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CONSOLIDATED INCOME STATEMENT (unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020
Profit or loss [abstract] |  |  |  |
Net sales to third parties | $ 2,094 | $ 1,198 | $ 4,004 | $ 3,020
Other revenues | 16 | 16 | 36 | 35
Net sales and other revenues | 2,110 | 1,214 | 4,040 | 3,055
Cost of net sales | (875) | (854) | (1,755) | (1,806)
Cost of other revenues | (15) | (15) | (34) | (32)
Gross profit | 1,220 | 345 | 2,251 | 1,217
Selling, general & administration | (785) | (595) | (1,484) | (1,272)
Research & development | (178) | (163) | (344) | (302)
Other income | 5 | 9 | 14 | 18
Other expense | (33) | (62) | (59) | (155)
Operating income/(loss) | 229 | (466) | 378 | (494)
Interest expense | (30) | (30) | (61) | (61)
Other financial income & expense | (8) | (6) | (17) | (16)
Income/(loss) before taxes | 191 | (502) | 300 | (571)
Taxes | (40) | 80 | (65) | 92
Net income/(loss) | $ 151 | $ (422) | $ 235 | $ (479)
Earnings/(loss) per share ($) |  |  |  |
Basic (in dollars per share) | $ 0.31 | $ (0.86) | $ 0.48 | $ (0.98)
Diluted (in dollars per share) | $ 0.31 | $ (0.86) | $ 0.48 | $ (0.98)
Weighted average number of shares outstanding |  |  |  |
Basic (in shares) | 490.0 | 489.0 | 489.9 | 488.8
Diluted (in shares) | 493.2 | 489.0 | 492.8 | 488.8

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- Definition The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2020-01-01 -Paragraph 70 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=33&code=ifrs-tx-2020-en-r&anchor=para_70_b&doctype=Standard -URIDate 2020-01-01 + Details
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- References No definition available. + Details
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