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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Sales and revenues:        
Sales and revenues $ 12,889 $ 9,997 $ 24,776 $ 20,632
Operating costs:        
Cost of goods sold 8,881 7,113 16,893 14,379
Selling, general and administrative expenses 1,364 1,179 2,603 2,300
Research and development expenses 446 341 820 697
Other operating (income) expenses 293 431 616 744
Total operating costs 11,100 9,213 21,173 18,444
Operating profit 1,789 784 3,603 2,188
Other income (expense) 201 29 526 251
Consolidated profit before taxes 1,870 678 3,867 2,191
Provision (benefit) for income taxes 470 227 945 652
Profit of consolidated companies 1,400 451 2,922 1,539
Equity in profit (loss) of unconsolidated affiliated companies 14 8 23 13
Profit of consolidated and affiliated companies 1,414 459 2,945 1,552
Less: Profit (loss) attributable to the noncontrolling interests 1 1 2 2
Profit $ 1,413 [1] $ 458 [1] $ 2,943 [2] $ 1,550 [2]
Profit per common share (in dollars per share) $ 2.58 $ 0.84 $ 5.38 $ 2.85
Profit per common share - diluted (in dollars per share) $ 2.56 [3] $ 0.84 [3] $ 5.33 [4] $ 2.83 [4]
Weighted-average common shares outstanding (millions)        
Basic (in shares) 547.9 541.5 547.1 544.5
Diluted (in shares) 552.1 [3] 544.5 [3] 551.8 [4] 548.2 [4]
Machinery, Energy & Transportation        
Sales and revenues:        
Sales and revenues $ 12,193 $ 9,310 $ 23,384 $ 19,224
Financial Products        
Sales and revenues:        
Sales and revenues 696 687 1,392 1,408
Operating costs:        
Interest Expense 116 149 241 324
All other excluding Financial Products        
Operating costs:        
Interest Expense $ 120 $ 135 $ 262 $ 248
[1] Profit attributable to common shareholders.
[2] Profit attributable to common shareholders.
[3] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.
[4] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.