| |
| For the Year Ended December 31, (in millions, except per share data) |
2000 |
|
1999 |
|
1998 |
|
| |
| Sales |
$ |
13,994 |
|
$ |
14,089 |
|
$ |
13,406 |
| Cost of goods sold |
|
8,019 |
|
|
7,987 |
|
|
7,293 |
|
| Gross Profit |
|
5,975 |
|
|
6,102 |
|
|
6,113 |
| Selling, general and administrative expenses |
|
2,977 |
|
|
3,295 |
|
|
3,303 |
| Research and Development Costs |
|
784 |
|
|
817 |
|
|
922 |
|
| Earnings from operations |
|
2,214 |
|
|
1,990 |
|
|
1,888 |
| Interest expense |
|
178 |
|
|
142 |
|
|
110 |
| Other income (charges) |
|
96 |
|
|
261 |
|
|
328 |
|
| Earnings before income taxes |
|
2,132 |
|
|
2,109 |
|
|
2,106 |
| Provision for income taxes |
|
725 |
|
|
717 |
|
|
716 |
|
| Net earnings |
$ |
1,407 |
|
$ |
1,392 |
|
$ |
1,390 |
|
| Basic earnings per share |
$ |
4.62 |
|
$ |
4.38 |
|
$ |
4.30 |
|
| Diluted earnings per share |
$ |
4.59 |
|
$ |
4.33 |
|
$ |
4.24 |
|
| Earnings used in basic and diluted earnings per share |
$ |
1,407 |
|
$ |
1,392 |
|
$ |
1,390 |
Number of common shares used in basic earnings
per share |
|
304.9 |
|
|
318.0 |
|
|
323.3 |
| Incremental shares from assumed conversion of options |
|
1.7 |
|
|
3.5 |
|
|
4.5 |
|
Number of common shares used in diluted earnings
per share |
|
306.6 |
|
|
321.5 |
|
|
327.8 |
|
|
The accompanying notes are an integral part of these financial statements.
|
|
|
| |
|
|
