)
 
 
 
Earnings before provision for taxes on income
 $ 11,878

 
33.8

 
 $ 12,452
 
33.1
 
(4.6)
Net earnings
 $ 9,230

 
26.3

 
 $ 9,826
 
26.1
 
(6.1)
Net earnings per share (Diluted)
 $ 3.27

 
 
 
 $ 3.41
 
 
 
(4.1)
Effective tax rate
22.3

%
 
 
21.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 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, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, 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
 
 
 
 
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
SECOND QUARTER
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
segment of business
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
 
 
 
 
 
 
 
 
    U.S.
 $ 1,355
 
    1,320
 
     2.7
%
            2.7
 

    International
      2,128
 
    2,424
 
  (12.2)
 
            2.1
 
      (14.3)

 
      3,483
   
    3,744
 
    (7.0)
 
            2.3
 
        (9.3)

 
 
 
 
 
 
 
 
 
 
Pharmaceutical
 
 
 
 
 
 
 
 
 
    U.S.
      4,543
 
    4,613
 
    (1.5)
 
          (1.5)
 

    International
      3,403
 
    3,896
 
  (12.7)
 
            3.8
 
      (16.5)

 
      7,946
   
    8,509
 
    (6.6)
 
            1.0
 
        (7.6)

 
 
 
 
 
 
 
 
 
 
Medical Devices
 
 
 
 
 
 
 
 
 
    U.S.
      3,013
   
    3,199
 
    (5.8)
 
          (5.8)
 

    International
      3,345
 
    4,043
 
  (17.3)
 
          (3.9)
 
      (13.4)

 
      6,358
   
    7,242
 
(12.2)
 
          (4.7)
 
        (7.5)

 
 
 
 
 
 
 
 
 
 
U.S.
      8,911
 
    9,132
 
    (2.4)
 
          (2.4)
 

International
      8,876
 
  10,363
 
  (14.3)
 
            0.5
 
      (14.8)

Worldwide
 $ 17,787
 
  19,495
 
    (8.8)
%
          (0.9)
 
        (7.9)







Johnson & Johnson and Subsidiaries
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
SIX MONTHS
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
segment of business
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
 
 
 
 
 
 
 
 
    U.S.
 $ 2,714
 
    2,629
 
     3.2
%
            3.2
 

    International
      4,159
 
    4,672
 
  (11.0)
 
            2.6
 
      (13.6)

 
      6,873
   
    7,301
 
    (5.9)
 
            2.8
 
        (8.7)

 
 
 
 
 
 
 
 
 
 
Pharmaceutical
 
 
 
 
 
 
 
 
 
    U.S.
      8,914
 
    8,353
 
     6.7
 
            6.7
 

    International
      6,758
 
    7,654
 
  (11.7)
 
            3.8
 
      (15.5)

 
    15,672
   
  16,007
 
    (2.1)
 
            5.3
 
        (7.4)

 
 
 
 
 
 
 
 
 
 
Medical Devices
 
 
 
 
 
 
 
 
 
    U.S.
      5,975
   
    6,354
 
    (6.0)
 
          (6.0)
 

    International
      6,641
 
    7,948
 
  (16.4)
 
          (3.5)
 
      (12.9)

 
    12,616
   
  14,302
 
  (11.8)
 
          (4.6)
 
        (7.2)

 
 
 
 
 
 
 
 
 
 
U.S.
    17,603
 
  17,336
 
     1.5
 
            1.5
 

International
    17,558
 
  20,274
 
  (13.4)
 
            0.6
 
      (14.0)

Worldwide
 $ 35,161
 
  37,610
 
    (6.5)
%
            1.1
 
        (7.6)
















Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
SECOND QUARTER
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
geographic area
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S.
 $ 8,911
 
    9,132
 
    (2.4)
%
          (2.4)
 

 
 
 
 
 
 
 
 
 
 
Europe
      4,151
 
    5,056
 
  (17.9)
 
            1.0
 
      (18.9)

Western Hemisphere excluding U.S.
      1,501
 
    1,863
 
  (19.4)
 
          (4.0)
 
      (15.4)

Asia-Pacific, Africa
      3,224
 
    3,444
 
    (6.4)
 
            2.2
 
        (8.6)

International
      8,876
 
  10,363
 
  (14.3)
 
            0.5
 
      (14.8)

 
  
 
  
 
  
 
  
 
  
Worldwide
 $ 17,787
 
  19,495
 
    (8.8)
%
          (0.9)
 
        (7.9)








Johnson & Johnson and Subsidiaries
 
 
 
 
Supplementary Sales Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Unaudited; Dollars in Millions)
SIX MONTHS
 
 
 
 
 
Percent Change
 
2015
 
2014
 
Total
 
Operations
 
Currency
Sales to customers by
 
 
 
 
 
 
 
 
 
geographic area
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S.
 $ 17,603
 
  17,336
 
     1.5
%
            1.5
 

 
 
 
 
 
 
 
 
 
 
Europe
      8,191
 
    9,941
 
  (17.6)
 
            0.7
 
      (18.3)

Western Hemisphere excluding U.S.
      3,140
 
    3,558
 
  (11.7)
 
            2.6
 
      (14.3)

Asia-Pacific, Africa
      6,227
 
    6,775
 
    (8.1)
 
          (0.4)
 
        (7.7)

International
    17,558
 
  20,274
 
  (13.4)
 
            0.6
 
      (14.0)

 
  
 
  
 
  
 
  
 
  
Worldwide
 $ 35,161
 
  37,610
 
    (6.5)
%
            1.1
 
        (7.6)
















Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Second Quarter
 
% Incr. /
 
(Dollars in Millions Except Per Share Data)
2015
 
2014
 
(Decr.)
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as reported
 $ 5,741

