Johnson & Johnson (JNJ) 8-K Results of Operations and Financial Condition

Exhibit 99.2

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	SECOND QUARTER
			Percent Change
	2020	2019	Total		Operations	Currency
Sales to customers by
geographic area
U.S.	$ 9,539	10,403	(8.3)	%	(8.3)	-
Europe	4,063	4,733	(14.2)		(11.5)	(2.7)
Western Hemisphere excluding U.S.	1,133	1,455	(22.1)		(8.9)	(13.2)
Asia-Pacific, Africa	3,601	3,971	(9.3)		(7.7)	(1.6)
International	8,797	10,159	(13.4)		(9.6)	(3.8)
Worldwide	$ 18,336	20,562	(10.8)	%	(9.0)	(1.8)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	SIX MONTHS
			Percent Change
	2020	2019	Total		Operations	Currency
Sales to customers by
geographic area
U.S.	$ 20,238	20,532	(1.4)	%	(1.4)	-
Europe	8,890	9,342	(4.8)		(2.1)	(2.7)
Western Hemisphere excluding U.S.	2,635	2,958	(10.9)		(0.1)	(10.8)
Asia-Pacific, Africa	7,264	7,751	(6.3)		(4.9)	(1.4)
International	18,789	20,051	(6.3)		(2.9)	(3.4)
Worldwide	$ 39,027	40,583	(3.8)	%	(2.2)	(1.6)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	SECOND QUARTER
				Percent Change
	2020		2019	Total		Operations	Currency
Sales to customers by
segment of business
Consumer Health
U.S.	$	1,557	1,537	1.3	%	1.3	—
International	1,739		2,007	(13.4)		(7.4)	(6.0)
	3,296		3,544	(7.0)		(3.6)	(3.4)
Pharmaceutical
U.S.	6,120		5,783	5.8		5.8	—
International	4,632		4,746	(2.4)		1.4	(3.8)
	10,752		10,529	2.1		3.9	(1.8)
Medical Devices
U.S.	1,862		3,083	(39.6)		(39.6)	—
International	2,426		3,406	(28.8)		(26.4)	(2.4)
	4,288		6,489	(33.9)		(32.7)	(1.2)
U.S.	9,539		10,403	(8.3)		(8.3)	—
International	8,797		10,159	(13.4)		(9.6)	(3.8)
Worldwide	$	18,336	20,562	(10.8)	%	(9.0)	(1.8)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)	SIX MONTHS
				Percent Change
	2020		2019	Total		Operations	Currency
Sales to customers by
segment of business
Consumer Health
U.S.	$	3,297	2,975	10.8	%	10.8	-
International	3,624		3,887	(6.8)		(1.9)	(4.9)
	6,921		6,862	0.9		3.6	(2.7)
Pharmaceutical
U.S.	12,181		11,365	7.2		7.2	-
International	9,705		9,408	3.2		6.7	(3.5)
	21,886		20,773	5.4		7.0	(1.6)
Medical Devices
U.S.	4,760		6,192	(23.1)		(23.1)	-
International	5,460		6,756	(19.2)		(16.8)	(2.4)
	10,220		12,948	(21.1)		(19.8)	(1.3)
U.S.	20,238		20,532	(1.4)		(1.4)	-
International	18,789		20,051	(6.3)		(2.9)	(3.4)
Worldwide	$	39,027	40,583	(3.8)	%	(2.2)	(1.6)
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)	SECOND QUARTER
	2020							2019		Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	18,336		100.0	$	20,562		100.0	(10.8)
Cost of products sold	6,579			35.9	6,940			33.8	(5.2)
Gross Profit	11,757			64.1	13,622			66.2	(13.7)
Selling, marketing and administrative expenses	4,993			27.2	5,546			27.0	(10.0)
Research and development expense	2,707			14.8	2,666			13.0	1.5
In-process research and development	6			0.0	—			—
Interest (income) expense, net	26			0.2	(5)			0.0
Other (income) expense, net	24			0.1	(1,683)			(8.2)
Restructuring	61			0.3	57			0.2
Earnings before provision for taxes on income	3,940			21.5	7,041			34.2	(44.0)
Provision for taxes on income	314			1.7	1,434			6.9	(78.1)
Net earnings	$	3,626		19.8	$	5,607		27.3	(35.3)
Net earnings per share (Diluted)	$	1.36			$	2.08			(34.6)
Average shares outstanding (Diluted)	2,665.5				2,691.7
Effective tax rate	8.0		%		20.4		%
Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	5,337		29.1	$	8,614		41.9	(38.0)
Net earnings	$	4,446		24.2	$	6,950		33.8	(36.0)
Net earnings per share (Diluted)	$	1.67			$	2.58			(35.3)
Effective tax rate	16.7		%		19.3		%
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate 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 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 before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate 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, 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)	SIX MONTHS
