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

Attached files

file	filename
8-K - 8-K - JOHNSON & JOHNSON	a2015q28kcover.htm
EX-99.15 - EXHIBIT 99.15 - JOHNSON & JOHNSON	a2015q28kexhibit9915.htm

Exhibit 99.2O



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

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

	2015			2014			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 17,787		100.0	$ 19,495		100.0	(8.8)
Cost of products sold	5,357		30.1	6,039		31.0	(11.3)
Selling, marketing and administrative expenses	5,384		30.3	5,481		28.1	(1.8)
Research and development expense	2,129		12.0	2,005		10.3	6.2
In-process research and development	—		—	4		0.0
Interest (income) expense, net	107		0.6	114		0.6
Other (income) expense, net	(931)		(5.3)	226		1.1
Earnings before provision for taxes on income	5,741		32.3	5,626		28.9	2.0
Provision for taxes on income	1,225		6.9	1,300		6.7	(5.8)
Net earnings	$ 4,516		25.4	$ 4,326		22.2	4.4

Net earnings per share (Diluted)	$ 1.61			$ 1.51			6.6

Average shares outstanding (Diluted)	2,812.0			2,874.2

Effective tax rate	21.3	%		23.1	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 6,248		35.1	$ 6,524		33.5	(4.2)
Net earnings	$ 4,812		27.1	$ 5,133		26.3	(6.3)
Net earnings per share (Diluted)	$ 1.71			$ 1.78			(3.9)
Effective tax rate	23.0	%		21.3	%

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

^(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

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

	2015			2014			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 35,161		100.0	$ 37,610		100.0	(6.5)
Cost of products sold	10,639		30.2	11,494		30.6	(7.4)
Selling, marketing and administrative expenses	10,231		29.1	10,664		28.3	(4.1)
Research and development expense	4,028		11.5	3,836		10.2	5.0
In-process research and development	—		—	22		0.1
Interest (income) expense, net	226		0.6	232		0.6
Other (income) expense, net	(1,279)		(3.6)	312		0.8
Earnings before provision for taxes on income	11,316		32.2	11,050		29.4	2.4
Provision for taxes on income	2,480		7.1	1,997		5.3	24.2
Net earnings	$ 8,836		25.1	$ 9,053		24.1	(2.4)

Net earnings per share (Diluted)	$ 3.13			$ 3.15			(0.6)

Average shares outstanding (Diluted)	2,821.0			2,875.5

Effective tax rate	21.9	%		18.1	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 11,878		33.8	$ 12,452		33.1	(4.6)
Net earnings	$ 9,230		26.3	$ 9,826		26.1	(6.1)
Net earnings per share (Diluted)	$ 3.27			$ 3.41			(4.1)
Effective tax rate	22.3	%		21.1	%

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

^(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, the effects of an acquisition, the Ortho-Clinical Diagnostics divestiture, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER
			Percent Change
	2015	2014	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,355	1,320	2.7	%	2.7	—
International	2,128	2,424	(12.2)		2.1	(14.3)
	3,483	3,744	(7.0)		2.3	(9.3)

Pharmaceutical
U.S.	4,543	4,613	(1.5)		(1.5)	—
International	3,403	3,896	(12.7)		3.8	(16.5)
	7,946	8,509	(6.6)		1.0	(7.6)

Medical Devices
U.S.	3,013	3,199	(5.8)		(5.8)	—
International	3,345	4,043	(17.3)		(3.9)	(13.4)
	6,358	7,242	(12.2)		(4.7)	(7.5)

U.S.	8,911	9,132	(2.4)		(2.4)	—
International	8,876	10,363	(14.3)		0.5	(14.8)
Worldwide	$ 17,787	19,495	(8.8)	%	(0.9)	(7.9)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SIX MONTHS
			Percent Change
	2015	2014	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 2,714	2,629	3.2	%	3.2	—
International	4,159	4,672	(11.0)		2.6	(13.6)
	6,873	7,301	(5.9)		2.8	(8.7)

Pharmaceutical
U.S.	8,914	8,353	6.7		6.7	—
International	6,758	7,654	(11.7)		3.8	(15.5)
	15,672	16,007	(2.1)		5.3	(7.4)

Medical Devices
U.S.	5,975	6,354	(6.0)		(6.0)	—
International	6,641	7,948	(16.4)		(3.5)	(12.9)
	12,616	14,302	(11.8)		(4.6)	(7.2)

