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Johnson & Johnson (NYSE:JNJ)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Johnson & Johnson, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 27, 2026 Jun 28, 2026 Mar 29, 2026 Dec 28, 2025 Sep 28, 2025 Jun 29, 2025 Mar 30, 2025 Dec 29, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Oct 1, 2023 Jul 2, 2023 Apr 2, 2023 Dec 31, 2022 Oct 2, 2022 Jul 3, 2022 Apr 3, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021
Loans and notes payable 4.48 5.82 8.69 4.26 3.31 5.96 7.18 3.32 2.50 5.44 4.97 2.06 2.33 6.10 9.17 6.82 2.53 2.42 2.41 2.07 2.12 1.80 1.94
Accounts payable 4.72 4.59 5.21 6.02 4.99 4.89 4.93 5.73 5.02 4.89 4.75 5.75 5.03 5.45 5.06 6.25 5.80 5.49 5.22 6.07 5.00 4.93 4.93
Accrued liabilities 6.21 4.71 3.68 4.31 3.94 3.83 4.09 4.75 6.42 5.82 6.00 6.09 6.08 5.53 5.72 6.11 6.83 7.09 7.29 7.48 7.71 5.94 7.66
Accrued rebates, returns and promotions 9.59 9.94 9.16 9.60 11.08 10.77 9.70 9.76 10.34 9.69 9.41 9.55 9.52 8.18 7.54 7.69 8.01 7.57 7.27 6.64 7.08 7.06 6.91
Accrued compensation and employee related obligations 2.09 1.73 1.45 2.28 2.06 1.71 1.32 2.29 2.03 1.57 1.27 2.38 2.01 1.60 1.14 1.78 1.72 1.53 1.18 1.97 1.76 1.54 1.19
Accrued taxes on income 1.00 0.52 0.54 0.70 1.00 0.86 2.18 2.09 2.71 2.38 1.93 1.79 1.75 1.40 2.18 1.14 1.13 1.11 0.96 0.61 1.21 0.68 1.09
Current liabilities 28.09% 27.30% 28.73% 27.17% 26.38% 28.02% 29.38% 27.94% 29.03% 29.78% 28.33% 27.62% 26.72% 28.26% 30.81% 29.78% 26.01% 25.22% 24.33% 24.85% 24.86% 21.95% 23.72%
Long-term debt, excluding current portion 18.13 18.57 18.68 19.80 20.44 20.29 19.80 17.02 17.55 17.47 14.59 15.45 15.69 17.69 17.82 14.35 15.76 15.92 16.18 16.47 16.81 17.18 17.54
Deferred taxes on income 2.45 3.29 3.49 3.41 3.11 1.96 1.25 1.36 1.66 1.46 1.84 1.91 1.58 1.89 2.25 3.40 2.82 2.82 3.60 4.11 3.99 5.11 3.77
Employee related obligations 3.32 3.31 3.36 3.49 3.59 3.63 3.64 4.03 3.84 3.82 4.08 4.27 3.42 3.37 3.40 3.61 4.77 4.81 4.90 4.89 5.67 5.88 6.09
Long-term taxes payable 0.25 0.24 0.24 0.24 0.22 0.22 0.20 0.22 0.20 0.19 1.68 1.72 1.53 1.32 2.19 2.30 2.38 2.34 3.22 3.14 3.22 3.24 3.81
Other liabilities 6.46 5.02 5.08 4.95 5.15 5.31 5.39 9.74 8.37 7.78 8.76 8.00 8.17 7.61 7.36 5.57 5.66 5.92 5.89 5.87 6.24 7.21 6.92
Non-current liabilities 30.61% 30.44% 30.86% 31.90% 32.50% 31.41% 30.29% 32.37% 31.62% 30.71% 30.95% 31.33% 30.39% 31.88% 33.03% 29.23% 31.40% 31.82% 33.78% 34.49% 35.93% 38.62% 38.13%
Total liabilities 58.70% 57.74% 59.59% 59.07% 58.88% 59.42% 59.67% 60.31% 60.65% 60.50% 59.28% 58.96% 57.11% 60.14% 63.84% 59.01% 57.40% 57.04% 58.11% 59.33% 60.79% 60.56% 61.85%
Common stock, par value $1.00 per share 1.58 1.55 1.55 1.57 1.62 1.61 1.61 1.73 1.75 1.72 1.81 1.86 1.88 1.63 1.59 1.67 1.78 1.76 1.75 1.71 1.74 1.77 1.81
Accumulated other comprehensive loss -6.97 -6.94 -7.38 -7.49 -7.90 -7.40 -6.06 -6.52 -7.02 -6.21 -6.26 -7.48 -5.29 -6.85 -6.44 -6.92 -8.73 -7.79 -7.71 -7.17 -8.60 -8.56 -8.88
Retained earnings and Additional paid-in capital 85.28 85.38 84.20 84.82 86.76 85.51 83.97 86.50 87.04 85.79 89.19 91.81 91.86 67.50 63.56 68.50 73.04 71.02 69.74 67.61 67.56 68.10 67.52
Common stock held in treasury, at cost -38.59 -37.73 -37.96 -37.96 -39.36 -39.15 -39.19 -42.02 -42.41 -41.80 -44.03 -45.16 -45.55 -23.07 -22.55 -22.25 -23.50 -22.02 -21.89 -21.48 -21.49 -21.87 -22.29
Total Johnson & Johnson shareholders’ equity 41.30% 42.26% 40.41% 40.93% 41.12% 40.58% 40.33% 39.69% 39.35% 39.50% 40.72% 41.04% 42.89% 39.20% 36.16% 40.99% 42.60% 42.96% 41.89% 40.67% 39.21% 39.44% 38.15%
Equity attributable to non-controlling interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total equity 41.30% 42.26% 40.41% 40.93% 41.12% 40.58% 40.33% 39.69% 39.35% 39.50% 40.72% 41.04% 42.89% 39.86% 36.16% 40.99% 42.60% 42.96% 41.89% 40.67% 39.21% 39.44% 38.15%
Total liabilities and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-09-27), 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04).