	2020							2019		Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	39,027		100.0	$	40,583		100.0	(3.8)
Cost of products sold	13,641			35.0	13,555			33.4	0.6
Gross Profit	25,386			65.0	27,028			66.6	(6.1)
Selling, marketing and administrative expenses	10,196			26.1	10,765			26.5	(5.3)
Research and development expense	5,287			13.5	5,524			13.6	(4.3)
In-process research and development	6			0.0	890			2.2
Interest (income) expense, net	(16)			0.0	(2)			0.0
Other (income) expense, net	(655)			(1.7)	(1,705)			(4.2)
Restructuring	119			0.3	93			0.3
Earnings before provision for taxes on income	10,449			26.8	11,463			28.2	(8.8)
Provision for taxes on income	1,027			2.7	2,107			5.1	(51.3)
Net earnings	$	9,422		24.1	$	9,356		23.1	0.7
Net earnings per share (Diluted)	$	3.53			$	3.47			1.7
Average shares outstanding (Diluted)	2,671.0				2,697.0
Effective tax rate	9.8		%		18.4		%
Adjusted earnings before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income	$	12,581		32.2	$	15,481		38.1	(18.7)
Net earnings	$	10,600		27.2	$	12,611		31.1	(15.9)
Net earnings per share (Diluted)	$	3.97			$	4.68			(15.2)
Effective tax rate	15.7		%		18.5		%
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate 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 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 before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate 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, 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
		Second Quarter
	(Dollars in Millions Except Per Share Data)	2020	2019
	Net Earnings, after-tax as reported	$3,626	$5,607
	Pre-tax Adjustments
	Intangible Asset Amortization expense	1,127	1,118
	Litigation expense, net	613	409
	IPR&D	6	—
	Restructuring related	115	142
	Acquisition and Integration related	29	55
	Unrealized (gains)/losses on securities	(533)	(148)
	Medical Device Regulation 1	37	—
	Other	3	(3)
	Tax Adjustments
	Tax impact on special item adjustments 2	(253)	(230)
	Tax legislation and related impacts	(324)	—
	Adjusted Net Earnings, after-tax	$4,446	$6,950
	Average shares outstanding (Diluted)	2,665.5	2,691.7
	Adjusted net earnings per share (Diluted)	$1.67	$2.58
	Operational adjusted net earnings per share (Diluted)	$1.69
	Notes:
	1 European 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 are 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 Medical Devices operating segments' measures of profit and loss used for making operating decisions and assessing performance.
	2 The 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
		Six Months Ended
	(Dollars in Millions Except Per Share Data)	2020	2019
	Net Earnings, after-tax as reported	$9,422	$9,356
	Pre-tax Adjustments
	Intangible Asset Amortization expense	2,245	2,248
	Litigation expense, net	733	832
	IPR&D	6	890
	Restructuring related	233	232
	Acquisition and Integration related ¹	(933)	122
	Unrealized (gains)/losses on securities	(206)	(306)
	Medical Device Regulation 2	51	-
	Other	3	-
	Tax Adjustments
	Tax impact on special item adjustments 3	(520)	(763)
	Tax legislation and related impacts	(434)	-
	Adjusted Net Earnings, after-tax	$10,600	$12,611
	Average shares outstanding (Diluted)	2,671.0	2,697.0
	Adjusted net earnings per share (Diluted)	$3.97	$4.68
	Operational adjusted net earnings per share (Diluted)	$4.01
	Notes:
	1 Acquisition and integration related costs for the six months of 2020 primarily includes a $983M Contingent Consideration reversal related to the timing of certain developmental milestones associated with the Auris Health acquisition.
