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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Sales and revenues:    
Sales and revenues $ 15,862 $ 13,589
Operating costs:    
Cost of goods sold 10,103 9,559
Selling, general and administrative expenses 1,463 1,346
Research and development expenses 472 457
Other operating (income) expenses 876 266
Total operating costs 13,131 11,734
Operating profit 2,731 1,855
Other income (expense) 32 253
Consolidated profit before taxes 2,634 1,999
Provision (benefit) for income taxes 708 469
Profit of consolidated companies 1,926 1,530
Equity in profit (loss) of unconsolidated affiliated companies 16 7
Profit of consolidated and affiliated companies 1,942 1,537
Less: Profit (loss) attributable to the noncontrolling interests (1) 0
Profit [1] $ 1,943 $ 1,537
Profit per common share (in dollars per share) $ 3.76 $ 2.88
Profit per common share - diluted (in dollars per share) [2] $ 3.74 $ 2.86
Weighted-average common shares outstanding (millions)    
Basic (in shares) 516.2 534.5
Diluted (in shares) [2] 519.4 538.3
Machinery, Energy & Transportation    
Sales and revenues:    
Sales and revenues $ 15,099 $ 12,886
Financial Products    
Sales and revenues:    
Sales and revenues 763 703
Operating costs:    
Interest expense of Financial Products 217 106
All other excluding Financial Products    
Operating costs:    
Interest expense excluding Financial Products $ 129 $ 109
[1] Profit attributable to common shareholders.
[2] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.