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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Oct. 01, 2022
Oct. 02, 2021
Revenues        
Total revenues $ 3,078,000,000 $ 2,990,000,000 $ 9,233,000,000 $ 9,060,000,000
Costs, expenses and other        
Selling and administrative expense 258,000,000 283,000,000 841,000,000 895,000,000
Interest expense 31,000,000 33,000,000 96,000,000 109,000,000
Non-service components of pension and postretirement income, net (59,000,000) (40,000,000) (180,000,000) (119,000,000)
Special charges 0 10,000,000 0 20,000,000
Gain on business disposition 0 0 0 (17,000,000)
Total costs, expenses and other 2,814,000,000 2,772,000,000 8,474,000,000 8,434,000,000
Income from continuing operations before income taxes 264,000,000 218,000,000 759,000,000 626,000,000
Income tax expense 39,000,000 33,000,000 123,000,000 86,000,000
Income from continuing operations 225,000,000 185,000,000 636,000,000 540,000,000
Loss from discontinued operations 0 0 (1,000,000) (1,000,000)
Net income $ 225,000,000 $ 185,000,000 $ 635,000,000 $ 539,000,000
Basic Earnings per share        
Continuing operations (in dollars per share) $ 1.06 $ 0.83 $ 2.96 $ 2.39
Diluted Earnings per share        
Continuing operations (in dollars per share) $ 1.06 $ 0.82 $ 2.94 $ 2.37
Manufacturing group        
Costs, expenses and other        
Gain on business disposition     $ 0 $ (17,000,000)
Income from continuing operations     615,000,000 537,000,000
Finance group        
Revenues        
Total revenues $ 11,000,000 $ 11,000,000 41,000,000 38,000,000
Costs, expenses and other        
Gain on business disposition     0 0
Income from continuing operations     21,000,000 3,000,000
Product        
Costs, expenses and other        
Cost of products/services sold 2,243,000,000 2,173,000,000 6,616,000,000 6,505,000,000
Product | Manufacturing group        
Revenues        
Total revenues 2,608,000,000 2,551,000,000 7,745,000,000 7,620,000,000
Service        
Costs, expenses and other        
Cost of products/services sold 341,000,000 313,000,000 1,101,000,000 1,041,000,000
Service | Manufacturing group        
Revenues        
Total revenues $ 459,000,000 $ 428,000,000 $ 1,447,000,000 $ 1,402,000,000