Menu Consolidated Statements of Income Years ended December 31 ($ millions) 2008 2007 Net sales 25,269 $24,462 $22,923 Operating expenses Cost of sales Selling, general and administrative expenses Research, development and related expenses Loss/(gain) from sale of business 3,379 12,735 11,713 ,245 5,015 5,066 1,404 1,368 1,522 23 (849) (1,074) 20,051 18,269 17,227 5,218 6,193 5,969 Total operating expenses Operating income Interest expenses and income Interest expense Interest income 210 (105) (132) (51) 78 215 122 Total interest expense 110 71 Income before income taxes Provision for income taxes Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest Net income 5,108 6,115 5,625 1,588 1,964 1,723 3,520 4,151 3,902 51 $ 3,460 $ 4,096 $3,851 60 Consolidated Balance Sheets s millions) 20082007 Assets