(In millions - except per share amounts)	1996		1995		1994
Net revenues	$ 20,847		$ 16,202		$ 11,521
Cost of sales	9,164		7,811		5,576
Research and development	1,808		1,296		1,111
Marketing, general and administrative	2,322		1,843		1,447
Operating costs and expenses	13,294		10,950		8,134
Operating income	7,553		5,252		3,387
Interest expense	(25)		(29)		(57)
Interest income and other, net	406		415		273
Income before taxes	7,934		5,638		3,603
Provision for taxes	2,777		2,072		1,315
Net income	$ 5,157		$ 3,566		$ 2,288
Earnings per common and
common equivalent share	$ 5.81		$ 4.03		$ 2.62
Weighted average common and
common equivalent shares outstanding	888		884		874
See accompanying notes.

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