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Consolidated Statements of Earnings - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 27, 2015
Sep. 28, 2014
Sep. 27, 2015
Sep. 28, 2014
Net sales        
Products $ 8,810 $ 8,602 $ 25,820 $ 25,992
Services 2,651 2,512 7,395 7,078
Total net sales 11,461 11,114 33,215 33,070
Cost of sales        
Products (7,869) (7,659) (22,922) (22,928)
Services (2,326) (2,228) (6,493) (6,241)
Severance charges [1] (35)   (35)  
Other unallocated, net 25 48 125 86
Total cost of sales (10,205) (9,839) (29,325) (29,083)
Gross profit 1,256 1,275 3,890 3,987
Other income, net 98 117 265 263
Operating profit 1,354 1,392 4,155 4,250
Interest expense (104) (82) (301) (253)
Other non-operating income, net 1 1 6 3
Earnings before income taxes 1,251 1,311 3,860 4,000
Income tax expense (386) (423) (1,188) (1,290)
Net earnings $ 865 $ 888 $ 2,672 $ 2,710
Earnings per common share        
Basic earnings per common share in USD $ 2.80 $ 2.81 $ 8.57 $ 8.54
Diluted earnings per common share in USD 2.77 2.76 8.45 8.39
Cash dividends paid per common share in USD $ 1.50 $ 1.33 $ 4.50 $ 3.99
[1] Severance charges for 2015 consist of amounts associated with the planned elimination of certain positions at our IS&GS business segment (Note 9, under the caption "Restructuring Charges"). Severance charges for initiatives that are not significant are included in business segment operating profit.