Johnson and Johnson 2010 Annual Report Download - page 44

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Consolidated Statements of Earnings Johnson & Johnson and Subsidiaries
(Dollars in Millions Except Per Share Figures) (Note 1) 2010 2009 2008
42 JOHNSON & JOHNSON 2010 ANNUAL REPORT
Sales to customers$61,587 61,897 63,747
Cost of products sold 18,792 18,447 18,511
Gross profit 42,795 43,450 45,236
Selling, marketing and administrative expenses 19,424 19,801 21,490
Research and development expense 6,844 6,986 7,577
Purchased in-process research and development (Note 20) — — 181
Interest income (107) (90) (361)
Interest expense, net of portion capitalized (Note 4) 455 451 435
Other (income) expense, net (768) (526) (1,015)
Restructuring (Note 22) —1,073 —
Earnings before provision for taxes on income 16,947 15,755 16,929
Provision for taxes on income (Note 8) 3,613 3,489 3,980
Net earnings $13,334 12,266 12,949
Basic net earnings pershare (Notes 1 and 15)$4.85 4.45 4.62
Diluted net earnings per share (Notes 1 and 15)$4.78 4.40 4.57
Cash dividends per share$2.110 1.930 1.795
Basic average shares outstanding (Notes 1 and 15)2,751.4 2,759.5 2,802.5
Diluted average shares outstanding (Notes 1 and 15)2,788.8 2,789.1 2,835.6
See Notes to Consolidated Financial Statements