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Consolidated Statement of Results of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sales and revenues:        
Sales and revenues $ 12,397 $ 9,881 $ 37,173 $ 30,513
Operating costs:        
Cost of goods sold 8,617 6,919 25,510 21,298
Selling, general and administrative expenses 1,340 1,126 3,943 3,426
Research and development expenses 427 344 1,247 1,041
Other operating (income) expenses 238 370 854 1,114
Total operating costs 10,733 8,896 31,906 27,340
Operating profit 1,664 985 5,267 3,173
Other income (expense) 225 14 751 265
Consolidated profit before taxes 1,775 863 5,642 3,054
Provision (benefit) for income taxes 368 187 1,313 839
Profit of consolidated companies 1,407 676 4,329 2,215
Equity in profit (loss) of unconsolidated affiliated companies 21 (5) 44 8
Profit of consolidated and affiliated companies 1,428 671 4,373 2,223
Less: Profit (loss) attributable to the noncontrolling interests 2 3 4 5
Profit $ 1,426 [1] $ 668 [1] $ 4,369 [2] $ 2,218 [2]
Profit per common share (in dollars per share) $ 2.62 $ 1.23 $ 8.00 $ 4.08
Profit per common share - diluted (in dollars per share) $ 2.60 [3] $ 1.22 [3] $ 7.94 [4] $ 4.05 [4]
Weighted-average common shares outstanding (millions)        
Basic (in shares) 544.0 542.3 545.8 543.9
Diluted (in shares) 547.6 [3] 546.4 [3] 550.2 [4] 547.8 [4]
Machinery, Energy & Transportation        
Sales and revenues:        
Sales and revenues $ 11,707 $ 9,228 $ 35,091 $ 28,452
Financial Products        
Sales and revenues:        
Sales and revenues 690 653 2,082 2,061
Operating costs:        
Interest expense of Financial Products 111 137 352 461
All other excluding Financial Products        
Operating costs:        
Interest expense excluding Financial Products $ 114 $ 136 $ 376 $ 384
[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.