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

Attached files

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EX-99.15 - EXHIBIT 99.15 - JOHNSON & JOHNSON	a8k2017q3exhibit9915.htm
8-K - 8-K - JOHNSON & JOHNSON	a8-k2017q3.htm

Exhibit 99.2O



Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

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

	2017			2016			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 19,650		100.0	$ 17,820		100.0	10.3
Cost of products sold	6,902		35.1	5,486		30.8	25.8
Selling, marketing and administrative expenses	5,396		27.5	4,772		26.8	13.1
Research and development expense	2,574		13.1	2,178		12.2	18.2
Interest (income) expense, net	155		0.8	95		0.5
Other (income) expense, net	(236)		(1.2)	(54)		(0.2)
Restructuring	69		0.3	62		0.3
Earnings before provision for taxes on income	4,790		24.4	5,281		29.6	(9.3)
Provision for taxes on income	1,026		5.2	1,009		5.6	1.7
Net earnings	$ 3,764		19.2	$ 4,272		24.0	(11.9)

Net earnings per share (Diluted)	$ 1.37			$ 1.53			(10.5)

Average shares outstanding (Diluted)	2,737.7			2,785.4

Effective tax rate	21.4	%		19.1	%

Adjusted earnings before provision for taxes and net earnings^{(1) (A)}
Earnings before provision for taxes on income	$ 6,573		33.5	$ 5,831		32.7	12.7
Net earnings	$ 5,208		26.5	$ 4,683		26.3	11.2
Net earnings per share (Diluted)	$ 1.90			$ 1.68			13.1
Effective tax rate	20.8	%		19.7	%

⁽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, 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

	2017			2016			Percent
			Percent			Percent	Increase
	Amount		to Sales	Amount		to Sales	(Decrease)
Sales to customers	$ 56,255		100.0	$ 53,784		100.0	4.6
Cost of products sold	18,111		32.2	16,151		30.0	12.1
Selling, marketing and administrative expenses	15,395		27.4	14,636		27.2	5.2
Research and development expense	6,919		12.3	6,455		12.0	7.2
In-process research and development	—		—	29		0.1
Interest (income) expense, net	360		0.6	274		0.5
Other (income) expense, net	192		0.3	464		0.9
Restructuring	165		0.3	296		0.5
Earnings before provision for taxes on income	15,113		26.9	15,479		28.8	(2.4)
Provision for taxes on income	3,100		5.5	2,753		5.1	12.6
Net earnings	$ 12,013		21.4	$ 12,726		23.7	(5.6)

Net earnings per share (Diluted)	$ 4.37			$ 4.55			(4.0)

Average shares outstanding (Diluted)	2,746.4			2,796.6

Effective tax rate	20.5	%		17.8	%

Adjusted earnings before provision for taxes and net earnings ^{(1) (A)}
Earnings before provision for taxes on income	$ 18,961		33.7	$ 17,656		32.8	7.4
Net earnings	$ 15,263		27.1	$ 14,403		26.8	6.0
Net earnings per share (Diluted)	$ 5.56			$ 5.15			8.0
Effective tax rate	19.5	%		18.4	%

⁽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, 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
	2017	2016	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 1,285	$ 1,291	(0.5)	%	(0.5)	—
International	2,071	1,970	5.1		3.0	2.1
	3,356	3,261	2.9		1.6	1.3

Pharmaceutical
U.S.	5,816	5,042	15.4		15.4	—
International	3,879	3,358	15.5		13.5	2.0
	9,695	8,400	15.4		14.6	0.8

Medical Devices
U.S.	3,189	3,048	4.6		4.6	—
International	3,410	3,111	9.6		8.6	1.0
	6,599	6,159	7.1		6.6	0.5

U.S.	10,290	9,381	9.7		9.7	—
International	9,360	8,439	10.9		9.3	1.6
Worldwide	$ 19,650	$ 17,820	10.3	%	9.5	0.8



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	NINE MONTHS
			Percent Change
	2017	2016	Total		Operations	Currency
Sales to customers by
segment of business

Consumer
U.S.	$ 4,186	$ 4,033	3.8	%	3.8	—
International	5,876	5,842	0.6		0.2	0.4
	10,062	9,875	1.9		1.6	0.3

Pharmaceutical
U.S.	15,698	15,123	3.8		3.8	—
International	10,877	10,109	7.6		8.4	(0.8)
	26,575	25,232	5.3		5.6	(0.3)

