JOHNSON & JOHNSON First Quarter 2024
Other Financial Disclosures
Table of Contents
Table 1: Sales by Segment | 1 |
Table 2: Sales by Geographic Area | 2 |
Table 3: Sales of Key Products/Franchises | 3 - 7 |
Table 3a: Supplemental Sales Reconciliation | 8 |
Table 4: Condensed Consolidated Statement of Earnings - QTD | 9 |
Table 5: Non-GAAP Adjusted Operational Sales Growth - QTD | 10 |
Table 6: Non-GAAP Adjusted Net Earnings | 11 |
Table 7: Non-GAAP IBT and R&D Expense by Segment - QTD | 12 |
Table 8: Non-GAAP P&L Reconciliation | 13 |
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) | FIRST QUARTER | ||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Sales to customers by | |||||||
segment of business | |||||||
Innovative Medicine (1) | |||||||
U.S. | 7,612 | 7,023 | 8.4 | 8.4 | - | ||
International | 5,950 | 6,390 | (6.9) | (4.0) | (2.9) | ||
13,562 | 13,413 | 1.1 | 2.5 | (1.4) | |||
Innovative Medicine excluding COVID-19 Vaccine (1) | |||||||
U.S. | 7,612 | 7,023 | 8.4 | 8.4 | - | ||
International | 5,925 | 5,643 | 5.0 | 8.3 | (3.3) | ||
13,537 | 12,666 | 6.9 | 8.3 | (1.4) | |||
MedTech | |||||||
U.S. | 4,008 | 3,759 | 6.6 | 6.6 | - | ||
International | 3,813 | 3,722 | 2.4 | 6.1 | (3.7) | ||
7,821 | 7,481 | 4.5 | 6.3 | (1.8) | |||
U.S. | 11,620 | 10,782 | 7.8 | 7.8 | - | ||
International | 9,763 | 10,112 | (3.4) | (0.3) | (3.1) | ||
Worldwide | 21,383 | 20,894 | 2.3 | 3.9 | (1.6) | ||
U.S. | 11,620 | 10,782 | 7.8 | 7.8 | - | ||
International | 9,738 | 9,365 | 4.0 | 7.4 | (3.4) | ||
Worldwide excluding COVID-19 Vaccine (1) | $ | 21,358 | 20,147 | 6.0 | % | 7.6 | (1.6) |
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
- Refer to supplemental sales information schedules
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) | FIRST QUARTER | ||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Sales to customers by | |||||||
geographic area | |||||||
U.S. | $ | 11,620 | 10,782 | 7.8 | % | 7.8 | - |
Europe | 5,163 | 5,590 | (7.6) | (7.7) | 0.1 | ||
Western Hemisphere excluding U.S. | 1,194 | 1,076 | 11.0 | 21.3 | (10.3) | ||
Asia-Pacific, Africa | 3,406 | 3,446 | (1.1) | 5.0 | (6.1) | ||
International | 9,763 | 10,112 | (3.4) | (0.3) | (3.1) | ||
Worldwide | $ | 21,383 | 20,894 | 2.3 | % | 3.9 | (1.6) |
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) | FIRST QUARTER | ||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Sales to customers by | |||||||
geographic area (ex. COVID-19 Vaccine) | |||||||
U.S.* | $ | 11,620 | 10,782 | 7.8 | % | 7.8 | - |
