XML 66 R55.htm IDEA: XBRL DOCUMENT v3.10.0.1
RECENT ACCOUNTING PRONOUNCEMENTS - Effect of Topic 606 and ASU 2017-07 Adoption on Income Statement (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 24, 2017
Sep. 30, 2018
Sep. 24, 2017
Net sales        
Total net sales $ 14,318 $ 12,341 $ 39,351 $ 36,116
Cost of sales        
Total cost of sales (12,397) (10,741) (34,019) (31,454)
Gross profit 1,921 1,600 5,332 4,662
Other income, net 42 77 151 133
Operating profit 1,963 1,677 5,483 4,795
Interest expense (177) (162) (497) (477)
Other non-operating expense, net (211) (218) (631) (644)
Earnings before income taxes 1,575 1,297 4,355 3,674
Income tax expense (102) (334) (562) (967)
Net earnings $ 1,473 $ 963 $ 3,793 $ 2,707
Earnings per common share        
Basic (in dollars per share) $ 5.18 $ 3.35 $ 13.31 $ 9.38
Diluted (in dollars per share) 5.14 3.32 13.21 9.29
Cash dividends paid per common share (in dollars per share) $ 2.00 $ 1.82 $ 6 $ 5.46
Products        
Net sales        
Total net sales $ 11,918 $ 10,628 $ 32,830 $ 30,863
Cost of sales        
Total cost of sales (10,701) (9,544) (29,391) (27,850)
Services        
Net sales        
Total net sales 2,400 1,713 6,521 5,253
Cost of sales        
Total cost of sales (2,070) (1,584) (5,726) (4,724)
Other unallocated, net        
Cost of sales        
Total cost of sales $ 374 387 $ 1,194 1,120
Historical        
Net sales        
Total net sales   12,169   35,911
Cost of sales        
Total cost of sales   (10,818)   (31,982)
Gross profit   1,351   3,929
Other income, net   77   133
Operating profit   1,428   4,062
Interest expense   (162)   (477)
Other non-operating expense, net   (7)   (8)
Earnings before income taxes   1,259   3,577
Income tax expense   (320)   (933)
Net earnings   $ 939   $ 2,644
Earnings per common share        
Basic (in dollars per share)   $ 3.27   $ 9.16
Diluted (in dollars per share)   3.24   9.08
Cash dividends paid per common share (in dollars per share)   $ 1.82   $ 5.46
Historical | Products        
Net sales        
Total net sales   $ 10,496   $ 30,837
Cost of sales        
Total cost of sales   (9,481)   (27,919)
Historical | Services        
Net sales        
Total net sales   1,673   5,074
Cost of sales        
Total cost of sales   (1,513)   (4,547)
Historical | Other unallocated, net        
Cost of sales        
Total cost of sales   176   484
Adjustments for | ASC 606        
Net sales        
Total net sales   172   205
Cost of sales        
Total cost of sales   (134)   (108)
Gross profit   38   97
Other income, net   0   0
Operating profit   38   97
Interest expense   0   0
Other non-operating expense, net   0   0
Earnings before income taxes   38   97
Income tax expense   (14)   (34)
Net earnings   $ 24   $ 63
Earnings per common share        
Basic (in dollars per share)   $ 0.08   $ 0.22
Diluted (in dollars per share)   $ 0.08   $ 0.21
Adjustments for | ASU 2017-07        
Net sales        
Total net sales   $ 0   $ 0
Cost of sales        
Total cost of sales   211   636
Gross profit   211   636
Other income, net   0   0
Operating profit   211   636
Interest expense   0   0
Other non-operating expense, net   (211)   (636)
Earnings before income taxes   0   0
Income tax expense   0   0
Net earnings   $ 0   $ 0
Earnings per common share        
Basic (in dollars per share)   $ 0.00   $ 0.00
Diluted (in dollars per share)   $ 0.00   $ 0.00
Adjustments for | Products | ASC 606        
Net sales        
Total net sales   $ 132   $ 26
Cost of sales        
Total cost of sales   (63)   69
Adjustments for | Products | ASU 2017-07        
Net sales        
Total net sales   0   0
Cost of sales        
Total cost of sales   0   0
Adjustments for | Services | ASC 606        
Net sales        
Total net sales   40   179
Cost of sales        
Total cost of sales   (71)   (177)
Adjustments for | Services | ASU 2017-07        
Net sales        
Total net sales   0   0
Cost of sales        
Total cost of sales   0   0
Adjustments for | Other unallocated, net | ASC 606        
Cost of sales        
Total cost of sales   0   0
Adjustments for | Other unallocated, net | ASU 2017-07        
Cost of sales        
Total cost of sales   $ 211   $ 636