EX-99.2 3 a2024q3exhibit992.htm EX-99.2 Document

Exhibit 99.2
Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)THIRD QUARTER
Percent Change
Sales to customers by geographic area20242023TotalOperationsCurrency
U.S.$12,909 11,996 7.6 %7.6 — 
Europe4,914 4,727 4.0 3.0 1.0 
Western Hemisphere excluding U.S.1,173 1,171 0.3 20.3 (20.0)
Asia-Pacific, Africa3,475 3,457 0.5 1.5 (1.0)
International9,562 9,355 2.2 4.6 (2.4)
Worldwide$22,471 21,351 5.2 %6.3 (1.1)


Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)THIRD QUARTER
Percent Change
Sales to customers by geographic area (ex. COVID-19 Vaccine)20242023TotalOperationsCurrency
U.S.*$12,909 11,996 7.6 %7.6 — 
Europe(1)
4,913 4,686 4.8 3.8 1.0 
Western Hemisphere excluding U.S.*1,173 1,171 0.3 20.3 (20.0)
Asia-Pacific, Africa*3,475 3,457 0.5 1.5 (1.0)
International9,561 9,314 2.7 5.1 (2.4)
Worldwide$22,470 21,310 5.4 %6.5 (1.1)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales information schedules
*No COVID-19 Vaccine Sales



Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)NINE MONTHS
Percent Change
Sales to customers by geographic area20242023TotalOperationsCurrency
U.S.$37,098 34,435 7.7 %7.7 — 
Europe15,291 15,448 (1.0)(0.7)(0.3)
Western Hemisphere excluding U.S.3,579 3,383 5.8 21.4 (15.6)
Asia-Pacific, Africa10,333 10,498 (1.6)2.8 (4.4)
International29,203 29,329 (0.4)3.1 (3.5)
Worldwide$66,301 63,764 4.0 %5.6 (1.6)


Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)NINE MONTHS
Percent Change
Sales to customers by geographic area (ex. COVID-19 Vaccine)20242023TotalOperationsCurrency
U.S.*$37,098 34,435 7.7 %7.7 — 
Europe(1)
15,093 14,375 5.0 5.3 (0.3)
Western Hemisphere excluding U.S.*3,579 3,383 5.8 21.4 (15.6)
Asia-Pacific, Africa*10,333 10,498 (1.6)2.8 (4.4)
International29,005 28,256 2.7 6.3 (3.6)
Worldwide$66,103 62,691 5.4 %7.1 (1.7)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales information schedules
*No COVID-19 Vaccine Sales



Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)THIRD QUARTER
Percent Change
Sales to customers by segment of business20242023TotalOperationsCurrency
Innovative Medicine (1)
U.S.$8,871 8,249 7.5 %7.5 — 
International5,709 5,644 1.2 4.4 (3.2)
14,580 13,893 4.9 6.3 (1.4)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S.8,871 8,249 7.5 7.5 — 
International5,708 5,603 1.9 5.2 (3.3)
14,579 13,852 5.2 6.6 (1.4)
MedTech
U.S.4,038 3,747 7.8 7.8 — 
International3,853 3,711 3.9 5.0 (1.1)
7,891 7,458 5.8 6.4 (0.6)
U.S.12,909 11,996 7.6 7.6 — 
International9,562 9,355 2.2 4.6 (2.4)
Worldwide22,471 21,351 5.2 6.3 (1.1)
U.S.12,909 11,996 7.6 7.6 — 
International9,561 9,314 2.7 5.1 (2.4)
Worldwide excluding COVID-19 Vaccine (1)
$22,470 21,310 5.4 %6.5 (1.1)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1)Refer to supplemental sales information schedules.




Johnson & Johnson and subsidiaries
Supplementary sales data
(Unaudited; Dollars in Millions)NINE MONTHS
Percent Change
Sales to customers by segment of business20242023TotalOperationsCurrency
Innovative Medicine (1)
U.S.$24,993 23,090 8.2 %8.2 — 
International17,639 17,947 (1.7)2.1 (3.8)
42,632 41,037 3.9 5.5 (1.6)
Innovative Medicine excluding COVID-19 Vaccine (1)
U.S.24,993 23,090 8.2 8.2 — 
International17,441 16,874 3.4 7.4 (4.0)
42,434 39,964 6.2 7.9 (1.7)
MedTech
U.S.12,105 11,345 6.7 6.7 — 
International11,564 11,382 1.6 4.7 (3.1)
23,669 22,727 4.1 5.7 (1.6)
U.S.37,098 34,435 7.7 7.7 — 
International29,203 29,329 (0.4)3.1 (3.5)
Worldwide66,301 63,764 4.0 5.6 (1.6)
U.S.37,098 34,435 7.7 7.7 — 
International29,005 28,256 2.7 6.3 (3.6)
Worldwide excluding COVID-19 Vaccine (1)
$66,103 62,691 5.4 %7.1 (1.7)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1)Refer to supplemental sales information schedules.




Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures)THIRD QUARTER
20242023Percent
Increase
(Decrease)
AmountPercent
to Sales
AmountPercent
to Sales
Sales to customers$22,471 100.0 $21,351 100.0 5.2 
Cost of products sold6,963 31.0 6,606 30.9 5.4 
Gross Profit15,508 69.0 14,745 69.1 5.2 
Selling, marketing and administrative expenses5,478 24.3 5,400 25.3 1.4 
Research and development expense4,952 22.0 3,447 16.2 43.7 
In-process research and development impairments  206 1.0  
Interest (income) expense, net(99)(0.4)(182)(0.8) 
Other (income) expense, net1,798 8.0 499 2.3  
Restructuring41 0.2 158 0.7  
Earnings before provision for taxes on income3,338 14.9 5,217 24.4 (36.0)
Provision for taxes on income644 2.9 908 4.2 (29.1)
Net earnings from Continuing Operations$2,694 12.0 $4,309 20.2 (37.5)
Net earnings from Discontinued Operations, net of tax  21,719  
Net earnings$2,694  $26,028  
Net earnings per share (Diluted) from Continuing Operations$1.11 $1.69 (34.3)
Net earnings per share (Diluted) from Discontinued Operations$ $8.52  
Average shares outstanding (Diluted)2,427.9 2,549.7 
Effective tax rate from Continuing Operations19.3 %17.4 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations$7,277 32.4$8,033 37.6(9.4)
Net earnings from Continuing Operations$5,876 26.1$6,777 31.7(13.3)
Net earnings per share (Diluted) from Continuing Operations$2.42 $2.66 (9.0)
Effective tax rate from Continuing Operations19.3 %15.6 %
(1)    See Reconciliation of Non-GAAP Financial Measures.
(A)    NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
(Unaudited; in Millions Except Per Share Figures)NINE MONTHS
20242023Percent Increase (Decrease)
AmountPercent to SalesAmountPercent to Sales
Sales to customers$66,301 100.0 $63,764 100.0 4.0 
Cost of products sold20,343 30.7 19,755 31.0 3.0 
Gross Profit45,958 69.3 44,009 69.0 4.4 
Selling, marketing and administrative expenses16,416 24.8 15,702 24.6 4.5 
Research and development expense11,934 18.0 10,605 16.6 12.5 
In-process research and development impairments194 0.3 255 0.4  
Interest (income) expense, net(433)(0.7)(277)(0.4) 
Other (income) expense, net4,855 7.3 7,055 11.1  
Restructuring192 0.3 433 0.6  
Earnings before provision for taxes on income12,800 19.3 10,236 16.1 25.0 
Provision for taxes on income2,165 3.3 1,042 1.7 107.8 
Net earnings from Continuing Operations$10,635 16.0 $9,194 14.4 15.7 
Net earnings from Discontinued Operations, net of tax    21,910    
Net earnings$10,635    $31,104    
Net earnings per share (Diluted) from Continuing Operations$4.38 $3.53 24.1 
Net earnings per share (Diluted) from Discontinued Operations$ $8.42  
Average shares outstanding (Diluted)2,429.5 2,603.4 
Effective tax rate from Continuing Operations16.9 %10.2 %
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations$23,558 35.5 $23,574 37.0 (0.1)
Net earnings from Continuing Operations$19,296 29.1 $19,847 31.1 (2.8)
Net earnings per share (Diluted) from Continuing Operations$7.94 $7.62 4.2 
Effective tax rate from Continuing Operations18.1 %15.8 %
(1)See Reconciliation of Non-GAAP Financial Measures.
(A)NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, significant costs associated with acquisitions, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.



Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Third Quarter
(Dollars in Millions Except Per Share Data)20242023
Net Earnings from Continuing Operations, after tax- as reported$2,694 $4,309 
Pre-tax Adjustments
Litigation related2,388 (51)
Intangible Asset Amortization expense1,171 1,132 
COVID-19 Vaccine related costs 1
44 
Restructuring related 2
47 384 
Medical Device Regulation 3
38 74 
Acquisition, integration and divestiture related 328 22 
(Gains)/losses on securities (37)1,005 
IPR&D impairments— 206 
Tax Adjustments
Tax impact on special item adjustments 4
(762)(482)
Tax legislation and other tax related134 
Adjusted Net Earnings from Continuing Operations, after tax$5,876 $6,777 
Average shares outstanding (Diluted)2,427.9 2,549.7 
Adjusted net earnings per share from Continuing Operations (Diluted)$2.42 $2.66 
Operational adjusted net earnings per share from Continuing Operations (Diluted)$2.41  
Notes:
1COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development.  The restructuring expense of $19 million in the fiscal third quarter of 2024 ($100 million Q3 2024 YTD) and $149 million in the fiscal third quarter of 2023 ($424 million Q3 2023 YTD) includes the termination of partnered and non-partnered program costs, asset impairments and asset divestments.
In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense of $28 million in the fiscal third quarter of 2024 ($107 million Q3 2024 YTD) and $235 million in the fiscal third quarter of 2023 ($235 million Q3 2023 YTD) primarily includes inventory and instrument reserves related to the market and product exits.
3European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which will be completed by the end of 2024.
4The 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 measures
Nine Months Ended
(Dollars in Millions Except Per Share Data)20242023
Net Earnings from Continuing Operations, after tax- as reported$10,635 $9,194 
Pre-tax Adjustments
Litigation related5,466 6,986 
Intangible Asset Amortization expense3,355 3,384 
COVID-19 Vaccine related costs 1
77 653 
Restructuring related 2
207 659 
Medical Device Regulation 3
157 223 
Acquisition, integration and divestiture related928 102 
(Gains)/losses on securities374 1,076 
IPR&D impairments194 255 
Tax Adjustments
Tax impact on special item adjustments 4
(2,055)(2,769)
Tax legislation and other tax related(42)84 
Adjusted Net Earnings from Continuing Operations, after tax$19,296 $19,847 
Average shares outstanding (Diluted)2,429.5 2,603.4 
Adjusted net earnings per share from Continuing Operations (Diluted)$7.94 $7.62 
Operational adjusted net earnings per share from Continuing Operations (Diluted)$7.94  
Notes:
1COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development.  The restructuring expense of $19 million in the fiscal third quarter of 2024 ($100 million Q3 2024 YTD) and $149 million in the fiscal third quarter of 2023 ($424 million Q3 2023 YTD) includes the termination of partnered and non-partnered program costs, asset impairments and asset divestments.
In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense of $28 million in the fiscal third quarter of 2024 ($107 million Q3 2024 YTD) and $235 million in the fiscal third quarter of 2023 ($235 million Q3 2023 YTD) primarily includes inventory and instrument reserves related to the market and product exits.
3European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company’s previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices were required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations. The Company has excluded only external third-party regulatory and consulting costs from its MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which will be completed by the end of 2024.
4The 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 measures
Adjusted operational sales growth(A)
Third quarter 2024 actual vs. 2023 actual
Segments
 Innovative Medicine MedTech  Total
WW As Reported 4.9 %5.8 %5.2 %
U.S. 7.5 %7.8 %7.6 %
International 1.2 %3.9 %2.2 %
WW Currency (1.4)(0.6)(1.1)
U.S.
International (3.2)(1.1)(2.4)
WW Operational 6.3 %6.4 %6.3 %
U.S. 7.5 %7.8 %7.6 %
International4.4 %5.0 %4.6 %
Shockwave(3.1)(1.1)
U.S.(4.4)(1.4)
International(1.8)(0.7)
All Other Acquisitions and Divestitures (A&D)0.10.40.2
U.S. 0.10.80.3
International 0.20.00.1
WW Adjusted Operational Ex A&D6.4 %3.7 %5.4 %
U.S.7.6 %4.2 %6.5 %
International4.6 %3.2 %4.0 %
COVID-19 Vaccine0.30.2
U.S.0.00.0
International0.80.5
WW Adjusted Operational Ex A&D & COVID-19 Vaccine6.7 %3.7 %5.6 %
U.S. 7.6 %4.2 %6.5 %
International 5.4 %3.2 %4.5 %
Note: Percentages are based on actual, non-rounded figures and may not sum
(A)    NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
Nine months 2024 actual vs. 2023 actual
Segments
 Innovative Medicine MedTech  Total
WW As Reported 3.9 %4.1 %4.0 %
U.S. 8.2 %6.7 %7.7 %
International (1.7)%1.6 %(0.4)%
WW Currency (1.6)(1.6)(1.6)
U.S.