U.S.	17,603	17,336	1.5		1.5	—
International	17,558	20,274	(13.4)		0.6	(14.0)
Worldwide	$ 35,161	37,610	(6.5)	%	1.1	(7.6)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SECOND QUARTER
			Percent Change
	2015	2014	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 8,911	9,132	(2.4)	%	(2.4)	—

Europe	4,151	5,056	(17.9)		1.0	(18.9)
Western Hemisphere excluding U.S.	1,501	1,863	(19.4)		(4.0)	(15.4)
Asia-Pacific, Africa	3,224	3,444	(6.4)		2.2	(8.6)
International	8,876	10,363	(14.3)		0.5	(14.8)

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



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	SIX MONTHS
			Percent Change
	2015	2014	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 17,603	17,336	1.5	%	1.5	—

Europe	8,191	9,941	(17.6)		0.7	(18.3)
Western Hemisphere excluding U.S.	3,140	3,558	(11.7)		2.6	(14.3)
Asia-Pacific, Africa	6,227	6,775	(8.1)		(0.4)	(7.7)
International	17,558	20,274	(13.4)		0.6	(14.0)

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



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

	Second Quarter			% Incr. /
(Dollars in Millions Except Per Share Data)	2015	2014		(Decr.)

Earnings before provision for taxes on income - as reported	$ 5,741	5,626		2.0	%

Intangible asset amortization expense	318	474

Litigation expense/(gain), net	134	276

Synthes integration costs	49	144

DePuy ASR™ Hip program	9	—

In-process research and development	—	4

Ortho-Clinical Diagnostics divestiture net gain	(3)	—

Earnings before provision for taxes on income - as adjusted	$ 6,248	6,524		(4.2)	%

Net Earnings - as reported	$ 4,516	4,326		4.4	%

Intangible asset amortization expense	230	358

Litigation expense/(gain), net	23	342	(1)

Synthes integration costs	37	104

DePuy ASR™ Hip program	8	—

In-process research and development	—	3

Tax benefit associated with Conor Medsystems	—	—

Ortho-Clinical Diagnostics divestiture net gain	(2)	—

Net Earnings - as adjusted	$ 4,812	5,133		(6.3)	%

Diluted Net Earnings per share - as reported	$ 1.61	1.51		6.6	%

Intangible asset amortization expense	0.08	0.12

Litigation expense/(gain), net	0.01	0.12

Synthes integration costs	0.01	0.03

DePuy ASR™ Hip program	—	—

In-process research and development	—	—

Tax benefit associated with Conor Medsystems	—	—

Ortho-Clinical Diagnostics divestiture net gain	—	—

Diluted Net Earnings per share - as adjusted	$ 1.71	1.78		(3.9)	%

Operational Diluted Net Earnings per share - as adjusted*	$ 1.90	1.78		6.7	%

*Excludes the effect of translational currency

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



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

	Six Months YTD		% Incr. /
(Dollars in Millions Except Per Share Data)	2015	2014	(Decr.)

Earnings before provision for taxes on income - as reported	$ 11,316	11,050	2.4	%

Intangible asset amortization expense	630	842

Litigation expense/(gain), net	(268)	276

Synthes integration costs	81	262

DePuy ASR™ Hip program	148	—

In-process research and development	—	22

Ortho-Clinical Diagnostics divestiture net gain	(29)	—

Earnings before provision for taxes on income - as adjusted	$ 11,878	12,452	(4.6)	%

Net Earnings - as reported	$ 8,836	9,053	(2.4)	%

Intangible asset amortization expense	456	625

Litigation expense/(gain), net	(230)	342

Synthes integration costs	62	188

DePuy ASR™ Hip program	130	—

In-process research and development	—	16

Tax benefit associated with Conor Medsystems	—	(398)

Ortho-Clinical Diagnostics divestiture net gain	(24)	—

Net Earnings - as adjusted	$ 9,230	9,826	(6.1)	%

Diluted Net Earnings per share - as reported	$ 3.13	3.15	(0.6)	%

Intangible asset amortization expense	0.16	0.21

Litigation expense/(gain), net	(0.08)	0.12

Synthes integration costs	0.02	0.06

DePuy ASR™ Hip program	0.05	—

In-process research and development	—	0.01

Tax benefit associated with Conor Medsystems	—	(0.14)

