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. 26, 2015
Sep. 27, 2014
Sep. 26, 2015
Sep. 27, 2014
Income Statement [Abstract]        
Net revenue $ 14,465 $ 14,554 $ 40,441 $ 41,149
Cost of sales 5,354 5,096 15,352 15,161
Gross margin 9,111 9,458 25,089 25,988
Research and development 2,927 2,842 9,009 8,547
Marketing, general and administrative 1,910 1,979 5,812 6,087
Restructuring and asset impairment charges 14 20 367 238
Amortization of acquisition-related intangibles 68 77 198 222
Operating expenses 4,919 4,918 15,386 15,094
Operating income 4,192 4,540 9,703 10,894
Gains (losses) on equity investments, net 165 35 297 178
Interest and other, net (104) (25) (91) 70
Income before taxes 4,253 4,550 9,909 11,142
Provision for taxes 1,144 1,233 2,102 3,099
Net income $ 3,109 $ 3,317 $ 7,807 $ 8,043
Basic earnings per share of common stock (in dollars per share) $ 0.65 $ 0.68 $ 1.64 $ 1.63
Diluted earnings per share of common stock (in dollars per share) 0.64 0.66 1.59 1.58
Cash dividends declared per share of common stock (in dollars per share) $ 0.48 $ 0.45 $ 0.96 $ 0.90
Weighted average shares of common stock outstanding:        
Basic (shares) 4,747 4,880 4,749 4,945
Diluted (shares) 4,876 5,045 4,900 5,095