Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Johnson & Johnson, consolidated income statement (quarterly data)

US$ in millions

3 months ended:	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	Dec 31, 2020	Sep 27, 2020	Jun 28, 2020	Mar 29, 2020	Dec 29, 2019	Sep 29, 2019	Jun 30, 2019	Mar 31, 2019
Sales to customers	13,532)	21,351)	25,530)	24,746)	23,706)	23,791)	24,020)	23,426)	24,804)	23,338)	23,312)	22,321)	22,475)	21,082)	18,336)	20,691)	20,747)	20,729)	20,562)	20,021)
Cost of products sold	(3,340)	(6,606)	(8,212)	(8,395)	(7,765)	(7,807)	(7,919)	(7,598)	(7,955)	(7,250)	(7,587)	(7,063)	(7,814)	(6,972)	(6,579)	(7,062)	(7,134)	(6,867)	(6,940)	(6,615)
Gross profit	10,192)	14,745)	17,318)	16,351)	15,941)	15,984)	16,101)	15,828)	16,849)	16,088)	15,725)	15,258)	14,661)	14,110)	11,757)	13,629)	13,613)	13,862)	13,622)	13,406)
Selling, marketing and administrative expenses	(3,309)	(5,400)	(6,665)	(6,138)	(6,512)	(6,089)	(6,226)	(5,938)	(7,154)	(6,000)	(6,073)	(5,432)	(6,457)	(5,431)	(4,993)	(5,203)	(6,039)	(5,374)	(5,546)	(5,219)
Research and development expense	(4,246)	(3,447)	(3,829)	(3,563)	(3,841)	(3,597)	(3,703)	(3,462)	(4,720)	(3,422)	(3,394)	(3,178)	(4,032)	(2,840)	(2,707)	(2,580)	(3,232)	(2,599)	(2,666)	(2,858)
In-process research and development impairments	(58)	(206)	—)	(49)	(173)	—)	—)	(610)	—)	(900)	—)	—)	(37)	(138)	(6)	—)	—)	—)	—)	(890)
Restructuring	(56)	(158)	(145)	(130)	(84)	(82)	(85)	(70)	(83)	(60)	(56)	(53)	(60)	(68)	(61)	(58)	(104)	(69)	(57)	(36)
Operating earnings	2,523)	5,534)	6,679)	6,471)	5,331)	6,216)	6,087)	5,748)	4,892)	5,706)	6,202)	6,595)	4,075)	5,633)	3,990)	5,788)	4,238)	5,820)	5,353)	4,403)
Interest income	283)	374)	369)	235)	254)	150)	64)	22)	13)	13)	12)	15)	13)	12)	19)	67)	81)	89)	88)	99)
Interest expense, net of portion capitalized	(19)	(192)	(346)	(215)	(177)	(51)	(38)	(10)	(60)	(20)	(40)	(63)	(87)	(44)	(45)	(25)	(85)	(48)	(83)	(102)
Other income (expense), net	1,033)	(499)	60)	(7,228)	(1,207)	(493)	(273)	102)	(9)	(1,850)	488)	882)	(2,354)	(1,200)	(24)	679)	(16)	(4,214)	1,683)	22)
Earnings (loss) before (provision for) benefit from taxes on income	3,820)	5,217)	6,762)	(737)	4,201)	5,822)	5,840)	5,862)	4,836)	3,849)	6,662)	7,429)	1,647)	4,401)	3,940)	6,509)	4,218)	1,647)	7,041)	4,422)
(Provision for) benefit from taxes on income	121)	(908)	(1,618)	669)	(681)	(1,364)	(1,026)	(713)	(100)	(182)	(384)	(1,232)	91)	(847)	(314)	(713)	(208)	106)	(1,434)	(673)
Net earnings (loss) from continuing operations	3,941)	4,309)	5,144)	(68)	3,520)	4,458)	4,814)	5,149)	4,736)	3,667)	6,278)	6,197)	1,738)	3,554)	3,626)	5,796)	4,010)	1,753)	5,607)	3,749)
Net earnings from discontinued operations, net of tax	108)	21,719)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net earnings (loss)	4,049)	26,028)	5,144)	(68)	3,520)	4,458)	4,814)	5,149)	4,736)	3,667)	6,278)	6,197)	1,738)	3,554)	3,626)	5,796)	4,010)	1,753)	5,607)	3,749)

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Income statement item	Description	The company
Sales to customers	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Johnson & Johnson sales to customers decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Operating earnings	The net result for the period of deducting operating expenses from operating revenues.	Johnson & Johnson operating earnings decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Earnings (loss) before (provision for) benefit from taxes on income	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Johnson & Johnson earnings (loss) before (provision for) benefit from taxes on income decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net earnings (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Johnson & Johnson net earnings (loss) increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.

Johnson & Johnson (NYSE:JNJ)

Income StatementQuarterly Data

Income Statement
Quarterly Data