Europe(1) | 5,138 | 4,843 | 6.1 | 6.0 | 0.1 | ||
Western Hemisphere excluding U.S.* | 1,194 | 1,076 | 11.0 | 21.3 | (10.3) | ||
Asia-Pacific, Africa* | 3,406 | 3,446 | (1.1) | 5.0 | (6.1) | ||
International | 9,738 | 9,365 | 4.0 | 7.4 | (3.4) | ||
Worldwide | $ | 21,358 | 20,147 | 6.0 | % | 7.6 | (1.6) |
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
- Refer to supplemental sales information schedules *No COVID-19 Vaccine sales
INNOVATIVE MEDICINE SEGMENT (2)
IMMUNOLOGY
US
Intl
WW
REMICADE
US
US Exports (3)
Intl
WW
SIMPONI / SIMPONI ARIA
US
Intl
WW
STELARA
US
Intl
WW
TREMFYA
US
Intl
WW
OTHER IMMUNOLOGY
US
Intl
WW
INFECTIOUS DISEASES
US
Intl
WW
COVID-19 VACCINE
US
Intl
WW
EDURANT / rilpivirine
US
Intl
WW
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZAUS
Intl
WW
OTHER INFECTIOUS DISEASES
US
Intl
WW
REPORTED SALES vs. PRIOR PERIOD ($MM)
FIRST QUARTER | ||||||||
% Change | ||||||||
2024 | 2023 | Reported | Operational (1) | Currency | ||||
$ | 2,453 | 2,448 | 0.2% | 0.2% | - | |||
1,794 | 1,664 | 7.9% | 11.0% | -3.1% | ||||
4,247 | 4,112 | 3.3% | 4.6% | -1.3% | ||||
266 | 276 | -3.9% | -3.9% | - | ||||
27 | 41 | -32.7% | -32.7% | - | ||||
141 | 170 | -17.2% | -14.2% | -3.0% | ||||
434 | 487 | -10.9% | -9.9% | -1.0% | ||||
254 | 271 | -6.2% | -6.2% | - | ||||
299 | 266 | 12.4% | 20.0% | -7.6% | ||||
554 | 537 | 3.0% | 6.8% | -3.8% | ||||
1,396 | 1,451 | -3.8% | -3.8% | - | ||||
1,055 | 993 | 6.2% | 8.2% | -2.0% | ||||
2,451 | 2,444 | 0.3% | 1.1% | -0.8% | ||||
509 | 406 | 25.4% | 25.4% | - | ||||
299 | 234 | 27.9% | 31.5% | -3.6% | ||||
808 | 640 | 26.3% | 27.6% | -1.3% | ||||
0 | 3 | * | * | - | ||||
0 | 0 | - | - | - | ||||
0 | 3 | * | * | - | ||||
324 | 392 | -17.4% | -17.4% | - | ||||
497 | 1,193 | -58.4% | -58.5% | 0.1% | ||||
821 | 1,586 | -48.3% | -48.3% | 0.0% | ||||
0 | 0 | - | - | - | ||||
25 | 747 | -96.6% | -96.7% | 0.1% | ||||
25 | 747 | -96.6% | -96.7% | 0.1% | ||||
8 | 9 | -10.9% | -10.9% | - | ||||
315 | 271 | 16.6% | 15.7% | 0.9% | ||||
323 | 280 | 15.7% | 14.8% | 0.9% | ||||
314 | 378 | -16.9% | -16.9% | - | ||||
104 | 99 | 5.5% | 5.5% | 0.0% | ||||
418 | 477 | -12.3% | -12.3% | 0.0% | ||||
2 | 5 | -68.8% | -68.8% | - | ||||
52 | 77 | -32.8% | -30.6% | -2.2% | ||||
53 | 82 | -35.1% | -33.1% | -2.0% | ||||
NEUROSCIENCE
US
Intl
WW
CONCERTA / Methylphenidate
US
Intl
WW
INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA
US
Intl
WW
SPRAVATO
US
Intl
WW
OTHER NEUROSCIENCE
US
Intl
WW
ONCOLOGY
US
Intl
WW
CARVYKTI
US
Intl
WW
DARZALEX
US
Intl
WW
ERLEADA
US
Intl
WW
IMBRUVICA
US
Intl
WW
