Baxalta Inc (BXLT) [Rocket]

In millions, except per share items	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K
Net sales	6,148	5,952	5,555
Net sales growth	3.3%	7.1%
Cost of sales	2,386	2,443	2,329
Gross margin	3,762	3,509	3,226
Gross margin	61.2%	59.0%	58.1%
Selling, general and administrative expenses	1,442	1,053	1,017
Research and development expenses	1,176	820	595
Net interest expense	48	19	23
Other (income) expense, net	102	-104	-7
Income from continuing operations before income taxes	1,198	1,532	1,613
Income tax expense	270	346	325
Tax rate	22.5%	22.6%	20.1%
Net income from continuing operations	928	1,186	1,288
Income from discontinued operations, net of tax	28	551
Net income	956	1,737	1,288

Income from continuing operations per common share
Basic	0	0	0
Diluted	0	0	0

Income from discontinued operations per common share
Basic	0	0
Diluted	0	0

Net income per common share
Basic	$1.41	$2.57	$1.90
Diluted	$1.40	$2.55	$1.89

Weighted-average number of common shares outstanding
Basic	677	676	676
Diluted	683	681	681

Cash dividends declared per common share	$0.14