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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net sales $ 2,493 $ 2,379
Cost of products sold 730 672
Gross profit 1,763 1,707
Operating expenses:    
Selling, general and administrative expenses 869 860
Research and development expenses 280 261
Royalty expense 16 18
Amortization expense 160 141
Intangible asset impairment charges 67 1
Contingent consideration expense (benefit) (28) 5
Restructuring charges (credits) 6 13
Litigation-related net charges (credits) (148) 0
Operating expenses 1,222 1,300
Operating income (loss) 541 407
Other income (expense):    
Interest expense (109) (61)
Other, net 25 (23)
Income (loss) before income taxes 457 323
Income tax expense (benefit) 33 26
Net income (loss) $ 424 $ 298
Net income (loss) per common share — basic $ 0.31 $ 0.22
Net income (loss) per common share — assuming dilution $ 0.30 $ 0.21
Weighted-average shares outstanding    
Basic 1,387.7 1,376.5
Assuming dilution 1,408.4 1,396.8