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

Attached files

file	filename
8-K - 8-K - JOHNSON & JOHNSON	a2014q38kcover.htm
EX-99.15 - EXHIBIT - JOHNSON & JOHNSON	a2014q38kexhibit9915.htm

Exhibit 99.2O



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

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

	2014			2013			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 18,467		100.0	$ 17,575		100.0	5.1
Cost of products sold	5,399		29.2	5,344		30.4	1.0
Selling, marketing and administrative expenses	5,468		29.6	5,314		30.2	2.9
Research and development expense	2,023		11.0	2,042		11.6	(0.9)
In-process research and development	—		—	178		1.0
Interest (income) expense, net	112		0.6	87		0.5
Other (income) expense, net	(1,345)		(7.3)	943		5.4
Earnings before provision for taxes on income	6,810		36.9	3,667		20.9	85.7
Provision for taxes on income	2,061		11.2	685		3.9	200.9
Net earnings	$ 4,749		25.7	$ 2,982		17.0	59.3

Net earnings per share (Diluted)	$ 1.66			$ 1.04			59.6

Average shares outstanding (Diluted)	2,864.3			2,881.2

Effective tax rate	30.3	%		18.7	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 5,660		30.6	$ 4,831		27.5	17.2
Net earnings	$ 4,292		23.2	$ 3,919		22.3	9.5
Net earnings per share (Diluted)	$ 1.50			$ 1.36			10.3
Effective tax rate	24.2	%		18.9	%

⁽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, the Ortho-Clinical Diagnostics divestiture, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	NINE MONTHS

	2014			2013			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 56,077		100.0	$ 52,957		100.0	5.9
Cost of products sold	16,893		30.1	16,387		30.9	3.1
Selling, marketing and administrative expenses	16,132		28.8	15,913		30.0	1.4
Research and development expense	5,859		10.5	5,772		10.9	1.5
In-process research and development	22		0.0	242		0.5
Interest (income) expense, net	344		0.6	292		0.6
Other (income) expense, net	(1,033)		(1.8)	1,630		3.1
Earnings before provision for taxes on income	17,860		31.8	12,721		24.0	40.4
Provision for taxes on income	4,058		7.2	2,409		4.5	68.5
Net earnings	$ 13,802		24.6	$ 10,312		19.5	33.8

Net earnings per share (Diluted)	$ 4.81			$ 3.58			34.4

Average shares outstanding (Diluted)	2,871.2			2,879.0

Effective tax rate	22.7	%		18.9	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 17,270		30.8	$ 15,260		28.8	13.2
Net earnings	$ 13,493		24.1	$ 12,315		23.3	9.6
Net earnings per share (Diluted)	$ 4.70			$ 4.28			9.8
Effective tax rate	21.9	%		19.3	%

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures.

^(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as 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, the Ortho-Clinical Diagnostics divestiture, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

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

Consumer
U.S.	$ 1,173	1,225	(4.2)	%	(4.2)	—
International	2,416	2,386	1.3		2.6	(1.3)
	3,589	3,611	(0.6)		0.3	(0.9)

Pharmaceutical
U.S.	4,723	3,549	33.1		33.1	—
International	3,584	3,487	2.8		4.1	(1.3)
	8,307	7,036	18.1		18.7	(0.6)

Med Devices & Diagnostics
U.S.	2,946	3,151	(6.5)		(6.5)	—
International	3,625	3,777	(4.0)		(2.8)	(1.2)
	6,571	6,928	(5.2)		(4.6)	(0.6)

U.S.	8,842	7,925	11.6		11.6	—
International	9,625	9,650	(0.3)		1.0	(1.3)
Worldwide	$18,467	17,575	5.1	%	5.8	(0.7)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

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

Consumer
U.S.	$ 3,802	3,899	(2.5)	%	(2.5)	—
International	7,088	7,045	0.6		3.0	(2.4)
	10,890	10,944	(0.5)		1.1	(1.6)

