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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net sales      
Total Net sales $ 4,485 $ 4,218 $ 3,722
Cost of sales:      
Total Cost of sales 2,385 2,237 2,012
Gross profit 2,100 1,981 1,710
Operating expenses:      
Selling and marketing 503 483 448
Research and development 447 444 389
General and administrative 323 328 301
Amortization of intangible assets 103 97 184
Acquisition and integration costs 22 8 50
Exit and restructuring costs 10 11 16
Total Operating expenses 1,408 1,371 1,388
Operating income 692 610 322
Other expenses:      
Foreign exchange loss (6) (5) (1)
Interest expense, net (89) (91) (227)
Other, net 1 10 (6)
Total Other expenses, net (94) (86) (234)
Income before income tax 598 524 88
Income tax expense 54 103 71
Net income $ 544 $ 421 $ 17
Basic earnings per share (in USD per share) $ 10.08 $ 7.86 $ 0.33
Diluted earnings per share (in USD per share) $ 9.97 $ 7.76 $ 0.32
Tangible Products      
Net sales      
Total Net sales $ 3,907 $ 3,685 $ 3,223
Cost of sales:      
Total Cost of sales 2,006 1,871 1,677
Services and Software      
Net sales      
Total Net sales 578 533 499
Cost of sales:      
Total Cost of sales $ 379 $ 366 $ 335