Ortho-Clinical Diagnostics divestiture net gain	(0.01)	—

Diluted Net Earnings per share - as adjusted	$ 3.27	3.41	(4.1)	%

Operational Diluted Net Earnings per share - as adjusted*	$ 3.59	3.41	5.3	%

*Excludes the effect of translational currency



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

Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C ^{(1) (A)}
SECOND QUARTER 2015 ACTUAL vs. 2014 ACTUAL


Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational % ⁽²⁾
WW As Reported:	2.3%	1.0%	(4.7)%	(0.9)%
U.S.	2.7%	(1.5)%	(5.8)%	(2.4)%
International	2.1%	3.8%	(3.9)%	0.5%

Wound Care / Other
BENECOL ^®	0.8			0.1
U.S.	0.0			0.0
International	1.1			0.2

Diagnostics
Ortho-Clinical Diagnostics			6.1	2.3
U.S.			7.4	2.5
International			5.3	2.0

Other Neuroscience
NUCYNTA ^®		0.5		0.2
U.S.		0.9		0.5
International		0.1		0.0

All Other Acquisitions and Divestitures	0.0			0.0
U.S.	0.2			0.0
International	0.0			0.0

WW Ops excluding Acquisitions and Divestitures	3.1%	1.5%	1.4%	1.7%
U.S.	2.9%	(0.6)%	1.6%	0.6%
International	3.2%	3.9%	1.4%	2.7%

Hepatitis C		8.2		3.3
U.S.		17.1		7.8
International		(1.4)		(0.6)

WW Ops excluding Acquisitions, Divestitures and Hepatitis C	3.1%	9.7%	1.4%	5.0%
U.S.	2.9%	16.5%	1.6%	8.4%
International	3.2%	2.5%	1.4%	2.1%


⁽¹⁾ Hepatitis C includes OLYSIO ^® /SOVRIAD ^® and INCIVO ^®
⁽²⁾ Operational growth excludes the effect of translational currency

^(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C” is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the magnitude of hepatitis C product sales over a short timeframe and the variable nature of acquisitions and divestitures and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



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

Operational Sales Growth Excluding Acquisitions, Divestitures and Hepatitis C ^{(1) (A)}
SIX MONTHS 2015 ACTUAL vs. 2014 ACTUAL


Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational % ⁽²⁾
WW As Reported:	2.8%	5.3%	(4.6)%	1.1%
U.S.	3.2%	6.7%	(6.0)%	1.5%
International	2.6%	3.8%	(3.5)%	0.6%

Women's Health
K-Y ^®	0.5			0.1
U.S.	0.8			0.1
International	0.3			0.1

Wound Care / Other
BENECOL ^®	0.7			0.1
U.S.	0.0			0.0
International	1.1			0.3

Diagnostics
Ortho-Clinical Diagnostics			6.0	2.3
U.S.			7.3	2.8
International			4.9	2.0

Other Neuroscience
NUCYNTA ^®		0.3		0.1
U.S.		0.6		0.2
International		0.0		0.0

All Other Acquisitions and Divestitures	(0.1)			0.0
U.S.	0.0			0.0
International	(0.2)			(0.1)

WW Ops excluding Acquisitions and Divestitures	3.9%	5.6%	1.4%	3.7%
U.S.	4.0%	7.3%	1.3%	4.6%
International	3.8%	3.8%	1.4%	2.9%

Hepatitis C		5.7		2.2
U.S.		12.8		5.4
International		(1.2)		(0.5)

WW Ops excluding Acquisitions, Divestitures and Hepatitis C	3.9%	11.3%	1.4%	5.9%
U.S.	4.0%	20.1%	1.3%	10.0%
International	3.8%	2.6%	1.4%	2.4%

⁽¹⁾ Hepatitis C includes OLYSIO ^® /SOVRIAD ^® and INCIVO ^®
⁽²⁾ Operational growth excludes the effect of translational currency

^(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions, divestitures and hepatitis C” is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the magnitude of hepatitis C product sales over a short timeframe and the variable nature of acquisitions and divestitures and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2015	2014	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	104	107	(2.8	)%	(2.8	)%	—	%
Intl		439	500	(12.2	)	(1.0	)	(11.2	)
WW		543	607	(10.5	)	(1.2	)	(9.3	)

ORAL CARE
US		147	142	3.5		3.5		—
Intl		244	271	(10.0	)	5.0		(15.0	)
WW		391	413	(5.3	)	4.5		(9.8	)

