Financial Summary (All financials)
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 | Dec-31-15 |
Revenues | 23,748.7 | 20,820.8 | 18,467.5 | 18,032.4 | 16,240.5 | 14,832.9 | 13,672.7 | 12,988.7 |
Revenue growth | 14.1% | 12.7% | 2.4% | 11.0% | 9.5% | 8.5% | 5.3% | 7.6% |
Cost of goods sold | 19,062.1 | 17,252.3 | 15,257.4 | 14,992.5 | 13,533.6 | 12,382.7 | 11,344.4 | 10,872.9 |
Gross profit | 4,686.6 | 3,568.5 | 3,210.1 | 3,039.9 | 2,706.9 | 2,450.2 | 2,328.3 | 2,115.8 |
Gross margin | 19.7% | 17.1% | 17.4% | 16.9% | 16.7% | 16.5% | 17.0% | 16.3% |
Selling, general and administrative | 2,951.4 | 2,149.5 | 2,030.9 | 1,906.3 | 1,719.6 | 1,583.7 | 1,508.3 | 1,373.8 |
Sales and marketing | | | | | | 173.7 | 162.9 | 147.8 |
EBITA | 1,968.2 | 1,568.0 | 1,391.2 | 1,352.6 | 1,210.3 | 1,087.5 | 1,036.0 | 941.0 |
EBITA margin | 8.3% | 7.5% | 7.5% | 7.5% | 7.5% | 7.3% | 7.6% | 7.2% |
Amortization of intangibles | 233.0 | 149.0 | 212.0 | 219.0 | 223.0 | 221.0 | 216.0 | 199.0 |
EBIT | 1,735.2 | 1,419.0 | 1,179.2 | 1,133.6 | 987.3 | 866.5 | 820.0 | 742.0 |
EBIT margin | 7.3% | 6.8% | 6.4% | 6.3% | 6.1% | 5.8% | 6.0% | 5.7% |
Pre-tax income | 1,487.8 | 1,297.8 | 1,002.3 | 949.7 | 840.5 | 660.7 | 673.2 | 647.0 |
Income taxes | 373.3 | 309.2 | 213.8 | 212.9 | 197.5 | 137.6 | 248.1 | 243.9 |
Tax rate | 25.1% | 23.8% | 21.3% | 22.4% | 23.5% | 20.8% | 36.9% | 37.7% |
Net income | 1,114.5 | 988.6 | 788.5 | 736.8 | 643.0 | 523.1 | 425.1 | 403.1 |
Net margin | 4.7% | 4.7% | 4.3% | 4.1% | 4.0% | 3.5% | 3.1% | 3.1% |
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Diluted EPS | $8.14 | $7.04 | $5.45 | $4.99 | $4.19 | $3.31 | $2.56 | $2.35 |
Shares outstanding (diluted) | 137.0 | 140.5 | 144.8 | 147.8 | 153.6 | 158.2 | 166.0 | 171.8 |
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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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