	2 European 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 are 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 Medical Devices operating segments' measures of profit and loss used for making operating decisions and assessing performance.
	3 The 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 Measure
Adjusted Operational Sales Growth (A)
SECOND QUARTER 2020 ACTUAL vs. 2019 ACTUAL
Segments
	Consumer Health		Pharmaceutical		Medical Devices		Total
WW As Reported	(7.0)	%	2.1	%	(33.9)	%	(10.8)	%
U.S.	1.3	%	5.8	%	(39.6)	%	(8.3)	%
International	(13.4)	%	(2.4)	%	(28.8)	%	(13.4)	%
WW Currency	(3.4)		(1.8)		(1.2)		(1.8)
U.S.	—		—		—		—
International	(6.0)		(3.8)		(2.4)		(3.8)
WW Operational	(3.6)	%	3.9	%	(32.7)	%	(9.0)	%
U.S.	1.3	%	5.8	%	(39.6)	%	(8.3)	%
International	(7.4)	%	1.4	%	(26.4)	%	(9.6)	%
General Surgery
Advanced Sterilization Products					0.1		0.1
U.S.					0.0		0.0
International					0.3		0.2
Baby Care
Baby Center	0.3						0.0
U.S.	0.7						0.1
International	0.0						0.0
All Other Acquisitions and Divestitures	0.0		0.0		0.1		0.1
U.S.	0.0		0.0		0.1		0.0
International	(0.1)		0.1		0.0		0.0
WW Adjusted Operational	(3.4)	%	3.9	%	(32.5)	%	(8.8)	%
U.S.	2.0	%	5.8	%	(39.5)	%	(8.1)	%
International	(7.5)	%	1.5	%	(26.1)	%	(9.4)	%
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 Measure
Adjusted Operational Sales Growth (A)
SIX MONTHS 2020 ACTUAL vs. 2019 ACTUAL
Segments
	Consumer Health		Pharmaceutical		Medical Devices		Total
WW As Reported	0.9	%	5.4	%	(21.1)	%	(3.8)	%
U.S.	10.8	%	7.2	%	(23.1)	%	(1.4)	%
International	(6.8)	%	3.2	%	(19.2)	%	(6.3)	%
WW Currency	(2.7)		(1.6)		(1.3)		(1.6)
U.S.	—		—		—		—
International	(4.9)		(3.5)		(2.4)		(3.4)
WW Operational	3.6	%	7.0	%	(19.8)	%	(2.2)	%
U.S.	10.8	%	7.2	%	(23.1)	%	(1.4)	%
International	(1.9)	%	6.7	%	(16.8)	%	(2.9)	%
Skin Health / Beauty
Dr. Ci Labo - Japan	(0.2)						0.0
U.S.	0.0						0.0
International	(0.4)						(0.1)
General Surgery
Advanced Sterilization Products					1.0		0.4
U.S.					1.1		0.4
International					0.9		0.4
Baby Care
Baby Center	0.3						0.0
U.S.	0.7						0.1
International	0.0						0.0
All Other Acquisitions and Divestitures	(0.1)		0.1		0.0		0.0
U.S.	0.0		0.1		0.0		0.1
International	(0.2)		0.0		0.0		0.0
WW Adjusted Operational	3.6	%	7.0	%	(18.8)	%	(1.7)	%
U.S.	11.5	%	7.2	%	(22.0)	%	(0.8)	%
International	(2.5)	%	6.7	%	(15.9)	%	(2.6)	%
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)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
CONSUMER HEALTH SEGMENT (2) (3)
BABY CARE
US	$	96	99	(3.5)	%	(3.5)	%	—	%
Intl		260	344	(24.3)		(16.6)		(7.7)
WW		356	443	(19.7)		(13.6)		(6.1)
