Financial Summary (All financials)
In millions, except per share items | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 |
Revenues | 3,169 | 4,335 | 4,997 | 5,282 | 4,478 | 4,192 | 4,041 | 3,254 |
Revenue growth | -26.9% | -13.2% | -5.4% | 18.0% | 6.8% | 3.7% | 24.2% | |
Cost of goods sold | 1,076 | 1,710 | 2,110 | 2,234 | 1,822 | 1,675 | 1,784 | 1,408 |
Gross profit | 2,093 | 2,625 | 2,887 | 3,048 | 2,656 | 2,517 | 2,257 | 1,846 |
Gross margin | 66.0% | 60.6% | 57.8% | 57.7% | 59.3% | 60.0% | 55.9% | 56.7% |
General and administrative | 234 | 248 | 315 | 300 | 250 | 202 | 178 | 149 |
EBIT | 1,353 | 2,274 | 5,516 | 1,936 | 1,571 | 1,916 | 1,699 | 1,535 |
EBIT margin | 42.7% | 52.5% | 110.4% | 36.7% | 35.1% | 45.7% | 42.0% | 47.2% |
Pre-tax income | 44 | -427 | 4,106 | 2,940 | 1,437 | 1,671 | 1,331 | 1,473 |
Income taxes | 199 | 208 | 19 | 154 | 232 | 189 | 159 | 120 |
Tax rate | 452.3% | | 0.5% | 5.2% | 16.1% | 11.3% | 11.9% | 8.1% |
Net income | -181 | -634 | 3,979 | 2,653 | 1,108 | 1,401 | 1,117 | 1,261 |
Net margin | -5.7% | -14.6% | 79.6% | 50.2% | 24.7% | 33.4% | 27.6% | 38.8% |
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Diluted EPS | ($0.36) | ($1.29) | $8.07 | $5.39 | $2.26 | $2.87 | $2.37 | $2.89 |
Shares outstanding (diluted) | 501 | 493 | 493 | 492 | 490 | 488 | 471 | 437 |
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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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