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In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-05-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 8-K | 10-K | 10-K | 10-K |
Total revenues | 3,815.7 | 3,316.7 | 2,988.1 | 2,660.1 | 2,660.1 | 2,231.9 | 1,847.9 | 1,607.3 |
Revenue growth | 15.0% | 11.0% | 12.3% | 19.2% | | 20.8% | 15.0% | 15.9% |
Cost of goods sold | 1,877.9 | 1,678.2 | 1,585.2 | 1,451.1 | 1,383.0 | 1,273.6 | 657.8 | 565.9 |
Gross profit | 1,937.8 | 1,638.5 | 1,402.9 | 1,209.0 | 1,277.1 | 958.3 | 1,190.1 | 1,041.4 |
Gross margin | 50.8% | 49.4% | 46.9% | 45.4% | 48.0% | 42.9% | 64.4% | 64.8% |
Selling, general and administrative [+] | 849.7 | 762.3 | 707.7 | 625.4 | 635.7 | 535.6 | 450.0 | 421.9 |
Sales and marketing | 503.9 | 438.5 | 345.6 | 291.4 | 301.7 | 253.2 | 228.8 | 202.2 |
General and administrative | 345.8 | 323.8 | 362.1 | 334.0 | 334.0 | 282.4 | 221.2 | 219.7 |
Research and development | 706.3 | 560.4 | 492.6 | 434.0 | 491.8 | 355.8 | 287.8 | 270.2 |
Other operating expenses | | | | | | | 402.2 | 221.5 |
Adjusted EBITDA | 789.3 | 710.0 | 559.3 | 509.2 | 509.2 | 349.1 | 267.0 | 168.2 |
Adjusted EBITDA margin | 20.7% | 21.4% | 18.7% | 19.1% | 19.1% | 15.6% | 14.4% | 10.5% |
Stock-based compensation | 207.9 | 191.5 | 147.0 | 125.5 | 125.5 | 76.4 | 56.8 | 40.4 |
EBITDA [+] | 581.4 | 518.5 | 412.3 | 383.7 | 383.7 | 272.7 | 210.2 | 127.8 |
EBITDA growth | 12.1% | 25.8% | 7.5% | 40.7% | | 29.7% | 64.5% | 40.6% |
EBITDA margin | 15.2% | 15.6% | 13.8% | 14.4% | 14.4% | 12.2% | 11.4% | 8.0% |
Depreciation | 71.7 | 75.6 | 90.2 | 97.4 | 234.1 | 88.8 | 69.9 | 61.3 |
EBITA | 509.7 | 442.9 | 322.1 | 286.3 | 149.6 | 183.9 | 140.3 | 66.5 |
EBITA margin | 13.4% | 13.4% | 10.8% | 10.8% | 5.6% | 8.2% | 7.6% | 4.1% |
Amortization of intangibles | 127.9 | 127.1 | 119.5 | 136.7 | | 117.0 | 90.2 | 97.5 |
EBIT [+] | 381.8 | 315.8 | 202.6 | 149.6 | 149.6 | 66.9 | 50.1 | -31.0 |
EBIT growth | 20.9% | 55.9% | 35.4% | 123.6% | | 33.5% | -261.6% | -49.9% |
EBIT margin | 10.0% | 9.5% | 6.8% | 5.6% | 5.6% | 3.0% | 2.7% | -1.9% |
Non-recurring items | -0.3 | 43.6 | | | | | | |
Interest expense | 126.0 | 91.3 | 92.1 | 98.4 | 98.4 | 83.0 | 57.2 | 69.2 |
Interest expense | 126.0 | 91.3 | 92.1 | 98.4 | 98.4 | 83.0 | 57.2 | 69.2 |
Other income (expense), net [+] | -2.5 | -676.3 | 15.9 | 21.8 | 21.8 | 122.9 | -14.4 | -20.4 |
Gain (loss) on debt retirement | | | -14.8 | | | -7.3 | | -21.4 |
Other | -2.5 | -1.6 | 22.0 | 6.9 | | 7.0 | -1.9 | 1.0 |
Pre-tax income | 253.6 | -495.4 | 126.4 | 73.0 | 73.0 | 106.8 | -21.5 | -120.6 |
Income taxes | 10.8 | -1.3 | -12.0 | -9.0 | -9.0 | -18.9 | 0.4 | -0.2 |
Tax rate | 4.3% | 0.3% | | | | | | 0.2% |
Minority interest | 0.5 | 1.0 | 1.4 | 4.9 | | 3.4 | -5.4 | -44.8 |
Earnings from continuing ops | 242.3 | -495.1 | 137.0 | 77.1 | 77.1 | 122.3 | -16.5 | -75.6 |
Earnings from discontinued ops | | | | | | 14.1 | | |
Net income | 242.3 | -495.1 | 137.0 | 77.1 | 77.1 | 136.4 | -16.5 | -75.6 |
Net margin | 6.4% | -14.9% | 4.6% | 2.9% | 2.9% | 6.1% | -0.9% | -4.7% |
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Basic EPS [+] | $1.44 | ($2.94) | $0.79 | $0.50 | $0.50 | $1.12 | ($0.21) | ($1.29) |
Growth | -149.2% | -471.7% | 59.0% | -55.8% | | -644.0% | -84.0% | -65.1% |
Diluted EPS [+] | $1.42 | ($2.94) | $0.75 | $0.43 | $0.43 | $0.69 | ($0.21) | ($1.29) |
Growth | -148.2% | -489.4% | 77.3% | -38.5% | | -434.2% | -84.0% | -65.1% |
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Growth | | | | | | | | -100.0% |
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Shares outstanding (basic) [+] | 167.9 | 168.6 | 173.4 | 155.2 | 155.2 | 108.8 | 79.8 | 58.7 |
Growth | -0.4% | -2.8% | 11.7% | 42.7% | | 36.3% | 36.1% | 51.1% |
Shares outstanding (diluted) [+] | 171.1 | 168.6 | 181.7 | 181.4 | 181.4 | 177.1 | 79.8 | 58.7 |
Growth | 1.5% | -7.2% | 0.2% | 2.4% | | 121.8% | 36.1% | 51.1% |
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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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