Stock Analysis on Net
Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Johnson & Johnson, consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended: 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 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016
Net earnings 6,197  1,738  3,554  3,626  5,796  4,010  1,753  5,607  3,749  3,042  3,934  3,954  4,367  (10,713) 3,764  3,827  4,422  3,814  4,272  3,997  4,457 
Depreciation and amortization of property and intangibles 1,894  1,940  1,818  1,726  1,747  1,816  1,727  1,705  1,761  1,735  1,731  1,717  1,746  1,869  1,711  1,150  912  1,055  908  900  891 
Stock based compensation 307  160  256  326  263  160  245  314  258  156  242  312  268  204  236  293  229  174  225  274  205 
Asset write-downs 14  35  165  22  11  77  30  76  913  32  1,199  27  —  486  39  233  37  96  —  105  82 
Contingent consideration reversal —  —  (165) —  (983) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net gain on sale of assets/businesses (580) (51) —  (60) —  (29) (46) (2,007) (72) (774) —  (443) —  (780) (474) (53) —  (287) (91) (185) — 
Deferred tax provision (730) (903) 190  (482) 54  (350) (1,432) (332) (362) (1,069) 338  (329) 44  2,813  (335) (45) (27) (556) 100  (278) 393 
Credit losses and accounts receivable allowances (13) (11) (43) 95  22  (5) (16) (3) (28) 13  (20) (42) 35  37  (13) (1) (6) (3) (1)
(Increase) decrease in accounts receivable (1,604) 1,214  80  292  (812) 376  (329) (493) 157  (145) (51) (510) (479) (333) 176  (380) (96) (329) 362  (709) (389)
(Increase) decrease in inventories (695) 519  (147) (478) (159) 147  (1) (54) (369) 133  (286) (169) (322) 774  228  (53) (368) 159  35  (253) (190)
Increase (decrease) in accounts payable and accrued liabilities (2,336) 5,260  2,200  204  (2,523) 1,787  2,717  1,389  (1,833) 3,220  780  1,637  (1,686) 2,386  1,540  829  (2,030) 1,876  (173) 1,025  (2,072)
(Increase) decrease in other current and non-current assets 2,522  (1,721) (935) (1,319) 271  (973) 781  (374) (488) 629  (637) 640  (907) 144  (14) 32  (573) 397  251  172  (802)
Increase (decrease) in other current and non-current liabilities (902) 163  1,410  (500) (329) (618) 2,098  113  (168) (687) (991) (761) 595  9,297  (640) (98) 420  255  (522) (481) (385)
Changes in assets and liabilities, net of effects from acquisitions and divestitures (3,015) 5,435  2,608  (1,801) (3,552) 719  5,266  581  (2,701) 3,150  (1,185) 837  (2,799) 12,268  1,290  330  (2,647) 2,358  (47) (246) (3,838)
Adjustments to reconcile net earnings to cash flows from operating activities (2,123) 6,605  4,829  (174) (2,438) 2,388  5,774  341  (206) 3,202  2,338  2,125  (761) 16,818  2,502  1,945  (1,509) 2,839  1,089  567  (2,268)
Net cash flows from operating activities 4,074  8,343  8,383  3,452  3,358  6,398  7,527  5,948  3,543  6,244  6,272  6,079  3,606  6,105  6,266  5,772  2,913  6,653  5,361  4,564  2,189 
Additions to property, plant and equipment (677) (1,323) (737) (662) (625) (1,260) (745) (837) (656) (1,318) (819) (875) (658) (1,240) (790) (689) (560) (1,093) (737) (757) (639)
Proceeds from the disposal of assets/businesses, net 603  205  13  70  17  162  85  2,765  253  2,308  25  850  20  1,106  601  94  31  394  188  660  25 
Acquisitions, net of cash acquired —  (6,374) —  (10) (939) (248) (216) (3,663) (1,683) (2) (675) (140) (82) (505) (574) (29,220) (4,852) (459) (3,320) (725) (5)
