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þ
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Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the quarterly period ended September 30, 2012
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o
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Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the transition period from to
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NEW JERSEY
(State or other jurisdiction of
incorporation or organization)
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22-1024240
(I.R.S. Employer
Identification No.)
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Large accelerated filer
þ
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Accelerated filer
o
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Non-accelerated filer
o
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Smaller reporting company
o
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(Do not check if a smaller reporting company)
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Page
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No.
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EX-10.1
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EX-10.2
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EX-31.1
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EX-32.1
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EX-101 INSTANCE DOCUMENT
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EX-101 SCHEMA DOCUMENT
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EX-101 CALCULATION LINKBASE DOCUMENT
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EX-101 LABELS LINKBASE DOCUMENT
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EX-101 PRESENTATION LINKBASE DOCUMENT
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EX-101 DEFINITION LINKBASE DOCUMENT
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September 30, 2012
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January 1, 2012
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||||
ASSETS
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||||||||
Current assets:
|
|
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||||
Cash and cash equivalents
|
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$
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15,486
|
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$
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24,542
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Marketable securities
|
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4,285
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|
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7,719
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Accounts receivable, trade, less allowances for doubtful accounts $451 (2011, $361)
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11,175
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|
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10,581
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Inventories (Note 2)
|
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7,809
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6,285
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Deferred taxes on income
|
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3,247
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2,556
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Prepaid expenses and other receivables
|
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2,789
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2,633
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Total current assets
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44,791
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54,316
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Property, plant and equipment at cost
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34,082
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31,829
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Less: accumulated depreciation
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(18,237
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)
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(17,090
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)
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Property, plant and equipment, net
|
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15,845
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14,739
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||
Intangible assets, net (Note 3)
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28,790
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18,138
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Goodwill, net (Note 3)
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21,777
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16,138
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Deferred taxes on income
|
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4,227
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|
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6,540
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Other assets
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3,521
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3,773
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Total assets
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$
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118,951
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$
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113,644
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LIABILITIES AND SHAREHOLDERS’ EQUITY
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||||||||
Current liabilities:
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||||
Loans and notes payable
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$
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5,423
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$
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6,658
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Accounts payable
|
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5,344
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|
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5,725
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Accrued liabilities
|
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6,498
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4,608
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Accrued rebates, returns and promotions
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3,040
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2,637
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Accrued compensation and employee related obligations
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2,128
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2,329
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Accrued taxes on income
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1,502
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854
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Total current liabilities
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23,935
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22,811
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Long-term debt (Note 4)
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11,428
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12,969
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Deferred taxes on income
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2,716
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1,800
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Employee related obligations
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7,904
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8,353
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Other liabilities
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9,207
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10,631
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Total liabilities
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55,190
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56,564
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Shareholders’ equity:
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||||
Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares)
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$
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3,120
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$
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3,120
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Accumulated other comprehensive income (loss) (Note 7)
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(4,925
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)
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(5,632
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)
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Retained earnings
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84,880
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81,251
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Less: common stock held in treasury, at cost (357,285,000 and 395,480,000 shares)
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19,314
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21,659
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Total shareholders’ equity
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63,761
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57,080
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Total liabilities and shareholders' equity
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$
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118,951
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$
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113,644
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Fiscal Third Quarters Ended
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||||||||||||
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September 30,
2012 |
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Percent
to Sales
|
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October 2,
2011 |
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Percent
to Sales
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||||||
Sales to customers (Note 9)
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$
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17,052
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100.0
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%
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$
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16,005
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100.0
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%
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Cost of products sold
|
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5,597
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32.8
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|
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5,072
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|
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31.7
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Gross profit
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11,455
