2012 Historical

Financial
Review

Historical Financial Review

he Historical Financial Review is

prepared once per year and is
available on line at www.investor.jnj.com.
It is intended to supplement the Annual
Report and other SEC filings and be used
primarily by financial analysts to assist in a
detailed financial analysis. While this
document does include abbreviated
financial statements, it is not a substitute

for the more detailed financial statements

(including footnotes) found in the Annual
Report and other SEC filings.
We appreciate your comments and
suggestions on ways to improve this
document and will attempt to incorporate
them into future editions.

Index
Introduction
Five Year Selected Financial Data
Description of Major Business Franchises
Balance Sheets, Statements of Earnings, Statements of Cash Flows
Segments of Business Information
Geographical Areas
Sales Growth Rates
Quarterly Sales and Earnings Information
Sales and Net Earnings 1887-2012
Stock Split and Share Repurchase Information
Common Stock Information 1944-2012
Reconciliation of Non-GAAP Measures
Corporate and Shareholder/Investor Information

Page
1
2
3
4-6
7-8
9
10
11-14
15
16
17-18
19
20

Johnson & Johnson and Subsidiaries:

Five-Year Selected Financial Data 2008-2012
(Dollars in Millions Except Per Share Figures)

2012

Operating Results
Sales to customers
Earnings before provision for taxes on income
Net earnings attributable to J&J (2)
Basic net earnings per share
Diluted net earnings per share

$
$

(1)

2011

67,224
13,775
10,853
3.94
3.86

(1)

2010

(1)

2009 (1)

2008 (1)

65,030
12,361
9,672
3.54
3.49

61,587
16,947
13,334
4.85
4.78

61,897
15,755
12,266
4.45
4.40

63,747
16,929
12,949
4.62
4.57

19.0
14.9
21.8
17.0
8.5

27.5
21.7
21.3
24.9
13.0

25.4
19.8
22.1
26.4
13.0

26.5
20.3
23.5
30.2
15.2

Statistics
Before tax margin
Net profit margin (2)
Effective tax rate
Return on average shareholders' equity
Return on total assets

20.5
16.1
23.7
17.8
8.9

Capital Structure
Cash and Current Marketable Securities
Debt
Equity
Total capital
Net cash/(debt)

21,089

32,261

27,658

19,425

12,809

16,165
64,826
80,991
4,924

19,627
57,080
76,707
12,634

16,773
56,579
73,352
10,885

14,541
50,588
65,129
4,884

11,852
42,511
54,363
957

25.6

22.9

22.3

21.8

2.400
23.33
69.48
2,753.3
2,812.6
6,614

2.250
20.95
65.58
2,736.0
2,775.3
6,156

2.110
20.66
61.85
2,751.4
2,788.8
5,804

1.930
18.37
64.41
2,759.5
2,789.1
5,327

1.795
15.35
58.56
2,802.5
2,835.6
5,024

121,347
7,665
2,934
127.6

113,644
7,548
2,893
117.9

102,908
6,844
2,384
114.0

94,682
6,986
2,365
115.5

84,912
7,577
3,066
118.7

Total debt/total capital

20.0

Common Stock Information

Dividends paid per share
Shareholders' equity per share
Market price per share (year end close)
Average shares outstanding (mm) - basic
- diluted
Cash dividends

$
$
$

Other Data
Total assets
Research & development expense
Capital expenditures
Number of employees (thousands)

$
$

(1) For Adjusted earnings (before and after tax) and adjusted earnings per share, see Reconciliation of Non-GAAP Measures on Page 19.
(2) After noncontrolling interests

Description of Major Business Franchises

Consumer Segment
The Consumer segment includes a broad range of
products used in the baby care, skin care, oral care,
wound care and women's health care fields, as well as
nutritional and over-the-counter pharmaceutical
products and wellness and prevention platforms.
These products are marketed to the general public and
sold both to retail outlets and distributors throughout
the world.
The Baby Care franchise includes the JOHNSONS
Baby line of products. Major brands in the Skin Care
franchise include the AVEENO; CLEAN & CLEAR;
JOHNSONS Adult; NEUTROGENA; RoC;
TM
LUBRIDERM; DABAO ; and VENDME product
lines. The Oral Care franchise includes the
LISTERINE and REMBRANDT oral care lines. The
Wound Care franchise includes BAND-AID brand
adhesive bandages and NEOSPORIN First Aid
products. Major brands in the Womens Health
franchise are CAREFREE Pantiliners; o.b. tampons
and STAYFREE sanitary protection products. The
principal nutritional line is SPLENDA No Calorie
Sweetener. Over-the-counter medicines include the
broad family of TYLENOL acetaminophen products;
SUDAFED cold, flu and allergy products; ZYRTEC
allergy products; MOTRIN IB ibuprofen products; and
PEPCID AC Acid Controller.

Medical Devices and Diagnostics Segment

The Medical Devices & Diagnostics segment includes a
broad range of products used principally in the
professional fields by physicians, nurses, hospitals, and
clinics. These include products to treat cardiovascular
disease; orthopaedic and neurological products; blood
glucose monitoring and insulin delivery products;
general surgery, biosurgical, and energy products;
professional diagnostic products; infection prevention
products; and disposable contact lenses. These
products are distributed to wholesalers, hospitals and
retailers both directly and through surgical supply and
other distributors.

Pharmaceutical Segment
The Pharmaceutical segment includes products in the
following therapeutic areas: anti-infective, antipsychotic,
contraceptive, gastrointestinal, hematology, immunology,
infectious diseases, neurology, oncology, pain
management, thrombosis and vaccines. These products
are distributed directly to retailers, wholesalers and
health care professionals for prescription use.
Key products in the Pharmaceutical segment include:
REMICADE (infliximab), a biologic approved for the
treatment of a number of immune- mediated
inflammatory diseases; STELARA (ustekinumab) for the
treatment of moderate to severe plaque psoriasis;
SIMPONI (golimumab), a treatment for adults with
moderate to severe rheumatoid arthritis, psoriatic arthritis
and ankylosing spondylitis; VELCADE (bortezomib), a
treatment for multiple myeloma; ZYTIGA (abiraterone
acetate), a treatment for metastatic castration-resistant
prostate cancer; PREZISTA (darunavir), INTELENCE
(etravine) and EDURANT (rilpivirine), treatments for
HIV/AIDS; INCIVO (telaprevir), for the treatment of
hepatitis C; NUCYNTA ER (tapentadol) extended
release tablets, a treatment for moderate to severe
chronic pain and neuropathic pain associated with
diabetic peripheral neuropathy in adults; INVEGA
SUSTENNA (paliperidone palmitate), for the acute and
maintenance treatment of schizophrenia in adults;
RISPERDAL CONSTA (risperidone), a treatment for
the management of Bipolar I Disorder and schizophrenia;
INVEGA (paliperidone) extended-release tablets for the
treatment of schizophrenia and schizoaffective disorder;
XARELTO (rivaroxaban), an oral anticoagulant for the
prevention of thrombosis following total hip or knee
replacement surgery, for the prevention of stroke in
patients with atrial fibrillation, for the treatment of
pulmonary embolism (PE) or deep vein thrombosis (DVT)
or to reduce the risk of recurrence of DVT or PE following
an initial six months of treatment for acute venous
thromboembolism; PROCRIT (Epoetin alfa, sold
outside the U.S. as EPREX), to stimulate red blood cell
production; LEVAQUIN (levofloxacin) a treatment for
bacterial infections; CONCERTA (methylphenidate HCl)
extended-release tablets CII, a treatment for attention
deficit hyperactivity disorder; ACIPHEX /PARIET, a
proton pump inhibitor co-marketed with Eisai Inc.; and
DURAGESIC / (fentanyl transdermal system) CII, (sold
outside the U.S. as DUROGESIC), a treatment for
chronic pain that offers a novel delivery system.

