XML 28 R2.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Consolidated Statement of Earnings      
Net sales $ 34,608 $ 31,904 $ 30,578
Cost of products sold, excluding amortization of intangible assets 15,003 13,231 12,706
Amortization of intangible assets 2,132 1,936 2,178
Research and development 2,420 2,440 2,300
Selling, general and administrative 9,696 9,765 9,744
Total Operating Cost and Expenses 29,251 27,372 26,928
Operating Earnings 5,357 4,532 3,650
Interest expense 546 670 826
Interest income (46) (94) (105)
Net foreign exchange (gain) loss (8) 7 28
Debt extinguishment costs   63 167
Other (income) expense, net (103) (191) (139)
Earnings from Continuing Operations Before Taxes 4,968 4,077 2,873
Taxes on Earnings from Continuing Operations 497 390 539
Earnings from Continuing Operations 4,471 3,687 2,334
Net Earnings from Discontinued Operations, net of taxes 24   34
Net Earnings $ 4,495 $ 3,687 $ 2,368
Basic Earnings Per Common Share --      
Continuing Operations $ 2.51 $ 2.07 $ 1.32
Discontinued Operations 0.01   0.02
Net Earnings 2.52 2.07 1.34
Diluted Earnings Per Common Share --      
Continuing Operations 2.49 2.06 1.31
Discontinued Operations 0.01   0.02
Net Earnings $ 2.50 $ 2.06 $ 1.33
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share 1,773 1,768 1,758
Dilutive Common Stock Options 13 13 12
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options 1,786 1,781 1,770
Outstanding Common Stock Options Having No Dilutive Effect 9 61