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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Sales and revenues:        
Sales of Machinery, Energy & Transportation $ 10,285 $ 12,758 $ 33,829 $ 38,642
Revenues of Financial Products 677 791 2,152 2,298
Total sales and revenues 10,962 13,549 35,981 40,940
Operating costs:        
Cost of goods sold 7,954 9,634 25,559 29,268
Selling, general and administrative expenses 1,225 1,446 3,932 4,175
Research and development expenses 534 533 1,612 1,557
Interest expense of Financial Products 142 157 440 470
Other operating (income) expenses 394 387 1,068 1,205
Total operating costs 10,249 12,157 32,611 36,675
Operating profit 713 1,392 3,370 4,265
Interest expense excluding Financial Products 127 128 381 358
Other income (expense) (68) 117 76 236
Consolidated profit before taxes 518 1,381 3,065 4,143
Provision (benefit) for income taxes 144 364 870 1,201
Profit of consolidated companies 374 1,017 2,195 2,942
Equity in profit (loss) of unconsolidated affiliated companies (3) 4 1 6
Profit of consolidated and affiliated companies 371 1,021 2,196 2,948
Less: Profit (loss) attributable to noncontrolling interests 3 4 7 10
Profit [1] $ 368 $ 1,017 $ 2,189 $ 2,938
Profit per common share (in dollars per share) $ 0.63 $ 1.66 $ 3.66 $ 4.73
Profit per common share - diluted (in dollars per share) [2] $ 0.62 $ 1.63 $ 3.62 $ 4.64
Weighted-average common shares outstanding (millions)        
Basic (in shares) 588.4 611.5 597.9 620.6
Diluted (in shares) [2] 594.8 622.8 605.3 632.7
Cash dividends declared per common share (in dollars per share) $ 0.00 $ 0.00 $ 1.47 $ 1.30
[1] 1 Profit attributable to common stockholders.
[2] 2 Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.