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CONSOLIDATED INCOME STATEMENT (unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021
Profit or loss [abstract] |  |  |  |
Net sales to third parties | $ 2,200 | $ 2,094 | $ 4,375 | $ 4,004
Other revenues | 17 | 16 | 31 | 36
Net sales and other revenues | 2,217 | 2,110 | 4,406 | 4,040
Cost of net sales | (999) | (875) | (1,966) | (1,755)
Cost of other revenues | (14) | (15) | (28) | (34)
Gross profit | 1,204 | 1,220 | 2,412 | 2,251
Selling, general & administration | (803) | (785) | (1,544) | (1,484)
Research & development | (181) | (178) | (347) | (344)
Other income | 3 | 5 | 12 | 14
Other expense | (23) | (33) | (87) | (59)
Operating income | 200 | 229 | 446 | 378
Interest expense | (31) | (30) | (60) | (61)
Other financial income & expense | (22) | (8) | (39) | (17)
Income before taxes | 147 | 191 | 347 | 300
Taxes | 1 | (40) | (31) | (65)
Net income | $ 148 | $ 151 | $ 316 | $ 235
Earnings per share ($) |  |  |  |
Basic (in dollars per share) | $ 0.30 | $ 0.31 | $ 0.64 | $ 0.48
Diluted (in dollars per share) | $ 0.30 | $ 0.31 | $ 0.64 | $ 0.48
Weighted average number of shares outstanding |  |  |  |
Basic (in shares) | 491.7 | 490.0 | 491.3 | 489.9
Diluted (in shares) | 494.3 | 493.2 | 494.2 | 492.8

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- Definition The amount of expense relating to selling, general and administrative activities of the entity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 85 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_85&doctype=Standard -URIDate 2022-03-24 + Details
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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 2022-03-24 -Paragraph 70 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=33&code=ifrs-tx-2022-en-r&anchor=para_70_b&doctype=Standard -URIDate 2022-03-24 + Details
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- References No definition available. + Details
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