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CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue $ 61,860 $ 60,530 $ 57,350
Cost 27,560 27,842 25,865
Gross profit 34,300 32,687 31,486
Expense and other (income)      
Selling, general and administrative 19,003 18,609 18,745
Research, development and engineering 6,775 6,567 6,488
Intellectual property and custom development income (860) (663) (612)
Other (income) and expense (914) 5,803 873
Interest expense 1,607 1,216 1,155
Total expense and other (income) 25,610 31,531 26,649
Income from continuing operations before income taxes 8,690 1,156 4,837
Provision for/(benefit from) income taxes 1,176 (626) 124
Income from continuing operations 7,514 1,783 4,712
Income/(loss) from discontinued operations, net of tax (12) (143) 1,030
Net income $ 7,502 $ 1,639 [1] $ 5,743 [2]
Assuming dilution      
Continuing operations (in dollars per share) $ 8.15 $ 1.95 $ 5.21
Discontinued operations (in dollars per share) (0.01) (0.16) 1.14
Total (in dollars per share) 8.14 1.80 6.35
Basic      
Continuing operations (in dollars per share) 8.25 1.97 5.26
Discontinued operations (in dollars per share) (0.01) (0.16) 1.15
Total (in dollars per share) $ 8.23 $ 1.82 $ 6.41
Weighted-average number of common shares outstanding      
Assuming dilution (in shares) 922,073,828 912,269,062 904,641,001
Basic (in shares) 911,210,319 902,664,190 895,990,771
Services      
Revenue $ 30,378 $ 30,206 $ 29,225
Cost 21,051 21,062 19,147
Sales      
Revenue 30,745 29,673 27,346
Cost 6,127 6,374 6,184
Financing      
Revenue 737 651 780
Cost $ 382 $ 406 $ 534
[1] 2022 includes the impact of a one-time, non-cash pension settlement charge. Refer to note V, “Retirement-Related Benefits,” for additional information.
[2] Amounts presented have not been recast to exclude discontinued operations.