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Quarterly Results (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
Unaudited quarterly results are as follows (in millions, except per share data):
 
 
Year Ended December 31, 2015 (1)
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Net sales
 
$
22,717

 
$
23,185

 
$
25,358

 
$
35,747

Operating income
 
255

 
464

 
406

 
1,108

Income before income taxes
 
21

 
362

 
247

 
938

Provision for income taxes
 
(71
)
 
(266
)
 
(161
)
 
(453
)
Net income (loss)
 
(57
)
 
92

 
79

 
482

Basic earnings per share
 
(0.12
)
 
0.20

 
0.17

 
1.03

Diluted earnings per share
 
(0.12
)
 
0.19

 
0.17

 
1.00

Shares used in computation of earnings per share:
 
 
 
 
 
 
 
 
Basic
 
465

 
467

 
468

 
470

Diluted
 
465

 
476

 
478

 
481

 
 
Year Ended December 31, 2016 (1)
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Net sales
 
$
29,128

 
$
30,404

 
$
32,714

 
$
43,741

Operating income
 
1,071

 
1,285

 
575

 
1,255

Income before income taxes
 
1,056

 
1,179

 
491

 
1,166

Provision for income taxes
 
(475
)
 
(307
)
 
(229
)
 
(414
)
Net income (loss)
 
513

 
857

 
252

 
749

Basic earnings per share
 
1.09

 
1.81

 
0.53

 
1.57

Diluted earnings per share
 
1.07

 
1.78

 
0.52

 
1.54

Shares used in computation of earnings per share:
 
 
 
 
 
 
 
 
Basic
 
471

 
473

 
474

 
476

Diluted
 
481

 
483

 
485

 
486

 ___________________
(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.