| 4Q | 4Q | % | Annual | Annual | % | ||
| 2012 | 2011 | Increase | 2012 | 2011 | Increase | ||
| mil $s | mil $s | mil $s | mil $s | ||||
| Net Income, as Reported | 2,567 | 218 | 1078% | 10,853 | 9,672 | 12% | |
| Adjustments: | |||||||
| Litigation Loss | 371 | 2,239 | 1,052 | 2,745 | |||
| In Process R&D Charges | 59 | 11 | 743 | 11 | |||
| Synthes Integration/transaction and Currency-related Costs | 306 | 338 | 899 | 477 | |||
| Intangible Asset Write-downs and Other Adjustments | 701 | ||||||
| DePuy Hip Program Charges | 73 | 336 | 97 | 426 | |||
| Restructuring | (13) | 536 | |||||
| Non-GAAP Adjusted Net Income | 3,376 | 3,129 | 8% | 14,345 | 13,867 | 3% | |
From the most recent 2011 Proxy Statement filed with the SEC, below here is the executive compensation information for William Weldon, the Chairman and CEO of Johnson & Johnson for each of the years 2009 through 2011:
| Non-equity | Increase | ||||||
| Incentive | In | All | |||||
| Stock | Option | Plan | Pension | Other | Total | ||
| Year | Salary | Awards | Awards | Compensation | Value | Compensation | Compensation |
| 000s | 000s | 000s | 000s | 000s | 000s | 000s | |
| 2011 | 1,907 | 2,609 | 4,189 | 14,336 | 3,435 | 321 | 26,797 |
| 2010 | 1,851 | 2,774 | 4,713 | 12,043 | 7,085 | 254 | 28,720 |
| 2009 | 1,803 | 2,763 | 5,238 | 12,831 | 7,983 | 197 | 30,815 |
| 3 Yr Total | 5,561 | 8,146 | 14,140 | 39,210 | 18,503 | 772 | 86,332 |
When you review the above compensation numbers, yeah that's $86.3 mil of Total Compensation for Johnson & Johnson's CEO for the three years from 2009 and 2011, do you think that the US has a problem with economic fairness between the very wealthy and everyone else?
And from JNJ's most recent income tax footnote, it received total foreign tax breaks from its international and Puerto Rican operations for the three years from 2009 to 2011 of $5,947 mil, yeah that's more than $5.9 bil.
It's easy to see why the country's largest companies like JNJ want the US Debt to be reduced solely by cost cuts rather than by a combination of both costs cuts and additional US Tax Revenues.
And the Business Roundtable, which speaks for the largest US Corps, is now lobbying very heavily to delay first eligibility for both Social Security and Medicare Benefits to Age 70. Give me a break!
