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7/29/2019 Mead Johnson Nutrition 2012 Annual Report
1/16
T B StsMead JohnSon nuTriTion 2012 annual reporT
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
2/16
our visionTo Be The worldS leading nuTriTion coMpany or BaBieS and children
our mission
To nouriSh The worldS children or The BeST STarT in lie
our values
paSSionaTe purSuiT o conTinuouS iMproveMenT in all we do
uncoMproMiSing coMMiTMenT To ScienTiic rigor and producT qualiTy
unwavering inTegriTy in every relaTionShip we have and acTion we Take
an environMenT o openneSS, reSpecT and high perorMance
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
3/16
CHALLENGES AND SUCCESSES
w t ts
sts, t t m
sss nt am e,
s s t s t st mts.
a mbt ts t t
t smt ts
mtt t t s
c. i t ut Stts,
m ts t
m t t 2011 t
mt s 2012, st
mt t st ts
b u.S. mt s. T u.S.
tm s t m t
mst m t stt bt t smt.
h, m t stt ts
ts st ms
b t b mts as
lt am, 12 t stt-
ss t ts smt
bsss. ass ts mtt
-t mts, s
mmts mt s.
o ts s tt
ts mmz t mt s
mmt mt sts ss m. w
st tt
ss t t t
st s s , s
tts st
b ss t
2012. w s m t ss
mstt
sts s t ss,
b t st m t ss t
t bsss t stt bs
t m. T $50 m
s ts mt
2012 s mmtmt
t sstb bsss t.
it s mtt s t 2012 t
st mmtm t st t st
st m 2013. Mt
ts s s t tt
s mtt s
ts t u.S. t mt
e t t-mm
s dha c m
mtt st s t
ss. Bt mts s
ss t s ss
t t t .
THE BIG PICTURE
T ttt -tm
ms t
bsss m , st t
st-tm s m
t st . o t t
s st tm st. otts
s smt m ,
t ts t t b
s mts; t
b t t m ss s
m t tt t.
at, M Js s t
st t bt m ts ts
m t ts s mss, s
stt, bst t t
, tst tt
t s, t
t ss stts.
ntb, e m bs
s t s
b s t tt
st mst 2012,
ss t t-b m
b ss. it ms mst tst
b m ts t
sss m, t mb
b tt ts mm
t ut Stts.
TAKING BIG STEPS
o s, ss 2012
s t jst bt t sts.
Tt t , s
t stt ss m
stmts t st
t t t st
-tm t. w t t
b sts ss t t
bsss t t 2013 b.
i M, mt t st
mjt s t Bb
bsss, t mt-
t tt b att t. Ts tst t
stt s lt
am t t t
b ss t 2012.
i J, b S
t st t jt m
st, st stmt
$300 m. T jt
s stt--t-t, s-
mt t st as
w s
st bsss tm,
stt b
s tm
MeSSage roM Thechie execuTive oicer
To our ShareholderS, colleagueS and BuSineSS parTnerS:
T s s ms t b b bt sss, s
t bsss st sts. Ts st s t t
s t stt- t ss t t s s s, t
-gaap bss. at ts sts st t sss 2011, t sstt t t
b st m t t m m sm s ms.
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
4/16/ Mead JohnSon nuTriTion
t m a
Mt Sts a 30t
c.
i t, t tst ss s
. o t st , s
c ot o, ks s
t ms gb ot
cmmtt s mt
t t B, s s t
t sts,
sts. g s s ts
15 s t t
m, s
bssss, i b
s btt t ks t
M Js sss t t t.
DOING THE RIGHT THING
o M Jss s s
tt ts
t t,
s s s t b tt
t . i 2012, t s
st sttmt, mmt
S c ct
et T itt
t s tt s
t tts t s
bsss ts mt
t s .
w s stt
t mmz t mt
mt bsss ,
, t st -tm
sstbt s tt t s
g vs 2020. w s t
t ss m t t
s s msss,
s t s
t bss, s s t mt st
ts s t s.
w s t t
a cs Bst Stt tt,
ss s mb s
tb ms tt s
ts
b msts. i t
t s t jts, s
tt.
b bst t t
mt t s mt t t tt
s s,
ms sttts.
T ts sst tt
t t -t t m
s sm ft t bst
bt t b t m t
tt. o mss s t s t
s t bst stt ,
mmtt t st
mts t t
m. y t, ts smt ms
s tss s.
m m st ts
tt ss -tt s
mtb ts t t
mts, ts t
sss t
t tt tms
t t bst m
Ts s s ts M
Js ntt ms
s b s
mtt m s t
m t t m. i t b
tt t s ss
t t M Js mss
t tt i
m t m
tm tt m s st
t s , ts
ms, s t
ss.
