Johnson & Johnson Reports Q4 and Full-Year 2021 Results

 

- 2021 Fourth-Quarter Sales of $24.8 Billion reflecting growth of 10.4%, operational sales growth of 11.6%*, and adjusted operational sales growth of 12.3%*
- 2021 Full-Year Sales of $93.8 Billion reflecting growth of 13.6%, operational sales growth of 12.2%*, and adjusted operational sales growth of 12.8%*
- 2021 Fourth-Quarter EPS of $1.77 increased 172.3%; adjusted EPS of $2.13 increased 14.5%*
- 2021 Full-Year EPS of $7.81 increased 41.7%; adjusted EPS of $9.80 increased 22.0%*
- Company guides 2022 adjusted operational sales growth of 7.7%* and adjusted operational EPS growth of 9.2%*

 
[25-January-2022]
 
 

NEW BRUNSWICK, N.J., Jan. 25, 2022 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2021. "Our 2021 performance reflects continued strength across all segments of our business. Guided by Our Credo, I am honored to assume the role of CEO, leading our global teams in continuing our work to deliver life-changing solutions to consumers, patients, and health care providers" said Joaquin Duato, Chief Executive Officer. "Given our strong results, financial profile, and innovative pipeline we are well positioned for success in 2022 and beyond."

 OVERALL FINANCIAL RESULTS

 
 

Q4

 

Full Year

($ in Millions, except EPS)

2021

2020

%  Change

 

2021

2020

%  Change

Reported Sales

$       24,804

$       22,475

10.4%

 

$       93,775

$       82,584

13.6%

Net Earnings

4,736

1,738

172.5%

 

20,878

14,714

41.9%

EPS (diluted)

$           1.77

$           0.65

172.3%

 

$           7.81

$           5.51

41.7%

               
 

Q4

 

Full Year

Non-GAAP*($ in Millions, except EPS)

2021

2020

%  Change

 

2021

2020

%  Change

Operational Sales1,2

   

11.6%

     

12.2%

Adjusted Operational Sales1,3

   

12.3%

     

12.8%

Adjusted Net Earnings1,4

5,678

4,965

14.4%

 

26,195

21,433

22.2%

Adjusted EPS (diluted)1,4

$           2.13

$           1.86

14.5%

 

$           9.80

$           8.03

22.0%

 

REGIONAL SALES RESULTS

 

Q4

 

%  Change

($ in Millions)

2021

2020

Reported

Operational1,2

Currency

Adjusted
Operational1,3

U.S.

$      12,163

$      11,809

3.0%

3.0

-

3.1

International

12,641

10,666

18.5%

21.2

(2.7)

22.4

Worldwide

$      24,804

$      22,475

10.4%

11.6

(1.2)

12.3

             
             
             

Full Year

 

%  Change

($ in Millions)

2021

2020

Reported

Operational1,2

Currency

Adjusted
Operational1,3

U.S.

$      47,156

$      43,133

9.3%

9.3

-

9.5

International

46,619

39,451

18.2%

15.3

2.9

16.6

Worldwide

$      93,775

$      82,584

13.6%

12.2

1.4

12.8

 

SEGMENT SALES RESULTS

 

Q4

 

%  Change

($ in Millions)

2021

2020

Reported

Operational1,2

Currency

Adjusted
Operational1,3

Consumer Health

$         3,657

$         3,618

1.1%

1.8

(0.7)

2.9

Pharmaceutical

14,288

12,268

16.5%

17.9

(1.4)

18.6

Medical Devices

6,859

6,589

4.1%

5.3

(1.2)

5.6

Worldwide

$       24,804

$      22,475

10.4%

11.6

(1.2)

12.3

             
             

Full Year

 

%  Change

($ in Millions)

2021

2020

Reported

Operational1,2

Currency

Adjusted
Operational1,3

Consumer Health

$       14,635

$      14,053

4.1%

2.8

1.3

3.8

Pharmaceutical

52,080

45,572

14.3%

13.1

1.2

13.6

Medical Devices

27,060

22,959

17.9%

16.2

1.7

16.8

Worldwide

$       93,775

$      82,584

13.6%

12.2

1.4

12.8

 

1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

4 Excludes intangible amortization expense and special items

  Note: values may have been rounded

FULL YEAR 2021 SEGMENT COMMENTARY:

Consumer Health
Consumer Health worldwide adjusted operational sales increased 3.8%* primarily driven by over-the-counter (OTC) products including TYLENOL analgesics and digestive health, in addition to NEUTROGENA and AVEENO products in Skin Health / Beauty primarily due to COVID-19 market recovery. The growth was partially offset by external supply constraints mainly impacting Skin Health / Beauty.

Pharmaceutical
Pharmaceutical worldwide adjusted operational sales grew 13.6%* driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, and INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults. Also contributing to growth were sales of the Janssen COVID-19 Vaccine (Ad26.COV2.S) for the treatment of the SARS-CoV-2 virus. This growth was partially offset by declines in U.S. sales of REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases.

Medical Devices
Medical Devices worldwide adjusted operational sales grew 16.8%*, driven primarily by the market recovery from COVID-19 impacts and the associated deferral of medical procedures in the prior year across all of our businesses including Surgery, Interventional Solutions, Vision and Orthopaedics.

NOTABLE NEW ANNOUCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investors section of the company's website at news releases, as well as www.factsabouttalc.com,www.factsaboutourprescriptionopioids.com, and www.LTLManagementInformation.com.

