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Quarterly Results (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results (Unaudited)
QUARTERLY RESULTS (UNAUDITED)
The following tables contain selected unaudited statement of operations information for each quarter of 2015 and 2014. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. Our business is affected by seasonality, which historically has resulted in higher sales volume during our fourth quarter. Unaudited quarterly results are as follows (in millions, except per share data):
 
 
Year Ended December 31, 2015 (1)
 
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
Net sales
 
$
35,747

 
$
25,358

 
$
23,185

 
$
22,717

Income (loss) from operations
 
1,108

 
406

 
464

 
255

Income (loss) before income taxes
 
938

 
247

 
362

 
21

Provision for income taxes
 
(453
)
 
(161
)
 
(266
)
 
(71
)
Net income (loss)
 
482

 
79

 
92

 
(57
)
Basic earnings per share
 
1.03

 
0.17

 
0.20

 
(0.12
)
Diluted earnings per share
 
1.00

 
0.17

 
0.19

 
(0.12
)
Shares used in computation of earnings per share:
 
 
 
 
 
 
 
 
Basic
 
470

 
468

 
467

 
465

Diluted
 
481

 
478

 
476

 
465

 
 
Year Ended December 31, 2014 (1)
 
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
Net sales
 
$
29,328

 
$
20,579

 
$
19,340

 
$
19,741

Income (loss) from operations
 
591

 
(544
)
 
(15
)
 
146

Income (loss) before income taxes
 
429

 
(634
)
 
(27
)
 
120

Benefit (provision) for income taxes
 
(205
)
 
205

 
(94
)
 
(73
)
Net income (loss)
 
214

 
(437
)
 
(126
)
 
108

Basic earnings per share
 
0.46

 
(0.95
)
 
(0.27
)
 
0.23

Diluted earnings per share
 
0.45

 
(0.95
)
 
(0.27
)
 
0.23

Shares used in computation of earnings per share:
 
 
 
 
 
 
 
 
Basic
 
464

 
463

 
461

 
460

Diluted
 
472

 
463

 
461

 
468

 ___________________
(1)
The sum of quarterly amounts, including per share amounts, may not equal amounts reported for year-to-date periods. This is due to the effects of rounding and changes in the number of weighted-average shares outstanding for each period.