Johnson & Johnson Q3 2024 10-Q Filing

TL;DR

JNJ Q3 2024 10-Q filed. Financials and debt details out.

AI Summary

Johnson & Johnson filed its 10-Q for the period ending September 29, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and disclosures related to the company's business segments and outstanding debt are presented.

Why It Matters

This filing provides investors with a detailed look at Johnson & Johnson's financial health and operational performance during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-09-29 — Fiscal Period End (This is the end date for the reporting period covered by the 10-Q.)
• 2024-10-23 — Filing Date (This is the date the 10-Q was officially filed with the SEC.)
• 12/29 — Fiscal Year End (Indicates the end of Johnson & Johnson's fiscal year.)

Key Players & Entities

• JOHNSON & JOHNSON (company) — Filer
• 0000200406 (company) — Central Index Key
• 20240929 (date) — Period of Report
• 20241023 (date) — Filing Date
• 2834 (other) — Standard Industrial Classification (Pharmaceutical Preparations)

FAQ

Key Financial Figures

• $1.00 — ich registered Common Stock, Par Value $1.00 JNJ New York Stock Exchange 5.50% Note

Filing Documents

• jnj-20240929.htm (10-Q) — 2704KB
• a20243qex311ceocertificati.htm (EX-31.1) — 8KB
• a20243qex312cfocertificati.htm (EX-31.2) — 8KB
• a20243qex321ceocertificati.htm (EX-32.1) — 5KB
• a20243qex322cfocertificati.htm (EX-32.2) — 4KB
• jnj-20240929_g1.jpg (GRAPHIC) — 24KB
• jnj-20240929_g10.jpg (GRAPHIC) — 17KB
• jnj-20240929_g11.jpg (GRAPHIC) — 17KB
• jnj-20240929_g12.jpg (GRAPHIC) — 19KB
• jnj-20240929_g2.jpg (GRAPHIC) — 32KB
• jnj-20240929_g3.jpg (GRAPHIC) — 23KB
• jnj-20240929_g4.jpg (GRAPHIC) — 32KB
• jnj-20240929_g5.jpg (GRAPHIC) — 23KB
• jnj-20240929_g6.jpg (GRAPHIC) — 18KB
• jnj-20240929_g7.jpg (GRAPHIC) — 14KB
• jnj-20240929_g8.jpg (GRAPHIC) — 17KB
• jnj-20240929_g9.jpg (GRAPHIC) — 15KB
• 0000200406-24-000096.txt ( ) — 14188KB
• jnj-20240929.xsd (EX-101.SCH) — 74KB
• jnj-20240929_cal.xml (EX-101.CAL) — 105KB
• jnj-20240929_def.xml (EX-101.DEF) — 354KB
• jnj-20240929_lab.xml (EX-101.LAB) — 912KB
• jnj-20240929_pre.xml (EX-101.PRE) — 606KB
• jnj-20240929_htm.xml (XML) — 3015KB

Financial statements (unaudited)

Financial statements (unaudited) 1 Consolidated balance sheets — September 29 , 2024 and December 31, 2023 1 Consolidated statements of earnings for the fiscal third quarters ended September 29 , 2024 and October 1 , 2023 2 Consolidated statements of earnings for the fiscal nine months ended Septem ber 29 , 2024 and October 1 , 2023 3 Consolidated statements of comprehensive income for the fiscal thir d quarters and fiscal nine months ended September 29 , 2024 and October 1 , 2023 4 Consolidated statements of equity for the fiscal third qua rters and fiscal nine months ended Sept e m ber 29 , 2024 and October 1 , 2023 5 Consolidated statements of cash flows for the fiscal nine months ended September 29 , 2024 and October 1 , 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 58 Item 4

Controls and procedures

Controls and procedures 58 Part II Other information 59 Item 1

Legal proceedings

Legal proceedings 59 Item 2 Unregistered sales of equity securities and use of proceeds 59 Item 5 Other information 60 Item 6 Exhibits 60

Signatures

Signatures 61 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) September 29, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents (Note 4) $ 19,980 21,859 Marketable securities 317 1,068 Accounts receivable, trade, less allowances $ 153 (2023, $ 166 ) 16,174 14,873 Inventories (Note 2) 12,603 11,181 Prepaid expenses and other 4,175 4,514 Total current assets 53,249 53,495 Property, plant and equipment at cost 49,274 47,776 Less: accumulated depreciation ( 28,795 ) ( 27,878 ) Property, plant and equipment, net 20,479 19,898 Intangible assets, net (Note 3) 39,490 34,175 Goodwill (Note 3) 44,799 36,558 Deferred taxes on income (Note 5) 9,349 9,279 Other assets 10,921 14,153 Total assets $ 178,287 167,558 Liabilities and shareholders' equity Current liabilities: Loans and notes payable $ 4,462 3,451 Accounts payable 8,954 9,632 Accrued liabilities 11,450 10,212 Accrued rebates, returns and promotions 18,439 16,001 Accrued compensation and employee related obligations 3,620 3,993 Accrued taxes on income (Note 5) 4,834 2,993 Total current liabilities 51,759 46,282 Long-term debt (Note 4) 31,289 25,881 Deferred taxes on income (Note 5) 2,952 3,193 Employee related obligations (Note 6) 6,852 7,149 Long-term taxes payable (Note 5) 354 2,881 Other liabilities 14,923 13,398 Total liabilities $ 108,129 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) ( 12,522 ) ( 12,527 ) Retained earnings and Additional paid-in capital 155,179 153,843 Less: common stock held in treasury, at cost ( 712,545,000 and 712,765,000 shares) 75,619 75,662 Total shareholders' equity $ 70,158 68,774 Total liabilities and shareholders' equity $ 178,2

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 Decemb

View Full Filing

View this 10-Q filing on SEC EDGAR