Financial Summary (All financials)
| In millions, except per share items | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 |
| Revenues | 1,913 | 2,061 | 2,161 | 2,149 | 2,188 | 2,353 | 2,472 | 2,604 |
| Revenue growth | -7.2% | -4.6% | 0.6% | -1.8% | -7.0% | -4.8% | -5.0% | -0.3% |
| Cost of goods sold | 484 | 406 | 331 | 324 | 343 | 329 | 348 | 376 |
| Gross profit | 1,429 | 1,655 | 1,830 | 1,824 | 1,845 | 2,024 | 2,124 | 2,228 |
| Gross margin | 74.7% | 80.3% | 84.7% | 84.9% | 84.3% | 86.0% | 85.9% | 85.6% |
| Selling, general and administrative | 314 | 227 | 201 | 205 | 233 | 199 | 197 | 288 |
| EBITA | 302 | 805 | 980 | 953 | 966 | 1,197 | 1,315 | 1,285 |
| EBITA margin | 15.8% | 39.0% | 45.4% | 44.4% | 44.2% | 50.9% | 53.2% | 49.4% |
| Amortization of intangibles | 33 | 34 | 39 | 42 | 49 | 60 | 68 | 82 |
| EBIT | 269 | 770 | 942 | 911 | 918 | 1,137 | 1,247 | 1,203 |
| EBIT margin | 14.1% | 37.4% | 43.6% | 42.4% | 42.0% | 48.3% | 50.4% | 46.2% |
| Pre-tax income | -916 | -919 | -466 | -104 | 1,010 | -3,918 | 259 | -283 |
| Income taxes | -7 | -7 | 130 | 71 | 16 | 2 | 23 | -31 |
| Tax rate | 0.8% | 0.8% | | | 1.6% | | 8.9% | 10.9% |
| Net income | -912 | -914 | -600 | -179 | 990 | -3,933 | 223 | -266 |
| Net margin | -47.7% | -44.3% | -27.7% | -8.3% | 45.3% | -167.2% | 9.0% | -10.2% |
| |
| Diluted EPS | ($6.42) | ($6.51) | ($4.63) | ($1.50) | $8.36 | ($36.69) | $1.91 | ($2.70) |
| Shares outstanding (diluted) | 142 | 140 | 130 | 119 | 119 | 107 | 117 | 99 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|