Regulatory
Decisions

European Commission Approves BYANNLI® (6-monthly Paliperidone Palmitate; PP6M) for the Maintenance Treatment of Schizophrenia in Adults

(press release)

U.S. FDA Approves DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) in Combination with Carfilzomib and Dexamethasone for Patients with Multiple Myeloma After First or Subsequent Relapse

(press release)

Janssen EMEA Receives Conditional Marketing Authorisation for RYBREVANT®

(amivantamab), the First Treatment Approved for Patients with Advanced NonSmall Cell Lung Cancer (NSCLC) with EGFR Exon 20 Insertion Mutations After Failure of Platinum-Based Therapy

(press release)

Johnson & Johnson COVID-19 Vaccine Booster Shot Authorized for Emergency Use by U.S. FDA

(press release)

World Health Organization Strategic Advisory Group of Experts (SAGE) Interim Recommendation Supports Use of Johnson & Johnson COVID-19 Vaccine as a Booster

(press release)

Johnson & Johnson Announces Positive CHMP Opinion for a Booster Shot of its COVID-19 Vaccine

(press release)

FDA Approves Two New Indications for XARELTO® (rivaroxaban) to Help Prevent and Treat Blood Clots in Pediatric Patients

(press release)

U.S. FDA Approves New MENTOR® MemoryGel BOOST™ Breast Implant1

(press release)

Regulatory
Submissions

Janssen Seeks Approval of IMBRUVICA® (ibrutinib) in a Fixed-Duration Regimen for Patients with Untreated Chronic Lymphocytic Leukaemia (CLL) (EU)

(press release)

Janssen Submits Biologics License Application to U.S. FDA Seeking Approval of Teclistamab for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma

(press release)

Other

Johnson & Johnson Announces Plans to Accelerate Innovation, Serve Patients and Consumers, and Unlock Value through Intent to Separate Consumer Health Business

(press release)

Johnson & Johnson Appoints Senior Leaders to Executive Committee

(press release)

Johnson & Johnson announces significant progress towards its climate goals – 100% renewable electricity for all sites in the United States, Canada and Europe by 2023

(press release)

Johnson & Johnson Medical Devices Companies Announces Strategic Partnership with Microsoft to Further Enable its Digital Surgery Solutions1

(press release)

Johnson & Johnson COVID-19 Booster, Administered Six Months After Two-Dose Regimen of BNT162b2, Shows Substantial Increase in Antibody and T-cell Responses

(press release)

Johnson & Johnson Enters into Agreement to Provide its Single-Shot COVID-19 Vaccine for the World's Most Vulnerable People through Novel Humanitarian Buffer

(press release)

Johnson & Johnson COVID-19 Vaccine Demonstrates 85 Percent Effectiveness against Hospitalization in South Africa when Omicron was Dominant

(press release)

 

1Subsequent to the quarter

FULL-YEAR 2022 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

($ in Billions, except EPS)                

January 2022

(ex. COVID Vx)

January 2022

(COVID Vx)

January 2022

(incl. COVID Vx)

Adjusted Operational Sales1,2

Change vs. Prior Year

6.5% – 7.5%

 

7.0% – 8.5%

Operational Sales2

Change vs. Prior Year

$97.3B – $98.3B

6.5% – 7.5%

$3.0B - $3.5B

$100.3B – $101.8B

7.0% – 8.5%

Estimated Reported Sales3

Change vs. Prior Year

$95.9B - $96.9B

5.0% – 6.0%

$3.0B - $3.5B

$98.9B - $100.4B

5.5% – 7.0%

       

Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

   

$10.60 - $10.80

8.2% – 10.2%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

   

$10.40 - $10.60

6.1% – 8.2%

   

 

1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures

2 Non-GAAP financial measure; excludes the impact of translational currency

3 Calculated using Euro Average Rate: January 2022 = $1.14 (Illustrative purposes only)

Non-GAAP financial measure; excludes intangible amortization expense and special items

  Note: % may have been rounded

 

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson Website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations

ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

NON-GAAP FINANCIAL MEASURES:
* "Operational sales growth" excluding the impact of translational currency, "adjusted operational sales growth" excluding the net impact of acquisitions and divestitures and translational currency, as well as "adjusted net earnings", "adjusted diluted earnings per share" and "adjusted operational diluted earnings per share" excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly-results.

Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position, business strategy, and the anticipated separation of the company's Consumer Health business. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the company's ability to execute business continuity plans, as a result of the COVID-19 pandemic; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans, including restructuring plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; the company's ability to satisfy the necessary conditions to consummate the separation of the company's Consumer Health business on a timely basis or at all; the company's ability to successfully separate the company's Consumer Health business and realize the anticipated benefits from the separation; and the New Consumer Health Company's ability to succeed as a standalone publicly traded company. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021 including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in the company's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

Johnson & Johnson and Subsidiaries

                                     

Supplementary Sales Data

                                     
                                       

(Unaudited; Dollars in Millions)

FOURTH QUARTER

 

TWELVE MONTHS

         

 Percent Change

         

Percent Change

 

2021

 

2020

 

Total

 

Operations

 

Currency

 

2021

 

2020

 

Total

 

Operations

 

Currency

Sales to customers by

                                     

segment of business

                                     
                                       

Consumer Health

                                     

    U.S.

$   1,529

 

1,509

 

1.3

%

1.3

 

-

 

$   6,516

 

6,362

 

2.4

%

2.4

 

-

    International

2,128

 

2,109

 

0.9

 

2.1

 

(1.2)

 

8,119

 

7,691

 

5.6

 

3.1

 

2.5

 

3,657

 

3,618

 

1.1

 

1.8

 

(0.7)

 

14,635

 

14,053

 

4.1

 

2.8

 

1.3

                                       

Pharmaceutical

                                     

    U.S.

7,418

 

7,116

 

4.2

 

4.2

 

-

 

27,954

 

25,735

 

8.6

 

8.6

 

-

    International

6,870

 

5,152

 

33.4

 

36.9

 

(3.5)

 

24,126

 

19,837

 

21.6

 

18.8

 

2.8

 

14,288

 

12,268

 

16.5

 

17.9

 

(1.4)

 

52,080

 

45,572

 

14.3

 

13.1

 

1.2

                                       

Medical Devices

                                     

    U.S.

3,216

 

3,184

 

1.0

 

1.0

 

-

 

12,686

 

11,036

 

14.9

 

14.9

 

-

    International

3,643

 

3,405

 

7.0

 

9.3

 

(2.3)

 

14,374

 

11,923

 

20.6

 

17.3

 

3.3

 

6,859

 

6,589

 

4.1

 

5.3

 

(1.2)

 

27,060

 

22,959

 

17.9

 

16.2

 

1.7

                                       

U.S.

