JOHNSON & JOHNSON - FORM 8-K - EX-99.2O - EXHIBIT

Attached files

file	filename
8-K - 8-K - JOHNSON & JOHNSON	a2014q28kcover.htm
EX-99.15 - EXHIBIT - JOHNSON & JOHNSON	a2014q28kexhibit9915.htm

Exhibit 99.2O



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	SECOND QUARTER

	2014			2013			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 19,495		100.0	$ 17,877		100.0	9.1
Cost of products sold	6,039		31.0	5,489		30.7	10.0
Selling, marketing and administrative expenses	5,481		28.1	5,376		30.1	2.0
Research and development expense	2,005		10.3	1,946		10.9	3.0
In-process research and development	4		0.0	—		—
Interest (income) expense, net	114		0.6	101		0.6
Other (income) expense, net	226		1.1	172		0.9
Earnings before provision for taxes on income	5,626		28.9	4,793		26.8	17.4
Provision for taxes on income	1,300		6.7	960		5.4	35.4
Net earnings	$ 4,326		22.2	$ 3,833		21.4	12.9

Net earnings per share (Diluted)	$ 1.51			$ 1.33			13.5

Average shares outstanding (Diluted)	2,874.2			2,893.0

Effective tax rate	23.1	%		20.0	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 6,050		31.0	$ 5,359		30.0	12.9
Net earnings	$ 4,775		24.5	$ 4,289		24.0	11.3
Net earnings per share (Diluted)	$ 1.66			$ 1.48			12.2
Effective tax rate	21.1	%		20.0	%

⁽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 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. These non-GAAP financial measures are presented solely to permit investors to more fully understand how management assesses the performance of the Company. 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 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)	SIX MONTHS

	2014			2013			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 37,610		100.0	$ 35,382		100.0	6.3
Cost of products sold	11,494		30.6	11,043		31.2	4.1
Selling, marketing and administrative expenses	10,664		28.3	10,599		30.0	0.6
Research and development expense	3,836		10.2	3,730		10.5	2.8
In-process research and development	22		0.1	64		0.2
Interest (income) expense, net	232		0.6	205		0.6
Other (income) expense, net	312		0.8	687		1.9
Earnings before provision for taxes on income	11,050		29.4	9,054		25.6	22.0
Provision for taxes on income	1,997		5.3	1,724		4.9	15.8
Net earnings	$ 9,053		24.1	$ 7,330		20.7	23.5

Net earnings per share (Diluted)	$ 3.15			$ 2.55			23.5

Average shares outstanding (Diluted)	2,875.5			2,878.8

Effective tax rate	18.1	%		19.0	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 11,610		30.9	$ 10,429		29.5	11.3
Net earnings	$ 9,201		24.5	$ 8,396		23.7	9.6
Net earnings per share (Diluted)	$ 3.20			$ 2.92			9.6
Effective tax rate	20.7	%		19.5	%

⁽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 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. These non-GAAP financial measures are presented solely to permit investors to more fully understand how management assesses the performance of the Company. 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 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
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER
			Percent Change
	2014	2013	Total			Operations		Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,320	1,326	(0.5	)	%	(0.5	)	—
International	2,424	2,332	3.9			5.8		(1.9	)
	3,744	3,658	2.4			3.6		(1.2	)

Pharmaceutical
U.S.	4,613	3,377	36.6			36.6		—
International	3,896	3,648	6.8			6.9		(0.1	)
	8,509	7,025	21.1			21.1		0.0

Med Devices & Diagnostics
U.S.	3,199	3,243	(1.4	)		(1.4	)	—
International	4,043	3,951	2.3			2.6		(0.3	)
	7,242	7,194	0.7			0.9		(0.2	)

U.S.	9,132	7,946	14.9			14.9		—
International	10,363	9,931	4.4			5.0		(0.6	)
Worldwide	$ 19,495	17,877	9.1		%	9.4		(0.3	)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SIX MONTHS
			Percent Change
	2014	2013	Total			Operations		Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 2,629	2,674	(1.7	)	%	(1.7	)	—
International	4,672	4,659	0.3			3.3		(3.0	)
	7,301	7,333	(0.4	)		1.5		(1.9	)

Pharmaceutical
U.S.	8,353	6,848	22.0			22.0		—
International	7,654	6,945	10.2			11.6		(1.4	)
	16,007	13,793	16.1			16.8		(0.7	)