Johnson & Johnson and Subsidiaries:

Consolidated Balance Sheets
(Dollars in Millions)

Assets
Current assets
Cash and cash equivalents
Marketable securities
Accounts receivable trade, less allowance for doubtful accounts
Inventories
Other current assets
Total current assets

2012
$

Liabilities and Shareholders' Equity

Current liabilities
Loans and notes payable
Accounts payable
Accrued liabilities
Accrued taxes on income
Total current liabilities

2010

14,911
6,178
11,309
7,495
6,223
46,116

24,542
7,719
10,581
6,285
5,189
54,316

19,355
8,303
9,774
5,378
4,497
47,307

16,097
51,176
7,958

14,739
34,276
10,313

14,553
32,010
9,038

121,347

113,644

102,908

4,676
5,831
12,691
1,064
24,262

6,658
5,725
9,574
854
22,811

7,617
5,623
9,254
578
23,072

11,489
20,770
56,521

12,969
20,784
56,564

9,156
14,101
46,329

3,120
(5,810)
85,992
83,302

3,120
(5,632)
81,251
78,739

3,120
(3,531)
77,773
77,362

18,476

21,659

20,783

Property, plant and equipment, net

Intangible assets and Goodwill, net
Other non-current assets
Total assets

2011

Long-term debt
Other long-term liabilities
Total liabilities
Shareholders' equity
Common stock
Accumulated other comprehensive income
Retained earnings

Less: common stock held in treasury, at cost

Total shareholders' equity

64,826

57,080

56,579

Total liabilities and shareholders' equity

121,347

113,644

102,908

Johnson & Johnson and Subsidiaries:

Consolidated Statements of Earnings
(Dollars in Millions Except Per Share Figures)

2012 (1)

Sales to customers

67,224

2011 (1)

65,030

2010 (1)

61,587

2009 (1)

61,897

2008 (1)

63,747

Cost of products sold

Gross profit

21,658
45,566

20,360
44,670

18,792
42,795

18,447
43,450

18,511
45,236

Selling, marketing and administrative expenses

Research and development expense
In-process research and development
Interest income
Interest expense, net of portion capitalized
Other (income) expense, net
Restructuring

20,869
7,665
1,163
(64)
532
1,626
-

20,969
7,548
(91)
571
2,743
569

19,424
6,844
(107)
455
(768)
-

19,801
6,986
(90)
451
(526)
1,073

21,490
7,577
181
(361)
435
(1,015)
-

Earnings before provision for taxes on income

Provision for taxes on income

13,775
3,261

12,361
2,689

16,947
3,613

15,755
3,489

16,929
3,980

Net earnings
Add: Net loss attributable to noncontrolling interests
Net earnings attributable to Johnson & Johnson

10,514
339
10,853

9,672
9,672

13,334
13,334

12,266
12,266

12,949
12,949

Basic net earnings per share attributable to J&J

Diluted net earnings per share attributable to J&J

Ratios to Sales
Sales to customers
Cost of products sold
Gross profit
Selling, marketing & administrative expense
Research expense
Earnings before provision for taxes on income
Provision for taxes on income
Net earnings attributable to Johnson & Johnson

$
$

3.94
3.86

100.0%
32.2
67.8
31.0
11.4
20.5
4.9
16.1

$
$

3.54
3.49

100.0%
31.3
68.7
32.3
11.6
19.0
4.1
14.9

$
$

4.85
4.78

100.0%
30.5
69.5
31.5
11.1
27.5
5.8
21.7

$
$

4.45
4.40

100.0%
29.8
70.2
32.0
11.3
25.4
5.6
19.8

$
$

4.62
4.57

100.0%
29.1
70.9
33.7
11.9
26.5
6.2
20.3

(1) For Adjusted earnings (before and after tax) and adjusted earnings per share, see Reconciliation of Non-GAAP Measures on Page 19.

Johnson & Johnson and Subsidiaries:

Consolidated Statements of Cash Flows

(Dollars in Millions)

2012

Cash flows from operations

Net earnings
Adjustments to reconcile net earnings to cash flows:
Depreciation and amortization of property and intangibles
Stock Based Compensation
Noncontrolling interest
Asset write-downs and impairments
Deferred tax provision
Accounts receivable allowances
Changes in assets and liabilities, net of effects from acquisitions:
(Increase)/Decrease in accounts receivable
(Increase)/Decrease in inventories
Increase/(Decrease) in accounts payable and accrued liabilities
(Increase)/Decrease in other current and non-current assets
(Decrease)/ Increase in other current and non-current liabilities
Net cash flows from operating activities

13,334

3,666
662
339
2,131
(39)
92

3,158
621
160
(836)
32

2,939
614
356
12

(9)
(1)
2,768
(2,172)
(2,555)
15,396

(915)
(715)
493
(1,785)
4,413
14,298

(207)
(196)
20
(574)
87
16,385

Cash flows from investing activities

Additions to property, plant and equipment
Proceeds from the disposal of assets
Acquisitions, net of cash acquired
Purchases of investments
Sales of investments
Other
Net cash used by investing activities

(2,934)
1,509
(4,486)
(13,434)
14,797
38
(4,510)

(2,893)
1,342
(2,797)
(29,882)
30,396
(778)
(4,612)

(2,384)
524
(1,269)
(15,788)
11,101
(38)
(7,854)