 
  5,626

 
        2.0
%
 
 
 
 
 
 
 
Intangible asset amortization expense
       318

 
     474

 
 
 
 
 
 
 
 
 
 
Litigation expense/(gain), net
       134

 
     276

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
         49

 
     144

 
 
 
 
 
 
 
 
 
 
DePuy ASR™ Hip program
           9

 

 
 
 
 
 
 
 
 
 
 
In-process research and development

 
         4

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
         (3)

 

 
 
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as adjusted
 $ 6,248

 
  6,524

 
      (4.2)
 %
 
 
 
 
 
 
 
Net Earnings - as reported
 $ 4,516

 
  4,326

 
        4.4
%
 
 
 
 
 
 
 
Intangible asset amortization expense
       230

 
     358

 
 
 
 
 
 
 
 
 
 
Litigation expense/(gain), net
         23

   
     342

 (1)
 
 
 
 
 
 
 
 
 
Synthes integration costs
         37

 
     104

 
 
 
 
 
 
 
 
 
 
DePuy ASR™ Hip program
           8

 

 
 
 
 
 
 
 
 
 
 
In-process research and development

 
         3

 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
         (2)

 

 
 
 
 
 
 
 
 
 
 
Net Earnings - as adjusted
 $ 4,812

 
  5,133

 
      (6.3)
 %
 
 
 
 
 
 
 
Diluted Net Earnings per share - as reported
 $ 1.61

 
    1.51

 
        6.6
%
 
 
 
 
 
 
 
Intangible asset amortization expense
      0.08

 
    0.12

 
 
 
 
 
 
 
 
 
 
Litigation expense/(gain), net
      0.01

 
    0.12

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
      0.01

 
    0.03

 
 
 
 
 
 
 
 
 
 
DePuy ASR™ Hip program

 

 
 
 
 
 
 
 
 
 
 
In-process research and development

 

 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain

 

 
 
 
 
 
 
 
 
 
 
Diluted Net Earnings per share - as adjusted
 $ 1.71

 
    1.78

 
      (3.9)
 %
 
 
 
 
 
 
 
Operational Diluted Net Earnings per share - as adjusted*
 $ 1.90

 
    1.78

 
        6.7
 %
 
 
 
 
 
 
 
*Excludes the effect of translational currency
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction
 
 
 
 
 
 



Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months YTD
 
% Incr. /
 
(Dollars in Millions Except Per Share Data)
2015
 
2014
 
(Decr.)
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as reported
 $ 11,316

 
  11,050

 
        2.4
%
 
 
 
 
 
 
 
Intangible asset amortization expense
         630

 
       842

 
 
 
 
 
 
 
 
 
 
Litigation expense/(gain), net
       (268)

 
       276

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
           81

 
       262

 
 
 
 
 
 
 
 
 
 
DePuy ASR™ Hip program
         148

 

 
 
 
 
 
 
 
 
 
 
In-process research and development

 
         22

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
         (29)

 

 
 
 
 
 
 
 
 
 
 
Earnings before provision for taxes on income - as adjusted
 $ 11,878

 
  12,452

 
      (4.6)
 %
 
 
 
 
 
 
 
Net Earnings - as reported
 $ 8,836

 
    9,053

 
      (2.4)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
         456

 
       625

 
 
 
 
 
 
 
 
 
 
Litigation expense/(gain), net
       (230)

 
       342

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
           62

 
       188

 
 
 
 
 
 
 
 
 
 
DePuy ASR™ Hip program
         130

 

 
 
 
 
 
 
 
 
 
 
In-process research and development

 
         16

 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 
     (398)

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
         (24)

 

 
 
 
 
 
 
 
 
 
 
Net Earnings - as adjusted
 $ 9,230

 
    9,826

 
      (6.1)
 %
 
 
 
 
 
 
 
Diluted Net Earnings per share - as reported
 $ 3.13

 
      3.15

 
      (0.6)
%
 
 
 
 
 
 
 
Intangible asset amortization expense
        0.16

 
      0.21

 
 
 
 
 
 
 
 
 
 
Litigation expense/(gain), net
      (0.08)

 
      0.12

 
 
 
 
 
 
 
 
 
 
Synthes integration costs
        0.02

 
      0.06

 
 
 
 
 
 
 
 
 
 
DePuy ASR™ Hip program
        0.05

 

 
 
 
 
 
 
 
 
 
 
In-process research and development

 
      0.01

 
 
 
 
 
 
 
 
 
 
Tax benefit associated with Conor Medsystems

 
    (0.14)

 
 
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics divestiture net gain
      (0.01)

 

 
 
 
 
 
 
 
 
 
 
Diluted Net Earnings per share - as adjusted
 $ 3.27

 
      3.41

 
      (4.1)
 %
 
 
 
 
 
 
 
Operational Diluted Net Earnings per share - as adjusted*
 $ 3.59

 
      3.41

 
        5.3
 %
 
 
 
 
 
 
 
*Excludes the effect of translational currency
 
 
 
 
 
 








Johnson & Johnson and Subsidiaries
 
 
 
 
 
 
 
 
Reconciliation of Non-GAAP Financial Measure
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C (1) (A)
 SECOND QUARTER 2015 ACTUAL vs. 2014 ACTUAL
 
 
 
 
 
 
 
 
 
 
 Segments
 
 
 
 
 
 
 
 
 
 
 
 Consumer
 
 Pharmaceutical
 
 Medical Devices
 
 Total
 
 
Operational % (2)
 WW As Reported:
 
2.3%
 
1.0%
 
(4.7)%
 
(0.9)%
 U.S.
 
