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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net sales $ 12,682 $ 11,888 $ 9,913
Cost of products sold 3,956 3,711 3,465
Gross profit 8,727 8,177 6,448
Operating expenses:      
Selling, general and administrative expenses 4,520 4,359 3,787
Research and development expenses 1,323 1,204 1,143
Royalty expense 47 49 45
Amortization expense 803 741 789
Goodwill impairment charges 0 0 73
Intangible asset impairment charges 132 370 460
Contingent consideration net expense (benefit) 35 (136) (100)
Restructuring net charges (credits) 24 40 52
Litigation-related net charges (credits) 173 430 278
Gain (Loss) on Disposition of Assets 22 (78) 0
Operating expenses 7,078 6,978 6,528
Operating income (loss) 1,649 1,199 (80)
Other income (expense):      
Interest expense (470) (341) (361)
Other, net (38) 218 362
Income (loss) before income taxes 1,141 1,076 (79)
Income tax expense (benefit) 443 36 2
Net income (loss) 698 1,041 (82)
Preferred stock dividends 55 55 33
Net income (loss) available to common stockholders $ 642 $ 985 $ (115)
Net income (loss) per common share — basic $ 0.45 $ 0.69 $ (0.08)
Net income (loss) per common share — assuming dilution $ 0.45 $ 0.69 $ (0.08)
Weighted-average shares outstanding      
Basic 1,430,500 1,422,300 1,416,700
Assuming dilution 1,439,700 1,433,800 1,416,700