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Condensed Consolidated Statement of Earnings - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Condensed Consolidated Statement of Earnings        
Net sales $ 10,223 $ 7,328 $ 20,679 $ 15,054
Cost of products sold, excluding amortization of intangible assets 4,947 3,263 9,348 6,544
Amortization of intangible assets 504 553 1,013 1,114
Research and development 654 564 1,308 1,142
Selling, general and administrative 2,726 2,276 5,509 4,824
Total operating cost and expenses 8,831 6,656 17,178 13,624
Operating earnings 1,392 672 3,501 1,430
Interest expense 134 134 269 273
Interest (income) (11) (9) (22) (27)
Net foreign exchange (gain) loss   (1) 3 4
Other (income) expense, net (79) 22 (140) 21
Earnings from continuing operations before taxes 1,348 526 3,391 1,159
Tax expense (benefit) on earnings from continuing operations 159 (11) 409 78
Earnings from continuing operations 1,189 537 2,982 1,081
Earnings from discontinued operations, net of tax       20
Net Earnings $ 1,189 $ 537 $ 2,982 $ 1,101
Basic Earnings Per Common Share --        
Continuing operations $ 0.67 $ 0.30 $ 1.67 $ 0.61
Discontinued operations       0.01
Net earnings 0.67 0.30 1.67 0.62
Diluted Earnings Per Common Share --        
Continuing operations 0.66 0.30 1.66 0.60
Discontinued operations       0.01
Net earnings $ 0.66 $ 0.30 $ 1.66 $ 0.61
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share 1,779,203 1,772,953 1,778,049 1,770,970
Dilutive Common Stock Options 14,076 12,087 14,369 11,882
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options 1,793,279 1,785,040 1,792,418 1,782,852
Outstanding Common Stock Options Having No Dilutive Effect 2,720 50 2,694 50