12,163

 

11,809

 

3.0

 

3.0

 

-

 

47,156

 

43,133

 

9.3

 

9.3

 

-

International

12,641

 

10,666

 

18.5

 

21.2

 

(2.7)

 

46,619

 

39,451

 

18.2

 

15.3

 

2.9

Worldwide

$ 24,804

 

22,475

 

10.4

%

11.6

 

(1.2)

 

$ 93,775

 

82,584

 

13.6

%

12.2

 

1.4

                                       

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 

Johnson & Johnson and Subsidiaries

                                     

Supplementary Sales Data

                                     
                                       

(Unaudited; Dollars in Millions)

FOURTH QUARTER

 

TWELVE MONTHS

         

Percent Change

         

Percent Change

 

2021

 

2020

 

Total

 

Operations

 

Currency

 

2021

 

2020

 

Total

 

Operations

 

Currency

Sales to customers by

                                     

geographic area

                                     
                                       

U.S.

$ 12,163

 

11,809

 

3.0

%

3.0

 

-

 

$ 47,156

 

43,133

 

9.3

%

9.3

 

-

                                       

Europe

6,925

 

5,271

 

31.4

 

34.7

 

(3.3)

 

23,594

 

18,980

 

24.3

 

20.7

 

3.6

Western Hemisphere excluding U.S.

1,459

 

1,404

 

3.9

 

5.0

 

(1.1)

 

5,750

 

5,335

 

7.8

 

7.3

 

0.5

Asia-Pacific, Africa

4,257

 

3,991

 

6.6

 

9.0

 

(2.4)

 

17,275

 

15,136

 

14.1

 

11.4

 

2.7

International

12,641

 

10,666

 

18.5

 

21.2

 

(2.7)

 

46,619

 

39,451

 

18.2

 

15.3

 

2.9

                                       

Worldwide

$ 24,804

 

22,475

 

10.4

%

11.6

 

(1.2)

 

$ 93,775

 

82,584

 

13.6

%

12.2

 

1.4

                                       

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 

Johnson & Johnson and Subsidiaries

                 

Condensed Consolidated Statement of Earnings 

                 
                   

(Unaudited; in Millions Except Per Share Figures)

FOURTH QUARTER

                   
 

2021

 

2020

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 24,804

 

100.0

 

$ 22,475

 

100.0

 

10.4

Cost of products sold

7,955

 

32.1

 

7,814

 

34.8

 

1.8

Gross Profit

16,849

 

67.9

 

14,661

 

65.2

 

14.9

Selling, marketing and administrative expenses

7,154

 

28.9

 

6,457

 

28.7

 

10.8

Research and development expense

4,720

 

19.0

 

4,032

 

17.9

 

17.1

In-process research and development

0

 

0.0

 

37

 

0.2

   

Interest (income) expense, net

47

 

0.2

 

74

 

0.3

   

Other (income) expense, net

9

 

0.0

 

2,354

 

10.5

   

Restructuring

83

 

0.3

 

60

 

0.3

   

Earnings before provision for taxes on income

4,836

 

19.5

 

1,647

 

7.3

 

193.6

Provision for/(Benefit from) taxes on income

100

 

0.4

 

(91)

 

(0.4)

 

(209.9)

Net earnings

$   4,736

 

19.1

 

$   1,738

 

7.7

 

172.5

                   

Net earnings per share (Diluted)

$     1.77

     

$     0.65

     

172.3

                   

Average shares outstanding (Diluted)

2,670.2

     

2,669.2

       
                   

Effective tax rate

2.1

%

   

(5.5)

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$   6,339

 

25.6

 

$   5,601

 

24.9

 

13.2

Net earnings

$   5,678

 

22.9

 

$   4,965

 

22.1

 

14.4

Net earnings per share (Diluted)

$     2.13

     

$     1.86

     

14.5

Effective tax rate

10.4

%

   

11.4

%

     
                   

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

                 

 

Johnson & Johnson and Subsidiaries

                 

Condensed Consolidated Statement of Earnings 

                 
                   

(Unaudited; in Millions Except Per Share Figures)

TWELVE MONTHS

                   
 

2021

 

2020

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 93,775

 

100.0

 

$ 82,584

 

100.0

 

13.6

Cost of products sold

29,855

 

31.8

 

28,427

 

34.4

 

5.0

Gross Profit

63,920

 

68.2

 

54,157

 

65.6

 

18.0

Selling, marketing and administrative expenses

24,659

 

26.3

 

22,084

 

26.8

 

11.7

Research and development expense

14,714

 

15.7

 

12,159

 

14.7

 

21.0

In-process research and development

900

 

1.0

 

181

 

0.2

   

Interest (income) expense, net

130

 

0.1

 

90

 

0.1

   

Other (income) expense, net

489

 

0.5

 

2,899

 

3.5

   

Restructuring

252

 

0.3

 

247

 

0.3

   

Earnings before provision for taxes on income

22,776

 

24.3

 

16,497

 

20.0

 

38.1

Provision for taxes on income

1,898

 

2.0

 

1,783

 

2.2

 

6.4

Net earnings

$ 20,878

 

22.3

 

$ 14,714

 

17.8

 

41.9

                   

Net earnings per share (Diluted)

$     7.81

     

$     5.51

     

41.7

                   

Average shares outstanding (Diluted)

2,674.0

     

2,670.7

       
                   

Effective tax rate

8.3

%

   

10.8

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$ 30,464

 

32.5

 

$ 25,428

 

30.8

 

19.8

Net earnings

$ 26,195

 

27.9

 

$ 21,433

 

26.0

 

22.2

Net earnings per share (Diluted)

$     9.80

     

$     8.03

     

22.0

Effective tax rate

14.0

%

   

15.7

%

     
                   

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

                 

 

Johnson & Johnson and Subsidiaries

             

Reconciliation of Non-GAAP Financial Measures 

             
                 
   

Fourth Quarter

 

Twelve Months Ended

 

