Johnson and Johnson 2015 Annual Report Download - page 9

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Free cash flow is defined as operating cash flow less capital spending.
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This letter contains forward-looking statements relating to, among other things, future operating and financial
performance, product development, market position and business strategy. The reader is cautioned not to rely
on these statements, which are based on current expectations of future events. For important information about
these statements, including the risks, uncertainties and other factors that could cause actual results to vary
materially from the assumptions, expectations, and projections expressed in any forward-looking statements,
the reader should review the enclosed Annual Report on Form 10-K for the fiscal year ended January 3, 2016,
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Johnson does not undertake to update any forward-looking statement as a result of new information or future
events or developments.
I trust you share my enthusiasm in looking
forward to 2016 and the future of Johnson &
Johnson. Our 130-year heritage of leadership
and service will continue, and I offer my
sincere thanks for your support of our mission.
I am excited about the future for Johnson &
Johnson and committed to continuing our
long-term success.
Sincerely,
Alex Gorsky
Chairman, Board of Directors
and Chief Executive Officer
When we operate according to the principles
of Our Credo, our shareholders should
realize a fair return. We believe our long-term
success is the result of meeting the needs of
all the stakeholders outlined in Our Credo.
As the world’s largest health care company,
we have a unique perspective on the
challenges facing global health care. We
believe we also have a responsibility to lead
in addressing those challenges facing every
individual, family, community and country. With
the strong oversight of our Board of Directors,
the leadership of our management team and
the contributions of our more than 127,000
employees around the world, we will continue
to move this great company forward.
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