OTC
US		366	316	15.8		15.8		—
Intl		608	687	(11.5	)	4.7		(16.2	)
WW		974	1,003	(2.9	)	8.2		(11.1	)

SKIN CARE
US		491	506	(3.0	)	(3.0	)	—
Intl		403	462	(12.8	)	1.2		(14.0	)
WW		894	968	(7.6	)	(0.9	)	(6.7	)

WOMEN'S HEALTH
US		7	11	(36.4	)	(36.4	)	—
Intl		313	331	(5.4	)	11.4		(16.8	)
WW		320	342	(6.4	)	9.9		(16.3	)

WOUND CARE/OTHER
US		240	238	0.8		0.8		—
Intl		121	173	(30.1	)	(19.2	)	(10.9	)
WW		361	411	(12.2	)	(7.6	)	(4.6	)

TOTAL CONSUMER
US		1,355	1,320	2.7		2.7		—
Intl		2,128	2,424	(12.2	)	2.1		(14.3	)
WW	$	3,483	3,744	(7.0	)%	2.3	%	(9.3	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2015	2014	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3)}

IMMUNOLOGY
US	$	1,876	1,853	1.2	%	1.2	%	—	%
Intl		678	778	(12.9	)	3.4		(16.3	)
WW		2,554	2,631	(2.9	)	1.9		(4.8	)
REMICADE
US		1,088	1,021	6.6		6.6		—
US Exports⁽⁴⁾		241	357	(32.5	)	(32.5	)	—
Intl		339	426	(20.4	)	(6.6	)	(13.8	)
WW		1,668	1,804	(7.5	)	(4.2	)	(3.3	)
SIMPONI / SIMPONI ARIA
US		172	132	30.3		30.3		—
Intl		136	150	(9.3	)	9.2		(18.5	)
WW		308	282	9.2		19.1		(9.9	)
STELARA
US		375	343	9.3		9.3		—
Intl		195	185	5.4		26.5		(21.1	)
WW		570	528	8.0		15.4		(7.4	)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		8	17	(52.9	)	(44.7	)	(8.2	)
WW		8	17	(52.9	)	(44.7	)	(8.2	)

INFECTIOUS DISEASES
US		381	1020	(62.6	)	(62.6	)	—
Intl		651	742	(12.3	)	7.2		(19.5	)
WW		1,032	1,762	(41.4	)	(33.2	)	(8.2	)
EDURANT
US		9	6	50.0		50.0		—
Intl		92	86	7.0		32.1		(25.1	)
WW		101	92	9.8		33.2		(23.4	)
OLYSIO / SOVRIAD
US		50	725	(93.1	)	(93.1	)	—
Intl		214	106	*		*		**
WW		264	831	(68.2	)	(62.5	)	(5.7	)
PREZISTA / PREZCOBIX
US		258	239	7.9		7.9		—
Intl		190	253	(24.9	)	(7.7	)	(17.2	)
WW		448	492	(8.9	)	(0.1	)	(8.8	)
OTHER INFECTIOUS DISEASES
US		64	50	28.0		28.0		—
Intl		155	297	(47.8	)	(36.9	)	(10.9	)
WW		219	347	(36.9	)	(27.5	)	(9.4	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2015	2014	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

NEUROSCIENCE
US	$	693	600	15.5	%	15.5	%	—	%
Intl		871	1,027	(15.2	)	(0.2	)	(15.0	)
WW		1,564	1,627	(3.9	)	5.6		(9.5	)
CONCERTA / METHYLPHENIDATE
US		102	28	*		*		—
Intl		104	117	(11.1	)	2.7		(13.8	)
WW		206	145	42.1		53.3		(11.2	)
INVEGA
US		105	89	18.0		18.0		—
Intl		61	69	(11.6	)	3.7		(15.3	)
WW		166	158	5.1		11.8		(6.7	)
INVEGA SUSTENNA / XEPLION
US		253	202	25.2		25.2		—
Intl		183	192	(4.7	)	14.6		(19.3	)
WW		436	394	10.7		20.1		(9.4	)
RISPERDAL CONSTA
US		99	110	(10.0	)	(10.0	)	—
Intl		148	192	(22.9	)	(6.5	)	(16.4	)
WW		247	302	(18.2	)	(7.8	)	(10.4	)
OTHER NEUROSCIENCE
US		134	171	(21.6	)	(21.6	)	—
Intl		375	457	(17.9	)	(5.1	)	(12.8	)
WW		509	628	(18.9	)	(9.6	)	(9.3	)

