Johnson & Johnson 8K Reports Q4 and Full-Year 2023 Results | JNJ 23 Jan 24

Exhibit 99.2


Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	FOURTH QUARTER
				Percent Change
	2023		2022	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$	12,009	10,820	11.0	%	11.0	—

Europe	4,962		5,124	(3.2)		(5.8)	2.6
Western Hemisphere excluding U.S.	1,166		1,024	14.0		18.1	(4.1)
Asia-Pacific, Africa	3,258		2,971	9.7		12.1	(2.4)
International	9,386		9,119	2.9		2.7	0.2

Worldwide	$	21,395	19,939	7.3	%	7.2	0.1


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)	TWELVE MONTHS
				Percent Change
	2023		2022	Total		Operations	Currency
Sales to customers by
geographic area

U.S.	$	46,444	41,981	10.6	%	10.6	—

Europe	20,410		20,664	(1.2)		(2.2)	1.0
Western Hemisphere excluding U.S.	4,549		4,108	10.7		15.8	(5.1)
Asia-Pacific, Africa	13,756		13,237	3.9		9.5	(5.6)
International	38,715		38,009	1.9		3.8	(1.9)

Worldwide	$	85,159	79,990	6.5	%	7.4	(0.9)


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)	FOURTH QUARTER
				Percent Change
	2023		2022	Total		Operations	Currency
Sales to customers by
segment of business

Innovative Medicine (1,2)
U.S.	$	8,079	7,375	9.5	%	9.5	—
International	5,643		5,788	(2.5)		(3.1)	0.6
	13,722		13,163	4.2		4.0	0.2

Innovative Medicine excluding COVID-19 Vaccine (1,2)
U.S.	8,079		7,375	9.5		9.5	—
International	5,599		5,099	9.8		9.4	0.4
	13,678		12,474	9.7		9.5	0.2

MedTech
U.S.	3,930		3,445	14.1		14.1	—
International	3,743		3,331	12.4		12.8	(0.4)
	7,673		6,776	13.3		13.4	(0.1)

U.S.	12,009		10,820	11.0		11.0	—
International	9,386		9,119	2.9		2.7	0.2
Worldwide	21,395		19,939	7.3		7.2	0.1

U.S.	12,009		10,820	11.0		11.0	—
International	9,342		8,430	10.8		10.7	0.1
Worldwide excluding COVID-19 Vaccine (1)	$	21,351	19,250	10.9	%	10.9	0.0

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales reconciliation schedule.
(2) Previously referred to as Pharmaceutical.



Johnson & Johnson and Subsidiaries
Supplementary Sales Data

(Unaudited; Dollars in Millions)	TWELVE MONTHS
				Percent Change
	2023		2022	Total		Operations	Currency
Sales to customers by
segment of business

Innovative Medicine (1,2)
U.S.	$	31,169	28,604	9.0	%	9.0	—
International	23,590		23,959	(1.5)		(0.2)	(1.3)
	54,759		52,563	4.2		4.8	(0.6)

Innovative Medicine excluding COVID-19 Vaccine (1,2)
U.S.	31,169		28,484	9.4		9.4	—
International	22,473		21,900	2.6		4.3	(1.7)
	53,642		50,384	6.5		7.2	(0.7)

MedTech
U.S.	15,275		13,377	14.2		14.2	—
International	15,125		14,050	7.7		10.6	(2.9)
	30,400		27,427	10.8		12.4	(1.6)

U.S.	46,444		41,981	10.6		10.6	—
International	38,715		38,009	1.9		3.8	(1.9)
Worldwide	85,159		79,990	6.5		7.4	(0.9)

U.S.	46,444		41,861	10.9		10.9	—
International	37,598		35,950	4.6		6.7	(2.1)
Worldwide excluding COVID-19 Vaccine (1)	$	84,042	77,811	8.0	%	9.0	(1.0)

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
(1) Refer to supplemental sales reconciliation schedule.
(2) Previously referred to as Pharmaceutical.


Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)	FOURTH QUARTER

	2023				2022				Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	21,395		100.0	$	19,939		100.0	7.3
Cost of products sold	6,798			31.8	6,084			30.5	11.7
Gross Profit	14,597			68.2	13,855			69.5	5.4
Selling, marketing and administrative expenses	5,810			27.1	5,339			26.8	8.8
Research and development expense	4,480			20.9	3,710			18.6	20.8
In-process research and development impairments	58			0.3	173			0.8
Interest (income) expense, net	(212)			(1.0)	(77)			(0.4)
Other (income) expense, net	(421)			(2.0)	795			4.0
Restructuring	56			0.3	75			0.4
Earnings before provision for taxes on income	4,826			22.6	3,840			19.3	25.7
Provision for taxes on income	694			3.3	613			3.1	13.2
Net earnings from Continuing Operations	$	4,132		19.3	$	3,227		16.2	28.0
Net earnings/(loss) from Discontinued Operations, net of tax	(83)				293
Net earnings	$	4,049			$	3,520

Net earnings per share (Diluted) from Continuing Operations	$	1.70			$	1.22			39.3
Net earnings/(loss) per share (Basic/Diluted) from Discontinued Operations*	$	(0.03)			$	0.11

Average shares outstanding (Diluted)	2,430.7				2,650.1

Effective tax rate from Continuing Operations	14.4		%		16.0		%

Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations	$	6,237		29.2	$	6,482		32.5	(3.8)
Net earnings from Continuing Operations	$	5,562		26.0	$	5,432		27.2	2.4
Net earnings per share (Diluted) from Continuing Operations	$	2.29			$	2.05			11.7
Effective tax rate from Continuing Operations	10.8		%		16.2		%

* Basic shares of 2,407.2 are used to calculate loss per share in the fourth quarter of 2023 as use of diluted shares when in a loss position would be anti-dilutive.
(1) See Reconciliation of Non-GAAP Financial Measures.

(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 gains from divestitures, 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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, significant gains from divestitures, 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)	TWELVE MONTHS

	2023				2022				Percent
				Percent				Percent	Increase
	Amount			to Sales	Amount			to Sales	(Decrease)
Sales to customers	$	85,159		100.0	$	79,990		100.0	6.5
Cost of products sold	26,553			31.2	24,596			30.7	8.0
Gross Profit	58,606			68.8	55,394			69.3	5.8
Selling, marketing and administrative expenses	21,512			25.2	20,246			25.3	6.3
Research and development expense	15,085			17.7	14,135			17.7	6.7
In-process research and development impairments	313			0.4	783			1.0
Interest (income) expense, net	(489)			(0.6)	(214)			(0.3)
Other (income) expense, net	6,634			7.8	810			1.0
Restructuring	489			0.6	275			0.4
Earnings before provision for taxes on income	15,062			17.7	19,359			24.2	(22.2)
Provision for taxes on income	1,736			2.1	2,989			3.7	(41.9)
Net earnings from Continuing Operations	$	13,326		15.6	$	16,370		20.5	(18.6)
Net earnings from Discontinued Operations, net of tax	21,827				1,571
Net earnings	$	35,153			$	17,941

Net earnings per share (Diluted) from Continuing Operations	$	5.20			$	6.14			(15.3)
Net earnings per share (Diluted) from Discontinued Operations	$	8.52			$	0.59

Average shares outstanding (Diluted)	2,560.4				2,663.9

Effective tax rate from Continuing Operations	11.5		%		15.4		%

Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) (A)
Earnings before provision for taxes on income from Continuing Operations	$	29,811		35.0	$	27,973		35.0	6.6
Net earnings from Continuing Operations	$	25,409		29.8	$	23,796		29.7	6.8
Net earnings per share (Diluted) from Continuing Operations	$	9.92			$	8.93			11.1
Effective tax rate from Continuing Operations	14.8		%		14.9		%

(1) See Reconciliation of Non-GAAP Financial Measures.

(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings from continuing operations before provision for taxes on income," "adjusted net earnings from continuing operations," "adjusted net earnings per share (diluted) from continuing operations," and "adjusted effective tax rate from continuing operations" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations 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 gains from divestitures, 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 from continuing operations before provision for taxes on income, net earnings from continuing operations, net earnings per share (diluted) from continuing operations, and effective tax rate from continuing operations prepared in accordance with GAAP, adjusted earnings from continuing operations before provision for taxes on income, adjusted net earnings from continuing operations, adjusted net earnings per share (diluted) from continuing operations, and adjusted effective tax rate from continuing operations 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, significant gains from divestitures, 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

		Fourth Quarter
	(Dollars in Millions Except Per Share Data)	2023		2022
	Net Earnings from Continuing Operations, after tax- as reported	$	4,132	$	3,227

	Pre-tax Adjustments
	Litigation related	166		262
	Intangible Asset Amortization expense	1,148		977
	COVID-19 Vaccine related costs 1	10		821
	Restructuring related 2	139		119
	Medical Device Regulation 3	88		88
	Acquisition, integration and divestiture related	237		196
	(Gains)/losses on securities	(435)		6
	IPR&D impairments	58		173

