EX-99.2 3 a2024q4exhibit992.htm EX-99.2 Document

Exhibit 99.2
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)FOURTH QUARTER
Percent Change
Sales to customers by geographic area20242023TotalOperationsCurrency
U.S.$13,204 12,009 10.0 %10.0 — 
Europe4,921 4,962 (0.8)(0.2)(0.6)
Western Hemisphere excluding U.S.1,135 1,166 (2.7)17.6 (20.3)
Asia-Pacific, Africa3,260 3,258 0.1 0.9 (0.8)
International9,316 9,386 (0.7)2.5 (3.2)
Worldwide$22,520 21,395 5.3 %6.7 (1.4)


Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)FOURTH QUARTER
Percent Change
Sales to customers by geographic area (ex. COVID-19 Vaccine)20242023TotalOperationsCurrency
U.S.*$13,204 12,009 10.0 %10.0 — 
Europe(1)
4,921 4,918 0.1 0.7 (0.6)
Western Hemisphere excluding U.S.*1,135 1,166 (2.7)17.6 (20.3)
Asia-Pacific, Africa*3,260 3,258 0.1 0.9 (0.8)
International9,316 9,342 (0.3)2.9 (3.2)
Worldwide$22,520 21,351 5.5 %6.9 (1.4)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales information schedules
*No COVID-19 Vaccine Sales



Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)TWELVE MONTHS
Percent Change
Sales to customers by geographic area20242023TotalOperationsCurrency
U.S.$50,302 46,444 8.3 %8.3 — 
Europe20,212 20,410 (1.0)(0.6)(0.4)
Western Hemisphere excluding U.S.4,714 4,549 3.6 20.4 (16.8)
Asia-Pacific, Africa13,593 13,756 (1.2)2.3 (3.5)
International38,519 38,715 (0.5)2.9 (3.4)
Worldwide$88,821 85,159 4.3 %5.9 (1.6)


Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)TWELVE MONTHS
Percent Change
Sales to customers by geographic area (ex. COVID-19 Vaccine)20242023TotalOperationsCurrency
U.S.*$50,302 46,444 8.3 %8.3 — 
Europe(1)
20,014 19,293 3.7 4.1 (0.4)
Western Hemisphere excluding U.S.*4,714 4,549 3.6 20.4 (16.8)
Asia-Pacific, Africa*13,593 13,756 (1.2)2.3 (3.5)
International38,321 37,598 1.9 5.5 (3.6)
Worldwide$88,623 84,042 5.5 %7.0 (1.5)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales information schedules
*No COVID-19 Vaccine Sales



Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)FOURTH QUARTER
Percent Change
Sales to customers by segment of business20242023TotalOperationsCurrency
Innovative Medicine (1)
U.S.$8,977 8,079 11.1 %11.1 — 
International5,355 5,643 (5.1)(1.0)(4.1)
14,332 13,722 4.4 6.1 (1.7)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S.8,977 8,079 11.1 11.1 — 
International5,355 5,599 (4.4)(0.3)(4.1)
14,332 13,678 4.8 6.5 (1.7)
MedTech
U.S.4,227 3,930 7.6 7.6 — 
International3,961 3,743 5.8 7.6 (1.8)
8,188 7,673 6.7 7.6 (0.9)
U.S.13,204 12,009 10.0 10.0 — 
International9,316 9,386 (0.7)2.5 (3.2)
Worldwide22,520 21,395 5.3 6.7 (1.4)
U.S.13,204 12,009 10.0 10.0 — 
International9,316 9,342 (0.3)2.9 (3.2)
Worldwide excluding COVID-19 Vaccine (1)
$22,520 21,351 5.5 %6.9 (1.4)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1)Refer to supplemental sales information schedules.




Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)TWELVE MONTHS
Percent Change
Sales to customers by segment of business20242023TotalOperationsCurrency
Innovative Medicine (1)
U.S.$33,970 31,169 9.0 %9.0 — 
International22,994 23,590 (2.5)1.3 (3.8)
56,964 54,759 4.0 5.7 (1.7)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S.33,970 31,169 9.0 9.0 — 
International22,796 22,473 1.4 5.5 (4.1)
56,766 53,642 5.8 7.5 (1.7)
MedTech
U.S.16,332 15,275 6.9 6.9 — 
International15,525 15,125 2.6 5.4 (2.8)
31,857 30,400 4.8 6.2 (1.4)
U.S.50,302 46,444 8.3 8.3 — 
International38,519 38,715 (0.5)2.9 (3.4)
Worldwide88,821 85,159 4.3 5.9 (1.6)
U.S.50,302 46,444 8.3 8.3 — 
International38,321 37,598 1.9 5.5 (3.6)
Worldwide excluding COVID-19 Vaccine (1)
$88,623 84,042 5.5 %7.0 (1.5)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1)Refer to supplemental sales information schedules.




Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures)FOURTH QUARTER
20242023Percent
Increase
(Decrease)
AmountPercent
to Sales
AmountPercent
to Sales
Sales to customers$22,520 100.0 $21,395 100.0 5.3 
Cost of products sold7,128 31.6 6,798 31.8 4.9 
Gross Profit15,392 68.4 14,597 68.2 5.4 
Selling, marketing and administrative expenses6,453 28.6 5,810 27.1 11.1 
Research and development expense5,298 23.5 4,480 20.9 18.3 
In-process research and development impairments17 0.1 58 0.3 
Interest (income) expense, net(144)(0.6)(212)(1.0)
Other (income) expense, net(161)(0.7)(421)(2.0)
Restructuring42 0.2 56 0.3 
Earnings before provision for taxes on income3,887 17.3 4,826 22.6 (19.5)
Provision for taxes on income456 2.1 694 3.3 (34.3)
Net earnings from Continuing Operations$3,431 15.2 $4,132 19.3 (17.0)
Net earnings/(loss) from Discontinued Operations, net of tax  (83) 
Net earnings$3,431  $4,049  
Net earnings per share (Diluted) from Continuing Operations$1.41 $1.70 (17.1)
Net earnings/(loss) per share (Basic) from Discontinued Operations*$ $(0.03) 
Average shares outstanding (Diluted)2,427.1 2,430.7 
Effective tax rate from Continuing Operations11.7 %14.4 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations$5,421 24.1$6,237 29.2(13.1)
Net earnings from Continuing Operations$4,946 22.0$5,562 26.0(11.1)
Net earnings per share (Diluted) from Continuing Operations$2.04 $2.29 (10.9)
Effective tax rate from Continuing Operations8.8 %10.8 %
* Basic shares of 2,407.2 are used to calculate loss per share in the fourth quarter of 2023 as use of diluted shares when in a loss position would be anti-dilutive.
(1) See Reconciliation of Non-GAAP Financial Measures.
(A)    NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures)TWELVE MONTHS
20242023Percent Increase (Decrease)
AmountPercent to SalesAmountPercent to Sales
Sales to customers$88,821 100.0 $85,159 100.0 4.3 
Cost of products sold27,471 30.9 26,553 31.2 3.5 
Gross Profit61,350 69.1 58,606 68.8 4.7 
Selling, marketing and administrative expenses22,869 25.7 21,512 25.2 6.3 
Research and development expense17,232 19.4 15,085 17.7 14.2 
In-process research and development impairments211 0.2 313 0.4  
Interest (income) expense, net(577)(0.6)(489)(0.6) 
Other (income) expense, net4,694 5.3 6,634 7.8  
Restructuring234 0.3 489 0.6 
Earnings before provision for taxes on income16,687 18.8 15,062 17.7 10.8 
Provision for taxes on income2,621 3.0 1,736 2.1 51.0 
Net earnings from Continuing Operations$14,066 15.8 $13,326 15.6 5.6 
Net earnings from Discontinued Operations, net of tax    21,827    
Net earnings$14,066    $35,153    
Net earnings per share (Diluted) from Continuing Operations$5.79 $5.20 11.3 
Net earnings per share (Diluted) from Discontinued Operations$ $8.52  
Average shares outstanding (Diluted)2,429.4 2,560.4 
Effective tax rate from Continuing Operations15.7 %11.5 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations$28,979 32.6 $29,811 35.0 (2.8)
Net earnings from Continuing Operations$24,242 27.3 $25,409 29.8 (4.6)
Net earnings per share (Diluted) from Continuing Operations$9.98 $9.92 0.6 
Effective tax rate from Continuing Operations16.3 %14.8 %
(1)See Reconciliation of Non-GAAP Financial Measures.
(A)NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Fourth Quarter
(Dollars in Millions Except Per Share Data)20242023
Net Earnings from Continuing Operations, after tax- as reported$3,431 $4,132 
Pre-tax Adjustments
Litigation related(16)166 
Intangible Asset Amortization expense1,171 1,148 
COVID-19 Vaccine related costs 1
23 10 
Restructuring related 2
62 139 
Medical Device Regulation 3
47 88 
Acquisition, integration and divestiture related 298 237 
(Gains)/losses on securities (68)(435)
IPR&D impairments17 58 
Tax Adjustments
Tax impact on special item adjustments 4
(80)75 
Tax legislation and other tax related61 (56)
Adjusted Net Earnings from Continuing Operations, after tax$4,946 $5,562 
Average shares outstanding (Diluted)2,427.1 2,430.7 
Adjusted net earnings per share from Continuing Operations (Diluted)$2.04 $2.29 
Operational adjusted net earnings per share from Continuing Operations (Diluted)$2.05  
Notes:
1COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments which was completed in Q4 2024.
