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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net product sales $ 859 $ 798 $ 2,640 $ 2,251
Other revenue 0 1 1 2
Total revenues 859 799 2,641 2,253
Cost of sales 157 71 310 190
Operating expenses:        
Research and development 195 195 613 551
Selling, general and administrative 271 230 798 695
Amortization of purchased intangible assets 80 82 240 242
Change in fair value of contingent consideration 4 41 32 31
Acquisition-related costs 0 0 0 2
Restructuring expenses 72 1 99 2
Impairment of intangible assets 0 0 31 0
Total operating expenses 622 549 1,813 1,523
Operating income 80 179 518 540
Other income and expense:        
Investment income 5 5 13 8
Interest expense (25) (24) (73) (72)
Other expense (2) (1) 0 (4)
Income before income taxes 58 159 458 472
Income tax (benefit) expense (20) 65 45 166
Net income $ 78 $ 94 $ 413 $ 306
Earnings per common share        
Basic $ 0.35 $ 0.42 $ 1.84 $ 1.37
Diluted $ 0.35 $ 0.42 $ 1.83 $ 1.35
Shares used in computing earnings per common share        
Basic 223 224 224 224
Diluted 225 226 226 226