Medical Devices
U.S.	9,510	9,118	4.3		4.3	—
International	10,108	9,559	5.7		6.3	(0.6)
	19,618	18,677	5.0		5.3	(0.3)

U.S.	29,394	28,274	4.0		4.0	—
International	26,861	25,510	5.3		5.8	(0.5)
Worldwide	$ 56,255	$ 53,784	4.6	%	4.8	(0.2)



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	THIRD QUARTER
			Percent Change
	2017	2016	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 10,290	$ 9,381	9.7	%	9.7	—

Europe	4,308	3,832	12.4		7.9	4.5
Western Hemisphere excluding U.S.	1,569	1,396	12.4		10.1	2.3
Asia-Pacific, Africa	3,483	3,211	8.5		10.6	(2.1)
International	9,360	8,439	10.9		9.3	1.6

Worldwide	$ 19,650	$ 17,820	10.3	%	9.5	0.8



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	NINE MONTHS
			Percent Change
	2017	2016	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$ 29,394	$ 28,274	4.0	%	4.0	—

Europe	12,398	11,769	5.3		6.2	(0.9)
Western Hemisphere excluding U.S.	4,522	4,269	5.9		3.1	2.8
Asia-Pacific, Africa	9,941	9,472	5.0		6.4	(1.4)
International	26,861	25,510	5.3		5.8	(0.5)

Worldwide	$ 56,255	$ 53,784	4.6	%	4.8	(0.2)



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

	Third Quarter		% Incr. /
(Dollars in Millions Except Per Share Data)	2017	2016	(Decr.)

Earnings before provision for taxes on income - as reported	$ 4,790	5,281	(9.3)	%

Intangible asset amortization expense	1,077	319

Litigation expense, net	118	55

Restructuring/Other ⁽¹⁾	187	109

Actelion acquisition related cost	367	—

Diabetes asset impairment	(2)	—

AMO acquisition related cost	36	—

Other	—	67

Earnings before provision for taxes on income - as adjusted	$ 6,573	5,831	12.7	%

Net Earnings - as reported	$ 3,764	4,272	(11.9)	%

Intangible asset amortization expense	933	236

Litigation expense, net	97	46

Restructuring/Other	136	76

Actelion acquisition related cost	255	—

Diabetes asset impairment	(5)	—

AMO acquisition related cost	28	—

Other	—	53

Net Earnings - as adjusted	$ 5,208	4,683	11.2	%

Diluted Net Earnings per share - as reported	$ 1.37	1.53	(10.5)	%

Intangible asset amortization expense	0.34	0.08

Litigation expense, net	0.04	0.02

Restructuring/Other	0.05	0.03

Actelion acquisition related cost	0.09	—

Diabetes asset impairment	—	—

AMO acquisition related cost	0.01	—

Other	—	0.02

Diluted Net Earnings per share - as adjusted	$ 1.90	1.68	13.1	%

Operational Diluted Net Earnings per share - as adjusted at 2015 foreign currency exchange rates		1.68

Impact of currency at 2016 foreign currency exchange rates	(0.05)	—

Operational Diluted Net Earnings per share - as adjusted at 2016 foreign currency exchange rates	$ 1.85	1.68	10.1	%


⁽¹⁾ Includes $29M recorded in cost of products sold and $89M recorded in other (income) expense for the third quarter 2017. Includes $3M recorded in cost of products sold and $44M recorded in other (income) expense for the third quarter 2016.



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

	Nine Months YTD			% Incr. /
(Dollars in Millions Except Per Share Data)	2017	2016		(Decr.)

Earnings before provision for taxes on income - as reported	$ 15,113	15,479		(2.4)	%

Intangible asset amortization expense	1,886	927

Litigation expense, net	611	721

Restructuring/Other ⁽¹⁾	476	387

Actelion acquisition related cost	580	—

Diabetes asset impairment	180	—

AMO acquisition related cost	115	—

In-process research and development	—	29

Other	—	113

Earnings before provision for taxes on income - as adjusted	$ 18,961	17,656		7.4	%