2In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expense of $102 million Q4 2024 YTD and $55 million in the fiscal fourth quarter of 2023 ($479 million Q4 2023 YTD) includes the termination of partnered and non-partnered program costs, asset impairments and asset divestments. This program was completed in Q4 2024.
In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense of $60 million in the fiscal fourth quarter of 2024 ($167 million Q4 2024 YTD) and $84 million in the fiscal fourth quarter of 2023 ($319 million Q4 2023 YTD) primarily includes costs related to market and product exits.
3European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance. The implementation was substantially completed as of Q4 2024, and ongoing costs will be reflected in MedTech's operating results beginning in 2025.
4The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.



Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Twelve Months Ended
(Dollars in Millions Except Per Share Data)20242023
Net Earnings from Continuing Operations, after tax- as reported$14,066 $13,326 
Pre-tax Adjustments
Litigation related5,450 7,152 
Intangible Asset Amortization expense4,526 4,532 
COVID-19 Vaccine related costs 1
100 663 
Restructuring related 2
269 798 
Medical Device Regulation 3
204 311 
Acquisition, integration and divestiture related1,226 339 
(Gains)/losses on securities306 641 
IPR&D impairments211 313 
Tax Adjustments
Tax impact on special item adjustments 4
(2,135)(2,694)
Tax legislation and other tax related19 28 
Adjusted Net Earnings from Continuing Operations, after tax$24,242 $25,409 
Average shares outstanding (Diluted)2,429.4 2,560.4 
Adjusted net earnings per share from Continuing Operations (Diluted)$9.98 $9.92 
Operational adjusted net earnings per share from Continuing Operations (Diluted)$9.99  
Notes:
1COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments which was completed in Q4 2024.
2In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expense of $102 million Q4 2024 YTD and $55 million in the fiscal fourth quarter of 2023 ($479 million Q4 2023 YTD) includes the termination of partnered and non-partnered program costs, asset impairments and asset divestments. This program was completed in Q4 2024.
In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense of $60 million in the fiscal fourth quarter of 2024 ($167 million Q4 2024 YTD) and $84 million in the fiscal fourth quarter of 2023 ($319 million Q4 2023 YTD) primarily includes costs related to market and product exits.
3European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance. The implementation was substantially completed as of Q4 2024, and ongoing costs will be reflected in MedTech's operating results beginning in 2025.
4The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.



Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
Fourth quarter 2024 actual vs. 2023 actual
Segments
 Innovative Medicine MedTech  Total
WW As Reported 4.4 %6.7 %5.3 %
U.S. 11.1 %7.6 %10.0 %
International (5.1 %)5.8 %(0.7 %)
WW Currency (1.7)(0.9)(1.4)
U.S.
International (4.1)(1.8)(3.2)
WW Operational 6.1 %7.6 %6.7 %
U.S. 11.1 %7.6 %10.0 %
International(1.0 %)7.6 %2.5 %
Shockwave(3.4)(1.2)
U.S.(5.1)(1.7)
International(1.5)(0.6)
All Other Acquisitions and Divestitures (A&D)0.20.40.2
U.S. 0.10.80.3
International 0.30.00.1
WW Adjusted Operational Ex A&D6.3 %4.6 %5.7 %
U.S.11.2 %3.3 %8.6 %
International(0.7 %)6.1 %2.0 %
COVID-19 Vaccine0.40.2
U.S.0.00.0
International0.70.4
WW Adjusted Operational Ex A&D & COVID-19 Vaccine6.7 %4.6 %5.9 %
U.S. 11.2 %3.3 %8.6 %
International 0.0 %6.1 %2.4 %
Note: Percentages are based on actual, non-rounded figures and may not sum
(A)    NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
Twelve months 2024 actual vs. 2023 actual
Segments
 Innovative Medicine MedTech  Total
WW As Reported 4.0 %4.8 %4.3 %
U.S. 9.0 %6.9 %8.3 %
International (2.5)%2.6 %(0.5)%
WW Currency (1.7)(1.4)(1.6)
U.S.
