JNJ · 10-Q · 2026Q2 · Full report

Liquidity and Cash Position

JOHNSON & JOHNSON · 2026-07-23 · Importance 42 · Surprise 14 · From source text

Cash and cash equivalents increased to $20.4 billion at June 28, 2026, from $19.7 billion at fiscal year-end 2025. Fiscal six-month operating cash flow was $11.1 billion, while investing activities used $2.2 billion and financing activities used $8.2 billion. Cash, cash equivalents, and marketable securities totaled approximately $20.8 billion, compared with approximately $49.0 billion of notes payable and long-term debt, producing net debt of $28.2 billion. In June 2026, the Company secured a new $12.5 billion 364-day credit facility expiring June 23, 2027.

Key facts

• As of June 28, 2026, the Company had cash, cash equivalents and marketable securities of approximately $20.8 billion and had approximately $49.0 billion of notes payable and long-term debt for a net debt position of $28.2 billion compared to prior year fiscal second quarter net debt of $31.9 billion. source
• In June 2026, the Company secured a new 364-day Credit Facility of $12.5 billion (expiration on June 23, 2027) which may be used for general corporate purposes including to support commercial paper borrowings. source
• The Company has the ability to issue up to $20 billion in Commercial Paper. source
• The Company’s debt position was $49.0 billion as of June 28, 2026, as compared to $50.8 billion the same period a year ago. source
• Net cash generated from operating activities was $11.1 billion for the period to produce the $20.4 billion cash and cash equivalents balance. source
• The Company’s balance of cash, cash equivalents and current marketable securities was $20.8 billion at the end of the fiscal second quarter of 2026 as compared to $18.9 billion at the end of the fiscal second quarter of 2025. source
• Cash and cash equivalents were $20.4 billion at the end of the fiscal second quarter of 2026 as compared with $19.7 billion at the end of fiscal year 2025, an increase of $0.7 billion. source
• Interest (income) expense in the fiscal six months of 2026 was net expense of $105 million as compared to net income of $80 million in the fiscal six months of 2025. source

Impact estimates