Johnson & Johnson - Index

Johnson & Johnson - report - Index

Consolidated Statements of Earnings
See Notes to Consolidated Financial Statements
Johnson & Johnson and Subsidiaries
(Dollars in Millions Except Per Share Figures) (Note 1) 2007 2006 2005
Sales to customers $61,095 53,324 50,514
Cost of products sold 17,751 15,057 14,010
Gross profit 43,344 38,267 36,504
Selling, marketing and administrative expenses 20,451 17,433 17,211
Research expense 7,680 7,125 6,462
Purchased in-process research and development (Note 17) 807 559 362
Restructuring (Note 22) 745 — —
Interest income (452) (829) (487)
Interest expense, net of portion capitalized (Note 3) 296 63 54
Other (income) expense, net 534 (671) (214)
30,061 23,680 23,388
Earnings before provision for taxes on income 13,283 14,587 13,116
Provision for taxes on income (Note 8) 2,707 3,534 3,056
Net earnings $10,576 11,053 10,060
Basic net earnings pershare (Notes 1 and 19) $ 3.67 3.76 3.38
Diluted net earnings per share (Notes 1 and 19) $ 3.63 3.73 3.35
C ONSOLIDA TED FINANCIAL ST A TEMENTS 49