| STMicroelectronics N.V. | ||
| CONSOLIDATED STATEMENTS OF INCOME | ||
| (in millions of U.S. dollars, except per share data ($)) | ||
| Nine months ended | ||
| September 28, | September 29, | |
| 2019 | 2018 | |
| (Unaudited) | (Unaudited) | |
| Net sales | 6,779 | 6,978 |
| Other revenues | 23 | 38 |
| NET REVENUES | 6,802 | 7,016 |
| Cost of sales | (4,187) | (4,214) |
| GROSS PROFIT | 2,615 | 2,802 |
| Selling, general and administrative | (808) | (810) |
| Research and development | (1,111) | (1,054) |
| Other income and expenses, net | 49 | 38 |
| Impairment, restructuring charges and other related closure costs | (2) | (20) |
| Total operating expenses | (1,872) | (1,846) |
| OPERATING INCOME | 743 | 956 |
| Interest income (expense), net | 2 | (8) |
| Other components of pension benefit costs | (12) | (9) |
| Income (loss) on equity-method investments | 1 | 3 |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 734 | 942 |
| Income tax expense | (93) | (68) |
| NET INCOME | 641 | 874 |
| Net income attributable to noncontrolling interest | (1) | (5) |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY | 640 | 869 |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.71 | 0.97 |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.71 | 0.95 |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 901.6 | 912.8 |
STMicroelectronics Reports 2019 Third Quarter Financial Results
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