(Dollars in Millions Except Per Share Data)

2021

 

2020

 

2021

 

2020

 

Net Earnings, after tax- as reported

$4,736

 

$1,738

 

$20,878

 

$14,714

                 
 

Pre-tax Adjustments 

             
 

Intangible Asset Amortization expense

1,121

 

1,234

 

4,697

 

4,660

 

Litigation expense, net

274

 

2,902

 

2,328

 

5,112

 

IPR&D

-

 

37

 

900

 

181

 

Restructuring related

140

 

85

 

473

 

448

 

Acquisition, integration and divestiture related ¹

26

 

14

 

(478)

 

(1,073)

 

(Gains)/losses on securities 

(198)

 

(373)

 

(533)

 

(547)

 

Medical Device Regulation 

73

 

55

 

234

 

144

 

Consumer Health separation costs

67

 

-

 

67

 

-

 

Other

-

 

-

 

-

 

6

                 
 

Tax Adjustments

             
 

Tax impact on special item adjustments 2

(184)

 

(606)

 

(1,281)

 

(1,608)

 

Tax legislation and other tax related

(377)

 

(121)

 

(1,090)

 

(604)

 

Adjusted Net Earnings, after tax

$5,678

 

$4,965

 

$26,195

 

$21,433

 

Average shares outstanding (Diluted)

2,670.2

 

2,669.2

 

2,674.0

 

2,670.7

 

Adjusted net earnings per share (Diluted)

$2.13

 

$1.86

 

$9.80

 

$8.03

 

Operational adjusted net earnings per share (Diluted)

$2.18

     

$9.65

   
                 
 

Notes:

             

1

Acquisition, integration and divestiture related for 2021 primarily includes the gain on the divestiture of two Pharmaceutical brands outside of the U.S. Acquisition, integration and divestiture related for 2020 primarily includes a Contingent Consideration reversal of $1,148M related to the timing of certain developmental milestones associated with the Auris Health acquisition. 

                 

2

The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Adjusted Operational Sales Growth

 FOURTH QUARTER 2021 ACTUAL vs. 2020 ACTUAL 

 

 Segments 

                 
   

Consumer Health

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total 

                 

 WW As Reported 

 

1.1%

 

16.5%

 

4.1%

 

10.4%

 U.S. 

 

1.3%

 

4.2%

 

1.0%

 

3.0%

 International 

 

0.9%

 

33.4%

 

7.0%

 

18.5%

                 

 WW Currency 

 

(0.7)

 

(1.4)

 

(1.2)

 

(1.2)

 U.S. 

 

-

 

-

 

-

 

-

 International 

 

(1.2)

 

(3.5)

 

(2.3)

 

(2.7)

                 

 WW Operational 

 

1.8%

 

17.9%

 

5.3%

 

11.6%

 U.S. 

 

1.3%

 

4.2%

 

1.0%

 

3.0%

 International 

 

2.1%

 

36.9%

 

9.3%

 

21.2%

                 

General Surgery

               

Advanced Sterilization Products

         

0.3

 

0.1

 U.S. 

         

0.0

 

0.0

 International 

         

0.5

 

0.2

                 

Skin Health / Beauty

               

Dr. Ci Labo - Sedona

 

0.7

         

0.1

 U.S. 

 

0.0

         

0.0

 International 

 

1.2

         

0.3

                 

All Other Acquisitions and Divestitures

 

0.4

 

0.7

 

0.1

 

0.4

 U.S. 

 

0.6

 

0.0

 

0.2

 

0.1

 International 

 

0.3

 

1.7

 

0.0

 

0.8

                 

WW Adjusted Operational

 

2.9%

 

18.6%

 

5.6%

 

12.3%

 U.S. 

 

1.9%

 

4.2%

 

1.2%

 

3.1%

 International 

 

3.6%

 

38.6%

 

9.8%

 

22.4%

                 

Note: Percentages are based on actual, non-rounded figures and may not sum

   

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Adjusted Operational Sales Growth

 TWELVE MONTHS 2021 ACTUAL vs. 2020 ACTUAL 

 

 Segments 

                 
   

Consumer Health

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total 

                 

 WW As Reported 

 

4.1%

 

14.3%

 

17.9%

 

13.6%

 U.S. 

 

2.4%

 

8.6%

 

14.9%

 

9.3%

 International 

 

5.6%

 

21.6%

 

20.6%

 

18.2%

                 

 WW Currency 

 

1.3

 

1.2

 

1.7

 

1.4

 U.S. 

 

-

 

-

 

-

 

-

 International 

 

2.5

 

2.8

 

3.3

 

2.9

                 

 WW Operational 

 

2.8%

 

13.1%

 

16.2%

 

12.2%

 U.S. 

 

2.4%

 

8.6%

 

14.9%

 

9.3%

 International 

 

3.1%

 

18.8%

 

17.3%

 

15.3%

                 

General Surgery

               

Advanced Sterilization Products

         

0.5

 

0.1

 U.S. 

         

0.0

 

0.0

 International 

         

1.0

 

0.3

                 

Skin Health / Beauty

               

Dr. Ci Labo - Sedona

 

0.5

         

0.1

 U.S. 

 

0.0

         

0.0

 International 

 

1.0

         

0.2

                 

All Other Acquisitions and Divestitures

 

0.4

 

0.5

 

0.1

 

0.4

 U.S. 

 

0.6

 

0.0

 

0.4

 

0.2

 International 

 

0.3

 

1.4

 

0.0

 

0.8

                 

WW Adjusted Operational

 

3.8%

 

13.6%

 

16.8%

 

12.8%

 U.S. 

