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CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue $ 18,123 $ 19,161 $ 35,694 $ 37,342
Cost 9,423 10,151 19,071 20,290
Gross profit 8,700 9,010 16,622 17,053
Expense and other (income):        
Selling, general and administrative 5,248 5,456 11,203 10,147
Research, development and engineering 1,582 1,407 3,207 2,840
Intellectual property and custom development income (203) (222) (319) (323)
Other (income) and expense 179 (747) 361 (820)
Interest expense 323 348 649 558
Total expense and other (income) 7,129 6,242 15,101 12,402
Income from continuing operations before income taxes 1,571 2,768 1,522 4,651
Provision for/(benefit from) income taxes 209 269 (1,017) 558
Income from continuing operations 1,362 2,499 2,538 4,093
Income/(loss) from discontinued operations, net of tax (1) (1) (2) (4)
Net income $ 1,361 $ 2,498 $ 2,536 $ 4,089
Assuming dilution:        
Continuing operations (in dollars per share) $ 1.52 $ 2.81 $ 2.83 $ 4.58
Discontinued operations (in dollars per share) 0.00 0.00 0.00 0.00
Total (in dollars per share) 1.52 2.81 2.83 4.58
Basic:        
Continuing operations (in dollars per share) 1.53 2.82 2.85 4.61
Discontinued operations (in dollars per share) 0.00 0.00 0.00 0.00
Total (in dollars per share) $ 1.53 $ 2.82 $ 2.85 $ 4.61
Weighted-average number of common shares outstanding:        
Assuming dilution (in shares) 894,939,080 890,831,801 894,989,159 892,371,164
Basic (in shares) 889,435,166 886,273,682 888,702,256 887,927,612
Services        
Revenue $ 10,937 $ 11,836 [1] $ 22,311 $ 23,751 [1]
Cost 7,520 8,181 [1] 15,363 16,453 [1]
Sales        
Revenue 6,918 6,974 [1] 12,813 12,836 [1]
Cost 1,739 1,741 [1] 3,363 3,344 [1]
Financing        
Revenue 268 351 570 756
Cost $ 165 $ 228 $ 345 $ 492
[1] Reclassified to conform to current period presentation. Refer to note 1, “Basis of Presentation,” for additional information.