XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 2,003 $ 2,631 $ 4,546 $ 5,124
Cost of products sold 791 758 1,596 1,488
Gross profit 1,212 1,873 2,950 3,636
Operating expenses:        
Selling, general and administrative expenses 798 968 1,776 1,837
Research and development expenses 242 280 542 559
Royalty expense 8 17 20 32
Amortization expense 197 161 398 321
Intangible asset impairment charges 34 37 233 105
Contingent consideration expense (benefit) 0 10 (108) (18)
Restructuring charges (credits) 3 1 13 7
Litigation-related net charges (credits) 0 15 0 (133)
Operating expenses 1,283 1,489 2,875 2,711
Operating income (loss) (71) 384 75 925
Other income (expense):        
Interest expense (91) (89) (179) (198)
Other, net (18) (150) (54) (125)
Income (loss) before income taxes (181) 145 (159) 602
Income tax expense (benefit) (33) (9) (22) 24
Net income (loss) (147) 154 (137) 578
Preferred stock dividends (5) 0 (5) 0
Net income (loss) available to common stockholders $ (153) $ 154 $ (142) $ 578
Net income (loss) per common share — basic $ (0.11) $ 0.11 $ (0.10) $ 0.42
Net income (loss) per common share — assuming dilution $ (0.11) $ 0.11 $ (0.10) $ 0.41
Weighted-average shares outstanding        
Basic 1,410.9 1,391.0 1,404.1 1,389.4
Assuming dilution 1,410.9 1,408.6 1,404.1 1,408.5