Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

Selected Quarterly Financial Data (unaudited)

Quarterly financial data for 2015 and 2014 is as follows (tables in millions, except per share amounts):

2015	Q1 2015		Q2 2015		Q3 2015		Q4 2015
Revenues	$	5,613	$	5,997	$	6,079	$	7,014
Gross profit	3,339		3,587		3,705		4,360
Net income attributable to EMC Corporation	252		487		480		771
Net income per weighted average share, diluted: common shareholders	$	0.13	$	0.25	$	0.25	$	0.39
2014	Q1 2014		Q2 2014		Q3 2014		Q4 2014
Revenues	$	5,479	$	5,880	$	6,032	$	7,048
Gross profit	3,347		3,654		3,743		4,505
Net income attributable to EMC Corporation	392		589		587		1,147
Net income per weighted average share, diluted: common shareholders	$	0.19	$	0.28	$	0.28	$	0.56

The second quarter of 2015 includes a VMware GSA settlement charge which was recorded as a reduction of revenue of $42 million, or $0.02 per diluted share, and a fair value adjustment on an asset held for sale of $12 million, or $0.01 per diluted share. The fourth quarter of 2015 includes merger-related costs of $14 million, or $0.01 per diluted share, special tax items of $39 million, or $0.02 per diluted share and a tax benefit related to the expected R&D tax credit for 2015 of $61 million, or $0.03 per diluted share.

The second and fourth quarters of 2014 include a gain on previously held interests in strategic investments and joint venture of $45 million, or $0.02 per diluted share and $33 million, or $0.02 per diluted share, respectively. The second quarter of 2014 also includes an impairment of strategic investment of $24 million, or $0.01 per diluted share. The fourth quarter of 2014 includes a tax benefit related to the expected R&D tax credit for 2014 of $62 million, or $0.03 per diluted share.