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A summary of the restricted share units and performance share units activity under the Plans as of December 28, 2014 is
presented below:
(Shares in Thousands)
Outstanding
Restricted
Share Units
Outstanding
Performance
Share Units
Shares at January 1, 2012 31,026
Granted 12,197 327
Issued (9,278) –
Canceled/forfeited (2,111) (42)
Shares at December 30, 2012 31,834 285
Granted 10,582 1,290
Issued (10,078) –
Canceled/forfeited (1,721) (40)
Shares at December 29, 2013 30,617 1,535
Granted 8,487 1,113
Issued (9,685) (19)
Canceled/forfeited (1,726) (98)
Shares at December 28, 2014 27,693 2,531
The average fair value of the restricted share units granted was $83.01, $65.90 and $58.93 in 2014, 2013 and 2012,
respectively, using the fair market value at the date of grant. The fair value of restricted share units was discounted for
dividends, which are not paid on the restricted share units during the vesting period. The fair value of restricted share units
issued was $541.0 million, $569.2 million and $483.2 million in 2014, 2013 and 2012, respectively.
The weighted average fair value of the performance share units granted was $85.94, $73.42 and $55.01 in 2014, 2013
and 2012, calculated using the weighted average fair market value for each of the three component goals at the date of
grant.
The fair values for the sales and earnings per share goals of each performance share unit were estimated on the date of
grant using the fair market value of the shares at the time of the award discounted for dividends, which are not paid on the
performance share units during the vesting period. The fair value for the relative total shareholder return goal of each
performance share unit was estimated on the date of grant using the Monte Carlo valuation model. The fair value of
performance share units issued in 2014 was $1.4 million due to accelerated vesting in accordance with the plan
document. No performance share units vested in 2013 and 2012.
18. Segments of Business and Geographic Areas
Sales to Customers
(Dollars in Millions) 2014 2013 2012
Consumer –
United States $5,096 5,162 5,046
International 9,400 9,535 9,401
Total 14,496 14,697 14,447
Pharmaceutical –
United States 17,432 13,948 12,421
International 14,881 14,177 12,930
Total 32,313 28,125 25,351
Medical Devices –
United States 12,254 12,800 12,363
International 15,268 15,690 15,063
Total 27,522 28,490 27,426
Worldwide total $74,331 71,312 67,224
48 •Johnson & Johnson 2014 Annual Report