International (3.8)(2.8)(3.4)
WW Operational 5.7 %6.2 %5.9 %
U.S. 9.0 %6.9 %8.3 %
International1.3 %5.4 %2.9 %
Shockwave(1.9)(0.7)
U.S.(2.9)(1.0)
International(0.8)(0.3)
All Other Acquisitions and Divestitures (A&D)0.10.40.2
U.S. 0.10.80.3
International 0.20.10.1
WW Adjusted Operational Ex A&D5.8 %4.7 %5.4 %
U.S.9.1 %4.8 %7.6 %
International1.5 %4.7 %2.7 %
COVID-19 Vaccine1.81.1
U.S.0.00.0
International4.22.6
WW Adjusted Operational Ex A&D & COVID-19 Vaccine7.6 %4.7 %6.5 %
U.S. 9.1 %4.8 %7.6 %
International 5.7 %4.7 %5.3 %
Note: Percentages are based on actual, non-rounded figures and may not sum
(A)    NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



Johnson & Johnson
Segment sales
(Dollars in Millions)
FOURTH QUARTER
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
IMMUNOLOGY
US$2,856 3,033 (5.9)%(5.9)%— %
Intl1,383 1,562 (11.5)(6.5)(5.0)
WW4,238 4,595 (7.8)(6.1)(1.7)
REMICADE
US231 294 (21.4)(21.4)— 
US Exports(3)
9 35 (73.3)(73.3)— 
Intl117 100 16.5 22.9 (6.4)
WW359 429 (16.5)(15.0)(1.5)
SIMPONI / SIMPONI ARIA
US262 258 1.3 1.3 — 
Intl321 244 32.1 44.2 (12.1)
WW583 502 16.2 22.1 (5.9)
STELARA
US1,699 1,786 (4.9)(4.9)— 
Intl650 967 (32.7)(29.6)(3.1)
WW2,349 2,753 (14.7)(13.6)(1.1)
TREMFYA
US654 657 (0.6)(0.6)— 
Intl295 252 16.9 21.7 (4.8)
WW949 910 4.2 5.6 (1.4)
OTHER IMMUNOLOGY
US0 2 **— 
Intl0 0 — — — 
WW0 2 ***
INFECTIOUS DISEASES
US331 353 (6.4)(6.4)— 
Intl443 498 (11.2)(9.8)(1.4)
WW774 852 (9.2)(8.4)(0.8)
COVID-19 VACCINE
US0 0 — — — 
Intl0 44 ***
WW0 44 ***
EDURANT / rilpivirine
US7 9 (10.1)(10.1)— 
Intl315 299 5.0 5.6 (0.6)
WW322 307 4.6 5.1 (0.5)
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US321 341 (5.8)(5.8)— 
Intl86 98 (12.9)(8.9)(4.0)
WW407 439 (7.4)(6.5)(0.9)
OTHER INFECTIOUS DISEASES
US1 4 (53.1)(53.1)— 
Intl43 58 (24.2)(22.4)(1.8)
WW45 62 (26.1)(24.4)(1.7)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
FOURTH QUARTER
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
NEUROSCIENCE
US$1,148 1,022 12.3 %12.3 %— %
Intl628 780 (19.6)(16.8)(2.8)
WW1,775 1,801 (1.5)(0.3)(1.2)
CONCERTA / methylphenidate
US33 39 (12.8)(12.8)— 
Intl125 142 (11.5)(7.7)(3.8)
WW159 180 (11.7)(8.8)(2.9)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US796 733 8.6 8.6 — 
Intl267 278 (4.0)(1.8)(2.2)
WW1,063 1,011 5.1 5.7 (0.6)
SPRAVATO
US269 180 50.1 50.1 — 
Intl28 26 7.1 12.5 (5.4)
WW297 206 44.6 45.3 (0.7)
OTHER NEUROSCIENCE
US49 71 (31.0)(31.0)— 
Intl206 334 (38.1)(35.4)(2.7)
WW255 404 (36.9)(34.6)(2.3)
ONCOLOGY
US3,019 2,285 32.2 32.2 — 
Intl2,476 2,334 6.1 10.6 (4.5)
WW5,497 4,618 19.0 21.3 (2.3)
CARVYKTI
US304 145 **— 
Intl31 13 ***
WW334 159 ***
DARZALEX
US1,799 1,395 28.9 28.9 — 
Intl1,285 1,155 11.3 17.0 (5.7)
WW3,084 2,550 20.9 23.5 (2.6)
ERLEADA
