| STMicroelectronics N.V. | |||
| CONSOLIDATED STATEMENTS OF INCOME | |||
| (in millions of U.S. dollars, except per share data ($)) | |||
| Twelve months ended | |||
| December 31, | December 31, | ||
| 2023 | 2022 | ||
| (Unaudited) | (Audited) | ||
| Net sales | 17,239 | 16,083 | |
| Other revenues | 47 | 45 | |
| NET REVENUES | 17,286 | 16,128 | |
| Cost of sales | (8,999) | (8,493) | |
| GROSS PROFIT | 8,287 | 7,635 | |
| Selling, general and administrative | (1,631) | (1,454) | |
| Research and development | (2,100) | (1,901) | |
| Other income and expenses, net | 55 | 159 | |
| Total operating expenses | (3,676) | (3,196) | |
| OPERATING INCOME | 4,611 | 4,439 | |
| Interest income, net | 171 | 58 | |
| Other components of pension benefit costs | (19) | (11) | |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 4,763 | 4,486 | |
| Income tax expense | (541) | (520) | |
| NET INCOME | 4,222 | 3,966 | |
| Net income attributable to noncontrolling interest | (11) | (6) | |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 4,211 | 3,960 | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 4.66 | 4.37 | |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 4.46 | 4.19 | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 944.2 | 946.2 | |
STMicroelectronics Reports Q4 and FY 2023 Financial Results
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