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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Routine clinical testing and other services | 4,293.0 | 3,836.0 | 4,206.0 | | | | | |
| COVID-19 testing services | 2,770.0 | 2,723.0 | | | | | | |
| DIS business | 10,494.0 | 9,139.0 | 7,405.0 | 7,204.0 | 7,068.0 | 6,837.0 | 6,965.0 | 6,873.0 |
| Other | | | | 327.0 | 334.0 | 377.0 | 528.0 | 562.0 |
| Total revenues | 10,788.0 | 9,437.0 | 7,726.0 | 7,531.0 | 7,402.0 | 7,214.0 | 7,493.0 | 7,435.0 |
| Revenue growth [+] | 14.3% | 22.1% | 2.6% | 1.7% | 2.6% | -3.7% | 0.8% | 4.0% |
| Routine clinical testing and other services | 11.9% | -8.8% | | | | | | |
| COVID-19 testing services | 1.7% | | | | | | | |
| DIS business | 14.8% | 23.4% | 2.8% | 1.9% | 3.4% | -1.8% | 1.3% | 4.3% |
| All other operating segments | -1.3% | -7.2% | -1.8% | -2.1% | -11.4% | -28.6% | -6.0% | 0.5% |
| Cost of goods sold | 6,579.0 | 5,804.0 | 5,037.0 | 4,926.0 | 4,719.0 | 4,616.0 | 4,657.0 | 4,637.0 |
| Gross profit | 4,209.0 | 3,633.0 | 2,689.0 | 2,605.0 | 2,683.0 | 2,598.0 | 2,836.0 | 2,798.0 |
| Gross margin | 39.0% | 38.5% | 34.8% | 34.6% | 36.2% | 36.0% | 37.8% | 37.6% |
| Selling, general and administrative | 1,727.0 | 1,550.0 | 1,457.0 | 1,424.0 | 1,443.0 | 1,380.0 | 1,679.0 | 1,728.0 |
| Equity in earnings | 78.0 | 75.0 | 57.0 | 44.0 | 35.0 | 39.0 | 23.0 | 26.0 |
| Other operating expenses | -2.0 | 9.0 | -95.0 | -10.0 | 1.0 | 59.0 | 92.0 | |
| EBITDA [+] | 2,867.0 | 2,407.0 | 1,617.0 | 1,454.0 | 1,470.0 | 1,447.0 | 1,392.0 | 1,323.0 |
| EBITDA growth | 19.1% | 48.9% | 11.2% | -1.1% | 1.6% | 4.0% | 5.2% | 1.1% |
| EBITDA margin | 26.6% | 25.5% | 20.9% | 19.3% | 19.9% | 20.1% | 18.6% | 17.8% |
| Depreciation and amortization | 305.0 | 258.0 | 233.0 | 219.0 | 196.0 | 177.0 | 223.0 | 220.0 |
| EBITA | 2,562.0 | 2,149.0 | 1,384.0 | 1,235.0 | 1,274.0 | 1,270.0 | 1,169.0 | 1,103.0 |
| EBITA margin | 23.7% | 22.8% | 17.9% | 16.4% | 17.2% | 17.6% | 15.6% | 14.8% |
| Amortization of intangibles | 103.0 | 103.0 | 96.0 | 90.0 | 74.0 | 72.0 | 81.0 | 94.0 |
| EBIT [+] | 2,459.0 | 2,046.0 | 1,288.0 | 1,145.0 | 1,200.0 | 1,198.0 | 1,088.0 | 1,009.0 |
| EBIT growth | 20.2% | 58.9% | 12.5% | -4.6% | 0.2% | 10.1% | 7.8% | -1.6% |
| EBIT margin | 22.8% | 21.7% | 16.7% | 15.2% | 16.2% | 16.6% | 14.5% | 13.6% |
| Non-recurring items [+] | | | | | | -118.0 | -334.0 | |
| Loss (gain) on sale of business | | | | | | -118.0 | -334.0 | |
| Interest expense | 151.0 | 163.0 | 175.0 | 174.0 | 159.0 | 148.0 | 172.0 | 164.0 |
| Interest expense | 151.0 | 163.0 | 175.0 | 174.0 | 159.0 | 148.0 | 172.0 | 164.0 |
| Other income (expense), net [+] | 291.0 | 1.0 | -37.0 | -45.0 | -11.0 | -82.0 | -147.0 | -22.0 |
| Other | 369.0 | 76.0 | 20.0 | -8.0 | 16.0 | -48.0 | -143.0 | 4.0 |
| Pre-tax income | 2,599.0 | 1,884.0 | 1,076.0 | 926.0 | 1,030.0 | 1,086.0 | 1,103.0 | 823.0 |
| Income taxes | 597.0 | 460.0 | 247.0 | 182.0 | 241.0 | 429.0 | 373.0 | -262.0 |
| Tax rate | 23.0% | 24.4% | 23.0% | 19.7% | 23.4% | 39.5% | 33.8% | |
| Minority interest | 85.0 | 68.0 | 48.0 | 52.0 | 52.0 | 51.0 | 44.0 | 36.0 |
| Earnings from continuing ops | 1,995.0 | 1,431.0 | 838.0 | 736.0 | 772.0 | 645.0 | 709.0 | 551.0 |
| Earnings from discontinued ops | | | 20.0 | | | | | 5.0 |
| Net income | 1,995.0 | 1,431.0 | 858.0 | 736.0 | 772.0 | 645.0 | 709.0 | 556.0 |
| Net margin | 18.5% | 15.2% | 11.1% | 9.8% | 10.4% | 8.9% | 9.5% | 7.5% |
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| Basic EPS [+] | $15.96 | $10.68 | $6.25 | $5.41 | $5.64 | $4.61 | $4.92 | $3.80 |
| Growth | 49.5% | 70.8% | 15.6% | -4.0% | 22.3% | -6.4% | 29.6% | -29.0% |
| Diluted EPS [+] | $15.59 | $10.52 | $6.16 | $5.29 | $5.51 | $4.54 | $4.89 | $3.80 |
| Growth | 48.1% | 70.8% | 16.4% | -4.0% | 21.4% | -7.1% | 28.7% | -28.6% |
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| Dividends per share [+] | $2.47 | $2.22 | $2.13 | $1.96 | $1.80 | $1.59 | $1.52 | $1.32 |
| Growth | 11.5% | 3.8% | 9.1% | 8.5% | 13.2% | 4.8% | 15.2% | 10.0% |
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| Shares outstanding (basic) [+] | 125.0 | 134.0 | 134.0 | 136.0 | 137.0 | 140.0 | 144.0 | 145.0 |
| Growth | -6.7% | 0.0% | -1.5% | -0.7% | -2.1% | -2.8% | -0.7% | -4.6% |
| Shares outstanding (diluted) [+] | 128.0 | 136.0 | 136.0 | 139.0 | 140.0 | 142.0 | 145.0 | 145.0 |
| Growth | -5.9% | 0.0% | -2.2% | -0.7% | -1.4% | -2.1% | 0.0% | -5.2% |
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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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