International (3.8)(3.1)(3.5)
WW Operational 5.5 %5.7 %5.6 %
U.S. 8.2 %6.7 %7.7 %
International2.1 %4.7 %3.1 %
Shockwave(1.3)(0.5)
U.S.(2.1)(0.7)
International(0.6)(0.2)
All Other Acquisitions and Divestitures (A&D)0.10.30.2
U.S. 0.10.70.3
International 0.10.10.1
WW Adjusted Operational Ex A&D5.6 %4.7 %5.3 %
U.S.8.3 %5.3 %7.3 %
International2.2 %4.2 %3.0 %
COVID-19 Vaccine2.41.5
U.S.0.00.0
International5.33.2
WW Adjusted Operational Ex A&D & COVID-19 Vaccine8.0 %4.7 %6.8 %
U.S. 8.3 %5.3 %7.3 %
International 7.5 %4.2 %6.2 %
Note: Percentages are based on actual, non-rounded figures and may not sum
(A)    NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
IMMUNOLOGY
US$3,068 3,193 (3.9)%(3.9)%— %
Intl1,552 1,656 (6.2)(2.1)(4.1)
WW4,621 4,849 (4.7)(3.3)(1.4)
REMICADE
US281 296 (5.4)(5.4)— 
US Exports(3)
27 38 (28.9)(28.9)— 
Intl112 127 (11.5)(6.5)(5.0)
WW419 461 (9.1)(7.7)(1.4)
SIMPONI / SIMPONI ARIA
US299 310 (3.7)(3.7)— 
Intl218 319 (31.8)(23.3)(8.5)
WW516 629 (18.0)(13.6)(4.4)
STELARA
US1,770 1,912 (7.5)(7.5)— 
Intl906 951 (4.8)(2.3)(2.5)
WW2,676 2,864 (6.6)(5.7)(0.9)
TREMFYA
US691 634 9.1 9.1 — 
Intl316 258 22.6 26.9 (4.3)
WW1,007 891 13.0 14.3 (1.3)
OTHER IMMUNOLOGY
US1 2 (45.6)(45.6)— 
Intl0 0 — — — 
WW1 2 (45.6)(45.6)— 
INFECTIOUS DISEASES
US365 360 1.5 1.5 — 
Intl471 500 (5.7)(5.1)(0.6)
WW836 859 (2.7)(2.4)(0.3)
COVID-19 VACCINE
US0 0 — — — 
Intl1 41 (97.7)(98.9)1.2 
WW1 41 (97.7)(98.9)1.2 
EDURANT / rilpivirine
US8 9 (15.8)(15.8)— 
Intl323 287 12.3 11.4 0.9 
WW330 297 11.5 10.6 0.9 
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US355 345 2.8 2.8 — 
Intl94 102 (6.9)(3.0)(3.9)
WW449 447 0.6 1.5 (0.9)
OTHER INFECTIOUS DISEASES
US3 5 (52.2)(52.2)— 
Intl53 69 (23.2)(20.5)(2.7)
WW55 74 (25.4)(22.9)(2.5)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
NEUROSCIENCE
US$1,094 1,036 5.6 %5.6 %— %
Intl662 706 (6.2)(3.9)(2.3)
WW1,755 1,742 0.8 1.7 (0.9)
CONCERTA / methylphenidate
US26 57 (55.0)(55.0)— 
Intl117 133 (11.9)(8.5)(3.4)
WW142 189 (24.8)(22.5)(2.3)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US780 730 6.8 6.8 — 
Intl269 299 (10.1)(8.3)(1.8)
WW1,049 1,029 1.9 2.4 (0.5)
SPRAVATO
US243 154 56.8 56.8 — 
Intl42 29 44.6 47.4 (2.8)
WW284 183 54.9 55.3 (0.4)
OTHER NEUROSCIENCE
US46 94 (51.4)(51.4)— 
Intl235 245 (4.4)(2.0)(2.4)
WW281 340 (17.4)(15.7)(1.7)
ONCOLOGY
US2,816 2,219 26.9 26.9 — 
Intl2,565 2,313 10.9 14.3 (3.4)
WW5,380 4,533 18.7 20.5 (1.8)
CARVYKTI
US258 140 84.9 84.9 — 
Intl27 12 ***
WW286 152 87.7 87.6 0.1 
DARZALEX
US1,684 1,369 23.0 23.0 — 
Intl1,332 1,130 17.9 22.8 (4.9)
WW3,016 2,499 20.7 22.9 (2.2)
ERLEADA
US337 288 17.1 17.1 — 
