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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sales and revenues:        
Sales and revenues $ 14,994 $ 12,397 $ 42,830 $ 37,173
Operating costs:        
Cost of goods sold 10,202 8,617 29,736 25,510
Selling, general and administrative expenses 1,401 1,340 4,172 3,943
Research and development expenses 476 427 1,413 1,247
Other operating (income) expenses 339 238 908 854
Total operating costs 12,569 10,733 36,606 31,906
Operating profit 2,425 1,664 6,224 5,267
Other income (expense) 242 225 755 751
Consolidated profit before taxes 2,558 1,775 6,653 5,642
Provision (benefit) for income taxes 527 368 1,423 1,313
Profit of consolidated companies 2,031 1,407 5,230 4,329
Equity in profit (loss) of unconsolidated affiliated companies 9 21 20 44
Profit of consolidated and affiliated companies 2,040 1,428 5,250 4,373
Less: Profit (loss) attributable to the noncontrolling interests (1) 2 (1) 4
Profit $ 2,041 [1] $ 1,426 [1] $ 5,251 [2] $ 4,369 [2]
Profit per common share (in dollars per share) $ 3.89 $ 2.62 $ 9.91 $ 8.00
Profit per common share - diluted (in dollars per share) $ 3.87 [3] $ 2.60 [3] $ 9.85 [4] $ 7.94 [4]
Weighted-average common shares outstanding (millions)        
Basic (in shares) 525.0 544.0 530.1 545.8
Diluted (in shares) 527.6 [3] 547.6 [3] 533.2 [4] 550.2 [4]
Machinery, Energy & Transportation        
Sales and revenues:        
Sales and revenues $ 14,278 $ 11,707 $ 40,703 $ 35,091
Financial Products        
Sales and revenues:        
Sales and revenues 716 690 2,127 2,082
Operating costs:        
Interest expense of Financial Products 151 111 377 352
All other excluding Financial Products        
Operating costs:        
Interest expense excluding Financial Products $ 109 $ 114 $ 326 $ 376
[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.