JOHNSON & JOHNSON
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
JNJ$280.78-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated statements of cash flows
Johnson & Johnson and subsidiaries consolidated statements of cash flows
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net earnings | $35,153 | 17,941 | 20,878 |
| Adjustments to reconcile net earnings to cash flows from operating activities: | |||
| Depreciation and amortization of property and intangibles | 7,486 | 6,970 | 7,390 |
| Stock based compensation | 1,162 | 1,138 | 1,135 |
| Asset write-downs | 1,295 | 1,216 | 989 |
| Charge for purchase of in-process research and development assets | 483 | — | — |
| Gain on Kenvue separation | (20,984) | — | — |
| Net gain on sale of assets/businesses | (117) | (380) | (617) |
| Deferred tax provision | (4,194) | (1,663) | (2,079) |
| Credit losses and accounts receivable allowances | — | (17) | (48) |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | |||
| Increase in accounts receivable | (624) | (1,290) | (2,402) |
| Increase in inventories | (1,323) | (2,527) | (1,248) |
| Increase in accounts payable and accrued liabilities | 2,346 | 1,098 | 2,437 |
| (Increase)/Decrease in other current and non-current assets | (3,480) | 687 | (1,964) |
| Increase/(Decrease) in other current and non-current liabilities | 5,588 | (1,979) | (1,061) |
| Net cash flows from operating activities | 22,791 | 21,194 | 23,410 |
| Cash flows from investing activities | |||
| Additions to property, plant and equipment | (4,543) | (4,009) | (3,652) |
| Proceeds from the disposal of assets/businesses, net | 358 | 543 | 711 |
| Acquisitions, net of cash acquired (Note 18) | — | (17,652) | (60) |
| Purchases of in-process research and development assets (Note 18) | (470) | — | — |
| Purchases of investments | (10,906) | (32,384) | (30,394) |
| Sales of investments | 19,390 | 41,609 | 25,006 |
| Credit support agreements activity, net | (2,963) | (249) | 214 |
| Other (including capitalized licenses and milestones) | 12 | (229) | (508) |
| Net cash from/(used) by investing activities | 878 | (12,371) | (8,683) |
| Cash flows from financing activities | |||
| Dividends to shareholders | (11,770) | (11,682) | (11,032) |
| Repurchase of common stock | (5,054) | (6,035) | (3,456) |
| Proceeds from short-term debt | 13,743 | 16,134 | 1,997 |
| Repayment of short-term debt | (22,973) | (6,550) | (1,190) |
| Proceeds from long-term debt, net of issuance costs | — | 2 | 5 |
| Repayment of long-term debt | (1,551) | (2,134) | (1,802) |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | 1,094 | 1,329 | 1,036 |
| Credit support agreements activity, net | (219) | (28) | 281 |
48
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation | 8,047 | — | — |
| Proceeds from Kenvue initial public offering | 4,241 | — | — |
| Cash transferred to Kenvue at separation | (1,114) | — | — |
| Other | (269) | 93 | 114 |
| Net cash used by financing activities | (15,825) | (8,871) | (14,047) |
| Effect of exchange rate changes on cash and cash equivalents | (112) | (312) | (178) |
| Increase/(Decrease) in cash and cash equivalents | 7,732 | (360) | 502 |
| Cash and cash equivalents from continuing operations, beginning of period | 12,889 | 13,309 | 12,697 |
| Cash and cash equivalents from discontinued operations, beginning of period | 1,238 | 1,178 | 1,288 |
| Cash and cash equivalents, beginning of year (Note 1) | 14,127 | 14,487 | 13,985 |
| Cash and cash equivalents from continuing operations, end of period | 21,859 | 12,889 | 13,309 |
| Cash and cash equivalents from discontinued operations, end of period | — | 1,238 | 1,178 |
| Cash and cash equivalents, end of year (Note 1) | $21,859 | 14,127 | 14,487 |
| Supplemental cash flow data | |||
| Cash paid during the year for: | |||
| Interest | $1,836 | 982 | 990 |
| Interest, net of amount capitalized | 1,766 | 933 | 941 |
| Income taxes, inclusive of discontinued operations | 8,574 | 5,223 | 4,768 |
| 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 | $1,435 | 2,114 | 1,811 |
| Acquisitions | |||
| Fair value of assets acquired | $— | 18,710 | 61 |
| Fair value of liabilities assumed | — | (1,058) | (1) |
| Net cash paid for acquisitions (Note 18) | $— | 17,652 | 60 |
Amounts presented have not been recast to exclude discontinued operations.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.