	Tax Adjustments
	Tax impact on special item adjustments 4	75		(394)
	Tax legislation and other tax related	(56)		(43)
	Adjusted Net Earnings from Continuing Operations, after tax	$	5,562	$	5,432
	Average shares outstanding (Diluted)	2,430.7		2,650.1
	Adjusted net earnings per share from Continuing Operations (Diluted)	$	2.29	$	2.05
	Operational adjusted net earnings per share from Continuing Operations (Diluted)	$	2.28

	Notes:
1	COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2	In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of $55 million in the quarter ($479 million Q4 YTD) include the termination of partnered and non-partnered program costs and asset impairments. In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $84 million in the quarter ($319 million Q4 YTD) primarily includes inventory and instrument reserves related to the market and product exits.
3	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 were 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 MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
4	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

		Twelve Months Ended
	(Dollars in Millions Except Per Share Data)	2023		2022
	Net Earnings from Continuing Operations, after tax- as reported	$	13,326	$	16,370

	Pre-tax Adjustments
	Litigation related	7,152		866
	Intangible Asset Amortization expense	4,532		3,944
	COVID-19 Vaccine related costs 1	663		1,474
	Restructuring related 2	798		372
	Medical Device Regulation 3	311		296
	Acquisition, integration and divestiture related	339		196
	(Gains)/losses on securities	641		690
	IPR&D impairments	313		783
	Other	-		(7)

	Tax Adjustments
	Tax impact on special item adjustments 4	(2,694)		(1,294)
	Tax legislation and other tax related	28		106
	Adjusted Net Earnings from Continuing Operations, after tax	$	25,409	$	23,796
	Average shares outstanding (Diluted)	2,560.4		2,663.9
	Adjusted net earnings per share from Continuing Operations (Diluted)	$	9.92	$	8.93
	Operational adjusted net earnings per share from Continuing Operations (Diluted)	$	9.89

	Notes:
1	COVID-19 Vaccine related costs include remaining commitments and obligations, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company's completion of its COVID-19 vaccine contractual commitments.
2	In fiscal 2023, the company completed a prioritization of its research and development (R&D) investment within the Innovative Medicine segment to focus on the most promising medicines with the greatest benefit to patients. This resulted in the exit of certain programs within therapeutic areas. The R&D program exits are primarily in infectious diseases and vaccines including the discontinuation of its respiratory syncytial virus (RSV) adult vaccine program, hepatitis and HIV development. The restructuring expenses of $55 million in the quarter ($479 million Q4 YTD) include the termination of partnered and non-partnered program costs and asset impairments. In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $84 million in the quarter ($319 million Q4 YTD) primarily includes inventory and instrument reserves related to the market and product exits.
3	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 were 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 MedTech operating segments' measures of profit and loss used for making operating decisions and assessing performance which is expected to be completed during 2024.
4	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)
FOURTH QUARTER 2023 ACTUAL vs. 2022 ACTUAL

Segments
	Innovative Medicine		MedTech		Total
WW As Reported	4.2	%	13.3	%	7.3	%
U.S.	9.5	%	14.1	%	11.0	%
International	(2.5)	%	12.4	%	2.9	%

WW Currency	0.2		(0.1)		0.1
U.S.	—		—		—
International	0.6		(0.4)		0.2

WW Operational	4.0	%	13.4	%	7.2	%
U.S.	9.5	%	14.1	%	11.0	%
International	(3.1)	%	12.8	%	2.7	%

Abiomed			(4.5)		(1.6)
U.S.			(7.2)		(2.3)
International			(1.9)		(0.7)

All Other Acquisitions and Divestitures	0.0		0.2		0.1
U.S.	0.0		0.3		0.1
International	0.1		0.1		0.1

WW Adjusted Operational	4.0	%	9.1	%	5.7	%
U.S.	9.5	%	7.2	%	8.8	%
International	(3.0)	%	11.0	%	2.1	%

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)
TWELVE MONTHS 2023 ACTUAL vs. 2022 ACTUAL

Segments
	Innovative Medicine		MedTech		Total
WW As Reported	4.2	%	10.8	%	6.5	%
U.S.	9.0	%	14.2	%	10.6	%
International	(1.5)	%	7.7	%	1.9	%

WW Currency	(0.6)		(1.6)		(0.9)
U.S.	—		—		—
International	(1.3)		(2.9)		(1.9)

WW Operational	4.8	%	12.4	%	7.4	%
U.S.	9.0	%	14.2	%	10.6	%
International	(0.2)	%	10.6	%	3.8	%

Abiomed			(4.7)		(1.6)
U.S.			(7.7)		(2.5)
International			(1.7)		(0.6)

All Other Acquisitions and Divestitures	0.1		0.1		0.1
U.S.	0.0		0.1		0.1
International	0.2		0.1		0.2

