Johnson and Johnson 2006 Annual Report Download - page 53

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See Notes to Consolidated Financial Statements
CONSOLIDATED FINANCIAL ST A TEMENTS51
Johnson & Johnson and Subsidiaries
(Dollars in Millions Except Per Share Figures) (Note 1) 2006 2005 2004
Sales to customers$53,324 50,514 47,348
Cost of products sold 15,057 14,010 13,474
Gross profit 38,267 36,504 33,874
Selling, marketing and administrative expenses 17,433 17,211 16,174
Research expense 7,125 6,462 5,344
Purchased in-process research and development (Note 17) 559 362 18
Interest income (829) (487) (195)
Interest expense, net of portion capitalized (Note 3) 63 54 187
Other (income) expense, net (671) (214) 15
23,680 23,388 21,543
Earnings before provision for taxes on income 14,587 13,116 12,331
Provision for taxes on income (Note 8) 3,534 3,056 4,151
Net earnings $11,053 10,060 8,180
Basic net earnings pershare (Notes 1 and 19)$3.76 3.38 2.76
Diluted net earnings per share (Notes 1 and 19)$3.73 3.35 2.74
See Notes to Consolidated Financial Statements
Consolidated Statements of Earnings