US342 287 19.0 19.0 — 
Intl442 361 22.4 25.7 (3.3)
WW784 647 20.9 22.7 (1.8)
IMBRUVICA
US250 255 (2.0)(2.0)— 
Intl481 533 (9.6)(6.8)(2.8)
WW731 788 (7.2)(5.2)(2.0)
TECVAYLI
US108 102 5.6 5.6 — 
Intl38 24 59.9 71.6 (11.7)
WW146 126 15.8 18.0 (2.2)
ZYTIGA / abiraterone acetate
US9 9 (7.3)(7.3)— 
Intl127 191 (33.6)(30.7)(2.9)
WW135 201 (32.4)(29.6)(2.8)
OTHER ONCOLOGY
US208 90 **— 
Intl74 58 25.5 30.6 (5.1)
WW282 148 90.4 92.4 (2.0)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
FOURTH QUARTER
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
PULMONARY HYPERTENSION
US$819 733 11.6 %11.6 %— %
Intl274 282 (3.2)1.2 (4.4)
WW1,092 1,017 7.4 8.7 (1.3)
OPSUMIT
US385 368 4.8 4.8 — 
Intl160 169 (5.2)(2.5)(2.7)
WW545 536 1.7 2.5 (0.8)
UPTRAVI
US391 348 12.3 12.3 — 
Intl75 70 5.7 11.2 (5.5)
WW465 419 11.2 12.1 (0.9)
OTHER PULMONARY HYPERTENSION
US42 18 **— 
Intl40 45 (10.0)(0.4)(9.6)
WW82 61 32.3 39.3 (7.0)
CARDIOVASCULAR / METABOLISM / OTHER
US80565223.3 23.3 — 
Intl153185(17.6)(15.1)(2.5)
WW95783714.3 14.8 (0.5)
XARELTO
US676 525 28.5 28.5 — 
Intl  — — — 
WW676 525 28.5 28.5 — 
OTHER
US130 127 1.5 1.5 — 
Intl153 185 (17.6)(15.1)(2.5)
WW281 312 (9.8)(8.3)(1.5)
TOTAL INNOVATIVE MEDICINE
US8,9778,07911.1 11.1  
Intl5,3555,643(5.1)(1.0)(4.1)
WW$14,332 13,7224.4 %6.1 %(1.7)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
FOURTH QUARTER
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR(4)
US$1,221 971 25.8 %25.8 %— %
Intl841 698 20.6 22.0 (1.4)
WW2,062 1,669 23.6 24.2 (0.6)
ELECTROPHYSIOLOGY
US681 667 2.1 2.1 — 
Intl640 572 11.7 13.3 (1.6)
WW1,321 1,239 6.6 7.3 (0.7)
ABIOMED
US308 276 11.3 11.3 — 
Intl77 64 19.8 21.1 (1.3)
WW384 340 12.9 13.2 (0.3)
SHOCKWAVE(5)
US202  **— 
Intl56  **— 
WW258  **— 
OTHER CARDIOVASCULAR(4)
US31 28 11.1 11.1 — 
Intl68 61 12.1 12.3 (0.2)
WW99 89 11.8 12.0 (0.2)
ORTHOPAEDICS
US1,460 1,425 2.4 2.4 — 
Intl856 843 1.6 2.5 (0.9)
WW2,315 2,268 2.1 2.5 (0.4)
HIPS
US272 266 2.5 2.5 — 
Intl146 132 10.6 11.7 (1.1)
WW418 398 5.2 5.6 (0.4)
KNEES
US238 242 (1.5)(1.5)— 
Intl160 144 10.7 11.3 (0.6)
WW398 387 3.1 3.3 (0.2)
TRAUMA
US514 487 5.5 5.5 — 
Intl250 255 (1.9)(0.5)(1.4)
WW764 741 3.0 3.5 (0.5)
SPINE, SPORTS & OTHER
US434 430 1.1 1.1 — 
Intl300 311 (3.6)(2.9)(0.7)
WW735 742 (0.9)(0.6)(0.3)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
FOURTH QUARTER
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
SURGERY
US$1,038 1,047 (0.9)%(0.9)%— %
Intl1,469 1,484 (1.0)1.4 (2.4)
WW2,507 2,530 (0.9)0.4 (1.3)
ADVANCED
US478 468 2.0 2.0 — 
Intl673 698 (3.6)(1.6)(2.0)
WW1,151 1,167 (1.4)(0.1)(1.3)
GENERAL
US560 579 (3.1)(3.1)— 
Intl795 785 1.4 4.0 (2.6)
WW1,357 1,364 (0.5)1.0 (1.5)
VISION
US509 487 4.5 4.5 — 
Intl794 721 10.2 12.2 (2.0)
WW1,303 1,208 7.9 9.1 (1.2)