Net Earnings - as reported	$ 12,013	12,726		(5.6)	%

Intangible asset amortization expense	1,555	679

Litigation expense, net	449	595

Restructuring/Other	358	293

Actelion acquisition related cost	454	—

Diabetes asset impairment	120	—

AMO acquisition related cost	314	—

In-process research and development	—	23

Other	—	87

Net Earnings - as adjusted	$ 15,263	14,403		6.0	%

Diluted Net Earnings per share - as reported	$ 4.37	4.55		(4.0)	%

Intangible asset amortization expense	0.57	0.24

Litigation expense, net	0.16	0.21

Restructuring/Other	0.14	0.11

Actelion acquisition related cost	0.16	—

Diabetes asset impairment	0.05	—

AMO acquisition related cost	0.11	—

In-process research and development	—	0.01

Other	—	0.03

Diluted Net Earnings per share - as adjusted	$ 5.56	5.15		8.0	%

Operational Diluted Net Earnings per share - as adjusted at 2015 foreign currency exchange rates		5.19

Impact of currency at 2016 foreign currency exchange rates	0.01	(0.04	)

Operational Diluted Net Earnings per share - as adjusted at 2016 foreign currency exchange rates	$ 5.57	5.15		8.2	%

⁽¹⁾ Includes $46M recorded in cost of products sold and $265M recorded in other (income) expense for nine months 2017 YTD. Includes $27M recorded in cost of products sold and $64M recorded in other (income) expense for nine months 2016 YTD.



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

Operational Sales Growth Excluding Acquisitions and Divestitures ^(A)
THIRD QUARTER 2017 ACTUAL vs. 2016 ACTUAL


Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational %⁽¹⁾
WW As Reported:	1.6%	14.6%	6.6%	9.5%
U.S.	(0.5)%	15.4%	4.6%	9.7%
International	3.0%	13.5%	8.6%	9.3%

Beauty
Dr. Ci: Labo	(0.6)			(0.1)
U.S.	0.0			0.0
International	(1.0)			(0.2)

Vision Care
Abbott Medical Optics			(5.2)	(1.8)
U.S.			(4.6)	(1.5)
International			(5.7)	(2.1)

Pulmonary Hypertension
Actelion		(7.9)		(3.7)
U.S.		(7.7)		(4.1)
International		(8.4)		(3.3)


All Other Acquisitions and Divestitures	0.1		(0.2)	(0.1)
U.S.	(0.2)		(0.8)	(0.3)
International	0.3		0.3	0.1

WW Ops excluding Acquisitions and Divestitures	1.1%	6.7%	1.2%	3.8%
U.S.	(0.7)%	7.7%	(0.8)%	3.8%
International	2.3%	5.1%	3.2%	3.8%

⁽¹⁾ Operational growth excludes the effect of translational currency

^(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions and divestitures" 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 Measure

Operational Sales Growth Excluding Acquisitions and Divestitures ^(A)
NINE MONTHS 2017 ACTUAL vs. 2016 ACTUAL

Segments

	Consumer	Pharmaceutical	Medical Devices	Total
	Operational %⁽¹⁾
WW As Reported:	1.6%	5.6%	5.3%	4.8%
U.S.	3.8%	3.8%	4.3%	4.0%
International	0.2%	8.4%	6.3%	5.8%

Beauty
Vogue	(1.9)			(0.4)
U.S.	(4.1)			(0.6)
International	(0.5)			(0.1)

Other Neuroscience
Controlled Substance Raw Material and API Business		0.5		0.2
U.S.		0.6		0.3
International		0.3		0.1

Diagnostics
Ortho-Clinical Diagnostics			0.4	0.1
U.S.			0.0	0.0
International			0.8	0.3

Beauty
Dr. Ci: Labo	(0.3)			(0.1)
U.S.	0.0			0.0
International	(0.5)			(0.1)

Vision Care
Abbott Medical Optics			(4.1)	(1.4)
U.S.			(3.7)	(1.2)
International			(4.6)	(1.7)

Pulmonary Hypertension
Actelion		(3.0)		(1.4)
U.S.		(2.8)		(1.5)
International		(3.3)		(1.3)

All Other Acquisitions and Divestitures	(0.1)		(0.3)	0.0
U.S.	(0.4)		(0.7)	(0.3)
International	0.2		0.2	0.0

WW Ops excluding Acquisitions and Divestitures	(0.7)%	3.1%	1.3%	1.8%
U.S.	(0.7)%	1.6%	(0.1)%	0.7%
International	(0.6)%	5.4%	2.7%	3.0%

⁽¹⁾ Operational growth excludes the effect of translational currency

^(A) NON-GAAP FINANCIAL MEASURE “Operational sales growth excluding the net impact of acquisitions and divestitures" 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)
		THIRD QUARTER
				% Change
		2017	2016	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT^{(2) (3)}

BABY CARE
US	$	100	118	(15.3	)%	(15.3	)%	—	%
Intl		377	377	0.0		0.0		0.0
WW		477	495	(3.6	)	(3.6	)	0.0

BEAUTY
US		523	517	1.2		1.2		—
Intl		510	462	10.4		8.0		2.4
WW		1,033	979	5.5		4.4		1.1

ORAL CARE
US		154	156	(1.3	)	(1.3	)	—
Intl		228	227	0.4		(1.4	)	1.8
WW		382	383	(0.3	)	(1.3	)	1.0

OTC
US		401	386	3.9		3.9		—
Intl		601	557	7.9		4.7		3.2
WW		1,002	943	6.3		4.4		1.9

WOMEN'S HEALTH
US		3	3	0.0		0.0		—
Intl		267	266	0.4		(1.9	)	2.3
WW		270	269	0.4		(1.8	)	2.2

WOUND CARE/OTHER
US		104	111	(6.3	)	(6.3	)	—
Intl		88	81	8.6		5.9		2.7
WW		192	192	0.0		(1.2	)	1.2

TOTAL CONSUMER
US		1,285	1,291	(0.5	)	(0.5	)	—
Intl		2,071	1,970	5.1		3.0		2.1
WW	$	3,356	3,261	2.9	%	1.6	%	1.3	%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		THIRD QUARTER
				% Change
		2017	2016	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3)}

IMMUNOLOGY
US	$	2,420	2,294	5.5	%	5.5	%	—	%
Intl		849	790	7.5		4.9		2.6
WW		3,269	3,084	6.0		5.3		0.7
REMICADE
US		1,206	1,222	(1.3	)	(1.3	)	—
US Exports⁽⁴⁾		156	255	(38.8	)	(38.8	)	—
Intl		285	306	(6.9	)	(10.2	)	3.3
WW		1,647	1,783	(7.6	)	(8.2	)	0.6
SIMPONI / SIMPONI ARIA
US		242	256	(5.5	)	(5.5	)	—
Intl		234	225	4.0		3.2		0.8
WW		476	481	(1.0	)	(1.4	)	0.4
STELARA
US		800	561	42.6		42.6		—
Intl		324	253	28.1		24.7		3.4
WW		1,124	814	38.1		37.0		1.1
OTHER IMMUNOLOGY
US		16	—	*		*		—
Intl		6	6	0.0		0.0		0.0
WW		22	6	*		*		0.0

INFECTIOUS DISEASES
US		353	387	(8.8	)	(8.8	)	—
Intl		460	455	1.1		(2.3	)	3.4
WW		813	842	(3.4	)	(5.3	)	1.9
EDURANT
US		15	13	15.4		15.4		—
Intl		179	136	31.6		26.0		5.6
WW		194	149	30.2		25.1		5.1
PREZISTA / PREZCOBIX / REZOLSTA
US		287	310	(7.4	)	(7.4	)	—
Intl		180	183	(1.6	)	(5.5	)	3.9
WW		467	493	(5.3	)	(6.7	)	1.4
OTHER INFECTIOUS DISEASES
US		51	64	(20.3	)	(20.3	)	—
Intl		101	136	(25.7	)	(26.4	)	0.7
WW		152	200	(24.0	)	(24.5	)	0.5

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		THIRD QUARTER
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

NEUROSCIENCE
US	$	647	622	4.0	%	4.0	%	—	%
Intl		851	842	1.1		0.6		0.5
WW		1,498	1,464	2.3		2.0		0.3
CONCERTA / METHYLPHENIDATE
US		100	102	(2.0	)	(2.0	)	—
Intl		98	88	11.4		10.5		0.9
WW		198	190	4.2		3.8		0.4
INVEGA SUSTENNA / XEPLION / TRINZA
US		395	339	16.5		16.5		—
Intl		248	217	14.3		11.0		3.3
WW		643	556	15.6		14.3		1.3
RISPERDAL CONSTA
US		87	94	(7.4	)	(7.4	)	—
Intl		107	128	(16.4	)	(18.0	)	1.6
WW		194	222	(12.6	)	(13.5	)	0.9
OTHER NEUROSCIENCE
US		65	87	(25.3	)	(25.3	)	—
Intl		398	409	(2.7	)	(1.4	)	(1.3	)
WW		463	496	(6.7	)	(5.6	)	(1.1	)