Intl453 342 32.4 34.0 (1.6)
WW790 631 25.4 26.3 (0.9)
IMBRUVICA
US259 264 (1.9)(1.9)— 
Intl494 545 (9.2)(7.2)(2.0)
WW753 808 (6.8)(5.5)(1.3)
TECVAYLI
US105 93 13.5 13.5 — 
Intl30 19 54.2 59.4 (5.2)
WW135 112 20.6 21.4 (0.8)
ZYTIGA / abiraterone acetate
US5 16 (66.0)(66.0)— 
Intl144 199 (27.1)(24.4)(2.7)
WW150 214 (30.0)(27.5)(2.5)
OTHER ONCOLOGY
US168 50 **— 
Intl83 67 24.8 27.6 (2.8)
WW250 117 ***
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
PULMONARY HYPERTENSION
US$815 680 20.0 %20.0 %— %
Intl287 274 4.5 9.7 (5.2)
WW1,102 954 15.6 17.0 (1.4)
OPSUMIT
US406 323 25.4 25.4 — 
Intl165 166 (0.2)1.7 (1.9)
WW571 490 16.8 17.4 (0.6)
UPTRAVI
US379 336 12.7 12.7 — 
Intl80 66 21.8 28.2 (6.4)
WW458 402 14.2 15.2 (1.0)
OTHER PULMONARY HYPERTENSION
US32 20 54.0 54.0 — 
Intl40 42 (3.9)12.4 (16.3)
WW72 63 15.0 25.9 (10.9)
CARDIOVASCULAR / METABOLISM / OTHER
US713763(6.5)(6.5)— 
Intl170194(11.9)(10.0)(1.9)
WW884957(7.6)(7.2)(0.4)
XARELTO
US592 625 (5.2)(5.2)— 
Intl  — — — 
WW592 625 (5.2)(5.2)— 
OTHER
US121 139 (12.2)(12.2)— 
Intl170 194 (11.9)(10.0)(1.9)
WW292 332 (12.0)(10.9)(1.1)
TOTAL INNOVATIVE MEDICINE
US8,8718,2497.5 7.5  
Intl5,7095,6441.2 4.4 (3.2)
WW$14,580 13,8934.9 %6.3 %(1.4)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR(4)
US$1,148 891 28.6 %28.6 %— %
Intl819 667 22.8 23.7 (0.9)
WW1,966 1,558 26.2 26.5 (0.3)
ELECTROPHYSIOLOGY
US660 611 7.9 7.9 — 
Intl619 549 12.7 13.8 (1.1)
WW1,279 1,161 10.2 10.7 (0.5)
ABIOMED
US293 254 15.4 15.4 — 
Intl68 57 20.1 20.1 0.0 
WW362 311 16.3 16.3 0.0 
SHOCKWAVE(5)
US163  **— 
Intl66  **— 
WW229  **— 
OTHER CARDIOVASCULAR(4)
US30 26 16.7 16.7 — 
Intl66 61 7.7 7.5 0.2 
WW96 8710.4 10.2 0.2 
ORTHOPAEDICS
US1,359 1,349 0.7 0.7 — 
Intl832 815 2.0 2.2 (0.2)
WW2,191 2,164 1.2 1.3 (0.1)
HIPS
US250 239 4.8 4.8 — 
Intl131 136 (3.6)(3.2)(0.4)
WW381 375 1.7 1.9 (0.2)
KNEES
US212 207 2.2 2.2 — 
Intl140 131 6.9 7.0 (0.1)
WW352 338 4.0 4.1 (0.1)
TRAUMA
US497 488 1.8 1.8 — 
Intl265 253 4.2 4.8 (0.6)
WW761 742 2.6 2.8 (0.2)
SPINE, SPORTS & OTHER
US400 415 (3.6)(3.6)— 
Intl296 295 0.4 0.4 0.0 
WW696 710 (1.9)(2.0)0.1 
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
THIRD QUARTER
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
SURGERY
US$983 994 (1.1)%(1.1)%— %
Intl1,451 1,483 (2.2)(0.3)(1.9)
WW2,434 2,479 (1.8)(0.7)(1.1)
ADVANCED
US448 455 (1.4)(1.4)— 
Intl661 709 (6.8)(5.1)(1.7)
WW1,109 1,164 (4.7)(3.6)(1.1)
GENERAL
US535 540 (0.9)(0.9)— 
Intl791 775 2.1 4.0 (1.9)
WW1,325 1,314 0.8 2.0 (1.2)
VISION
US549 512 7.2 7.2 — 
Intl751 744 0.9 1.8 (0.9)
WW1,300 1,256 3.5 4.0 (0.5)
CONTACT LENSES / OTHER
US441 399 10.2 10.2 — 
Intl527 529 (0.3)0.6 (0.9)