CONTACT LENSES / OTHER
US396 374 6.0 6.0 — 
Intl541 508 6.4 8.5 (2.1)
WW937 882 6.3 7.4 (1.1)
SURGICAL
US113 114 (0.4)(0.4)— 
Intl252 212 19.3 21.1 (1.8)
WW365 326 12.4 13.6 (1.2)
TOTAL MEDTECH
US4,227 3,930 7.6 7.6  
Intl3,961 3,743 5.8 7.6 (1.8)
WW$8,188 7,673 6.7 %7.6 %(0.9)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
TWELVE MONTHS
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
IMMUNOLOGY
US$11,355 11,539 (1.6)%(1.6)%— %
Intl6,473 6,513 (0.6)4.0 (4.6)
WW17,828 18,052 (1.2)0.4 (1.6)
REMICADE
US1,009 1,143 (11.7)(11.7)— 
US Exports(3)
98 147 (33.0)(33.0)— 
Intl497 549 (9.5)(5.0)(4.5)
WW1,605 1,839 (12.8)(11.4)(1.4)
SIMPONI / SIMPONI ARIA
US1,082 1,124 (3.8)(3.8)— 
Intl1,108 1,073 3.3 13.2 (9.9)
WW2,190 2,197 (0.3)4.5 (4.8)
STELARA
US6,720 6,966 (3.5)(3.5)— 
Intl3,641 3,892 (6.4)(3.3)(3.1)
WW10,361 10,858 (4.6)(3.4)(1.2)
TREMFYA
US2,443 2,147 13.7 13.7 — 
Intl1,227 999 22.8 27.6 (4.8)
WW3,670 3,147 16.6 18.1 (1.5)
OTHER IMMUNOLOGY
US3 11 (74.1)(74.1)— 
Intl0 0 
WW3 11 (74.1)(74.1)— 
INFECTIOUS DISEASES
US1,354 1,500 (9.8)(9.8)— 
Intl2,042 2,918 (30.0)(29.3)(0.7)
WW3,396 4,418 (23.1)(22.7)(0.4)
COVID-19 VACCINE
US0 0 — — — 
Intl198 1,117 (82.4)(82.4)0.0 
WW198 1,117 (82.4)(82.4)0.0 
EDURANT / rilpivirine
US31 35 (10.0)(10.0)— 
Intl1,241 1,115 11.2 11.2 0.0 
WW1,272 1,150 10.6 10.6 0.0 
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US1,311 1,446 (9.4)(9.4)— 
Intl401 408 (1.7)1.1 (2.8)
WW1,712 1,854 (7.7)(7.1)(0.6)
OTHER INFECTIOUS DISEASES
US11 19 (41.0)(41.0)— 
Intl203 278 (26.7)(23.9)(2.8)
WW214 297 (27.6)(25.0)(2.6)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
TWELVE MONTHS
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
NEUROSCIENCE
US$4,398 4,065 8.2 %8.2 %— %
Intl2,718 3,076 (11.6)(7.8)(3.8)
WW7,115 7,140 (0.4)1.3 (1.7)
CONCERTA / methylphenidate
US134 230 (41.7)(41.7)— 
Intl507 554 (8.4)(4.1)(4.3)
WW641 783 (18.1)(15.1)(3.0)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US3,125 2,897 7.9 7.9 — 
Intl1,097 1,218 (9.9)(7.1)(2.8)
WW4,222 4,115 2.6 3.4 (0.8)
SPRAVATO
US929 589 57.8 57.8 — 
Intl148 100 48.2 51.2 (3.0)
WW1,077 689 56.4 56.8 (0.4)
OTHER NEUROSCIENCE
US210 349 (39.8)(39.8)— 
Intl965 1,204 (19.8)(15.1)(4.7)
WW1,175 1,553 (24.3)(20.7)(3.6)
ONCOLOGY
US10,854 8,462 28.3 28.3 — 
Intl9,926 9,199 7.9 12.1 (4.2)
WW20,781 17,661 17.7 19.8 (2.1)
CARVYKTI
US869 469 85.2 85.2 — 
Intl94 30 ***
WW963 500 92.7 92.7 0.0 
DARZALEX
US6,588 5,277 24.8 24.8 — 
Intl5,082 4,467 13.8 19.1 (5.3)
WW11,670 9,744 19.8 22.2 (2.4)
ERLEADA
US1,282 1,065 20.3 20.3 — 
Intl1,717 1,322 29.8 32.9 (3.1)
WW2,999 2,387 25.6 27.3 (1.7)
IMBRUVICA
US1,020 1,051 (3.0)(3.0)— 
Intl2,018 2,214 (8.8)(6.3)(2.5)
WW3,038 3,264 (6.9)(5.2)(1.7)
TECVAYLI
US418 334 25.3 25.3 — 
