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Consolidated Results of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Sales and revenues:      
Sales and revenues $ 50,971 $ 41,748 $ 53,800
Operating costs:      
Cost of goods sold 35,513 29,082 36,630
Selling, general and administrative expenses 5,365 4,642 5,162
Research and development expenses 1,686 1,415 1,693
Other operating (income) expenses 1,074 1,467 1,271
Total operating costs 44,093 37,195 45,510
Operating profit 6,878 4,553 8,290
Other income (expense) 1,814 (44) (57)
Consolidated profit before tax 8,204 3,995 7,812
Provision (benefit) for income taxes 1,742 1,006 1,746
Profit (loss) of consolidated companies 6,462 2,989 6,066
Equity in profit (loss) of unconsolidated affiliated companies 31 14 28
Profit (loss) of consolidated and affiliated companies 6,493 3,003 6,094
Less: comprehensive income attributable to the noncontrolling interests 4 5 1
Profit (loss) [1] $ 6,489 $ 2,998 $ 6,093
Profit (loss) per common share (in dollars per share) $ 11.93 $ 5.51 $ 10.85
Profit (loss) per common share - diluted (in dollars per share) [2] $ 11.83 $ 5.46 $ 10.74
Weighted-average common shares outstanding (millions)      
Basic (in shares) 544.0 544.1 561.6
Diluted (in shares) [2] 548.5 548.6 567.5
Machinery, Energy & Transportation      
Sales and revenues:      
Sales and revenues $ 48,188 $ 39,022 $ 50,755
Financial Products      
Sales and revenues:      
Sales and revenues 2,783 2,726 3,045
Operating costs:      
Interest Expense of Financial Products 455 589 754
All other excluding Financial Products      
Operating costs:      
Interest Expense excluding Financial Products $ 488 $ 514 $ 421
[1] Profit attributable to common shareholders.
[2] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.