2.7%
 
(1.5)%
 
(5.8)%
 
(2.4)%
 International
 
2.1%
 
3.8%
 
(3.9)%
 
0.5%
 
 
 
 
 
 
 
 
 
Wound Care / Other
 
 
 
 
 
 
 
 
BENECOL ®
 
0.8
 
 
 
 
 
0.1
 U.S.
 
0.0
 
 
 
 
 
0.0
 International
 
1.1
 
 
 
 
 
0.2
 
 
 
 
 
 
 
 
 
Diagnostics
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics
 
 
 
 
 
6.1
 
2.3
 U.S.
 
 
 
 
 
7.4
 
2.5
 International
 
 
 
 
 
5.3
 
2.0
 
 
 
 
 
 
 
 
 
Other Neuroscience
 
 
 
 
 
 
 
 
NUCYNTA ®
 
 
 
0.5
 
 
 
0.2
 U.S.
 
 
 
0.9
 
 
 
0.5
 International
 
 
 
0.1
 
 
 
0.0
 
 
 
 
 
 
 
 
 
All Other Acquisitions and Divestitures
 
0.0
 
 
 
 
 
0.0
 U.S.
 
0.2
 
 
 
 
 
0.0
 International
 
0.0
 
 
 
 
 
0.0
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions and Divestitures
3.1%
 
1.5%
 
1.4%
 
1.7%
 U.S.
 
2.9%
 
(0.6)%
 
1.6%
 
0.6%
 International
 
3.2%
 
3.9%
 
1.4%
 
2.7%
 
 
 
 
 
 
 
 
 
 Hepatitis C
 
 
 
8.2
 
 
 
3.3
 U.S.
 
 
 
17.1
 
 
 
7.8
 International
 
 
 
(1.4)
 
 
 
(0.6)
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions, Divestitures and Hepatitis C
3.1%
 
9.7%
 
1.4%
 
5.0%
 U.S.
 
2.9%
 
16.5%
 
1.6%
 
8.4%
 International
 
3.2%
 
2.5%
 
1.4%
 
2.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Hepatitis C includes OLYSIO ® /SOVRIAD ® and INCIVO ®
 
 
 
 
(2) Operational growth excludes the effect of translational currency
 
 
 
 
 
 
 
 
 
 
 
(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C” 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 magnitude of hepatitis C product sales over a short timeframe and 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C (1) (A)
 SIX MONTHS 2015 ACTUAL vs. 2014 ACTUAL
 
 
 
 
 
 
 
 
 
 
 Segments
 
 
 
 
 
 
 
 
 
 
 
 Consumer
 
 Pharmaceutical
 
 Medical Devices
 
 Total
 
 
Operational % (2)
 WW As Reported:
 
2.8%
 
5.3%
 
(4.6)%
 
1.1%
 U.S.
 
3.2%
 
6.7%
 
(6.0)%
 
1.5%
 International
 
2.6%
 
3.8%
 
(3.5)%
 
0.6%
 
 
 
 
 
 
 
 
 
Women's Health
 
 
 
 
 
 
 
 
K-Y ®
 
0.5
 
 
 
 
 
0.1
 U.S.
 
0.8
 
 
 
 
 
0.1
 International
 
0.3
 
 
 
 
 
0.1
 
 
 
 
 
 
 
 
 
Wound Care / Other
 
 
 
 
 
 
 
 
BENECOL ®
 
0.7
 
 
 
 
 
0.1
 U.S.
 
0.0
 
 
 
 
 
0.0
 International
 
1.1
 
 
 
 
 
0.3
 
 
 
 
 
 
 
 
 
Diagnostics
 
 
 
 
 
 
 
 
Ortho-Clinical Diagnostics
 
 
 
 
 
6.0
 
2.3
 U.S.
 
 
 
 
 
7.3
 
2.8
 International
 
 
 
 
 
4.9
 
2.0
 
 
 
 
 
 
 
 
 
Other Neuroscience
 
 
 
 
 
 
 
 
NUCYNTA ®
 
 
 
0.3
 
 
 
0.1
 U.S.
 
 
 
0.6
 
 
 
0.2
 International
 
 
 
0.0
 
 
 
0.0
 
 
 
 
 
 
 
 
 
All Other Acquisitions and Divestitures
 
(0.1)
 
 
 
 
 
0.0
 U.S.
 
0.0
 
 
 
 
 
0.0
 International
 
(0.2)
 
 
 
 
 
(0.1)
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions and Divestitures
 
3.9%
 
5.6%
 
1.4%
 
3.7%
 U.S.
 
4.0%
 
7.3%
 
1.3%
 
4.6%
 International
 
3.8%
 
3.8%
 
1.4%
 
2.9%
 
 
 
 
 
 
 
 
 
 Hepatitis C
 
 
 
5.7
 
 
 
2.2
 U.S.
 
 
 
12.8
 
 
 
5.4
 International
 
 
 
(1.2)
 
 
 
(0.5)
 
 
 
 
 
 
 
 
 
WW Ops excluding Acquisitions, Divestitures and Hepatitis C
3.9%
 
11.3%
 
1.4%
 
5.9%
 U.S.
 