Med Devices & Diagnostics
U.S.	6,354	6,449	(1.5	)		(1.5	)	—
International	7,948	7,807	1.8			3.6		(1.8	)
	14,302	14,256	0.3			1.3		(1.0	)

U.S.	17,336	15,971	8.5			8.5		—
International	20,274	19,411	4.4			6.4		(2.0	)
Worldwide	$ 37,610	35,382	6.3		%	7.4		(1.1	)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER
			Percent Change
	2014	2013	Total			Operations	Currency
Sales to customers by
geographic area

U.S.	$ 9,132	7,946	14.9		%	14.9	—

Europe	5,056	4,672	8.2			4.1	4.1
Western Hemisphere excluding U.S.	1,863	1,905	(2.2	)		6.5	(8.7	)
Asia-Pacific, Africa	3,444	3,354	2.7			5.3	(2.6	)
International	10,363	9,931	4.4			5.0	(0.6	)

Worldwide	$ 19,495	17,877	9.1		%	9.4	(0.3	)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SIX MONTHS
			Percent Change
	2014	2013	Total			Operations	Currency
Sales to customers by
geographic area

U.S.	$ 17,336	15,971	8.5		%	8.5	—

Europe	9,941	9,153	8.6			5.3	3.3
Western Hemisphere excluding U.S.	3,558	3,688	(3.5	)		6.8	(10.3	)
Asia-Pacific, Africa	6,775	6,570	3.1			7.7	(4.6	)
International	20,274	19,411	4.4			6.4	(2.0	)

Worldwide	$ 37,610	35,382	6.3		%	7.4	(1.1	)



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures

	Second Quarter			% Incr. /
(Dollars in Millions Except Per Share Data)	2014		2013	(Decr.)

Earnings before provision for taxes on income - as reported	$ 5,626		4,793	17.4	%

Litigation expenses	276		375

Synthes integration/transaction costs	144		122

In-process research and development	4		—

DePuy ASR^TM Hip program	—		69

Other	—		—

Earnings before provision for taxes on income - as adjusted	$ 6,050		5,359	12.9	%

Net Earnings - as reported	$ 4,326		3,833	12.9	%

Litigation expenses	342	⁽¹⁾	308

Synthes integration/transaction costs	104		87

In-process research and development	3		—

DePuy ASR^TM Hip program	—		61

Tax benefit associated with Conor Medsystems	—		—

Other	—		—

Net Earnings - as adjusted	$ 4,775		4,289	11.3	%

Diluted Net Earnings per share - as reported	$ 1.51		1.33	13.5	%

Litigation expenses	0.12		0.10

Synthes integration/transaction costs	0.03		0.03

In-process research and development	—		—

DePuy ASR^TM Hip program	—		0.02

Tax benefit associated with Conor Medsystems	—		—

Other	—		—

Diluted Net Earnings per share - as adjusted	$ 1.66		1.48	12.2	%

(1) Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction

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.



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures

	Six Months YTD			% Incr. /
(Dollars in Millions Except Per Share Data)	2014		2013	(Decr.)

Earnings before provision for taxes on income - as reported	$ 11,050		9,054	22.0	%

Litigation expenses	276		904

Synthes integration/transaction costs	262		380

In-process research and development	22		64

DePuy ASR^TM Hip program	—		82

Other	—		(55)

Earnings before provision for taxes on income - as adjusted	$ 11,610		10,429	11.3	%

Net Earnings - as reported	$ 9,053		7,330	23.5	%

Litigation expenses	342	⁽¹⁾	699

Synthes integration/transaction costs	188		270

In-process research and development	16		42

DePuy ASR^TM Hip program	—		91

Tax benefit associated with Conor Medsystems	(398)		—

Other	—		(36)

Net Earnings - as adjusted	$ 9,201		8,396	9.6	%

Diluted Net Earnings per share - as reported	$ 3.15		2.55	23.5	%

Litigation expenses	0.12		0.24

Synthes integration/transaction costs	0.06		0.09

In-process research and development	0.01		0.02

DePuy ASR^TM Hip program	—		0.03

Tax benefit associated with Conor Medsystems	(0.14)		—

Other	—		(0.01)

Diluted Net Earnings per share - as adjusted	$ 3.20		2.92	9.6	%

(1) Includes adjustment to deferred tax asset related to deductibility by tax jurisdiction

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.