 

3.0%

 

8.6%

 

15.3%

 

9.5%

 International 

 

4.4%

 

20.2%

 

18.3%

 

16.6%

                 

Note: Percentages are based on actual, non-rounded figures and may not sum

   

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FOURTH QUARTER

 

TWELVE MONTHS

         

% Change

         

% Change

   

2021

 

2020

Reported

Operational (1)

Currency

   

2021

 

2020

Reported

Operational (1)

Currency

CONSUMER HEALTH SEGMENT (2) 

                             

OTC

                             

US

 

$             633

 

543

16.8%

16.8%

-

   

$          2,594

 

2,460

5.4%

5.4%

-

Intl

 

740

 

642

15.1%

14.9%

0.2%

   

2,634

 

2,364

11.4%

6.9%

4.5%

WW

 

1,373

 

1,185

15.9%

15.8%

0.1%

   

5,227

 

4,824

8.4%

6.2%

2.2%

SKIN HEALTH / BEAUTY

                             

US

 

538

 

583

-7.8%

-7.8%

-

   

2,400

 

2,350

2.1%

2.1%

-

Intl

 

546

 

594

-8.2%

-6.4%

-1.8%

   

2,141

 

2,100

1.9%

-0.3%

2.2%

WW

 

1,084

 

1,177

-8.0%

-7.1%

-0.9%

   

4,541

 

4,450

2.0%

1.0%

1.0%

ORAL CARE

                             

US

 

159

 

173

-8.2%

-8.2%

-

   

637

 

683

-6.7%

-6.7%

-

Intl

 

246

 

264

-7.2%

-5.5%

-1.7%

   

1,008

 

958

5.1%

2.8%

2.3%

WW

 

405

 

437

-7.6%

-6.5%

-1.1%

   

1,645

 

1,641

0.2%

-1.2%

1.4%

BABY CARE

                             

US

 

90

 

97

-7.5%

-7.5%

-

   

378

 

376

0.5%

0.5%

-

Intl

 

309

 

310

-0.3%

1.3%

-1.6%

   

1,188

 

1,141

4.1%

3.7%

0.4%

WW

 

399

 

407

-2.0%

-0.8%

-1.2%

   

1,566

 

1,517

3.2%

2.9%

0.3%

WOMEN'S HEALTH

                             

US

 

4

 

3

14.1%

14.1%

-

   

13

 

13

-1.6%

-1.6%

-

Intl

 

230

 

234

-1.8%

1.2%

-3.0%

   

905

 

888

1.8%

2.0%

-0.2%

WW

 

233

 

237

-1.6%

1.3%

-2.9%

   

917

 

901

1.8%

1.9%

-0.1%

WOUND CARE / OTHER

                             

US

 

106

 

110

-4.2%

-4.2%

-

   

495

 

480

3.1%

3.1%

-

Intl

 

57

 

65

-9.6%

-10.2%

0.6%

   

243

 

240

1.7%

-2.7%

4.4%

WW

 

164

 

175

-6.2%

-6.4%

0.2%

   

739

 

720

2.6%

1.2%

1.4%

                               

TOTAL CONSUMER HEALTH

                             

US

 

1,529

 

1,509

1.3%

1.3%

-

   

6,516

 

6,362

2.4%

2.4%

-

Intl

 

2,128

 

2,109

0.9%

2.1%

-1.2%

   

8,119

 

7,691

5.6%

3.1%

2.5%

WW

 

$          3,657

 

3,618

1.1%

1.8%

-0.7%

   

$        14,635

 

14,053

4.1%

2.8%

1.3%

                               
                               

See footnotes at end of schedule

                             

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FOURTH QUARTER

 

TWELVE MONTHS

         

% Change

         

% Change

PHARMACEUTICAL SEGMENT (2,3)

 

2021

 

2020

Reported

Operational (1)

Currency

   

2021

 

2020

Reported

Operational (1)

Currency

                               

IMMUNOLOGY

                             

US

 

$          2,912

 

2,845

2.4%

2.4%

-

   

$        10,843

 

10,175

6.6%

6.6%

-

Intl

 

1,443

 

1,261

14.5%

17.9%

-3.4%

   

5,907

 

4,880

21.0%

17.7%

3.3%

WW

 

4,355

 

4,105

6.1%

7.1%

-1.0%

   

16,750

 

15,055

11.3%

10.2%

1.1%

REMICADE

                             

US 

 

511

 

656

-22.2%

-22.2%

-

   

2,019

 

2,508

-19.5%

-19.5%

-

US Exports (4)

 

39

 

25

53.5%

53.5%

-

   

236

 

346

-31.9%

-31.9%

-

Intl

 

214

 

220

-2.3%

-2.4%

0.1%

   

935

 

893

4.8%

0.4%

4.4%

WW

 

764

 

901

-15.2%

-15.2%

0.0%

   

3,190

 

3,747

-14.9%

-15.9%

1.0%

SIMPONI / SIMPONI ARIA

                             

US

 

287

 

315

-8.9%

-8.9%

-

   

1,127

 

1,155

-2.4%

-2.4%

-

Intl

 

271

 

261

3.6%

8.4%

-4.8%

   

1,148

 

1,088

5.5%

4.1%

1.4%

WW

 

559

 

576

-3.2%

-1.0%

-2.2%

   

2,276

 

2,243

1.4%

0.8%

0.6%

STELARA

                             

US

 

1,542

 

1,572

-1.9%

-1.9%

-

   

5,938

 

5,240

13.3%

13.3%

-

Intl

 

792

 

672

17.9%

21.7%

-3.8%

   

3,196

 

2,467

29.6%

25.9%

3.7%

WW

 

2,334

 

2,244

4.0%

5.1%

-1.1%

   

9,134

 

7,707

18.5%

17.3%

1.2%

TREMFYA

                             

US

 

528

 

276

90.9%

90.9%

-

   

1,503

 

926

62.3%

62.3%

-

Intl

 

165

 

105

56.9%

61.8%

-4.9%

   

624

 

421

48.2%

44.0%

4.2%

WW

 

693

 

382

81.5%

82.8%

-1.3%

   

2,127

 

1,347

57.9%

56.5%

1.4%

OTHER IMMUNOLOGY

                             

US

 

6

 

-

*

*

-

   

21

 

-

*

*

-

Intl

 

0

 

2

*

*

 * 

   

3

 

11

-73.3%

-74.6%

1.3%

WW

 

6

 

2

*

*

 * 

   

24

 

