Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Statements of Income

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Consolidated Condensed Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Jun. 27, 2015
Jun. 28, 2014
Income Statement [Abstract]        
Net revenue $ 13,195 $ 13,831 $ 25,976 $ 26,595
Cost of sales 4,947 4,914 9,998 10,065
Gross margin 8,248 8,917 15,978 16,530
Research and development 3,087 2,859 6,082 5,705
Marketing, general and administrative 1,949 2,061 3,902 4,108
Restructuring and asset impairment charges 248 81 353 218
Amortization of acquisition-related intangibles 68 72 130 145
Operating expenses 5,352 5,073 10,467 10,176
Operating income 2,896 3,844 5,511 6,354
Gains (losses) on equity investments, net 100 95 132 143
Interest and other, net (13) (17) 13 95
Income before taxes 2,983 3,922 5,656 6,592
Provision for taxes 277 1,126 958 1,866
Net income $ 2,706 $ 2,796 $ 4,698 $ 4,726
Basic earnings per share of common stock (in dollars per share) $ 0.57 $ 0.56 $ 0.99 $ 0.95
Diluted earnings per share of common stock (in dollars per share) 0.55 0.55 0.96 0.92
Cash dividends declared per share of common stock (in dollars per share) $ 0 $ 0 $ 0.48 $ 0.45
Weighted average shares of common stock outstanding:        
Basic (shares) 4,759 4,981 4,750 4,977
Diluted (shares) 4,909 5,123 4,912 5,120