Pharmaceutical
U.S.	13,076	10,397	25.8		25.8	—
International	11,238	10,432	7.7		9.1	(1.4)
	24,314	20,829	16.7		17.4	(0.7)

Med Devices & Diagnostics
U.S.	9,300	9,600	(3.1)		(3.1)	—
International	11,573	11,584	(0.1)		1.5	(1.6)
	20,873	21,184	(1.5)		(0.6)	(0.9)

U.S.	26,178	23,896	9.5		9.5	—
International	29,899	29,061	2.9		4.6	(1.7)
Worldwide	$56,077	52,957	5.9	%	6.8	(0.9)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

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

U.S.	$ 8,842	7,925	11.6	%	11.6	—

Europe	4,446	4,478	(0.7)		(0.8)	0.1
Western Hemisphere excluding U.S.	1,820	1,842	(1.2)		3.5	(4.7)
Asia-Pacific, Africa	3,359	3,330	0.9		2.0	(1.1)
International	9,625	9,650	(0.3)		1.0	(1.3)

Worldwide	$18,467	17,575	5.1	%	5.8	(0.7)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

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

U.S.	$26,178	23,896	9.5	%	9.5	—

Europe	14,387	13,631	5.5		3.3	2.2
Western Hemisphere excluding U.S.	5,378	5,530	(2.7)		5.7	(8.4)
Asia-Pacific, Africa	10,134	9,900	2.4		5.8	(3.4)
International	29,899	29,061	2.9		4.6	(1.7)

Worldwide	$56,077	52,957	5.9	%	6.8	(0.9)



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
	Third Quarter				% Incr. /
(Dollars in Millions Except Per Share Data)	2014		2013		(Decr.)

Earnings before provision for taxes on income - as reported	$ 6,810		3,667		85.7	%

Ortho-Clinical Diagnostics divestiture net gain	(1,948	)	—

Litigation expenses	285		872

Additional year of Branded Prescription Drug Fee	220		—

Synthes integration/transaction costs	167		122

In-process research and development	—		178

DePuy ASR^TM Hip program	126		35

Other	—		(43	)

Earnings before provision for taxes on income - as adjusted	$ 5,660		4,831		17.2	%

Net Earnings - as reported	$ 4,749		2,982		59.3	%

Ortho-Clinical Diagnostics divestiture net gain	(1,149	)	—

Litigation expenses	231		720

Additional year of Branded Prescription Drug Fee	220		—

Synthes integration/transaction costs	130		103

In-process research and development	—		126

DePuy ASR^TM Hip program	111		31

Other	—		(43	)

Net Earnings - as adjusted	$ 4,292		3,919		9.5	%

Diluted Net Earnings per share - as reported	$ 1.66		1.04		59.6	%

Ortho-Clinical Diagnostics divestiture net gain	(0.40	)	—

Litigation expenses	0.08		0.25

Additional year of Branded Prescription Drug Fee	0.08		—

Synthes integration/transaction costs	0.04		0.04

In-process research and development	—		0.04

DePuy ASR^TM Hip program	0.04		0.01

Other	—		(0.02	)

Diluted Net Earnings per share - as adjusted	$ 1.50		1.36		10.3	%

The Company believes investors gain additional perspective of underlying business trends and results by providing measures of earnings before provision for taxes on income, net earnings and diluted net earnings per share that exclude special items in order to evaluate ongoing business operations.



Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
	Nine Months YTD			% Incr. /
(Dollars in Millions Except Per Share Data)	2014		2013	(Decr.)

