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Consolidated Statement of Results 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
Sales and revenues:        
Sales and revenues $ 9,881 $ 12,758 $ 30,513 $ 40,656
Operating costs:        
Cost of goods sold 6,919 8,569 21,298 27,513
Selling, general and administrative expenses 1,126 1,251 3,426 3,879
Research and development expenses 344 431 1,041 1,307
Other operating (income) expenses 370 298 1,114 946
Total operating costs 8,896 10,738 27,340 34,216
Operating profit 985 2,020 3,173 6,440
Other income (expense) 14 88 265 316
Consolidated profit before taxes 863 2,005 3,054 6,447
Provision (benefit) for income taxes 187 518 839 1,470
Profit of consolidated companies 676 1,487 2,215 4,977
Equity in profit (loss) of unconsolidated affiliated companies (5) 7 8 20
Profit of consolidated and affiliated companies 671 1,494 2,223 4,997
Less: Profit (loss) attributable to the noncontrolling interests 3 0 5 2
Profit $ 668 [1] $ 1,494 [1] $ 2,218 [2] $ 4,995 [2]
Profit per common share (in dollars per share) $ 1.23 $ 2.69 $ 4.08 $ 8.84
Profit per common share - diluted (in dollars per share) $ 1.22 [3] $ 2.66 [3] $ 4.05 [4] $ 8.75 [4]
Weighted-average common shares outstanding (millions)        
Basic (in shares) 542.3 556.3 543.9 565.2
Diluted (in shares) 546.4 [3] 561.2 [3] 547.8 [4] 570.8 [4]
Machinery, Energy & Transportation        
Sales and revenues:        
Sales and revenues $ 9,228 $ 11,974 $ 28,452 $ 38,369
Financial Products        
Sales and revenues:        
Sales and revenues 653 784 2,061 2,287
Operating costs:        
Interest Expense 137 189 461 571
All other excluding Financial Products        
Operating costs:        
Interest Expense $ 136 $ 103 $ 384 $ 309
[1] Profit attributable to common shareholders.
[2] Profit attributable to common shareholders.
[3] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.
[4] Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.