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67.2
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|
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10,933
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|
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68.3
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Selling, marketing and administrative expenses
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5,228
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30.6
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5,240
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32.7
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Research and development expense
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1,923
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11.3
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1,773
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11.1
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In-process research and development
|
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679
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4.0
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—
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—
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Interest income
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(15
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)
|
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(0.1
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)
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(17
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)
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(0.1
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)
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Interest expense, net of portion capitalized
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135
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0.8
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134
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0.8
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Other (income) expense, net
|
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(90
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)
|
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(0.5
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)
|
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(308
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)
|
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(1.9
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)
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Earnings before provision for taxes on income
|
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3,595
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21.1
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4,111
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25.7
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Provision for taxes on income (Note 5)
|
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966
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|
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5.7
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909
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5.7
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NET EARNINGS
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2,629
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|
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15.4
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|
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3,202
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20.0
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Add: Net loss attributable to noncontrolling interest, net of tax
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339
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|
2.0
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—
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—
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NET EARNINGS ATTRIBUTABLE TO JOHNSON & JOHNSON
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$
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2,968
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17.4
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%
|
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$
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3,202
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20.0
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%
|
NET EARNINGS PER SHARE ATTRIBUTABLE TO JOHNSON & JOHNSON (Note 8)
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||||||
Basic
|
|
$
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1.08
|
|
|
|
|
$
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1.17
|
|
|
|
||
Diluted
|
|
$
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1.05
|
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$
|
1.15
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CASH DIVIDENDS PER SHARE
|
|
$
|
0.61
|
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|
|
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$
|
0.57
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|
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AVG. SHARES OUTSTANDING
|
|
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||||||
Basic
|
|
2,757.4
|
|
|
|
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2,737.0
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Diluted
|
|
2,818.1
|
|
|
|
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2,778.2
|
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Fiscal Third Quarters Ended
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Fiscal Nine Months Ended
|
||||||||||
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September 30, 2012
|
|
October 2, 2011
|
September 30, 2012
|
|
October 2, 2011
|
||||||
|
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||||||
Net Earnings
|
$
|
2,629
|
|
|
3,202
|
|
7,947
|
|
|
9,454
|
|
|
|
|
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|
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|
||||||
Other Comprehensive Income (Loss), net of tax
|
|
|
|
|
|
|
||||||
Foreign currency translation
|
1,485
|
|
|
(1,790
|
)
|
689
|
|
|
(3
|
)
|
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|
|
|
|
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|
||||||
Securities:
|
|
|
|
|
|
|
||||||
Unrealized holding gain (loss) arising during period
|
(263
|
)
|
|
(108
|
)
|
(194
|
)
|
|
327
|
|
||
Reclassifications to earnings
|
(3
|
)
|
|
(3
|
)
|
(4
|
)
|
|
(142
|
)
|
||
Net change
|
(266
|
)
|
|
(111
|
)
|
(198
|
)
|
|
185
|
|
||
|
|
|
|
|
|
|
||||||
Employee benefit plans:
|
|
|
|
|
|
|
||||||
Prior service cost amortization during period
|
—
|
|
|
1
|
|
1
|
|
|
3
|
|
||
Gain (loss) amortization during period
|
94
|
|
|
72
|
|
282
|
|
|
198
|
|
||
Net change
|
94
|
|
|
73
|
|
283
|
|
|
201
|
|
||
|
|
|
|
|
|
|
||||||
Derivatives & hedges:
|
|
|
|
|
|
|
||||||
Unrealized gain (loss) arising during period
|
(5
|
)
|
|
(117
|
)
|
(90
|
)
|
|
(105
|
)
|
||
Reclassifications to earnings
|
(29
|
)
|
|
67
|
|
23
|
|
|
185
|
|
||
Net change
|
(34
|
)
|
|
(50
|
)
|
(67
|
)
|
|
80
|
|
||
|
|
|
|
|
|
|
||||||
Other Comprehensive Income (Loss)
|
1,279
|
|
|
(1,878
|
)
|
707
|
|
|
463
|
|
||
|
|
|
|
|
|
|
||||||
Comprehensive Income
|
3,908
|
|
|
1,324
|
|
$
|
8,654
|
|
|
9,917
|
|
|
|
|
|
|
|
|
|
||||||
Comprehensive Loss Attributable To Noncontrolling Interest, net of tax
|
339
|
|
|
—
|
|
339
|
|
|
—
|
|
||
|
|
|
|
|
|
|
||||||
Comprehensive Income Attributable To Johnson & Johnson
|
$
|
4,247
|
|
|
1,324
|
|
8,993
|
|
|
9,917
|
|
|
|
|
|
|
|
|
|
The tax effects in other comprehensive income for the fiscal third quarters were as follows for 2012 and 2011 respectively: Securities; $144 million and $59 million, Employee Benefits; $49 million and $39 million, Derivatives & Hedges; $18 million and $26 million.
|
|
The tax effects in other comprehensive income for the fiscal nine months were as follows for 2012 and 2011 respectively: Securities; $107 million and $100 million, Employee Benefits; $147 million and $108 million, Derivatives & Hedges; $36 million and $44 million.
|
|
Foreign currency translation is not adjusted for income taxes as it relates to permanent investments in international subsidiaries.
|
JOHNSON & JOHNSON AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; Dollars in Millions)
|
||||||||
|
|
Fiscal Nine Months Ended
|
||||||
|
|
September 30,
2012 |
|
October 2,
2011 |
||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
|
|
|
|
||||
Net earnings
|
|
$
|
7,947
|
|
|
$
|
9,454
|
|
Adjustments to reconcile net earnings to cash flows from operating activities:
|
|
|
|
|
||||
Depreciation and amortization of property and intangibles
|
|
2,630
|
|
|
2,315
|
|
||
Stock based compensation
|
|
515
|
|
|
484
|
|
||
Noncontrolling interest
|
|
339
|
|
|
—
|
|
||
Intangible asset write-downs
|
|
2,047
|
|
|
160
|
|
||
Deferred tax provision
|
|
(324
|
)
|
|
(849
|
)
|
||
Accounts receivable allowances
|
|
86
|
|
|
(21
|
)
|
||
Changes in assets and liabilities, net of effects from acquisitions:
|
|
|
|
|
||||
Decrease/(Increase) in accounts receivable
|
|
94
|
|
|
(489
|
)
|
||
Increase in inventories
|
|
(593
|
)
|
|
(787
|
)
|
||
Increase/(Decrease) in accounts payable and accrued liabilities
|
|
1,220
|
|
|
(100
|
)
|
||
Increase in other current and non-current assets
|
|
(790
|
)
|
|
(1,066
|
)
|
||
(Decrease)/Increase in other current and non-current liabilities
|
|
(1,151
|
)
|
|
1,746
|
|
||
|
|
|
|
|
||||
NET CASH FLOWS FROM OPERATING ACTIVITIES
|
|
12,020
|
|
|
10,847
|
|
||
|
|
|
|
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
||||
Additions to property, plant and equipment
|
|
(1,782
|
)
|
|
(1,765
|
)
|
||
Proceeds from the disposal of assets
|
|
905
|
|
|
721
|
|
||
Acquisitions, net of cash acquired
|
|
(4,423
|
)
|
|
(2,469
|
)
|
||
Purchases of investments
|
|
(8,837
|
)
|
|
(25,444
|
)
|
||
Sales of investments
|
|
12,134
|
|
|
18,438
|
|
||
Other
|
|
(4
|
)
|
|
(331
|
)
|
||
|
|
|
|
|
||||
NET CASH USED BY INVESTING ACTIVITIES
|
|
(2,007
|
)
|
|
(10,850
|
)
|
||
|
|
|
|
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
||||
Dividends to shareholders
|
|
(4,924
|
)
|
|
(4,601
|
)
|
||
Repurchase of common stock
|
|
(12,919
|
)
|
|
(1,672
|
)
|
||
Proceeds from short-term debt
|
|
3,606
|
|
|
7,216
|
|
||
Retirement of short-term debt
|
|
(5,780
|
)
|
|
(10,044
|
)
|
||
Proceeds from long-term debt
|
|
16
|
|
|
4,471
|
|
||
Retirement of long-term debt
|
|
(796
|
)
|
|
(12
|
)
|
||
Proceeds from the exercise of stock options/excess tax benefits
|
|
1,817
|
|
|
946
|
|
||
Other
|
|
(111
|
)
|
|
—
|
|
||
|
|
|
|
|
||||
NET CASH USED BY FINANCING ACTIVITIES
|
|
(19,091
|
)
|
|
(3,696
|
)
|
||
|
|
|
|
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
|
22
|
|
|
(39
|
)
|
||
Decrease in cash and cash equivalents
|
|
(9,056
|
)
|
|
(3,738
|
)
|
||
Cash and Cash equivalents, beginning of period
|
|
24,542
|
|
|
19,355
|
|
||
CASH AND CASH EQUIVALENTS, END OF PERIOD
|
|
$
|
15,486
|
|
|
$
|
15,617
|
|
|
|
|
|
|
||||
|
|
|
|
|
JOHNSON & JOHNSON AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; Dollars in Millions)
|
||||||||
|
|
Fiscal Nine Months Ended
|
||||||
|
|
September 30,
2012 |
|
October 2,
2011 |
||||
Supplemental schedule of non-cash investing and financing activities
|
|
|
|
|
||||
Issuance of common stock associated with the acquisition of Synthes, Inc.
