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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net sales $ 2,257 $ 2,126 $ 4,418 $ 4,090
Cost of products sold 632 639 1,282 1,211
Gross profit 1,625 1,487 3,136 2,879
Operating expenses:        
Selling, general and administrative expenses 815 779 1,609 1,497
Research and development expenses 244 222 480 431
Royalty expense 17 20 34 39
Amortization expense 142 135 285 271
Restructuring charges (credits) 1 14 5 17
Contingent consideration expense (benefit) (24) 33 (74) 37
Litigation-related charges (credits) 205 618 208 628
Operating expenses 1,400 1,821 2,547 2,920
Operating income (loss) 225 (334) 589 (41)
Other income (expense):        
Interest expense (58) (59) (115) (118)
Other, net (76) (4) (78) (10)
Income (loss) before income taxes 91 (397) 396 (169)
Income tax expense (benefit) (55) (190) (40) (164)
Net income (loss) $ 146 $ (207) $ 436 $ (5)
Net income (loss) per common share — basic $ 0.11 $ (0.15) $ 0.32 $ 0.00
Net income (loss) per common share — assuming dilution $ 0.11 $ (0.15) $ 0.31 $ 0.00
Weighted-average shares outstanding        
Basic 1,369.8 1,357.4 1,367.6 1,353.9
Assuming dilution 1,391.1 1,357.4 1,390.6 1,353.9