WW Adjusted Operational	4.9	%	7.8	%	5.9	%
U.S.	9.0	%	6.6	%	8.2	%
International	0.0	%	9.0	%	3.4	%

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
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)

IMMUNOLOGY
US	$	3,033	2,805	8.1	%	8.1	%	—	%
Intl		1,562	1,312	19.0		17.7		1.3
WW		4,595	4,118	11.6		11.2		0.4
REMICADE
US		294	318	(7.4)		(7.4)		—
US Exports (5)		35	41	(15.1)		(15.1)		—
Intl		100	116	(13.4)		(12.4)		(1.0)
WW		429	475	(9.6)		(9.4)		(0.2)
SIMPONI / SIMPONI ARIA
US		258	280	(7.8)		(7.8)		—
Intl		244	220	10.1		11.8		(1.7)
WW		502	501	0.1		0.8		(0.7)
STELARA
US		1,786	1,621	10.1		10.1		—
Intl		967	764	26.4		23.9		2.5
WW		2,753	2,386	15.3		14.5		0.8
TREMFYA
US		657	541	21.6		21.6		—
Intl		252	211	19.4		17.8		1.6
WW		910	752	21.0		20.5		0.5
OTHER IMMUNOLOGY
US		2	3	(22.8)		(22.8)		—
Intl		0	0	—		—		—
WW		2	3	(22.8)		(22.8)		—

INFECTIOUS DISEASES
US		353	414	(14.6)		(14.6)		—
Intl		498	1,127	(55.8)		(58.2)		2.4
WW		852	1,540	(44.7)		(46.5)		1.8
COVID-19 VACCINE
US		0	0	—		—		—
Intl		44	689	(93.7)		(95.2)		1.5
WW		44	689	(93.7)		(95.2)		1.5
EDURANT / rilpivirine
US		9	9	(12.4)		(12.4)		—
Intl		299	281	6.4		1.5		4.9
WW		307	290	5.8		1.0		4.8
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		341	398	(14.4)		(14.4)		—
Intl		98	95	3.1		(0.8)		3.9
WW		439	493	(11.0)		(11.8)		0.8
OTHER INFECTIOUS DISEASES
US		4	6	(30.4)		(30.4)		—
Intl		58	61	(5.6)		(4.9)		(0.7)
WW		62	67	(7.8)		(7.1)		(0.7)

See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2023	2022	Reported	Operational (1)	Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)

NEUROSCIENCE
US	$	1,022	912	12.1%	12.1%	—%
Intl		780	825	(5.5)	(2.0)	(3.5)
WW		1,801	1,737	3.7	5.4	(1.7)
CONCERTA / methylphenidate
US		39	37	5.7	5.7	—
Intl		142	131	7.9	9.2	(1.3)
WW		180	168	7.4	8.5	(1.1)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		733	678	8.0	8.0	—
Intl		278	329	(15.5)	(15.7)	0.2
WW		1,011	1,008	0.3	0.3	0.0
SPRAVATO
US		180	105	72.3	72.3	—
Intl		26	14	87.1	83.4	3.7
WW		206	119	74.1	73.6	0.5
OTHER NEUROSCIENCE
US		71	91	(23.0)	(23.0)	—
Intl		334	351	(5.0)	3.2	(8.2)
WW		404	442	(8.7)	(2.3)	(6.4)

ONCOLOGY
US		2,285	1,857	23.0	23.0	—
Intl		2,334	2,069	12.8	12.0	0.8
WW		4,618	3,927	17.6	17.2	0.4
CARVYKTI
US		145	54	*	*	—
Intl		13	—	*	*	—
WW		159	54	*	*	*
DARZALEX
US		1,395	1,139	22.5	22.5	—
Intl		1,155	944	22.3	21.8	0.5
WW		2,550	2,083	22.4	22.2	0.2
ERLEADA
US		287	275	4.4	4.4	—
Intl		361	266	35.6	34.0	1.6
WW		647	541	19.8	19.0	0.8
IMBRUVICA
US		255	318	(19.8)	(19.8)	—
Intl		533	547	(2.6)	(3.8)	1.2
WW		788	866	(8.9)	(9.7)	0.8
ZYTIGA / abiraterone acetate
US		9	20	(52.0)	(52.0)	—
Intl		191	250	(23.6)	(23.2)	(0.4)
WW		201	270	(25.6)	(25.3)	(0.3)
OTHER ONCOLOGY
US		192	52	*	*	—
Intl		82	63	32.2	28.4	3.8
WW		274	114	*	*	*


Johnson & Johnson
Segment Sales
(Dollars in Millions)


		FOURTH QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)