TECVAYLI(4)
US
Intl
WW
ZYTIGA / abiraterone acetate
US
Intl
WW
OTHER ONCOLOGY(4)
US
Intl
WW
REPORTED SALES vs. PRIOR PERIOD ($MM)
FIRST QUARTER
% Change | ||||||
2024 | 2023 | Reported | Operational (1) | Currency | ||
1,054 | 978 | 7.8% | 7.8% | - | ||
749 | 826 | -9.3% | -4.4% | -4.9% | ||
1,803 | 1,804 | 0.0% | 2.2% | -2.2% | ||
41 | 70 | -41.2% | -41.2% | - | ||
136 | 136 | -0.1% | 4.5% | -4.6% | ||
177 | 206 | -14.1% | -11.1% | -3.0% | ||
765 | 713 | 7.2% | 7.2% | - | ||
292 | 331 | -11.8% | -8.7% | -3.1% | ||
1,056 | 1,044 | 1.2% | 2.2% | -1.0% | ||
191 | 111 | 71.5% | 71.5% | - | ||
34 | 20 | 76.1% | 74.8% | 1.3% | ||
225 | 131 | 72.2% | 72.0% | 0.2% | ||
58 | 84 | -31.1% | -31.1% | - | ||
287 | 339 | -15.5% | -8.4% | -7.1% | ||
345 | 423 | -18.5% | -12.9% | -5.6% | ||
2,383 | 1,889 | 26.2% | 26.2% | - | ||
2,430 | 2,223 | 9.3% | 12.6% | -3.3% | ||
4,814 | 4,112 | 17.1% | 18.8% | -1.7% | ||
140 | 70 | 99.8% | 99.8% | - | ||
16 | 2 | * | * | * | ||
157 | 72 | * | * | * | ||
1,464 | 1,191 | 22.9% | 22.9% | - | ||
1,228 | 1,072 | 14.5% | 19.0% | -4.5% | ||
2,692 | 2,264 | 18.9% | 21.0% | -2.1% | ||
285 | 249 | 14.1% | 14.1% | - | ||
404 | 293 | 38.0% | 40.6% | -2.6% | ||
689 | 542 | 27.0% | 28.4% | -1.4% | ||
265 | 270 | -1.5% | -1.5% | - | ||
518 | 557 | -7.0% | -5.6% | -1.4% | ||
784 | 827 | -5.2% | -4.3% | -0.9% | ||
101 | 57 | 76.7% | 76.7% | - | ||
33 | 6 | * | * | * | ||
133 | 63 | * | * | * | ||
9 | 16 | -41.3% | -41.3% | - | ||
172 | 229 | -24.8% | -20.7% | -4.1% | ||
181 | 245 | -25.9% | -22.1% | -3.8% | ||
119 | 35 | * | * | - | ||
60 | 64 | -6.1% | -5.6% | -0.5% | ||
178 | 99 | 80.2% | 80.5% | -0.3% |
PULMONARY HYPERTENSION
US
Intl
WW
OPSUMIT
US
Intl
WW
UPTRAVI
US
Intl
WW
OTHER PULMONARY HYPERTENSIONUS
Intl
WW
CARDIOVASCULAR / METABOLISM / OTHERUS
Intl
WW
XARELTO
US
Intl
WW
OTHER
US
Intl
WW
TOTAL INNOVATIVE MEDICINE
US
Intl
WW
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
FIRST QUARTER
% Change | |||||||
2024 | 2023 | Reported | Operational (1) | Currency | |||
766 | 600 | 27.5% | 27.5% | - | |||
283 | 272 | 4.1% | 10.9% | -6.8% | |||
1,049 | 872 | 20.2% | 22.4% | -2.2% | |||
356 | 273 | 30.4% | 30.4% | - | |||
169 | 167 | 0.8% | 4.6% | -3.8% | |||
524 | 440 | 19.1% | 20.6% | -1.5% | |||
392 | 304 | 29.0% | 29.0% | - | |||
76 | 58 | 30.7% | 38.6% | -7.9% | |||
468 | 362 | 29.2% | 30.5% | -1.3% | |||
18 | 23 | -24.6% | -24.6% | - | |||
39 | 47 | -16.9% | -1.0% | -15.9% | |||
56 | 70 | -19.5% | -8.9% | -10.6% | |||
631 | 715 | -11.7% | -11.7% | - | |||
