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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net sales $ 2,126 $ 1,843 $ 4,090 $ 3,611
Cost of products sold 639 540 1,211 1,060
Gross profit 1,487 1,303 2,879 2,551
Operating expenses:        
Selling, general and administrative expenses 779 700 1,497 1,367
Research and development expenses 222 220 431 412
Royalty expense 20 18 39 36
Amortization expense 135 116 271 229
Intangible asset impairment charges 0 9 0 9
Contingent consideration expense (benefit) 33 19 37 46
Restructuring charges 14 3 17 9
Litigation-related charges (credits) 618 (1) 628 192
Pension termination charges 0 0 0 8
Operating expenses 1,821 1,084 2,920 2,308
Operating income (loss) (334) 219 (41) 243
Other income (expense):        
Interest expense (59) (106) (118) (167)
Other, net (4) (8) (10) (22)
Income (loss) before income taxes (397) 105 (169) 54
Income tax expense (benefit) (190) 3 (164) (47)
Net income (loss) $ (207) $ 102 $ (5) $ 101
Net income (loss) per common share — basic $ 0.15 $ (0.08) $ (0.00) $ (0.08)
Net income (loss) per common share — assuming dilution $ 0.15 $ (0.08) $ (0.00) $ (0.07)
Weighted-average shares outstanding        
Basic 1,357.4 1,341.3 1,353.9 1,337.5
Assuming dilution 1,357.4 1,361.8 1,353.9 1,359.7