Johnson & Johnson Q2 2024 10-Q Filed

Ticker: JNJ · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 200406

Johnson & Johnson 10-Q Filing Summary
FieldDetail
CompanyJohnson & Johnson (JNJ)
Form Type10-Q
Filed DateJul 25, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, debt

TL;DR

JNJ Q2 10-Q is in, check out their debt maturities through 2044.

AI Summary

Johnson & Johnson filed its 10-Q for the period ending June 30, 2024. The company's fiscal year ends on December 29th. Key financial data and debt instruments, including notes due in 2024, 2028, 2032, 2035, 2036, and 2044, are detailed within the filing.

Why It Matters

This filing provides investors with an update on Johnson & Johnson's financial health and debt obligations for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

FAQ

What is Johnson & Johnson's fiscal year end date?

Johnson & Johnson's fiscal year ends on December 29th.

What period does this 10-Q filing cover?

This 10-Q filing covers the period ending June 30, 2024.

What is Johnson & Johnson's Central Index Key (CIK)?

Johnson & Johnson's Central Index Key is 0000200406.

What are some of the debt instruments mentioned in the filing?

The filing mentions debt instruments such as A5.50NotesDue2024Member, A1.150NotesDueNovember2028Member, and A3.550NotesDueNovember2044Member.

In which state is Johnson & Johnson incorporated?

Johnson & Johnson is incorporated in New Jersey (NJ).

Filing Stats: 4,650 words · 19 min read · ~16 pages · Grade level 18.1 · Accepted 2024-07-25 16:02:29

Key Financial Figures

Filing Documents

Financial statements (unaudited)

Financial statements (unaudited) 1 Consolidated balance sheets — June 3 0 , 2024 and December 31, 2023 1 Consolidated statements of earnings for the fiscal second quarters ended June 3 0 , 2024 and July 2 , 2023 2 Consolidated s tatements of e arnings for the f iscal six m onths e nded June 30 , 202 4 and July 2, 202 3 3 Consolidated statements of comprehensive income for the fiscal second quarters and fiscal six mon ths ended June 3 0 , 2024 and July 2, 2023 4 Consolidated statements of equity for the fiscal second quarters and fiscal six months ended June 3 0 , 2024 and July 2, 2023 5 Consolidated statements of cash flows for the fiscal six months ended June 3 0 , 2024 and July 2, 2023 7

Notes to consolidated financial statements

Notes to consolidated financial statements 9 Item 2

Management's discussion and analysis of financial condition and results of operations

Management's discussion and analysis of financial condition and results of operations 42 Item 3

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 60 Item 4

Controls and procedures

Controls and procedures 60 Part II Other information 61 Item 1

Legal proceedings

Legal proceedings 61 Item 2 Unregistered sales of equity securities and use of proceeds 61 Item 5 Other information 62 Item 6 Exhibits 62

Signatures

Signatures 63 Cautionary note regarding forward-looking statements This Quarterly Report on Form 10-Q and Johnson & Johnson's other publicly available documents contain "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Management and representatives of Johnson & Johnson and its subsidiaries (the Company) also may from time to time make forward-looking statements. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements may be identified by the use of words such as "plans," "expects," "will," "anticipates," "estimates," and other words of similar meaning in conjunction with, among other things: discussions of future operations, expected operating results, financial performance; impact of planned acquisitions and dispositions; impact and timing of restructuring initiatives including associated cost savings and other benefits; the Company's strategy for growth; product development activities; regulatory approvals; market position and expenditures. Because forward-looking statements are based on current beliefs, expectations and assumptions regarding future events, they are subject to uncertainties, risks and changes that are difficult to predict and many of which are outside of the Company's control. Investors should realize that if underlying assumptions prove inaccurate, or known or unknown risks or uncertainties materialize, the Company's actual results and financial condition could vary materially from expectations and projections expressed or implied in its forward-looking statements. Investors are therefore cautioned not to rely on these forward-looking statements. Risks and uncertainties include, but are not limited to: Risks related to product development, market success and competition Challenges and uncertaint

— Financial information

Part I — Financial information

— Financial statements

Item 1 — Financial statements Johnson & Johnson and subsidiaries consolidated balance sheets (Unaudited; Dollars in Millions Except Share and Per Share Data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents (Note 4) $ 24,878 21,859 Marketable securities 597 1,068 Accounts receivable, trade, less allowances $ 161 (2023, $ 166 ) 15,794 14,873 Inventories (Note 2) 12,169 11,181 Prepaid expenses and other 4,379 4,514 Total current assets 57,817 53,495 Property, plant and equipment at cost 48,035 47,776 Less: accumulated depreciation ( 28,287 ) ( 27,878 ) Property, plant and equipment, net 19,748 19,898 Intangible assets, net (Note 3) 39,725 34,175 Goodwill (Note 3) 44,250 36,558 Deferred taxes on income (Note 5) 9,004 9,279 Other assets 10,544 14,153 Total assets $ 181,088 167,558 Liabilities and shareholders' equity Current liabilities: Loans and notes payable $ 9,855 3,451 Accounts payable 8,848 9,632 Accrued liabilities 10,539 10,212 Accrued rebates, returns and promotions 17,539 16,001 Accrued compensation and employee related obligations 2,843 3,993 Accrued taxes on income (Note 5) 4,309 2,993 Total current liabilities 53,933 46,282 Long-term debt (Note 4) 31,636 25,881 Deferred taxes on income (Note 5) 2,635 3,193 Employee related obligations (Note 6) 6,919 7,149 Long-term taxes payable (Note 5) 341 2,881 Other liabilities 14,086 13,398 Total liabilities $ 109,550 98,784 Commitments and Contingencies (Note 11) Shareholders' equity: Common stock — par value $ 1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) $ 3,120 3,120 Accumulated other comprehensive income (loss) (Note 7) ( 11,253 ) ( 12,527 ) Retained earnings and Additional paid-in capital 155,360 153,843 Less: common stock held in treasury, at cost ( 712,997,000 and 712,765,000 shares) 75,689 75,662 Total shareholders' equity $ 71,538 68,774 Total liabilities and shareholders' equity $ 181,088 16

Notes to consolidated financial statements

Notes to consolidated financial statements Note 1 — The accompanying unaudited interim consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of Johnson & Johnson and its subsidiaries (the Company) and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The unaudited interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures. New accounting standards The Company assesses the adoption impac

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