ORAL CARE
US		170	155	9.7		9.7		—
Intl		227	234	(2.8)		4.0		(6.8)
WW		397	389	2.2		6.3		(4.1)
OTC
US		627	484	29.6		29.6		—
Intl		522	580	(10.1)		(5.0)		(5.1)
WW		1,149	1,064	7.9		10.7		(2.8)
SKIN HEALTH / BEAUTY (4)
US		536	663	(19.2)		(19.2)		—
Intl		471	539	(12.5)		(8.2)		(4.3)
WW		1,007	1,202	(16.2)		(14.3)		(1.9)
WOMEN'S HEALTH
US		3	3	(2.9)		(2.9)		—
Intl		199	250	(20.4)		(12.0)		(8.4)
WW		202	253	(20.1)		(11.8)		(8.3)
WOUND CARE / OTHER
US		126	132	(4.7)		(4.7)		—
Intl		59	61	(2.4)		3.7		(6.1)
WW		185	193	(4.0)		(2.1)		(1.9)
TOTAL CONSUMER HEALTH
US		1,557	1,537	1.3		1.3		—
Intl		1,739	2,007	(13.4)		(7.4)		(6.0)
WW	$	3,296	3,544	(7.0)	%	(3.6)	%	(3.4)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5)
IMMUNOLOGY
US	$	2,362	2,379	(0.7)	%	(0.7)	%	—	%
Intl		1,161	1,087	6.8		11.0		(4.2)
WW		3,523	3,466	1.6		3.0		(1.4)
REMICADE
US		593	801	(25.8)		(25.8)		—
US Exports (6)		133	62	*		*		—
Intl		208	244	(14.5)		(8.7)		(5.8)
WW		935	1,107	(15.5)		(14.2)		(1.3)
SIMPONI / SIMPONI ARIA
US		256	281	(8.7)		(8.7)		—
Intl		289	282	2.6		6.8		(4.2)
WW		546	563	(3.0)		(0.9)		(2.1)
STELARA
US		1,138	1,058	7.5		7.5		—
Intl		558	499	11.9		15.5		(3.6)
WW		1,697	1,558	8.9		10.1		(1.2)
TREMFYA
US		241	176	36.7		36.7		—
Intl		101	59	71.0		73.4		(2.4)
WW		342	235	45.4		46.0		(0.6)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		3	3	11.8		21.6		(9.8)
WW		3	3	11.8		21.6		(9.8)
INFECTIOUS DISEASES
US		416	387	7.4		7.4		—
Intl		463	475	(2.5)		2.6		(5.1)
WW		878	862	1.9		4.7		(2.8)
EDURANT / rilpivirine
US		10	12	(14.0)		(14.0)		—
Intl		246	198	24.5		27.7		(3.2)
WW		256	210	22.2		25.2		(3.0)
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		379	344	10.5		10.5		—
Intl		130	191	(32.0)		(26.1)		(5.9)
WW		510	535	(4.7)		(2.6)		(2.1)
OTHER INFECTIOUS DISEASES
US		25	31	(18.7)		(18.7)		—
Intl		87	86	1.0		8.7		(7.7)
WW		113	117	(4.2)		1.5		(5.7)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5) (Continued)
NEUROSCIENCE
US	$	778	664	17.4	%	17.4	%	—	%
Intl		809	875	(7.6)		(4.1)		(3.5)
WW		1,587	1,538	3.2		5.2		(2.0)
CONCERTA / methylphenidate
US		55	15	*		*		—
Intl		94	123	(23.0)		(20.2)		(2.8)
WW		149	137	8.7		11.2		(2.5)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		576	506	13.8		13.8		—
Intl		303	312	(2.8)		0.3		(3.1)
WW		879	818	7.5		8.6		(1.1)
RISPERDAL CONSTA
US		74	81	(9.3)		(9.3)		—
Intl		79	101	(21.2)		(18.1)		(3.1)
WW		153	182	(15.9)		(14.2)		(1.7)
OTHER NEUROSCIENCE
US		75	62	21.5		21.5		—
Intl		331	340	(2.5)		1.7		(4.2)
WW		406	401	1.2		4.7		(3.5)
ONCOLOGY
US		1,181	1,013	16.6		16.6		—
Intl		1,609	1,684	(4.4)		(0.9)		(3.5)