4.0%
 
20.1%
 
1.3%
 
10.0%
 International
 
3.8%
 
2.6%
 
1.4%
 
2.4%
 
 
 
 
 
 
 
 
 
(1) Hepatitis C includes OLYSIO ® /SOVRIAD ® and INCIVO ®
 
 
(2) Operational growth excludes the effect of translational currency
 
 
 
 
 
 
 
 
 
 
 
(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C” 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 magnitude of hepatitis C product sales over a short timeframe and 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)
 
 
 
SECOND QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

CONSUMER SEGMENT (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BABY CARE
 
 
 
 
 
 
 
 
 
US
 
$
104

 
107

 
(2.8
)%
(2.8
)%
 %
Intl
 
 
439

 
500

 
(12.2
)
(1.0
)
(11.2
)
WW
 
 
543

 
607

 
(10.5
)
(1.2
)
(9.3
)
 
 
 
 
 
 
 
 
 
 
ORAL CARE
 
 
 
 
 
 
 
 
 
US
 
 
147

 
142

 
3.5

3.5


Intl
 
 
244

 
271

 
(10.0
)
5.0

(15.0
)
WW
 
 
391

 
413

 
(5.3
)
4.5

(9.8
)
 
 
 
 
 
 
 
 
 
 
OTC
 
 
 
 
 
 
 
 
 
US
 
 
366

 
316

 
15.8

15.8


Intl
 
 
608

 
687

 
(11.5
)
4.7

(16.2
)
WW
 
 
974

 
1,003

 
(2.9
)
8.2

(11.1
)
 
 
 
 
 
 
 
 
 
 
SKIN CARE
 
 
 
 
 
 
 
 
 
US
 
 
491

 
506

 
(3.0
)
(3.0
)

Intl
 
 
403

 
462

 
(12.8
)
1.2

(14.0
)
WW
 
 
894

 
968

 
(7.6
)
(0.9
)
(6.7
)
 
 
 
 
 
 
 
 
 
 
WOMEN'S HEALTH
 
 
 
 
 
 
 
 
 
US
 
 
7

 
11

 
(36.4
)
(36.4
)

Intl
 
 
313

 
331

 
(5.4
)
11.4

(16.8
)
WW
 
 
320

 
342

 
(6.4
)
9.9

(16.3
)
 
 
 
 
 
 
 
 
 
 
WOUND CARE/OTHER
 
 
 
 
 
 
 
 
 
US
 
 
240

 
238

 
0.8

0.8


Intl
 
 
121

 
173

 
(30.1
)
(19.2
)
(10.9
)
WW
 
 
361

 
411

 
(12.2
)
(7.6
)
(4.6
)
 
 
 
 
 
 
 
 
 
 
TOTAL CONSUMER
 
 
 
 
 
 
 
 
 
US
 
 
1,355

 
1,320

 
2.7

2.7


Intl
 
 
2,128

 
2,424

 
(12.2
)
2.1

(14.3
)
WW
 
$
3,483

 
3,744

 
(7.0
)%
2.3
 %
(9.3
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 






Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SECOND QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IMMUNOLOGY
 
 
 
 
 
 
 
 
 
US
 
$
1,876

 
1,853

 
1.2
 %
1.2
 %
 %
Intl
 
 
678

 
778

 
(12.9
)
3.4

(16.3
)
WW
 
 
2,554

 
2,631

 
(2.9
)
1.9

(4.8
)
     REMICADE
 
 
 
 
 
 
 
 
 
     US
 
 
1,088

 
1,021
 
6.6

6.6


     US Exports (4)
 
 
241

 
357

 
(32.5
)
(32.5
)

     Intl
 
 
339

 
426

 
(20.4
)
(6.6
)
(13.8
)
     WW
 
 
1,668

 
1,804

 
(7.5
)
(4.2
)
(3.3
)
     SIMPONI / SIMPONI ARIA
 
 
 
 
 
 
 
 
 
     US
 
 
172

 
132

 
30.3

30.3


     Intl
 
 
136

 
150

 
(9.3
)
9.2

(18.5
)
     WW
 
 
308

 
282

 
9.2

19.1

(9.9
)
     STELARA
 
 
 
 
 
 
 
 
 
     US
 
 
375

 
343

 
9.3

9.3


     Intl
 
 
195

 
185

 
5.4

26.5

(21.1
)
     WW
 
 
570

 
528

 
8.0

15.4

(7.4
)
     OTHER IMMUNOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
8

 
17

 
(52.9
)
(44.7
)
(8.2
)
     WW
 
 
8

 
17

 
(52.9
)
(44.7
)
(8.2
)
 
 
 
 
 
 
 
 
 
 
INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
US
 
 
381

 
1020

 
(62.6
)
(62.6
)

Intl
 
 
651

 
742

 
(12.3
)
7.2

(19.5
)
WW
 
 
1,032

 
1,762

 
(41.4
)
(33.2
)
(8.2
)
     EDURANT
 
 
 
 
 
 
 
 
 
     US
 
 
9

 
6

 
50.0

50.0


     Intl
 
 
92

 
86

 
7.0

32.1

(25.1
)
     WW
 
 
101

 
92

 
9.8

33.2

(23.4
)
     OLYSIO / SOVRIAD
 
 
 
 
 
 
 
 
 
     US
 
 
50

 
725

 
(93.1
)
(93.1
)

     Intl
 
 
214

 
106

 
*

*

**

     WW
 
 
264

 
831

 
(68.2
)
(62.5
)
(5.7
)
     PREZISTA / PREZCOBIX
 
 
 
 
 
 
 
 
 
     US
 
 
258

 
239

 
7.9

7.9


     Intl
 
 
190

 
253

 
(24.9
)
(7.7
)
(17.2
)
     WW
 
 
448

 
492

 
(8.9
)
(0.1
)
(8.8
)
     OTHER INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
     US
 
 
64

 
50

 
28.0

28.0


     Intl
 
 
155

 
297

 
(47.8
)
(36.9
)
(10.9
)
     WW
 
 
219

 
347

 
(36.9
)
(27.5
)
(9.4
)
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 





Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SECOND QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEUROSCIENCE
 
 
 
 
 
 
 
 
 
