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Consolidated Statements of Earnings - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 26, 2021
Sep. 27, 2020
Sep. 26, 2021
Sep. 27, 2020
Net sales        
Total net sales $ 16,028 $ 16,495 $ 49,315 $ 48,366
Cost of sales        
Total cost of sales (13,726) (14,359) (42,676) (41,926)
Severance and restructuring charges 0 0 (36) 0
Gross profit 2,302 2,136 6,639 6,440
Other (expense) income, net (8) 11 29 (85)
Operating profit 2,294 2,147 6,668 6,355
Interest expense (141) (145) (423) (442)
Non-service FAS pension (expense) income (1,572) 54 (1,385) 164
Other non-operating income (expense), net 98 0 200 (29)
Earnings from continuing operations before income taxes 679 2,056 5,060 6,048
Income tax expense (65) (303) (794) (952)
Net earnings from continuing operations 614 1,753 4,266 5,096
Net loss from discontinued operations 0 (55) 0 (55)
Net earnings $ 614 $ 1,698 $ 4,266 $ 5,041
Basic        
Continuing operations (in dollars per share) $ 2.22 $ 6.28 $ 15.37 $ 18.19
Discontinued operations (in dollars per share) 0 (0.20) 0 (0.20)
Basic earnings per common share (in dollars per share) 2.22 6.08 15.37 17.99
Diluted        
Continuing operations (in dollars per share) 2.21 6.25 15.32 18.12
Discontinued operations (in dollars per share) 0 (0.20) 0 (0.20)
Diluted earnings per common share (in dollars per share) 2.21 6.05 15.32 17.92
Cash dividends paid per common share (in dollars per share) $ 2.60 $ 2.40 $ 7.80 $ 7.20
Products        
Net sales        
Total net sales $ 13,475 $ 13,869 $ 41,486 $ 40,607
Cost of sales        
Total cost of sales (11,838) (12,370) (36,985) (36,204)
Services        
Net sales        
Total net sales 2,553 2,626 7,829 7,759
Cost of sales        
Total cost of sales (2,332) (2,363) (7,000) (6,915)
Other unallocated, net        
Cost of sales        
Total cost of sales $ 444 $ 374 $ 1,345 $ 1,193