Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Johnson & Johnson (NYSE:JNJ)

Adjustments to Financial Statements

Advanced level


Adjustments to Current Assets

Johnson & Johnson, adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
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

Microsoft Excel LibreOffice Calc
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).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets. See details »


Adjustments to Total Liabilities

Johnson & Johnson, adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax assets liabilities. See details »


Adjustments to Stockholders’ Equity

Johnson & Johnson, adjusted shareholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
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).

1 Deferred income taxes. See details »


Adjustments to Capitalization Table

Johnson & Johnson, adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities. See details »

3 Non-current operating lease liabilities. See details »

4 Deferred income taxes. See details »


Adjustments to Reported Income

Johnson & Johnson, adjusted net earnings

US$ in millions

Microsoft Excel LibreOffice Calc
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).

1 Deferred income tax expense (benefit). See details »