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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales        
Net Sales $ 3,972 $ 4,962 $ 7,860 $ 9,285
Costs and expenses        
Research and development 94 103 192 200
Selling, general and administrative 637 680 1,329 1,364
Total costs and expenses 3,562 4,271 7,118 8,149
Equity method investment net earnings 57 80 86 120
Other (expense) income, net (25) 34 (71) 49
Operating profit 442 805 757 1,305
Non-service pension benefit 14 38 31 77
Interest (expense) income, net (81) 16 (118) 20
Income from operations before income taxes 375 859 670 1,402
Income tax expense 106 65 299 205
Net income from operations 269 794 371 1,197
Less: Non-controlling interest subsidiaries' earnings 8 10 14 13
Net income attributable to common shareowners $ 261 $ 784 $ 357 $ 1,184
Earnings per share (Note 3)        
Basic (in dollars per share) $ 0.30 $ 0.91 $ 0.41 $ 1.37
Diluted (in dollars per share) $ 0.30 $ 0.91 $ 0.41 $ 1.37
Weighted average number of shares outstanding (Note 3)        
Basic (in shares) 866.2 866.2 866.2 866.2
Diluted (in shares) 870.9 866.2 870.9 866.2
Product        
Net sales        
Net Sales $ 3,275 $ 4,139 $ 6,422 $ 7,705
Costs and expenses        
Cost of products and services sold 2,343 2,906 4,580 5,471
Service        
Net sales        
Net Sales 697 823 1,438 1,580
Costs and expenses        
Cost of products and services sold $ 488 $ 582 $ 1,017 $ 1,114