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In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Total revenues | 1,662 | 1,602 | 1,474 | 1,365 | 1,258 | 1,157 | 1,020 |
Revenue growth | 3.7% | 8.7% | 8.0% | 8.5% | 8.7% | 13.4% | |
Cost of goods sold | 952 | 818 | 758 | 687 | 686 | 589 | 526 |
Gross profit | 710 | 784 | 716 | 678 | 572 | 568 | 494 |
Gross margin | 42.7% | 48.9% | 48.6% | 49.7% | 45.5% | 49.1% | 48.4% |
Selling, general and administrative | 14 | | | | | | 286 |
Other operating expenses | 588 | 611 | 563 | 480 | 408 | 350 | 12 |
EBITDA [+] | 142 | 208 | 187 | 222 | 185 | 235 | 210 |
EBITDA growth | -31.7% | 11.2% | -15.8% | 20.0% | -21.3% | 11.9% | |
EBITDA margin | 8.5% | 13.0% | 12.7% | 16.3% | 14.7% | 20.3% | 20.6% |
Depreciation | 27 | 24 | 22 | 18 | 13 | 9 | 8 |
EBITA | 115 | 184 | 165 | 204 | 172 | 226 | 202 |
EBITA margin | 6.9% | 11.5% | 11.2% | 14.9% | 13.7% | 19.5% | 19.8% |
Amortization of intangibles | 7 | 11 | 12 | 6 | 8 | 8 | 6 |
EBIT [+] | 108 | 173 | 153 | 198 | 164 | 218 | 196 |
EBIT growth | -37.6% | 13.1% | -22.7% | 20.7% | -24.8% | 11.2% | |
EBIT margin | 6.5% | 10.8% | 10.4% | 14.5% | 13.0% | 18.8% | 19.2% |
Non-recurring items [+] | 14 | | | | | | 3 |
Asset impairment | 14 | | | | | | |
Interest expense, net [+] | | | | -6 | -2 | -2 | -2 |
Interest expense | 31 | 39 | 57 | 62 | 23 | 1 | |
Interest income | | | | 6 | 2 | 2 | 2 |
Other income (expense), net [+] | 30 | 34 | 53 | 62 | 23 | 1 | 1 |
Other non-ooperating expenses | | | | | | | 1 |
Pre-tax income | 93 | 168 | 149 | 204 | 166 | 220 | 196 |
Income taxes | 22 | 39 | 37 | 51 | 42 | 60 | 71 |
Tax rate | 23.7% | 23.2% | 24.8% | 25.0% | 25.3% | 27.3% | 36.2% |
Net income | 71 | 128 | 112 | 153 | 125 | 160 | 124 |
Net margin | 4.3% | 8.0% | 7.6% | 11.2% | 9.9% | 13.8% | 12.2% |
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Basic EPS [+] | $0.87 | $1.50 | $1.31 | $1.81 | $1.48 | $1.89 | $1.47 |
Growth | -42.3% | 14.4% | -27.2% | 22.1% | -21.9% | 29.0% | |
Diluted EPS [+] | $0.87 | $1.50 | $1.31 | $1.80 | $1.48 | $1.89 | $1.47 |
Growth | -42.2% | 14.3% | -27.3% | 22.1% | -22.1% | 29.0% | |
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Dividends per share [+] | | | | | | | $1.03 |
Growth | | | | | | -100.0% | |
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Shares outstanding (basic) [+] | 82 | 85 | 85 | 85 | 85 | 85 | 85 |
Growth | -3.9% | -0.1% | 0.6% | 0.2% | 0.0% | 0.0% | |
Shares outstanding (diluted) [+] | 82 | 86 | 86 | 85 | 85 | 85 | 85 |
Growth | -4.1% | 0.0% | 0.7% | 0.2% | 0.2% | 0.0% | |
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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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