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 |
| Revenues | 11,106 | 11,455 | 12,754 | 12,777 | 13,135 | 12,863 |
| Revenue growth | -3.0% | -10.2% | -0.2% | -2.7% | 2.1% | |
| Cost of goods sold | 9,686 | 10,078 | 11,496 | 11,696 | 12,002 | 11,730 |
| Gross profit | 1,420 | 1,377 | 1,258 | 1,081 | 1,133 | 1,133 |
| Gross margin | 12.8% | 12.0% | 9.9% | 8.5% | 8.6% | 8.8% |
| Sales and marketing | 839 | 752 | 687 | 657 | | 636 |
| General and administrative | 157 | 175 | 140 | 78 | 61 | 59 |
| EBITA | 547 | 275 | 339 | 252 | 313 | 333 |
| EBITA margin | 4.9% | 2.4% | 2.7% | 2.0% | 2.4% | 2.6% |
| Amortization of intangibles | 9 | 7 | 8 | 8 | | 8 |
| EBIT | 538 | 268 | 331 | 244 | 313 | 325 |
| EBIT margin | 4.8% | 2.3% | 2.6% | 1.9% | 2.4% | 2.5% |
| Pre-tax income | 480 | 227 | 289 | 215 | 313 | 322 |
| Income taxes | 176 | 88 | 109 | 76 | 105 | 104 |
| Tax rate | 36.7% | 38.8% | 37.7% | 35.3% | 33.5% | 32.3% |
| Net income | 324 | 149 | 200 | 139 | 208 | 218 |
| Net margin | 2.9% | 1.3% | 1.6% | 1.1% | 1.6% | 1.7% |
| |
| Diluted EPS | $4.26 | $1.95 | $2.63 | $1.84 | $2.76 | $2.89 |
| Shares outstanding (diluted) | 76 | 77 | 76 | 76 | 75 | 75 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|