Earnings before provision for taxes on income - as reported	$ 17,860		12,721	40.4	%

Ortho-Clinical Diagnostics divestiture net gain	(1,948)		—

Litigation expenses	561		1,776

Additional year of Branded Prescription Drug Fee	220		—

Synthes integration/transaction costs	429		502

In-process research and development	22		242

DePuy ASR^TM Hip program	126		117

Other	—		(98)

Earnings before provision for taxes on income - as adjusted	$ 17,270		15,260	13.2	%

Net Earnings - as reported	$ 13,802		10,312	33.8	%

Ortho-Clinical Diagnostics divestiture net gain	(1,149)		—

Litigation expenses	573	⁽¹⁾	1,419

Additional year of Branded Prescription Drug Fee	220		—

Synthes integration/transaction costs	318		373

In-process research and development	16		168

DePuy ASR^TM Hip program	111		122

Tax benefit associated with Conor Medsystems	(398)		—

Other	—		(79)

Net Earnings - as adjusted	$ 13,493		12,315	9.6	%

Diluted Net Earnings per share - as reported	$ 4.81		3.58	34.4	%

Ortho-Clinical Diagnostics divestiture net gain	(0.40)		—

Litigation expenses	0.19		0.49

Additional year of Branded Prescription Drug Fee	0.08		—

Synthes integration/transaction costs	0.11		0.13

In-process research and development	0.01		0.06

DePuy ASR^TM Hip program	0.04		0.04

Tax benefit associated with Conor Medsystems	(0.14)		—

Other	—		(0.02)

Diluted Net Earnings per share - as adjusted	$ 4.70		4.28	9.8	%


⁽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 measures of earnings before provision for taxes on income, net earnings and diluted net earnings per share that exclude special items in order to evaluate ongoing business operations.



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

BABY CARE
US	$	102	99	3.0	%	3.0	%	—	%
Intl		461	461	0.0		1.4		(1.4	)
WW		563	560	0.5		1.6		(1.1	)

ORAL CARE
US		148	142	4.2		4.2		—
Intl		261	253	3.2		3.6		(0.4	)
WW		409	395	3.5		3.7		(0.2	)

OTC
US		313	310	1.0		1.0		—
Intl		706	665	6.2		7.9		(1.7	)
WW		1,019	975	4.5		5.7		(1.2	)

SKIN CARE
US		400	404	(1.0	)	(1.0	)	—
Intl		520	520	0.0		0.8		(0.8	)
WW		920	924	(0.4	)	0.0		(0.4	)

WOMEN'S HEALTH
US		8	77	(89.6	)	(89.6	)	—
Intl		317	331	(4.2	)	(1.7	)	(2.5	)
WW		325	408	(20.3	)	(18.3	)	(2.0	)

WOUND CARE/OTHER
US		202	193	4.7		4.7		—
Intl		151	156	(3.2	)	(3.3	)	0.1
WW		353	349	1.1		1.1		0.0

TOTAL CONSUMER
US		1,173	1,225	(4.2	)	(4.2	)	—
Intl		2,416	2,386	1.3		2.6		(1.3	)
WW	$	3,589	3,611	(0.6	)%	0.3	%	(0.9	)%

See footnotes at end of schedule



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

IMMUNOLOGY
US	$	1,895	1,648	15.0	%	15.0	%	—	%
Intl		746	695	7.3		9.4		(2.1	)
WW		2,641	2,343	12.7		13.3		(0.6	)
REMICADE
US		1,085	1,013	7.1		7.1		—
US Exports⁽⁴⁾		310	291	6.5		6.5		—
Intl		387	385	0.5		3.3		(2.8	)
WW		1,782	1,689	5.5		6.1		(0.6	)
SIMPONI/SIMPONI ARIA
US		144	111	29.7		29.7		—
Intl		156	155	0.6		2.3		(1.7	)
WW		300	266	12.8		13.8		(1.0	)
STELARA
US		356	233	52.8		52.8		—
Intl		187	137	36.5		37.2		(0.7	)
WW		543	370	46.8		47.0		(0.2	)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		16	18	(11.1	)	(11.8	)	0.7
WW		16	18	(11.1	)	(11.8	)	0.7