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2014	2013	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	107	106	0.9	%	0.9	%	—	%
Intl		500	480	4.2		8.6		(4.4	)
WW		607	586	3.6		7.2		(3.6	)

ORAL CARE
US		142	149	(4.7)		(4.7)		—
Intl		271	257	5.4		7.3		(1.9	)
WW		413	406	1.7		2.9		(1.2	)

OTC
US		316	290	9.0		9.0		—
Intl		687	641	7.2		7.4		(0.2	)
WW		1,003	931	7.7		7.8		(0.1	)

SKIN CARE
US		506	463	9.3		9.3		—
Intl		462	445	3.8		4.2		(0.4	)
WW		968	908	6.6		6.8		(0.2	)

WOMEN'S HEALTH
US		11	84	(86.9	)	(86.9	)	—
Intl		331	327	1.2		5.4		(4.2	)
WW		342	411	(16.8	)	(13.5	)	(3.3	)

WOUND CARE/OTHER
US		238	234	1.7		1.7		—
Intl		173	182	(4.9	)	(4.4	)	(0.5	)
WW		411	416	(1.2	)	(1.0	)	(0.2	)

TOTAL CONSUMER
US		1,320	1,326	(0.5	)	(0.5	)	—
Intl		2,424	2,332	3.9		5.8		(1.9	)
WW	$	3,744	3,658	2.4	%	3.6	%	(1.2	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2014	2013	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3)}

IMMUNOLOGY
US	$	1,853	1,578	17.4	%	17.4	%	—	%
Intl		778	663	17.3		19.1		(1.8	)
WW		2,631	2,241	17.4		17.9		(0.5	)
REMICADE
US		1,021	926	10.3		10.3		—
US Exports⁽⁴⁾		357	332	7.5		7.5		—
Intl		426	414	2.9		6.3		(3.4	)
WW		1,804	1,672	7.9		8.7		(0.8	)
SIMPONI/SIMPONI ARIA
US		132	87	51.7		51.7		—
Intl		150	88	70.5		71.3		(0.8	)
WW		282	175	61.1		61.5		(0.4	)
STELARA
US		343	233	47.2		47.2		—
Intl		185	138	34.1		31.4		2.7
WW		528	371	42.3		41.3		1.0
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		17	23	(26.1	)	(22.7	)	(3.4	)
WW		17	23	(26.1	)	(22.7	)	(3.4	)

INFECTIOUS DISEASES
US		1,020	259	*		*		—
Intl		742	711	4.4		3.5		0.9
WW		1,762	970	81.6		80.9		0.7
EDURANT
US		6	3	100.0		100.0		—
Intl		86	53	62.3		57.7		4.6
WW		92	56	64.3		60.0		4.3
INCIVO
US		—	—	—		—		—
Intl		97	172	(43.6	)	(42.5	)	(1.1	)
WW		97	172	(43.6	)	(42.5	)	(1.1	)
OLYSIO/SOVRIAD
US		725	—	*		*		—
Intl		106	—	*		*		0.0
WW		831	—	*		*		0.0
PREZISTA
US		239	196	21.9		21.9		—
Intl		253	239	5.9		4.7		1.2
WW		492	435	13.1		12.4		0.7
OTHER INFECTIOUS DISEASES
US		50	60	(16.7	)	(16.7	)	—
Intl		200	247	(19.0	)	(19.6	)	0.6
WW		250	307	(18.6	)	(19.0	)	0.4

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2014	2013	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

NEUROSCIENCE
US	$	600	626	(4.2	)%	(4.2	)%	—	%
Intl		1,027	1,054	(2.6	)	(2.4	)	(0.2	)
WW		1,627	1,680	(3.2	)	(3.1	)	(0.1	)
CONCERTA/METHYLPHENIDATE
US		28	85	(67.1	)	(67.1	)	—
Intl		117	130	(10.0	)	(8.3	)	(1.7	)
WW		145	215	(32.6	)	(31.6	)	(1.0	)
INVEGA
US		89	76	17.1		17.1		—
Intl		69	74	(6.8	)	(7.5	)	0.7
WW		158	150	5.3		5.0		0.3
INVEGA SUSTENNA/XEPLION
US		202	158	27.8		27.8		—
Intl		192	132	45.5		42.3		3.2
WW		394	290	35.9		34.4		1.5
RISPERDAL CONSTA
US		110	107	2.8		2.8		—
Intl		192	229	(16.2	)	(17.7	)	1.5
WW		302	336	(10.1	)	(11.1	)	1.0
OTHER NEUROSCIENCE
US		171	200	(14.5	)	(14.5	)	—
Intl		457	489	(6.5	)	(4.9	)	(1.6	)
WW		628	689	(8.9	)	(7.8	)	(1.1	)