WW		2,791	2,697	3.5		5.7		(2.2)
DARZALEX
US		492	369	32.9		32.9		—
Intl		409	405	1.2		5.9		(4.7)
WW		901	774	16.3		18.8		(2.5)
ERLEADA
US		136	62	*		*		—
Intl		33	7	*		*		*
WW		170	69	*		*		*
IMBRUVICA
US		447	367	21.5		21.5		—
Intl		502	463	8.3		13.4		(5.1)
WW		949	831	14.1		17.0		(2.9)
VELCADE
US		—	—	—		—		—
Intl		98	224	(56.1)		(55.2)		(0.9)
WW		98	224	(56.1)		(55.2)		(0.9)
ZYTIGA / abiraterone acetate
US		87	198	(55.6)		(55.6)		—
Intl		480	500	(3.9)		(2.0)		(1.9)
WW		568	698	(18.6)		(17.2)		(1.4)
OTHER ONCOLOGY
US		20	16	22.9		22.9		—
Intl		87	85	2.2		5.9		(3.7)
WW		106	101	5.5		8.6		(3.1)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5) (Continued)
PULMONARY HYPERTENSION
US	$	545	439	24.2	%	24.2	%	—	%
Intl		243	251	(3.3)		(1.0)		(2.3)
WW		789	690	14.2		15.0		(0.8)
OPSUMIT
US		256	203	26.1		26.1		—
Intl		150	146	3.0		5.7		(2.7)
WW		406	348	16.5		17.6		(1.1)
UPTRAVI
US		254	175	44.5		44.5		—
Intl		28	28	4.0		7.3		(3.3)
WW		282	203	39.0		39.5		(0.5)
OTHER PULMONARY HYPERTENSION
US		37	61	(40.2)		(40.2)		—
Intl		64	78	(17.6)		(16.4)		(1.2)
WW		101	140	(27.5)		(26.9)		(0.6)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5) Continued)
CARDIOVASCULAR / METABOLISM / OTHER
US	$	837	902	(7.2)	%	(7.2)	%	—	%
Intl		347	373	(7.0)		(2.4)		(4.6)
WW		1,184	1,275	(7.1)		(5.8)		(1.3)
XARELTO
US		559	549	1.7		1.7		—
Intl		—	—	—		—		—
WW		559	549	1.7		1.7		—
INVOKANA / INVOKAMET
US		132	132	(0.8)		(0.8)		—
Intl		47	43	9.1		14.8		(5.7)
WW		179	177	1.6		3.1		(1.5)
PROCRIT / EPREX
US		70	113	(38.3)		(38.3)		—
Intl		66	70	(5.0)		(2.3)		(2.7)
WW		136	183	(25.6)		(24.6)		(1.0)
OTHER
US		78	107	(27.7)		(27.7)		—
Intl		234	260	(10.2)		(5.3)		(4.9)
WW		312	368	(15.3)		(11.8)		(3.5)
TOTAL PHARMACEUTICAL
US		6,120	5,783	5.8		5.8		—
Intl		4,632	4,746	(2.4)		1.4		(3.8)
WW	$	10,752	10,529	2.1	%	3.9	%	(1.8)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2) (5)
INTERVENTIONAL SOLUTIONS
US	$	255	366	(30.5)	%	(30.5)	%	—	%
Intl		335	385	(12.8)		(10.9)		(1.9)
WW		590	750	(21.5)		(20.5)		(1.0)
ORTHOPAEDICS
US		869	1,331	(34.7)		(34.7)		—
Intl		583	894	(34.8)		(32.6)		(2.2)
WW		1,451	2,224	(34.7)		(33.9)		(0.8)
HIPS
US		137	216	(36.5)		(36.5)		—
Intl		88	147	(39.8)		(37.3)		(2.5)
WW		226	364	(37.8)		(36.8)		(1.0)
KNEES
US		108	218	(50.5)		(50.5)		—
Intl		66	153	(56.8)		(55.3)		(1.5)
WW		174	372	(53.1)		(52.5)		(0.6)
TRAUMA
US		354	407	(12.9)		(12.9)		—
Intl		198	265	(25.2)		(22.6)		(2.6)
WW		553	672	(17.8)		(16.7)		(1.1)
SPINE, SPORTS & OTHER(7)
US		270	490	(45.0)		(45.0)		—
Intl		230	328	(29.9)		(27.9)		(2.0)
WW		499	818	(39.0)		(38.2)		(0.8)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SECOND QUARTER
