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In millions, except per share items | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
North America | 4,314.0 | 4,293.2 | 5,130.7 | 5,763.3 | 5,182.2 | 4,619.9 | |
Europe | 4,153.3 | 4,292.2 | 4,107.2 | 3,072.7 | 2,320.8 | 1,614.6 | |
Rest of World | 3,723.2 | 3,385.4 | 3,236.0 | 2,800.2 | 2,440.7 | 2,026.5 | |
Specialty | | | | | | | 1,027.8 |
Other | | | | | | | 5,881.3 |
Total revenues [+] | 11,500.5 | 11,433.9 | 11,907.7 | 11,076.9 | 9,429.3 | 7,719.6 | 6,909.1 |
Products | 11,370.3 | 11,268.7 | 11,760.0 | | 9,362.6 | 7,646.5 | 6,856.6 |
Other | | | | | 66.7 | 73.1 | 52.5 |
Revenue growth [+] | 0.6% | -4.0% | 7.5% | 17.5% | 22.1% | 11.7% | |
North America | 0.5% | -16.3% | -11.0% | 11.2% | 12.2% | | |
Europe | -3.2% | 4.5% | 33.7% | 32.4% | 43.7% | | |
Rest of World | 10.0% | 4.6% | 15.6% | 14.7% | 20.4% | | |
Cost of goods sold | 7,602.9 | 7,432.3 | 7,124.6 | 6,379.9 | 5,213.2 | 4,191.6 | 3,868.8 |
Gross profit | 3,897.6 | 4,001.6 | 4,783.1 | 4,697.0 | 4,216.1 | 3,528.0 | 3,040.3 |
Gross margin | 33.9% | 35.0% | 40.2% | 42.4% | 44.7% | 45.7% | 44.0% |
Selling, general and administrative | 2,563.6 | 2,441.0 | 2,575.7 | 2,498.5 | 2,180.7 | 1,625.7 | 1,408.5 |
Research and development | 639.9 | 704.5 | 783.3 | 826.8 | 671.9 | 581.8 | 507.8 |
Other operating expenses | 78.3 | 144.5 | | | | | -11.5 |
EBITDA [+] | 2,635.1 | 2,821.5 | 3,229.9 | 2,894.7 | 2,395.6 | 1,887.1 | 1,651.5 |
EBITDA growth | -6.6% | -12.6% | 11.6% | 20.8% | 26.9% | 14.3% | |
EBITDA margin | 22.9% | 24.7% | 27.1% | 26.1% | 25.4% | 24.4% | 23.9% |
Depreciation | 436.6 | 503.5 | 368.4 | 327.7 | 217.4 | 200.5 | 152.3 |
EBITA | 2,198.5 | 2,318.0 | 2,861.5 | 2,567.0 | 2,178.2 | 1,686.6 | 1,499.2 |
EBITA margin | 19.1% | 20.3% | 24.0% | 23.2% | 23.1% | 21.8% | 21.7% |
Amortization of intangibles | 1,582.7 | 1,606.4 | 1,437.4 | 1,195.3 | 814.7 | 366.1 | 363.7 |
EBIT [+] | 615.8 | 711.6 | 1,424.1 | 1,371.7 | 1,363.5 | 1,320.5 | 1,135.5 |
EBIT growth | -13.5% | -50.0% | 3.8% | 0.6% | 3.3% | 16.3% | |
EBIT margin | 5.4% | 6.2% | 12.0% | 12.4% | 14.5% | 17.1% | 16.4% |
Non-recurring items [+] | -99.7 | -194.0 | -13.1 | 672.5 | -97.4 | -32.1 | |
Legal settlement | -21.4 | -49.5 | -13.1 | 672.5 | -97.4 | -32.1 | |
Interest expense | 517.3 | 542.3 | 534.6 | 454.8 | 339.4 | 333.2 | 313.3 |
Interest expense | 517.3 | 542.3 | 534.6 | 454.8 | 339.4 | 333.2 | 313.3 |
Other income (expense), net | -43.8 | -64.9 | 0.4 | -122.7 | -206.1 | -44.9 | -74.9 |
Pre-tax income | 154.4 | 298.4 | 903.0 | 121.7 | 915.4 | 974.5 | 747.3 |
Income taxes | 137.6 | -54.1 | 207.0 | -358.3 | 67.7 | 41.4 | 120.8 |
Tax rate | 89.1% | | 22.9% | | 7.4% | 4.2% | 16.2% |
Minority interest | | | | | -0.1 | -3.7 | -2.8 |
Net income | 16.8 | 352.5 | 696.0 | 480.0 | 847.6 | 929.4 | 623.7 |
Net margin | 0.1% | 3.1% | 5.8% | 4.3% | 9.0% | 12.0% | 9.0% |
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Basic EPS [+] | $0.03 | $0.69 | $1.30 | $0.94 | $1.80 | $2.49 | $1.63 |
Growth | -95.2% | -47.4% | 39.2% | -47.9% | -27.8% | 52.8% | |
Diluted EPS [+] | $0.03 | $0.68 | $1.30 | $0.92 | $1.70 | $2.34 | $1.58 |
Growth | -95.2% | -47.4% | 40.6% | -45.9% | -27.0% | 47.7% | |
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Shares outstanding (basic) [+] | 515.7 | 514.5 | 534.5 | 513.0 | 472.2 | 373.7 | 383.3 |
Growth | 0.2% | -3.7% | 4.2% | 8.6% | 26.4% | -2.5% | |
Shares outstanding (diluted) [+] | 516.5 | 516.5 | 536.7 | 520.5 | 497.4 | 398.0 | 394.5 |
Growth | 0.0% | -3.8% | 3.1% | 4.6% | 25.0% | 0.9% | |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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