10-K.Info (Beta Test)
Courtesy of Short Sands, LLC
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

JOHNSON & JOHNSON

Ticker: JNJ   Fiscal Year: 2021

Consolidated Statements of Earnings

Period Ending Jan 2, 2022 10-K (Filed: Feb 17, 2022)

(In Millions, except shares in Thousands)
 12 Months Ended12 Months Ended12 Months Ended
 Jan 2, 2022Jan 3, 2021Dec 29, 2019
Sales to customers
$
93,775
82,58482,059
Cost of products sold29,85528,42727,556
Gross profit63,92054,15754,503
 
Selling, marketing and administrative expenses24,65922,08422,178
Research and development expense14,71412,15911,355
In-process research and development (Note 5)900181890
Interest income(53)(111)(357)
Interest expense, net of portion capitalized (Note 4)183201318
Other (income) expense, net4892,8992,525
Restructuring (Note 20)252247266
Earnings before provision for taxes on income22,77616,49717,328
 
Provision for taxes on income (Note 8)1,8981,7832,209
Net earnings20,87814,71415,119
 
Net earnings per share (Notes 1 and 15)
Basic (in dollars per share)7.935.595.72
Diluted (in dollars per share)7.815.515.63
Average shares outstanding (Notes 1 and 15)
Basic (in shares)2,632,1002,632,8002,645,100
Diluted (in shares)2,674,0002,670,7002,684,300
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JOHNSON & JOHNSON

Ticker: JNJ   Fiscal Year: 2021

Consolidated Statements of Comprehensive Income

Period Ending Jan 2, 2022 10-K (Filed: Feb 17, 2022)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Jan 2, 2022Jan 3, 2021Dec 29, 2019
Net earnings
$
20,878
14,71415,119
Other comprehensive income (loss), net of tax
Foreign currency translation(1,079)(233)164
Securities:
Unrealized holding gain (loss) arising during period(4)10
Reclassifications to earnings000
Net change(4)10
 
Employee benefit plans:
Prior service credit (cost), net of amortization(169)1,298(18)
Gain (loss), net of amortization4,318(1,135)(714)
Effect of exchange rates106(229)(1)
Net change4,255(66)(733)
Derivatives & hedges:
Unrealized gain (loss) arising during period(199)1,000(107)
Reclassifications to earnings(789)(53)7
Net change(988)947(100)
 
Other comprehensive income (loss)2,184649(669)
 
Comprehensive income23,06215,36314,450
 
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JOHNSON & JOHNSON

Ticker: JNJ   Fiscal Year: 2021

Consolidated Statements of Cash Flows

Period Ending Jan 2, 2022 10-K (Filed: Feb 17, 2022)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Jan 2, 2022Jan 3, 2021Dec 29, 2019
Cash flows from operating activities
Net earnings
$
20,878
14,71415,119
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property and intangibles7,3907,2317,009
Stock based compensation1,1351,005977
Asset write-downs9892331,096
Contingent consideration reversal0(1,148)0
Net gain on sale of assets/businesses(617)(111)(2,154)
Deferred tax provision(2,079)(1,141)(2,476)
Credit losses and accounts receivable allowances(48)63(20)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:
(Increase)/Decrease in accounts receivable(2,402)774(289)
Increase in inventories(1,248)(265)(277)
Increase in accounts payable and accrued liabilities2,4375,1414,060
Increase in other current and non-current assets(1,964)(3,704)(1,054)
(Decrease)/Increase in other current and non-current liabilities(1,061)7441,425
Net cash flows from operating activities23,41023,53623,416
 
Cash flows from investing activities
Additions to property, plant and equipment(3,652)(3,347)(3,498)
Proceeds from the disposal of assets/businesses, net7113053,265
Acquisitions, net of cash acquired (Note 18)(60)(7,323)(5,810)
Purchases of investments(30,394)(21,089)(3,920)
Sales of investments25,00612,1373,387
Credit support agreements activity, net214(987)338
Other (primarily licenses and milestones)(508)(521)44
Net cash used by investing activities(8,683)(20,825)(6,194)
 
Cash flows from financing activities
Dividends to shareholders(11,032)(10,481)(9,917)
Repurchase of common stock(3,456)(3,221)(6,746)
Proceeds from short-term debt1,9973,39139
Repayment of short-term debt(1,190)(2,663)(100)
Proceeds from long-term debt, net of issuance costs57,4313
Repayment of long-term debt(1,802)(1,064)(2,823)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net1,0361,114954
Credit support agreements activity, net281(333)100
Other114(294)475
Net cash used by financing activities(14,047)(6,120)(18,015)
 
Effect of exchange rate changes on cash and cash equivalents(178)89(9)
Increase/(Decrease) in cash and cash equivalents502(3,320)(802)
 
Cash and cash equivalents, beginning of year (Note 1)13,98517,305
Cash and cash equivalents, end of year (Note 1)14,48713,98517,305
 
Supplemental cash flow data
Cash paid during the year for:
Interest990904995
Interest, net of amount capitalized941841925
Income taxes4,7684,6194,191
Supplemental schedule of non-cash investing and financing activities
Treasury stock issued for employee compensation and stock option plans, net of cash proceeds/ employee withholding tax on stock awards1,8111,9371,736
Conversion of debt0271
Acquisitions
Fair value of assets acquired617,7557,228
Fair value of liabilities assumed and noncontrolling interests(1)(432)(1,418)
Net cash paid for acquisitions (Note 18)607,3235,810
 
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JOHNSON & JOHNSON

Ticker: JNJ   Fiscal Year: 2021

Consolidated Balance Sheets

Period Ending Jan 2, 2022 10-K (Filed: Feb 17, 2022)

(In Millions, except shares in actual)
 As ofAs of
 Jan 2, 2022Jan 3, 2021
Assets
Current assets:
Cash and cash equivalents (Notes 1 and 2)
$
14,487
13,985
Marketable securities (Notes 1 and 2)17,12111,200
Accounts receivable trade, less allowances for doubtful accounts $230 (2020, $293)15,28313,576
Inventories (Notes 1 and 3)10,3879,344
Prepaid expenses and other receivables3,7013,132
Total current assets60,97951,237
 
Property, plant and equipment, net (Notes 1 and 4)18,96218,766
Intangible assets, net (Notes 1 and 5)46,39253,402
Goodwill (Notes 1 and 5)35,24636,393
Deferred taxes on income (Note 8)10,2238,534
Other assets10,2166,562
Total assets182,018174,894
 
Liabilities and Shareholders Equity
Current liabilities
Loans and notes payable (Note 7)3,7662,631
Accounts payable11,0559,505
Accrued liabilities13,61213,968
Accrued rebates, returns and promotions12,09511,513
Accrued compensation and employee related obligations3,5863,484
Accrued taxes on income (Note 8)1,1121,392
Total current liabilities45,22642,493
 
Long-term debt (Note 7)29,98532,635
Deferred taxes on income (Note 8)7,4877,214
Employee related obligations (Notes 9 and 10)8,89810,771
Long-term taxes payable (Note 1)5,7136,559
Other liabilities10,68611,944
Total liabilities107,995111,616
 
Commitments and Contingencies (Note 19)  
Shareholders equity
Preferred stock without par value (authorized and unissued 2,000,000 shares)00
Common stock par value $1.00 per share (Note 12) (authorized 4,320,000,000 shares; issued 3,119,843,000 shares)3,1203,120
Accumulated other comprehensive income (loss) (Note 13)(13,058)(15,242)
Retained earnings123,060113,890
Stockholders' Equity before Treasury Stock113,122101,768
 
Less: common stock held in treasury, at cost (Note 12) (490,878,000 shares and 487,331,000 shares)39,09938,490
Total shareholders equity74,02363,278
 
Total liabilities and shareholders equity182,018174,894
 
External Links 
JOHNSON & JOHNSON (JNJ) Fiscal Year 2021
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