Revision of Previously Issued Financial Statements

In the second quarter of 2015, we identified an incorrect classification of certain revenues between legal entities, and as a consequence, we revised our income tax expense for periods beginning in 2008 through the first quarter of 2015 in the cumulative amount of $711 million. We have evaluated the materiality of the income tax expense impact quantitatively and qualitatively and concluded it was not material to any of the prior periods impacted and that correction of income tax expense as an out of period adjustment in the quarter ended June 30, 2015 would not be material to our consolidated financial statements for the year ending December 31, 2015. Consolidated revenues are not impacted. We have elected to revise previously issued financial statements for periods contained on this Quarterly Report on Form 10-Q to correct the effect of this immaterial income tax expense underaccrual for the corresponding periods. Periods not presented herein will be revised, as applicable, as they are included in future filings.

The following table presents the impact of these corrections on affected Consolidated Balance Sheet line items as of December 31, 2014 (in millions; unaudited):



	As of December 31, 2014
	As Previously Reported		Adjustment			As Revised
Selected Balance Sheets Data:
Income tax receivable, net	$	1,298	$	(707	)	$	591
Total current assets	80,685		(707		)	79,978
Total assets	131,133		(707		)	130,426
Income taxes payable, non-current	3,407		(67		)	3,340
Retained earnings	75,706		(640		)	75,066
Total stockholders' equity	104,500		(640		)	103,860
Total liabilities and stockholders' equity	$	131,133	$	(707	)	$	130,426

The following table presents the impact of these corrections on affected Consolidated Statements of Income line items for the three and six months ended June 30, 2014 and the three months ended March 31, 2015 (in millions, except per share amounts; unaudited):



	Three Months Ended June 30, 2014							Six Months Ended June 30, 2014
	As Previously Reported		Adjustment			As Revised		As Previously Reported		Adjustment			As Revised
Selected Statements of Income Data:
Provision for income taxes	$	913	$	71		$	984	$	1,735	$	152		$	1,887
Net income from continuing operations	3,490		(71		)	3,419		7,140		(152		)	6,988
Net income	$	3,422	$	(71	)	$	3,351	$	6,874	$	(152	)	$	6,722

Basic net income per share from continuing operations	$	5.17	$	(0.11	)	$	5.06	$	10.59	$	(0.22	)	$	10.37
Basic net income per share	5.07		(0.11		)	4.96		10.20		(0.22		)	9.98
Diluted net income per share from continuing operations	$	5.09	$	(0.11	)	$	4.98	$	10.41	$	(0.22	)	$	10.19
Diluted net income per share	4.99		(0.11		)	4.88		10.02		(0.22		)	9.80



	Three Months Ended March 31, 2015
	As Previously Reported		Adjustment			As Revised
Selected Statements of Income Data:
Provision for income taxes	$	1,018	$	71		$	1,089
Net income from continuing operations	3,586		(71		)	3,515
Net income	$	3,586	$	(71	)	$	3,515

Basic net income per share from continuing operations	$	5.27	$	(0.11	)	$	5.16
Basic net income per share	5.27		(0.11		)	5.16
Diluted net income per share from continuing operations	$	5.20	$	(0.10	)	$	5.10
Diluted net income per share	5.20		(0.10		)	5.10

The following table presents the impact of these corrections on affected Consolidated Statements of Comprehensive Income line items for the three and six months ended June 30, 2014 and the three months ended March 31, 2015 (in millions; unaudited):



	Three Months Ended June 30, 2014							Six Months Ended June 30, 2014
	As Previously Reported		Adjustment			As Revised		As Previously Reported		Adjustment			As Revised
Selected Statements of Comprehensive Income Data:
Net income	$	3,422	$	(71	)	$	3,351	$	6,874	$	(152	)	$	6,722
Comprehensive income	3,579		(71		)	3,508		7,251		(152		)	7,099



	Three Months Ended March 31, 2015
	As Previously Reported		Adjustment			As Revised
Selected Statements of Comprehensive Income Data:
Net income	$	3,586	$	(71	)	$	3,515
Comprehensive income	3,188		(71		)	3,117

The following table presents the impact of these corrections on affected Consolidated Statements of Cash Flows line items for the six months ended June 30, 2014 and the three months ended March 31, 2015 (in millions; unaudited):



	Six Months Ended June 30, 2014								Three Months Ended March 31, 2015
	As Previously Reported			Adjustment			As Revised		As Previously Reported		Adjustment			As Revised
Selected Statements of Cash Flows Data:
Net income	$	6,874		$	(152	)	$	6,722	$	3,586	$	(71	)	$	3,515
Changes in income taxes, net	(62		)	152			90		756		71			827