|
|
13,335
|
|
|
—
|
|
||
|
|
|
|
|
||||
Acquisitions
|
|
|
|
|
||||
Fair value of assets acquired
|
|
$
|
18,984
|
|
|
$
|
2,689
|
|
Fair value of liabilities assumed and noncontrolling interests
|
|
(1,226
|
)
|
|
(220
|
)
|
||
Net fair value of acquisitions
|
|
$
|
17,758
|
|
|
$
|
2,469
|
|
Less: Issuance of common stock associated with the acquisition of Synthes, Inc.
|
|
$
|
13,335
|
|
|
$
|
—
|
|
Net cash paid for acquisitions
|
|
$
|
(4,423
|
)
|
|
$
|
(2,469
|
)
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
January 1, 2012
|
|||
Raw materials and supplies
|
|
$
|
1,408
|
|
|
1,206
|
|
Goods in process
|
|
2,480
|
|
|
1,637
|
|
|
Finished goods
|
|
3,921
|
|
|
3,442
|
|
|
Total inventories
|
|
$
|
7,809
|
|
|
6,285
|
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
January 1, 2012
|
|||
Intangible assets with definite lives:
|
|
|
|
|
|||
Patents and trademarks — gross
|
|
$
|
8,874
|
|
|
7,947
|
|
Less accumulated amortization
|
|
3,317
|
|
|
2,976
|
|
|
Patents and trademarks — net
|
|
5,557
|
|
|
4,971
|
|
|
Customer relationships and other intangibles — gross
|
|
18,646
|
|
|
8,716
|
|
|
Less accumulated amortization
|
|
3,891
|
|
|
3,432
|
|
|
Customer relationships and other intangibles — net
|
|
14,755
|
|
|
5,284
|
|
|
Intangible assets with indefinite lives:
|
|
|
|
|
|||
Trademarks
|
|
7,521
|
|
|
6,034
|
|
|
Purchased in-process research and development
|
|
957
|
|
|
1,849
|
|
|
Total intangible assets with indefinite lives
|
|
8,478
|
|
|
7,883
|
|
|
Total intangible assets — net
|
|
$
|
28,790
|
|
|
18,138
|
|
(Dollars in Millions)
|
|
Consumer
|
|
Pharm
|
|
Med Dev & Diag
|
|
Total
|
|||||
Goodwill, net at January 1, 2012
|
|
$
|
8,298
|
|
|
1,721
|
|
|
6,119
|
|
|
16,138
|
|
Acquisitions
|
|
—
|
|
|
48
|
|
|
5,451
|
|
|
5,499
|
|
|
Currency translation/Other
|
|
161
|
|
|
(1
|
)
|
|
(20
|
)
|
|
140
|
|
|
Goodwill, net as of September 30, 2012
|
|
$
|
8,459
|
|
|
1,768
|
|
|
11,550
|
|
|
21,777
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Gain/ (Loss)
recognized in
Accumulated
OCI
(1)
|
|
Gain/(Loss) reclassified from
Accumulated OCI
into income
(1)
|
|
Gain/ (Loss)
recognized in
Other
income/expense
(2)
|
|||||||||||||
|
|
Fiscal Third Quarters Ended
|
|||||||||||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
September 30, 2012
|
|
October 2, 2011
|
|
September 30, 2012
|
|
October 2, 2011
|
|||||||
Cash Flow Hedges by Income Statement Caption
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Sales to customers
(3)
|
|
$
|
30
|
|
|
(57
|
)
|
|
(12
|
)
|
|
4
|
|
|
(1
|
)
|
|
1
|
|
Cost of products sold
(3)
|
|
(61
|
)
|
|
(58
|
)
|
|
(19
|
)
|
|
(21
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|
Research and development expense
(3)
|
|
22
|
|
|
6
|
|
|
43
|
|
|
(40
|
)
|
|
—
|
|
|
1
|
|
|
Interest (income)/Interest expense, net
(4)
|
|
28
|
|
|
(67
|
)
|
|
(2
|
)
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
Other (income)expense, net
(3)
|
|
(24
|
)
|
|
59
|
|
|
19
|
|
|
(4
|
)
|
|
1
|
|
|
(1
|
)
|
|
Total
|
|
$
|
(5
|
)
|
|
(117
|
)
|
|
29
|
|
|
(67
|
)
|
|
(1
|
)
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Gain/ (Loss)
recognized in
Accumulated
OCI
(1)
|
|
Gain/ (Loss) reclassified from
Accumulated OCI
into income
(1)
|
|
Gain/ (Loss)
recognized in
Other
income/expense
(2)
|
|||||||||||||
|
|
Fiscal Nine Months Ended
|
|||||||||||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
September 30, 2012
|
|
October 2, 2011
|
|
September 30, 2012
|
|
October 2, 2011
|
|||||||
Cash Flow Hedges by Income Statement Caption
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Sales to customers
(3)
|
|
$
|
16
|
|
|
(30
|
)
|
|
(42
|
)
|
|
(6
|
)
|
|
(1
|
)
|
|
(1
|
)
|
Cost of products sold
(3)
|
|
(100
|
)
|
|
34
|
|
|
(53
|
)
|
|
(127
|
)
|
|
(1
|
)
|
|
2
|
|
|
Research and development expense
(3)
|
|
33
|
|
|
(2
|
)
|
|
56
|
|
|
(21
|
)
|
|
—
|
|
|
(1
|
)
|
|
Interest (income)/Interest expense, net
(4)
|
|
(14
|
)
|
|
(107
|
)
|
|
(11
|
)
|
|
(24
|
)
|
|
—
|
|
|
—
|
|
|
Other (income)expense, net
(3)
|
|
(25
|
)
|
|
—
|
|
|
27
|
|
|
(7
|
)
|
|
—
|
|
|
1
|
|
|
Total
|
|
$
|
(90
|
)
|
|
(105
|
)
|
|
(23
|
)
|
|
(185
|
)
|
|
(2
|
)
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2012
|
|
|
|
January 1, 2012
|
||||||||||
(Dollars in Millions)
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
Total
(2)
|
||||||
Derivatives designated as hedging instruments:
|
|
|
|
|
|
|
|
|
|
|
||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign exchange contracts
|
|
$
|
—
|
|
|
213
|
|
|
—
|
|
|
213
|
|
|
442
|
|
Cross currency interest rate swaps
(3)
|
|
—
|
|
|
9
|
|
|
—
|
|
|
9
|
|
|
15
|
|
|
Total
|
|
—
|
|
|
222
|
|
|
—
|
|
|
222
|
|
|
457
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign exchange contracts
|
|
—
|
|
|
315
|
|
|
—
|
|
|
315
|
|
|
452
|
|
|
Cross currency interest rate swaps
(4)
|
|
—
|
|
|
583
|
|
|
—
|
|
|
583
|
|
|
594
|
|
|
Total
|
|
—
|
|
|
898
|
|
|
—
|
|
|
898
|
|
|
1,046
|
|
|
Derivatives not designated as hedging instruments:
|
|
|
|
|
|
|
|
|
|
|
||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign exchange contracts
|
|
—
|
|
|
18
|
|
|
—
|
|
|
18
|
|
|
29
|
|
|
Swiss Franc Option
(5)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
17
|
|
|
Total
|
|
—
|
|
|
18
|
|
|
—
|
|
|
18
|
|
|
46
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign exchange contracts
|
|
—
|
|
|
27
|
|
|
—
|
|
|
27
|
|
|
34
|
|
|
Other Investments
(1)
|
|
$
|
1,258
|
|
|
—
|
|
|
—
|
|
|
1,258
|
|
|
1,563
|
|
(1)
|
Classified as non-current other assets.
