Adjustments to Financial Statements
Advanced level
Adjustments to Current Assets
Johnson & Johnson, adjusted current assets
US$ in millions
|
|
Dec 29, 2019 |
Dec 30, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Current assets |
45,274 | 46,033 | 43,088 | 65,032 | 60,210 |
|
Adjustments |
|
|
Add: Allowances for doubtful accounts |
226 | 248 | 291 | 252 | 268 |
|
After Adjustment |
|
|
Adjusted current assets |
45,500 |
46,281 |
43,379 |
65,284 |
60,478 |
Based on:
10-K (filing date: 2020-02-18),
10-K (filing date: 2019-02-20),
10-K (filing date: 2018-02-21),
10-K (filing date: 2017-02-27),
10-K (filing date: 2016-02-24).
Adjustments to Total Assets
Johnson & Johnson, adjusted total assets
US$ in millions
|
|
Dec 29, 2019 |
Dec 30, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Total assets |
157,728 | 152,954 | 157,303 | 141,208 | 133,411 |
|
Adjustments |
|
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
— | 814 | 766 | 747 | 737 |
|
|
Add: Allowances for doubtful accounts |
226 | 248 | 291 | 252 | 268 |
|
|
Less: Deferred tax assets2 |
7,819 | 7,640 | 7,105 | 6,148 | 5,490 |
|
After Adjustment |
|
|
Adjusted total assets |
150,135 |
146,376 |
151,255 |
136,059 |
128,926 |
Based on:
10-K (filing date: 2020-02-18),
10-K (filing date: 2019-02-20),
10-K (filing date: 2018-02-21),
10-K (filing date: 2017-02-27),
10-K (filing date: 2016-02-24).
Adjustments to Total Liabilities
Johnson & Johnson, adjusted total liabilities
US$ in millions
|
|
Dec 29, 2019 |
Dec 30, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Total liabilities |
98,257 | 93,202 | 97,143 | 70,790 | 62,261 |
|
Adjustments |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 814 | 766 | 747 | 737 |
|
|
Less: Deferred tax assets liabilities2 |
5,958 | 7,506 | 8,368 | 2,910 | 2,562 |
|
|
Less: Restructuring reserve |
180 | 242 | 267 | 381 | 501 |
|
After Adjustment |
|
|
Adjusted total liabilities |
92,119 |
86,268 |
89,274 |
68,246 |
59,935 |
Based on:
10-K (filing date: 2020-02-18),
10-K (filing date: 2019-02-20),
10-K (filing date: 2018-02-21),
10-K (filing date: 2017-02-27),
10-K (filing date: 2016-02-24).
Adjustments to Stockholders’ Equity
Johnson & Johnson, adjusted shareholders’ equity
US$ in millions
|
|
Dec 29, 2019 |
Dec 30, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Shareholders’ equity |
59,471 | 59,752 | 60,160 | 70,418 | 71,150 |
|
Adjustments |
|
|
Less: Deferred income taxes1 |
1,861 | 134 | (1,264) | 3,238 | 2,928 |
|
|
Add: Allowances for doubtful accounts |
226 | 248 | 291 | 252 | 268 |
|
|
Add: Restructuring reserve |
180 | 242 | 267 | 381 | 501 |
|
After Adjustment |
|
|
Adjusted shareholders’ equity |
58,016 |
60,108 |
61,982 |
67,813 |
68,991 |
Based on:
10-K (filing date: 2020-02-18),
10-K (filing date: 2019-02-20),
10-K (filing date: 2018-02-21),
10-K (filing date: 2017-02-27),
10-K (filing date: 2016-02-24).
Adjustments to Capitalization Table
Johnson & Johnson, adjusted capitalization table
US$ in millions
|
|
Dec 29, 2019 |
Dec 30, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Loans and notes payable |
1,202 | 2,796 | 3,906 | 4,684 | 7,004 |
|
|
Long-term debt, excluding current portion |
26,494 | 27,684 | 30,675 | 22,442 | 12,857 |
|
|
Total reported debt |
27,696 |
30,480 |
34,581 |
27,126 |
19,861 |
|
|
Shareholders’ equity |
59,471 | 59,752 | 60,160 | 70,418 | 71,150 |
|
|
Total reported capital |
87,167 |
90,232 |
94,741 |
97,544 |
91,011 |
|
Adjustments to Debt |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 814 | 766 | 747 | 737 |
|
|
Add: Current operating lease liabilities2 |
269 | — | — | — | — |
|
|
Add: Non-current operating lease liabilities3 |
716 | — | — | — | — |
|
|
Adjusted total debt |
28,681 |
31,294 |
35,347 |
27,873 |
20,598 |
|
Adjustments to Equity |
|
|
Less: Deferred income taxes4 |
1,861 | 134 | (1,264) | 3,238 | 2,928 |
|
|
Add: Allowances for doubtful accounts |
226 | 248 | 291 | 252 | 268 |
|
|
Add: Restructuring reserve |
180 | 242 | 267 | 381 | 501 |
|
|
Adjusted shareholders’ equity |
58,016 |
60,108 |
61,982 |
67,813 |
68,991 |
|
After Adjustment |
|
|
Adjusted total capital |
86,697 |
91,402 |
97,329 |
95,686 |
89,589 |
Based on:
10-K (filing date: 2020-02-18),
10-K (filing date: 2019-02-20),
10-K (filing date: 2018-02-21),
10-K (filing date: 2017-02-27),
10-K (filing date: 2016-02-24).
Adjustments to Reported Income
Johnson & Johnson, adjusted net earnings
US$ in millions
|
12 months ended: |
Dec 29, 2019 |
Dec 30, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Net earnings |
15,119 | 15,297 | 1,300 | 16,540 | 15,409 |
|
Adjustments |
|
|
Add: Deferred income tax expense (benefit)1 |
(2,476) | (1,016) | 2,406 | (341) | (270) |
|
|
Add: Increase (decrease) in allowances for doubtful accounts |
(22) | (43) | 39 | (16) | (7) |
|
|
Add: Increase (decrease) in restructuring reserve |
(62) | (25) | (114) | (120) | 501 |
|
|
Add: Other comprehensive income (loss) |
(669) | (1,791) | 1,702 | (1,736) | (2,443) |
|
After Adjustment |
|
|
Adjusted net earnings |
11,890 |
12,422 |
5,333 |
14,327 |
13,190 |
Based on:
10-K (filing date: 2020-02-18),
10-K (filing date: 2019-02-20),
10-K (filing date: 2018-02-21),
10-K (filing date: 2017-02-27),
10-K (filing date: 2016-02-24).
