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JOHNSON & JOHNSON Annual Report (Amendment), Year Ended Jan 1, 1995

Filing Date
Filed June 28, 1996
Period End
January 1, 1995
Security
JNJ
In the record · 2016–202610-K1110-Q338-K134

JNJ filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 134 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jun ’17Jun ’17
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Oct ’21Oct ’21
  4. Leadership change8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 10-K/A filed June 28, 1996. Cited figures are marked; the original filing is the authoritative source.

This filing is a Form 10-K/A amendment for Johnson & Johnson's fiscal year ended December 31, 1995, and it does not contain the company's core financial statements.

Those are incorporated by reference from the 1995 annual report to stockholders (Exhibit 13), which was previously filed. Instead, this amendment supplies only the Form 11-K financial statements for three employee savings plans: the J&J Savings Plan, the J&J Retirement Savings Plan (Puerto Rico), and the Savings Plan for Union Represented Employees. Investors should therefore treat this document as a supplemental employee-benefit disclosure rather than a source of operating results, earnings, or balance sheet data for the parent company.

The most material figure in the filing is the J&J Savings Plan, which held net plan equity of about $1.59 billiona at year-end 1995, up from $1.17 billion in 1994. Roughly $440 million of its participant-directed assets sat in the J&J Stock Fund, and the ESOP Trust held another $261 million in company stock. The plan's J&J stock holdings, roughly 8.1 million shares combined, represent a meaningful source of employee ownership and a modest, supportive demand base for the shares.

The company's aggregate market value of non-affiliate common equity was approximately $58.9 billionb as of February 29, 1996, with 666.3 million shares outstanding. The filing also notes that the ESOP's $100 million loan from J&J, at 9% interest, is repaid through 2005 using employer contributions and dividends, and that the plans' accountants (Coopers & Lybrand) issued unqualified opinions.

Nothing here signals a governance concern, restatement, or material risk to the parent. Investors seeking J&J's 1995 revenue, profit, segment performance, or outlook should consult the stockholder annual report rather than this amendment.

02—Key points

Key Highlights

  1. This is a 10-K/A amendment; the parent company's financial statements are incorporated by reference from the 1995 annual report to stockholders, not included here.
  2. J&J Savings Plan net plan equity rose to approximately $1.59 billion at December 31, 1995, from $1.17 billion in 1994, a gain of roughly 36%.
  3. The J&J Stock Fund held about $440 million at year-end 1995 (book cost $226 million), and the ESOP Trust held about $261 million in J&J common stock, reflecting substantial employee ownership.
  4. Market value of non-affiliate common stock was approximately $58.9 billion as of February 29, 1996, with 666,316,374 shares outstanding.
  5. The ESOP's $100 million acquisition loan from J&J carries a 9% rate and is scheduled to be repaid through February 2005, with a 1996 principal payment of about $6.2 million.
  6. Participant-directed plan contributions were substantial, with employee contributions of about $83.8 million and employer contributions of about $36.9 million across the main Savings Plan in 1995.
  7. All three plans' auditors (Coopers & Lybrand L.L.P.) issued unqualified opinions, and the filing discloses no material adverse findings.

03—Questions

Frequently Asked Questions

  1. Does this filing contain Johnson & Johnson's income statement or balance sheet?

    No. This 10-K/A amendment incorporates the company's financial statements by reference from the 1995 annual report to stockholders (Exhibit 13), which was filed previously. This document only includes Form 11-K financial statements for the company's employee savings plans.

  2. How large are J&J's employee savings plans?

    The main J&J Savings Plan had total plan equity of about $1.59 billion at year-end 1995, up from about $1.17 billion a year earlier. The Retirement Savings Plan for Puerto Rico had about $34.6 million, and the Savings Plan for Union Represented Employees had about $7.9 million.

  3. How much J&J stock do the employee plans hold?

    The J&J Stock Fund held roughly 5.1 million shares valued at about $439 million, and the ESOP Trust held about 3.0 million shares valued at about $257 million at fair value as of December 31, 1995. Plan-level holdings across all three plans total well over $700 million at market value.

  4. What is the ESOP loan arrangement?

    In 1991 the plan borrowed $100 million from Johnson & Johnson at 9% interest to buy 3.1 million J&J shares on the open market. The loan is repaid through February 2005 using employer contributions and dividends on the shares. Remaining principal at year-end 1995 was about $72.7 million.

  5. What is the market value of J&J equity held by non-affiliates?

    The aggregate market value of voting common stock held by non-affiliates was approximately $58.9 billion as of February 29, 1996, based on 666,316,374 shares outstanding on that date.

04—Continue

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