197 | 212 | -7.0% | -6.8% | -0.2% | |||
829 | 927 | -10.6% | -10.5% | -0.1% | |||
518 | 578 | -10.4% | -10.4% | - | |||
- | - | - | - | - | |||
518 | 578 | -10.4% | -10.4% | - | |||
114 | 137 | -17.1% | -17.1% | - | |||
197 | 212 | -7.0% | -6.8% | -0.2% | |||
311 | 349 | -11.0% | -10.9% | -0.1% | |||
7,612 | 7,023 | 8.4% | 8.4% | - | |||
5,950 | 6,390 | -6.9% | -4.0% | -2.9% | |||
$ | 13,562 | 13,413 | 1.1% | 2.5% | -1.4% | ||
MEDTECH SEGMENT (2)
CARDIOVASCULAR (5)
US
Intl
WW ELECTROPHYSIOLOGYUS
Intl
WW
ABIOMED
US
Intl
WW
OTHER CARDIOVASCULAR (5)US
Intl
WW
ORTHOPAEDICS
US
Intl
WW
HIPS
US
Intl
WW
KNEES
US
Intl
WW
TRAUMA
US
Intl
WW
SPINE, SPORTS & OTHERUS
Intl
WW
REPORTED SALES vs. PRIOR PERIOD ($MM)
FIRST QUARTER
% Change | |||||||
2024 | 2023 | Reported | Operational (1) | Currency | |||
$ | 1,025 | 863 | 18.8% | 18.8% | - | ||
781 | 640 | 22.1% | 27.6% | -5.5% | |||
1,806 | 1,503 | 20.2% | 22.5% | -2.3% | |||
692 | 571 | 21.3% | 21.3% | - | |||
652 | 522 | 24.9% | 30.9% | -6.0% | |||
1,344 | 1,092 | 23.0% | 25.9% | -2.9% | |||
303 | 264 | 15.0% | 15.0% | - | |||
67 | 60 | 12.4% | 14.7% | -2.3% | |||
371 | 324 | 14.5% | 15.0% | -0.5% | |||
30 | 28 | 3.3% | 3.3% | - | |||
62 | 58 | 6.9% | 11.5% | -4.6% | |||
92 | 87 | 5.7% | 8.8% | -3.1% | |||
1,448 | 1,363 | 6.2% | 6.2% | - | |||
892 | 881 | 1.3% | 2.7% | -1.4% | |||
2,340 | 2,245 | 4.3% | 4.8% | -0.5% | |||
270 | 241 | 12.1% | 12.1% | - | |||
152 | 149 | 1.7% | 3.3% | -1.6% | |||
422 | 390 | 8.1% | 8.7% | -0.6% | |||
242 | 226 | 6.9% | 6.9% | - | |||
160 | 142 | 12.3% | 13.1% | -0.8% | |||
401 | 368 | 9.0% | 9.3% | -0.3% | |||
504 | 491 | 2.8% | 2.8% | - | |||
261 | 267 | -2.3% | -1.1% | -1.2% | |||
765 | 757 | 1.0% | 1.4% | -0.4% | |||
432 | 406 | 6.5% | 6.5% | - | |||
320 | 323 | -0.9% | 0.9% | -1.8% | |||
752 | 729 | 3.2% | 4.0% | -0.8% |
SURGERY
US
Intl
WW
ADVANCED
US
Intl
WW
GENERAL
US
Intl
WW
VISION
US
Intl
WW
CONTACT LENSES / OTHERUS
Intl
WW
SURGICAL
US
Intl
WW
TOTAL MEDTECH
US
Intl
WW
REPORTED SALES vs. PRIOR PERIOD ($MM)
FIRST QUARTER
% Change | ||||||||
2024 | 2023 | Reported | Operational (1) | Currency | ||||
987 | 975 | 1.2% | 1.2% | - | ||||
1,429 | 1,459 | -2.0% | 2.3% | -4.3% | ||||
2,416 | 2,434 | -0.7% | 1.9% | -2.6% | ||||
446 | 444 | 0.2% | 0.2% | - | ||||
641 | 673 | -4.7% | -0.7% | -4.0% | ||||
1,087 | 1,118 | -2.8% | -0.3% | -2.5% | ||||
542 | 531 | 2.1% | 2.1% | - | ||||
788 | 785 | 0.3% | 4.8% | -4.5% | ||||
1,330 | 1,316 | 1.0% | 3.7% | -2.7% | ||||
547 | 558 | -1.8% | -1.8% | - | ||||
710 | 743 | -4.4% | -1.1% | -3.3% | ||||
