Johnson and Johnson Sales to customers Cost of products sold Gross profit Restructuring (Note 22) Selling, marketing and administrative expenses In-process research and development (Note 5) Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Earnings before provision for taxes on income Provision for taxes on income (Note 8) Net earnings Statutory rate Operating profits before tax Tax for both non operatinng and operatinng items Tax on non operating items (tax shield) Tax for operating items NOPAT A B C D 2019 2018 82,059 81,581 27,556 27,091 54,503 54,490 22,178 22,540 11,355 10,775 890 1,126 ($357) ($611) $318 $1,005 $2,525 $1,405 266 251 $17,328 $17,999 $2,209 $2,702 $15,119 $15,297 21%