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Consolidated Results of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Sales and revenues:      
Sales of Machinery, Energy & Transportation $ 42,676 $ 35,773 $ 44,147
Revenues of Financial Products 2,786 2,764 2,864
Total sales and revenues 45,462 38,537 47,011
Operating costs:      
Cost of goods sold 31,049 28,309 33,546
Selling, general and administrative expenses 5,177 4,686 4,951
Research and development expenses 1,905 1,951 2,119
Interest expense of Financial Products 646 596 587
Goodwill impairment charge 0 595 0
Other operating (income) expenses 2,279 1,902 2,023
Total operating costs 41,056 38,039 43,226
Operating profit 4,406 498 3,785
Interest expense excluding Financial Products 531 505 507
Other income (expense) 207 146 161
Consolidated profit before taxes 4,082 139 3,439
Provision (benefit) for income taxes 3,339 192 916
Profit (loss) of consolidated companies 743 (53) 2,523
Equity in profit (loss) of unconsolidated affiliated companies 16 (6) 0
Profit (loss) of consolidated and affiliated companies 759 (59) 2,523
Less: Profit (loss) attributable to noncontrolling interests 5 8 11
Profit (loss) [1] $ 754 $ (67) $ 2,512
Profit (loss) per common share (in dollars per share) $ 1.27 $ (0.11) $ 4.23
Profit (loss) per common share - diluted (in dollars per share) [2],[3] $ 1.26 $ (0.11) $ 4.18
Weighted-average common shares outstanding (millions)      
Basic (in shares) 591.8 584.3 594.3
Diluted (in shares) [2],[3] 599.3 584.3 601.3
Cash dividends declared per common share (in dollars per share) $ 3.11 $ 3.08 $ 3.01
[1] 1 Profit (loss) attributable to common shareholders.
[2] 2 Diluted by assumed exercise of stock-based compensation awards, using the treasury stock method.
[3] 3 In 2016, the assumed exercise of stock-based compensation awards was not considered because the impact would be antidilutive.