v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Total revenues $ 6,960 $ 6,667
Costs and expenses:    
Cost of goods sold 1,445 1,540
Research and development expenses 1,372 1,379
Acquired in-process research and development expenses 107 253
Selling, general and administrative expenses 1,451 1,258
Total costs and expenses 4,374 4,430
Operating income 2,586 2,237
Interest expense 240 260
Other (income) expense, net (235) 328
Income before income taxes 2,580 1,649
Income tax expense 559 334
Net income $ 2,021 $ 1,315
Basic earnings per share (in dollars per share) $ 1.63 $ 1.06
Diluted earnings per share (in dollars per share) $ 1.61 $ 1.04
Shares used in basic earnings per share calculation (in shares) 1,242 1,246
Shares used in diluted earnings per share calculation (in shares) 1,254 1,259
Product sales    
Revenues:    
Total revenues $ 6,946 $ 6,613
Royalty, contract and other revenues    
Revenues:    
Total revenues $ 14 $ 54