10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JOHNSON & JOHNSON | |||
Ticker: JNJ Fiscal Year: 2014 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 28, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 28, 2014 | Dec 29, 2013 | Dec 30, 2012 | |
| Sales to customers | $ 74,331 | 71,312 | 67,224 |
| Cost of products sold | 22,746 | 22,342 | 21,658 |
| Gross profit | 51,585 | 48,970 | 45,566 |
| Selling, marketing and administrative expenses | 21,954 | 21,830 | 20,869 |
| Research and development expense | 8,494 | 8,183 | 7,665 |
| In-process research and development | 178 | 580 | 1,163 |
| Interest income | (67) | (74) | (64) |
| Interest expense, net of portion capitalized (Note 4) | 533 | 482 | 532 |
| Other (income) expense, net | (70) | 2,498 | 1,626 |
| Earnings before provision for taxes on income | 20,563 | 15,471 [1] | 13,775 |
| Provision for taxes on income (Note 8) | 4,240 | 1,640 | 3,261 |
| Net earnings | 16,323 | 13,831 | 10,514 |
| Add: Net loss attributable to noncontrolling interest | 0 | 0 | 339 |
| Net earnings attributable to Johnson & Johnson | 16,323 | 13,831 | 10,853 |
| Net earnings per share attributable to Johnson & Johnson (Notes 1 and 15) | |||
| Basic | 5.80 | 4.92 | 3.94 |
| Diluted | 5.70 | 4.81 | 3.86 |
| Cash dividends per share | 2.76 | 2.59 | 2.40 |
| Average shares outstanding (Notes 1 and 15) | |||
| Basic | 2,815,200 | 2,809,200 | 2,753,300 |
| Diluted | 2,863,900 | 2,877,000 | 2,812,600 |
| [1] Includes $2,276 million of net litigation expense comprised of $1,975 million and $301 million in the Medical Devices and Pharmaceutical segments, respectively. Includes $683 million of Synthes integration/transaction costs in the Medical Devices segment. Includes $580 million of in-process research and development expense, comprised of $514 million and $66 million in the Pharmaceutical and Medical Devices segments, respectively. The Medical Devices segment also includes $251 million expense for the cost as | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JOHNSON & JOHNSON | |||
Ticker: JNJ Fiscal Year: 2014 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 28, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 28, 2014 | Dec 29, 2013 | Dec 30, 2012 | |
| Net Earnings | $ 16,323 | 13,831 | 10,514 |
| Other Comprehensive Income (Loss), net of tax | |||
| Foreign currency translation | (4,601) | 94 | 1,230 |
| Securities | |||
| Unrealized holding gain (loss) arising during period | 156 | 225 | (248) |
| Reclassifications to earnings | (5) | (314) | (5) |
| Net change | 151 | (89) | (253) |
| Employee benefit plans | |||
| Prior service cost amortization during period | (18) | 9 | 2 |
| Prior service credit (cost) - current year | 211 | (27) | (8) |
| Gain amortization during period | 400 | 515 | 370 |
| Gain (loss) - current year | (4,098) | 2,203 | (1,643) |
| Effect of exchange rates | 197 | 8 | (52) |
| Net change | (3,308) | 2,708 | (1,331) |
| Derivatives & hedges | |||
| Unrealized gain (loss) arising during period | 92 | 344 | 52 |
| Reclassifications to earnings | (196) | (107) | 124 |
| Net change | (104) | 237 | 176 |
| Other comprehensive income (loss) | (7,862) | 2,950 | (178) |
| Total comprehensive income | 8,461 | 16,781 | 10,336 |
| Comprehensive loss attributable to noncontrolling interest, net of tax | 0 | 0 | 339 |
| Comprehensive income attributable to Johnson & Johnson | 8,461 | 16,781 | 10,675 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JOHNSON & JOHNSON | |||
Ticker: JNJ Fiscal Year: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 28, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 28, 2014 | Dec 29, 2013 | Dec 30, 2012 | |
| CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net Earnings | $ 16,323 | 13,831 | 10,514 |
| Adjustments to reconcile net earnings to cash flows from operating activities: | |||
| Depreciation and amortization of property and intangibles | 3,895 | 4,104 | 3,666 |
| Stock based compensation | 792 | 728 | 662 |
| Noncontrolling interest | 0 | 0 | 339 |
| Venezuela adjustments | 87 | 108 | 0 |
| Asset write-downs | 410 | 739 | 2,131 |
| Net gain on sale of assets/businesses | (2,383) | (113) | (908) |
| Net gain on equity investment transactions | 0 | (417) | 0 |
| Deferred tax provision | 441 | (607) | (39) |
| Accounts receivable allowances | (28) | (131) | 92 |
| Changes in assets and liabilities, net of effects from acquisitions: | |||
| Increase in accounts receivable | (247) | (632) | (9) |
| Increase in inventories | (1,120) | (622) | (1) |
| Increase in accounts payable and accrued liabilities | 955 | 1,821 | 2,768 |
| Decrease/(Increase) in other current and non-current assets | 442 | (1,693) | (1,264) |
| (Decrease)/Increase in other current and non-current liabilities | (1,096) | 298 | (2,555) |