				% Change
		2020	2019	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2) (5) (Continued)
SURGERY
US	$	490	926	(47.0)	%	(47.0)	%	—	%
Intl		1,060	1,427	(25.7)		(22.6)		(3.1)
WW		1,551	2,353	(34.1)		(32.2)		(1.9)
ADVANCED
US		277	396	(30.0)		(30.0)		—
Intl		498	633	(21.2)		(18.4)		(2.8)
WW		775	1,029	(24.6)		(22.9)		(1.7)
GENERAL
US		213	530	(59.8)		(59.8)		—
Intl		562	794	(29.2)		(26.0)		(3.2)
WW		775	1,325	(41.5)		(39.5)		(2.0)
VISION
US		248	461	(46.1)		(46.1)		—
Intl		447	701	(36.1)		(34.8)		(1.3)
WW		695	1,161	(40.1)		(39.3)		(0.8)
CONTACT LENSES / OTHER
US		203	333	(39.0)		(39.0)		—
Intl		352	509	(30.9)		(29.6)		(1.3)
WW		554	842	(34.1)		(33.3)		(0.8)
SURGICAL
US		45	128	(64.6)		(64.6)		—
Intl		96	191	(49.9)		(48.8)		(1.1)
WW		141	319	(55.8)		(55.2)		(0.6)
TOTAL MEDICAL DEVICES
US		1,862	3,083	(39.6)		(39.6)		—
Intl		2,426	3,406	(28.8)		(26.4)		(2.4)
WW	$	4,288	6,489	(33.9)	%	(32.7)	%	(1.2)	%

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
CONSUMER HEALTH SEGMENT (2) (3)
BABY CARE
US	$	188	186	1.2	%	1.2	%	—%
Intl		529	651	(18.7)		(12.6)		(6.1)
WW		717	837	(14.3)		(9.5)		(4.8)
ORAL CARE
US		346	306	12.9		12.9		—
Intl		446	450	(0.8)		4.6		(5.4)
WW		792	756	4.8		8.0		(3.2)
OTC
US		1,316	991	32.8		32.8		—
Intl		1,181	1,160	1.8		6.0		(4.2)
WW		2,497	2,151	16.1		18.3		(2.2)
SKIN HEALTH / BEAUTY (4)
US		1,195	1,251	(4.5)		(4.5)		—
Intl		929	1,041	(10.7)		(7.4)		(3.3)
WW		2,124	2,292	(7.3)		(5.8)		(1.5)
WOMEN'S HEALTH
US		7	6	14.3		14.3		—
Intl		427	472	(9.6)		(2.1)		(7.5)
WW		434	478	(9.3)		(1.9)		(7.4)
WOUND CARE / OTHER
US		245	234	4.7		4.7		—
Intl		111	114	(1.9)		2.8		(4.7)
WW		356	348	2.6		4.1		(1.5)
TOTAL CONSUMER HEALTH
US		3,297	2,975	10.8		10.8		—
Intl		3,624	3,887	(6.8)		(1.9)		(4.9)
WW	$	6,921	6,862	0.9	%	3.6	%	(2.7)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5)
IMMUNOLOGY
US	$	4,772	4,542	5.1	%	5.1	%	—%
Intl		2,389	2,175	9.8		13.7		(3.9)
WW		7,161	6,717	6.6		7.9		(1.3)
REMICADE
US		1,218	1,575	(22.7)		(22.7)		—
US Exports (6)		243	138	75.7		75.7		—
Intl		464	496	(6.4)		(1.6)		(4.8)
WW		1,925	2,209	(12.9)		(11.8)		(1.1)
SIMPONI / SIMPONI ARIA
US		528	544	(2.9)		(2.9)		—
Intl		547	543	0.8		4.8		(4.0)
WW		1,075	1,087	(1.1)		1.0		(2.1)
STELARA
US		2,355	1,940	21.4		21.4		—
Intl		1,161	1,022	13.6		16.9		(3.3)
WW		3,516	2,963	18.7		19.8		(1.1)
TREMFYA
US		428	344	24.4		24.4		—
Intl		210	108	94.0		97.1		(3.1)
WW		638	452	41.1		41.8		(0.7)
OTHER IMMUNOLOGY
US		—	—	—		—		—
Intl		6	6	2.7		8.4		(5.7)
WW		6	6	2.7		8.4		(5.7)
INFECTIOUS DISEASES
US		852	744	14.5		14.5		—
Intl		946	964	(1.8)		2.7		(4.5)
