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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net sales $ 9,823 $ 9,048 $ 8,386
Cost of products sold 2,813 2,593 2,424
Gross profit 7,011 6,455 5,962
Operating expenses:      
Selling, general and administrative expenses 3,569 3,294 3,099
Research and development expenses 1,113 997 920
Royalty expense 70 68 79
Amortization expense 599 565 545
Intangible asset impairment charges 35 4 11
Contingent consideration expense (benefit) (21) (80) 29
Restructuring charges (credits) 36 37 28
Litigation-related charges (credits) 103 285 804
Operating expenses 5,504 5,170 5,515
Operating income (loss) 1,506 1,285 447
Other income (expense):      
Interest expense (241) (229) (233)
Other, net 156 (124) (37)
Income (loss) before income taxes 1,422 933 177
Income tax (benefit) expense (249) 828 (170)
Net income (loss) $ 1,671 $ 104 $ 347
Net income (loss) per common share — basic $ 1.21 $ 0.08 $ 0.26
Net income (loss) per common share — assuming dilution $ 1.19 $ 0.08 $ 0.25
Weighted-average shares outstanding      
Basic 1,381.0 1,370.1 1,357.6
Assuming dilution 1,401.4 1,392.7 1,377.2