ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

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ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

COMPANY BACKGROUND

Johnson & Johnson was founded in 1886 by the Johnson brothers: James Wood, Robert Wood, and Edward Mead Johnson, in New Brunswick, New Jersey.

The corporation is a multifaceted Holding Company with three major segments: Consumer products, Medical products, & Pharmaceuticals. Like all things, Johnson & Johnson began small.

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ACCT 301 ACCT301 ACCT/301

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ACCT 220 - AASP201TeachingGuide (1190 Documents), ACCT 220 & 221 - ACCT (745 Documents), ACCT 221 - ACCT221TeachingGuide (1059 Documents), ACCT 301 - (479 Documents), ACCT 301 ACCT301 ACCT/301 SEC Report - Johnson & Johnson, ACCT 310 - ACCT311TeachingGuide (510 Documents), ACCT 311 - INTERMEDIATE ACCOUNTING (352 Documents), ACCT 321 - COST ACCOUNTING (246 Documents), ACCT 323 - ACCT323TeachingGuide (246 Documents), ACCT 326 - ACCT326TeachingGuide (208 Documents), ACCT 422 - Auditing (268 Documents), ACCT 613 - Federal Income Taxation (204 Documents), University of Maryland University College

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ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

COMPANY BACKGROUND

Johnson & Johnson was founded in 1886 by the Johnson brothers: James Wood, Robert Wood, and Edward Mead Johnson, in New Brunswick, New Jersey.

The corporation is a multifaceted Holding Company with three major segments: Consumer products, Medical products, & Pharmaceuticals. Like all things, Johnson & Johnson began small.

Its first major call to mobilize and help the world in times of crisis, was just 12 years after its birth. In 1898 during the Spanish-American war, the U.S. Army called Johnson & Johnson to help them produce first aid supplies for wounded soldiers, (Shelly, 2016).

Johnson & Johnson went public on 24 September 1944 on the New York Stock Exchange with the symbol of JNJ. The initial stock price per share was $37.50 (to help one imagine what $37.50was back in 1944, one could buy 250 gallons of gas with that amount).

Some interesting facts about Johnson & Johnson’s Initial Public Offering (IPO): 1,200+ number of products were being sold; such as women products, diapers, cotton gauzes, etc; 31 operating companies (in countries such as Brazil, Australia, and South Africa); $93.6m in sales; and $9.6m in profits (Johnson, 2017).

DISCUSSION ON INCOME STATEMENT

Johnson & Johnson currently have over $70 billion in sales. To be exact, their 2015 income statement reported $70.05b in sales, with a gross profit of $48.5b. Their Net income or profits left over after all expenses were paid, were $15.4b. There were over 150,000 recorded holders of Common Stock of JNJ as of February 19, 2016.

The final market price for JNJ Common Stock during 2015 and 2014 were: $102.72 and $105.06 respectively. Many multinational corporations like Johnson & Johnson work hard to keep sales and net income up while keeping costs low.

One of these costs includes their tax bill at the end of each year. In the U.S.A. the corporate tax rate is generally 35% and the only way to effectively avoid paying such a high tax rate as a corporation is to find alternative ways to cut costs. Johnson & Johnson’s effective tax rate for 2015 and 2014 were 19.7% and 20.6% respectively.

As you can see, they are striving to keep their tax bill at a low cost. In their Notes to the Financial Statements, they discussed a ‘Restructuring Program.’

This restructuring program would focus on the medical devices segment and would be expected to save roughly $800m to $1.0b in pre-tax dollars by the end of 2018 (which included a $200m savings in 2016).

Here’s what Johnson & Johnson says that this restructuring program savings will provide for them:The savings will provide the Company with added flexibility and resources to fundinvestment in new growth opportunities and innovative solutions for customers and patients

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

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ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

Description

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

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ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

Description

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

ACCT 301 ACCT301 ACCT/301 SEC Report – Johnson & Johnson

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