PULMONARY HYPERTENSION
US	$	733	610	20.2	%	20.2	%	—	%
Intl		282	261	8.6		10.9		(2.3)
WW		1,017	870	16.7		17.4		(0.7)
OPSUMIT
US		368	305	20.5		20.5		—
Intl		169	156	7.9		8.3		(0.4)
WW		536	461	16.2		16.3		(0.1)
UPTRAVI
US		348	280	24.3		24.3		—
Intl		70	56	26.4		31.4		(5.0)
WW		419	336	24.6		25.4		(0.8)
OTHER PULMONARY HYPERTENSION
US		18	24	(29.4)		(29.4)		—
Intl		45	48	(9.7)		(3.9)		(5.8)
WW		61	73	(16.2)		(12.4)		(3.8)

CARDIOVASCULAR / METABOLISM / OTHER
US		652	776	(15.9)		(15.9)		—
Intl		185	194	(4.7)		(6.7)		2.0
WW		837	971	(13.7)		(14.1)		0.4
XARELTO
US		525	667	(21.2)		(21.2)		—
Intl		—	—	—		—		—
WW		525	667	(21.2)		(21.2)		—








OTHER
US		127	110	15.9		15.9		—
Intl		185	194	(4.7)		(6.7)		2.0
WW		312	304	2.8		1.5		1.3

TOTAL INNOVATIVE MEDICINE
US		8,079	7,375	9.5		9.5		—
Intl		5,643	5,788	(2.5)		(3.1)		0.6
WW	$	13,722	13,163	4.2	%	4.0	%	0.2	%


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2023	2022	Reported	Operational (1)	Currency
MEDTECH SEGMENT (2,3)

INTERVENTIONAL SOLUTIONS
US	$	971	603	61.0	61.0	—
Intl		698	495	40.8	41.7	(0.9)
WW		1,669	1,098	51.9	52.3	(0.4)

ELECTROPHYSIOLOGY
US		667	547	22.0	22.0	—
Intl		572	447	28.0	29.0	(1.0)
WW		1,239	994	24.7	25.2	(0.5)

ABIOMED
US		276	31	*	*	—
Intl		64	—	*	*	—
WW		340	31	*	*	—

OTHER INTERVENTIONAL SOLUTIONS
US		28	25	8.8	8.8	—
Intl		61	48	26.5	27.1	(0.6)
WW		89	73	20.4	20.7	(0.3)

ORTHOPAEDICS
US		1,425	1,385	2.9	2.9	—
Intl		843	763	10.5	8.8	1.7
WW		2,268	2,148	5.6	5.0	0.6

HIPS
US		266	250	6.3	6.3	—
Intl		132	135	(2.0)	(3.9)	1.9
WW		398	385	3.4	2.7	0.7

KNEES
US		242	231	4.5	4.5	—
Intl		144	122	18.1	15.6	2.5
WW		387	354	9.2	8.4	0.8

TRAUMA
US		487	470	3.6	3.6	—
Intl		255	240	5.9	4.1	1.8
WW		741	710	4.4	3.8	0.6

SPINE, SPORTS & OTHER
US		430	434	(0.7)	(0.7)	—
Intl		311	265	17.5	16.5	1.0
WW		742	699	6.2	5.8	0.4

See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		FOURTH QUARTER
				% Change
		2023	2022	Reported		Operational (1)		Currency
MEDTECH SEGMENT (2,3)(Continued)

SURGERY
US	$	1,047	1,000	4.6	%	4.6	%	—	%
Intl		1,484	1,383	7.2		7.8		(0.6)
WW		2,530	2,384	6.1		6.4		(0.3)

ADVANCED
US		468	456	2.5		2.5		—
Intl		698	653	7.0		7.2		(0.2)
WW		1,167	1,109	5.1		5.2		(0.1)

GENERAL
US		579	544	6.4		6.4		—
Intl		785	731	7.4		8.3		(0.9)
WW		1,364	1,275	7.0		7.5		(0.5)

VISION
US		487	456	6.8		6.8		—
Intl		721	689	4.6		6.4		(1.8)
WW		1,208	1,145	5.5		6.6		(1.1)

CONTACT LENSES / OTHER
US		374	343	8.9		8.9		—
Intl		508	489	4.2		7.2		(3.0)
WW		882	831	6.1		7.9		(1.8)
SURGICAL
US		114	113	0.4		0.4		—
Intl		212	200	5.6		4.7		0.9
WW		326	314	3.7		3.1		0.6

TOTAL MEDTECH
US		3,930	3,445	14.1		14.1		—
Intl		3,743	3,331	12.4		12.8		(0.4)
WW	$	7,673	6,776	13.3	%	13.4	%	(0.1)	%


See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2023	2022	Reported		Operational (1)		Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)

