Johnson and Johnson 2011 Annual Report Download - page 40

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Consolidated Statements of Earnings Johnson & Johnson and Subsidiaries
(Dollars in Millions Except Per Share Figures) (Note 1) 2011 2010 2009
38 JOHNSON & JOHNSON 2011 ANNUAL REPORT
Sales to customers $65,030 61,587 61,897
Cost of products sold 20,360 18,792 18,447
Gross profit 44,670 42,795 43,450
Selling, marketing and administrative expenses 20,969 19,424 19,801
Research and development expense 7,548 6,844 6,986
Interest income (91) (107) (90)
Interest expense, net of portion capitalized (Note 4) 571 455 451
Other (income) expense, net 2,743 (768) (526)
Restructuring (Note 22) 569 —1,073
Earnings before provision for taxes on income 12,361 16,947 15,755
Provision for taxes on income (Note 8) 2,689 3,613 3,489
Net earnings $ 9,672 13,334 12,266
Basic net earnings per share (Notes 1 and 15) $ 3.54 4.85 4.45
Diluted net earnings per share (Notes 1 and 15) $ 3.49 4.78 4.40
Cash dividends per share $ 2.25 2.11 1.93
Basic average shares outstanding (Notes 1 and 15) 2,736.0 2,751.4 2,759.5
Diluted average shares outstanding (Notes 1 and 15) 2,775.3 2,788.8 2,789.1
See Notes to Consolidated Financial Statements