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52 J O H N S O N & J O H N S O N 2 0 0 9 A N N U A L R E P O R T
11. Savings Plan
The Company has voluntary 401 (k) savings plans designed to
enhance the existing retirement programs covering eligible employ-
ees. The Company matches a percentage of each employee’s contri-
butions consistent with the provisions of the plan for which he/she
is eligible. Total Company matching contributions to the plans were
$163 million, $166 million and $169 million in 2009, 2008 and 2007,
respectively.
12. Capital and Treasury Stock
Changes in treasury stock were:
(Amounts in Millions Except Treasury Stock Treasury Stock
_______________________
Number of Shares in Thousands) Shares Amount
Balance at December 31, 2006 226,612 $10,974
Employee compensation and stock option plans (33,296) (2,180)
Conversion of subordinated debentures (194) (13)
Repurchase of common stock 86,498 5,607
Balance at December 30, 2007 279,620 14,388
Employee compensation and stock option plans (29,906) (2,005)
Conversion of subordinated debentures (19) (1)
Repurchase of common stock 100,970 6,651
Balance at December 28, 2008 350,665 19,033
Employee compensation and stock option plans (22,161) (1,377)
Conversion of subordinated debentures (96) (6)
Repurchase of common stock 37,114 2,130
Balance at January 3, 2010 365,522 $19,780
Aggregate shares of Common Stock issued were approximately
3,120 million shares at the end of 2009, 2008 and 2007.
Cash dividends paid were $1.930 per share in 2009, compared
with dividends of $1.795 per share in 2008 and $1.620 per share
in 2007.
13. Accumulated Other Comprehensive Income
Components of other comprehensive income/(loss) consist of
the following:
Total
Gains/ Accumulated
Foreign Gains/ (Losses) on Other
Currency (Losses) on Employee Derivatives Comprehensive
(Dollars in Millions) Translation Securities Benefit Plans & Hedges Income/(Loss)
December 31, 2006 $ (158) 61 (2,030) 9 (2,118)
2007 changes
Unrealized gain (loss) —28 —(78)
Net amount reclassed
to net earnings —(5) —24
Net 2007 changes 786 23 670 (54) 1,425
December 30, 2007 $ 628 84 (1,360) (45) (693)
2008 changes
Unrealized gain (loss) —(32) —94
Net amount reclassed
to net earnings —(27) —72
Net 2008 changes (2,499) (59) (1,870) 166 (4,262)
December 28, 2008 $(1,871) 25 (3,230) 121 (4,955)
2009 changes
Unrealized gain (loss) —(52) —38
Net amount reclassed
to net earnings —(3) —(14)
Net 2009 changes 1,363 (55) 565 24 1,897
January 3, 2010 $ (508) (30) (2,665) 145 (3,058)
The tax effect on the unrealized gains/(losses) on the equity securi-
ties was income of $14 million in 2009 and expense of $14 million
and $46 million in 2008 and 2007, respectively. The tax effect
related to employee benefit plans was $302 million, $1,090 million
and $349 million in 2009, 2008 and 2007, respectively. The tax
effect on the gains/(losses) on derivatives and hedges was expense
of $78 million and $70 million in 2009 and 2008, respectively, and
income of $24 million in 2007. See Note 6 for additional information
relating to derivatives and hedging.
The currency translation adjustments are not adjusted for
income taxes as they relate to permanent investments in
international subsidiaries.