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. 28, 2014
Jun. 29, 2013
Jun. 28, 2014
Jun. 29, 2013
Net revenue $ 13,831 $ 12,811 $ 26,595 $ 25,391
Cost of sales 4,914 5,341 10,065 10,855
Gross margin 8,917 7,470 16,530 14,536
Research and development 2,859 2,516 5,705 5,043
Marketing, general and administrative 2,061 2,165 4,108 4,112
Restructuring and asset impairment charges 81 0 218 0
Operating expenses 5,073 4,751 10,176 9,298
Operating income 3,844 2,719 6,354 5,238
Gains (losses) on equity investments, net 95 11 143 (15)
Interest and other, net (17) (37) 95 (87)
Income before taxes 3,922 2,693 6,592 5,136
Provision for taxes 1,126 693 1,866 1,091
Net income 2,796 2,000 4,726 4,045
Basic earnings per common share (in dollars per share) $ 0.56 $ 0.40 $ 0.95 $ 0.82
Diluted earnings per common share (in dollars per share) $ 0.55 $ 0.39 $ 0.92 $ 0.79
Cash dividends declared per common share (in dollars per share) $ 0 $ 0 $ 0.45 $ 0.45
Weighted average common shares outstanding:        
Basic (shares) 4,981 4,978 4,977 4,963
Diluted (shares) 5,123 5,106 5,120 5,093
Operating Expense [Member]
       
Amortization of acquisition-related intangibles $ 72 $ 70 $ 145 $ 143