IMMUNOLOGY
US	$	11,539	11,036	4.6	%	4.6	%	—	%
Intl		6,513	5,899	10.4		12.0		(1.6)
WW		18,052	16,935	6.6		7.1		(0.5)
REMICADE
US		1,143	1,417	(19.3)		(19.3)		—
US Exports (5)		147	204	(28.0)		(28.0)		—
Intl		549	722	(23.9)		(21.3)		(2.6)
WW		1,839	2,343	(21.5)		(20.7)		(0.8)
SIMPONI / SIMPONI ARIA
US		1,124	1,166	(3.6)		(3.6)		—
Intl		1,073	1,017	5.4		9.3		(3.9)
WW		2,197	2,184	0.6		2.4		(1.8)
STELARA
US		6,966	6,388	9.0		9.0		—
Intl		3,892	3,335	16.7		17.4		(0.7)
WW		10,858	9,723	11.7		11.9		(0.2)
TREMFYA
US		2,147	1,844	16.5		16.5		—
Intl		999	824	21.2		22.4		(1.2)
WW		3,147	2,668	17.9		18.3		(0.4)
OTHER IMMUNOLOGY
US		11	17	(33.8)		(33.8)		—
Intl		0	0	—		—		—
WW		11	17	(33.8)		(33.8)		—

INFECTIOUS DISEASES
US		1,500	1,680	(10.7)		(10.7)		—
Intl		2,918	3,769	(22.6)		(23.9)		1.3
WW		4,418	5,449	(18.9)		(19.8)		0.9
COVID-19 VACCINE
US		0	120	*		*		—
Intl		1,117	2,059	(45.8)		(47.2)		1.4
WW		1,117	2,179	(48.8)		(50.1)		1.3
EDURANT / rilpivirine
US		35	36	(3.7)		(3.7)		—
Intl		1,115	972	14.8		12.1		2.7
WW		1,150	1,008	14.1		11.5		2.6
PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA
US		1,446	1,494	(3.2)		(3.2)		—
Intl		408	449	(9.2)		(10.4)		1.2
WW		1,854	1,943	(4.6)		(4.9)		0.3
OTHER INFECTIOUS DISEASES
US		19	30	(34.5)		(34.5)		—
Intl		278	289	(3.8)		(0.4)		(3.4)
WW		297	318	(6.7)		(3.6)		(3.1)

See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2023	2022	Reported	Operational (1)	Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)

NEUROSCIENCE
US	$	4,065	3,570	13.9%	13.9%	—%
Intl		3,076	3,323	(7.5)	(3.7)	(3.8)
WW		7,140	6,893	3.6	5.4	(1.8)
CONCERTA / methylphenidate
US		230	151	52.5	52.5	—
Intl		554	493	12.2	16.4	(4.2)
WW		783	644	21.6	24.9	(3.3)
INVEGA SUSTENNA / XEPLION / INVEGA
TRINZA / TREVICTA
US		2,897	2,714	6.7	6.7	—
Intl		1,218	1,426	(14.6)	(12.8)	(1.8)
WW		4,115	4,140	(0.6)	0.0	(0.6)
SPRAVATO
US		589	328	79.7	79.7	—
Intl		100	46	*	*	*
WW		689	374	84.1	84.0	0.1
OTHER NEUROSCIENCE
US		349	376	(7.3)	(7.3)	—
Intl		1,204	1,358	(11.3)	(5.4)	(5.9)
WW		1,553	1,734	(10.4)	(5.9)	(4.5)

ONCOLOGY
US		8,462	6,930	22.1	22.1	—
Intl		9,199	9,052	1.6	2.9	(1.3)
WW		17,661	15,983	10.5	11.2	(0.7)
CARVYKTI
US		469	133	*	*	—
Intl		30	—	*	*	—
WW		500	133	*	*	*
DARZALEX
US		5,277	4,210	25.4	25.4	—
Intl		4,467	3,767	18.6	20.2	(1.6)
WW		9,744	7,977	22.2	22.9	(0.7)
ERLEADA
US		1,065	968	10.0	10.0	—
Intl		1,322	913	44.8	46.0	(1.2)
WW		2,387	1,881	26.9	27.5	(0.6)
IMBRUVICA
US		1,051	1,390	(24.4)	(24.4)	—
Intl		2,214	2,394	(7.5)	(6.7)	(0.8)
WW		3,264	3,784	(13.7)	(13.2)	(0.5)
ZYTIGA / abiraterone acetate
US		50	74	(32.1)	(32.1)	—
Intl		837	1,696	(50.7)	(49.1)	(1.6)
WW		887	1,770	(49.9)	(48.4)	(1.5)
OTHER ONCOLOGY
US		549	156	*	*	—
Intl		330	283	16.9	17.0	(0.1)
WW		879	438	*	*	*


