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 9 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Sep. 30, 2017
Oct. 01, 2016
Income Statement [Abstract]        
Net revenue $ 16,149 $ 15,778 $ 45,708 $ 43,013
Cost of sales 6,092 5,795 17,406 16,927
Gross margin 10,057 9,983 28,302 26,086
Research and development 3,223 3,069 9,824 9,460
Marketing, general and administrative 1,666 2,006 5,624 6,239
Restructuring and other charges 4 372 189 1,786
Amortization of acquisition-related intangibles 49 74 124 253
Operating expenses 4,942 5,521 15,761 17,738
Operating income 5,115 4,462 12,541 8,348
Gains (losses) on equity investments, net 846 (12) 1,440 488
Interest and other, net (31) (132) 336 (340)
Income before taxes 5,930 4,318 14,317 8,496
Provision for taxes 1,414 940 4,029 1,742
Net income $ 4,516 $ 3,378 $ 10,288 $ 6,754
Basic earnings per share of common stock (in dollars per share) $ 0.96 $ 0.71 $ 2.19 $ 1.43
Diluted earnings per share of common stock (in dollars per share) 0.94 0.69 2.12 1.39
Cash dividends declared per share of common stock (in dollars per share) $ 0.5450 $ 0.5200 $ 1.0775 $ 1.0400
Weighted average shares of common stock outstanding:        
Basic (shares) 4,688 4,734 4,707 4,728
Diluted (shares) 4,821 4,877 4,849 4,872