Johnson and Johnson 2009 Annual Report Download - page 39

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Consolidated Statements of Earnings Johnson & Johnson and Subsidiaries
(Dollars in Millions Except Per Share Figures) (Note 1) 2009 2008 2007
C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S 37
Sales to customers $61,897 63,747 61,095
Cost of products sold 18,447 18,511 17,751
Gross profit 43,450 45,236 43,344
Selling, marketing and administrative expenses 19,801 21,490 20,451
Research expense 6,986 7,577 7,680
Purchased in-process research and development (Note 20) — 181 807
Interest income (90) (361) (452)
Interest expense, net of portion capitalized (Note 4) 451 435 296
Other (income) expense, net (526) (1,015) 534
Restructuring (Note 22) 1,073 —745
Earnings before provision for taxes on income 15,755 16,929 13,283
Provision for taxes on income (Note 8) 3,489 3,980 2,707
Net earnings $12,266 12,949 10,576
Basic net earnings per share (Notes 1 and 15) $4.45 4.62 3.67
Diluted net earnings per share (Notes 1 and 15) $4.40 4.57 3.63
Cash dividends per share $1.930 1.795 1.620
Basic average shares outstanding (Notes 1 and 15) 2,759.5 2,802.5 2,882.9
Diluted average shares outstanding (Notes 1 and 15) 2,789.1 2,835.6 2,910.7
See Notes to Consolidated Financial Statements