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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net sales $ 2,379 $ 2,160
Cost of products sold 672 650
Gross profit 1,707 1,510
Operating expenses:    
Selling, general and administrative expenses 860 794
Research and development expenses 261 235
Royalty expense 18 17
Amortization expense 141 143
Intangible asset impairment charges 1 0
Restructuring charges (credits) 13 4
Contingent consideration expense (benefit) 5 (50)
Litigation-related net charges (credits) 0 3
Operating expenses 1,300 1,146
Operating income (loss) 407 364
Other income (expense):    
Interest expense (61) (57)
Other, net (23) (2)
Income (loss) before income taxes 323 305
Income tax expense (benefit) 26 15
Net income (loss) $ 298 $ 290
Net income (loss) per common share — basic $ 0.22 $ 0.21
Net income (loss) per common share — assuming dilution $ 0.21 $ 0.21
Weighted-average shares outstanding    
Basic 1,376.5 1,365.4
Assuming dilution 1,396.8 1,390.2