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CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue $ 14,968 $ 14,752 $ 45,199 $ 44,479
Cost 6,548 6,729 20,087 20,446
Gross profit 8,420 8,023 25,112 24,033
Expense and other (income):        
Selling, general and administrative 4,911 4,458 14,823 14,212
Research, development and engineering 1,876 1,685 5,512 5,027
Intellectual property and custom development income (238) (190) (696) (618)
Other (income) and expense 2,244 (215) 1,694 (721)
Interest expense 429 412 1,288 1,202
Total expense and other (income) 9,222 6,150 22,621 19,102
Income/(loss) from continuing operations before income taxes (802) 1,873 2,491 4,931
Provision for/(benefit from) income taxes (485) 159 (597) 702
Income/(loss) from continuing operations (317) 1,714 3,088 4,229
Income/(loss) from discontinued operations, net of tax (13) (10) 21 (15)
Net income/(loss) [1] $ (330) $ 1,704 $ 3,109 $ 4,214
Assuming dilution:        
Continuing operations (in dollars per share) [1] $ (0.34) $ 1.86 $ 3.30 $ 4.59
Discontinued operations (in dollars per share) [1] (0.01) (0.01) 0.02 (0.02)
Total (in dollars per share) [1] (0.36) 1.84 3.32 4.58
Basic:        
Continuing operations (in dollars per share) [1] (0.34) 1.88 3.36 4.65
Discontinued operations (in dollars per share) [1] (0.01) (0.01) 0.02 (0.02)
Total (in dollars per share) [1] $ (0.36) $ 1.87 $ 3.38 $ 4.63
Weighted-average number of common shares outstanding:        
Assuming dilution (in shares) 923,577,526 923,673,300 935,425,233 920,323,692
Basic (in shares) 923,577,526 912,790,387 920,347,948 910,057,739
Services        
Revenue $ 7,453 $ 7,541 $ 22,329 $ 22,618
Cost 5,048 5,217 15,414 15,821
Sales        
Revenue 7,334 7,025 22,329 21,296
Cost 1,404 1,419 4,393 4,329
Financing        
Revenue 180 186 542 566
Cost $ 95 $ 94 $ 281 $ 297
[1] 2024 includes the impact of a one-time, non-cash pension settlement charge. Refer to note 18, "Retirement-Related Benefits," for additional information.