A BRIGHT FUTURE
i m t tsmt t
m s s i t
s st t m
2004. M Js s m
s mt m t
-m, t, b
m t stt b
t m, s stt,
bst t
t,
M Js pt ntt
isttt t t, s s
as . as i t
t t b m,
T ts t
mt t b-t
t m ts as t st , bt s
t st sts t t
s t . estbs
t t mtt
ts bts
mt mtt t
t mt.
d t s 2012,
jst e bsss
m t t m
m ts tt
t t s. w mb m s stt t btt
st sstb, tb t
tt t st
ts st ts
wst e, s t
s t t m
bsss t mts
est e.
, t s m mtt
mt s t
t t t tt tm
M Js ms. Tt
2012, t
mt ,
t mt s t
s, st
tt m ts t m. Ts
t stt zt
bts t s tt t
t t t t st sts
ss t s m.
KEY TRANSITION
a ts sts, s s t
stmts mts,
m tms t
tjt sss bsss
. w s
st bsss tm, stt
b s tm s
t. it s tt tt tt
m tmt
m mmt t t
tmt ks Jbs s
pst c et o
i t b tt ts ss
t t
M Js mss.
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
5/162012 annual repo
M Js ntt, 2012
m t sbstt
t mt, st t
mt s tt t
mtt b st. Ss
s , t ts
, t m t
ts b tt sstt
t t - stt .
T B m bs t ms
stt tts stmts m
t st M Js
st ts t st t
t. m t m ts
bssss t ut Stts ct t s ts s
St am t t stbsmt
t t bts
S, M Js s m
s t t. Tt s
t tt s
st rs dmt
ss bts.
T S stmt
t s t b M
Js pt ntt isttt
(MJpni) t. Ts st nmb,t MJpni ts st tt
t s smmt, tt T
t cs ht c, t ts
t t gz, c.
T z m st
ts m t
MJn B Mmb
t - cs
hst p, d. St
ats t t sss s
t t t
c. T s t tt
t pni t cs
ts t b tt s
bst ts. T mt
st s t tt
t s bt t M Js
b t tt ts.
, B msmt
2012 s t sss t
t m tst m
s i s tst
t t tss t tt
ss. Bt st, s bt
St gsb, t s ceo t m a Mt Sts.
T b s -m ,
mst zt btt
st t t. n
mtt t st t M Js
ts s t s,
t s b st t
mt Sts s.
S bm MJn pst 2004,
t m s st sbs
Bst-Ms Sbb, s s
ts mss, s stt; s
ts b t
t ts s;
ts b s; ts
zt bt t
. d ts sm , s
M Js t
sss t b
st t nySe. i t sbst
s, t MJn st s
m t t t m s
m stbs ts t t
t sts St & ps 500
i mst b b ms
(#210 2012). i t s
ts m, st
s s t mt
St t t s mmb t
B dts t s tmt.
Bt s t mst mss
t Sts s t b
mmt tm s ssmb
,
t msmts t b.
o mmb tt tm s ceo-t ks Jbs, s
s t St 15 s t
m i b mss tt
sst, s t
s tst ss.
ks s b tst t
t t B s s t J
2012, t dts
t tmst m
t st s et cmmtt
mmt tm t M
Js sss t t t.ct, s B st
t t s st
s ss t b tt sss
t t t M
Jss sts sts.
Jms M. cs
Chairman o the Board
MeSSage roM ThechairMan o The Board
tt, st zt t
bts. o ms
s b mtt t
b bsss;
t s, t s b
z b t tt t b
ss.
S ts sts m
s t s
t m, st m
tmt t b
mt t t s
t B dts m
tmt m mmt. i
m t mt m
t t M Js ntt.
St w. gsb
President and Chie Executive Ofcer
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
6/16/ Mead JohnSon nuTriTion
t s tst
t bsss
sm st s
t t btt sts
sms bt ts mt
ts b t ts
sms s t ss.
as t
tt, M Js s
bt
tt t t
t tt
st t
sst t s t
t mt
t .
i 2011, t,
t-tt m m
t; ts st , t st
bt ts t t
t st bs t
stm j Pediatrics m
tt t s tt b mt tm st
t t ts
t. i t, M Js
tt 100 t t
t t tt t t b t
tt t ts
s t t ss
b s sms.
2xM Js b tstt sts
s m 50 2011
t 100 2012
innovaTion
unlockingThe
uTure
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
7/162012 annual repo
e t , bt t
70t s ntm,
mtt t t ts
t t s
b t mmt s
m ts t s.
T s ts b tt s m t (cMp), t
t s t b sstt
t st t tst t s
m-bs ms ts.
a bs st s tt
t mt ntm t
bts ef lgg s
st m ts t b
t t cMp t bt s
12 mts s m t ts
ntm tt bts.
Ts sts st tt
st t ss s s
m t s, st,
t t t
t t t t s .
M Js t t t
b t
- tt t -tm
3x59 t ts
s ntm t lggbt t t s m
t t jst s mts,
ss jst 21 t
sm t mt tt
ts b bt
t- s.
mt t tms.
i t t st ts st b
smmt T t cs
ht gz, c
t M Js pt ntt
isttt (MJpni) tt t
2012 w css pt
gstt, ht
ntt T, t
smsm s
st t ss ss
m st ssss.
T MJpni s smsm
em cts pt ntt,
bt tt ss m
ts t sss t m
s s t btt b t t t mts
t tt.
, 2012 m t mt
mt- t s t
gb et hm M
gehM. M Js j t t
st ct cs hst
M ct t bs ts m
st tt s ms
st t mst
t m m t ts
t t mt. Ts b s tt ststs
t sss
s t t t -
tt -tm -b
ts .
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
8/16
08 09 10 11 12
pm t M Js
s m m t mbs
m b st t
tts t mt bt t s t
tt tt t
s sts t ts
t s s bt ts,
ts.
perorMance
raiSingThe Bar
NET SALES(in BillionS)
08 09 10 11 12
$3.9
EARNINGS PER SHARE*n-gaap sts s. ps
t t tb t b s
t t gaap t.
$3.08
/ Mead JohnSon nuTriTion
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
9/16
w bt ts
t mt, m t mb
e b. i mb
as lt am ts,
t t t t
ms - ms, s
b mts dha
t sst tt s t st
b mt bs
ts t mt , , t-mm t s.
T sts t s t
t t t mt tt ts dha
s em t t
mt bbs s tt ts
ts s m tm sst
ttt tst t , s
mts m t st em
mts tt dha.
i t u.S., -t-
s e, t m tst
, s-t-s
t st btts t t
tst s. pts s s
st t t
amzBb mb t.
T as lt am smt
bsss t t
m t, st t
t st mts t
70 t b ss
2012. Ts s ms
tt ,
b st .
w tt lt
am t mjt-
jt t t Sc ats
mb tt s t
t b t t pmm
Bb ps tt s tsst
sm ss ss ts st-
mt. i as, $300-m
t t t
stmt S ms t
st- t jt m
st s t t
stmts t as ss ss
t m t
t tt t t
mt $12 b t t
t t s. M Js,
ts mmtmt s
t stmts t st
s t $1 b m.
at m mt
s t sts
t nt am e smt bsss, bt s t
2012 m st tjts. o
t stt stbt
mt e s btt
st t sstb
tbt t tm,
t s mt t
ts t u.S. tbt t
ss mt s ss
m t t t t t t.
i t, M Js ts s
t u.S. t m
ms t bbs t b t
mts ssst m
m, ts ,
s wic.
w s ts t st
s t sms t
, s t ts
tms tt ts, bt
s s m ts
t ms s tm
tt st t s, s
t tmt ss t
t sts.
$3B+gb ss M Jss
e b mj
mst 2012
2012 annual repo
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
10/16
reSponSiBiliTy
keepingour
proMiSeS
as st
st t
s t,
M Js sts mbs ts mmtmts
ts bs, mmts
ms s s t
ms ms tt t
tst ts. o
t s ssbt
m s bt t s
t mt,
tt t mt
t mmts
m st sts
t s.
/ Mead JohnSon nuTriTion
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
11/16
MARKETPLACE
o s s
tt ts,
s st, t
t t m s. i
2012, stt S
dst p mmt S c ct. i
mbt, t ss st
sm, mt m-
bssss mmtmt
t m; t s; b
m ts; t, st
mt sts. a
sts bt m ts tts
tt stt bt s
mmts.
ENVIRONMENT
i st s t,
-tm mmtmts t
s s msss, s,t s, st t.
g vs 2020 s
m s mt
ss stt
sstbt ts ss
M Js ts ts
, s s t t
sss . i 2012, m
tb ss m t
t s b 2020
ssb s. m,
ts c
z st t s.
i t t ms ss
st mbts t tts,
s tz t sts
s s t gb rt itt
tt st t-
t tts, t cb
dss pjt, t Sstb
p ct t epa
wst ws pts pt
pt ms.
COMMUNITIES
M Js sts ts
t mmts t ts,
tms stmt, mmt,
mt t. o
st t m
a cs Bst Stt ss s
mb ts t tt
m t s ts
b
msts mb
-st M Js ms.
Ts T l
c, t t
tt ts t
t m s
t t-st
s. i T, h h
m st t s ts
tt m b s f.
o h ms t
ps h k
s t m tt t
tts, s s tt t
ts. i t u.S., t
-st t
t t am r css t
tmt ssts b t m
t $200,000 t t
tt ts t -t
mmts t u.S. t Sstm
S b t t st sb.
50 BEST STARTS CELEBRATES 50 YEARS OF LEADERSHIP IN THE PHILIPPINES
i bt t 50t s M Js ts t ps,
s t z 50 Bst Stts. am t m ts t, s
t m t s tms tt, s t t t hm J
o ct, t t ms a cs Bst Stt m.
T mt sts, m t tms t ts t
t s mt, bt ts m t mts,
stbs s t s bt s t . i t, t 80
ts 800 s mts b s tt t s
b b t s t ss tbs t m st t t t s. Sm
s t t t st.
2012 annual repor
0i 2012 M Jss gz,
c mt t
mt st t s
IN 2012 OUR ENERGY
REDUCTION INITIATIVES
SAVED THE EqUIVALENT OF:
Tanker TruckS o gaSoline
88
15,553BarrelS o oil
579,748gallonS o gaSoline
1,001hoMeS worTh o elecTriciTy
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
12/160 / Mead JohnSon nuTriTion
Tts t t t
ts b ms,
m ss stts
s t ms t
st ts
st b sts t
sss.
at s s s
tt. m t ts s
t aidS s vtm t
t - ts t t
t ts cmb p
t st ss ss m
sts c t u.S., st
t b t bst ssb tt
stt ts ts
tt ts. i tms
b mm,
sbst b tt s ontt.
t ss sm t
tt s s ts
s t. o
es, ts st t
bst t tt ss
t mts s b
M, tst t Ss
s .
a ts sst, bt
m t t st
ms ss t
t mtb sss, s s
pt (pku) M S
u dss (MSud). i m ss,
t t b t bt
t, ts ts
t mt m, st mt t
stt t tm
t ms.
i t u.S., b s
s mtb ts s mtt
t, st h h
S ks m s t
mt t mt ms, s
s st t ts t mt
s ssst (wic),
bt s
s t bt t s
st / t ms.
T Bm h , s
b t c t pt
at, s jt tt
b M Js c
e , t s t t t
t ssst t ms
ms mt b pku; 2012,t tt tts t t
q. at, M Js
s s t cs s
m t ts
t s ss ts ts
b s ts
ss t t st t
smsms, t ssss b
ss ts.
w t t ssb
tss t m ssts
mt t tts mts ss t t
t t, t
t ts m
mt t st
t mt ms.
h ts, ms
st. its b t st
M Js ntt m
t t.
9,000nmb ts b
t pku b
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
13/162012 annual repo
e. ds. ct
t . M Js
sts tt ts
t m sts tt s s
. Tts
s mmt .
w t ss
ts t ss
t t tt sts;
t t b ts
tt t s t
s, m ts
tt b.
Bs t M Js,
tt ts t.
neTworkS
Makingnew
connecTionS
o amzBb mb bs t
tms sss t etBb
2011. ds ts bbs m
bt t s mts, t s tts
t t bbs mtt mt, t,
mmt s msts. it s ts
t t mt ss t ts
sts, t s t msmts t
s m b b m.
amzBb ts tm s ts
j t tts , msts
mms t s t m.
i st s sst
s s s, st s t
stms s b t
s t t sts s t
t sss. Tts
M Js ts mb
rs cts m as t ntam. m, ts
t ut Stts sts bt
tt t ts ts,
t t ss s s s
1-800-Bb123.
T st t ts t m ts, M Js
c t t s t b mt
t em amz Msts . T ss s c
m st mt s s sts t t mm s
t. m s mt/t j, t em amz
Msts s s t sm ss sts tt tt
mts ts t.
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
14/16
Top phoTo, picTured l-r
ELLIOTT SIGAL, M.D., PH.D. 4
dt, et v pst
c St o pst
rs dmt,
Bst-Ms Sbb cm
CELESTE A. CLARK, PH.D. 3, 4
Tst, w.k. k t
m S v pst
gb pb p et rts,
k cm
PETER G. RATCLIFFE 1, 3
m c et o,
p&o pss itt ds,
c ct plc
Middle phoTo, picTured l-r
JAMES M. CORNELIUS
cm t B
cm m c et o,
Bst-Ms Sbb cm
dt, g im lmt
ANNA C. CATALANO 2, 3
m pst, am ot o
cm c g; m
v pst Mt, Bp
dt, ws g hs
dt, cmt ct
dt, kt pm pms
STEPHEN W. GOLSBY
pst c et o,
M Js ntt cm
dt, Bm i.
P. KASPER JAKOBSEN
et v pst
c ot o,
M Js ntt c.
BoTToM phoTo, picTured l-r
STEVEN M. ALTSCHULER, M.D. 2, 4
c et o,
T cs hst p
dt, wt wts itt, i.
KIMBERLY A. CASIANO 1, 3
m pst c ot o
cs cmmts i.
dt, Mt cm
dt, Mt am
ROBERT S. SINGER 1, 2
m c et o,
B h, S..a.
dt, T & c.
dt, ct i.
HOWARD B. BERNICK 1, 2
pst, B as lmt,
m pst c et o
abt c cm
1. at cmmtt
2. cmst Mmtdmt cmmtt
3. nmt ct g cmmtt
4. ntt S T cmmtt
BOARD OF DIRECTORS
Back row, picTured l-r
P. KASPER JAKOBSEN
et v pst
c ot o
DIRK H. HONDMANN, PH.D.
S v pst,
gb rs dmt
PETER G. LEEMPUTTE
et v pst
c o
WILLIAM C. PPOOL
S v pst,
g cs St
JAMES JEFFREY JOBE
S v pst, gb S c
ronT row, picTured l-r
CHARLES M. URBAIN
S v pst,
St rts
c dmt o
STEPHEN W. GOLSBY
pst c et o
G. IVONNE MONTEAGUDO
S v pst, nt am
gb Mt
ExECUTIVE COMMITTEE
2 / Mead JohnSon nuTriTion
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
15/16
1 ajstmt 2008 sts mbt t 2009 sts t m s m Bz e. i Bz, bt t t s st-
sbs s m b 2009 t t Stmb 2009. d tt tm, BMS stbt ss ts t mt tts. i e
tst t t-t stbt m t BMS tm s s stbt. Ts t ss b t mt t stbts m st
t stbt-t ss. i t, 2008 sts jst t ft tst s tt b t stt s dmb 31, 2008
b tt tt .2 ajstmts iT t st sts, s t sts, , sttmt t sts, ipo-t sts sst s.3 ajstmts t m mb ss tst t t st-ipo .
NON-GAAP RECONCILIATION OF FINANCIAL MEASURES
SaleS earningS per Share
In millions except per share data 2008) 2009) 2010) 2011) 2012) 2008) 2009) 2010) 2011) 2012)
gaap (nt Ss /es p S) $2,882.4) $2,826.5) $3,141.6) $3,677.0) $3,901.3) $2.32) $1.99) $2.20) $2.47) $2.95
ot m s tst1 (35.9) ) ) ) ) (0.33) ) ) )
S tms b m ts2 ) ) ) ) ) 0.22) 0.40) 0.35) 0.46) 0.18
im t mt tms b ) ) ) ) ) 0.08) (0.12) (0.13) (0.14) (0.05)
et ss ss3 ) ) ) ) ) (0.39) (0.04) ) )
ajst -gaap sts $2,846.5) $2,826.5) $3,141.6) $3,677.0) $3,901.3) $1.90) $2.23) $2.42) $2.79) $3.08
corporaTe oice
M Js ntt cm
2701 ptt B, 4t
g, is 60026
ut Stts
847.832.2420
.mjs.m
STock exchange
M Js ntt cm
s st t t n y St
e t t smb MJn.
regiSTrar and TranSer agenT
cmts S Ss llc
480 wst B
Js ct, n Js 07310
866.207.6566 ( u.S.)
201.680.6578 (ts u.S.)
t m (Tdd) 800.231.5469
.mts.m/st
dividend policy
ds M Js mm st
b t B dts t
bss t bt t st
J, a, J otb.
independenT puBlic
accounTing irMdtt & T llp
CORPORATE AND SHAREHOLDER INFORMATION
PORTFOLIO MEETING WIDE-RANGING PEDIATRIC NUTRITIONAL NEEDS
2012 annual repor
rouTine
~40% t t
SoluTionS
~10% m t
SpecialTy
~10% s, s t,
mtt mtb ss
childrenS
~40% s tt smtt
7/29/2019 Mead Johnson Nutrition 2012 Annual Report
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