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CONSOLIDATED INCOME STATEMENT - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
[1]
Sep. 30, 2022
Sep. 30, 2021
[1]
Revenue $ 14,107 $ 13,251 $ 43,840 $ 40,656
Cost 6,677 6,145 20,784 18,670
Gross profit 7,430 7,106 23,055 21,985
Expense and other (income)        
Selling, general and administrative 4,391 4,306 13,843 13,842
Research, development and engineering 1,611 1,606 4,963 4,863
Intellectual property and custom development income (121) (153) (418) (431)
Other (income) and expense 5,755 244 5,921 891
Interest expense 295 290 903 852
Total expense and other (income) 11,931 6,293 25,212 20,017
Income/(loss) from continuing operations before income taxes (4,501) 813 (2,156) 1,968
Provision for/(benefit from) income taxes (1,287) (224) (1,070) (282)
Income/(loss) from continuing operations (3,214) 1,037 (1,087) 2,250
Income from discontinued operations, net of tax 18 93 16 1,160
Net income/(loss) $ (3,196) [2] $ 1,130 [3] $ (1,071) [2] $ 3,410 [3]
Assuming dilution        
Continuing operations (in dollars per share) $ (3.55) $ 1.14 $ (1.21) $ 2.49
Discontinued operations (in dollars per share) 0.02 0.10 0.02 1.28
Total (in dollars per share) (3.54) 1.25 (1.19) 3.77
Basic        
Continuing operations (in dollars per share) (3.55) 1.16 (1.21) 2.51
Discontinued operations (in dollars per share) 0.02 0.10 0.02 1.30
Total (in dollars per share) $ (3.54) $ 1.26 $ (1.19) $ 3.81
Weighted-average number of common shares outstanding        
Assuming dilution (in shares) 904,076,831 905,953,114 901,621,217 903,977,539
Basic (in shares) 904,076,831 897,097,073 901,621,217 895,257,004
Services.        
Revenue $ 7,365 $ 7,251 $ 22,708 $ 21,549
Cost 5,168 4,650 15,915 14,014
Sales        
Revenue 6,565 5,814 [4] 20,652 18,502 [4]
Cost 1,389 1,363 [4] 4,555 4,241 [4]
Financing.        
Revenue 176 186 [4] 479 606 [4]
Cost $ 120 $ 132 [4] $ 314 $ 416 [4]
[1] Reclassified to reflect discontinued operations presentation.
[2] Includes the impact of a one-time, non-cash pension settlement charge. Refer to note 18, "Retirement-Related Benefits," for additional information.
[3] Amounts presented have not been recast to exclude discontinued operations.
[4] Reclassified to conform to current year presentation.