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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Sales and revenues:    
Sales and revenues $ 11,887 $ 10,635
Operating costs:    
Cost of goods sold 8,012 7,266
Selling, general and administrative expenses 1,239 1,121
Research and development expenses 374 356
Other operating (income) expenses 323 313
Total operating costs 10,073 9,231
Operating profit 1,814 1,404
Other income (expense) 325 222
Consolidated profit before taxes 1,997 1,513
Provision (benefit) for income taxes 475 425
Profit of consolidated companies 1,522 1,088
Equity in profit (loss) of unconsolidated affiliated companies 9 5
Profit of consolidated and affiliated companies 1,531 1,093
Less: Profit (loss) attributable to the noncontrolling interests 1 1
Profit [1] $ 1,530 $ 1,092
Profit per common share (in dollars per share) $ 2.80 $ 2.00
Profit per common share - diluted (in dollars per share) [2] $ 2.77 $ 1.98
Weighted-average common shares outstanding (millions)    
Basic (in shares) 546.4 546.8
Diluted (in shares) [2] 551.4 551.1
Machinery, Energy & Transportation    
Sales and revenues:    
Sales and revenues $ 11,191 $ 9,914
Financial Products    
Sales and revenues:    
Sales and revenues 696 721
Operating costs:    
Interest Expense 125 175
All other excluding Financial Products    
Operating costs:    
Interest Expense $ 142 $ 113
[1] Profit attributable to common shareholders.
[2] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.