XML 12 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Net sales [1] $ 3,290 $ 3,141 $ 6,201 $ 6,003
Net sales, related party 28 54 66 109
Net sales 3,318 3,195 6,267 6,112
Costs and expenses:        
Cost of products sold [1] 1,278 1,275 2,477 2,440
Selling, general and administrative expenses 478 499 896 964
Gain on divestiture       (4,861)
Amortization expense 6 6 12 12
Operating income 1,556 1,415 2,882 7,557
Interest and debt expense 150 152 299 326
Interest income (3) (2) (5) (5)
Other expense (income), net 11 (1) 15 251
Income before income taxes 1,398 1,266 2,573 6,985
Provision for income taxes 479 470 874 2,624
Net income $ 919 $ 796 $ 1,699 $ 4,361
Net income per share:        
Basic $ 0.64 $ 0.56 $ 1.19 $ 3.06
Diluted 0.64 0.56 1.19 3.05
Dividends declared per share $ 0.51 $ 0.42 $ 1.02 $ 0.84
[1] Excludes excise taxes of $1,083 million and $1,120 million for the three months ended June 30, 2017 and 2016, respectively; and $2,065 million and $2,150 million for the six months ended June 30, 2017 and 2016, respectively.