<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eightkdecember.txt
<DESCRIPTION>FORM 8K
<TEXT>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 30,
2002
JOHNSON & JOHNSON
(Exact name of registrant as specified in its charter)
New Jersey 1-3215 22-1024240
(State or other Commission (I.R.S. Employer
jurisdiction File Number) Identification
No.)
of incorporation)
One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933
(Address of principal executive offices) (zip code)
Registrant's telephone number including area code: (732) 524-0400
Item 5. Other Events.
Johnson & Johnson has funded the Company's U.S. pension plan for
$750 million through contributions of cash during the month of
December 2002. With this funding, the value of the U.S. pension
plan assets is greater than the projected Accumulated Benefit
Obligation (ABO). The ABO is an accounting estimate of the
present value of future pension payments earned to date by our
existing employees and retirees.
With this contribution, the U.S. pension plan is fully funded as
defined by U.S. generally accepted accounting principles,
Financial Accounting Standard No. 87, "Employers' Accounting for
Pensions."
The Company was not required to fund the U.S. pension plan at
this time based on ERISA Standards. The Company's objective in
funding its domestic pension plans is to provide funds sufficient
to provide for all accrued benefits.
Johnson & Johnson's international subsidiaries have pension plans
under which funds are deposited with trustees, annuities are
purchased under group contracts or reserves are provided.
International pension plans are and will be funded where
appropriate. In certain countries, the funding of pension plans
is not a common practice as funding provides no economic benefit
and is not required.
Johnson & Johnson generated $8.9 billion of operating cash flow
in 2001 and $21.7 billion over the past three years. The
pension funding will not affect earnings estimates or have an
effect on the Company's debt ratings.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit No. Description of Exhibit
NONE
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
JOHNSON & JOHNSON
Date: December 30, 2002 By: /s/ Stephen J. Cosgrove
Stephen J. Cosgrove
Chief Accounting Officer
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