ONCOLOGY
US		846	622	36.0		36.0		—
Intl		1,052	895	17.5		15.2		2.3
WW		1,898	1,517	25.1		23.8		1.3
DARZALEX
US		230	124	85.5		85.5		—
Intl		87	39	*		*		*
WW		317	163	94.5		92.0		2.5
IMBRUVICA
US		230	179	28.5		28.5		—
Intl		282	170	65.9		61.8		4.1
WW		512	349	46.7		44.7		2.0
VELCADE
US		—	—	—		—		—
Intl		273	304	(10.2	)	(11.2	)	1.0
WW		273	304	(10.2	)	(11.2	)	1.0
ZYTIGA
US		352	282	24.8		24.8		—
Intl		317	300	5.7		4.4		1.3
WW		669	582	14.9		14.2		0.7
OTHER ONCOLOGY
US		34	37	(8.1	)	(8.1	)	—
Intl		93	82	13.4		11.1		2.3
WW		127	119	6.7		5.1		1.6
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		THIRD QUARTER
				% Change
		2017	2016	Reported	Operational ⁽¹⁾	Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

PULMONARY HYPERTENSION ⁽⁵⁾
US	$	387	—	*	*	—
Intl		283	—	*	*	—
WW		670	—	*	*	—
OPSUMIT
US		150	—	*	*	—
Intl		109	—	*	*	—
WW		259	—	*	*	—
TRACLEER
US		83	—	*	*	—
Intl		127	—	*	*	—
WW		210	—	*	*	—
UPTRAVI
US		113	—	*	*	—
Intl		11	—	*	*	—
WW		124	—	*	*	—
OTHER
US		41	—	*	*	—
Intl		36	—	*	*	—
WW		77	—	*	*	—


See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		THIRD QUARTER
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER
US	$	1,163	1,117	4.1	%	4.1	%	—	%
Intl		384	376	2.1		1.0		1.1
WW		1,547	1,493	3.6		3.3		0.3
XARELTO
US		635	529	20.0		20.0		—
Intl		—	—	—		—		—
WW		635	529	20.0		20.0		—
INVOKANA / INVOKAMET
US		220	294	(25.2	)	(25.2	)	—
Intl		45	34	32.4		31.6		0.8
WW		265	328	(19.2	)	(19.3	)	0.1
PROCRIT / EPREX
US		168	168	0.0		0.0		—
Intl		70	82	(14.6	)	(17.6	)	3.0
WW		238	250	(4.8	)	(5.8	)	1.0
OTHER
US		140	126	11.1		11.1		—
Intl		269	260	3.5		2.9		0.6
WW		409	386	6.0		5.6		0.4

TOTAL PHARMACEUTICAL
US		5,816	5,042	15.4		15.4		—
Intl		3,879	3,358	15.5		13.5		2.0
WW	$	9,695	8,400	15.4	%	14.6	%	0.8	%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		THIRD QUARTER
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ⁽²⁾

CARDIOVASCULAR
US	$	261	235	11.1	%	11.1	%	—	%
Intl		245	216	13.4		13.9		(0.5	)
WW		506	451	12.2		12.5		(0.3	)

DIABETES CARE
US		168	191	(12.0	)	(12.0	)	—
Intl		237	236	0.4		(2.6	)	3.0
WW		405	427	(5.2	)	(6.9	)	1.7

DIAGNOSTICS
US		—	—	—		—		—
Intl		—	7	*		*		*
WW		—	7	*		*		*

ORTHOPAEDICS
US		1,326	1,343	(1.3	)	(1.3	)	—
Intl		925	908	1.9		0.0		1.9
WW		2,251	2,251	0.0		(0.8	)	0.8

HIPS
US		195	190	2.6		2.6		—
Intl		133	130	2.3		(0.1	)	2.4
WW		328	320	2.5		1.5		1.0

KNEES
US		220	223	(1.3	)	(1.3	)	—
Intl		123	132	(6.8	)	(9.5	)	2.7
WW		343	355	(3.4	)	(4.4	)	1.0

TRAUMA
US		398	389	2.3		2.3		—
Intl		264	248	6.5		4.6		1.9
WW		662	637	3.9		3.1		0.8

SPINE & OTHER
US		513	541	(5.2	)	(5.2	)	—
Intl		405	398	1.8		0.3		1.5
WW		918	939	(2.2	)	(2.8	)	0.6

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		THIRD QUARTER
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ^{(2) (Continued)}