11

*

*

 * 

INFECTIOUS DISEASES

                             

US

 

614

 

470

30.8%

30.8%

-

   

2,249

 

1,735

29.7%

29.7%

-

Intl

 

1,824

 

442

*

*

-3.0%

   

3,612

 

1,839

96.3%

93.4%

2.9%

WW

 

2,437

 

912

*

*

-1.5%

   

5,861

 

3,574

64.0%

62.5%

1.5%

COVID-19 VACCINE

                             

US

 

213

 

-

*

*

-

   

634

 

-

*

*

-

Intl

 

1,405

 

-

*

*

-

   

1,751

 

-

*

*

-

WW

 

1,619

 

-

*

*

-

   

2,385

 

-

*

*

-

EDURANT / rilpivirine

                             

US

 

10

 

11

-15.8%

-15.8%

-

   

41

 

44

-7.6%

-7.6%

-

Intl

 

220

 

236

-6.8%

-3.3%

-3.5%

   

953

 

920

3.6%

0.4%

3.2%

WW

 

230

 

248

-7.2%

-3.9%

-3.3%

   

994

 

964

3.1%

0.0%

3.1%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA

                             

US

 

380

 

433

-12.2%

-12.2%

-

   

1,508

 

1,587

-4.9%

-4.9%

-

Intl

 

135

 

136

-0.1%

3.0%

-3.1%

   

575

 

597

-3.6%

-6.0%

2.4%

WW

 

515

 

569

-9.3%

-8.5%

-0.8%

   

2,083

 

2,184

-4.6%

-5.2%

0.6%

OTHER INFECTIOUS DISEASES

                             

US

 

11

 

25

-55.9%

-55.9%

-

   

66

 

104

-36.0%

-36.0%

-

Intl

 

63

 

71

-10.9%

-10.0%

-0.9%

   

333

 

323

3.0%

-0.1%

3.1%

WW

 

74

 

96

-22.9%

-22.2%

-0.7%

   

399

 

427

-6.5%

-8.9%

2.4%

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FOURTH QUARTER

 

TWELVE MONTHS

         

% Change

         

% Change

   

2021

 

2020

Reported

Operational (1)

Currency

   

2021

 

2020

Reported

Operational (1)

Currency

NEUROSCIENCE

                             

US

 

899

 

806

11.4%

11.4%

-

   

3,347

 

3,091

8.3%

8.3%

-

Intl

 

894

 

892

0.2%

3.2%

-3.0%

   

3,664

 

3,457

6.0%

3.9%

2.1%

WW

 

1,793

 

1,698

5.5%

7.1%

-1.6%

   

7,011

 

6,548

7.1%

5.9%

1.2%

CONCERTA / Methylphenidate

                             

US

 

55

 

33

68.1%

68.1%

-

   

172

 

183

-5.8%

-5.8%

-

Intl

 

123

 

120

3.2%

6.0%

-2.8%

   

495

 

439

12.8%

10.1%

2.7%

WW

 

178

 

153

17.2%

19.4%

-2.2%

   

667

 

622

7.3%

5.4%

1.9%

INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA

                             

US

 

668

 

610

9.5%

9.5%

-

   

2,550

 

2,314

10.2%

10.2%

-

Intl

 

361

 

355

1.5%

5.0%

-3.5%

   

1,472

 

1,339

10.0%

6.9%

3.1%

WW

 

1,029

 

965

6.5%

7.8%

-1.3%

   

4,022

 

3,653

10.1%

9.0%

1.1%

RISPERDAL CONSTA

                             

US

 

77

 

76

2.3%

2.3%

-

   

287

 

296

-2.9%

-2.9%

-

Intl

 

63

 

92

-30.3%

-26.4%

-3.9%

   

305

 

346

-11.8%

-13.1%

1.3%

WW

 

140

 

167

-15.6%

-13.4%

-2.2%

   

592

 

642

-7.7%

-8.4%

0.7%

OTHER NEUROSCIENCE

                             

US

 

99

 

88

11.7%

11.7%

-

   

338

 

298

13.3%

13.3%

-

Intl

 

346

 

326

6.2%

8.6%

-2.4%

   

1,391

 

1,334

4.3%

3.2%

1.1%

WW

 

445

 

414

7.4%

9.2%

-1.8%

   

1,729

 

1,632

6.0%

5.0%

1.0%

ONCOLOGY

                             

US

 

1,594

 

1,469

8.5%

8.5%

-

   

5,958

 

5,092

17.0%

17.0%

-

Intl

 

2,184

 

1,965

11.1%

15.2%

-4.1%

   

8,590

 

7,275

18.1%

15.3%

2.8%

WW

 

3,778

 

3,434

10.0%

12.3%

-2.3%

   

14,548

 

12,367

17.6%

16.0%

1.6%

DARZALEX

                             

US

 

867

 

692

25.3%

25.3%

-

   

3,169

 

2,232

42.0%

42.0%

-

Intl

 

778

 

561

38.9%

43.5%

-4.6%

   

2,854

 

1,958

45.8%

42.6%

3.2%

WW

 

1,645

 

1,253

31.4%

33.4%

-2.0%

   

6,023

 

4,190

43.8%

42.3%

1.5%

ERLEADA

                             

US

 

235

 

176

33.4%

33.4%

-

   

813

 

583

39.3%

39.3%

-

Intl

 

149

 

64

*

*

 * 

   

478

 

176

*

*

 * 

WW

 

384

 

241

59.8%

61.3%

-1.5%

   

1,291

 

760

70.0%

68.7%

1.3%

IMBRUVICA

                             

US

 

436

 

492

-11.3%

-11.3%

-

   

1,747

 

1,821

-4.0%

-4.0%

-

Intl

 

626

 

625

0.0%

3.4%

-3.4%

   

2,622

 

2,307

13.6%

10.4%

3.2%

WW

 

1,062

 

1,117

-5.0%

-3.1%

-1.9%

   

4,369

 

4,128

5.8%

4.1%

1.7%

ZYTIGA / abiraterone acetate

                             

US

 

23

 

89

-74.2%

-74.2%

-

   