ONCOLOGY
US		362	278	30.2		30.2		—
Intl		782	833	(6.1	)	12.8		(18.9	)
WW		1,144	1,111	3.0		17.2		(14.2	)
IMBRUVICA
US		89	33	*		*		—
Intl		65	9	*		*		**
WW		154	42	*		*		**
VELCADE
US		—	—	—		—		—
Intl		344	403	(14.6	)	1.1		(15.7	)
WW		344	403	(14.6	)	1.1		(15.7	)
ZYTIGA
US		255	235	8.5		8.5		—
Intl		291	327	(11.0	)	8.6		(19.6	)
WW		546	562	(2.8	)	8.6		(11.4	)
OTHER ONCOLOGY
US		18	10	80.0		80.0		—
Intl		82	94	(12.8	)	5.3		(18.1	)
WW		100	104	(3.8	)	12.5		(16.3	)
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2015	2014	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER⁽⁵⁾
US	$	1,231	862	42.8	%	42.8	%	—	%
Intl		421	516	(18.4	)	(6.6	)	(11.8	)
WW		1,652	1,378	19.9		24.3		(4.4	)
XARELTO
US		472	361	30.7		30.7		—
Intl		—	—	—		—		—
WW		472	361	30.7		30.7		—
INVOKANA / INVOKAMET
US		302	114	*		*		—
Intl		16	3	*		*		**
WW		318	117	*		*		**
PROCRIT / EPREX
US		179	178	0.6		0.6		—
Intl		97	141	(31.2	)	(18.7	)	(12.5	)
WW		276	319	(13.5	)	(8.0	)	(5.5	)
OTHER
US		278	209	33.0		33.0		—
Intl		308	372	(17.2	)	(6.3	)	(10.9	)
WW		586	581	0.9		7.9		(7.0	)

TOTAL PHARMACEUTICAL
US		4,543	4,613	(1.5	)	(1.5	)	—
Intl		3,403	3,896	(12.7	)	3.8		(16.5	)
WW	$	7,946	8,509	(6.6	)%	1.0	%	(7.6	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2015	2014	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES ⁽²⁾

CARDIOVASCULAR CARE
US	$	235	214	9.8	%	9.8	%	—	%
Intl		309	353	(12.5	)	1.7		(14.2	)
WW		544	567	(4.1	)	4.7		(8.8	)

DIABETES CARE
US		214	222	(3.6	)	(3.6	)	—
Intl		280	336	(16.7	)	(1.2	)	(15.5	)
WW		494	558	(11.5	)	(2.1	)	(9.4	)

DIAGNOSTICS⁽⁶⁾
US		—	232	**		**		—
Intl		16	229	(93.0	)	(90.1	)	(2.9	)
WW		16	461	(96.5	)	(95.0	)	(1.5	)

ORTHOPAEDICS
US		1,321	1,294	2.1		2.1		—
Intl		1,009	1,175	(14.1	)	(0.4	)	(13.7	)
WW		2,330	2,469	(5.6	)	0.9		(6.5	)

SPECIALTY SURGERY / OTHER
US		438	424	3.3		3.3		—
Intl		441	481	(8.3	)	5.6		(13.9	)
WW		879	905	(2.9	)	4.5		(7.4	)

SURGICAL CARE
US		562	551	2.0		2.0		—
Intl		887	1,024	(13.4	)	0.0		(13.4	)
WW		1,449	1,575	(8.0	)	0.7		(8.7	)

VISION CARE
US		243	262	(7.3	)	(7.3	)	—
Intl		403	445	(9.4	)	6.0		(15.4	)
WW		646	707	(8.6	)	1.1		(9.7	)

TOTAL MEDICAL DEVICES
US		3,013	3,199	(5.8	)	(5.8	)	—
Intl		3,345	4,043	(17.3	)	(3.9	)	(13.4	)
WW	$	6,358	7,242	(12.2	)%	(4.7	)%	(7.5	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2015	2014	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT⁽²⁾

BABY CARE
US	$	215	209	2.9	%	2.9	%	—	%
Intl		839	943	(11.0	)	(0.9	)	(10.1	)
WW		1,054	1,152	(8.5	)	(0.2	)	(8.3	)

ORAL CARE
US		305	302	1.0		1.0		—
Intl		489	522	(6.3	)	6.9		(13.2	)
WW		794	824	(3.6	)	4.7		(8.3	)

