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Quarterly financial data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2011

Quarterly financial data (unaudited) [Abstract]

Quarterly financial data (unaudited)


		2011 Quarters ended
(In millions, except per share data)		December 31				September 30⁽¹⁾				June 30				March 31

Product sales		$	3,907			$	3,877			$	3,893			$	3,618
Gross profit from product sales			3,251				3,272				3,291				3,054
Net income			934				454				1,170				1,125
Earnings per share:
Basic		$	1.09			$	0.50			$	1.26			$	1.21
Diluted		$	1.08			$	0.50			$	1.25			$	1.20

		2010 Quarters ended
(In millions, except per share data)		December 31⁽²⁾				September 30⁽³⁾				June 30				March 31

Product sales		$	3,760			$	3,759			$	3,613			$	3,528
Gross profit from product sales			3,188				3,172				3,060				3,020
Net income			1,022				1,236				1,202				1,167
Earnings per share:
Basic		$	1.09			$	1.29			$	1.25			$	1.19
Diluted		$	1.08			$	1.28			$	1.25			$	1.18

⁽¹⁾	We recorded a $780 million legal settlement charge ($705 million, net of tax) in connection with an agreement in principle to settle allegations relating to our sales and marketing practices.

⁽²⁾

We recorded $113 million of income tax benefit as the result of resolving certain transfer pricing issues with tax authorities for prior periods and a $118 million ($74 million, net of tax) asset impairment charge associated with a strategic decision to optimize our network of manufacturing facilities and improve cost efficiencies.

⁽³⁾	We recorded $38 million of income tax benefit as the result of resolving certain transfer pricing issues with tax authorities for prior periods.