The company said worldwide sales in 2023 rose 6.5% to $85.2 billion. Innovative Medicine sales were $54.8 billion, and MedTech sales were $30.4 billion.

1. 01

   The company said worldwide sales in 2023 rose 6.5% to $85.2 billion. Innovative Medicine sales were $54.8 billion, and MedTech sales were $30.4 billion.

2. 02

   The company said consolidated earnings before provision for taxes on income were $15.1 billion in 2023, or 17.7% of sales, compared with $19.4 billion (24.2%) in 2022. Other (income) expense, net included about $7.0 billion in talc-related charges.

3. 03

   The company said it sold additional Kenvue shares, equal to 80.1%, through an exchange offer on August 23, 2023, and recognized a gain of $21.0 billion in net earnings from discontinued operations. It said its remaining Kenvue stake is 9.5%.

4. 04

   The company said cash flow from operating activities was $22.8 billion in 2023, cash and cash equivalents at year-end were $21.9 billion, and total debt was $29.3 billion (compared with $39.6 billion a year earlier). Net debt was $6.4 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$85.2B

Net income

$35.2B

EPS

$13.72

Gross profit

$58.6B

Operating cash flow

$22.8B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.