119

 

373

-68.1%

-68.1%

-

Intl

 

525

 

533

-1.4%

3.1%

-4.5%

   

2,178

 

2,097

3.9%

1.5%

2.4%

WW

 

548

 

622

-11.8%

-7.9%

-3.9%

   

2,297

 

2,470

-7.0%

-9.0%

2.0%

OTHER ONCOLOGY

                             

US

 

34

 

20

64.7%

64.7%

-

   

110

 

83

31.7%

31.7%

-

Intl

 

106

 

183

-42.0%

-39.2%

-2.8%

   

458

 

738

-37.9%

-38.7%

0.8%

WW

 

140

 

202

-31.3%

-28.8%

-2.5%

   

568

 

821

-30.8%

-31.5%

0.7%

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FOURTH QUARTER

 

TWELVE MONTHS

         

% Change

         

% Change

   

2021

 

2020

Reported

Operational (1)

Currency

   

2021

 

2020

Reported

Operational (1)

Currency

PULMONARY HYPERTENSION

                             

US

 

587

 

592

-0.7%

-0.7%

-

   

2,365

 

2,133

10.9%

10.9%

-

Intl

 

264

 

273

-3.6%

0.8%

-4.4%

   

1,085

 

1,015

6.9%

5.5%

1.4%

WW

 

851

 

865

-1.6%

-0.2%

-1.4%

   

3,450

 

3,148

9.6%

9.2%

0.4%

OPSUMIT

                             

US

 

286

 

279

2.0%

2.0%

-

   

1,147

 

1,008

13.7%

13.7%

-

Intl

 

162

 

173

-6.1%

-1.7%

-4.4%

   

672

 

631

6.6%

5.1%

1.5%

WW

 

448

 

452

-1.1%

0.6%

-1.7%

   

1,819

 

1,639

11.0%

10.4%

0.6%

UPTRAVI

                             

US

 

264

 

263

0.0%

0.0%

-

   

1,056

 

955

10.5%

10.5%

-

Intl

 

46

 

38

21.9%

24.7%

-2.8%

   

181

 

138

31.1%

27.0%

4.1%

WW

 

310

 

301

2.7%

3.1%

-0.4%

   

1,237

 

1,093

13.1%

12.6%

0.5%

OTHER PULMONARY HYPERTENSION

                             

US

 

38

 

49

-20.1%

-20.1%

-

   

163

 

169

-3.7%

-3.7%

-

Intl

 

56

 

63

-12.2%

-6.6%

-5.6%

   

232

 

247

-5.9%

-5.4%

-0.5%

WW

 

94

 

112

-15.6%

-12.4%

-3.2%

   

395

 

416

-5.0%

-4.7%

-0.3%

CARDIOVASCULAR / METABOLISM / OTHER

                             

US

 

813

 

935

-13.1%

-13.1%

-

   

3,192

 

3,509

-9.0%

-9.0%

-

Intl

 

261

 

317

-17.8%

-16.0%

-1.8%

   

1,268

 

1,369

-7.4%

-10.9%

3.5%

WW

 

1,074

 

1,253

-14.3%

-13.8%

-0.5%

   

4,460

 

4,878

-8.6%

-9.6%

1.0%

XARELTO

                             

US

 

644

 

629

2.5%

2.5%

-

   

2,438

 

2,345

4.0%

4.0%

-

Intl

 

-

 

-

-

-

-

   

-

 

-

-

-

-

WW

 

644

 

629

2.5%

2.5%

-

   

2,438

 

2,345

4.0%

4.0%

-

INVOKANA / INVOKAMET

                             

US

 

59

 

159

-63.1%

-63.1%

-

   

308

 

564

-45.4%

-45.4%

-

Intl

 

60

 

58

3.8%

4.5%

-0.7%

   

254

 

231

9.9%

5.4%

4.5%

WW

 

120

 

217

-45.1%

-44.9%

-0.2%

   

563

 

795

-29.3%

-30.6%

1.3%

PROCRIT / EPREX

                             

US

 

55

 

62

-12.8%

-12.8%

-

   

223

 

277

-19.7%

-19.7%

-

Intl

 

58

 

66

-13.0%

-11.7%

-1.3%

   

256

 

274

-6.8%

-10.1%

3.3%

WW

 

113

 

129

-12.9%

-12.2%

-0.7%

   

479

 

552

-13.3%

-14.9%

1.6%

OTHER

                             

US

 

55

 

85

-35.6%

-35.6%

-

   

223

 

323

-31.0%

-31.0%

-

Intl

 

143

 

194

-25.9%

-23.8%

-2.1%

   

758

 

864

-12.2%

-15.5%

3.3%

WW

 

198

 

278

-28.9%

-27.4%

-1.5%

   

981

 

1,186

-17.3%

-19.7%

2.4%

TOTAL PHARMACEUTICAL

                             

US

 

7,418

 

7,116

4.2%

4.2%

-

   

27,954

 

25,735

8.6%

8.6%

-

Intl

 

6,870

 

5,152

33.4%

36.9%

-3.5%

   

24,126

 

19,837

21.6%

18.8%

2.8%

WW

 

$        14,288

 

12,268

16.5%

17.9%

-1.4%

   

$        52,080

 

45,572

14.3%

13.1%

1.2%

                               

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FOURTH QUARTER

 

TWELVE MONTHS

         

% Change

         

% Change

MEDICAL DEVICES SEGMENT (2)

 

2021

 

2020

Reported

Operational (1)

Currency

   

2021

 

2020

Reported

Operational (1)

Currency

                               

INTERVENTIONAL SOLUTIONS

                             

US

 

$          483

 

433

11.6%

11.6%

-

   

1,836

 

1,452

26.4%

26.4%

-

Intl

 

536

 

460

16.5%

18.8%

-2.3%

   

2,135

 

1,594

34.0%

29.8%

4.2%

WW

 

1,019

 

893

14.1%

15.3%

-1.2%

   

3,971

 

3,046

30.4%

28.2%

2.2%

ORTHOPAEDICS

                             

US 

 