US
 
$
693

 
600

 
15.5
 %
15.5
 %
 %
Intl
 
 
871

 
1,027

 
(15.2
)
(0.2
)
(15.0
)
WW
 
 
1,564

 
1,627

 
(3.9
)
5.6

(9.5
)
     CONCERTA / METHYLPHENIDATE
 
 
 
 
 
 
 
 
 
     US
 
 
102

 
28

 
*

*


     Intl
 
 
104

 
117

 
(11.1
)
2.7

(13.8
)
     WW
 
 
206

 
145

 
42.1

53.3

(11.2
)
     INVEGA
 
 
 
 
 
 
 
 
 
     US
 
 
105

 
89

 
18.0

18.0


     Intl
 
 
61

 
69

 
(11.6
)
3.7

(15.3
)
     WW
 
 
166

 
158

 
5.1

11.8

(6.7
)
     INVEGA SUSTENNA / XEPLION
 
 
 
 
 
 
 
 
 
     US
 
 
253

 
202

 
25.2

25.2


     Intl
 
 
183

 
192

 
(4.7
)
14.6

(19.3
)
     WW
 
 
436

 
394

 
10.7

20.1

(9.4
)
     RISPERDAL CONSTA
 
 
 
 
 
 
 
 
 
     US
 
 
99

 
110

 
(10.0
)
(10.0
)

     Intl
 
 
148

 
192

 
(22.9
)
(6.5
)
(16.4
)
     WW
 
 
247

 
302

 
(18.2
)
(7.8
)
(10.4
)
     OTHER NEUROSCIENCE
 
 
 
 
 
 
 
 
 
     US
 
 
134

 
171

 
(21.6
)
(21.6
)

     Intl
 
 
375

 
457

 
(17.9
)
(5.1
)
(12.8
)
     WW
 
 
509

 
628

 
(18.9
)
(9.6
)
(9.3
)
 
 
 
 
 
 
 
 
 
 
ONCOLOGY
 
 
 
 
 
 
 
 
 
US
 
 
362

 
278

 
30.2

30.2


Intl
 
 
782

 
833

 
(6.1
)
12.8

(18.9
)
WW
 
 
1,144

 
1,111

 
3.0

17.2

(14.2
)
     IMBRUVICA
 
 
 
 
 
 
 
 
 
     US
 
 
89

 
33

 
*

*


     Intl
 
 
65

 
9

 
*

*

**

     WW
 
 
154

 
42

 
*

*

**

     VELCADE
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
344

 
403

 
(14.6
)
1.1

(15.7
)
     WW
 
 
344

 
403

 
(14.6
)
1.1

(15.7
)
     ZYTIGA
 
 
 
 
 
 
 
 
 
     US
 
 
255

 
235

 
8.5

8.5


     Intl
 
 
291

 
327

 
(11.0
)
8.6

(19.6
)
     WW
 
 
546

 
562

 
(2.8
)
8.6

(11.4
)
     OTHER ONCOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 
18

 
10

 
80.0

80.0


     Intl
 
 
82

 
94

 
(12.8
)
5.3

(18.1
)
     WW
 
 
100

 
104

 
(3.8
)
12.5

(16.3
)
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 




Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SECOND QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR / METABOLISM / OTHER(5)
 
 
 
 
 
 
US
 
$
1,231

 
862

 
42.8
 %
42.8
 %
 %
Intl
 
 
421

 
516

 
(18.4
)
(6.6
)
(11.8
)
WW
 
 
1,652

 
1,378

 
19.9

24.3

(4.4
)
     XARELTO
 
 
 
 
 
 
 
 
 
     US
 
 
472

 
361

 
30.7

30.7


     Intl
 
 

 

 



     WW
 
 
472

 
361

 
30.7

30.7


     INVOKANA / INVOKAMET
 
 
 
 
 
 
 
 
 
     US
 
 
302

 
114

 
*

*


     Intl
 
 
16

 
3

 
*

*

**

     WW
 
 
318

 
117

 
*

*

**

     PROCRIT / EPREX
 
 
 
 
 
 
 
 
 
     US
 
 
179

 
178

 
0.6

0.6


     Intl
 
 
97

 
141

 
(31.2
)
(18.7
)
(12.5
)
     WW
 
 
276

 
319

 
(13.5
)
(8.0
)
(5.5
)
     OTHER
 
 
 
 
 
 
 
 
 
     US
 
 
278

 
209

 
33.0

33.0


     Intl
 
 
308

 
372

 
(17.2
)
(6.3
)
(10.9
)
     WW
 
 
586

 
581

 
0.9

7.9

(7.0
)
 
 
 
 
 
 
 
 
 
 
TOTAL PHARMACEUTICAL
 
 
 
 
 
 
 
 
 
US
 
 
4,543

 
4,613

 
(1.5
)
(1.5
)

Intl
 
 
3,403

 
3,896

 
(12.7
)
3.8

(16.5
)
WW
 
$
7,946

 
8,509

 
(6.6
)%
1.0
 %
(7.6
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 





Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SECOND QUARTER
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

MEDICAL DEVICES (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR CARE
 
 
 
 
 
 
US
 
$
235

 
214

 
9.8
 %
9.8
 %
 %
Intl
 
 
309

 
353

 
(12.5
)
1.7

(14.2
)
WW
 
 
544

 
567

 
(4.1
)
4.7

(8.8
)
 
 
 
 
 
 
 
 
 
 
DIABETES CARE
 
 
 
 
 
 
 
 
 
US
 
 
214

 
222

 
(3.6
)
(3.6
)

Intl
 
 
280

 
336

 
(16.7
)
(1.2
)
(15.5
)
WW
 
 
494

 
558

 
(11.5
)
(2.1
)
(9.4
)
 
 
 
 
 
 
 
 
 
