Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Income

v3.19.2
Consolidated Condensed Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Jun. 29, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net revenue $ 16,505 $ 16,962 $ 32,566 $ 33,028
Cost of sales 6,627 6,543 13,599 12,878
Gross margin 9,878 10,419 18,967 20,150
Research and development 3,438 3,371 6,770 6,682
Marketing, general and administrative 1,589 1,725 3,122 3,625
Restructuring and other charges 184 0 184 0
Amortization of acquisition-related intangibles 50 50 100 100
Operating expenses 5,261 5,146 10,176 10,407
Operating income 4,617 5,273 8,791 9,743
Gains (losses) on equity investments, net 170 (203) 604 440
Interest and other, net (63) 459 (124) 357
Income before taxes 4,724 5,529 9,271 10,540
Provision for taxes 545 523 1,118 1,080
Net income $ 4,179 $ 5,006 $ 8,153 $ 9,460
Earnings per share - Basic (in dollars per share) $ 0.94 $ 1.08 $ 1.82 $ 2.03
Earnings per share - Diluted (in dollars per share) $ 0.92 $ 1.05 $ 1.79 $ 1.98
Weighted average shares of common stock outstanding:        
Basic (shares) 4,466 4,649 4,479 4,661
Diluted (shares) 4,523 4,747 4,543 4,768