Cash flows from financing activities

Dividends to shareholders
Repurchase of common stock
Proceeds from short-term debt
Retirement of short-term debt
Proceeds from long-term debt
Retirement of long-term debt
Proceeds from the exercise of stock options/excess tax benefits
Other
Net cash used by financing activities

(6,614)
(12,919)
3,268
(6,175)
45
(804)
2,720
(83)
(20,562)

(6,156)
(2,525)
9,729
(11,200)
4,470
(16)
1,246
(4,452)

(5,804)
(2,797)
7,874
(6,565)
1,118
(32)
1,226
(4,980)

Effect of exchange rate changes on cash and cash equivalents

(Decrease)/Increase in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year

45
(9,631)
24,542
14,911

(47)
5,187
19,355
24,542

(6)
3,545
15,810
19,355

616
2,507

576
2,970

491
2,442

13,335

433
1

673
1

19,025
(1,204)
17,821
13,335

3,025
(228)
2,797
-

1,321
(52)
1,269
-

4,486

2,797

1,269

Supplemental schedule of noncash investing and financing activities

Issuance of common stock associated with the acquisition of Synthes, Inc.
Treasury stock issued for employee compensation and stock option plans,
net of cash proceeds
Conversion of debt
Acquisition of businesses
Fair value of assets acquired
Fair value of liabilities assumed and noncontrolling interests
Net fair value of acquisitions
Less: Issuance of common stock associated with the acquisition of Synthes, Inc.
Net cash paid for acquisitions

10,514

2010

9,672

Supplemental cash flow data

Cash paid during the year for:
Interest
Income taxes

2011

615
-

$
$

(1)

(1) Includes repurchase of common stock associated with the acquisition of Synthes, Inc.

Johnson & Johnson and Subsidiaries:

Segments of Business
Sales to Customers
Consumer
United States
International
Total
Pharmaceutical
United States
International
Total
Medical Devices and Diagnostics
United States
International
Total
Worldwide
United States
International
Total

Pre-Tax Profit
Consumer
Pharmaceutical
Medical Devices and Diagnostics
Segments Total
Less: Expenses/(Income) not allocated to segments (6)
Worldwide Total

(Dollars in Millions)

2012
$

Pre-Tax Profit as % of Segment Sales

Consumer
Pharmaceutical
Medical Devices and Diagnostics
Segments Total
Worldwide Total
Identifiable Assets
Consumer
Pharmaceutical
Medical Devices and Diagnostics
Segments Total
General corporate (7)
Worldwide Total

(1)

(2)

2010

(3)

2009

(4)

2008

(5)

5,046
9,401
14,447

5,151
9,732
14,883

5,519
9,071
14,590

6,837
8,966
15,803

6,937
9,117
16,054

12,421
12,930
25,351

12,386
11,982
24,368

12,519
9,877
22,396

13,041
9,479
22,520

14,831
9,736
24,567

12,363
15,063
27,426

11,371
14,408
25,779

11,412
13,189
24,601

11,011
12,563
23,574

10,541
12,585
23,126

29,830
37,394
67,224

28,908
36,122
65,030

29,450
32,137
61,587

30,889
31,008
61,897

32,309
31,438
63,747

1,693
6,075
7,187
14,955
1,180
13,775

2,096
6,406
5,263
13,765
1,404
12,361

2,342
7,086
8,272
17,700
753
16,947

2,475
6,413
7,694
16,582
827
15,755

2,674
7,605
7,223
17,502
573
16,929

11.7%
24.0%
26.2%
22.2%
20.5%

2011

24,131
23,219
42,926
90,276
31,071
121,347

14.1%
26.3%
20.4%
21.2%
19.0%

24,210
23,747
23,609
71,566
42,078
113,644

16.1%
31.6%
33.6%
28.7%
27.5%

23,753
19,961
23,277
66,991
35,917
102,908

15.7%
28.5%
32.6%
26.8%
25.4%

24,671
21,460
22,853
68,984
25,698
94,682

16.7%
31.0%
31.2%
27.4%
26.5%

23,765
19,544
20,779
64,088
20,824
84,912

(1) 2012 pre-tax profit includes $1,218 million of net litigation expense, which includes product liability, comprised of $658 million and $560 million in the
Pharmaceutical and Medical Devices and Diagnostics segments, respectively. Includes $1,163 million of in-process research and development expense, comprised
of $1,111 million and $52 million in the Pharmaceutical and Medical Devices and Diagnostics segments, respectively. Includes $795 million of Synthes
integration/transaction costs in the Medical Devices and Diagnostics segment. Includes $909 million of asset write-downs and other adjustments, comprised of $499
million, $264 million and $146 million in the Pharmaceutical, Consumer and Medical Devices and Diagnostics segments, respectively. The Medical Devices and
Diagnostics segment also includes $110 million expense for the cost associated with the DePuy ASR Hip program.
(2) 2011 pre-tax profit includes $3,310 million of net litigation expense, which includes product liability, comprised of $1,741 million and $1,569 million in the
Pharmaceutical and Medical Devices and Diagnostics segments, respectively. Includes $656 million of net restructuring expense, comprised of $676 million
expense in the Medical Devices and Diagnostics segment and a gain of $20 million in the Pharmaceutical segment. The Medical Devices and Diagnostics segment
also includes $521 million expense for the cost associated with the DePuy ASR Hip program.
(3) 2010 pre-tax profit includes $397 million of net litigation gain, which includes product liability expense, comprised of $447 million expense in the Pharmaceutical
segment and a gain of $844 million in the Medical Devices and Diagnostics segment. The Medical Devices and Diagnostics segment also includes $280 million
expense for the cost associated with the DePuy ASR Hip program.
(4) 2009 pre-tax profit includes $1,186 million of restructuring expense, comprised of $369 million, $496 million, and $321 million for the Consumer, Pharmaceutical,
and Medical Devices and Diagnostics segments, respectively. Includes $386 million of fourth quarter net litigation gain, comprised of a $92 million expense in the
Pharmaceutical segment and a gain of $478 million in the Medical Devices and Diagnostics segment.
(5) 2008 pre-tax profit includes $7 million and $174 million of In Process Research and Development ( IPR&D) for the Consumer and Medical Devices and
Diagnostics segment, respectively. Includes $379 million of fourth quarter net litigation gain, comprised of $50 million expense in the Consumer segment and a
gain of $429 million in the Medical Devices and Diagnostics segment.
(6) Amounts not allocated to segments include interest (income) expense, noncontrolling interests and general corporate (income) expense. Includes expense of
$0.2 billion and $0.5 billion of currency related expense related to the acquisition of Synthes, Inc. in 2012 and 2011, respectively.
(7) General corporate includes cash & marketable securities.

