Financial Summary (All financials)
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 |
Revenues | 28,586.0 | 25,285.0 | 26,998.0 | 26,425.0 | 26,535.0 | 13,166.0 | 12,671.0 | 12,519.0 |
Revenue growth | 13.1% | -6.3% | 2.2% | -0.4% | 101.5% | 3.9% | 1.2% | -10.6% |
Cost of goods sold | 17,744.0 | 14,992.0 | 16,713.0 | 15,399.0 | 15,483.0 | 7,956.0 | 7,911.0 | 7,689.0 |
Gross profit | 10,842.0 | 10,293.0 | 10,285.0 | 11,026.0 | 11,052.0 | 5,210.0 | 4,760.0 | 4,830.0 |
Gross margin | 37.9% | 40.7% | 38.1% | 41.7% | 41.7% | 39.6% | 37.6% | 38.6% |
Selling, general and administrative | 6,398.0 | 5,320.0 | 5,481.0 | 5,048.0 | 5,156.0 | 2,054.0 | 1,961.0 | 1,971.0 |
EBITA | 6,252.0 | 4,196.0 | 4,186.0 | 5,065.0 | 5,187.0 | 2,872.0 | 2,647.0 | 2,574.0 |
EBITA margin | 21.9% | 16.6% | 15.5% | 19.2% | 19.5% | 21.8% | 20.9% | 20.6% |
Amortization of intangibles | 46.0 | 85.0 | 76.0 | 50.0 | 48.0 | 20.0 | 23.0 | 32.0 |
EBIT | 6,206.0 | 4,111.0 | 4,110.0 | 5,015.0 | 5,139.0 | 2,852.0 | 2,624.0 | 2,542.0 |
EBIT margin | 21.7% | 16.3% | 15.2% | 19.0% | 19.4% | 21.7% | 20.7% | 20.3% |
Pre-tax income | 5,206.0 | 3,147.0 | 3,223.0 | 3,984.0 | 4,120.0 | 2,230.0 | 2,264.0 | 1,858.0 |
Income taxes | 646.0 | 535.0 | -29.0 | 580.0 | 804.0 | 628.0 | 676.0 | 659.0 |
Tax rate | 12.4% | 17.0% | | 14.6% | 19.5% | 28.2% | 29.9% | 35.5% |
Net income | 4,543.0 | 2,422.0 | 3,308.0 | 3,455.0 | 5,641.0 | 1,261.0 | 1,413.0 | 2,959.0 |
Net margin | 15.9% | 9.6% | 12.3% | 13.1% | 21.3% | 9.6% | 11.2% | 23.6% |
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Diluted EPS | $6.94 | $3.92 | $5.36 | $5.56 | $8.72 | $3.46 | $3.18 | $2.05 |
Shares outstanding (diluted) | 655.0 | 618.0 | 617.0 | 621.0 | 647.0 | 448.0 | 489.0 | 561.0 |
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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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