OTC
US		771	682	13.0		13.0		—
Intl		1,196	1,332	(10.2	)	6.8		(17.0	)
WW		1,967	2,014	(2.3	)	9.0		(11.3	)

SKIN CARE
US		983	963	2.1		2.1		—
Intl		814	919	(11.4	)	1.4		(12.8	)
WW		1,797	1,882	(4.5	)	1.8		(6.3	)

WOMEN'S HEALTH
US		13	35	(62.9	)	(62.9	)	—
Intl		594	634	(6.3	)	8.6		(14.9	)
WW		607	669	(9.3	)	4.8		(14.1	)

WOUND CARE/OTHER
US		427	438	(2.5	)	(2.5	)	—
Intl		227	322	(29.5	)	(19.4	)	(10.1	)
WW		654	760	(13.9	)	(9.6	)	(4.3	)

TOTAL CONSUMER
US		2,714	2,629	3.2		3.2		—
Intl		4,159	4,672	(11.0	)	2.6		(13.6	)
WW	$	6,873	7,301	(5.9	)%	2.8	%	(8.7	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2015	2014	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3)}

IMMUNOLOGY
US	$	3,631	3,400	6.8	%	6.8	%	—	%
Intl		1,386	1,574	(11.9	)	3.4		(15.3	)
WW		5,017	4,974	0.9		5.7		(4.8	)
REMICADE
US		2,143	2,018	6.2		6.2		—
US Exports⁽⁴⁾		422	524	(19.5	)	(19.5	)	—
Intl		703	872	(19.4	)	(6.4	)	(13.0	)
WW		3,268	3,414	(4.3	)	(1.0	)	(3.3	)
SIMPONI / SIMPONI ARIA
US		327	236	38.6		38.6		—
Intl		281	305	(7.9	)	9.5		(17.4	)
WW		608	541	12.4		22.2		(9.8	)
STELARA
US		739	622	18.8		18.8		—
Intl		380	362	5.0		24.6		(19.6	)
WW		1,119	984	13.7		20.9		(7.2	)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		22	35	(37.1	)	(28.7	)	(8.4	)
WW		22	35	(37.1	)	(28.7	)	(8.4	)

INFECTIOUS DISEASES
US		793	1,581	(49.8	)	(49.8	)	—
Intl		1,214	1,381	(12.1	)	5.9		(18.0	)
WW		2,007	2,962	(32.2	)	(23.8	)	(8.4	)
EDURANT
US		18	11	63.6		63.6		—
Intl		174	162	7.4		31.4		(24.0	)
WW		192	173	11.0		33.4		(22.4	)
OLYSIO / SOVRIAD
US		148	1,016	(85.4	)	(85.4	)	—
Intl		350	169	*		*		**
WW		498	1,185	(58.0	)	(51.7	)	(6.3	)
PREZISTA / PREZCOBIX
US		492	453	8.6		8.6		—
Intl		383	484	(20.9	)	(4.8	)	(16.1	)
WW		875	937	(6.6	)	1.7		(8.3	)
OTHER INFECTIOUS DISEASES
US		135	101	33.7		33.7		—
Intl		307	566	(45.8	)	(35.8	)	(10.0	)
WW		442	667	(33.7	)	(25.2	)	(8.5	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2015	2014	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

NEUROSCIENCE
US	$	1,443	1,201	20.1	%	20.1	%	—	%
Intl		1,739	2,064	(15.7	)	(1.7	)	(14.0	)
WW		3,182	3,265	(2.5	)	6.4		(8.9	)
CONCERTA / METHYLPHENIDATE
US		228	63	*		*		—
Intl		202	232	(12.9	)	(0.3	)	(12.6	)
WW		430	295	45.8		55.7		(9.9	)
INVEGA
US		199	175	13.7		13.7		—
Intl		122	148	(17.6	)	(2.9	)	(14.7	)
WW		321	323	(0.6	)	6.1		(6.7	)
INVEGA SUSTENNA / XEPLION
US		481	384	25.3		25.3		—
Intl		366	383	(4.4	)	13.6		(18.0	)
WW		847	767	10.4		19.4		(9.0	)
RISPERDAL CONSTA
US		203	216	(6.0	)	(6.0	)	—
Intl		298	396	(24.7	)	(9.8	)	(14.9	)
WW		501	612	(18.1	)	(8.5	)	(9.6	)
OTHER NEUROSCIENCE
US		332	363	(8.5	)	(8.5	)	—
Intl		751	905	(17.0	)	(4.8	)	(12.2	)
WW		1,083	1,268	(14.6	)	(5.9	)	(8.7	)