SURGERY
US	$	1,002	1,002	0.0	%	0.0	%	—	%
Intl		1,344	1,282	4.8		3.7		1.1
WW		2,346	2,284	2.7		2.1		0.6

ADVANCED
US		398	390	2.1		2.1		—
Intl		525	494	6.3		5.3		1.0
WW		923	884	4.4		3.9		0.5

GENERAL
US		430	414	3.9		3.9		—
Intl		675	649	4.0		2.8		1.2
WW		1,105	1,063	4.0		3.2		0.8

SPECIALTY
US		174	198	(12.1	)	(12.1	)	—
Intl		144	139	3.6		2.8		0.8
WW		318	337	(5.6	)	(5.9	)	0.3

VISION CARE
US		432	277	56.0		56.0		—
Intl		659	462	42.6		43.9		(1.3	)
WW		1,091	739	47.6		48.4		(0.8	)

CONTACT LENSES / OTHER
US		302	277	9.0		9.0		—
Intl		498	462	7.8		9.1		(1.3	)
WW		800	739	8.3		9.1		(0.8	)
SURGICAL
US		130	—	*		*		—
Intl		161	—	*		*		—
WW		291	—	*		*		—

TOTAL MEDICAL DEVICES
US		3,189	3,048	4.6		4.6		—
Intl		3,410	3,111	9.6		8.6		1.0
WW	$	6,599	6,159	7.1	%	6.6	%	0.5	%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported		Operational⁽¹⁾		Currency
CONSUMER SEGMENT^{(2) (3)}

BABY CARE
US	$	326	365	(10.7	)%	(10.7	)%	—	%
Intl		1,100	1,143	(3.8	)	(3.8	)	0.0
WW		1,426	1,508	(5.4	)	(5.4	)	0.0

BEAUTY
US		1,739	1,555	11.8		11.8		—
Intl		1,351	1,279	5.6		5.4		0.2
WW		3,090	2,834	9.0		8.9		0.1

ORAL CARE
US		460	485	(5.2	)	(5.2	)	—
Intl		678	686	(1.2	)	(1.6	)	0.4
WW		1,138	1,171	(2.8	)	(3.0	)	0.2

OTC
US		1,310	1,257	4.2		4.2		—
Intl		1,711	1,681	1.8		1.4		0.4
WW		3,021	2,938	2.8		2.6		0.2

WOMEN'S HEALTH
US		9	16	(43.8	)	(43.8	)	—
Intl		779	787	(1.0	)	(2.6	)	1.6
WW		788	803	(1.9	)	(3.5	)	1.6

WOUND CARE/OTHER
US		342	355	(3.7	)	(3.7	)	—
Intl		257	266	(3.4	)	(4.0	)	0.6
WW		599	621	(3.5	)	(3.8	)	0.3

TOTAL CONSUMER
US		4,186	4,033	3.8		3.8		—
Intl		5,876	5,842	0.6		0.2		0.4
WW	$	10,062	9,875	1.9	%	1.6	%	0.3	%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported		Operational⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3)}

IMMUNOLOGY
US	$	6,644	6,689	(0.7	)%	(0.7	)%	—	%
Intl		2,514	2,343	7.3		7.3		0.0
WW		9,158	9,032	1.4		1.4		0.0
REMICADE
US		3,452	3,669	(5.9	)	(5.9	)	—
US Exports⁽⁴⁾		448	673	(33.4	)	(33.4	)	—
Intl		949	1,000	(5.1	)	(5.9	)	0.8
WW		4,849	5,342	(9.2	)	(9.4	)	0.2
SIMPONI / SIMPONI ARIA
US		701	716	(2.1	)	(2.1	)	—
Intl		642	603	6.5		6.6		(0.1	)
WW		1,343	1,319	1.8		1.9		(0.1	)
STELARA
US		2,027	1,631	24.3		24.3		—
Intl		903	722	25.1		26.1		(1.0	)
WW		2,930	2,353	24.5		24.8		(0.3	)
OTHER IMMUNOLOGY
US		16	—	*		*		—
Intl		20	18	11.1		9.4		1.7
WW		36	18	100.0		98.3		1.7

