Unaudited Selected Quarterly Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

17. UNAUDITED SELECTED QUARTERLY DATA

Unaudited quarterly financial results are set forth in the following tables. It is the company’s long-standing practice to establish actual interim closing dates using a “fiscal” calendar in which we close our books on a Friday near each quarter-end date, in order to normalize the potentially disruptive effects of quarterly closings on business processes. This practice is only used at interim periods within a reporting year.

2020
In millions, except per share amounts	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr
Sales	$	8,620	$	8,884	$	9,083	$	10,212
Operating income	934		994		985		1,152
Net earnings	868		1,005		986		330
Basic earnings per share	5.18		6.02		5.91		1.98
Diluted earnings per share	5.15		6.01		5.89		1.97
Weighted-average common shares outstanding	167.7		166.9		166.8		166.8
Weighted-average diluted shares outstanding	168.4		167.3		167.3		167.4

2019
In millions, except per share amounts	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr
Sales	$	8,189	$	8,456	$	8,475	$	8,721
Operating income	936		946		951		1,136
Net earnings (loss)	863		861		933		(409)
Basic earnings (loss) per share	5.08		5.07		5.52		(2.43)
Diluted earnings (loss) per share(1)	5.06		5.06		5.49		(2.43)
Weighted-average common shares outstanding	170.0		169.7		169.1		168.4
Weighted-average diluted shares outstanding(1)	170.7		170.3		169.9		168.4

(1)Fourth quarter 2019 excludes the dilutive effect of awards granted to employees under stock-based compensation plans as such awards would be antidilutive.