v3.20.4
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Dec. 29, 2018
Income Statement [Abstract]      
Net revenue $ 77,867 $ 71,965 $ 70,848
Cost of sales 34,255 29,825 27,111
Gross margin 43,612 42,140 43,737
Research and development 13,556 13,362 13,543
Marketing, general and administrative 6,180 6,350 6,950
Restructuring and other charges 198 393 (72)
Operating expenses 19,934 20,105 20,421
Operating income 23,678 22,035 23,316
Gains (losses) on equity investments, net 1,904 1,539 (125)
Interest and other, net (504) 484 126
Income before taxes 25,078 24,058 23,317
Provision for taxes 4,179 3,010 2,264
Net income $ 20,899 $ 21,048 $ 21,053
Earnings per share—basic $ 4.98 $ 4.77 $ 4.57
Earnings per share—diluted $ 4.94 $ 4.71 $ 4.48
Weighted average shares of common stock outstanding:      
Basic (shares) 4,199 4,417 4,611
Diluted (shares) 4,232 4,473 4,701

Source