Johnson & johnson
NYSE: JNJ $138.61 0.29%
Drop Here
Statements of Income
Fiscal First Quarters Ended
March 31, 2019 Percent to Sales April 1, 2018 Percent to Sales
Sales to customers (Note 9) 20,021 100.0% 20,009 100.0%
Cost of products sold 6,615 33.0 6,614 33.1
Gross profit 13,406 67.0 13,395 66.9
Selling, marketing and administrative expenses 5,219 26.1 5,263 26.3
Research and development expense 2,858 14.3 2,404 12.0
In-process research and development 890 4.4 0 0
Interest income -99 -0.5 -114 -0.6
Interest expense, net of portion capitalized 102 0.5 259 1.3
Other (income) expense, net -22 -0.1 60 0.3
Restructuring (Note 12) 36 0.2 42 0.2
Earnings before provision for taxes on income 4,422 22.1 5,481 27.4
Provision for taxes on income (Note 5) 673 3.4 1,114 5.6
NET EARNINGS 3,749 18.7% 4,367 21.8%
NET EARNINGS PER SHARE (Note 8)
Basic 1.41 1.63
Diluted 1.39 1.60
AVG. SHARES OUTSTANDING
Basic 2,660.8 2,682.2
Diluted 2,698.8 2,731.9
Drop Here
Cash Flows
ASSETS March 31, 2019 December 30, 2018
ASSETS
Current assets:
Cash and cash equivalents 14,734 18,107
Marketable securities 602 1,580
Accounts receivable, trade, less allowances for doubtful accounts $244 (2018, $248) 14,115 14,098
Inventories (Note 2) 9,086 8,599
Prepaid expenses and other 2,599 2,699
Assets held for sale (Note 10) 851 950
Total current assets 41,987 46,033
Property, plant and equipment at cost 42,262 41,851
Less: accumulated depreciation -25,262 -24,816
Property, plant and equipment, net 17,000 17,035
Intangible assets, net (Note 3) 46,898 47,611
Goodwill (Note 3) 31,450 30,453
Deferred taxes on income 7,533 7,640
Other assets 5,159 4,182
Total assets 150,027 152,954
LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities:
Loans and notes payable 1,708 2,796
Accounts payable 6,923 7,537
Accrued liabilities 7,946 7,601
Accrued rebates, returns and promotions 9,523 9,380
Accrued compensation and employee related obligations 1,986 3,098
Accrued taxes on income 1,025 818
Total current liabilities 29,111 31,230
Long-term debt (Note 4) 27,660 27,684
Deferred taxes on income 7,394 7,506
Employee related obligations 9,905 9,951
Long-term taxes payable 8,074 8,242
Other liabilities 8,928 8,589
Total liabilities 91,072 93,202
Shareholders equity:
Common stock par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) 3,120 3,120
Accumulated other comprehensive income (loss) (Note 7) -15,517 -15,222
Retained earnings 106,650 106,216
Less: common stock held in treasury, at cost (464,207,000 and 457,519,000 shares) 35,298 34,362
Total shareholders equity 58,955 59,752
Total liabilities and shareholders' equity 150,027 152,954
Drop Here