Johnson & Johnson and Subsidiaries:

Segments of Business
Additions to Property, Plant and Equipment
Consumer
Pharmaceutical
Medical Devices and Diagnostics
Segments Total
General corporate
Worldwide Total

(Dollars in Millions)

2012

2011

2010

2009

2008

468
737
1,230
2,435
499
2,934

670
729
1,095
2,494
399
2,893

526
508
1,113
2,147
237
2,384

439
535
1,114
2,088
277
2,365

499
920
1,251
2,670
396
3,066

575
1,010
1,857
3,442
224
3,666

631
958
1,331
2,920
238
3,158

532
912
1,270
2,714
225
2,939

513
922
1,124
2,559
215
2,774

489
986
1,146
2,621
211
2,832

622
5,362
1,681
7,665

659
5,138
1,751
7,548

609
4,432
1,803
6,844

632
4,591
1,763
6,986

624
5,095
1,858
7,577

Research Expense as a Percent of Segment Sales

Consumer segment
Pharmaceutical segment
Med Devices and Diagnostics segments
Worldwide total

4.3%
21.2%
6.1%
11.4%

4.4%
21.1%
6.8%
11.6%

4.2%
19.8%
7.3%
11.1%

4.0%
20.4%
7.5%
11.3%

3.9%
20.7%
8.0%
11.9%

Pharmaceutical Research Expense as a Percent of

total J&J WW Sales

8.0%

7.9%

7.2%

7.4%

8.0%

Depreciation & Amortization

Consumer
Pharmaceutical
Medical Devices and Diagnostics
Segments Total
General corporate
Worldwide Total

Research Expense and Development

Consumer segment
Pharmaceutical segment
Med Devices and Diagnostics segments
Worldwide total

Johnson & Johnson and Subsidiaries:

Geographical Areas
Sales to Customers
United States
Europe
Western Hemisphere excluding U.S.
Asia-Pacific, Africa
Total

Long-Lived Assets
United States
Europe
Western Hemisphere excluding U.S.
Asia-Pacific, Africa

(Dollars in Millions)

2012
29,830
16,945
7,207
13,242

2011
28,908
17,129
6,418
12,575

2010
29,450
15,510
5,550
11,077

2009
30,889
15,934
5,156
9,918

2008
32,309
16,782
5,173
9,483

67,224

65,030

61,587

61,897

63,747

35,115
25,261
3,636
2,362

23,529
19,056
3,517
2,163

23,315
16,791
3,653
2,089

22,399
17,347
3,540
1,868

21,674
14,375
3,328
1,898

66,374

48,265

45,848

45,154

41,275

899

750

715

790

785

Segments total
General corporate
Other non long-lived assets
Worldwide total

54,074

64,629

56,345

48,738

42,852

121,347

113,644

102,908

94,682

84,912

Johnson & Johnson and Subsidiaries:

Sales Growth Rates
2012

2011

2010

2009

2008

United States
Operations

3.2%
3.2%

-1.8%
-1.8%

-4.7%
-4.7%

-4.4%
-4.4%

-0.4%
-0.4%

International
Operations
Currency

3.5%
8.4%
-4.9%

12.4%
7.0%
5.4%

3.6%
1.9%
1.7%

-1.4%
3.9%
-5.3%

9.7%
4.6%
5.1%

Worldwide
Operations
Currency

3.4%
6.1%
-2.7%

5.6%
2.8%
2.8%

-0.5%
-1.3%
0.8%

-2.9%
-0.3%
-2.6%

4.3%
1.9%
2.4%

United States
-1.7%
2.9%

International
5.5%
10.4%

Worldwide
1.9%
6.4%

Compound Growth Rates

2007-2012 (5 Yr.)
2002-2012 (10 Yr.)

10

Johnson & Johnson and Subsidiaries:

Quarterly Sales by Segment

Year

U.S.

Consumer
Int'l

(Dollars in Millions)

WW

U.S.

Pharmaceutical
Int'l

WW

1Q 2008 $
2Q 2008
3Q 2008
4Q 2008
2008

1,819
1,694
1,769
1,655
6,937

2,245
2,342
2,330
2,200
9,117

4,064
4,036
4,099
3,855
16,054

4,070
3,793
3,538
3,430
14,831

2,359
2,547
2,575
2,255
9,736

6,429
6,340
6,113
5,685
24,567

1Q 2009
2Q 2009
3Q 2009
4Q 2009
2009

1,726
1,708
1,691
1,712
6,837

1,985
2,146
2,298
2,537
8,966

3,711
3,854
3,989
4,249
15,803

3,674
3,172
2,857
3,338
13,041

2,106
2,326
2,392
2,655
9,479

5,780
5,498
5,249
5,993
22,520

1Q 2010
2Q 2010
3Q 2010
4Q 2010
2010

1,560
1,463
1,277
1,219
5,519

2,206
2,184
2,290
2,391
9,071

3,766
3,647
3,567
3,610
14,590

3,206
3,110
3,054
3,149
12,519

2,432
2,443
2,441
2,561
9,877

5,638
5,553
5,495
5,710
22,396

1Q 2011
2Q 2011
3Q 2011
4Q 2011
2011

1,345
1,339
1,219
1,248
5,151

2,337
2,454
2,521
2,420
9,732

3,682
3,793
3,740
3,668
14,883

3,391
3,239
2,869
2,887
12,386

2,668
2,994
3,113
3,207
11,982

6,059
6,233
5,982
6,094
24,368

1Q 2012
2Q 2012
3Q 2012
4Q 2012
2012

1,316
1,313
1,214
1,203
5,046

2,279
2,306
2,367
2,449
9,401

3,595
3,619
3,581
3,652
14,447

3,026
3,094
3,288
3,013
12,421

3,107
3,197
3,114
3,512
12,930

6,133
6,291
6,402
6,525
25,351

11

Johnson & Johnson and Subsidiaries:

Quarterly Sales by Segment

Year

(Dollars in Millions)

Medical Devices and Diagnostics

U.S.
Int'l
WW

U.S.