|
(2)
|
As of January 1, 2012, these assets and liabilities are classified as Level 2 with the exception of Other Investments of $
1,563 million
which are classified as Level 1.
|
(3)
|
Includes
$6 million
and
$15 million
of non-current assets for
September 30, 2012
and January 1, 2012, respectively.
|
(4)
|
Includes
$576 million
and
$594 million
of non-current liabilities for
September 30, 2012
and January 1, 2012, respectively.
|
|
|
Retirement Plans
|
|
Other Benefit Plans
|
|||||||||
|
|
Fiscal Third Quarters Ended
|
|||||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
September 30, 2012
|
|
October 2, 2011
|
|||||
Service cost
|
|
$
|
163
|
|
|
146
|
|
|
42
|
|
|
38
|
|
Interest cost
|
|
218
|
|
|
214
|
|
|
41
|
|
|
47
|
|
|
Expected return on plan assets
|
|
(307
|
)
|
|
(279
|
)
|
|
(1
|
)
|
|
—
|
|
|
Amortization of prior service cost/(credit)
|
|
2
|
|
|
3
|
|
|
(1
|
)
|
|
(1
|
)
|
|
Amortization of net transition obligation
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Recognized actuarial losses
|
|
123
|
|
|
97
|
|
|
21
|
|
|
11
|
|
|
Curtailments and settlements
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Net periodic benefit cost
|
|
$
|
200
|
|
|
181
|
|
|
102
|
|
|
95
|
|
|
|
Retirement Plans
|
|
Other Benefit Plans
|
|||||||||
|
|
Fiscal Nine Months Ended
|
|||||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
September 30, 2012
|
|
October 2, 2011
|
|||||
Service cost
|
|
$
|
492
|
|
|
433
|
|
|
131
|
|
|
112
|
|
Interest cost
|
|
659
|
|
|
641
|
|
|
123
|
|
|
141
|
|
|
Expected return on plan assets
|
|
(927
|
)
|
|
(834
|
)
|
|
(3
|
)
|
|
(1
|
)
|
|
Amortization of prior service cost/(credit)
|
|
4
|
|
|
7
|
|
|
(3
|
)
|
|
(2
|
)
|
|
Amortization of net transition obligation
|
|
1
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
Recognized actuarial losses
|
|
371
|
|
|
291
|
|
|
59
|
|
|
34
|
|
|
Curtailments and settlements
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Net periodic benefit cost
|
|
$
|
599
|
|
|
539
|
|
|
307
|
|
|
284
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
Foreign
|
|
Securities
|
|
Employee
|
|
Derivatives
|
|
Total Accumulated
|
||||||
Gains/(Losses)
|
|
Currency
|
|
Available
|
|
Benefit
|
|
&
|
|
Other Comprehensive
|
||||||
(Dollars in Millions)
|
|
Translation
|
|
For Sale
|
|
Plans
|
|
Hedges
|
|
Income/(Loss)
|
||||||
January 1, 2012
|
|
$
|
(1,526
|
)
|
|
448
|
|
|
(4,386
|
)
|
|
(168
|
)
|
|
(5,632
|
)
|
Net change
|
|
689
|
|
|
(198
|
)
|
|
283
|
|
|
(67
|
)
|
|
707
|
|
|
September 30, 2012
|
|
$
|
(837
|
)
|
|
250
|
|
|
(4,103
|
)
|
|
(235
|
)
|
|
(4,925
|
)
|
|
|
Fiscal Third Quarters Ended
|
||||||
(Shares in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
||||
Basic net earnings per share attributable to Johnson & Johnson
|
|
$
|
1.08
|
|
|
$
|
1.17
|
|
Average shares outstanding — basic
|
|
2,757.4
|
|
|
2,737.0
|
|
||
Potential shares exercisable under stock option plans
|
|
181.6
|
|
|
165.0
|
|
||
Less: shares which could be repurchased under treasury stock method
|
|
(141.5
|
)
|
|
(127.4
|
)
|
||
Convertible debt shares
|
|
3.6
|
|
|
3.6
|
|
||
Accelerated share repurchase program
|
|
17.0
|
|
|
—
|
|
||
Average shares outstanding — diluted
|
|
2,818.1
|
|
|
2,778.2
|
|
||
Diluted earnings per share attributable to Johnson & Johnson
|
|
$
|
1.05
|
|
|
$
|
1.15
|
|
|
|
Fiscal Nine Months Ended
|
||||||
(Shares in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
||||
Basic net earnings per share attributable to Johnson & Johnson
|
|
$
|
3.02
|
|
|
$
|
3.45
|
|
Average shares outstanding — basic
|
|
2,747.1
|
|
|
2,738.5
|
|
||
Potential shares exercisable under stock option plans
|
|
181.5
|
|
|
164.7
|
|
||
Less: shares which could be repurchased under treasury stock method
|
|
(144.2
|
)
|
|
(129.2
|
)
|
||
Convertible debt shares
|
|
3.6
|
|
|
3.6
|
|
||
Accelerated share repurchase program
