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
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Consolidated statements of earnings
Johnson & Johnson and subsidiaries consolidated statements of earnings
(Dollars and Shares in Millions Except Per Share Amounts) (Note 1)
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Sales to customers | $85,159 | 79,990 | 78,740 |
| Cost of products sold | 26,553 | 24,596 | 23,402 |
| Gross profit | 58,606 | 55,394 | 55,338 |
| Selling, marketing and administrative expenses | 21,512 | 20,246 | 20,118 |
| Research and development expense | 15,085 | 14,135 | 14,277 |
| In-process research and development impairments | 313 | 783 | 900 |
| Interest income | (1,261) | (490) | (53) |
| Interest expense, net of portion capitalized (Note 4) | 772 | 276 | 183 |
| Other (income) expense, net | 6,634 | 810 | 526 |
| Restructuring (Note 20) | 489 | 275 | 209 |
| Earnings before provision for taxes on income | 15,062 | 19,359 | 19,178 |
| Provision for taxes on income (Note 8) | 1,736 | 2,989 | 1,377 |
| Net earnings from continuing operations | 13,326 | 16,370 | 17,801 |
| Net earnings from discontinued operations, net of tax (Note 21) | 21,827 | 1,571 | 3,077 |
| Net earnings | $35,153 | 17,941 | 20,878 |
| Net earnings per share (Notes 1 and 15) | |||
| Continuing operations - basic | $5.26 | 6.23 | 6.76 |
| Discontinued operations - basic | $8.62 | 0.60 | 1.17 |
| Total net earnings per share - basic | $13.88 | 6.83 | 7.93 |
| Continuing operations - diluted | $5.20 | 6.14 | 6.66 |
| Discontinued operations - diluted | $8.52 | 0.59 | 1.15 |
| Total net earnings per share - diluted | $13.72 | 6.73 | 7.81 |
| Average shares outstanding (Notes 1 and 15) | |||
| Basic | 2,533.5 | 2,625.2 | 2,632.1 |
| Diluted | 2,560.4 | 2,663.9 | 2,674.0 |
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