Total
Int'l

WW

1Q 2008 $
2Q 2008
3Q 2008
4Q 2008
2008

2,588
2,723
2,648
2,582
10,541

3,113
3,351
3,061
3,060
12,585

5,701
6,074
5,709
5,642
23,126

8,477
8,210
7,955
7,667
32,309

7,717
8,240
7,966
7,515
31,438

16,194
16,450
15,921
15,182
63,747

1Q 2009
2Q 2009
3Q 2009
4Q 2009
2009

2,652
2,776
2,766
2,817
11,011

2,883
3,111
3,077
3,492
12,563

5,535
5,887
5,843
6,309
23,574

8,052
7,656
7,314
7,867
30,889

6,974
7,583
7,767
8,684
31,008

15,026
15,239
15,081
16,551
61,897

1Q 2010
2Q 2010
3Q 2010
4Q 2010
2010

2,886
2,865
2,800
2,861
11,412

3,341
3,265
3,120
3,463
13,189

6,227
6,130
5,920
6,324
24,601

7,652
7,438
7,131
7,229
29,450

7,979
7,892
7,851
8,415
32,137

15,631
15,330
14,982
15,644
61,587

1Q 2011
2Q 2011
3Q 2011
4Q 2011
2011

2,872
2,869
2,780
2,850
11,371

3,560
3,702
3,503
3,643
14,408

6,432
6,571
6,283
6,493
25,779

7,608
7,447
6,868
6,985
28,908

8,565
9,150
9,137
9,270
36,122

16,173
16,597
16,005
16,255
65,030

1Q 2012
2Q 2012
3Q 2012
4Q 2012
2012

2,877
2,953
3,289
3,244
12,363

3,534
3,612
3,780
4,137
15,063

6,411
6,565
7,069
7,381
27,426

7,219
7,360
7,791
7,460
29,830

8,920
9,115
9,261
10,098
37,394

16,139
16,475
17,052
17,558
67,224

12

Johnson & Johnson and Subsidiaries:

(1)
Quarterly Statement of Earnings

Year

1Q 2012 $
2Q 2012
3Q 2012
4Q 2012
2012 $

Sales

16,139
16,475
17,052
17,558
67,224

(Dollars in Millions except per share figures)

Cost of
Products Sold

4,915
5,143
5,597
6,003
21,658

SM&A

5,015
4,965
5,228
5,661
20,869

R&D

1,645
1,766
1,923
2,331
7,665

In-process
Research and
Development

429
679
55
1,163

Net Interest
Exp. (Inc.)

Other Exp.
(Inc.)

130
129
120
89
468

(611)
2,008
(90)
319
1,626

Quarterly Statement of Earnings - as a % of Sales

Year

1Q 2012
2Q 2012
3Q 2012
4Q 2012
2012

Sales

100.0%
100.0%
100.0%
100.0%
100.0%

Cost of
Products Sold Gross Margin

30.4%
31.2%
32.8%
34.2%
32.2%

69.6%
68.8%
67.2%
65.8%
67.8%

SM&A

R&D

In-process
Research and
Development

31.1%
30.1%
30.6%
32.2%
31.0%

10.2%
10.7%
11.3%
13.3%
11.4%

0.0%
2.6%
4.0%
0.3%
1.7%

Net Interest
Exp. (Inc.)

0.8%
0.8%
0.7%
0.5%
0.7%

(1) Net Earnings are GAAP and therefore, do not exclude special items.
Refer to Page 19, Reconciliation of Non-GAAP Measures, for an analysis of 2008-2012 Full Year Adjusted Earnings

13

Johnson & Johnson and Subsidiaries:

Quarterly Statement of Earnings (Continued)

Year

Total Cost &

Expense

1Q 2012 $
2Q 2012
3Q 2012
4Q 2012
2012 $

11,094
14,440
13,457
14,458
53,449

(1)

(Dollars in Millions except per share figures)

Earnings
Before Taxes

Provision for
Taxes on
Income

Net Earnings
Basic
attributable to Earnings per
Net Earnings
J&J
Share

5,045
2,035
3,595
3,100
13,775

1,135
627
966
533
3,261

3,910
1,408
2,629
2,567
10,514

3,910
1,408
2,968
2,567
10,853

1.43
0.51
1.08
0.93
3.94

Basic
Average
Shares

2,736.9
2,747.4
2,757.4
2,771.2
2,753.3

Diluted
Earnings per
Share

Diluted
Average
Shares

1.41
0.50
1.05
0.91
3.86

2,774.9
2,798.2
2,818.1
2,833.4
2,812.6

Quarterly Statement of Earnings - as a % of Sales

Year

1Q 2012
2Q 2012
3Q 2012
4Q 2012
2012

Other Exp.
(Inc.)

Total Cost &

Expense

Earnings
Before Taxes

-3.8%
12.2%
-0.5%
1.8%
2.5%

68.7%
87.6%
78.9%
82.3%
79.5%

31.3%
12.4%
21.1%
17.7%
20.5%

Provision for
Net Earnings
Taxes on
attributable
Income Taxes
Income
(Eff. Rate)
Net Earnings
to J&J

7.1%
3.9%
5.7%
3.1%
4.9%

22.5%
30.8%
26.9%
17.2%
23.7%

24.2%
8.5%
15.4%
14.6%
15.6%

24.2%
8.5%
17.4%
14.6%
16.1%

(1) Net Earnings are GAAP and therefore, do not exclude special items.
Refer to Page 19, Reconciliation of Non-GAAP Measures, for an analysis of 2008-2012 Full Year Adjusted Earnings

14

Johnson & Johnson and Subsidiaries:

Sales and Net Earnings (2) 1887 - 2012

Year

1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

Net Trade
Sales

$ 0.1
0.2
0.3
0.4
0.4
0.5
0.5
0.6
0.6
0.7
0.7
0.9
1.1
1.3
1.4
1.6
1.8
2.0
2.4
2.7
3.0
2.9
3.2
3.9
4.4
4.6
4.8
5.0
5.1
6.2
9.6
13.7
11.2
15.2
12.5
13.7
15.5
16.0
16.2
16.5
16.8
18.4
19.9
18.7

Net
Earnings

$ 0.19
0.13
0.20
0.23
0.23
0.27
0.28
0.36
0.33
0.53
0.77
0.54
0.63
0.67
0.54
1.05
0.75
0.63
0.74
1.11
1.22
1.37
0.83
0.50
1.30
1.90
1.80
1.80
2.10
2.00
1.50
0.80
1.60
1.20

(1)

Year

1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975

(Dollars in Millions)

Net Trade
Sales

Net
Earnings

17.4
15.2
17.1
20.7
24.7
28.9
32.3
33.4
35.1
39.1
56.6
78.2
93.1
93.6
96.0
112.6
152.3
165.6
168.3
195.5
227.6
232.2
236.1
243.5
267.5
293.6
315.6
321.2
368.4
384.4
414.5
447.6
462.4
503.3
576.0
660.6
712.3
801.3
901.9
1,002.0
1,140.5
1,317.7
1,611.8
1,937.2
2,224.7