 
DIAGNOSTICS(6)
 
 
 
 
 
 
 
 
 
US
 
 

 
232

 
**

**


Intl
 
 
16

 
229

 
(93.0
)
(90.1
)
(2.9
)
WW
 
 
16

 
461

 
(96.5
)
(95.0
)
(1.5
)
 
 
 
 
 
 
 
 
 
 
ORTHOPAEDICS
 
 
 
 
 
 
 
 
 
US
 
 
1,321

 
1,294

 
2.1

2.1


Intl
 
 
1,009

 
1,175

 
(14.1
)
(0.4
)
(13.7
)
WW
 
 
2,330

 
2,469

 
(5.6
)
0.9

(6.5
)
 
 
 
 
 
 
 
 
 
 
SPECIALTY SURGERY / OTHER
 
 
 
 
US
 
 
438

 
424

 
3.3

3.3


Intl
 
 
441

 
481

 
(8.3
)
5.6

(13.9
)
WW
 
 
879

 
905

 
(2.9
)
4.5

(7.4
)
 
 
 
 
 
 
 
 
 
 
SURGICAL CARE
 
 
 
 
US
 
 
562

 
551

 
2.0

2.0


Intl
 
 
887

 
1,024

 
(13.4
)
0.0

(13.4
)
WW
 
 
1,449

 
1,575

 
(8.0
)
0.7

(8.7
)
 
 
 
 
 
 
 
 
 
 
VISION CARE
 
 
 
 
 
 
 
 
 
US
 
 
243

 
262

 
(7.3
)
(7.3
)

Intl
 
 
403

 
445

 
(9.4
)
6.0

(15.4
)
WW
 
 
646

 
707

 
(8.6
)
1.1

(9.7
)
 
 
 
 
 
 
 
 
 
 
TOTAL MEDICAL DEVICES
 
 
US
 
 
3,013

 
3,199

 
(5.8
)
(5.8
)

Intl
 
 
3,345

 
4,043

 
(17.3
)
(3.9
)
(13.4
)
WW
 
$
6,358

 
7,242

 
(12.2
)%
(4.7
)%
(7.5
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SIX MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

CONSUMER SEGMENT (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BABY CARE
 
 
 
 
 
 
 
 
 
US
 
$
215

 
209

 
2.9
 %
2.9
 %
 %
Intl
 
 
839

 
943

 
(11.0
)
(0.9
)
(10.1
)
WW
 
 
1,054

 
1,152

 
(8.5
)
(0.2
)
(8.3
)
 
 
 
 
 
 
 
 
 
 
ORAL CARE
 
 
 
 
 
 
 
 
 
US
 
 
305

 
302

 
1.0

1.0


Intl
 
 
489

 
522

 
(6.3
)
6.9

(13.2
)
WW
 
 
794

 
824

 
(3.6
)
4.7

(8.3
)
 
 
 
 
 
 
 
 
 
 
OTC
 
 
 
 
 
 
 
 
 
US
 
 
771

 
682

 
13.0

13.0


Intl
 
 
1,196

 
1,332

 
(10.2
)
6.8

(17.0
)
WW
 
 
1,967

 
2,014

 
(2.3
)
9.0

(11.3
)
 
 
 
 
 
 
 
 
 
 
SKIN CARE
 
 
 
 
 
 
 
 
 
US
 
 
983

 
963

 
2.1

2.1


Intl
 
 
814

 
919

 
(11.4
)
1.4

(12.8
)
WW
 
 
1,797

 
1,882

 
(4.5
)
1.8

(6.3
)
 
 
 
 
 
 
 
 
 
 
WOMEN'S HEALTH
 
 
 
 
 
 
 
 
 
US
 
 
13

 
35

 
(62.9
)
(62.9
)

Intl
 
 
594

 
634

 
(6.3
)
8.6

(14.9
)
WW
 
 
607

 
669

 
(9.3
)
4.8

(14.1
)
 
 
 
 
 
 
 
 
 
 
WOUND CARE/OTHER
 
 
 
 
 
 
 
 
 
US
 
 
427

 
438

 
(2.5
)
(2.5
)

Intl
 
 
227

 
322

 
(29.5
)
(19.4
)
(10.1
)
WW
 
 
654

 
760

 
(13.9
)
(9.6
)
(4.3
)
 
 
 
 
 
 
 
 
 
 
TOTAL CONSUMER
 
 
 
 
 
 
 
 
 
US
 
 
2,714

 
2,629

 
3.2

3.2


Intl
 
 
4,159

 
4,672

 
(11.0
)
2.6

(13.6
)
WW
 
$
6,873

 
7,301

 
(5.9
)%
2.8
 %
(8.7
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SIX MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
IMMUNOLOGY
 
 
 
 
 
 
 
 
 
US
 
$
3,631

 
3,400

 
6.8
 %
6.8
 %
 %
Intl
 
 
1,386

 
1,574

 
(11.9
)
3.4

(15.3
)
WW
 
 
5,017

 
4,974

 
0.9

5.7

(4.8
)
     REMICADE
 
 
 
 
 
 
 
 
 
     US
 
 
2,143

 
2,018

 
6.2

6.2


     US Exports (4)
 
 
422

 
524

 
(19.5
)
(19.5
)

     Intl
 
 
703

 
872

 
(19.4
)
(6.4
)
(13.0
)
     WW
 
 
3,268

 
3,414

 
(4.3
)
(1.0
)
(3.3
)
     SIMPONI / SIMPONI ARIA
 
 
 
 
 
 
 
 
 
     US
 
 
327

 
236

 
38.6

38.6


     Intl
 
 
281

 
305

 
(7.9
)
9.5

(17.4
)
     WW
 
 
608

 
541

 
12.4

22.2

(9.8
)
     STELARA
 
 
 
