Johnson and Johnson 2008 Annual Report Download - page 72

70 SUMMARY OF OPERATIONS AND STATISTICAL DATA
Summary of Operations and Statistical Data 1998-2008
(Dollars in Millions Except Per Share Figures) 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Sales to customer — U.S. $32,309 32,444 29,775 28,377 27,770 25,274 22,455 19,825 17,316 15,532 12,901
Sales to customer — International 31,438 28,651 23,549 22,137 19,578 16,588 13,843 12,492 11,856 11,825 10,910
Total sales 63,747 61,095 53,324 50,514 47,348 41,862 36,298 32,317 29,172 27,357 23,811
Cost of products sold 18,511 17,751 15,057 14,010 13,474 12,231 10,498 9,622 8,987 8,559 7,711
Selling, marketing and administrative expenses 21,490 20,451 17,433 17,211 16,174 14,463 12,520 11,510 10,675 10,182 8,595
Research expense 7,577 7,680 7,125 6,462 5,344 4,834 4,094 3,704 3,186 2,821 2,538
Purchased in-process research and development 181 807 559 362 18 918 189 105 66 —298
Interest income (361) (452) (829) (487) (195) (177) (256) (456) (429) (266) (302)
Interest expense, net of portion capitalized 435 296 63 54 187 207 160 153 204 255 186
Other (income) expense, net(4) (1,015) 534 (671) (214) 15 (385) 294 185 (94) 119 12
Restructuring — 745 ————————553
46,818 47,812 38,737 37,398 35,017 32,091 27,499 24,823 22,595 21,670 19,591
Earnings before provision for taxes on income 16,929 13,283 14,587 13,116 12,331 9,771 8,799 7,494 6,577 5,687 4,220
Provision for taxes on income 3,980 2,707 3,534 3,056 4,151 2,923 2,522 2,089 1,813 1,554 1,196
Net earnings 12,949 10,576 11,053 10,060 8,180 6,848 6,277 5,405 4,764 4,133 3,024
Percent of sales to customers 20.3 17.3 20.7 19.9 17.3 16.4 17.3 16.7 16.3 15.1 12.7
Diluted net earnings per share of common stock $ 4.57 3.63 3.73 3.35 2.74 2.29 2.06 1.75 1.55 1.34 1.00
Percent return on average shareholders’ equity 30.2 25.6 28.3 28.2 27.3 27.1 26.4 24.0 25.3 26.0 21.6
Percent increase (decrease) over previous year:
Sales to customers 4.3 14.6 5.6 6.7 13.1 15.3 12.3 10.8 6.6 14.9 5.7
Diluted net earnings per share 25.9 (2.7) 11.3 22.3 19.7 11.2 17.7 12.9 15.7 34.0 (1.0)
Supplementary expense data:
Cost of materials and services(1) $29,346 27,967 22,912 22,328 21,053 18,568 16,540 15,333 14,113 13,922 11,779
Total employment costs 14,523 14,571 13,444 12,364 11,581 10,542 8,942 8,153 7,376 6,727 6,021
Depreciation and amortization 2,832 2,777 2,177 2,093 2,124 1,869 1,662 1,605 1,592 1,510 1,335
Maintenance and repairs(2) 583 483 506 510 462 395 360 372 327 322 286
Total tax expense(3) 5,558 4,177 4,857 4,285 5,215 3,890 3,325 2,854 2,517 2,221 1,845
Supplementary balancesheet data:
Property, plant and equipment, net 14,365 14,185 13,044 10,830 10,436 9,846 8,710 7,719 7,409 7,155 6,767
Additions toproperty, plant and equipment 3,066 2,942 2,666 2,632 2,175 2,262 2,099 1,731 1,689 1,822 1,610
Total assets 84,912 80,954 70,556 58,864 54,039 48,858 40,984 38,771 34,435 31,163 29,019
Long-term debt 8,120 7,074 2,014 2,017 2,565 2,955 2,022 2,217 3,163 3,429 2,652
Operating cash flow 14,972 15,022 14,248 11,799 11,089 10,571 8,135 8,781 6,889 5,913 5,104
Common stock information
Dividends paid per share $ 1.795 1.620 1.455 1.275 1.095 0.925 0.795 0.700 0.620 0.550 0.490
Shareholders’ equity per share $ 15.35 15.25 13.59 13.01 10.95 9.25 7.79 8.05 6.82 5.73 4.95
Market price per share (year-end close) $ 58.56 67.38 66.02 60.10 63.42 50.62 53.11 59.86 52.53 46.63 41.94
Average shares outstanding (millions) — basic 2,802.5 2,882.9 2,936.4 2,973.9 2,968.4 2,968.1 2,998.3 3,033.8 2,993.5 2,978.2 2,973.6
— diluted 2,835.6 2,910.7 2,961.0 3,002.8 2,992.7 2,995.1 3,049.1 3,089.3 3,075.2 3,090.4 3,067.0
Employees (thousands) 118.7 119.2 122.2 115.6 109.9 110.6 108.3 101.8 100.9 99.8 96.1
(1) Net of interest and other income.
(2) Also included in cost of materials and services category.
(3) Includes taxes on income, payroll, property and other business taxes.
(4) 2008 includes a $536 million before tax gain from the divestiture of the Professional Wound Care business of Ethicon, Inc. and a $379 million before tax net fourth quarter litigation gain.
2007 includes a $678 million before tax write-down related to the NATRECOR® intangible asset.