WW968 928 4.2 4.7 (0.5)
SURGICAL
US108 112 (3.6)(3.6)— 
Intl225 216 3.9 4.7 (0.8)
WW333 328 1.3 1.9 (0.6)
TOTAL MEDTECH
US4,038 3,747 7.8 7.8  
Intl3,853 3,711 3.9 5.0 (1.1)
WW$7,891 7,458 5.8 %6.4 %(0.6)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)
IMMUNOLOGY
US$8,499 8,506 (0.1)%(0.1)%— %
Intl5,090 4,951 2.8 7.3 (4.5)
WW13,590 13,457 1.0 2.6 (1.6)
REMICADE
US778 849 (8.5)(8.5)— 
US Exports(3)
89 112 (20.5)(20.5)— 
Intl380 449 (15.4)(11.3)(4.1)
WW1,246 1,410 (11.6)(10.3)(1.3)
SIMPONI / SIMPONI ARIA
US820 866 (5.3)(5.3)— 
Intl787 829 (5.1)4.1 (9.2)
WW1,607 1,695 (5.2)(0.7)(4.5)
STELARA
US5,021 5,180 (3.1)(3.1)— 
Intl2,991 2,925 2.2 5.4 (3.2)
WW8,012 8,105 (1.2)0.0 (1.2)
TREMFYA
US1,789 1,490 20.1 20.1 — 
Intl932 747 24.7 29.6 (4.9)
WW2,721 2,237 21.6 23.3 (1.7)
OTHER IMMUNOLOGY
US3 9 (66.8)(66.8)— 
Intl0 0 — — — 
WW3 9 (66.8)(66.8)— 
INFECTIOUS DISEASES
US1,023 1,147 (10.8)(10.8)— 
Intl1,599 2,420 (33.9)(33.4)(0.5)
WW2,622 3,566 (26.5)(26.1)(0.4)
COVID-19 VACCINE
US0 0 — — — 
Intl198 1,073 (81.6)(81.6)0.0 
WW198 1,073 (81.6)(81.6)0.0 
EDURANT / rilpivirine
US24 26 (10.0)(10.0)— 
Intl926 816 13.5 13.3 0.2 
WW950 843 12.7 12.6 0.1 
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US990 1,105 (10.5)(10.5)— 
Intl315 310 1.8 4.3 (2.5)
WW1,305 1,415 (7.8)(7.2)(0.6)
OTHER INFECTIOUS DISEASES
US10 15 (37.7)(37.7)— 
Intl160 220 (27.4)(24.2)(3.2)
WW169 235 (28.0)(25.1)(2.9)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
NEUROSCIENCE
US$3,250 3,043 6.8 %6.8 %— %
Intl2,090 2,296 (8.9)(4.8)(4.1)
WW5,340 5,339 0.0 1.8 (1.8)
CONCERTA / methylphenidate
US101 191 (47.5)(47.5)— 
Intl382 412 (7.3)(2.9)(4.4)
WW482 603 (20.0)(17.0)(3.0)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US2,329 2,164 7.6 7.6 — 
Intl830 940 (11.7)(8.7)(3.0)
WW3,159 3,104 1.8 2.7 (0.9)
SPRAVATO
US660 409 61.2 61.2 — 
Intl120 74 62.9 65.0 (2.1)
WW780 483 61.5 61.8 (0.3)
OTHER NEUROSCIENCE
US161 278 (42.1)(42.1)— 
Intl759 870 (12.8)(7.4)(5.4)
WW920 1,149 (19.9)(15.8)(4.1)
ONCOLOGY
US7,835 6,177 26.8 26.8 — 
Intl7,450 6,865 8.5 12.6 (4.1)
WW15,284 13,043 17.2 19.3 (2.1)
CARVYKTI
US565 324 74.6 74.6 — 
Intl63 17 ***
WW629 341 84.3 84.2 0.1 
DARZALEX
US4,789 3,882 23.4 23.4 — 
Intl3,797 3,312 14.6 19.9 (5.3)
WW8,586 7,194 19.3 21.8 (2.5)
ERLEADA
US940 778 20.8 20.8 — 
Intl1,275 961 32.6 35.6 (3.0)
WW2,215 1,740 27.3 29.0 (1.7)
IMBRUVICA
US770 796 (3.2)(3.2)— 
Intl1,537 1,681 (8.5)(6.1)(2.4)
WW2,307 2,476 (6.8)(5.2)(1.6)
TECVAYLI
US310 232 34.0 34.0 — 
Intl93 37 ***
WW403 269 49.6 50.0 (0.4)
ZYTIGA / abiraterone acetate
US25 41 (38.0)(38.0)— 
Intl470 646 (27.1)(22.8)(4.3)
WW496 686 (27.8)(23.7)(4.1)