1,258 | 1,300 | -3.3% | -1.4% | -1.9% | ||||
438 | 444 | -1.4% | -1.4% | - | ||||
472 | 509 | -7.4% | -3.1% | -4.3% | ||||
910 | 953 | -4.6% | -2.3% | -2.3% | ||||
110 | 114 | -3.7% | -3.7% | - | ||||
238 | 233 | 2.2% | 3.4% | -1.2% | ||||
348 | 347 | 0.3% | 1.1% | -0.8% | ||||
4,008 | 3,759 | 6.6% | 6.6% | - | ||||
3,813 | 3,722 | 2.4% | 6.1% | -3.7% | ||||
$ | 7,821 | $ | 7,481 | 4.5% | 6.3% | -1.8% | ||
Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely
* Percentage greater than 100% or not meaningful
- Operational growth excludes the effect of translational currency
- Unaudited
- Reported as U.S. sales
- See Supplemental Sales Information Schedule
- Previously referred to as Interventional Solutions
Supplemental Sales Information (Unaudited)
(Dollars in Millions)
Schedule 1
FIRST QUARTER | |||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Innovative Medicine | |||||||
U.S. | $ | 7,612 | 7,023 | 8.4 | % | 8.4 | - |
International | 5,950 | 6,390 | (6.9) | (4.0) | (2.9) | ||
Worldwide | 13,562 | 13,413 | 1.1 | 2.5 | (1.4) | ||
COVID-19 Vaccine | |||||||
U.S. | - | - | - | - | - | ||
International | 25 | 747 | (96.6) | (96.7) | 0.1 | ||
Worldwide | 25 | 747 | (96.6) | (96.7) | 0.1 | ||
Innovative Medicine excluding COVID-19 Vaccine | |||||||
U.S. | 7,612 | 7,023 | 8.4 | 8.4 | - | ||
International | 5,925 | 5,643 | 5.0 | 8.3 | (3.3) | ||
Worldwide | 13,537 | 12,666 | 6.9 | 8.3 | (1.4) | ||
Worldwide | |||||||
U.S. | 11,620 | 10,782 | 7.8 | 7.8 | - | ||
International | 9,763 | 10,112 | (3.4) | (0.3) | (3.1) | ||
Worldwide | 21,383 | 20,894 | 2.3 | 3.9 | (1.6) | ||
COVID-19 Vaccine | |||||||
U.S. | - | - | - | - | - | ||
International | 25 | 747 | (96.6) | (96.7) | 0.1 | ||
Worldwide | 25 | 747 | (96.6) | (96.7) | 0.1 | ||
Worldwide | |||||||
U.S. | 11,620 | 10,782 | 7.8 | 7.8 | - | ||
International | 9,738 | 9,365 | 4.0 | 7.4 | (3.4) | ||
Worldwide excluding COVID-19 Vaccine | $ | 21,358 | 20,147 | 6.0 | % | 7.6 | (1.6) |
Europe | $ | 5,163 | 5,590 | (7.6) % | (7.7) | 0.1 | |
Europe COVID-19 Vaccine Sales | 25 | 747 | (96.6) | (96.7) | 0.1 | ||
Europe excluding COVID-19 Vaccine Sales | $ | 5,138 | 4,843 | 6.1 | % | 6.0 | 0.1 |
Schedule 2
2022 | |
Full Year | |
INNOVATIVE MEDICINE SEGMENT (1) | |
ONCOLOGY | |
TECVAYLI | |
US | 12 |
INTL | 3 |
WW | 15 |
OTHER ONCOLOGY | |
US | 144 |
INTL | 280 |
WW | 423 |
Note: Columns and rows within tables may not add due to rounding
- Unaudited
2023
Q1 | Q2 | Q3 | Q4 |
57 | 82 | 93 | 102 | |||
6 | 12 | 19 | 24 | |||
63 | 94 | 112 | 126 | |||
