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Consolidated Income Statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue (Note C) $ 77,147 $ 79,591 $ 79,139
Cost 40,659 42,655 42,196
Gross profit 36,488 36,936 36,943
Expense and other (income)      
Selling, general and administrative 20,604 19,366 19,680
Research, development and engineering (Note F) 5,989 5,379 5,590
Intellectual property and custom development income (648) (1,026) (1,466)
Other (income) and expense (968) 1,152 1,125
Interest expense (Notes P&T) 1,344 723 615
Total expense and other (income) 26,322 25,594 25,543
Income from continuing operations before income taxes 10,166 11,342 11,400
Provision for income taxes (Note G) 731 2,619 5,642
Income from continuing operations 9,435 8,723 5,758
Income/(loss) from discontinued operations, net of tax (4) 5 (5)
Net income $ 9,431 $ 8,728 $ 5,753
Assuming dilution      
Continuing operations (in dollars per share) (Note H) $ 10.57 $ 9.51 $ 6.14
Discontinued operations (in dollars per share) (Note H) (0.01) 0.01 0.00
Total (in dollars per share) (Note H) 10.56 9.52 6.14
Basic      
Continuing operations (in dollars per share) (Note H) 10.63 9.56 6.17
Discontinued operations (in dollars per share) (Note H) 0.00 0.01 0.00
Total (in dollars per share) (Note H) $ 10.63 $ 9.57 $ 6.17
Weighted-average number of common shares outstanding      
Assuming dilution (in shares) 892,813,376 916,315,714 937,385,625
Basic (in shares) 887,235,105 912,048,072 932,828,295
Services      
Revenue (Note C) $ 47,493 $ 49,257 $ 48,652
Cost 32,491 33,687 33,399
Sales      
Revenue (Note C) 28,252 28,735 28,772
Cost 7,263 7,835 7,587
Financing      
Revenue (Note C) 1,402 1,599 1,715
Cost $ 904 $ 1,132 $ 1,210