The capital structure exhibits a consistent distribution between liabilities and equity, with total liabilities generally oscillating between 57% and 64% of the total balance sheet, while total equity remains predominantly within the 36% to 43% range. A period of relative stability in the overall leverage ratio is observed, despite significant internal shifts within specific liability and equity accounts.

Current Liabilities Trends
A gradual upward trend in current liabilities is evident, rising from approximately 23.7% in early 2021 to a range of 27% to 30% by 2026. This increase is primarily driven by a substantial rise in accrued rebates, returns, and promotions, which climbed from 6.9% in April 2021 to a peak of 11.1% in July 2025. Additionally, loans and notes payable demonstrate significant volatility, with periodic spikes—most notably reaching 9.17% in April 2023 and 8.69% in March 2026—suggesting tactical use of short-term financing.
Non-Current Liabilities and Long-Term Debt
Non-current liabilities have experienced a general contraction, decreasing from 38.1% in early 2021 to stabilize around 30% to 32% in subsequent years. Long-term debt remains a significant component, fluctuating between 14% and 20%, with a noticeable increase in leverage during 2024 and 2025. A sharp decline in long-term taxes payable is observed starting in March 2024, where the ratio dropped from approximately 1.68% to consistently low levels below 0.3%.
Equity Composition and Shareholder Activity
A significant reconfiguration of shareholders' equity occurred around the third quarter of 2023. Retained earnings and additional paid-in capital surged from 63.6% in April 2023 to a peak of 91.9% in October 2023, subsequently stabilizing in the mid-80% range. This coincided with a sharp increase in common stock held in treasury, which moved from approximately -23% to -45.6% in October 2023, indicating an aggressive share repurchase program. The treasury stock ratio later moderated to between -38% and -42% through 2026.
Comprehensive Loss and Other Obligations
Accumulated other comprehensive loss remains a persistent negative factor, typically ranging between -6% and -9% of total liabilities and equity. Other liabilities showed an upward trend through 2024, peaking at 9.7% in December 2024 before receding to approximately 6.5% by late 2026. Accrued liabilities followed a downward trajectory, decreasing from a high of 7.7% in 2021 to levels between 3.7% and 6.2% in the later periods.

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