ONCOLOGY
US		278	206	35.0		35.0		—
Intl		833	679	22.7		21.6		1.1
WW		1,111	885	25.5		24.6		0.9
VELCADE
US		—	—	—		—		—
Intl		403	379	6.3		6.2		0.1
WW		403	379	6.3		6.2		0.1
ZYTIGA
US		235	174	35.1		35.1		—
Intl		327	221	48.0		45.1		2.9
WW		562	395	42.3		40.7		1.6
OTHER ONCOLOGY
US		43	32	34.4		34.4		—
Intl		103	79	30.4		29.2		1.2
WW		146	111	31.5		30.6		0.9
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2014	2013	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

TOTAL OTHER
US	$	862	708	21.8	%	21.8	%	—	%
Intl		516	541	(4.6	)	(4.7	)	0.1
WW		1,378	1,249	10.3		10.3		0.0
PROCRIT/EPREX
US		178	190	(6.3	)	(6.3	)	—
Intl		141	145	(2.8	)	(3.4	)	0.6
WW		319	335	(4.8	)	(5.1	)	0.3
XARELTO
US		361	189	91.0		91.0		—
Intl		—	—	—		—		—
WW		361	189	91.0		91.0		—
OTHER
US		323	329	(1.8	)	(1.8	)	—
Intl		375	396	(5.3	)	(5.1	)	(0.2	)
WW		698	725	(3.7	)	(3.6	)	(0.1	)

TOTAL PHARMACEUTICAL
US		4,613	3,377	36.6		36.6		—
Intl		3,896	3,648	6.8		6.9		(0.1	)
WW	$	8,509	7,025	21.1	%	21.1	%	0.0	%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2014	2013	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES AND DIAGNOSTICS ^{(2) (3)}

CARDIOVASCULAR CARE
US	$	214	204	4.9	%	4.9	%	—	%
Intl		353	325	8.6		8.7		(0.1	)
WW		567	529	7.2		7.3		(0.1	)

DIABETES CARE
US		222	259	(14.3	)	(14.3	)	—
Intl		336	330	1.8		1.8		0.0
WW		558	589	(5.3	)	(5.3	)	0.0

DIAGNOSTICS
US		232	241	(3.7	)	(3.7	)	—
Intl		229	242	(5.4	)	(4.3	)	(1.1	)
WW		461	483	(4.6	)	(4.1	)	(0.5	)

ORTHOPAEDICS
US		1,294	1,274	1.6		1.6		—
Intl		1,175	1,111	5.8		5.3		0.5
WW		2,469	2,385	3.5		3.3		0.2

SPECIALTY SURGERY/OTHER⁽⁵⁾
US		424	426	(0.5	)	(0.5	)	—
Intl		481	464	3.7		4.7		(1.0	)
WW		905	890	1.7		2.2		(0.5	)

SURGICAL CARE
US		551	577	(4.5	)	(4.5	)	—
Intl		1,024	1,011	1.3		1.9		(0.6	)
WW		1,575	1,588	(0.8	)	(0.4	)	(0.4	)

VISION CARE
US		262	262	0.0		0.0		—
Intl		445	468	(4.9	)	(4.0	)	(0.9	)
WW		707	730	(3.2	)	(2.7	)	(0.5	)

TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US		3,199	3,243	(1.4	)	(1.4	)	—
Intl		4,043	3,951	2.3		2.6		(0.3	)
WW	$	7,242	7,194	0.7	%	0.9	%	(0.2	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2014	2013	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	209	209	0.0	%	0.0	%	—	%
Intl		943	941	0.2		5.5		(5.3	)
WW		1,152	1,150	0.2		4.6		(4.4	)