1.3
1.1
0.9
1.0
1.3
2.1
1.7
2.7
3.7
2.4
3.2
2.8
3.1
3.1
3.1
8.3
9.9
12.1
10.0
15.7
12.3
8.8
11.2
12.2
14.0
15.6
16.9
15.1
19.7
20.2
17.7
19.9
21.5
26.8
34.4
40.1
45.9
57.6
69.4
83.7
101.8
120.7
148.4
161.6
183.8

Year

1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

Net Trade
Sales (1)

Net Earnings

2,522.5
2,914.1
3,497.3
4,211.6
4,837.4
5,399.0
5,760.9
5,972.9
6,124.5
6,421.3
7,003.0
8,011.5
8,999.5
9,829.0
11,365.0
12,210.0
13,600.0
13,877.0
15,454.0
18,537.0
21,387.0
22,522.0
23,811.0
27,357.0
29,172.0
32,317.0
36,298.0
41,862.0
47,348.0
50,514.0
53,324.0
61,095.0
63,747.0
61,897.0
61,587.0
65,030.0
$ 67,224.0

205.4
247.3
299.1
352.1
400.7
467.6
473.0
489.0
514.5
613.7
330.0
833.0
974.0
1,082.0
1,080.0
1,270.0
977.0
1,786.0
1,961.0
2,416.0
2,942.0
3,070.0
3,024.0
4,133.0
4,764.0
5,405.0
6,277.0
6,848.0
8,180.0
10,060.0
11,053.0
10,576.0
12,949.0
12,266.0
13,334.0
9,672.0
$ 10,853.0

(1) Sales restated for EITF change for 1991-2001 only. Net Earnings restated for FAS 123R Share Based Payment for 1996-2005.
(2) Net Earnings attributable to Johnson & Johnson.
Note: 1887-1989 information not restated and may include estimates.
Note: Net Earnings are reported according to GAAP and therefore do not exclude special items.
Refer to Page 19, Reconciliation of Non-GAAP Measures, for an analysis of 2008-2012 Adjusted Earnings.

15

Johnson & Johnson and Subsidiaries:

Stock Split and Share Repurchase Information

(Dollars in Millions)

Stock Splits
Pay Out Date

Action

May 5, 1947

100% Stock Dividend

November 15, 1948

5% Stock Dividend

November 15, 1949

5% Stock Dividend

March 20, 1951

5% Stock Dividend

January 9, 1959

2 1/2 for 1 Split

June 19, 1967

200% Stock Dividend

May 15, 1970

3 for 1 Split

May 18, 1981

3 for 1 Split

May 10, 1989

2 for 1 Split

June 9, 1992

2 for 1 Split

June 11, 1996

2 for 1 Split

June 12, 2001

2 for 1 Split

Share Repurchase Program*

Total Shares

Total Value

Avg. Price

Year

(Millions)

(Dollars in Millions)

Per Share

1984

160.0

$329

$2.0550

1986

160.0

670

4.1865

1988

97.8

500

5.1230

1992

42.4

500

11.7975

1993

49.6

500

10.0625

2002

83.6

5,000

59.7994

2006

81.8

5,000

61.1247

55.8

3,600

64.5870

2008

69.1

4,500

65.1230

2009

15.5

800

51.6129

2010

17.9

$1,100

$61.4525

2007

(1)

(1) On July 9, 2007, the Company announced that its Board of Directors approved a stock repurchase program, authorizing the
Company to buy back up to $10.0 billion of the Company's Common Stock. As of January 2, 2011, the current stock repurchase
program was completed. The Company repurchased an aggregate of 158.3 million shares of Johnson & Johnson Common Stock at
a cost of $10.0 billion.
* Total value may be rounded. In addition, the Company repurchases shares annually for use in employee stock option and
employee incentive plans. In 1990, the Company repurchased 12.8 million shares for a total value of $100 million in connection
with the establishment of an ESOP. All shares and average price per share have been adjusted for stock split.

16

Johnson & Johnson and Subsidiaries:

Common Stock Information 1944-2012
YEARLY
HIGH

YEAR

(Price per share/Shares in Millions)

YEARLY
LOW

YEARLY
AVERAGE

9/25/44 (open)

1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995

YEAR-END
PRICE
$

0.02
0.03
0.03
0.03
0.03
0.05
0.07
0.08
0.07
0.06
0.07
0.08
0.08
0.09
0.14
0.17
0.18
0.26
0.26
0.29
0.28
0.40
0.47
0.67
0.75
1.26
1.25
2.08
2.77
2.76
2.49
2.08
2.01
1.63
1.86
1.68
2.11
2.46
3.20
3.22
2.68
3.45
4.64
6.59
5.51
7.44
9.27
14.53
14.67
12.60
14.13
23.10

0.01
0.02
0.02
0.02
0.03
0.03
0.04
0.06
0.05
0.05
0.06
0.06
0.06
0.07
0.08
0.11
0.13
0.17
0.14
0.17
0.22
0.26
0.32
0.38
0.52
0.70
0.89
1.18
1.96
2.11
1.52
1.51
1.49
1.30
1.37
1.35
1.38
1.77
2.03
2.44
1.75
2.20
2.86
3.44
4.35
5.19
6.39
8.17
10.75
8.91
9.00
13.41

0.02
0.02
0.02
0.03
0.03
0.03
0.05
0.07
0.06
0.06
0.06
0.07
0.07
0.08
0.11
0.16
0.16
0.22
0.22
0.24
0.25
0.35
0.41
0.50
0.63
0.99
1.06
1.74
2.50
2.47
1.97
1.85
1.84
1.46
1.61
1.52
1.67
2.06
2.55
2.86
2.16
2.78
3.97
5.28
5.06
6.25
7.85
11.19
12.34
10.50
11.54
17.19

0.02
0.01
0.02
0.03
0.02
0.03
0.05
0.07
0.06
0.06
0.06
0.07
0.07
0.07
0.08
0.12
0.14
0.17
0.24
0.17
0.24
0.26
0.40
0.40
0.64
0.74
1.25
1.19
2.05
2.72
2.35
1.69
1.87
1.63
1.60
1.54
1.65
2.08
2.32
3.10
2.55
2.26
3.29
4.10
4.68
5.32
7.42
8.97
14.31
12.63
11.22
13.69
21.38

YEARLY
DIVIDEND

$ 0.00008
0.00012
0.00012
0.00020
0.00067
0.00115
0.00176
0.00102
0.00093
0.00152
0.00152
0.00152
0.00152
0.00167
0.00157
0.00185
0.00231
0.00231
0.00231
0.00255
0.00278
0.00336
0.00382
0.00428
0.00451
0.00590
0.00708
0.00896
0.00932
0.01094
0.01510
0.01771
0.02188
0.02917
0.03542
0.04167
0.04646
0.05313
0.06625
0.06750
0.07375
0.08000
0.08625
0.10063
0.12000
0.14000
0.16375
0.19250
0.22250
0.25250
0.28250
0.32000