 
 
 
 
 
 
     US
 
 
739

 
622

 
18.8

18.8


     Intl
 
 
380

 
362

 
5.0

24.6

(19.6
)
     WW
 
 
1,119

 
984

 
13.7

20.9

(7.2
)
     OTHER IMMUNOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
22

 
35

 
(37.1
)
(28.7
)
(8.4
)
     WW
 
 
22

 
35

 
(37.1
)
(28.7
)
(8.4
)
 
 
 
 
 
 
 
 
 
 
INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
US
 
 
793

 
1,581

 
(49.8
)
(49.8
)

Intl
 
 
1,214

 
1,381

 
(12.1
)
5.9

(18.0
)
WW
 
 
2,007

 
2,962

 
(32.2
)
(23.8
)
(8.4
)
     EDURANT
 
 
 
 
 
 
 
 
 
     US
 
 
18

 
11

 
63.6

63.6


     Intl
 
 
174

 
162

 
7.4

31.4

(24.0
)
     WW
 
 
192

 
173

 
11.0

33.4

(22.4
)
     OLYSIO / SOVRIAD
 
 
 
 
 
 
 
 
 
     US
 
 
148

 
1,016

 
(85.4
)
(85.4
)

     Intl
 
 
350

 
169

 
*

*

**

     WW
 
 
498

 
1,185

 
(58.0
)
(51.7
)
(6.3
)
     PREZISTA / PREZCOBIX
 
 
 
 
 
 
 
 
 
     US
 
 
492

 
453

 
8.6

8.6


     Intl
 
 
383

 
484

 
(20.9
)
(4.8
)
(16.1
)
     WW
 
 
875

 
937

 
(6.6
)
1.7

(8.3
)
     OTHER INFECTIOUS DISEASES
 
 
 
 
 
 
 
 
 
     US
 
 
135

 
101

 
33.7

33.7


     Intl
 
 
307

 
566

 
(45.8
)
(35.8
)
(10.0
)
     WW
 
 
442

 
667

 
(33.7
)
(25.2
)
(8.5
)
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SIX MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NEUROSCIENCE
 
 
 
 
 
 
 
 
 
US
 
$
1,443

 
1,201

 
20.1
 %
20.1
 %
 %
Intl
 
 
1,739

 
2,064

 
(15.7
)
(1.7
)
(14.0
)
WW
 
 
3,182

 
3,265

 
(2.5
)
6.4

(8.9
)
     CONCERTA / METHYLPHENIDATE
 
 
 
 
 
 
 
 
 
     US
 
 
228

 
63

 
*

*


     Intl
 
 
202

 
232

 
(12.9
)
(0.3
)
(12.6
)
     WW
 
 
430

 
295

 
45.8

55.7

(9.9
)
     INVEGA
 
 
 
 
 
 
 
 
 
     US
 
 
199

 
175

 
13.7

13.7


     Intl
 
 
122

 
148

 
(17.6
)
(2.9
)
(14.7
)
     WW
 
 
321

 
323

 
(0.6
)
6.1

(6.7
)
     INVEGA SUSTENNA / XEPLION
 
 
 
 
 
 
 
 
 
     US
 
 
481

 
384

 
25.3

25.3


     Intl
 
 
366

 
383

 
(4.4
)
13.6

(18.0
)
     WW
 
 
847

 
767

 
10.4

19.4

(9.0
)
     RISPERDAL CONSTA
 
 
 
 
 
 
 
 
 
     US
 
 
203

 
216

 
(6.0
)
(6.0
)

     Intl
 
 
298

 
396

 
(24.7
)
(9.8
)
(14.9
)
     WW
 
 
501

 
612

 
(18.1
)
(8.5
)
(9.6
)
     OTHER NEUROSCIENCE
 
 
 
 
 
 
 
 
 
     US
 
 
332

 
363

 
(8.5
)
(8.5
)

     Intl
 
 
751

 
905

 
(17.0
)
(4.8
)
(12.2
)
     WW
 
 
1,083

 
1,268

 
(14.6
)
(5.9
)
(8.7
)
 
 
 
 
 
 
 
 
 
 
ONCOLOGY
 
 
 
 
 
 
 
 
 
US
 
 
696

 
518

 
34.4

34.4


Intl
 
 
1,556

 
1,615

 
(3.7
)
14.1

(17.8
)
WW
 
 
2,252

 
2,133

 
5.6

19.1

(13.5
)
     IMBRUVICA
 
 
 
 
 
 
 
 
 
     US
 
 
155

 
39

 
*

*


     Intl
 
 
115

 
13

 
*

*

**

     WW
 
 
270

 
52

 
*

*

**

     VELCADE
 
 
 
 
 
 
 
 
 
     US
 
 

 

 



     Intl
 
 
683

 
811

 
(15.8
)
(1.5
)
(14.3
)
     WW
 
 
683

 
811

 
(15.8
)
(1.5
)
(14.3
)
     ZYTIGA
 
 
 
 
 
 
 
 
 
     US
 
 
508

 
464

 
9.5

9.5


     Intl
 
 
594

 
610

 
(2.6
)
16.8

(19.4
)
     WW
 
 
1,102

 
1,074

 
2.6

13.6

(11.0
)
     OTHER ONCOLOGY
 
 
 
 
 
 
 
 
 
     US
 
 
33

 
15

 
*

*


     Intl
 
 
164

 
181

 
(9.4
)
7.6

(17.0
)
     WW
 
 
197

 
196

 
0.5

16.1

(15.6
)
See footnotes at end of schedule
 
 
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SIX MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency
PHARMACEUTICAL SEGMENT  (2) (3) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR / METABOLISM / OTHER(5)
 