OTHER ONCOLOGY
US435 125 **— 
Intl214 211 2.0 4.8 (2.8)
WW649 336 93.4 %95.1 %(1.7)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
20242023Reported
Operational(1)
Currency
INNOVATIVE MEDICINE SEGMENT(2)(Continued)
PULMONARY HYPERTENSION
US$2,324 1,964 18.4 %18.4 %— %
Intl866 835 3.7 10.6 (6.9)
WW3,190 2,798 14.0 16.1 (2.1)
OPSUMIT
US1,135 924 22.8 22.8 — 
Intl504 512 (1.6)2.2 (3.8)
WW1,639 1,437 14.1 15.4 (1.3)
UPTRAVI
US1,120 978 14.5 14.5 — 
Intl232 185 25.5 33.5 (8.0)
WW1,352 1,163 16.3 17.5 (1.2)
OTHER PULMONARY HYPERTENSION
US70 61 14.0 14.0 — 
Intl129 137 (5.8)10.9 (16.7)
WW199 199 0.3 11.9 (11.6)
CARDIOVASCULAR / METABOLISM / OTHER
US2,0612,254(8.5)(8.5)— 
Intl543580(6.4)(4.6)(1.8)
WW2,6052,834(8.1)(7.7)(0.4)
XARELTO
US1,697 1,840 (7.8)(7.8)— 
Intl  — — — 
WW1,697 1,840 (7.8)(7.8)— 
OTHER
US364 414 (11.9)(11.9)— 
Intl543 580 (6.4)(4.6)(1.8)
WW908 994 (8.7)(7.7)(1.0)
TOTAL INNOVATIVE MEDICINE
US24,99323,0908.2 8.2  
Intl17,63917,947(1.7)2.1 (3.8)
WW$42,632 41,0373.9 %5.5 %(1.6)%
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)
CARDIOVASCULAR(4)
US$3,292 2,662 23.6 %23.6 %— %
Intl2,353 2,019 16.5 20.5 (4.0)
WW5,645 4,681 20.6 22.3 (1.7)
ELECTROPHYSIOLOGY
US2,057 1,791 14.8 14.8 — 
Intl1,889 1,658 14.0 18.2 (4.2)
WW3,946 3,449 14.4 16.5 (2.1)
ABIOMED
US905 790 14.5 14.5 — 
Intl207 176 17.7 20.0 (2.3)
WW1,112 966 15.1 15.5 (0.4)
SHOCKWAVE(5)
US240  **— 
Intl66  **— 
WW306  **— 
OTHER CARDIOVASCULAR(4)
US89 81 10.6 10.6 — 
Intl192 186 3.0 5.7 (2.7)
WW281 2675.3 7.2 (1.9)
ORTHOPAEDICS
US4,229 4,100 3.2 3.2 — 
Intl2,614 2,574 1.5 3.1 (1.6)
WW6,843 6,674 2.5 3.2 (0.7)
HIPS
US785 730 7.5 7.5 — 
Intl435 432 0.6 2.4 (1.8)
WW1,220 1,162 5.0 5.6 (0.6)
KNEES
US684 654 4.5 4.5 — 
Intl463 415 11.5 12.7 (1.2)
WW1,147 1,069 7.2 7.7 (0.5)
TRAUMA  
US1,499 1,462 2.5 2.5 — 
Intl786 775 1.4 3.0 (1.6)
WW2,285 2,238 2.1 2.7 (0.6)
SPINE, SPORTS & OTHER
US1,262 1,254 0.6 0.6 — 
Intl930 952 (2.3)(0.6)(1.7)
WW2,191 2,205 (0.6)0.1 (0.7)
See footnotes at end of schedule



Johnson & Johnson
Segment sales
(Dollars in Millions)
NINE MONTHS
% Change
20242023Reported
Operational(1)
Currency
MEDTECH SEGMENT(2)(Continued)
SURGERY
US$2,965 2,984 (0.6)%(0.6)%— %
Intl4,373 4,522 (3.3)0.4 (3.7)
WW7,338 7,507 (2.2)0.0 (2.2)
ADVANCED  
US1,360 1,365 (0.4)(0.4)— 
Intl1,977 2,139 (7.6)(4.2)(3.4)
WW3,337 3,504 (4.8)(2.7)(2.1)
GENERAL  
US1,605 1,619 (0.9)(0.9)— 
Intl2,397 2,383 0.6 4.4 (3.8)
WW4,001 4,002 0.0 2.3 (2.3)
VISION
US1,619 1,599 1.3 1.3 — 
Intl2,224 2,265 (1.8)1.0 (2.8)
WW3,843 3,864 (0.5)1.1 (1.6)
CONTACT LENSES / OTHER    
US1,288 1,252 2.8 2.8 — 
Intl1,508 1,568 (3.8)(0.4)(3.4)
WW2,796 2,820 (0.9)1.0 (1.9)
