Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Income

v3.19.3
Consolidated Condensed Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Sep. 28, 2019
Sep. 29, 2018
Income Statement [Abstract]        
Net revenue $ 19,190 $ 19,163 $ 51,756 $ 52,191
Cost of sales 7,895 6,803 21,494 19,681
Gross margin 11,295 12,360 30,262 32,510
Research and development 3,208 3,428 9,978 10,110
Marketing, general and administrative 1,486 1,605 4,608 5,230
Restructuring and other charges 104 (72) 288 (72)
Amortization of acquisition-related intangibles 50 50 150 150
Operating expenses 4,848 5,011 15,024 15,418
Operating income 6,447 7,349 15,238 17,092
Gains (losses) on equity investments, net 318 (75) 922 365
Interest and other, net (46) (132) (170) 225
Income before taxes 6,719 7,142 15,990 17,682
Provision for taxes 729 744 1,847 1,824
Net income $ 5,990 $ 6,398 $ 14,143 $ 15,858
Earnings per share - Basic (in dollars per share) $ 1.36 $ 1.40 $ 3.18 $ 3.42
Earnings per share - Diluted (in dollars per share) $ 1.35 $ 1.38 $ 3.14 $ 3.35
Weighted average shares of common stock outstanding:        
Basic (shares) 4,391 4,574 4,450 4,632
Diluted (shares) 4,433 4,648 4,507 4,728