Purchases of investments (5,994) (4,846) (7,692) (6,487) (2,064) (1,236) (1,167) (787) (730) (1,471) (3,204) (403) (548) (355) (571) (677) (4,550) (6,273) (10,166) (7,449) (10,062)
Sales of investments 5,233  5,552  4,168  873  1,544  928  327  637  1,495  3,127  419  402  341  606  191  18,326  8,994  5,343  11,662  9,630  9,145 
Credit support agreements activity, net 751  (1,112) (547) (1,071) 1,743  338  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other, primarily licenses and milestones (101) (5) (24) (235) (257) (28) 71  97  (96) (416) (15) (35) (117) (37) (81) (86) (37) (1)
Net cash used by investing activities (185) (7,903) (4,819) (7,522) (581) (1,344) (1,645) (1,788) (1,417) 2,228  (4,269) (201) (925) (505) (1,180) (12,247) (936) (2,174) (2,372) 1,322  (1,537)
Dividends to shareholders (2,659) (2,658) (2,659) (2,659) (2,505) (2,500) (2,499) (2,522) (2,396) (2,411) (2,415) (2,415) (2,253) (2,256) (2,254) (2,262) (2,171) (2,170) (2,185) (2,197) (2,069)
Repurchase of common stock (1,438) (321) (483) (706) (1,711) (426) (1,628) (2,486) (2,206) (3,808) (471) (145) (1,444) (815) (311) (1,890) (3,342) (2,025) (2,203) (2,362) (2,389)
Proceeds from short-term debt 23  56  618  2,707  10  (109) 133  13  40  13  26  (3,891) 2,125  1,916  719  (38) 31  23  95 
Repayment of short-term debt (475) (2,353) (293) (18) (13) (75) (16) (114) 68  51  (2,484) (394) (756) 15  (195) 1,909  761  (515) (4,172)
Proceeds from long-term debt, net of issuance costs —  7,430  —  —  —  (1) 4,527  —  4,464  53  —  4,516  7,435 
Repayment of long-term debt (1,001) (502) (551) —  (11) (1,815) (3) (3) (1,002) (645) (901) (1) (8) (753) (1,009) (13) (2) (1,270) (17) (922) (14)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 236  192  214  376  332  374  117  369  94  469  318  96  66  208  135  317  402  77  183  419  510 
Credit support agreements activity, net 212  (333) —  —  —  100  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other (24) 275  (80) (77) (412) 315  62  101  (3) 81  (92) (262) 125  (163) —  —  (25) —  (15) —  — 
Net cash used by financing activities (5,125) (5,644) 4,196  (357) (4,315) (4,072) (3,893) (4,534) (5,516) (6,389) (3,477) (2,674) (5,970) (3,537) (2,069) (1,917) (150) (3,464) (3,445) (1,038) (604)
Effect of exchange rate changes on cash and cash equivalents (78) 224  31  71  (237) 74  (116) 16  17  (32) (39) (274) 104  40  106  81  110  (248) 21  (69) 81 
Increase (decrease) in cash and cash equivalents (1,314) (4,980) 7,791  (4,356) (1,775) 1,056  1,873  (358) (3,373) 2,051  (1,513) 2,930  (3,185) 2,103  3,123  (8,311) 1,937  767  (435) 4,779  129 

Based on: 10-Q (filing date: 2021-04-30), 10-K (filing date: 2021-02-22), 10-Q (filing date: 2020-10-23), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-07-29), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-20), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-10).

Cash flow statement item Description The company
Net cash flows from operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Johnson & Johnson’s net cash flows from operating activities decreased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Net cash used by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Johnson & Johnson’s net cash used by investing activities decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.
Net cash used by financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Johnson & Johnson’s net cash used by financing activities decreased from Q3 2020 to Q4 2020 but then slightly increased from Q4 2020 to Q1 2021.