Johnson & Johnson
Segment Sales
(Dollars in Millions)


		TWELVE MONTHS
				% Change
		2023	2022	Reported		Operational (1)		Currency
INNOVATIVE MEDICINE SEGMENT (2,3,4)(Continued)

PULMONARY HYPERTENSION
US	$	2,697	2,346	15.0	%	15.0	%	—	%
Intl		1,117	1,071	4.3		8.3		(4.0)
WW		3,815	3,417	11.6		12.9		(1.3)
OPSUMIT
US		1,292	1,132	14.1		14.1		—
Intl		681	651	4.6		7.2		(2.6)
WW		1,973	1,783	10.6		11.6		(1.0)
UPTRAVI
US		1,326	1,104	20.1		20.1		—
Intl		255	218	17.3		21.8		(4.5)
WW		1,582	1,322	19.7		20.4		(0.7)
OTHER PULMONARY HYPERTENSION
US		79	110	(28.6)		(28.6)		—
Intl		182	202	(10.3)		(2.9)		(7.4)
WW		260	313	(16.7)		(12.0)		(4.7)

CARDIOVASCULAR / METABOLISM / OTHER
US		2,906	3,042	(4.5)		(4.5)		—
Intl		765	845	(9.4)		(9.1)		(0.3)
WW		3,671	3,887	(5.5)		(5.5)		0.0
XARELTO
US		2,365	2,473	(4.4)		(4.4)		—
Intl		—	—	—		—		—
WW		2,365	2,473	(4.4)		(4.4)		—








OTHER
US		541	569	(5.0)		(5.0)		—
Intl		765	845	(9.4)		(9.1)		(0.3)
WW		1,306	1,414	(7.6)		(7.4)		(0.2)

TOTAL INNOVATIVE MEDICINE
US		31,169	28,604	9.0		9.0		—
Intl		23,590	23,959	(1.5)		(0.2)		(1.3)
WW	$	54,759	52,563	4.2	%	4.8	%	(0.6)	%


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2023	2022	Reported		Operational (1)		Currency
MEDTECH SEGMENT (2,3)

INTERVENTIONAL SOLUTIONS
US	$	3,633	2,169	67.5	%	67.5	%	—	%
Intl		2,717	2,131	27.5		31.7		(4.2)
WW		6,350	4,300	47.7		49.8		(2.1)

ELECTROPHYSIOLOGY
US		2,458	2,036	20.7		20.7		—
Intl		2,230	1,901	17.3		21.5		(4.2)
WW		4,688	3,937	19.1		21.1		(2.0)

ABIOMED
US		1,066	31	*		*		—
Intl		240	—	*		*		—
WW		1,306	31	*		*		—

OTHER INTERVENTIONAL SOLUTIONS
US		109	102	6.7		6.7		—
Intl		247	230	7.3		11.4		(4.1)
WW		356	332	7.1		9.9		(2.8)

ORTHOPAEDICS
US		5,525	5,321	3.8		3.8		—
Intl		3,417	3,267	4.6		5.8		(1.2)
WW		8,942	8,587	4.1		4.6		(0.5)

HIPS
US		996	943	5.6		5.6		—
Intl		564	571	(1.2)		(0.1)		(1.1)
WW		1,560	1,514	3.0		3.5		(0.5)

KNEES
US		896	851	5.3		5.3		—
Intl		559	508	10.2		11.1		(0.9)
WW		1,456	1,359	7.1		7.5		(0.4)

TRAUMA
US		1,949	1,882	3.6		3.6		—
Intl		1,030	989	4.1		4.8		(0.7)
WW		2,979	2,871	3.8		4.0		(0.2)

SPINE, SPORTS & OTHER
US		1,684	1,645	2.4		2.4		—
Intl		1,263	1,198	5.4		7.3		(1.9)
WW		2,947	2,843	3.7		4.5		(0.8)

See footnotes at end of schedule


Johnson & Johnson
Segment Sales
(Dollars in Millions)

		TWELVE MONTHS
				% Change
		2023	2022	Reported		Operational (1)		Currency
MEDTECH SEGMENT (2,3)(Continued)

SURGERY
US	$	4,031	3,897	3.4	%	3.4	%	—	%
Intl		6,006	5,793	3.7		7.0		(3.3)
WW		10,037	9,690	3.6		5.5		(1.9)