 
 
 
 
 
US
 
$
2,351

 
1,653

 
42.2
 %
42.2
 %
 %
Intl
 
 
863

 
1,020

 
(15.4
)
(3.7
)
(11.7
)
WW
 
 
3,214

 
2,673

 
20.2

24.6

(4.4
)
     XARELTO
 
 
 
 
 
 
 
 
 
     US
 
 
913

 
680

 
34.3

34.3


     Intl
 
 

 

 



     WW
 
 
913

 
680

 
34.3

34.3


     INVOKANA / INVOKAMET
 
 
 
 
 
 
 
 
 
     US
 
 
568

 
207

 
*

*


     Intl
 
 
28

 
4

 
*

*

**

     WW
 
 
596

 
211

 
*

*

**

     PROCRIT / EPREX
 
 
 
 
 
 
 
 
 
     US
 
 
342

 
354

 
(3.4
)
(3.4
)

     Intl
 
 
203

 
275

 
(26.2
)
(13.3
)
(12.9
)
     WW
 
 
545

 
629

 
(13.4
)
(7.7
)
(5.7
)
     OTHER
 
 
 
 
 
 
 
 
 
     US
 
 
528

 
412

 
28.2

28.2


     Intl
 
 
632

 
741

 
(14.7
)
(4.0
)
(10.7
)
     WW
 
 
1,160

 
1,153

 
0.6

7.5

(6.9
)
 
 
 
 
 
 
 
 
 
 
TOTAL PHARMACEUTICAL
 
 
 
 
 
 
 
 
 
US
 
 
8,914

 
8,353

 
6.7

6.7


Intl
 
 
6,758

 
7,654

 
(11.7
)
3.8

(15.5
)
WW
 
$
15,672

 
16,007

 
(2.1
)%
5.3
 %
(7.4
)%
 
 
 
 
 
 
 
 
 
 
See footnotes at end of schedule
 
 
 
 
 
 
 



Johnson & Johnson
Segment Sales
(Dollars in Millions)
 
 
 
SIX MONTHS
 
 
 
 
 
 
 
% Change
 
 
 
2015
 
2014
 
Reported
Operational (1)
Currency

MEDICAL DEVICES (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
CARDIOVASCULAR CARE
 
 
 
 
 
 
US
 
$
463

 
419

 
10.5
 %
10.5
 %
 %
Intl
 
 
610

 
689

 
(11.5
)
2.5

(14.0
)
WW
 
 
1,073

 
1,108

 
(3.2
)
5.5

(8.7
)
 
 
 
 
 
 
 
 
 
 
DIABETES CARE
 
 
 
 
 
 
 
 
 
US
 
 
426

 
414

 
2.9

2.9

Intl
 
 
552

 
656

 
(15.9
)
(0.3
)
(15.6
)
WW
 
 
978

 
1,070

 
(8.6
)
0.9

(9.5
)
 
 
 
 
 
 
 
 
 
 
DIAGNOSTICS(6)
 
 
 
 
 
 
 
 
 
US
 
 

 
456

 
**

**


Intl
 
 
46

 
448

 
(89.7
)
(86.8
)
(2.9
)
WW
 
 
46

 
904

 
(94.9
)
(93.5
)
(1.4
)
 
 
 
 
 
 
 
 
 
 
ORTHOPAEDICS
 
 
 
 
 
 
 
 
 
US
 
 
2,630

 
2,586

 
1.7

1.7


Intl
 
 
2,028

 
2,304

 
(12.0
)
1.2

(13.2
)
WW
 
 
4,658

 
4,890

 
(4.7
)
1.5

(6.2
)
 
 
 
 
 
 
 
 
 
 
SPECIALTY SURGERY / OTHER
 
 
 
 
US
 
 
855

 
841

 
1.7

1.7


Intl
 
 
857

 
938

 
(8.6
)
4.6

(13.2
)
WW
 
 
1,712

 
1,779

 
(3.8
)
3.2

(7.0
)
 
 
 
 
 
 
 
 
 
 
SURGICAL CARE
 
 
 
 
US
 
 
1,105

 
1,090

 
1.4

1.4


Intl
 
 
1,767

 
1,993

 
(11.3
)
1.5

(12.8
)
WW
 
 
2,872

 
3,083

 
(6.8
)
1.5

(8.3
)
 
 
 
 
 
 
 
 
 
 
VISION CARE
 
 
 
 
 
 
 
 
 
US
 
 
496

 
548

 
(9.5
)
(9.5
)

Intl
 
 
781

 
920

 
(15.1
)
(1.0
)
(14.1
)
WW
 
 
1,277

 
1,468

 
(13.0
)
(4.1
)
(8.9
)
 
 
 
 
 
 
 
 
 
 
TOTAL MEDICAL DEVICES
 
 
US
 
 
5,975

 
6,354

 
(6.0
)
(6.0
)

Intl
 
 
6,641

 
7,948

 
(16.4
)
(3.5
)
(12.9
)
WW
 
$
12,616

 
14,302

 
(11.8
)%
(4.6
)%
(7.2
)%
 
 
 
 
 
 
 
 
 
 
* Percentage greater than 100%
 
 
 
 
 
 
 
 
 
** Not meaningful
 
 
 
 
 
 
 
 
 
(1) Operational growth excludes the effect of translational currency
(2) Unaudited
 
 
 
 
 
 
 
 
 
(3) Prior year amounts have been reclassified to conform to current year product disclosure
(4) Reported as U.S. sales
 
 
 
 
 
 
 
 
 
(5) Previously referred to as Other
 
 
 
 
 
 
 
 
 
(6) Reflects Diagnostics divestiture June 30, 2014




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