SURGICAL    
US331 346 (4.4)(4.4)— 
Intl717 698 2.7 4.2 (1.5)
WW1,048 1,044 0.3 1.4 (1.1)
    
TOTAL MEDTECH
US12,105 11,345 6.7 6.7  
Intl11,564 11,382 1.6 4.7 (3.1)
WW$23,669 22,727 4.1 %5.7 %(1.6)%

Note: Column 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
(1)Operational growth excludes the effect of translational currency
(2)Unaudited
(3)Reported as U.S. sales
(4)Previously referred to as Interventional Solutions
(5)Acquired on May 31, 2024



Supplemental sales information (unaudited)
(Dollars in Millions)
THIRD QUARTER
% Change
20242023TotalOperationsCurrency
Innovative Medicine
U.S.$8,871 8,249 7.5 %7.5 — 
International5,709 5,644 1.2 4.4 (3.2)
Worldwide14,580 13,893 4.9 6.3 (1.4)
COVID-19 Vaccine
U.S.— — — — — 
International41 (97.7)(98.9)1.2 
Worldwide41 (97.7)(98.9)1.2 
Innovative Medicine excluding COVID-19 Vaccine
U.S.8,871 8,249 7.5 7.5 — 
International5,708 5,603 1.9 5.2 (3.3)
Worldwide14,579 13,852 5.2 6.6 (1.4)
Worldwide
U.S.12,909 11,996 7.6 7.6 — 
International9,562 9,355 2.2 4.6 (2.4)
Worldwide22,471 21,351 5.2 6.3 (1.1)
COVID-19 Vaccine
U.S.— — — — — 
International41 (97.7)(98.9)1.2 
Worldwide41 (97.7)(98.9)1.2 
Worldwide
U.S.12,909 11,996 7.6 7.6 — 
International9,561 9,314 2.7 5.1 (2.4)
Worldwide excluding COVID-19 Vaccine$22,470 21,310 5.4 6.5 (1.1)
Europe$4,914 4,727 4.0 %3.0 1.0 
Europe COVID-19 Vaccine Sales41 (97.7)(98.9)1.2 
Europe excluding COVID-19 Vaccine$4,913 4,686 4.8 %3.8 1.0 
Note: Columns and rows within tables may not add due to rounding




Supplemental sales information (unaudited)
(Dollars in Millions)
NINE MONTHS
% Change
20242023TotalOperationsCurrency
Innovative Medicine
U.S.$24,993 23,090 8.2 %8.2 — 
International17,639 17,947 (1.7)2.1 (3.8)
Worldwide42,632 41,037 3.9 5.5 (1.6)
COVID-19 Vaccine
U.S.— — — — — 
International198 1,073 (81.6)(81.6)0.0 
Worldwide198 1,073 (81.6)(81.6)0.0 
Innovative Medicine excluding COVID-19 Vaccine
U.S.24,993 23,090 8.2 8.2 — 
International17,441 16,874 3.4 7.4 (4.0)
Worldwide42,434 39,964 6.2 7.9 (1.7)
Worldwide
U.S.37,098 34,435 7.7 7.7 — 
International29,203 29,329 (0.4)3.1 (3.5)
Worldwide66,301 63,764 4.0 5.6 (1.6)
COVID-19 Vaccine
U.S.— — — — — 
International198 1,073 (81.6)(81.6)0.0 
Worldwide198 1,073 (81.6)(81.6)0.0 
Worldwide
U.S.37,098 34,435 7.7 7.7 — 
International29,005 28,256 2.7 6.3 (3.6)
Worldwide excluding COVID-19 Vaccine$66,103 62,691 5.4 %7.1 (1.7)
Europe$15,291 15,448 (1.0)%(0.7)(0.3)
Europe COVID-19 Vaccine Sales198 1,073 (81.6)(81.6)— 
Europe excluding COVID-19 Vaccine$15,093 14,375 5.0 %5.3 (0.3)
Note: Columns and rows within tables may not add due to rounding