pathi cata aintains ( Fate , Alum |M | Male ) - ' Paraiya talgia aslee . W has attalian JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers S 82,584 Cost of products sold 28.427 Gross profit 54,157 Selling, marketing and administrative expenses 22.084 Rescarch and development expense 12.159 In process research and development (Note 5) 181 Interest income (111) Interest expense, net of portion capitalired (Note 4) 201 Other (income) expense, net 2.899 Restructuring (Note 20) 247 Earnings before provision for taxes on income 16,497 Provision for taxes on income (Note 8) 1,783 Net earnings 14,714 2019 82,059 27.556 54,303 22,178 11.15 890 (357) 11% 2.525 266 17.328 2,200 15,119 2018 81,581 27.091 54.490 22.540 10,275 1.126 (611) 1,005 1.403 251 17.909 2,702 15.297 5.59 5.51 5.72 5.63 5.70 5.61 Net earnings per share (Notes 1 and 15) Basic Diluted Average shares outstanding (Notes 1 and 15) Basic Diluted 2.632.8 2.670.7 2,645.1 2,684.3 2.681.5 2,728.7 See Notes to Consolidated Financial Statements JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS At January 3, 2021 and December 29, 2019 (Dollars in Millions Except Share and Per Share Amounts) (Note 1) 2020 2019 13,985 11.200 13,576 9,344 51,237 18,766 53,402 36,393 8.534 6.562 174,894 17.305 1.982 14.481 9.020 2.392 9.1 45.274 17.658 47.643 33.619 7,819 5,699 157.728 5 5 Assets Current assets Cash and cash equivalents (Note 1 and 2) Marketable securities (Notes and 2) Accounts receivable trade, less allowances for doublul accounts $293 (2019, 5226) Inventaries (Notes and 3) Prepaid expenses and other receivables Acets held for sale (Note IR) Total current assets Property, plant and equipment, net (Notes and 4) Intangible assets, net (Notes I and 5) Goodwill (Notes 1 and 5) Deferred taxes on income (Note 8) Other assets Total assets Liabilities and Shareholders' Equity Current liabilities Loans and notes payable (Note 7) Accounts payable Accrued liabilities Accrued rehatos, returns and promotions Accrued compensation and employee related obligations Accrued taxes on income (Note ) Total current liabilities Long-term debt (Note 7) Deferred taxes on income (Note ) Employee related obligations (Notes 9 and 101 Long-term taxes payable (Note 1) Other habilities Total liabilities commitments and Contingencies Note 19) hareholders' equity referred stock without par value (authorized and unissued 2,000,000 shares) ommon stock - par value $1.00 per share (Note 12) (authorized 4.320,000,000 shares, issued 3.119.843,000 shares) cumulated other comprehensive income (loss) (Note 13) 2.631 9.505 13.968 11,513 3.484 1,392 42,493 32,635 7.214 10,771 6.559 11,944 111,616 1.202 8,544 9,715 10.883 3.354 2,266 35,964 26.494 5.958 10,663 7.444 11.734 98.257 ained earning common stock held in treasury, at cost (Note 12) (487,331,000 shares and 487,336,000 shares) al shareholders' equity al liabilities and shareholders' equity 3,120 (15.242) 113.890 101.768 38,490 63,278 174,894 3,120 (15,891) 110.639 97,888 38.417 59,471 157,728 Votexio Consolidated Financial Statement pathi cata aintains ( Fate , Alum |M | Male ) - ' Paraiya talgia aslee . W has attalian JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers S 82,584 Cost of products sold 28.427 Gross profit 54,157 Selling, marketing and administrative expenses 22.084 Rescarch and development expense 12.159 In process research and development (Note 5) 181 Interest income (111) Interest expense, net of portion capitalired (Note 4) 201 Other (income) expense, net 2.899 Restructuring (Note 20) 247 Earnings before provision for taxes on income 16,497 Provision for taxes on income (Note 8) 1,783 Net earnings 14,714 2019 82,059 27.556 54,303 22,178 11.15 890 (357) 11% 2.525 266 17.328 2,200 15,119 2018 81,581 27.091 54.490 22.540 10,275 1.126 (611) 1,005 1.403 251 17.909 2,702 15.297 5.59 5.51 5.72 5.63 5.70 5.61 Net earnings per share (Notes 1 and 15) Basic Diluted Average shares outstanding (Notes 1 and 15) Basic Diluted 2.632.8 2.670.7 2,645.1 2,684.3 2.681.5 2,728.7 See Notes to Consolidated Financial Statements JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS At January 3, 2021 and December 29, 2019 (Dollars in Millions Except Share and Per Share Amounts) (Note 1) 2020 2019 13,985 11.200 13,576 9,344 51,237 18,766 53,402 36,393 8.534 6.562 174,894 17.305 1.982 14.481 9.020 2.392 9.1 45.274 17.658 47.643 33.619 7,819 5,699 157.728 5 5 Assets Current assets Cash and cash equivalents (Note 1 and 2) Marketable securities (Notes and 2) Accounts receivable trade, less allowances for doublul accounts $293 (2019, 5226) Inventaries (Notes and 3) Prepaid expenses and other receivables Acets held for sale (Note IR) Total current assets Property, plant and equipment, net (Notes and 4) Intangible assets, net (Notes I and 5) Goodwill (Notes 1 and 5) Deferred taxes on income (Note 8) Other assets Total assets Liabilities and Shareholders' Equity Current liabilities Loans and notes payable (Note 7) Accounts payable Accrued liabilities Accrued rehatos, returns and promotions Accrued compensation and employee related obligations Accrued taxes on income (Note ) Total current liabilities Long-term debt (Note 7) Deferred taxes on income (Note ) Employee related obligations (Notes 9 and 101 Long-term taxes payable (Note 1) Other habilities Total liabilities commitments and Contingencies Note 19) hareholders' equity referred stock without par value (authorized and unissued 2,000,000 shares) ommon stock - par value $1.00 per share (Note 12) (authorized 4.320,000,000 shares, issued 3.119.843,000 shares) cumulated other comprehensive income (loss) (Note 13) 2.631 9.505 13.968 11,513 3.484 1,392 42,493 32,635 7.214 10,771 6.559 11,944 111,616 1.202 8,544 9,715 10.883 3.354 2,266 35,964 26.494 5.958 10,663 7.444 11.734 98.257 ained earning common stock held in treasury, at cost (Note 12) (487,331,000 shares and 487,336,000 shares) al shareholders' equity al liabilities and shareholders' equity 3,120 (15.242) 113.890 101.768 38,490 63,278 174,894 3,120 (15,891) 110.639 97,888 38.417 59,471 157,728 Votexio Consolidated Financial Statement