NET SHARES
OUTSTANDING*

2,213.6
2,213.6
2,242.7
2,264.0
2,276.0
2,243.1
2,247.9
2,260.2
2,264.1
2,259.8
2,268.4
2,274.9
2,270.4
2,276.6
2,288.0
2,290.3
2,558.8
2,563.5
2,586.3
2,584.8
2,591.9
2,574.6
2,603.0
2,588.2
2,606.1
2,619.4
2,656.4
2,676.3
2,690.8
2,708.1
2,761.1
2,773.6
2,785.7
2,796.1
2,808.3
2,872.9
2,938.2
2,966.6
2,993.0
3,026.0
3,061.3
2,925.5
2,925.6
2,765.6
2,753.5
2,664.6
2,679.4
2,700.4
2,713.4
2,674.2
2,627.8
2,645.0
2,665.6

P/E
RATIO

10
19
7
6
6
12
12
18
15
15
17
15
12
14
22
23
28
31
24
29
27
32
28
33
34
41
43
54
59
41
28
30
22
16
14
12
15
15
16
14
14
15
43
17
16
19
21
30
23
17
19
25

17

Johnson & Johnson and Subsidiaries:

Common Stock Information 1944-2012

YEAR

1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

YEARLY
HIGH

27.00
33.66
44.88
53.44
52.97
60.97
65.89
59.08
64.25
64.60
69.41
68.75
72.76
65.41
66.20
68.05
72.74

YEARLY
LOW

20.78
24.32
31.69
38.50
33.07
40.25
41.40
48.05
49.25
59.76
56.70
59.72
52.06
46.25
56.86
57.50
61.71

(Price per share/Shares in Millions)

YEARLY
AVERAGE

24.29
29.82
37.46
46.99
44.64
51.88
57.67
52.62
55.84
64.70
62.21
63.98
64.91
56.88
62.16
63.56
66.95

YEAR-END
PRICE

24.88
32.97
41.94
46.63
52.53
59.86
53.11
50.62
63.42
60.10
66.02
67.38
58.56
64.41
61.85
65.58
69.48

YEARLY
DIVIDEND

0.36750
0.42500
0.48500
0.54500
0.62000
0.70000
0.79500
0.92500
1.09500
1.27500
1.45500
1.62000
1.79500
1.93000
2.11000
2.25000
2.40000

NET SHARES
OUTSTANDING*

2,753.4
2,971.6
2,975.3
2,979.6
3,014.6
3,047.2
2,968.3
2,967.9
2,971.0
2,971.0
2,893.2
2,840.2
2,769.2
2,754.3
2,738.1
2,724.4
2,778.5

P/E
RATIO

25
32
41
34
33
34
25
22
23
18
18
18
13
15
13
19
18

Note: All data adjusted for prior stock splits; shares outstanding are actual J&J year-end close; year -end share price per
Yahoo Finance at J&J year-end close; P/E ratio based on fiscal year-end closing price.
* Net shares outstanding = shares issued less treasury stock at Johnson & Johnson year-end close.

18

Johnson & Johnson and Subsidiaries:

Reconciliation of Non-GAAP Measures

(Dollars in Millions except per share amounts)

2012
$ 13,775
1,229
909
-

2011
12,361
3,310
656

110
1,028

521
491

280
-

1,163
$ 18,214

14
17,353

Net Earnings - as reported

Net Litigation loss (gain)
Intangible asset write-downs and other adjustments
Restructuring expense
DePuy ASRTM Hip program
Synthes integration/transaction costs and currency related
In-process research & development (IPR&D)(1)
(3)
Net Earnings - as adjusted

$ 10,853
1,052
701
97
899
743
$ 14,345

Diluted net earnings per share(3) - as reported

Net Litigation loss (gain)
Intangible asset write-downs and other adjustments
Restructuring expense
DePuy ASRTM Hip program
Synthes integration/transaction costs and currency related
In-process research & development (IPR&D)(1)
Diluted net earnings per share(3) - as adjusted

Earnings before provision for taxes on income- as reported

Net litigation loss (gain)
Intangible asset write-downs and other adjustments
Restructuring expense
DePuy ASRTM Hip program
Synthes integration/transaction costs and currency related
In-process research & development (IPR&D)(1)
Earnings before provision for taxes on income- as adjusted
(3)

3.86
0.37
0.25
0.03
0.32
0.27
5.10

(2)

2010
16,947
(397)
-

2009
15,755
(386)
1,186

2008
16,929
(379)
-

16,830

16,555

181
16,731

9,672
2,745
536
426
477
11
13,867

13,334
(294)
239
13,279

12,266
(212)
852
12,906

12,949
(229)
181
12,901

3.49
0.99
0.19
0.16
0.17
5.00

4.78
(0.11)
0.09
4.76

4.40
(0.08)
0.31
4.63

4.57
(0.08)
0.06
4.55

(1) In 2009, in accordance with U.S. GAAP for business combinations, purchased in-process research and development is
no longer expensed, but capitalized and tested for impairment.
(2) Amount includes third quarter in-process research and development charge of $679M related to bapineuzumab IV offset by $339M reported as net loss attributable to
noncontrolling interest
(3) Attributable to Johnson & Johnson
The Company believes investors gain additional perspective of underlying business trends and results by providing a measure of earnings before provision for taxes on
income, net earnings and diluted net earnings per share that excludes special items in order to evaluate ongoing business operations. These non-GAAP financial
measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures.

19

Corporate and Shareholder/Investor Information

Principal Office
One Johnson & Johnson Plaza
New Brunswick, New Jersey 08933
(732) 524-0400
Common Stock
Listed on New York Stock Exchange
Stock Symbol: JNJ

Investor Relations Department

One Johnson & Johnson Plaza
New Brunswick, New Jersey 08933
1-800-950-5089
Fax: (732) 524-3867
Louise Mehrotra
Vice President, Investor Relations

(732) 524-6492

Annual Meeting
The Annual Meeting of Shareholders will take
place on Thursday, April 25, 2013, at the
Hyatt Regency Hotel, Two Albany Street, New
Brunswick, New Jersey. The meeting will
convene at 10 a.m. All shareholders as of the
record date of February 26, 2013 are cordially
invited to attend. A formal Notice of Annual
Meeting, Proxy Statement and Proxy have
been sent to shareholders.

