Johnson & Johnson reported unaudited consolidated earnings results for the fourth quarter and full year ended of December 31, 2016. For the quarter, the company reported sales to customers of $18,106 million compared to $17,811 million a year ago. Earnings before provision for taxes on income was $4,324 million compared to $3,758 million a year ago. Net earnings were $3,814 million compared to $3,215 million a year ago. Diluted net earnings per share were $1.38 compared to $1.15 a year ago. Adjusted earnings before provision for taxes on income was $5,103 million compared to $4,913 million a year ago. Adjusted net earnings were $4,361 million compared to $4,043 million a year ago. Adjusted diluted net earnings per share were $1.58 compared to $1.44 a year ago.

For the full year, the company reported sales to customers of $71,890 million compared to $70,074 million a year ago. Earnings before provision for taxes on income was $19,803 million compared to $19,196 million a year ago. Net earnings were $16,540 million compared to $15,409 million a year ago. Diluted net earnings per share were $5.93 compared to $5.48 a year ago. Adjusted earnings before provision for taxes on income was $22,759 million compared to $22,003 million a year ago. Adjusted net earnings were $18,764 million compared to $17,445 million a year ago. Adjusted diluted net earnings per share were $6.73 compared to $6.20 a year ago.

The company announced its 2017 full-year guidance for sales of $74.1 billion to $74.8 billion reflecting expected operational growth in the range of 4.0% to 5.0%. Excluding the impact of acquisitions and divestitures, operational sales growth is expected to be in the range of 3.0% to 3.5%. Additionally, the company announced adjusted earnings guidance for full-year 2017 of $6.93 to $7.08 per share reflecting expected operational growth in the range of 4.8% to 7.0%. Adjusted earnings guidance excludes the impact of after-tax intangible amortization expense and special items. The company expects transaction currency impacts that negatively impact their gross margin by approximately 20 to 30 basis points in 2017 as compared to 2016. Effective tax rate for 2017 excluding special items expected to be approximately 19% to 20%. Net interest expense expected to be $500 million to $600 million.