| QUARTERLY INFORMATION (UNAUDITED) |
NOTE 21 — QUARTERLY INFORMATION (UNAUDITED)
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(In millions, except per share amounts) |
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Quarter Ended |
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September 30 |
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December 31 |
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March 31 |
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June 30 |
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Total |
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Fiscal Year 2019 |
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Revenue |
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$ |
29,084 |
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$ |
32,471 |
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$ |
30,571 |
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$ |
33,717 |
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$ |
125,843 |
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Gross margin |
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19,179 |
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20,048 |
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20,401 |
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23,305 |
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82,933 |
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Operating income |
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9,955 |
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10,258 |
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10,341 |
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12,405 |
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42,959 |
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Net income (a) |
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8,824 |
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8,420 |
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8,809 |
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13,187 |
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39,240 |
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Basic earnings per share |
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1.15 |
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1.09 |
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1.15 |
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1.72 |
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5.11 |
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Diluted earnings per share (b) |
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1.14 |
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1.08 |
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1.14 |
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1.71 |
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5.06 |
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Fiscal Year 2018 |
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Revenue |
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$ |
24,538 |
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$ |
28,918 |
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$ |
26,819 |
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$ |
30,085 |
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$ |
110,360 |
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Gross margin |
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16,260 |
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17,854 |
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17,550 |
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20,343 |
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72,007 |
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Operating income |
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7,708 |
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8,679 |
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8,292 |
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10,379 |
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35,058 |
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Net income (loss) (c) |
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6,576 |
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(6,302 |
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7,424 |
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8,873 |
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16,571 |
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Basic earnings (loss) per share |
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0.85 |
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(0.82 |
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0.96 |
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1.15 |
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2.15 |
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Diluted earnings (loss) per share (d) |
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0.84 |
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(0.82 |
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0.95 |
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1.14 |
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2.13 |
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(a) |
Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information. |
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(b) |
Reflects the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers, which decreased (increased) diluted EPS $0.02 for the second quarter, $(0.34) for the fourth quarter, and $(0.31) for fiscal year 2019. |
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(c) |
Reflects the net charge (benefit) related to the enactment of the TCJA of $13.8 billion for the second quarter, $(104) million for the fourth quarter, and $13.7 billion for fiscal year 2018. |
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(d) |
Reflects the net charge (benefit) related to the enactment of the TCJA, which decreased (increased) diluted EPS $1.78 for the second quarter, $(0.01) for the fourth quarter, and $1.75 for fiscal year 2018. |
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