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Condensed consolidated statement of comprehensive income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
[2]
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Condensed consolidated statement of comprehensive income        
Total Revenue [1] $ 11,416 $ 10,771 $ 22,295 $ 22,161
Product Sales 10,882 10,630 21,448 21,610
Alliance revenue 341 138 627 290
Collaboration Revenue 193 3 220 261
Cost of sales (1,960) (2,998) (3,865) (6,509)
Gross profit 9,456 7,773 18,430 15,652
Distribution expense (131) (129) (265) (254)
Research and development expense (2,667) (2,546) (5,278) (4,679)
Selling, general and administrative expense (4,986) (4,681) (9,045) (9,521)
Other operating income and expense 784 122 1,163 219
Operating profit 2,456 539 5,005 1,417
Finance income 64 18 141 35
Finance expense (431) (311) (795) (647)
Share of after tax (losses)/profits in associates and joint ventures (1) 1 (1) (5)
Profit before tax 2,088 247 4,350 800
Taxation (268) 113 (726) (52)
Profit for the period 1,820 360 3,624 748
Other comprehensive income        
Remeasurement of the defined benefit pension liability 17 696 7 1,031
Net gains on equity investments measured at fair value through other comprehensive income (94) (30) (48) (12)
Fair value movements related to own credit risk on bonds designated as fair value through profit or loss 2 2 4 2
Tax on items that will not be reclassified to profit or loss (29) (181) (5) (275)
Total other comprehensive income that will not be reclassified to profit or loss, net of tax (104) 487 (42) 746
Foreign exchange arising on consolidation (209) (1,107) 105 (1,326)
Foreign exchange arising on designated liabilities in net investment hedges (94) (163) (101) (195)
Fair value movements on cash flow hedges 33 (143) 89 (138)
Fair value movements on cash flow hedges transferred to profit and loss 4 120 (71) 131
Fair value movements on derivatives designated in net investment hedges 24 42 40 34
Costs of hedging (1) (13) (1) (13)
Tax on items that may be reclassified subsequently to profit or loss   45 12 46
Other comprehensive income that may be subsequently to profit or loss, net of tax (243) (1,219) 73 (1,461)
Other comprehensive income/(loss), net of tax (347) (732) 31 (715)
Total comprehensive income/(loss) for the period 1,473 (372) 3,655 33
Profit attributable to:        
Owners of the Parent 1,818 360 3,621 746
Non-controlling interests 2   3 2
Profit for the period 1,820 360 3,624 748
Total comprehensive income/(loss) attributable to:        
Owners of the Parent 1,471 (372) 3,652 33
Non-controlling interests 2   3  
Total comprehensive income/(loss) for the period $ 1,473 $ (372) $ 3,655 $ 33
Basic earnings per $0.25 Ordinary Share $ 1.17 $ 0.23 $ 2.34 $ 0.48
Diluted earnings per $0.25 Ordinary Share $ 1.17 $ 0.23 $ 2.32 $ 0.48
Weighted average number of Ordinary Shares in issue (m) 1,550 1,549 1,549 1,548
Diluted weighted average number of Ordinary Shares in issue (m) 1,560 1,560 1,560 1,561
[1] Effective 1 January 2023, the Group has updated the presentation of Total Revenue. See Note 1 for further details of the presentation of Alliance Revenue.
[2] The Q2 2023 and Q2 2022 information in respect of the three months ended 30 June 2023 and 30 June 2022 respectively included in the Interim Financial Statements have not been reviewed by PricewaterhouseCoopers LLP.