WW		1,798	1,708	5.3		7.8		(2.5)
EDURANT / rilpivirine
US		22	24	(6.9)		(6.9)		—
Intl		458	397	15.4		18.4		(3.0)
WW		480	421	14.1		17.0		(2.9)
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		775	659	17.7		17.7		—
Intl		314	399	(21.4)		(15.8)		(5.6)
WW		1,089	1,058	2.9		5.0		(2.1)
OTHER INFECTIOUS DISEASES
US		54	61	(11.2)		(11.2)		—
Intl		174	168	3.8		9.4		(5.6)
WW		229	229	(0.2)		3.9		(4.1)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5) (Continued)
NEUROSCIENCE
US	$	1,526	1,387	10.1	%	10.1	%	—%
Intl		1,719	1,780	(3.5)		(0.5)		(3.0)
WW		3,245	3,167	2.5		4.1		(1.6)
CONCERTA / methylphenidate
US		107	112	(4.2)		(4.2)		—
Intl		212	239	(11.0)		(8.6)		(2.4)
WW		320	351	(8.9)		(7.2)		(1.7)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		1,120	989	13.2		13.2		—
Intl		642	619	3.7		6.7		(3.0)
WW		1,762	1,608	9.5		10.7		(1.2)
RISPERDAL CONSTA
US		150	158	(4.9)		(4.9)		—
Intl		173	203	(14.9)		(11.9)		(3.0)
WW		323	361	(10.5)		(8.9)		(1.6)
OTHER NEUROSCIENCE
US		150	128	16.8		16.8		—
Intl		691	719	(3.9)		(0.8)		(3.1)
WW		841	847	(0.7)		1.8		(2.5)
ONCOLOGY
US		2,356	1,975	19.3		19.3		—
Intl		3,448	3,240	6.4		9.9		(3.5)
WW		5,804	5,215	11.3		13.5		(2.2)
DARZALEX
US		955	721	32.3		32.3		—
Intl		883	682	29.6		34.7		(5.1)
WW		1,838	1,403	31.0		33.5		(2.5)
ERLEADA
US		255	120	*		*		—
Intl		57	10	*		*		*
WW		313	130	*		*		*
IMBRUVICA
US		879	716	22.6		22.6		—
Intl		1,101	898	22.6		27.4		(4.8)
WW		1,980	1,615	22.6		25.3		(2.7)
VELCADE
US		—	—	—		—		—
Intl		206	487	(57.7)		(56.9)		(0.8)
WW		206	487	(57.7)		(56.9)		(0.8)
ZYTIGA / abiraterone acetate
US		226	383	(40.9)		(40.9)		—
Intl		1,032	994	3.8		6.1		(2.3)
WW		1,258	1,377	(8.6)		(7.0)		(1.6)
OTHER ONCOLOGY
US		42	34	21.4		21.4		—
Intl		169	169	(0.3)		3.3		(3.6)
WW		210	203	3.4		6.3		(2.9)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5) (Continued)
PULMONARY HYPERTENSION
US	$	1,031	869	18.7	%	18.7	%	—%
Intl		503	477	5.3		7.9		(2.6)
WW		1,534	1,346	13.9		14.9		(1.0)
OPSUMIT
US		485	375	29.3		29.3		—
Intl		310	279	11.2		14.1		(2.9)
WW		795	654	21.6		22.8		(1.2)
UPTRAVI
US		466	351	32.6		32.6		—
Intl		66	50	33.6		37.6		(4.0)
WW		532	401	32.7		33.2		(0.5)
OTHER PULMONARY HYPERTENSION
US		81	143	(43.5)		(43.5)		—
Intl		126	149	(15.1)		(13.7)		(1.4)
WW		207	292	(29.0)		(28.3)		(0.7)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
PHARMACEUTICAL SEGMENT (2) (5) (Continued)
CARDIOVASCULAR / METABOLISM / OTHER
US	$	1,643	1,849	(11.1)	%	(11.1)	%	—%
Intl		701	771	(9.1)		(5.6)		(3.5)
WW		2,344	2,620	(10.5)		(9.5)		(1.0)
XARELTO
US		1,086	1,091	(0.5)		(0.5)		—
Intl		—	—	—		—		—
WW		1,086	1,091	(0.5)		(0.5)		—