INFECTIOUS DISEASES
US		967	278	*		*		—
Intl		594	543	9.4		9.9		(0.5	)
WW		1,561	821	90.1		90.3		(0.2	)
EDURANT
US		7	4	75.0		75.0		—
Intl		95	60	58.3		57.6		0.7
WW		102	64	59.4		58.8		0.6
INCIVO
US		—	—	—		—		—
Intl		38	76	(50.0	)	(49.1	)	(0.9	)
WW		38	76	(50.0	)	(49.1	)	(0.9	)
OLYSIO/SOVRIAD
US		671	—	*		*		—
Intl		125	—	*		*		0.0
WW		796	—	*		*		0.0
PREZISTA
US		234	215	8.8		8.8		—
Intl		212	195	8.7		8.8		(0.1	)
WW		446	410	8.8		8.9		(0.1	)
OTHER INFECTIOUS DISEASES
US		55	59	(6.8	)	(6.8	)	—
Intl		124	212	(41.5	)	(39.9	)	(1.6	)
WW		179	271	(33.9	)	(32.6	)	(1.3	)

See footnotes at end of schedule



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

NEUROSCIENCE
US	$	606	601	0.8	%	0.8	%	—	%
Intl		965	991	(2.6	)	(1.3	)	(1.3	)
WW		1,571	1,592	(1.3	)	(0.5	)	(0.8	)
CONCERTA/METHYLPHENIDATE
US		34	38	(10.5	)	(10.5	)	—
Intl		101	104	(2.9	)	(0.7	)	(2.2	)
WW		135	142	(4.9	)	(3.3	)	(1.6	)
INVEGA
US		89	82	8.5		8.5		—
Intl		67	65	3.1		4.7		(1.6	)
WW		156	147	6.1		6.8		(0.7	)
INVEGA SUSTENNA/XEPLION
US		215	180	19.4		19.4		—
Intl		188	144	30.6		31.2		(0.6	)
WW		403	324	24.4		24.7		(0.3	)
RISPERDAL CONSTA
US		107	114	(6.1	)	(6.1	)	—
Intl		177	212	(16.5	)	(15.6	)	(0.9	)
WW		284	326	(12.9	)	(12.3	)	(0.6	)
OTHER NEUROSCIENCE
US		161	187	(13.9	)	(13.9	)	—
Intl		432	466	(7.3	)	(5.7	)	(1.6	)
WW		593	653	(9.2	)	(8.1	)	(1.1	)

ONCOLOGY
US		305	227	34.4		34.4		—
Intl		807	754	7.0		8.3		(1.3	)
WW		1,112	981	13.4		14.4		(1.0	)
VELCADE
US		—	—	—		—		—
Intl		389	404	(3.7	)	(2.0	)	(1.7	)
WW		389	404	(3.7	)	(2.0	)	(1.7	)
ZYTIGA
US		252	204	23.5		23.5		—
Intl		316	260	21.5		22.2		(0.7	)
WW		568	464	22.4		22.8		(0.4	)
OTHER ONCOLOGY
US		53	23	*		*		—
Intl		102	90	13.3		14.6		(1.3	)
WW		155	113	37.2		38.3		(1.1	)
See footnotes at end of schedule



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

TOTAL OTHER
US	$	950	795	19.5	%	19.5	%	—	%
Intl		472	504	(6.3	)	(5.3	)	(1.0	)
WW		1,422	1,299	9.5		9.9		(0.4	)
PROCRIT/EPREX
US		184	204	(9.8	)	(9.8	)	—
Intl		123	140	(12.1	)	(11.4	)	(0.7	)
WW		307	344	(10.8	)	(10.5	)	(0.3	)
XARELTO
US		414	246	68.3		68.3		—
Intl		—	—	—		—		—
WW		414	246	68.3		68.3		—
OTHER
US		352	345	2.0		2.0		—
Intl		349	364	(4.1	)	(3.0	)	(1.1	)
WW		701	709	(1.1	)	(0.5	)	(0.6	)

