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Consolidated Results of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Sales and revenues:      
Sales and revenues $ 54,722 $ 45,462 $ 38,537
Cost of goods sold 36,997 31,260 28,044
Operating costs:      
Selling, general and administrative expenses 5,478 4,999 4,383
Research and development expenses 1,850 1,842 1,853
Interest expense of Financial Products 722 646 596
Goodwill impairment charge 0 0 595
Other operating (income) expenses 1,382 2,255 1,904
Total operating costs 46,429 41,002 37,375
Operating profit 8,293 4,460 1,162
Interest expense excluding Financial Products 404 531 505
Other income (expense) (67) 153 (518)
Consolidated profit before taxes 7,822 4,082 139
Provision (benefit) for income taxes 1,698 3,339 192
Profit (loss) of consolidated companies 6,124 743 (53)
Equity in profit (loss) of unconsolidated affiliated companies 24 16 (6)
Profit (loss) of consolidated and affiliated companies 6,148 759 (59)
Less: Profit (loss) attributable to noncontrolling interests 1 5 8
Profit (loss) [1] $ 6,147 $ 754 $ (67)
Profit (loss) per common share (in dollars per share) $ 10.39 $ 1.27 $ (0.11)
Profit (loss) per common share - diluted (in dollars per share) [2],[3] $ 10.26 $ 1.26 $ (0.11)
Weighted-average common shares outstanding (millions)      
Basic (in shares) 591.4 591.8 584.3
Diluted (in shares) [2],[3] 599.4 599.3 584.3
Machinery, Energy & Transportation      
Sales and revenues:      
Sales and revenues $ 51,822 $ 42,676 $ 35,773
Financial Service [Member]      
Sales and revenues:      
Sales and revenues $ 2,900 $ 2,786 $ 2,764
[1] 1 Profit (loss) attributable to common shareholders.
[2] 2 Diluted by assumed exercise of stock-based compensation awards, using the treasury stock method.
[3] 3 In 2016, the assumed exercise of stock-based compensation awards was not considered because the impact would be antidilutive.