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Consolidated Statements of Earnings (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 25, 2011
Sep. 30, 2012
Sep. 25, 2011
Net sales        
Products $ 9,495 $ 9,680 $ 28,186 $ 27,293
Services 2,374 2,439 6,897 6,995
Total net sales 11,869 12,119 35,083 34,288
Cost of sales        
Products (8,413) (8,667) (24,844) (24,361)
Services (2,154) (2,138) (6,186) (6,241)
Severance charges (23) [1] (39) [1] (23) [1] (136) [1]
Other unallocated costs (298) (279) (892) (834)
Total cost of sales (10,888) (11,123) (31,945) (31,572)
Gross profit 981 996 3,138 2,716
Other income, net 117 45 172 182
Operating profit 1,098 1,041 3,310 2,898
Interest expense (97) (89) (289) (258)
Other non-operating income (expense), net 45 (3) 93 25
Earnings from continuing operations before income taxes 1,046 949 3,114 2,665
Income tax expense (319) (284) (938) (696)
Net earnings from continuing operations 727 665 2,176 1,969
Net earnings from discontinued operations   35   3
Net earnings $ 727 $ 700 $ 2,176 $ 1,972
Basic        
Continuing operations, in USD per common share $ 2.25 $ 2.01 $ 6.72 $ 5.78
Discontinued operations, in USD per common share   $ 0.11   $ 0.01
Basic earnings per common share in USD $ 2.25 $ 2.12 $ 6.72 $ 5.79
Diluted        
Continuing operations, in USD per common share $ 2.21 $ 1.99 $ 6.62 $ 5.72
Discontinued operations, in USD per common share   $ 0.11   $ 0.01
Diluted earnings per common share in USD $ 2.21 $ 2.10 $ 6.62 $ 5.73
Cash dividends paid per common share in USD $ 1.00 $ 0.75 $ 3.00 $ 2.25
[1] Severance charges for 2012 consisted of amounts, net of state tax benefits, associated with the elimination of certain positions at our Electronic Systems business segment. For 2011, severance charges consisted of amounts related to actions taken at various business segments as well as Corporate Headquarters (Note 8, under the caption "Severance Activities"). Severance charges for initiatives that are not significant are included in business segment operating profit.