|
|
17.0
|
|
|
—
|
|
||
Average shares outstanding — diluted
|
|
2,805.0
|
|
|
2,777.6
|
|
||
Diluted earnings per share attributable to Johnson & Johnson
|
|
$
|
2.96
|
|
|
$
|
3.40
|
|
|
|
Fiscal Third Quarters Ended
|
|||||||||
(Dollars in Millions)
|
|
September 30,
2012 |
|
October 2,
2011 |
|
Percent
Change
|
|||||
|
|
|
|
|
|
|
|||||
Consumer
|
|
|
|
|
|
|
|||||
United States
|
|
$
|
1,214
|
|
|
$
|
1,219
|
|
|
(0.4
|
)%
|
International
|
|
2,367
|
|
|
2,521
|
|
|
(6.1
|
)
|
||
Total
|
|
3,581
|
|
|
3,740
|
|
|
(4.3
|
)
|
||
Pharmaceutical
|
|
|
|
|
|
|
|||||
United States
|
|
3,288
|
|
|
2,869
|
|
|
14.6
|
|
||
International
|
|
3,114
|
|
|
3,113
|
|
|
0.0
|
|
||
Total
|
|
6,402
|
|
|
5,982
|
|
|
7.0
|
|
||
Medical Devices & Diagnostics
|
|
|
|
|
|
|
|||||
United States
|
|
3,289
|
|
|
2,780
|
|
|
18.3
|
|
||
International
|
|
3,780
|
|
|
3,503
|
|
|
7.9
|
|
||
Total
|
|
7,069
|
|
|
6,283
|
|
|
12.5
|
|
||
Worldwide
|
|
|
|
|
|
|
|||||
United States
|
|
7,791
|
|
|
6,868
|
|
|
13.4
|
|
||
International
|
|
9,261
|
|
|
9,137
|
|
|
1.4
|
|
||
Total
|
|
$
|
17,052
|
|
|
$
|
16,005
|
|
|
6.5
|
%
|
|
|
|
|
|
|
|
|||||
|
|
Fiscal Nine Months Ended
|
|||||||||
(Dollars in Millions)
|
|
September 30,
2012 |
|
October 2,
2011 |
|
Percent
Change
|
|||||
|
|
|
|
|
|
|
|||||
Consumer
|
|
|
|
|
|
|
|||||
United States
|
|
$
|
3,843
|
|
|
$
|
3,903
|
|
|
(1.5
|
)%
|
International
|
|
6,952
|
|
|
7,312
|
|
|
(4.9
|
)
|
||
Total
|
|
10,795
|
|
|
11,215
|
|
|
(3.7
|
)
|
||
Pharmaceutical
|
|
|
|
|
|
|
|||||
United States
|
|
9,408
|
|
|
9,499
|
|
|
(1.0
|
)
|
||
International
|
|
9,418
|
|
|
8,775
|
|
|
7.3
|
|
||
Total
|
|
18,826
|
|
|
18,274
|
|
|
3.0
|
|
||
Medical Devices & Diagnostics
|
|
|
|
|
|
|
|||||
United States
|
|
9,119
|
|
|
8,521
|
|
|
7.0
|
|
||
International
|
|
10,926
|
|
|
10,765
|
|
|
1.5
|
|
||
Total
|
|
20,045
|
|
|
19,286
|
|
|
3.9
|
|
||
Worldwide
|
|
|
|
|
|
|
|||||
United States
|
|
22,370
|
|
|
21,923
|
|
|
2.0
|
|
||
International
|
|
27,296
|
|
|
26,852
|
|
|
1.7
|
|
||
Total
|
|
$
|
49,666
|
|
|
$
|
48,775
|
|
|
1.8
|
%
|
|
|
Fiscal Third Quarters Ended
|
|||||||||
(Dollars in Millions)
|
|
September 30,
2012 |
|
October 2,
2011 |
|
Percent
Change
|
|||||
Consumer
|
|
$
|
510
|
|
|
$
|
644
|
|
|
(20.8
|
)%
|
Pharmaceutical
(2)
|
|
1,388
|
|
|
2,078
|
|
|
(33.2
|
)
|
||
Medical Devices & Diagnostics
(3)
|
|
1,927
|
|
|
1,927
|
|
|
—
|
|
||
Segments operating profit
|
|
3,825
|
|
|
4,649
|
|
|
(17.7
|
)
|
||
Expense not allocated to segments
(4)
|
|
(230
|
)
|
|
(538
|
)
|
|
|
|||
Worldwide income before taxes
|
|
$
|
3,595
|
|
|
$
|
4,111
|
|
|
(12.6
|
)%
|
|
|
|
|
|
|
|
|||||
|
|
Fiscal Nine Months Ended
|
|||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Percent
Change
|
|||||
Consumer
(1)
|
|
$
|
1,239
|
|
|
$
|
1,766
|
|
|
(29.8
|
)%
|
Pharmaceutical
(2)
|
|
4,494
|
|
|
6,001
|
|
|
(25.1
|
)
|
||
Medical Devices & Diagnostics
(3)
|
|
5,880
|
|
|
5,146
|
|
|
14.3
|
|
||
Segments operating profit
|
|
11,613
|
|
|
12,913
|
|
|
(10.1
|
)
|
||
Expense not allocated to segments
(4)
|
|
(938
|
)
|
|
(870
|
)
|
|
|
|||
Worldwide income before taxes
|
|
$
|
10,675
|
|
|
$
|
12,043
|
|
|
(11.4
|
)%
|
|
|
Fiscal Third Quarters Ended
|
|||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Percent
Change
|
|||||
United States
|
|
$
|
7,791
|
|
|
$
|
6,868
|
|
|
13.4
|
%
|
Europe
|
|
3,983
|
|
|
4,124
|
|
|
(3.4
|
)
|
||
Western Hemisphere, excluding U.S.
|
|
1,824
|
|
|
1,751
|
|
|
4.2
|
|
||
Asia-Pacific, Africa
|
|
3,454
|
|
|
3,262
|
|
|
5.9
|
|
||
Total
|
|
$
|
17,052
|
|
|
$
|
16,005
|
|
|
6.5
|
%
|
|
|
|
|
|
|
|
|||||
|
|
Fiscal Nine Months Ended
|
|||||||||
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Percent
Change
|
|||||
United States
|
|
$
|
22,370
|
|
|
$
|
21,923
|
|
|
2.0
|
%
|
Europe
|
|
12,342
|
|
|
12,850
|
|
|
(4.0
|
)
|
||
Western Hemisphere, excluding U.S.