1,305

 

1,352

-3.5%

-3.5%

-

   

5,126

 

4,779

7.3%

7.3%

-

Intl

 

851

 

839

1.5%

3.9%

-2.4%

   

3,462

 

2,984

16.0%

12.1%

3.9%

WW

 

2,155

 

2,191

-1.6%

-0.7%

-0.9%

   

8,588

 

7,763

10.6%

9.1%

1.5%

HIPS

                             

US

 

229

 

229

0.4%

0.4%

-

   

883

 

793

11.4%

11.4%

-

Intl

 

151

 

143

4.9%

6.5%

-1.6%

   

602

 

487

23.6%

18.9%

4.7%

WW

 

380

 

372

2.1%

2.7%

-0.6%

   

1,485

 

1,280

16.0%

14.3%

1.7%

KNEES

                             

US

 

208

 

216

-4.2%

-4.2%

-

   

787

 

743

5.9%

5.9%

-

Intl

 

135

 

129

4.6%

6.5%

-1.9%

   

538

 

427

26.1%

21.7%

4.4%

WW

 

342

 

345

-0.9%

-0.2%

-0.7%

   

1,325

 

1,170

13.3%

11.7%

1.6%

TRAUMA

                             

US

 

467

 

454

2.8%

2.8%

-

   

1,819

 

1,648

10.4%

10.4%

-

Intl

 

261

 

268

-2.4%

0.7%

-3.1%

   

1,066

 

966

10.4%

7.1%

3.3%

WW

 

728

 

722

0.9%

2.0%

-1.1%

   

2,885

 

2,614

10.4%

9.2%

1.2%

SPINE, SPORTS & OTHER

                             

US

 

401

 

453

-11.4%

-11.4%

-

   

1,637

 

1,595

2.6%

2.6%

-

Intl

 

304

 

299

2.0%

4.3%

-2.3%

   

1,256

 

1,104

13.8%

9.9%

3.9%

WW

 

706

 

752

-6.1%

-5.2%

-0.9%

   

2,893

 

2,699

7.2%

5.6%

1.6%

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FOURTH QUARTER

 

TWELVE MONTHS

         

% Change

         

% Change

   

2021

 

2020

Reported

Operational (1)

Currency

   

2021

 

2020

Reported

Operational (1)

Currency

SURGERY

                             

US

 

986

 

1,002

-1.7%

-1.7%

-

   

3,867

 

3,249

19.0%

19.0%

-

Intl

 

1,527

 

1,427

7.0%

8.7%

-1.7%

   

5,945

 

4,983

19.3%

15.6%

3.7%

WW

 

2,513

 

2,429

3.5%

4.4%

-0.9%

   

9,812

 

8,232

19.2%

17.0%

2.2%

ADVANCED

                             

US

 

457

 

456

0.5%

0.5%

-

   

1,761

 

1,535

14.9%

14.9%

-

Intl

 

735

 

660

11.2%

12.6%

-1.4%

   

2,861

 

2,304

24.1%

20.0%

4.1%

WW

 

1,192

 

1,116

6.8%

7.6%

-0.8%

   

4,622

 

3,839

20.4%

18.0%

2.4%

GENERAL

                             

US

 

528

 

546

-3.4%

-3.4%

-

   

2,105

 

1,714

22.7%

22.7%

-

Intl

 

793

 

767

3.4%

5.3%

-1.9%

   

3,085

 

2,679

15.2%

11.8%

3.4%

WW

 

1,321

 

1,312

0.6%

1.7%

-1.1%

   

5,190

 

4,392

18.1%

16.1%

2.0%

VISION

                             

US

 

443

 

397

11.4%

11.4%

-

   

1,857

 

1,557

19.3%

19.3%

-

Intl

 

728

 

679

7.2%

10.8%

-3.6%

   

2,831

 

2,362

19.8%

18.8%

1.0%

WW

 

1,171

 

1,076

8.7%

11.0%

-2.3%

   

4,688

 

3,919

19.6%

19.0%

0.6%

CONTACT LENSES / OTHER

                             

US

 

316

 

289

9.4%

9.4%

-

   

1,398

 

1,213

15.2%

15.2%

-

Intl

 

518

 

507

1.9%

5.8%

-3.9%

   

2,043

 

1,781

14.7%

14.0%

0.7%

WW

 

833

 

796

4.6%

7.1%

-2.5%

   

3,440

 

2,994

14.9%

14.5%

0.4%

SURGICAL

                             

US

 

126

 

108

16.8%

16.8%

-

   

459

 

344

33.5%

33.5%

-

Intl

 

211

 

172

22.9%

25.4%

-2.5%

   

788

 

581

35.7%

33.3%

2.4%

WW

 

338

 

280

20.5%

22.1%

-1.6%

   

1,248

 

925

34.9%

33.4%

1.5%

                               

TOTAL MEDICAL DEVICES

                             

US

 

3,216

 

3,184

1.0%

1.0%

-

   

12,686

 

11,036

14.9%

14.9%

-

Intl

 

3,643

 

3,405

7.0%

9.3%

-2.3%

   

14,374

 

11,923

20.6%

17.3%

3.3%

WW

 

$          6,859

 

6,589

4.1%

5.3%

-1.2%

   

$        27,060

 

22,959

17.9%

16.2%

1.7%

                               
                               

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.

The Company estimates that the inclusion of an additional week in the 2020 fiscal year impacted fiscal fourth quarter 2021 comparative sales growth by
approximately -4% and impacted full year fiscal 2021 comparative sales growth by approximately -1%. 

       
       
                               

* Percentage greater than 100% or not meaningful

                         

(1) Operational growth excludes the effect of translational currency

                       

(2) Unaudited

                             

(3) Certain prior year amounts have been reclassified to conform to current year product disclosures

               

(4) Reported as U.S. sales

                             

 

(PRNewsfoto/Johnson & Johnson)

 

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/johnson--johnson-reports-q4-and-full-year-2021-results-301467057.html

SOURCE Johnson & Johnson

 
 
Company Codes: NYSE:JNJ
 

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