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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net sales        
Net Sales $ 5,002 $ 4,822 $ 12,862 $ 14,107
Costs and expenses        
Research and development 100 102 292 302
Selling, general and administrative 681 702 2,010 2,066
Total costs and expenses 4,222 4,180 11,340 12,329
Equity method investment net earnings 62 78 148 198
Other income (expense), net 239 (91) 168 (42)
Operating profit 1,081 629 1,838 1,934
Non-service pension benefit 16 47 47 124
Interest (expense) income, net (88) 3 (206) 23
Income from operations before income taxes 1,009 679 1,679 2,081
Income tax expense 261 175 560 380
Net income from operations 748 504 1,119 1,701
Less: Non-controlling interest subsidiaries' earnings 7 12 21 25
Net income attributable to common shareowners $ 741 $ 492 $ 1,098 $ 1,676
Earnings per share (Note 3)        
Basic (in dollars per share) $ 0.86 $ 0.57 $ 1.27 $ 1.94
Diluted (in dollars per share) $ 0.84 $ 0.57 $ 1.25 $ 1.94
Weighted-average number of shares outstanding (Note 3)        
Basic (in shares) 866.4 866.2 866.3 866.2
Diluted (in shares) 881.5 866.2 876.2 866.2
Product        
Net sales        
Net Sales $ 4,193 $ 3,998 $ 10,615 $ 11,703
Costs and expenses        
Cost of products and services sold 2,884 2,784 7,464 8,255
Service        
Net sales        
Net Sales 809 824 2,247 2,404
Costs and expenses        
Cost of products and services sold $ 557 $ 592 $ 1,574 $ 1,706