|
|
5,266
|
|
|
4,730
|
|
|
11.3
|
|
||
Asia-Pacific, Africa
|
|
9,688
|
|
|
9,272
|
|
|
4.5
|
|
||
Total
|
|
$
|
49,666
|
|
|
$
|
48,775
|
|
|
1.8
|
%
|
(Dollars in Millions)
|
|
|
||
Cash (multiply 55.65CHF by shares of Synthes common stock outstanding by the exchange rate)
(A)
|
|
$
|
6,902
|
|
Common Stock (multiply 1.717 by shares of Synthes common stock outstanding by J&J stock price)
(B)
|
|
$
|
13,335
|
|
Total fair value of consideration transferred
|
|
$
|
20,237
|
|
(Dollars in Millions)
|
|
||
Cash & Cash equivalents
|
$
|
2,749
|
|
Inventory
(1)
|
889
|
|
|
Accounts Receivable, net
|
738
|
|
|
Other current assets
|
249
|
|
|
Property, plant and equipment
|
1,253
|
|
|
Goodwill
|
5,371
|
|
|
Intangible assets
|
12,929
|
|
|
Other non-current assets
|
46
|
|
|
Total Assets Acquired
|
24,224
|
|
|
|
|
||
Current liabilities
|
825
|
|
|
Deferred Taxes
|
2,731
|
|
|
Other non-current liabilities
|
431
|
|
|
Total Liabilities Assumed
|
3,987
|
|
|
|
|
||
Net Assets Acquired
|
$
|
20,237
|
|
|
Unaudited Pro forma consolidated results
|
|||||||
|
Fiscal Nine Months Ended
|
|
Fiscal Third Quarter Ended
|
|||||
(Dollars in Millions Except Per Share Data)
|
September 30, 2012
|
October 2, 2011
|
|
October 2, 2011
|
||||
|
|
|
|
|
||||
Net Sales
|
$
|
51,336
|
|
51,558
|
|
|
16,949
|
|
Net Earnings attributable to Johnson & Johnson
|
$
|
8,734
|
|
9,346
|
|
|
3,207
|
|
Diluted Net Earnings per Common Share attributable to Johnson & Johnson
|
$
|
3.11
|
|
3.37
|
|
|
1.15
|
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Total
Change
|
|
Operations
Change
|
|
Currency
Change
|
|||||||
OTC Pharm. & Nutritionals
|
|
$
|
3,196
|
|
|
$
|
3,266
|
|
|
(2.1
|
)%
|
|
2.0
|
%
|
|
(4.1
|
)%
|
Skin Care
|
|
2,724
|
|
|
2,771
|
|
|
(1.7
|
)
|
|
1.5
|
|
|
(3.2
|
)
|
||
Baby Care
|
|
1,682
|
|
|
1,772
|
|
|
(5.1
|
)
|
|
(0.1
|
)
|
|
(5.0
|
)
|
||
Women’s Health
|
|
1,218
|
|
|
1,394
|
|
|
(12.6
|
)
|
|
(6.7
|
)
|
|
(5.9
|
)
|
||
Oral Care
|
|
1,208
|
|
|
1,212
|
|
|
(0.3
|
)
|
|
3.7
|
|
|
(4.0
|
)
|
||
Wound Care/Other
|
|
767
|
|
|
800
|
|
|
(4.1
|
)
|
|
(1.5
|
)
|
|
(2.6
|
)
|
||
Total Consumer Sales
|
|
$
|
10,795
|
|
|
$
|
11,215
|
|
|
(3.7
|
)%
|
|
0.4%
|
|
|
(4.1
|
)%
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Total
Change |
|
Operations
Change |
|
Currency
Change |
|||||||
OTC Pharm. & Nutritionals
|
|
$
|
1,060
|
|
|
$
|
1,054
|
|
|
0.6
|
%
|
|
5.9
|
%
|
|
(5.3
|
)%
|
Skin Care
|
|
904
|
|
|
943
|
|
|
(4.1
|
)
|
|
0.2
|
|
|
(4.3
|
)
|
||
Baby Care
|
|
564
|
|
|
613
|
|
|
(8.0
|
)
|
|
(1.9
|
)
|
|
(6.1
|
)
|
||
Oral Care
|
|
413
|
|
|
422
|
|
|
(2.1
|
)
|
|
3.0
|
|
|
(5.1
|
)
|
||
Women’s Health
|
|
407
|
|
|
458
|
|
|
(11.1
|
)
|
|
(3.2
|
)
|
|
(7.9
|
)
|
||
Wound Care/Other
|
|
233
|
|
|
250
|
|
|
(6.8
|
)
|
|
(3.6
|
)
|
|
(3.2
|
)
|
||
Total Consumer Sales
|
|
$
|
3,581
|
|
|
$
|
3,740
|
|
|
(4.3
|
)%
|
|
1.0
|
%
|
|
(5.3
|
)%
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Total
Change
|
|
Operations
Change
|
|
Currency
Change
|
|||||||
Total Immunology
|
|
$
|
5,898
|
|
|
$
|
5,002
|
|
|
17.9
|
%
|
|
19.2
|
%
|
|
(1.3
|
)%
|
REMICADE
®
|
|
4,635
|
|
|
4,064
|
|
|
14.1
|
|
|
15.1
|
|
|
(1.0
|
)
|
||
SIMPONI
®
|
|
426
|
|
|
291
|
|
|
46.4
|
|
|
49.8
|
|
|
(3.4
|
)
|
||
STELARA
®
|
|
756
|
|
|
531
|
|
|
42.4
|
|
|
46.1
|
|
|
(3.7
|
)
|
||
Other Immunology
|
|
81
|
|
|
116
|
|
|
(30.2
|
)
|
|
(27.2
|
)
|
|
(3.0
|
)
|
||
Total Infectious Diseases
|
|
2,338
|
|
|
2,473
|
|
|
(5.5
|
)
|
|
(0.7
|
)
|
|
(4.8
|
)
|
||
INTELENCE
®
|
|
265
|
|
|
231
|
|
|
14.7
|
|
|
19.4
|
|
|
(4.7
|
)
|
||
LEVAQUIN