INFECTIOUS DISEASES
US		1,020	1,107	(7.9	)	(7.9	)	—
Intl		1,334	1,340	(0.4	)	(0.4	)	0.0
WW		2,354	2,447	(3.8	)	(3.8	)	0.0
EDURANT
US		44	38	15.8		15.8		—
Intl		478	370	29.2		28.9		0.3
WW		522	408	27.9		27.7		0.2
PREZISTA / PREZCOBIX / REZOLSTA
US		824	860	(4.2	)	(4.2	)	—
Intl		527	544	(3.1	)	(2.7	)	(0.4	)
WW		1,351	1,404	(3.8	)	(3.7	)	(0.1	)
OTHER INFECTIOUS DISEASES
US		152	209	(27.3	)	(27.3	)	—
Intl		329	426	(22.8	)	(23.1	)	0.3
WW		481	635	(24.3	)	(24.5	)	0.2

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

NEUROSCIENCE
US	$	1,931	1,997	(3.3	)%	(3.3	)%	—	%
Intl		2,531	2,618	(3.3	)	(2.2	)	(1.1	)
WW		4,462	4,615	(3.3	)	(2.7	)	(0.6	)
CONCERTA / METHYLPHENIDATE
US		284	365	(22.2	)	(22.2	)	—
Intl		304	294	3.4		4.1		(0.7	)
WW		588	659	(10.8	)	(10.5	)	(0.3	)
INVEGA SUSTENNA / XEPLION / TRINZA
US		1,154	983	17.4		17.4		—
Intl		722	646	11.8		12.8		(1.0	)
WW		1,876	1,629	15.2		15.6		(0.4	)
RISPERDAL CONSTA
US		273	289	(5.5	)	(5.5	)	—
Intl		335	394	(15.0	)	(14.0	)	(1.0	)
WW		608	683	(11.0	)	(10.4	)	(0.6	)
OTHER NEUROSCIENCE
US		220	360	(38.9	)	(38.9	)	—
Intl		1,170	1,284	(8.9	)	(7.7	)	(1.2	)
WW		1,390	1,644	(15.5	)	(14.5	)	(1.0	)

ONCOLOGY
US		2,207	1,740	26.8		26.8		—
Intl		3,012	2,605	15.6		16.8		(1.2	)
WW		5,219	4,345	20.1		20.8		(0.7	)
DARZALEX
US		643	320	*		*		—
Intl		228	52	*		*		*
WW		871	372	*		*		*
IMBRUVICA
US		622	455	36.7		36.7		—
Intl		749	450	66.4		67.7		(1.3	)
WW		1,371	905	51.5		52.1		(0.6	)
VELCADE
US		—	—	—		—		—
Intl		843	950	(11.3	)	(9.8	)	(1.5	)
WW		843	950	(11.3	)	(9.8	)	(1.5	)
ZYTIGA
US		826	840	(1.7	)	(1.7	)	—
Intl		924	901	2.6		3.5		(0.9	)
WW		1,750	1,741	0.5		1.0		(0.5	)
OTHER ONCOLOGY
US		116	125	(7.2	)	(7.2	)	—
Intl		268	252	6.3		7.3		(1.0	)
WW		384	377	1.9		2.6		(0.7	)
See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported	Operational ⁽¹⁾	Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

PULMONARY HYPERTENSION ⁽⁵⁾
US	$	427	—	*	*	—
Intl		334	—	*	*	—
WW		761	—	*	*	—
OPSUMIT
US		174	—	*	*	—
Intl		130	—	*	*	—
WW		304	—	*	*	—
TRACLEER
US		85	—	*	*	—
Intl		151	—	*	*	—
WW		236	—	*	*	—
UPTRAVI
US		121	—	*	*	—
Intl		12	—	*	*	—
WW		133	—	*	*	—
OTHER
US		47	—	*	*	—
Intl		41	—	*	*	—
WW		88	—	*	*	—


See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
PHARMACEUTICAL SEGMENT^{(2) (3) (Continued)}

CARDIOVASCULAR / METABOLISM / OTHER
US	$	3,469	3,590	(3.4	)%	(3.4	)%	—	%
Intl		1,152	1,203	(4.2	)	(2.2	)	(2.0	)
WW		4,621	4,793	(3.6	)	(3.1	)	(0.5	)
XARELTO
US		1,790	1,690	5.9		5.9		—
Intl		—	—	—		—		—
WW		1,790	1,690	5.9		5.9		—
INVOKANA / INVOKAMET
US		723	939	(23.0	)	(23.0	)	—
Intl		121	97	24.7		26.5		(1.8	)
WW		844	1,036	(18.5	)	(18.3	)	(0.2	)
PROCRIT / EPREX
US		511	581	(12.0	)	(12.0	)	—
Intl		229	265	(13.6	)	(13.3	)	(0.3	)
WW		740	846	(12.5	)	(12.4	)	(0.1	)
OTHER
US		445	380	17.1		17.1		—
Intl		802	841	(4.6	)	(2.1	)	(2.5	)
WW		1,247	1,221	2.1		3.8		(1.7	)