TOTAL PHARMACEUTICAL
US		4,723	3,549	33.1		33.1		—
Intl		3,584	3,487	2.8		4.1		(1.3	)
WW	$	8,307	7,036	18.1	%	18.7	%	(0.6	)%

See footnotes at end of schedule



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

CARDIOVASCULAR CARE
US	$	221	196	12.8	%	12.8	%	—	%
Intl		321	305	5.2		6.6		(1.4	)
WW		542	501	8.2		9.0		(0.8	)

DIABETES CARE
US		244	237	3.0		3.0		—
Intl		314	320	(1.9	)	(0.1	)	(1.8	)
WW		558	557	0.2		1.3		(1.1	)

DIAGNOSTICS⁽⁵⁾
US		—	222	**		**		—
Intl		44	237	(81.4	)	(80.9	)	(0.5	)
WW		44	459	(90.4	)	(90.1	)	(0.3	)

ORTHOPAEDICS
US		1,272	1,232	3.2		3.2		—
Intl		1,072	1,051	2.0		2.4		(0.4	)
WW		2,344	2,283	2.7		2.9		(0.2	)

SPECIALTY SURGERY/OTHER⁽⁶⁾
US		413	412	0.2		0.2		—
Intl		445	434	2.5		4.1		(1.6	)
WW		858	846	1.4		2.2		(0.8	)

SURGICAL CARE
US		564	587	(3.9	)	(3.9	)	—
Intl		957	947	1.1		2.4		(1.3	)
WW		1,521	1,534	(0.8	)	0.0		(0.8	)

VISION CARE
US		232	265	(12.5	)	(12.5	)	—
Intl		472	483	(2.3	)	(0.2	)	(2.1	)
WW		704	748	(5.9	)	(4.5	)	(1.4	)

TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US		2,946	3,151	(6.5	)	(6.5	)	—
Intl		3,625	3,777	(4.0	)	(2.8	)	(1.2	)
WW	$	6,571	6,928	(5.2	)%	(4.6	)%	(0.6	)%

See footnotes at end of schedule



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

BABY CARE
US	$	311	308	1.0	%	1.0	%	—	%
Intl		1,404	1,402	0.1		4.1		(4.0	)
WW		1,715	1,710	0.3		3.6		(3.3	)

ORAL CARE
US		450	449	0.2		0.2		—
Intl		783	755	3.7		5.9		(2.2	)
WW		1,233	1,204	2.4		3.8		(1.4	)

OTC
US		995	954	4.3		4.3		—
Intl		2,038	1,995	2.2		3.8		(1.6	)
WW		3,033	2,949	2.8		3.9		(1.1	)

SKIN CARE
US		1,363	1,320	3.3		3.3		—
Intl		1,439	1,414	1.8		3.1		(1.3	)
WW		2,802	2,734	2.5		3.2		(0.7	)

WOMEN'S HEALTH
US		43	242	(82.2	)	(82.2	)	—
Intl		951	978	(2.8	)	1.5		(4.3	)
WW		994	1,220	(18.5	)	(15.0	)	(3.5	)

WOUND CARE/OTHER
US		640	626	2.2		2.2		—
Intl		473	501	(5.6	)	(4.7	)	(0.9	)
WW		1,113	1,127	(1.2	)	(0.8	)	(0.4	)

TOTAL CONSUMER
US		3,802	3,899	(2.5	)	(2.5	)	—
Intl		7,088	7,045	0.6		3.0		(2.4	)
WW	$	10,890	10,944	(0.5	)%	1.1	%	(1.6	)%