®
/FLOXIN
®
|
|
65
|
|
|
618
|
|
|
(89.5
|
)
|
|
(89.2
|
)
|
|
(0.3
|
)
|
||
PREZISTA
®
|
|
1,061
|
|
|
895
|
|
|
18.5
|
|
|
23.5
|
|
|
(5.0
|
)
|
||
Other Infectious Diseases
|
|
947
|
|
|
729
|
|
|
29.9
|
|
|
38.4
|
|
|
(8.5
|
)
|
||
Total Neuroscience
|
|
5,029
|
|
|
5,209
|
|
|
(3.5
|
)
|
|
(0.2
|
)
|
|
(3.3
|
)
|
||
CONCERTA
®
/methylphenidate
|
|
830
|
|
|
994
|
|
|
(16.5
|
)
|
|
(14.5
|
)
|
|
(2.0
|
)
|
||
INVEGA
®
|
|
403
|
|
|
374
|
|
|
7.8
|
|
|
10.0
|
|
|
(2.2
|
)
|
||
INVEGA
®
SUSTENNA
®
/XEPLION
®
|
|
568
|
|
|
243
|
|
|
**
|
|
**
|
|
(2.7
|
)
|
||||
RISPERDAL
®
CONSTA
®
|
|
1,067
|
|
|
1,198
|
|
|
(10.9
|
)
|
|
(6.7
|
)
|
|
(4.2
|
)
|
||
Other Neuroscience
|
|
2,161
|
|
|
2,400
|
|
|
(10.0
|
)
|
|
(6.9
|
)
|
|
(3.1
|
)
|
||
Total Oncology
|
|
1,810
|
|
|
1,485
|
|
|
21.9
|
|
|
29.0
|
|
|
(7.1
|
)
|
||
DOXIL
®
/CAELYX
®
|
|
53
|
|
|
363
|
|
|
(85.4
|
)
|
|
(84.6
|
)
|
|
(0.8
|
)
|
||
VELCADE
®
|
|
998
|
|
|
922
|
|
|
8.2
|
|
|
15.7
|
|
|
(7.5
|
)
|
||
ZYTIGA
®
|
|
697
|
|
|
149
|
|
|
**
|
|
**
|
|
(4.2
|
)
|
||||
Other Oncology
|
|
62
|
|
|
51
|
|
|
21.6
|
|
|
28.1
|
|
|
(6.5
|
)
|
||
Total Other
|
|
3,751
|
|
|
4,105
|
|
|
(8.6
|
)
|
|
(5.5
|
)
|
|
(3.1
|
)
|
||
ACIPHEX
®
/PARIET
®
|
|
649
|
|
|
721
|
|
|
(10.0
|
)
|
|
(5.7
|
)
|
|
(4.3
|
)
|
||
PROCRIT
®
/EPREX
®
|
|
1,136
|
|
|
1,255
|
|
|
(9.5
|
)
|
|
(6.4
|
)
|
|
(3.1
|
)
|
||
Other
|
|
1,966
|
|
|
2,129
|
|
|
(7.7
|
)
|
|
(5.0
|
)
|
|
(2.7
|
)
|
||
Total Pharmaceutical Sales
|
|
$
|
18,826
|
|
|
$
|
18,274
|
|
|
3.0
|
%
|
|
6.3
|
%
|
|
(3.3
|
)%
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Total
Change
|
|
Operations
Change
|
|
Currency
Change
|
|||||||
Total Immunology
|
|
$
|
2,084
|
|
|
$
|
1,767
|
|
|
17.9
|
%
|
|
19.8
|
%
|
|
(1.9
|
)%
|
REMICADE
®
|
|
1,591
|
|
|
1,408
|
|
|
13.0
|
|
|
14.3
|
|
|
(1.3
|
)
|
||
SIMPONI
®
|
|
185
|
|
|
129
|
|
|
43.4
|
|
|
47.9
|
|
|
(4.5
|
)
|
||
STELARA
®
|
|
287
|
|
|
189
|
|
|
51.9
|
|
|
56.4
|
|
|
(4.5
|
)
|
||
Other Immunology
|
|
21
|
|
|
41
|
|
|
(48.8
|
)
|
|
(46.6
|
)
|
|
(2.2
|
)
|
||
Total Infectious Diseases
|
|
795
|
|
|
714
|
|
|
11.3
|
|
|
18.6
|
|
|
(7.3
|
)
|
||
INTELENCE
®
|
|
94
|
|
|
83
|
|
|
13.3
|
|
|
19.5
|
|
|
(6.2
|
)
|
||
LEVAQUIN
®
/FLOXIN
®
|
|
20
|
|
|
25
|
|
|
(20.0
|
)
|
|
(18.1
|
)
|
|
(1.9
|
)
|
||
PREZISTA
®
|
|
364
|
|
|
316
|
|
|
15.2
|
|
|
21.3
|
|
|
(6.1
|
)
|
||
Other Infectious Diseases
|
|
317
|
|
|
290
|
|
|
9.3
|
|
|
18.7
|
|
|
(9.4
|
)
|
||
Total Neuroscience
|
|
1,668
|
|
|
1,684
|
|
|
(1.0
|
)
|
|
3.3
|
|
|
(4.3
|
)
|
||
CONCERTA
®
/methylphenidate
|
|
254
|
|
|
283
|
|
|
(10.2
|
)
|
|
(7.7
|
)
|
|
(2.5
|
)
|
||
INVEGA
®
|
|
140
|
|
|
126
|
|
|
11.1
|
|
|
14.3
|
|
|
(3.2
|
)
|
||
INVEGA
®
SUSTENNA
®
/XEPLION
®
|
|
212
|
|
|
101
|
|
|
**
|
|
**
|
|
(3.4
|
)
|
||||
RISPERDAL
®
CONSTA
®
|
|
351
|
|
|
390
|
|
|
(10.0
|
)
|
|
(4.6
|
)
|
|
(5.4
|
)
|
||
Other Neuroscience
|
|
711
|
|
|
784
|
|
|
(9.3
|
)
|
|
(5.0
|
)
|
|
(4.3
|
)
|
||
Total Oncology
|
|
628
|
|
|
494
|
|
|
27.1
|
|
|
36.2
|
|
|
(9.1
|
)
|
||
DOXIL
®
/CAELYX
®
|
|
16
|
|
|
86
|
|
|
(81.4
|
)
|
|
(80.4
|
)
|
|
(1.0
|
)
|
||
VELCADE
®
|
|
327
|
|
|
295
|
|
|
10.8
|
|
|
20.7
|
|
|
(9.9
|
)
|
||
ZYTIGA
®
|
|
265
|
|
|
95
|
|
|
**
|
|
**
|
|
(5.2
|
)
|
||||
Other Oncology
|
|
20
|
|
|
18
|
|
|
11.1
|
|
|
18.8
|
|
|
(7.7
|
)
|
||
Total Other
|
|
1,227
|
|
|
1,323
|
|
|
(7.3
|
)
|
|
(3.3
|
)
|
|
(4.0
|
)
|
||
ACIPHEX
®
/PARIET
®
|
|
195
|
|
|
235
|
|
|
(17.0
|
)
|
|
(11.5
|
)
|
|
(5.5
|
)
|
||
PROCRIT
®
/EPREX
®
|
|
359
|
|
|
383
|
|
|
(6.3
|
)
|
|
(2.2
|
)
|
|
(4.1
|
)
|
||
Other
|
|
673