Stan Panasewicz
Senior Director, Investor Relations

(732) 524-2524
Lesley Fishman
Senior Director, Investor Relations

(732) 524-3922
Ellen Sipos
Senior Director, Investor Relations

Transfer Agent and Registrar

Questions regarding stock holdings, certificate
replacement/transfer, dividends and address
changes should be directed to:
Computershare Trust Company, N.A.
250 Royall St.
Canton, MA 02021
(800) 328-9033 or
(781) 575-2718 (outside the U.S.)
www.computershare.com

(732) 524-3709
Lisa Romanko
Senior Director, Investor Relations

(732) 524-2034
Renee McKenna
Executive Assistant

(732) 524-6492

Reports Available
Dividend Reinvestment Plan
The Plan allows for full or partial dividend
reinvestment and additional monthly cash
investments up to $50,000 per year in
Johnson & Johnson Common Stock without
brokerage commissions or service charges on
stock purchases. If you are interested in
participating in the Plan and need an
authorization form and/or more information,
please call Computershare Trust Company,
N.A. at (800) 328-9033 or (781) 575-2718
(outside the U.S.).

Shareholder Relations Contact

Douglas K. Chia
Corporate Secretary
(732) 524-2455

Copies of the Company's 2012 Annual

Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form
8-K to the Securities and Exchange
Commission, Proxy Statement and the
Annual Report are available online
at www.jnj.com or to shareholders without
charge upon written request to the
Secretary at the Company's principal
address or by calling (800) 328-9033 or
(781) 575-2718 (outside the U.S.)

Press Releases
Press releases, including earnings
reports, are available via web
access http://www.jnj.com

Internet Access
Visit the Johnson & Johnson Home
Page on the
Internet: http://www.jnj.com

Johnson & Johnson 2012

Trademarks and service marks of Johnson & Johnson and its affiliated
companies are designated by all capital letters in this publication

20

2012
Investor
Fact Sheet
Description
Worlds most comprehensive and broadly based manufacturer of health
care products
Serves the Consumer, Pharmaceutical and Medical Devices and
Diagnostics markets with a focus on research-based, technology-driven
products

New Products Introduced

in Past 5 Years

Approximately

25%

Consistent Performance
29 consecutive years of earnings increases adjusted for special items
51 consecutive years of dividends increases (includes April 2013 dividend
increase)
One Year2

Five Years2

Ten Years2

3.4%
2.0%
7.0%
10.8%

1.9%
4.2%
8.0%
4.4%

6.4%
9.1%
11.5%
5.5%

Sales
Diluted Earnings per Share 1
Dividend Growth
Total Return to Shareholders
1 Non-GAAP
2 Compounded Annual Growth Rates

Broadly Based/Exceptional Financial Strength

Over 275 operating companies in 60 countries selling products
throughout the world (approximately 56% of sales outside of U.S.)
Sales split among Consumer, Pharmaceutical and Medical Devices and
Diagnostics business segments
More than 100 drugs marketed; 43 drugs over $50 million; 31 drugs over
$100 million; 7 drugs over $1 billion
One of four U.S. industrial companies that still commands a Triple A
credit rating by both Standard & Poors and Moodys credit rating
agencies
Generated annual free cash flow in 2012 of $12.5 billion.

Net Earnings(1) (as reported)

$U.S. Millions
$10,576

$10,853

$6,277

2002

2007

(1) Net Earnings attributable to Johnson & Johnson

2012

2012 Worldwide
Sales $67.2 Billion
Worldwide Market Leadership
Largest Medical Device company
8th largest Pharmaceutical company
globally
6th largest Biotech company globally
Leadership Positions in Major Markets:
Antineoplastic Antibiotics
Antipsychotics (Injectables)
Anti - TNF
Baby Care
Biosurgicals
Blood Glucose Monitoring
Breast Aesthetics
Cytostatic hormone antagonist
Disposable Contact Lenses
Donor Screening
Electrophysiology diagnostics
& catheters
Immunohematology
Infection Prevention
Lo-Cal Sweeteners
Minimally Invasive Surgery
Oral Rinses
Orthopaedics
Sanitary Protection
Sutures
Systemic Antipsoriasis
products
Wound Care
Approximately 70% of sales are derived
from products/businesses that have a
#1 or #2 global market share position
Please visit our Home Page on the Internet at
http://www.jnj.com for requests for Company
Reports, including the 2012 Annual Report
and SEC filings. Questions regarding stock
holdings and the Dividend Reinvestment
Plan, should be directed to: Computershare
Trust Company,N.A. Phone (800) 328-9033

Johnson & Johnson

Shareholder Return Comparison

S&P 500

$100 Dollars invested December 31, 2007

S&P Pharm
S&P H/C Equip

DOLLARS

135
110
85

Strong Commitment to New

Product Development
$7.7 billion in Research &
Development expense in 2012
Numerous external alliances and
collaborations entered into
annually
Approximately 25% of products
sold in 2012 introduced in last 5
years

60
2007

2008

2009

2010

2011

2012

This chart provides a comparison of cumulative total shareholder return for an

investment in Johnson & Johnson Common Stock as of December 31, 2007 to a similar
investment. Assuming dividends were reinvested, a $100.00 investment in Johnson &
Johnson would have grown to $124.24 as of December 31, 2012. This compares to a value
of $108.59 for the S&P 500 Stock Index and $131.75 for the S&P Pharmaceutical Index
and $105.46 for the S&P Health Care Equipment Index.
Source: Bloomberg

2012 Sales by Geographic

Area

2012 Sales by Segment

$U.S. Billions

$U.S. Billions

$29.8 U.S.

MD&D

Consumer

$27.4

$14.4
44%

41%

21%
25%

Europe*

Well Positioned for Future

Growth
Solid pipeline of new and
innovative products
U.S. demographics point to high
growth in health care industry
Broad geographic reach provides
ability to rapidly introduce new
products in markets around the
world
Focus on products which reduce
the cost of health care
Management based on a core set of
Strategic Principles: Broadly based
in human health care, Managed for
the long term, Decentralized
management approach and Our
people and values.

$17.0

20%

38%

11%

Investor Information

$13.2
Asia-Pacific
Africa

$7.2

NYSE Symbol: JNJ

$25.4

Western
Hemisphere
*Rounded for visual accuracy

Pharmaceutical

For additional information,

contact:
Investor Relations Department
One Johnson & Johnson Plaza
New Brunswick, NJ 08933
Voice: (800) 950-5089
Fax: (732) 524-3867

Net Trade Sales

$U.S. Billions

$67.2

International
U.S.

$61.1

$36.3

2002
Johnson & Johnson 2012

2007

2012

Press releases, including earnings

reports, are available via web access:
http://www.jnj.com