| Net cash flows from operating activities | 18,471 | 17,414 | 15,396 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Additions to property, plant and equipment | (3,714) | (3,595) | (2,934) |
| Proceeds from the disposal of assets/businesses, net | 4,631 | 458 | 1,509 |
| Acquisitions, net of cash acquired (Note 20) | (2,129) | (835) | (4,486) |
| Purchases of investments | (34,913) | (18,923) | (13,434) |
| Sales of investments | 24,119 | 18,058 | 14,797 |
| Other (primarily intangibles) | (299) | (266) | 38 |
| Net cash used by investing activities | (12,305) | (5,103) | (4,510) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Dividends to shareholders | (7,768) | (7,286) | (6,614) |
| Repurchase of common stock | (7,124) | (3,538) | (12,919) |
| Proceeds from short-term debt | 1,863 | 1,411 | 3,268 |
| Retirement of short-term debt | (1,267) | (1,397) | (6,175) |
| Proceeds from long-term debt | 2,098 | 3,607 | 45 |
| Retirement of long-term debt | (1,844) | (1,593) | (804) |
| Proceeds from the exercise of stock options/excess tax benefits | 1,782 | 2,649 | 2,720 |
| Other | 0 | 56 | (83) |
| Net cash used by financing activities | (12,260) | (6,091) | (20,562) |
| Effect of exchange rate changes on cash and cash equivalents | (310) | (204) | 45 |
| (Decrease)/Increase in cash and cash equivalents | (6,404) | 6,016 | (9,631) |
| Cash and cash equivalents, beginning of year (Note 1) | 20,927 | 14,911 | |
| Cash and cash equivalents, end of year (Note 1) | 14,523 | 20,927 | 14,911 |
| Supplemental Cash Flow Data | |||
| Interest | 603 | 596 | 616 |
| Interest, net of amount capitalized | 488 | 491 | 501 |
| Income taxes | 3,536 | 3,155 | 2,507 |
| Supplemental schedule of non-cash investing and financing activities | |||
| Treasury Stock Issued For Employee Compensation And Stock Option Plans Net Of Cash Proceeds | 1,170 | 743 | 615 |
| Conversion of debt | 17 | 22 | 0 |
| Acquisitions | |||
| Fair value of assets acquired | 2,167 | 1,028 | 19,025 |
| Fair value of liabilities assumed and non-controlling interests | (38) | (193) | (1,204) |
| Net fair value of acquisitions | 2,129 | 835 | 17,821 |
| Net cash paid for aquisitions | 2,129 | 835 | 4,486 |
| Statement, Business Segments | |||
| Synthes, Inc | |||
| Issuance of common stock associated with the acquisition of Synthes, Inc. | 0 | 0 | 13,335 |
| Issuance of common stock associated with the acquisition of Synthes, Inc. | 0 | 0 | 13,335 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
JOHNSON & JOHNSON | ||
Ticker: JNJ Fiscal Year: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 28, 2014 10-K (Filed: Feb 24, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 28, 2014 | Dec 29, 2013 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents (Notes 1 and 2) | $ 14,523 | 20,927 |
| Marketable securities (Notes 1 and 2) | 18,566 | 8,279 |
| Accounts receivable trade, less allowances for doubtful accounts $275 (2013, $333) | 10,985 | 11,713 |
| Inventories (Notes 1 and 3) | 8,184 | 7,878 |
| Deferred taxes on income (Note 8) | 3,567 | 3,607 |
| Prepaid expenses and other receivables | 3,486 | 4,003 |
| Total current assets | 59,311 | 56,407 |
| Property, plant and equipment, net (Notes 1 and 4) | 16,126 | 16,710 |
| Intangible assets, net (Notes 1 and 5) | 27,222 | 27,947 |
| Goodwill (Notes 1 and 5) | 21,832 | 22,798 |
| Deferred taxes on income (Note 8) | 3,396 | 3,872 |
| Other assets | 3,232 | 4,949 |
| Total assets | 131,119 | 132,683 |
| Liabilities and Shareholders' Equity | ||
| Current liabilities: | ||
| Loans and notes payable (Note 7) | 3,638 | 4,852 |
| Accounts payable | 7,633 | 6,266 |
| Accrued liabilities | 6,553 | 7,685 |
| Accrued rebates, returns and promotions | 4,010 | 3,308 |
| Accrued compensation and employee related obligations | 2,751 | 2,794 |
| Accrued taxes on income | 500 | 770 |
| Total current liabilities | 25,085 | 25,675 |
| Long-term debt (Note 7) | 15,122 | 13,328 |
| Deferred taxes on income (Note 8) | 3,154 | 3,989 |
| Employee related obligations (Notes 9 and 10) | 9,972 | 7,784 |
| Other liabilities | 8,034 | 7,854 |
| Total liabilities | 61,367 | 58,630 |
| Shareholders' equity: | ||
| Preferred stock without par value (authorized and unissued 2,000,000 shares) | 0 | 0 |
| Common stock par value $1.00 per share (Note 12) (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | 3,120 | 3,120 |
| Accumulated other comprehensive income (Note 13) | (10,722) | (2,860) |
| Retained earnings | 97,245 | 89,493 |
| Stockholders' Equity before Treasury Stock | 89,643 | 89,753 |
| Less: common stock held in treasury, at cost (Note 12) (336,620,000 shares and 299,215,000 shares) | 19,891 | 15,700 |
| Total shareholders equity | 69,752 | 74,053 |
| Total liabilities and shareholders equity | 131,119 | 132,683 |
| External Links | |
| JOHNSON & JOHNSON (JNJ) Fiscal Year 2014 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |