strategic-management

EXHIBIT 8 J&J Balance Sheets 2006–2008—continued
CASE 21 • JOHNSON & JOHNSON — 2009 211
Assets 2008 2007 2006
Accrued rebates, returns and promotions N/A 2,318 2,189
Accrued salaries, wages and commissions 1,430 1,512 1,391
Accrued taxes on income N/A 223 724
Total current liabilities 20,852 19,837 19,161
Long-term debt 8,120 7,074 2,014
Deferred taxes on income 1,432 1,493 1,319
Employee related obligations 7,790 5,402 5,584
Other liabilities 4,210 3,829 3,160
Total liabilities 42,401 37,635 31,238
Shareholders’ equity
Preferred stock—without par value (authorized
and unissued 2,000,000 shares) — — —
Common stock—par value $1.00 per share
(authorized 4,320,000,000 shares;
issued 3,119,843,000 shares) 3,120 3,120 3,120
Accumulated other comprehensive income N/A -693 -2,118
Retained earnings 63,379 55,280 49,290
N/A 57,707 50,292
Less: common stock held in treasury, at cost
(279,620,000 shares and 226,612,000 shares) -19,033 -14,388 -10,974
Total shareholders’ equity 42,511 43,319 39,318
Total liabilities and shareholders’ equity $ 84,912 80,954 70,556
Source: Johnson & Johnson, Annual Report; Marketwatch.com; aol.finance.com.
Endnotes
1. http://www.jnj.com/wps/wcm/connect/7bb2d7004ae70eb9bc5cfc0f0a50cff8/
global-diversity-and-inclusion.pdf?MOD=AJPERES.
2. Johnson & Johnson, Annual Report (2008).
3. Johnson & Johnson, Annual Report (2008).
4. Johnson & Johnson, Annual Report (2008).
5. Johnson & Johnson, Annual Report (2008).
6. www.mergentonline.com.
7. http://www.hoovers.com/merck/—ID__10986—/free-co-factsheet.xhtml.
8. http://www.hoovers.com/novartis/—ID__52941—/free-co-factsheet.xhtml.
9. www.mergentonline.com.
10. http://www.hoovers.com/procter-&-gamble/—ID__11211—/free-cofactsheet.xhtml.
11. Johnson & Johnson, Annual Report (2008).
12. Johnson & Johnson, Annual Report (2008).