XML 28 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Results of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Sales and revenues:      
Sales of Machinery, Energy & Transportation $ 44,147 $ 52,142 $ 52,694
Revenues of Financial Products 2,864 3,042 2,962
Total sales and revenues 47,011 55,184 55,656
Operating costs:      
Cost of goods sold 33,742 39,767 40,727
Selling, general and administrative expenses 5,199 5,697 5,547
Research and development expenses 2,165 2,135 2,046
Interest expense of Financial Products 587 624 727
Goodwill impairment charge 0 0 0
Other operating (income) expenses 2,062 1,633 981
Total operating costs 43,755 49,856 50,028
Operating profit 3,256 5,328 5,628
Interest expense excluding Financial Products 507 484 465
Other income (expense) 106 239 (35)
Consolidated profit before taxes 2,855 5,083 5,128
Provision (benefit) for income taxes 742 1,380 1,319
Profit of consolidated companies 2,113 3,703 3,809
Equity in profit (loss) of unconsolidated affiliated companies 0 8 (6)
Profit of consolidated and affiliated companies 2,113 3,711 3,803
Less: Profit (loss) attributable to noncontrolling interests 11 16 14
Profit [1] $ 2,102 $ 3,695 $ 3,789
Profit per common share (in dollars per share) $ 3.54 $ 5.99 $ 5.87
Profit per common share - diluted (in dollars per share) [2] $ 3.50 $ 5.88 $ 5.75
Weighted-average common shares outstanding (millions)      
Basic (in shares) 594.3 617.2 645.2
Diluted (in shares) [2] 601.3 628.9 658.6
Cash dividends declared per common share (in dollars per share) $ 3.01 $ 2.70 $ 2.32
[1] 1 Profit attributable to common stockholders.
[2] 2 Diluted by assumed exercise of stock-based compensation awards, using the treasury stock method.