ONCOLOGY
US		696	518	34.4		34.4		—
Intl		1,556	1,615	(3.7	)	14.1		(17.8	)
WW		2,252	2,133	5.6		19.1		(13.5	)
IMBRUVICA
US		155	39	*		*		—
Intl		115	13	*		*		**
WW		270	52	*		*		**
VELCADE
US		—	—	—		—		—
Intl		683	811	(15.8	)	(1.5	)	(14.3	)
WW		683	811	(15.8	)	(1.5	)	(14.3	)
ZYTIGA
US		508	464	9.5		9.5		—
Intl		594	610	(2.6	)	16.8		(19.4	)
WW		1,102	1,074	2.6		13.6		(11.0	)
OTHER ONCOLOGY
US		33	15	*		*		—
Intl		164	181	(9.4	)	7.6		(17.0	)
WW		197	196	0.5		16.1		(15.6	)
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2015	2014	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER⁽⁵⁾
US	$	2,351	1,653	42.2	%	42.2	%	—	%
Intl		863	1,020	(15.4	)	(3.7	)	(11.7	)
WW		3,214	2,673	20.2		24.6		(4.4	)
XARELTO
US		913	680	34.3		34.3		—
Intl		—	—	—		—		—
WW		913	680	34.3		34.3		—
INVOKANA / INVOKAMET
US		568	207	*		*		—
Intl		28	4	*		*		**
WW		596	211	*		*		**
PROCRIT / EPREX
US		342	354	(3.4	)	(3.4	)	—
Intl		203	275	(26.2	)	(13.3	)	(12.9	)
WW		545	629	(13.4	)	(7.7	)	(5.7	)
OTHER
US		528	412	28.2		28.2		—
Intl		632	741	(14.7	)	(4.0	)	(10.7	)
WW		1,160	1,153	0.6		7.5		(6.9	)

TOTAL PHARMACEUTICAL
US		8,914	8,353	6.7		6.7		—
Intl		6,758	7,654	(11.7	)	3.8		(15.5	)
WW	$	15,672	16,007	(2.1	)%	5.3	%	(7.4	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2015	2014	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES ⁽²⁾

CARDIOVASCULAR CARE
US	$	463	419	10.5	%	10.5	%	—	%
Intl		610	689	(11.5	)	2.5		(14.0	)
WW		1,073	1,108	(3.2	)	5.5		(8.7	)

DIABETES CARE
US		426	414	2.9		2.9		—
Intl		552	656	(15.9	)	(0.3	)	(15.6	)
WW		978	1,070	(8.6	)	0.9		(9.5	)

DIAGNOSTICS⁽⁶⁾
US		—	456	**		**		—
Intl		46	448	(89.7	)	(86.8	)	(2.9	)
WW		46	904	(94.9	)	(93.5	)	(1.4	)

ORTHOPAEDICS
US		2,630	2,586	1.7		1.7		—
Intl		2,028	2,304	(12.0	)	1.2		(13.2	)
WW		4,658	4,890	(4.7	)	1.5		(6.2	)

SPECIALTY SURGERY / OTHER
US		855	841	1.7		1.7		—
Intl		857	938	(8.6	)	4.6		(13.2	)
WW		1,712	1,779	(3.8	)	3.2		(7.0	)

SURGICAL CARE
US		1,105	1,090	1.4		1.4		—
Intl		1,767	1,993	(11.3	)	1.5		(12.8	)
WW		2,872	3,083	(6.8	)	1.5		(8.3	)

VISION CARE
US		496	548	(9.5	)	(9.5	)	—
Intl		781	920	(15.1	)	(1.0	)	(14.1	)
WW		1,277	1,468	(13.0	)	(4.1	)	(8.9	)

TOTAL MEDICAL DEVICES
US		5,975	6,354	(6.0	)	(6.0	)	—
Intl		6,641	7,948	(16.4	)	(3.5	)	(12.9	)
WW	$	12,616	14,302	(11.8	)%	(4.6	)%	(7.2	)%

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

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JOHNSON & JOHNSON - FORM 8-K - EX-99.2O - EXHIBIT 99.2O - July 14, 2015

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