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JOHNSON & JOHNSON Annual Report (Amendment), Year Ended Dec 30, 2001

Filing Date
Filed June 27, 2002
Period End
December 30, 2001
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 27, 2002. Cited figures are marked; the original filing is the authoritative source.

This filing is an amendment (Form 10-K/A) to Johnson & Johnson's annual report for the fiscal year ended December 30, 2001, filed in June 2002.

Its primary purpose is to add the Form 11-K annual reports for the company's employee savings and retirement plans (the Johnson & Johnson Savings Plan, Retirement Savings Plan, Savings Plan for Union Represented Employees, Centocor Qualified Savings and Retirement Plan, and ALZA Corporation Tax Deferral Investment Plan). The filing does not contain the company's core financial statements, which were incorporated by reference from the 2001 annual report to shareowners, so it offers limited insight into J&J's operating results, revenue, or earnings. It reports that about 3.05 billion common shares were outstanding as of February 26, 2002, with a non-affiliate market value of roughly $181 billiona.

The most material content for investors is the retirement plan data, which shows how heavily employee savings are concentrated in J&J stock. The largest plan, the Johnson & Johnson Savings Plan, held net assets of about $4.37 billionb at year-end 2001, up from $4.00 billion, and its J&J Stock Fund alone was about $1.66 billion. The Savings Plan also carried a $100 million ESOP loan from J&J, with about $31.6 million outstanding.

The ALZA plan held about $57 millionc of J&J common stock following the June 2001 merger, in which ALZA holders received 0.98 J&J shares per ALZA share. The filing also notes the October 2001 merger of the Centocor plan into the J&J Savings Plan and the two-for-one stock split effective June 12, 2001.

For investors, the key takeaway is that this amendment is largely administrative. The plan disclosures are useful for understanding employee holdings of J&J stock and plan consolidation activity, but investors seeking performance or valuation data would need to consult the original 10-K and the 2001 annual report to shareowners.

02—Key points

Key Highlights

  1. Filing type: 10-K/A amendment for fiscal year ended December 30, 2001, adding Form 11-K employee plan reports rather than new corporate financials.
  2. Shares outstanding: about 3,047,147,480 common shares as of February 26, 2002, with non-affiliate market value of roughly $181 billion.
  3. Johnson & Johnson Savings Plan net assets rose to about $4.37 billion at December 31, 2001, from about $4.00 billion a year earlier.
  4. The J&J Stock Fund was the largest holding in the Savings Plan at about $1.66 billion, and the ESOP held about $600 million in J&J stock.
  5. The Savings Plan carried a $100 million ESOP loan from J&J at a 9% interest rate, with about $31.6 million outstanding and final payments due through February 2005.
  6. The ALZA Tax Deferral Plan held about $57 million of J&J common stock after the June 2001 ALZA merger, in which each ALZA share converted to 0.98 J&J shares.
  7. Centocor's qualified savings plan was merged into the J&J Savings Plan in October 2001, and its assets were transferred in full.

03—Questions

Frequently Asked Questions

  1. Does this filing contain Johnson & Johnson's audited consolidated financial statements?

    No. The corporate financial statements are incorporated by reference from Exhibit 13 (the 2001 annual report to shareowners), which is listed as incorporated by reference to the original 10-K rather than included in this amendment. This filing mainly adds Form 11-K plan reports.

  2. Why was this 10-K/A filed?

    The amendment attaches Form 11-K annual reports for the company's employee savings and retirement plans, which are required under Section 15(d) of the Exchange Act. The filing covers the Savings Plan, Retirement Savings Plan (Puerto Rico), Union Represented Employees plan, Centocor plan, and ALZA plan.

  3. How much employee retirement money is invested in J&J stock?

    A substantial amount. The J&J Stock Fund held about $1.66 billion in the Savings Plan, plus about $569 million of unallocated ESOP shares, and about $95 million in the Puerto Rico plan. These holdings are concentrated in a single stock, which creates employee exposure to company-specific risk.

  4. What were the main changes in the retirement plans during 2001?

    Several plans were consolidated. The Centocor plan merged into the J&J Savings Plan in October 2001, and the Horizon Health and Indigo Medical plans were transferred in December 2001. The ALZA plan continues through at least December 31, 2002, with no employer contributions expected after that date and its future undetermined.

04—Continue

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