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CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue $ 62,753 $ 61,860 $ 60,530
Cost 27,201 27,560 27,842
Gross profit 35,551 34,300 32,687
Expense and other (income)      
Selling, general and administrative 19,688 19,003 18,609
Research, development and engineering 7,479 6,775 6,567
Intellectual property and custom development income (996) (860) (663)
Other (income) and expense [1] 1,871 (914) 5,803
Interest expense 1,712 1,607 1,216
Total expense and other (income) 29,754 25,610 31,531
Income from continuing operations before income taxes 5,797 8,690 1,156
Provision for/(benefit from) income taxes [1] (218) 1,176 (626)
Income from continuing operations 6,015 7,514 1,783
Income/(loss) from discontinued operations, net of tax 8 (12) (143)
Net income [1] $ 6,023 $ 7,502 $ 1,639
Assuming dilution      
Continuing operations (in dollars per share) [1] $ 6.42 $ 8.15 $ 1.95
Discontinued operations (in dollars per share) [1] 0.01 (0.01) (0.16)
Total (in dollars per share) [1] 6.43 8.14 1.80
Basic      
Continuing operations (in dollars per share) [1] 6.53 8.25 1.97
Discontinued operations (in dollars per share) [1] 0.01 (0.01) (0.16)
Total (in dollars per share) [1] $ 6.53 $ 8.23 $ 1.82
Weighted-average number of common shares outstanding      
Assuming dilution (in shares) 937,161,224 922,073,828 912,269,062
Basic (in shares) 921,767,834 911,210,319 902,664,190
Services      
Revenue $ 29,813 $ 30,378 $ 30,206
Cost 20,529 21,051 21,062
Sales      
Revenue 32,231 30,745 29,673
Cost 6,303 6,127 6,374
Financing      
Revenue 709 737 651
Cost $ 369 $ 382 $ 406
[1] 2024 and 2022 include the impacts of pension settlement charges. Refer to note U, “Retirement-Related Benefits,” for additional information.