v3.20.2
Consolidated Condensed Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 26, 2020
Sep. 28, 2019
Income Statement [Abstract]        
Net revenue $ 18,333 $ 19,190 $ 57,889 $ 51,756
Cost of sales 8,592 7,895 25,625 21,494
Gross margin 9,741 11,295 32,264 30,262
Research and development 3,272 3,208 9,901 9,978
Marketing, general and administrative 1,435 1,536 4,423 4,758
Restructuring and other charges (25) 104 146 288
Operating expenses 4,682 4,848 14,470 15,024
Operating income 5,059 6,447 17,794 15,238
Gains (losses) on equity investments, net 56 318 212 922
Interest and other, net (74) (46) (416) (170)
Income before taxes 5,041 6,719 17,590 15,990
Provision for taxes 765 729 2,548 1,847
Net income $ 4,276 $ 5,990 $ 15,042 $ 14,143
Earnings per share - Basic (in dollars per share) $ 1.02 $ 1.36 $ 3.55 $ 3.18
Earnings per share - Diluted (in dollars per share) $ 1.02 $ 1.35 $ 3.52 $ 3.14
Weighted average shares of common stock outstanding:        
Basic (shares) 4,188 4,391 4,233 4,450
Diluted (shares) 4,211 4,433 4,269 4,507

Source