INVOKANA / INVOKAMET
US		249	286	(13.0)		(13.0)		—
Intl		105	92	14.1		18.1		(4.0)
WW		354	379	(6.4)		(5.5)		(0.9)
PROCRIT / EPREX
US		146	261	(44.1)		(44.1)		—
Intl		145	148	(2.2)		(0.1)		(2.1)
WW		291	409	(28.9)		(28.2)		(0.7)
OTHER
US		163	211	(22.9)		(22.9)		—
Intl		451	531	(15.0)		(11.3)		(3.7)
WW		614	742	(17.3)		(14.6)		(2.7)
TOTAL PHARMACEUTICAL
US		12,181	11,365	7.2		7.2		—
Intl		9,705	9,408	3.2		6.7		(3.5)
WW	$	21,886	20,773	5.4	%	7.0	%	(1.6)	%
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2) (5)
INTERVENTIONAL SOLUTIONS
US	$	620	709	(12.6)	%	(12.6)	%	—%
Intl		697	774	(9.9)		(8.0)		(1.9)
WW		1,317	1,482	(11.2)		(10.2)		(1.0)
ORTHOPAEDICS
US		2,119	2,649	(20.0)		(20.0)		—
Intl		1,371	1,779	(22.9)		(20.6)		(2.3)
WW		3,489	4,428	(21.2)		(20.3)		(0.9)
HIPS
US		343	429	(20.1)		(20.1)		—
Intl		220	295	(25.4)		(22.8)		(2.6)
WW		563	725	(22.3)		(21.2)		(1.1)
KNEES
US		322	441	(27.1)		(27.1)		—
Intl		196	299	(34.6)		(32.7)		(1.9)
WW		517	741	(30.1)		(29.3)		(0.8)
TRAUMA
US		761	824	(7.6)		(7.6)		—
Intl		445	533	(16.5)		(13.9)		(2.6)
WW		1,207	1,357	(11.1)		(10.0)		(1.1)
SPINE, SPORTS & OTHER(7)
US		693	955	(27.4)		(27.4)		—
Intl		510	651	(21.7)		(19.6)		(2.1)
WW		1,202	1,606	(25.1)		(24.3)		(0.8)
See footnotes at end of schedule

Johnson & Johnson
Segment Sales
(Dollars in Millions)
		SIX MONTHS
				% Change
		2020	2019	Reported		Operational (1)		Currency
MEDICAL DEVICES SEGMENT (2) (5) (Continued)
SURGERY
US	$	1,334	1,927	(30.8)	%	(30.8)	%	—%
Intl		2,317	2,821	(17.9)		(14.8)		(3.1)
WW		3,651	4,748	(23.1)		(21.3)		(1.8)
ADVANCED
US		658	800	(17.7)		(17.7)		—
Intl		1,065	1,209	(11.9)		(8.9)		(3.0)
WW		1,723	2,009	(14.2)		(12.4)		(1.8)
GENERAL
US		676	1,127	(40.0)		(40.0)		—
Intl		1,252	1,612	(22.4)		(19.2)		(3.2)
WW		1,928	2,739	(29.6)		(27.8)		(1.8)
VISION
US		687	907	(24.2)		(24.2)		—
Intl		1,075	1,383	(22.3)		(20.8)		(1.5)
WW		1,762	2,290	(23.0)		(22.2)		(0.8)
CONTACT LENSES / OTHER
US		549	654	(16.1)		(16.1)		—
Intl		819	1,011	(19.0)		(17.6)		(1.4)
WW		1,368	1,666	(17.9)		(17.0)		(0.9)
SURGICAL
US		138	253	(45.3)		(45.3)		—
Intl		256	371	(31.0)		(29.6)		(1.4)
WW		394	624	(36.8)		(36.0)		(0.8)
TOTAL MEDICAL DEVICES
US		4,760	6,192	(23.1)		(23.1)		—
Intl		5,460	6,756	(19.2)		(16.8)		(2.4)
WW	$	10,220	12,948	(21.1)	%	(19.8)	%	(1.3)	%
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) Previously referred to as Consumer
(4) Previously referred to as Beauty
(5) Certain prior year amounts have been reclassified to conform to current year product disclosures
(6) Reported as U.S. sales
(7) Previously referred to as Spine & Other