Consolidated Balance Sheets Johnson & Johnson and Subsidiaries At January 2, 2011 and January 3, 2010 (Dollars in Millions Except Share and Per Share Data) (Note 1) 2010 2009 Assets Current assets Cash and cash equivalents (Notes 1 and 2) $ 19,355 15,810 Marketable securities (Notes 1 and 2) 8,303 3,615 Accounts receivable trade, less allowances for doubtful accounts $340 (2009, $333) 9,774 9,646 Inventories (Notes 1 and 3) 5,378 5,180 Deferred taxes on income (Note 8) 2,224 2,793 Prepaid expenses and other receivables 2,273 2,497 Total current assets 47,307 39,541 Property, plant and equipment, net (Notes 1 and 4) 14,553 14,759 Intangible assets, net (Notes 1 and 5) 16,716 16,323 Goodwill (Notes 1 and 5) 15,294 14,862 Deferred taxes on income (Note 8) 5,096 5,507 Other assets 3,942 3,690 Total assets $102,908 94,682 Liabilities and Shareholders’ Equity Current liabilities Loans and notes payable (Note 7) $ 7,617 6,318 Accounts payable 5,623 5,541 Accrued liabilities 4,100 4,625 Accrued rebates, returns and promotions 2,512 2,028 Accrued compensation and employee related obligations 2,642 2,777 Accrued taxes on income 578 442 Total current liabilities 23,072 21,731 Long-term debt (Note 7) 9,156 8,223 Deferred taxes on income (Note 8) 1,447 1,424 Employee related obligations (Notes 9 and 10) 6,087 6,769 Other liabilities 6,567 5,947 Total liabilities 46,329 44,094 Shareholders’ equity Preferred stock — without par value (authorized and unissued 2,000,000 shares) — — Common stock — par value $1.00 per share (Note 12) (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) 3,120 3,120 Accumulated other comprehensive income (Note 13) (3,531) (3,058) Retained earnings 77,773 70,306 77,362 70,368 Less: common stock held in treasury, at cost (Note 12) (381,746,000 shares and 365,522,000 shares) 20,783 19,780 Total shareholders’ equity 56,579 50,588 Total liabilities and shareholders’ equity $102,908 94,682 41 C ONSOLIDATED FINANCIAL STATEMENTS See Notes to Consolidated Financial Statements