ORAL CARE
US		302	307	(1.6	)	(1.6	)	—
Intl		522	502	4.0		7.2		(3.2	)
WW		824	809	1.9		3.9		(2.0	)

OTC
US		682	644	5.9		5.9		—
Intl		1,332	1,330	0.2		1.7		(1.5	)
WW		2,014	1,974	2.0		3.0		(1.0	)

SKIN CARE
US		963	916	5.1		5.1		—
Intl		919	894	2.8		4.4		(1.6	)
WW		1,882	1,810	4.0		4.8		(0.8	)

WOMEN'S HEALTH
US		35	165	(78.8	)	(78.8	)	—
Intl		634	647	(2.0	)	3.3		(5.3	)
WW		669	812	(17.6	)	(13.4	)	(4.2	)

WOUND CARE/OTHER
US		438	433	1.2		1.2		—
Intl		322	345	(6.7	)	(5.4	)	(1.3	)
WW		760	778	(2.3	)	(1.7	)	(0.6	)

TOTAL CONSUMER
US		2,629	2,674	(1.7	)	(1.7	)	—
Intl		4,672	4,659	0.3		3.3		(3.0	)
WW	$	7,301	7,333	(0.4	)%	1.5	%	(1.9	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2014	2013	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3)}

IMMUNOLOGY
US	$	3,400	3,217	5.7	%	5.7	%	—	%
Intl		1,574	1,228	28.2		31.8		(3.6	)
WW		4,974	4,445	11.9		12.9		(1.0	)
REMICADE
US		2,018	1,896	6.4		6.4		—
US Exports⁽⁴⁾		524	681	(23.1	)	(23.1	)	—
Intl		872	695	25.5		31.0		(5.5	)
WW		3,414	3,272	4.3		5.5		(1.2	)
SIMPONI/SIMPONI ARIA
US		236	181	30.4		30.4		—
Intl		305	231	32.0		34.7		(2.7	)
WW		541	412	31.3		32.8		(1.5	)
STELARA
US		622	459	35.5		35.5		—
Intl		362	258	40.3		39.2		1.1
WW		984	717	37.2		36.8		0.4
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		35	44	(20.5	)	(14.6	)	(5.9	)
WW		35	44	(20.5	)	(14.6	)	(5.9	)

INFECTIOUS DISEASES
US		1,581	497	*		*		—
Intl		1,381	1,288	7.2		6.6		0.6
WW		2,962	1,785	65.9		65.5		0.4
EDURANT
US		11	6	83.3		83.3		—
Intl		162	93	74.2		70.3		3.9
WW		173	99	74.7		71.0		3.7
INCIVO
US		—	—	—		—		—
Intl		183	334	(45.2	)	(44.8	)	(0.4	)
WW		183	334	(45.2	)	(44.8	)	(0.4	)
OLYSIO/SOVRIAD
US		1,016	—	*		*		—
Intl		169	—	*		*		0.0
WW		1,185	—	*		*		0.0
PREZISTA
US		453	363	24.8		24.8		—
Intl		484	439	10.3		9.6		0.7
WW		937	802	16.8		16.4		0.4
OTHER INFECTIOUS DISEASES
US		101	128	(21.1	)	(21.1	)	—
Intl		383	422	(9.2	)	(9.0	)	(0.2	)
WW		484	550	(12.0	)	(11.9	)	(0.1	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2014	2013	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

NEUROSCIENCE
US	$	1,201	1,372	(12.5	)%	(12.5	)%	—	%
Intl		2,064	2,052	0.6		2.5		(1.9	)
WW		3,265	3,424	(4.6	)	(3.5	)	(1.1	)
CONCERTA/METHYLPHENIDATE
US		63	224	(71.9	)	(71.9	)	—
Intl		232	247	(6.1	)	(3.0	)	(3.1	)
WW		295	471	(37.4	)	(35.8	)	(1.6	)
INVEGA
US		175	147	19.0		19.0		—
Intl		148	135	9.6		11.3		(1.7	)
WW		323	282	14.5		15.3		(0.8	)
INVEGA SUSTENNA/XEPLION
US		384	322	19.3		19.3		—
Intl		383	252	52.0		51.0		1.0
WW		767	574	33.6		33.2		0.4
RISPERDAL CONSTA
US		216	213	1.4		1.4		—
Intl		396	458	(13.5	)	(13.4	)	(0.1	)
WW		612	671	(8.8	)	(8.7	)	(0.1	)
OTHER NEUROSCIENCE
US		363	466	(22.1	)	(22.1	)	—
Intl		905	960	(5.7	)	(2.4	)	(3.3	)
WW		1,268	1,426	(11.1	)	(8.9	)	(2.2	)