Intl131 61 ***
WW549 395 38.8 39.8 (1.0)
ZYTIGA / abiraterone acetate
US34 50 (32.2)(32.2)— 
Intl597 837 (28.6)(24.6)(4.0)
WW631 887 (28.8)(25.0)(3.8)
OTHER ONCOLOGY
US643 215 **— 
Intl288 269 7.1 10.4 (3.3)
WW931 484 92.5 94.3 (1.8)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
TWELVE MONTHS
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
PULMONARY HYPERTENSION
US$3,143 2,697 16.5 %16.5 %— %
Intl1,140 1,117 2.0 8.2 (6.2)
WW4,282 3,815 12.3 14.1 (1.8)
OPSUMIT
US1,520 1,292 17.7 17.7 — 
Intl664 681 (2.4)1.1 (3.5)
WW2,184 1,973 10.7 11.9 (1.2)
UPTRAVI
US1,511 1,326 13.9 13.9 — 
Intl307 255 20.1 27.3 (7.2)
WW1,817 1,582 14.9 16.1 (1.2)
OTHER PULMONARY HYPERTENSION
US112 79 41.8 41.8 — 
Intl169 182 (6.9)8.2 (15.1)
WW281 260 7.9 18.3 (10.4)
CARDIOVASCULAR / METABOLISM / OTHER
US2,8662,906(1.4)(1.4)— 
Intl696765(9.1)(7.1)(2.0)
WW3,5623,671(3.0)(2.6)(0.4)
XARELTO
US2,373 2,365 0.3 0.3 — 
Intl  — — — 
WW2,373 2,365 0.3 0.3 — 
OTHER
US494 541 (8.8)(8.8)— 
Intl696 765 (9.1)(7.1)(2.0)
WW1,189 1,306 (8.9)(7.8)(1.1)
TOTAL INNOVATIVE MEDICINE
US33,97031,1699.0 9.0  
Intl22,99423,590(2.5)1.3 (3.8)
WW$56,964 54,7594.0 %5.7 %(1.7)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
TWELVE MONTHS
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR(4)
US$4,513 3,633 24.2 %24.2 %— %
Intl3,194 2,717 17.6 20.9 (3.3)
WW7,707 6,350 21.4 22.8 (1.4)
ELECTROPHYSIOLOGY
US2,738 2,458 11.4 11.4 — 
Intl2,529 2,230 13.4 17.0 (3.6)
WW5,267 4,688 12.3 14.0 (1.7)
ABIOMED
US1,213 1,066 13.7 13.7 — 
Intl284 240 18.2 20.3 (2.1)
WW1,496 1,306 14.5 14.9 (0.4)
SHOCKWAVE(5)
US442  **— 
Intl122  **— 
WW564  **— 
OTHER CARDIOVASCULAR(4)
US120 109 10.7 10.7 — 
Intl260 247 5.3 7.3 (2.0)
WW380 356 6.9 8.4 (1.5)
ORTHOPAEDICS
US5,689 5,525 3.0 3.0 — 
Intl3,470 3,417 1.5 3.0 (1.5)
WW9,158 8,942 2.4 3.0 (0.6)
HIPS
US1,057 996 6.2 6.2 — 
Intl581 564 3.0 4.6 (1.6)
WW1,638 1,560 5.0 5.6 (0.6)
KNEES
US922 896 2.9 2.9 — 
Intl623 559 11.3 12.4 (1.1)
WW1,545 1,456 6.1 6.5 (0.4)
TRAUMA  
US2,013 1,949 3.3 3.3 — 
Intl1,036 1,030 0.6 2.1 (1.5)
WW3,049 2,979 2.3 2.9 (0.6)
SPINE, SPORTS & OTHER
US1,696 1,684 0.7 0.7 — 
Intl1,230 1,263 (2.6)(1.2)(1.4)
WW2,926 2,947 (0.7)(0.1)(0.6)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
TWELVE MONTHS
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
SURGERY
US$4,003 4,031 (0.7)%(0.7)%— %
Intl5,842 6,006 (2.7)0.6 (3.3)
WW9,845 10,037 (1.9)0.1 (2.0)
ADVANCED  
US1,838 1,833 0.2 0.2 — 
Intl2,650 2,837 (6.6)(3.5)(3.1)
WW4,488 4,671 (3.9)(2.0)(1.9)
GENERAL  
US2,165 2,198 (1.5)(1.5)— 
Intl3,192 3,168 0.8 4.3 (3.5)
WW5,358 5,366 (0.2)2.0 (2.2)
VISION
US2,128 2,086 2.0 2.0 — 
Intl3,018 2,986 1.1 3.7 (2.6)
WW5,146 5,072 1.5 3.0 (1.5)
CONTACT LENSES / OTHER    
US1,684 1,626 3.6 3.6 — 