See footnotes at end of schedule



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

IMMUNOLOGY
US	$	5,295	4,865	8.8	%	8.8	%	—	%
Intl		2,320	1,923	20.6		23.6		(3.0	)
WW		7,615	6,788	12.2		13.1		(0.9	)
REMICADE
US		3,103	2,909	6.7		6.7		—
US Exports⁽⁴⁾		834	972	(14.2	)	(14.2	)	—
Intl		1,259	1,080	16.6		21.1		(4.5	)
WW		5,196	4,961	4.7		5.7		(1.0	)
SIMPONI/SIMPONI ARIA
US		380	292	30.1		30.1		—
Intl		461	386	19.4		21.7		(2.3	)
WW		841	678	24.0		25.3		(1.3	)
STELARA
US		978	692	41.3		41.3		—
Intl		549	395	39.0		38.5		0.5
WW		1,527	1,087	40.5		40.3		0.2
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		51	62	(17.7	)	(13.8	)	(3.9	)
WW		51	62	(17.7	)	(13.8	)	(3.9	)

INFECTIOUS DISEASES
US		2,548	775	*		*		—
Intl		1,975	1,831	7.9		8.2		(0.3	)
WW		4,523	2,606	73.6		73.7		(0.1	)
EDURANT
US		18	10	80.0		80.0		—
Intl		257	153	68.0		65.3		2.7
WW		275	163	68.7		66.1		2.6
INCIVO
US		—	—	—		—		—
Intl		221	410	(46.1	)	(45.6	)	(0.5	)
WW		221	410	(46.1	)	(45.6	)	(0.5	)
OLYSIO/SOVRIAD
US		1,687	—	*		*		—
Intl		294	—	*		*		0.0
WW		1,981	—	*		*		0.0
PREZISTA
US		687	578	18.9		18.9		—
Intl		696	634	9.8		9.4		0.4
WW		1,383	1,212	14.1		13.9		0.2
OTHER INFECTIOUS DISEASES
US		156	187	(16.6	)	(16.6	)	—
Intl		507	634	(20.0	)	(19.3	)	(0.7	)
WW		663	821	(19.2	)	(18.7	)	(0.5	)

See footnotes at end of schedule



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

NEUROSCIENCE
US	$	1,807	1,973	(8.4	)%	(8.4	)%	—	%
Intl		3,029	3,043	(0.5	)	1.2		(1.7	)
WW		4,836	5,016	(3.6	)	(2.6	)	(1.0	)
CONCERTA/METHYLPHENIDATE
US		97	262	(63.0	)	(63.0	)	—
Intl		333	351	(5.1	)	(2.3	)	(2.8	)
WW		430	613	(29.9	)	(28.3	)	(1.6	)
INVEGA
US		264	229	15.3		15.3		—
Intl		215	200	7.5		9.1		(1.6	)
WW		479	429	11.7		12.5		(0.8	)
INVEGA SUSTENNA/XEPLION
US		599	502	19.3		19.3		—
Intl		571	396	44.2		43.8		0.4
WW		1170	898	30.3		30.1		0.2
RISPERDAL CONSTA
US		323	327	(1.2	)	(1.2	)	—
Intl		573	670	(14.5	)	(14.1	)	(0.4	)
WW		896	997	(10.1	)	(9.9	)	(0.2	)
OTHER NEUROSCIENCE
US		524	653	(19.8	)	(19.8	)	—
Intl		1,337	1,426	(6.2	)	(3.5	)	(2.7	)
WW		1,861	2,079	(10.5	)	(8.6	)	(1.9	)

ONCOLOGY
US		823	632	30.2		30.2		—
Intl		2,422	2,028	19.4		20.1		(0.7	)
WW		3,245	2,660	22.0		22.5		(0.5	)
VELCADE
US		—	—	—		—		—
Intl		1,200	1,136	5.6		7.1		(1.5	)
WW		1,200	1,136	5.6		7.1		(1.5	)
ZYTIGA
US		716	539	32.8		32.8		—
Intl		926	664	39.5		38.8		0.7
WW		1,642	1,203	36.5		36.1		0.4
OTHER ONCOLOGY
US		107	93	15.1		15.1		—
Intl		296	228	29.8		30.4		(0.6	)
WW		403	321	25.5		25.9		(0.4	)
See footnotes at end of schedule