ADVANCED
US		1,833	1,784	2.8		2.8		—
Intl		2,837	2,785	1.9		5.1		(3.2)
WW		4,671	4,569	2.2		4.2		(2.0)

GENERAL
US		2,198	2,113	4.0		4.0		—
Intl		3,168	3,008	5.3		8.7		(3.4)
WW		5,366	5,121	4.8		6.8		(2.0)

VISION
US		2,086	1,990	4.8		4.8		—
Intl		2,986	2,859	4.5		7.9		(3.4)
WW		5,072	4,849	4.6		6.6		(2.0)

CONTACT LENSES / OTHER
US		1,626	1,522	6.8		6.8		—
Intl		2,076	2,022	2.7		7.0		(4.3)
WW		3,702	3,543	4.5		6.9		(2.4)
SURGICAL
US		460	468	(1.8)		(1.8)		—
Intl		910	837	8.6		10.0		(1.4)
WW		1,370	1,306	4.9		5.8		(0.9)

TOTAL MEDTECH
US		15,275	13,377	14.2		14.2		—
Intl		15,125	14,050	7.7		10.6		(2.9)
WW	$	30,400	27,427	10.8	%	12.4	%	(1.6)	%


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) Certain prior year amounts have been reclassified to conform to current year product disclosures
(4) Previously referred to as Pharmaceutical
(5) Reported as U.S. sales


Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)

		FOURTH QUARTER
					% Change
		2023		2022	Total		Operations	Currency

	Innovative Medicine
	U.S.	$	8,079	7,375	9.5	%	9.5	-
	International	5,643		5,788	(2.5)		(3.1)	0.6
	Worldwide	13,722		13,163	4.2		4.0	0.2

	COVID-19 Vaccine
	U.S.	-		-	-		-	-
	International	44		689	(93.7)		(95.2)	1.5
	Worldwide	44		689	(93.7)		(95.2)	1.5

	Innovative Medicine excluding COVID-19 Vaccine
	U.S.	8,079		7,375	9.5		9.5	-
	International	5,599		5,099	9.8		9.4	0.4
	Worldwide	13,678		12,474	9.7		9.5	0.2

	Worldwide
	U.S.	12,009		10,820	11.0		11.0	-
	International	9,386		9,119	2.9		2.7	0.2
	Worldwide	21,395		19,939	7.3		7.2	0.1

	COVID-19 Vaccine
	U.S.	-		-	-		-	-
	International	44		689	(93.7)		(95.2)	1.5
	Worldwide	44		689	(93.7)		(95.2)	1.5

	Worldwide
	U.S.	12,009		10,820	11.0		11.0	-
	International	9,342		8,430	10.8		10.7	0.1
	Worldwide excluding COVID-19 Vaccine	$	21,351	19,250	10.9	%	10.9	-


	Note: Columns and rows within tables may not add due to rounding


Supplemental Sales Reconciliation (Unaudited)
(Dollars in Millions)

		TWELVE MONTHS
					% Change
		2023		2022	Total		Operations	Currency

	Innovative Medicine
	U.S.	$	31,169	28,604	9.0	%	9.0	-
	International	23,590		23,959	(1.5)		(0.2)	(1.3)
	Worldwide	54,759		52,563	4.2		4.8	(0.6)

	COVID-19 Vaccine
	U.S.	-		120	*		*	-
	International	1,117		2,059	(45.8)		(47.2)	1.4
	Worldwide	1,117		2,179	(48.8)		(50.1)	1.3

	Innovative Medicine excluding COVID-19 Vaccine
	U.S.	31,169		28,484	9.4		9.4	-
	International	22,473		21,900	2.6		4.3	(1.7)
	Worldwide	53,642		50,384	6.5		7.2	(0.7)

	Worldwide
	U.S.	46,444		41,981	10.6		10.6	-
	International	38,715		38,009	1.9		3.8	(1.9)
	Worldwide	85,159		79,990	6.5		7.4	(0.9)

	COVID-19 Vaccine
	U.S.	-		120	*		*	-
	International	1,117		2,059	(45.8)		(47.2)	1.4
	Worldwide	1,117		2,179	(48.8)		(50.1)	1.3

	Worldwide
	U.S.	46,444		41,861	10.9		10.9	-
	International	37,598		35,950	4.6		6.7	(2.1)
	Worldwide excluding COVID-19 Vaccine	$	84,042	77,811	8.0	%	9.0	(1.0)


	Note: Columns and rows within tables may not add due to rounding

	* Percentage greater than 100% or not meaningful

Johnson & Johnson (JNJ) 8-KJohnson & Johnson Reports Q4 and Full-Year 2023 Results