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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Sales and revenues:        
Sales and revenues $ 14,432 $ 14,011 $ 27,898 $ 26,870
Operating costs:        
Cost of Revenue 9,941 9,422 18,944 17,988
Selling, general and administrative expenses 1,309 1,440 2,628 2,716
Research and development expenses 441 462 876 905
Interest expense of Financial Products 192 182 382 348
Other operating (income) expenses 336 338 648 638
Total operating costs 12,219 11,844 23,478 22,595
Operating profit 2,213 2,167 4,420 4,275
Interest expense excluding Financial Products (103) (102) (206) (203)
Other income (expense) 68 121 228 248
Consolidated profit before taxes 2,178 2,186 4,442 4,320
Provision (benefit) for income taxes 565 490 952 962
Profit of consolidated companies 1,613 1,696 3,490 3,358
Equity in profit (loss) of unconsolidated affiliated companies 6 9 13 14
Profit of consolidated and affiliated companies 1,619 1,705 3,503 3,372
Less: Profit (loss) attributable to noncontrolling interests (1) (2) 2 0
Profit [1] $ 1,620 $ 1,707 $ 3,501 $ 3,372
Profit per common share (in dollars per share) $ 2.85 $ 2.86 $ 6.14 $ 5.65
Profit per common share - diluted (in dollars per share) [2] $ 2.83 $ 2.82 $ 6.08 $ 5.56
Weighted-average common shares outstanding (millions)        
Basic (in shares) 567.8 596.2 569.9 597.0
Diluted (in shares) [2] 573.1 604.2 575.8 606.1
Machinery, Energy & Transportation        
Sales and revenues:        
Sales and revenues $ 13,671 $ 13,279 $ 26,395 $ 25,429
Financial Products        
Sales and revenues:        
Sales and revenues $ 761 $ 732 $ 1,503 $ 1,441
[1] Profit attributable to common shareholders.
[2] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.