| STMicroelectronics N.V. | ||
| CONSOLIDATED STATEMENTS OF INCOME | ||
| (in millions of U.S. dollars, except per share data ($)) | ||
| Twelve months ended | ||
| December 31, | December 31, | |
| 2019 | 2018 | |
| (Unaudited) | (Audited) | |
| Net sales | 9,529 | 9,612 |
| Other revenues | 27 | 52 |
| NET REVENUES | 9,556 | 9,664 |
| Cost of sales | (5,860) | (5,803) |
| GROSS PROFIT | 3,696 | 3,861 |
| Selling, general and administrative | (1,093) | (1,095) |
| Research and development | (1,498) | (1,398) |
| Other income and expenses, net | 103 | 53 |
| Impairment, restructuring charges and other related closure costs | (5) | (21) |
| Total operating expenses | (2,493) | (2,461) |
| OPERATING INCOME | 1,203 | 1,400 |
| Interest income (expense), net | 1 | (7) |
| Other components of pension benefit costs | (16) | (11) |
| Income (loss) on equity-method investments | 1 | 8 |
| Loss on financial instruments, net | - | (1) |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 1,189 | 1,389 |
| Income tax expense | (156) | (96) |
| NET INCOME | 1,033 | 1,293 |
| Net income attributable to noncontrolling interest | (1) | (6) |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY | 1,032 | 1,287 |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1.15 | 1.43 |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1.14 | 1.41 |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 903.6 | 911.0 |
STMicroelectronics Reports Q4 and FY 2019 Financial Results
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