35 | 40 | 50 | 90 | |||
64 | 80 | 67 | 58 | |||
99 | 120 | 117 | 148 |
2023
Full Year
334
61
395
215
269
484
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) | FIRST QUARTER | |||||||
2024 | 2023 | Percent | ||||||
Percent | Percent | Increase | ||||||
Amount | to Sales | Amount | to Sales | (Decrease) | ||||
Sales to customers | $ | 21,383 | 100.0 | $ | 20,894 | 100.0 | 2.3 | |
Cost of products sold | 6,511 | 30.4 | 6,687 | 32.0 | (2.6) | |||
Gross Profit | 14,872 | 69.6 | 14,207 | 68.0 | 4.7 | |||
Selling, marketing and administrative expenses | 5,257 | 24.6 | 4,906 | 23.5 | 7.2 | |||
Research and development expense | 3,542 | 16.6 | 3,455 | 16.6 | 2.5 | |||
In-process research and development impairments | - | - | 49 | 0.2 | ||||
Interest (income) expense, net | (209) | (1.0) | 14 | 0.1 | ||||
Other (income) expense, net | (322) | (1.5) | 6,940 | 33.2 | ||||
Restructuring | 164 | 0.8 | 130 | 0.6 | ||||
Earnings/(loss) before provision for taxes on income | 6,440 | 30.1 | (1,287) | (6.2) | ||||
Provision for/(Benefit from) taxes on income | 1,086 | 5.1 | (796) | (3.9) | ||||
Net earnings/(loss) from Continuing Operations | $ | 5,354 | 25.0 | $ | (491) | (2.3) | ||
Net earnings from Discontinued Operations, net of tax | - | 423 | ||||||
Net earnings/(loss) | $ | 5,354 | $ | (68) | ||||
Net earnings (loss) per share (Diluted/Basic) from Continuing Operations | $ | 2.20 | $ | (0.19) | ||||
Net earnings per share (Diluted) from Discontinued Operations | $ | - | $ | 0.16 | ||||
Average shares outstanding (Diluted/Basic) | 2,430.1 | 2,605.5 * | ||||||
Effective tax rate from Continuing Operations | 16.9 % | 61.8 % | ||||||
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) | ||||||||
Earnings before provision for taxes on income from Continuing Operations | $ | 7,877 | 36.8 | $ | 7,536 | 36.1 | 4.5 | |
Net earnings from Continuing Operations | $ | 6,580 | 30.8 | $ | 6,340 | 30.3 | 3.8 | |
Net earnings per share (Diluted) from Continuing Operations | $ | 2.71 | $ | 2.41 | 12.4 | |||
Average shares outstanding (Diluted) | 2,430.1 | 2,634.3 | ||||||
Effective tax rate from Continuing Operations | 16.5 % | 15.9 % |
*Basic shares are used to calculate loss per share in the first quarter of 2023 as use of diluted shares when in a loss position would be anti-dilutive
(1) See Reconciliation of Non-GAAP Financial Measures.
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Johnson & Johnson published this content on 15 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 April 2024 10:40:06 UTC.