|
|
|
705
|
|
|
(4.5
|
)
|
|
(1.1
|
)
|
|
(3.4
|
)
|
||
Total Pharmaceutical Sales
|
|
$
|
6,402
|
|
|
$
|
5,982
|
|
|
7.0
|
%
|
|
11.3
|
%
|
|
(4.3
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Total
Change
|
|
Operations
Change
|
|
Currency
Change
|
|||||||
Orthopaedics
|
|
5,411
|
|
|
4,356
|
|
|
24.2
|
%
|
|
26.5
|
%
|
|
(2.3
|
)%
|
||
Surgical Care**
|
|
4,816
|
|
|
4,943
|
|
|
(2.6
|
)
|
|
0.8
|
|
|
(3.4
|
)
|
||
Vision Care
|
|
2,251
|
|
|
2,206
|
|
|
2.0
|
|
|
3.6
|
|
|
(1.6
|
)
|
||
Diabetes Care
|
|
1,972
|
|
|
1,982
|
|
|
(0.5
|
)
|
|
2.8
|
|
|
(3.3
|
)
|
||
Specialty Surgery
|
|
1,871
|
|
|
1,773
|
|
|
5.5
|
|
|
8.3
|
|
|
(2.8
|
)
|
||
Diagnostics
|
|
1,539
|
|
|
1,610
|
|
|
(4.4
|
)
|
|
(2.3
|
)
|
|
(2.1
|
)
|
||
Cardiovascular Care
|
|
1,479
|
|
|
1,748
|
|
|
(15.4
|
)
|
|
(13.0
|
)
|
|
(2.4
|
)
|
||
Infection Prevention/Other
|
|
706
|
|
|
668
|
|
|
5.7
|
|
|
8.1
|
|
|
(2.4
|
)
|
||
Total Medical Devices and Diagnostics Sales
|
|
$
|
20,045
|
|
|
$
|
19,286
|
|
|
3.9
|
%
|
|
6.5
|
%
|
|
(2.6
|
)%
|
(Dollars in Millions)
|
|
September 30, 2012
|
|
October 2, 2011
|
|
Total
Change
|
|
Operations
Change
|
|
Currency
Change
|
|||||||
Orthopaedics
|
|
2,290
|
|
|
1,384
|
|
|
65.5
|
%
|
|
68.6
|
%
|
|
(3.1
|
)%
|
||
Surgical Care**
|
|
1,551
|
|
|
1,622
|
|
|
(4.4
|
)
|
|
0.1
|
|
|
(4.5
|
)
|
||
Vision Care
|
|
764
|
|
|
752
|
|
|
1.6
|
|
|
4.4
|
|
|
(2.8
|
)
|
||
Diabetes Care
|
|
629
|
|
|
664
|
|
|
(5.3
|
)
|
|
(1.1
|
)
|
|
(4.2
|
)
|
||
Specialty Surgery
|
|
597
|
|
|
576
|
|
|
3.6
|
|
|
7.2
|
|
|
(3.6
|
)
|
||
Diagnostics
|
|
513
|
|
|
539
|
|
|
(4.8
|
)
|
|
(1.9
|
)
|
|
(2.9
|
)
|
||
Cardiovascular Care
|
|
493
|
|
|
526
|
|
|
(6.3
|
)
|
|
(2.7
|
)
|
|
(3.6
|
)
|
||
Infection Prevention/Other
|
|
232
|
|
|
220
|
|
|
5.5
|
|
|
9.0
|
|
|
(3.5
|
)
|
||
Total Medical Devices and Diagnostics Sales
|
|
$
|
7,069
|
|
|
$
|
6,283
|
|
|
12.5
|
%
|
|
16.1
|
%
|
|
(3.6
|
)%
|
|
|
|
|
|
|
JOHNSON & JOHNSON
(Registrant)
|
|
|
Date: November 8, 2012
|
By /s/ D. J. CARUSO
|
|
D. J. CARUSO
|
|
Vice President, Finance; Chief Financial Officer (Principal Financial Officer)
|
|
|
Date: November 8, 2012
|
By /s/ S. J. COSGROVE
|
|
S. J. COSGROVE
|
|
Controller (Principal Accounting Officer)
|
Peter M. Fasolo
|
|
|
|
|
Vice President, Global Human Resources
|
|
|
|
One Johnson & Johnson Plaza
|
Executive Committee Member
|
|
|
|
New Brunswick, NJ 08933
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 27, 2012
|
|
|
|
|
|
|
|
|
Sincerely,
|
|
|
|
|
|
|
|
|
|
/s/ Peter Fasolo
|
|
|
|
|
Peter Fasolo
|
|
|
|
|
Vice President, Global Human Resources
|
|
|
|
|
Executive Committee Member on behalf of
|
|
|
|
|
Johnson & Johnson
|
|
|
|
|
|
|
|
|
|
|
|
Agreed & Accepted:
|
|
|
|
|
|
|
|
|
|
/s/ Paul Stoffels
|
|
|
September 28, 2012
|
|
*Applicants signature or (printed name if by email)
|
|
|
Date
|
|
|
|
|
|
|
|
/s/ Alex Gorsky
|
|
Alex Gorsky
|
|
Chief Executive Officer
|
|
|
|
|
|
/s/ Dominic J. Caruso
|
|
Dominic J. Caruso
|
|
Chief Financial Officer
|
|
|
(1)
|
the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2012 (the “Report”) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and
|
(2)
|
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
|
|
|
|
/s/ Alex Gorsky
|
|
Alex Gorsky
|
|
Chief Executive Officer
|
|
|
(1)
|
the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2012 (the “Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and
|
(2)
|
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
|
|
|
|
|
/s/ Dominic J. Caruso
|
|
Dominic J. Caruso
|
|
Chief Financial Officer
|
|
|