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Consolidated Statements of Earnings (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jul. 01, 2012
Jul. 03, 2011
Jul. 01, 2012
Jul. 03, 2011
Sales to customers (Note 9) $ 16,475 $ 16,597 $ 32,614 $ 32,770
Sales to customers (Note 9) Percent to Sales 100.00% 100.00% 100.00% 100.00%
Cost of products sold 5,143 5,172 10,058 9,950
Cost of products sold Percent to Sales 31.20% 31.20% 30.80% 30.40%
Gross profit 11,332 11,425 22,556 22,820
Gross profit Percent to Sales 68.80% 68.80% 69.20% 69.60%
Selling, marketing and administrative expenses 4,965 5,215 9,980 10,271
Selling, marketing and administrative expenses Percent to Sales 30.10% 31.40% 30.60% 31.30%
Research and development expense 1,766 1,882 3,411 3,620
Research and development expense Percent to Sales 10.70% 11.30% 10.50% 11.00%
In-process research and development 429 0 429 0
In-process research and development Percent to sales 2.60% 0.00% 1.30% 0.00%
Interest income (14) (18) (31) (39)
Interest income Percent to Sales (0.10%) (0.10%) (0.10%) (0.10%)
Interest expense, net of portion capitalized 143 129 290 254
Interest expense, net of portion capitalized Percent to Sales 0.90% 0.80% 0.90% 0.80%
Other (income) expense, net 2,008 206 1,397 193
Other (income) expense, net Percent to Sales 12.20% 1.30% 4.30% 0.60%
Restructuring expense 0 589 0 589
Restructuring expense Percent to Sales 0.00% 3.50% 0.00% 1.80%
Earnings before provision for taxes on income 2,035 3,422 7,080 7,932
Earnings before provision for taxes on income Percent to Sales 12.40% 20.60% 21.70% 24.20%
Provision for taxes on income (Note 5) 627 646 1,762 1,680
Provision for taxes on income (Note 5) Percent to Sales 3.90% 3.90% 5.40% 5.10%
NET EARNINGS $ 1,408 $ 2,776 $ 5,318 $ 6,252
NET EARNINGS Percent to Sales 8.50% 16.70% 16.30% 19.10%
NET EARNINGS PER SHARE (Note 8)        
Basic $ 0.51 $ 1.01 $ 1.94 $ 2.28
Diluted $ 0.50 $ 1.00 $ 1.91 $ 2.25
CASH DIVIDENDS PER SHARE $ 0.61 $ 0.57 $ 1.18 $ 1.11
AVG. SHARES OUTSTANDING        
Basic 2,747.4 2,740.5 2,741.7 2,739.6
Diluted 2,798.2 2,781.3 2,792.4 2,778.1