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

TOTAL OTHER
US	$	2,603	2,152	21.0	%	21.0	%	—	%
Intl		1,492	1,607	(7.2	)	(6.4	)	(0.8	)
WW		4,095	3,759	8.9		9.3		(0.4	)
PROCRIT/EPREX
US		538	627	(14.2	)	(14.2	)	—
Intl		398	430	(7.4	)	(7.1	)	(0.3	)
WW		936	1,057	(11.4	)	(11.3	)	(0.1	)
XARELTO
US		1,094	593	84.5		84.5		—
Intl		—	—	—		—		—
WW		1,094	593	84.5		84.5		—
OTHER
US		971	932	4.2		4.2		—
Intl		1,094	1,177	(7.1	)	(6.1	)	(1.0	)
WW		2,065	2,109	(2.1	)	(1.5	)	(0.6	)

TOTAL PHARMACEUTICAL
US		13,076	10,397	25.8		25.8		—
Intl		11,238	10,432	7.7		9.1		(1.4	)
WW	$	24,314	20,829	16.7	%	17.4	%	(0.7	)%

See footnotes at end of schedule



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

CARDIOVASCULAR CARE
US	$	640	598	7.0	%	7.0	%	—	%
Intl		1,010	945	6.9		8.3		(1.4	)
WW		1,650	1,543	6.9		7.8		(0.9	)
DIABETES CARE
US		658	779	(15.5	)	(15.5	)	—
Intl		970	967	0.3		1.5		(1.2	)
WW		1,628	1,746	(6.8	)	(6.1	)	(0.7	)
DIAGNOSTICS⁽⁵⁾
US		456	711	(35.9	)	(35.9	)	—
Intl		492	708	(30.5	)	(28.8	)	(1.7	)
WW		948	1,419	(33.2	)	(32.4	)	(0.8	)
ORTHOPAEDICS
US		3,858	3,767	2.4		2.4		—
Intl		3,376	3,286	2.7		3.5		(0.8	)
WW		7,234	7,053	2.6		3.0		(0.4	)
SPECIALTY SURGERY /OTHER⁽⁶⁾
US		1,254	1,242	1.0		1.0		—
Intl		1,383	1,333	3.8		6.0		(2.2	)
WW		2,637	2,575	2.4		3.6		(1.2	)
SURGICAL CARE
US		1,654	1,695	(2.4	)	(2.4	)	—
Intl		2,950	2,935	0.5		2.1		(1.6	)
WW		4,604	4,630	(0.6	)	0.4		(1.0	)
VISION CARE
US		780	808	(3.5	)	(3.5	)	—
Intl		1,392	1,410	(1.3	)	1.8		(3.1	)
WW		2,172	2,218	(2.1	)	(0.1	)	(2.0	)

TOTAL MEDICAL DEVICES AND DIAGNOSTICS
US		9,300	9,600	(3.1	)	(3.1	)	—
Intl		11,573	11,584	(0.1	)	1.5		(1.6	)
WW	$	20,873	21,184	(1.5	)%	(0.6	)%	(0.9	)%
*Percentage greater than 100%
**Not meaningful
⁽¹⁾Operational growth excludes the effect of translational currency
⁽²⁾ Unaudited
⁽³⁾ Prior year amounts have been reclassified to conform to current year product disclosure
⁽⁴⁾Reported as U.S. sales
⁽⁵⁾Reflects Diagnostics divestiture June 30, 2014
⁽⁶⁾Infection Prevention now reflected in Specialty Surgery/Other, previously reported independently

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JOHNSON & JOHNSON - FORM 8-K - EX-99.2O - EXHIBIT - October 14, 2014

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