| STMicroelectronics N.V. | ||
| CONSOLIDATED STATEMENTS OF INCOME | ||
| (in millions of U.S. dollars, except per share data ($)) | ||
| Nine months ended | ||
| September 26, | September 28, | |
| 2020 | 2019 | |
| (Unaudited) | (Unaudited) | |
| Net sales | 6,975 | 6,779 |
| Other revenues | 9 | 23 |
| NET REVENUES | 6,984 | 6,802 |
| Cost of sales | (4,449) | (4,187) |
| GROSS PROFIT | 2,535 | 2,615 |
| Selling, general and administrative | (802) | (808) |
| Research and development | (1,126) | (1,111) |
| Other income and expenses, net | 71 | 49 |
| Impairment, restructuring charges and other related closure costs | (12) | (2) |
| Total operating expenses | (1,869) | (1,872) |
| OPERATING INCOME | 666 | 743 |
| Interest income (expense), net | (12) | 2 |
| Other components of pension benefit costs | (8) | (12) |
| Income (loss) on equity-method investments | 1 | 1 |
| Loss on financial instruments, net | (26) | - |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 621 | 734 |
| Income tax expense | (96) | (93) |
| NET INCOME | 525 | 641 |
| Net income attributable to noncontrolling interest | - | (1) |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY | 525 | 640 |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.59 | 0.71 |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.57 | 0.71 |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 916.4 | 901.6 |
STMicroelectronics Reports 2020 Third Quarter Financial Results
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