secwatch.observer — SEC 8-K summary
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Issuer:     JOHNSON & JOHNSON (JNJ)
CIK:        0000200406
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000200406-24-000048
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JNJ proposes $6.475B talc settlement plan; Q1 GAAP EPS cut to $1.34
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- Proposed plan pays $6.475B present value ($8.4B nominal over 25 years) to resolve all ovarian cancer cosmetic talc claims.
- Incremental $2.7B charge; total talc reserve now ~$11B present value ($13.7B nominal) as of Q1 2024.
- Previously reported GAAP net earnings reduced from $5.4B to $3.3B; EPS from $2.20 to $1.34 for Q1 2024.
- Q1 2024 adjusted EPS of $2.71 unchanged; sales $21.38B (+2.3% YoY).
- No impact to mesothelioma, state consumer claims; plan excludes those categories.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/200406/000020040624000048/0000200406-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/200406/000020040624000048/jnj-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000200406-24-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer