Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Income

v3.7.0.1
Consolidated Condensed Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jul. 01, 2017
Jul. 02, 2016
Income Statement [Abstract]        
Net revenue $ 14,763 $ 13,533 $ 29,559 $ 27,235
Cost of sales 5,665 5,560 11,314 11,132
Gross margin 9,098 7,973 18,245 16,103
Research and development 3,275 3,145 6,601 6,391
Marketing, general and administrative 1,854 2,007 3,958 4,233
Restructuring and other charges 105 1,414 185 1,414
Amortization of Acquisition-Related Intangible Assets 37 89 75 179
Operating expenses 5,271 6,655 10,819 12,217
Operating income 3,827 1,318 7,426 3,886
Gains (losses) on equity investments, net 342 478 594 500
Interest and other, net 403 (126) 367 (208)
Income before taxes 4,572 1,670 8,387 4,178
Provision for taxes 1,764 340 2,615 802
Net income $ 2,808 $ 1,330 $ 5,772 $ 3,376
Basic earnings per share of common stock (in dollars per share) $ 0.60 $ 0.28 $ 1.22 $ 0.71
Diluted earnings per share of common stock (in dollars per share) 0.58 0.27 1.19 0.69
Cash dividends declared per share of common stock (in dollars per share) $ 0 $ 0 $ 0.5325 $ 0.52
Weighted average shares of common stock outstanding:        
Basic (shares) 4,710 4,729 4,717 4,725
Diluted (shares) 4,845 4,866 4,864 4,870