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: 2022 | |||
Consolidated Statements of Earnings | |||
Period Ending Jan 1, 2023 10-K (Filed: Feb 16, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 1, 2023 | Jan 2, 2022 | Jan 3, 2021 | |
| Sales to customers | $ 94,943 | 93,775 | 82,584 |
| Cost of products sold | 31,089 | 29,855 | 28,427 |
| Gross profit | 63,854 | 63,920 | 54,157 |
| Selling, marketing and administrative expenses | 24,765 | 24,659 | 22,084 |
| Research and development expense | 14,603 | 14,714 | 12,159 |
| In-process research and development (Note 5) | 783 | 900 | 181 |
| Interest income | (490) | (53) | (111) |
| Interest expense, net of portion capitalized (Note 4) | 276 | 183 | 201 |
| Other (income) expense, net | 1,871 | 489 | 2,899 |
| Restructuring (Note 20) | 321 | 252 | 247 |
| Earnings before provision for taxes on income | 21,725 | 22,776 | 16,497 |
| Provision for taxes on income (Note 8) | 3,784 | 1,898 | 1,783 |
| Net earnings | 17,941 | 20,878 | 14,714 |
| Net earnings per share (Notes 1 and 15) | |||
| Basic (in dollars per share) | 6.83 | 7.93 | 5.59 |
| Diluted (in dollars per share) | 6.73 | 7.81 | 5.51 |
| Average shares outstanding (Notes 1 and 15) | |||
| Basic (in shares) | 2,625,200 | 2,632,100 | 2,632,800 |
| Diluted (in shares) | 2,663,900 | 2,674,000 | 2,670,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JOHNSON & JOHNSON | |||
Ticker: JNJ Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Jan 1, 2023 10-K (Filed: Feb 16, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 1, 2023 | Jan 2, 2022 | Jan 3, 2021 | |
| Net earnings | $ 17,941 | 20,878 | 14,714 |
| Other comprehensive income (loss), net of tax | |||
| Foreign currency translation | (1,796) | (1,079) | (233) |
| Securities: | |||
| Unrealized holding gain (loss) arising during period | (24) | (4) | 1 |
| Reclassifications to earnings | 0 | 0 | 0 |
| Net change | (24) | (4) | 1 |
| Employee benefit plans: | |||
| Prior service credit (cost), net of amortization | (160) | (169) | 1,298 |
| Gain (loss), net of amortization | 1,854 | 4,318 | (1,135) |
| Effect of exchange rates | 111 | 106 | (229) |
| Net change | 1,805 | 4,255 | (66) |
| Derivatives & hedges: | |||
| Unrealized gain (loss) arising during period | 454 | (199) | 1,000 |
| Reclassifications to earnings | (348) | (789) | (53) |
| Net change | 106 | (988) | 947 |
| Other comprehensive income (loss) | 91 | 2,184 | 649 |
| Comprehensive income | 18,032 | 23,062 | 15,363 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
JOHNSON & JOHNSON | |||
Ticker: JNJ Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Jan 1, 2023 10-K (Filed: Feb 16, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Jan 1, 2023 | Jan 2, 2022 | Jan 3, 2021 | |
| Cash flows from operating activities | |||
| Net earnings | $ 17,941 | 20,878 | 14,714 |
| Adjustments to reconcile net earnings to cash flows from operating activities: | |||
| Depreciation and amortization of property and intangibles | 6,970 | 7,390 | 7,231 |
| Stock based compensation | 1,138 | 1,135 | 1,005 |
| Asset write-downs | 1,216 | 989 | 233 |
| Contingent consideration reversal | 0 | 0 | (1,148) |
| Net gain on sale of assets/businesses | (380) | (617) | (111) |
| Deferred tax provision | (1,663) | (2,079) | (1,141) |
| Credit losses and accounts receivable allowances | (17) | (48) | 63 |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | |||
| (Increase)/Decrease in accounts receivable | (1,290) | (2,402) | 774 |
| Increase in inventories | (2,527) | (1,248) | (265) |
| Increase in accounts payable and accrued liabilities | 1,098 | 2,437 | 5,141 |
| Decrease/(Increase) in other current and non-current assets | 687 | (1,964) | (3,704) |
| (Decrease)/Increase in other current and non-current liabilities | (1,979) | (1,061) | 744 |
| Net cash flows from operating activities | 21,194 | 23,410 | 23,536 |
| Cash flows from investing activities | |||
| Additions to property, plant and equipment | (4,009) | (3,652) | (3,347) |
| Proceeds from the disposal of assets/businesses, net | 543 | 711 | 305 |
| Acquisitions, net of cash acquired (Note 18) | (17,652) | (60) | (7,323) |