TOTAL PHARMACEUTICAL
US		15,698	15,123	3.8		3.8		—
Intl		10,877	10,109	7.6		8.4		(0.8	)
WW	$	26,575	25,232	5.3	%	5.6	%	(0.3	)%

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ⁽²⁾

CARDIOVASCULAR
US	$	785	701	12.0	%	12.0	%	—	%
Intl		743	663	12.1		13.5		(1.4	)
WW		1,528	1,364	12.0		12.7		(0.7	)

DIABETES CARE
US		482	548	(12.0	)	(12.0	)	—
Intl		743	779	(4.6	)	(4.6	)	0.0
WW		1,225	1,327	(7.7	)	(7.7	)	0.0

DIAGNOSTICS
US		—	—	—		—		—
Intl		1	66	*		*		*
WW		1	66	*		*		*

ORTHOPAEDICS
US		4,092	4,099	(0.2	)	(0.2	)	—
Intl		2,827	2,848	(0.7	)	(0.2	)	(0.5	)
WW		6,919	6,947	(0.4	)	(0.2	)	(0.2	)

HIPS
US		612	590	3.7		3.7		—
Intl		418	421	(0.7	)	(0.1	)	(0.6	)
WW		1,030	1,011	1.9		2.2		(0.3	)

KNEES
US		702	696	0.9		0.9		—
Intl		424	433	(2.1	)	(1.4	)	(0.7	)
WW		1,126	1,129	(0.3	)	0.0		(0.3	)

TRAUMA
US		1,179	1,151	2.4		2.4		—
Intl		768	764	0.5		0.8		(0.3	)
WW		1,947	1,915	1.7		1.8		(0.1	)

SPINE & OTHER
US		1,599	1,662	(3.8	)	(3.8	)	—
Intl		1,217	1,230	(1.1	)	(0.5	)	(0.6	)
WW		2,816	2,892	(2.6	)	(2.3	)	(0.3	)

See footnotes at end of schedule



Johnson & Johnson
Segment Sales
(Dollars in Millions)
		NINE MONTHS
				% Change
		2017	2016	Reported		Operational ⁽¹⁾		Currency
MEDICAL DEVICES SEGMENT ^{(2) (Continued)}

SURGERY
US	$	3,009	3,003	0.2	%	0.2	%	—	%
Intl		3,992	3,906	2.2		2.9		(0.7	)
WW		7,001	6,909	1.3		1.7		(0.4	)

ADVANCED
US		1,190	1,131	5.2		5.2		—
Intl		1,543	1,478	4.4		5.4		(1.0	)
WW		2,733	2,609	4.8		5.3		(0.5	)

GENERAL
US		1,276	1,254	1.8		1.8		—
Intl		2,017	2,006	0.5		1.1		(0.6	)
WW		3,293	3,260	1.0		1.4		(0.4	)

SPECIALTY
US		543	618	(12.1	)	(12.1	)	—
Intl		432	422	2.4		2.1		0.3
WW		975	1,040	(6.3	)	(6.4	)	0.1

VISION CARE
US		1,142	767	48.9		48.9		—
Intl		1,802	1,297	38.9		39.8		(0.9	)
WW		2,944	2,064	42.6		43.2		(0.6	)

CONTACT LENSES / OTHER
US		832	767	8.5		8.5		—
Intl		1,404	1,297	8.2		9.1		(0.9	)
WW		2,236	2,064	8.3		8.9		(0.6	)
SURGICAL
US		310	—	*		*		—
Intl		398	—	*		*		—
WW		708	—	*		*		—

TOTAL MEDICAL DEVICES
US		9,510	9,118	4.3		4.3		—
Intl		10,108	9,559	5.7		6.3		(0.6	)
WW	$	19,618	18,677	5.0	%	5.3	%	(0.3	)%

* Percentage greater than 100% or 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⁾ Actelion acquisition completed June 16, 2017

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JOHNSON & JOHNSON - FORM 8-K - EX-99.2O - EXHIBIT 99.2O - October 17, 2017

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