ONCOLOGY
US		518	405	27.9		27.9		—
Intl		1,615	1,274	26.8		27.1		(0.3	)
WW		2,133	1,679	27.0		27.2		(0.2	)
VELCADE
US		—	—	—		—		—
Intl		811	732	10.8		12.2		(1.4	)
WW		811	732	10.8		12.2		(1.4	)
ZYTIGA
US		464	335	38.5		38.5		—
Intl		610	404	51.0		49.4		1.6
WW		1,074	739	45.3		44.4		0.9
OTHER ONCOLOGY
US		54	70	(22.9	)	(22.9	)	—
Intl		194	138	40.6		40.7		(0.1	)
WW		248	208	19.2		19.2		0.0
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2014	2013	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

TOTAL OTHER
US	$	1,653	1,357	21.8	%	21.8	%	—	%
Intl		1,020	1,103	(7.5	)	(6.7	)	(0.8	)
WW		2,673	2,460	8.7		9.0		(0.3	)
PROCRIT/EPREX
US		354	423	(16.3	)	(16.3	)	—
Intl		275	290	(5.2	)	(5.0	)	(0.2	)
WW		629	713	(11.8	)	(11.7	)	(0.1	)
XARELTO
US		680	347	96.0		96.0		—
Intl		—	—	—		—		—
WW		680	347	96.0		96.0		—
OTHER
US		619	587	5.5		5.5		—
Intl		745	813	(8.4	)	(7.4	)	(1.0	)
WW		1,364	1,400	(2.6	)	(2.0	)	(0.6	)

TOTAL PHARMACEUTICAL
US		8,353	6,848	22.0		22.0		—
Intl		7,654	6,945	10.2		11.6		(1.4	)
WW	$	16,007	13,793	16.1	%	16.8	%	(0.7	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2014	2013	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES AND DIAGNOSTICS ^{(2) (3)}

CARDIOVASCULAR CARE
US	$	419	402	4.2	%	4.2	%	—	%
Intl		689	640	7.7		9.1		(1.4	)
WW		1,108	1,042	6.3		7.2		(0.9	)
DIABETES CARE
US		414	542	(23.6	)	(23.6	)	—
Intl		656	647	1.4		2.4		(1.0	)
WW		1,070	1,189	(10.0	)	(9.5	)	(0.5	)
DIAGNOSTICS
US		456	489	(6.7	)	(6.7	)	—
Intl		448	471	(4.9	)	(2.6	)	(2.3	)
WW		904	960	(5.8	)	(4.7	)	(1.1	)
ORTHOPAEDICS
US		2,586	2,535	2.0		2.0		—
Intl		2,304	2,235	3.1		4.1		(1.0	)
WW		4,890	4,770	2.5		3.0		(0.5	)
SPECIALTY SURGERY /OTHER⁽⁵⁾
US		841	830	1.3		1.3		—
Intl		938	899	4.3		6.8		(2.5	)
WW		1,779	1,729	2.9		4.2		(1.3	)
SURGICAL CARE
US		1,090	1,108	(1.6	)	(1.6	)	—
Intl		1,993	1,988	0.3		2.1		(1.8	)
WW		3,083	3,096	(0.4	)	0.8		(1.2	)
VISION CARE
US		548	543	0.9		0.9		—
Intl		920	927	(0.8	)	2.9		(3.7	)
WW		1,468	1,470	(0.1	)	2.2		(2.3	)

TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US		6,354	6,449	(1.5	)	(1.5	)	—
Intl		7,948	7,807	1.8		3.6		(1.8	)
WW	$	14,302	14,256	0.3	%	1.3	%	(1.0	)%
*Percentage greater than 100%
⁽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⁾Infection Prevention now reflected in Specialty Surgery/Other, previously reported independently

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JOHNSON & JOHNSON - FORM 8-K - EX-99.2O - EXHIBIT - July 15, 2014

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