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CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 14,752 $ 14,107 $ 44,479 $ 43,840
Cost 6,729 6,677 20,446 20,784
Gross profit 8,023 7,430 24,033 23,055
Expense and other (income):        
Selling, general and administrative 4,458 4,391 14,212 13,843
Research, development and engineering 1,685 1,611 5,027 4,963
Intellectual property and custom development income (190) (121) (618) (418)
Other (income) and expense (215) 5,755 (721) 5,921
Interest expense 412 295 1,202 903
Total expense and other (income) 6,150 11,931 19,102 25,212
Income/(loss) from continuing operations before income taxes 1,873 (4,501) 4,931 (2,156)
Provision for/(benefit from) income taxes 159 (1,287) 702 (1,070)
Income/(loss) from continuing operations 1,714 (3,214) 4,229 (1,087)
Income/(loss) from discontinued operations, net of tax (10) 18 (15) 16
Net income/(loss) $ 1,704 $ (3,196) [1] $ 4,214 $ (1,071) [1],[2]
Assuming dilution:        
Continuing operations (in dollars per share) $ 1.86 $ (3.55) $ 4.59 $ (1.21)
Discontinued operations (in dollars per share) (0.01) 0.02 (0.02) 0.02
Total (in dollars per share) 1.84 (3.54) 4.58 (1.19)
Basic:        
Continuing operations (in dollars per share) 1.88 (3.55) 4.65 (1.21)
Discontinued operations (in dollars per share) (0.01) 0.02 (0.02) 0.02
Total (in dollars per share) $ 1.87 $ (3.54) $ 4.63 $ (1.19)
Weighted-average number of common shares outstanding:        
Assuming dilution (in shares) 923,673,300 904,076,831 920,323,692 901,621,217
Basic (in shares) 912,790,387 904,076,831 910,057,739 901,621,217
Services        
Revenue $ 7,541 $ 7,365 $ 22,618 $ 22,708
Cost 5,217 5,168 15,821 15,915
Sales        
Revenue 7,025 6,565 21,296 20,652
Cost 1,419 1,389 4,329 4,555
Financing        
Revenue 186 176 566 479
Cost $ 94 $ 120 $ 297 $ 314
[1] Includes the impact of a one-time, non-cash pension settlement charge. Refer to note 18, "Retirement-Related Benefits," for additional information.
[2] ncludes immaterial cash flows from discontinued operations.