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Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net revenues $ 17,286 $ 16,128 $ 12,761
Cost of sales (8,999) (8,493) (7,435)
Gross profit 8,287 7,635 5,326
Selling, general and administrative expenses (1,631) (1,454) (1,323)
Research and development expenses (2,100) (1,901) (1,723)
Other income and expenses, net 55 159 141
Impairment, restructuring charges and other related closure costs 0 0 (2)
Operating income 4,611 4,439 2,419
Interest income (expense), net 171 58 (29)
Other components of pension benefit costs (19) (11) (10)
Loss on financial instruments, net 0 0 (43)
Income (loss) before income tax benefit (expense) 4,763 4,486 2,337
Income tax expense (541) (520) (331)
Net income 4,222 3,966 2,006
Net income attributable to noncontrolling interest (11) (6) (6)
Net income attributable to parent company stockholders $ 4,211 $ 3,960 $ 2,000
Earnings per share, basic ( in usd per share) $ 4.66 $ 4.37 $ 2.21
Earnings per share, diluted (in usd per share) $ 4.46 $ 4.19 $ 2.16
Revenues from sale of products      
Net revenues $ 17,239 $ 16,083 $ 12,729
Other revenues      
Net revenues $ 47 $ 45 $ 32