Intl2,049 2,076 (1.3)1.8 (3.1)
WW3,733 3,702 0.8 2.6 (1.8)
SURGICAL    
US444 460 (3.4)(3.4)— 
Intl969 910 6.5 8.2 (1.7)
WW1,413 1,370 3.2 4.3 (1.1)
    
TOTAL MEDTECH
US16,332 15,275 6.9 6.9  
Intl15,525 15,125 2.6 5.4 (2.8)
WW$31,857 30,400 4.8 %6.2 %(1.4)%

Note: Column and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
*    Percentage greater than 100% or not meaningful
(1)Operational growth excludes the effect of translational currency
(2)Unaudited
(3)Reported as U.S. sales
(4)Previously referred to as Interventional Solutions
(5)Acquired on May 31, 2024



Supplemental sales information (unaudited)
(Dollars in Millions)
FOURTH QUARTER
% Change
20242023TotalOperationsCurrency
Innovative Medicine
U.S.$8,977 8,079 11.1 %11.1 — 
International5,355 5,643 (5.1)(1.0)(4.1)
Worldwide14,332 13,722 4.4 6.1 (1.7)
COVID-19 Vaccine
U.S.— — — 
International— 44 ***
Worldwide— 44 ***
Innovative Medicine excluding COVID-19 Vaccine
U.S.8,977 8,079 11.1 11.1 — 
International5,355 5,599 (4.4)(0.3)(4.1)
Worldwide14,332 13,678 4.8 6.5 (1.7)
Worldwide
U.S.13,204 12,009 10.0 10.0 — 
International9,316 9,386 (0.7)2.5 (3.2)
Worldwide22,520 21,395 5.3 6.7 (1.4)
COVID-19 Vaccine
U.S.— — — 
International— 44 ***
Worldwide— 44 ***
Worldwide
U.S.13,204 12,009 10.0 10.0 — 
International9,316 9,342 (0.3)2.9 (3.2)
Worldwide excluding COVID-19 Vaccine$22,520 21,351 5.5 6.9 (1.4)
Europe$4,921 4,962 (0.8)(0.2)(0.6)
Europe COVID-19 Vaccine Sales— 44 ***
Europe excluding COVID-19 Vaccine$4,921 4,918 0.1 0.7 (0.6)
Note: Columns and rows within tables may not add due to rounding
* Percentage greater than 100% or not meaningful



Supplemental sales information (unaudited)
(Dollars in Millions)
TWELVE MONTHS
% Change
20242023TotalOperationsCurrency
Innovative Medicine
U.S.$33,970 31,169 9.0 %9.0 — 
International22,994 23,590 (2.5)1.3 (3.8)
Worldwide56,964 54,759 4.0 5.7 (1.7)
COVID-19 Vaccine
U.S.— — — — — 
International198 1,117 (82.4)(82.4)0.0 
Worldwide198 1,117 (82.4)(82.4)0.0 
Innovative Medicine excluding COVID-19 Vaccine
U.S.33,970 31,169 9.0 9.0 — 
International22,796 22,473 1.4 5.5 (4.1)
Worldwide56,766 53,642 5.8 7.5 (1.7)
Worldwide
U.S.50,302 46,444 8.3 8.3 — 
International38,519 38,715 (0.5)2.9 (3.4)
Worldwide88,821 85,159 4.3 5.9 (1.6)
COVID-19 Vaccine
U.S.— — — — — 
International198 1,117 (82.4)(82.4)0.0 
Worldwide198 1,117 (82.4)(82.4)0.0 
Worldwide
U.S.50,302 46,444 8.3 8.3 — 
International38,321 37,598 1.9 5.5 (3.6)
Worldwide excluding COVID-19 Vaccine$88,623 84,042 5.5 %7.0 (1.5)
Europe$20,212 20,410 (1.0)%(0.6)(0.4)
Europe COVID-19 Vaccine Sales198 1,117 (82.4)(82.4)0.0 
Europe excluding COVID-19 Vaccine$20,014 19,293 3.7 %4.1 (0.4)
Note: Columns and rows within tables may not add due to rounding