| Purchases of investments | (32,384) | (30,394) | (21,089) |
| Sales of investments | 41,609 | 25,006 | 12,137 |
| Credit support agreements activity, net | (249) | 214 | (987) |
| Other (primarily licenses and milestones) | (229) | (508) | (521) |
| Net cash used by investing activities | (12,371) | (8,683) | (20,825) |
| Cash flows from financing activities | |||
| Dividends to shareholders | (11,682) | (11,032) | (10,481) |
| Repurchase of common stock | (6,035) | (3,456) | (3,221) |
| Proceeds from short-term debt | 16,134 | 1,997 | 3,391 |
| Repayment of short-term debt | (6,550) | (1,190) | (2,663) |
| Proceeds from long-term debt, net of issuance costs | 2 | 5 | 7,431 |
| Repayment of long-term debt | (2,134) | (1,802) | (1,064) |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | 1,329 | 1,036 | 1,114 |
| Credit support agreements activity, net | (28) | 281 | (333) |
| Other | 93 | 114 | (294) |
| Net cash used by financing activities | (8,871) | (14,047) | (6,120) |
| Effect of exchange rate changes on cash and cash equivalents | (312) | (178) | 89 |
| (Decrease)/Increase in cash and cash equivalents | (360) | 502 | (3,320) |
| Cash and cash equivalents, beginning of year (Note 1) | 14,487 | 13,985 | |
| Cash and cash equivalents, end of year (Note 1) | 14,127 | 14,487 | 13,985 |
| Supplemental cash flow data | |||
| Cash paid during the year for: | |||
| Interest | 982 | 990 | 904 |
| Interest, net of amount capitalized | 933 | 941 | 841 |
| Income taxes | 5,223 | 4,768 | 4,619 |
| 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 awards | 2,114 | 1,811 | 1,937 |
| Conversion of debt | 0 | 0 | 27 |
| Acquisitions | |||
| Fair value of assets acquired | 18,710 | 61 | 7,755 |
| Fair value of liabilities assumed | (1,058) | (1) | (432) |
| Net cash paid for acquisitions (Note 18) | 17,652 | 60 | 7,323 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
JOHNSON & JOHNSON | ||
Ticker: JNJ Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Jan 1, 2023 10-K (Filed: Feb 16, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Jan 1, 2023 | Jan 2, 2022 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents (Notes 1 and 2) | $ 14,127 | 14,487 |
| Marketable securities (Notes 1 and 2) | 9,392 | 17,121 |
| Accounts receivable trade, less allowances for doubtful accounts $203 (2021, $230) | 16,160 | 15,283 |
| Inventories (Notes 1 and 3) | 12,483 | 10,387 |
| Prepaid expenses and other receivables | 3,132 | 3,701 |
| Total current assets | 55,294 | 60,979 |
| Property, plant and equipment, net (Notes 1 and 4) | 19,803 | 18,962 |
| Intangible assets, net (Notes 1 and 5) | 48,325 | 46,392 |
| Goodwill (Notes 1 and 5) | 45,231 | 35,246 |
| Deferred taxes on income (Note 8) | 9,123 | 10,223 |
| Other assets | 9,602 | 10,216 |
| Total assets | 187,378 | 182,018 |
| Liabilities and Shareholders Equity | ||
| Current liabilities | ||
| Loans and notes payable (Note 7) | 12,771 | 3,766 |
| Accounts payable | 11,703 | 11,055 |
| Accrued liabilities | 11,456 | 13,612 |
| Accrued rebates, returns and promotions | 14,417 | 12,095 |
| Accrued compensation and employee related obligations | 3,328 | 3,586 |
| Accrued taxes on income (Note 8) | 2,127 | 1,112 |
| Total current liabilities | 55,802 | 45,226 |
| Long-term debt (Note 7) | 26,888 | 29,985 |
| Deferred taxes on income (Note 8) | 6,374 | 7,487 |
| Employee related obligations (Notes 9 and 10) | 6,767 | 8,898 |
| Long-term taxes payable (Note 1) | 4,306 | 5,713 |
| Other liabilities | 10,437 | 10,686 |
| Total liabilities | 110,574 | 107,995 |
| Commitments and Contingencies (Note 19) | ||
| 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 (loss) (Note 13) | (12,967) | (13,058) |
| Retained earnings | 128,345 | 123,060 |
| Stockholders' Equity before Treasury Stock | 118,498 | 113,122 |
| Less: common stock held in treasury, at cost (Note 12) (506,246,000 shares and 490,878,000 shares) | 41,694 | 39,099 |
| Total shareholders equity | 76,804 | 74,023 |
| Total liabilities and shareholders equity | 187,378 | 182,018 |
| External Links | |
| JOHNSON & JOHNSON (JNJ) Fiscal Year 2022 | |
| 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 |