Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Income

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Consolidated Condensed Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jul. 02, 2011
Jun. 30, 2012
Jul. 02, 2011
Net revenue $ 13,501 $ 13,032 $ 26,407 $ 25,879
Cost of sales 4,947 5,130 9,588 10,092
Gross margin 8,554 7,902 16,819 15,787
Research and development 2,513 1,986 4,914 3,902
Marketing, general and administrative 2,131 1,905 4,104 3,680
Operating expenses 4,722 3,967 9,177 7,694
Operating income 3,832 3,935 7,642 8,093
Gains (losses) on equity investments, net 47 (25) 28 3
Interest and other, net 55 21 78 206
Income before taxes 3,934 3,931 7,748 8,302
Provision for taxes 1,107 977 2,183 2,188
Net income 2,827 2,954 5,565 6,114
Basic earnings per common share (in dollars per share) $ 0.56 $ 0.56 $ 1.11 $ 1.14
Diluted earnings per common share (in dollars per share) $ 0.54 $ 0.54 $ 1.07 $ 1.11
Cash dividends declared per common share (in dollars per share) $ 0 $ 0 $ 0.42 $ 0.3624
Weighted average common shares outstanding:        
Basic (shares) 5,022 5,294 5,010 5,376
Diluted (shares) 5,199 5,441 5,196 5,527
Operating Expense [Member]
       
Amortization of acquisition-related intangibles $ 78 $ 76 $ 159 $ 112