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 | 5,051.0 | 4,667.9 | 4,632.9 | 3,421.1 | 1,675.3 | 1,481.4 | 1,000.3 | 767.9 |
Revenue growth | 8.2% | 0.8% | 35.4% | 104.2% | 13.1% | 48.1% | 30.3% | 7.7% |
Cost of goods sold | 2,641.7 | 2,574.1 | 2,611.7 | 2,051.1 | 886.4 | 800.5 | 691.3 | 478.8 |
Gross profit | 2,409.3 | 2,093.8 | 2,021.2 | 1,370.0 | 788.9 | 680.9 | 309.0 | 289.0 |
Gross margin | 47.7% | 44.9% | 43.6% | 40.0% | 47.1% | 46.0% | 30.9% | 37.6% |
Sales and marketing | 394.1 | 356.3 | 353.9 | 211.0 | 118.5 | 117.1 | 95.0 | 48.6 |
Research and development | | | | 318.2 | 153.3 | 152.7 | 110.4 | 57.3 |
General and administrative | | | | 313.9 | 119.6 | 122.5 | 97.8 | 50.9 |
EBITA | 1,566.1 | 1,355.9 | 1,164.7 | 431.2 | 396.9 | 288.6 | 164.7 | 200.4 |
EBITA margin | 31.0% | 29.0% | 25.1% | 12.6% | 23.7% | 19.5% | 16.5% | 26.1% |
Amortization of intangibles | 526.5 | 580.1 | 633.0 | | | | | |
EBIT | 1,039.6 | 775.8 | 531.7 | 431.2 | 396.9 | 288.6 | 164.7 | 200.4 |
EBIT margin | 20.6% | 16.6% | 11.5% | 12.6% | 23.7% | 19.5% | 16.5% | 26.1% |
Pre-tax income | 1,037.0 | 775.8 | 531.7 | 125.1 | 282.7 | 163.6 | 60.8 | 177.7 |
Income taxes | 236.4 | 150.6 | 93.2 | 21.9 | -46.2 | 32.6 | 18.0 | 46.5 |
Tax rate | 22.8% | 19.4% | 17.5% | 17.5% | | 19.9% | 29.6% | 26.2% |
Net income | 800.0 | 625.2 | 438.5 | 103.2 | 328.9 | 131.0 | 42.9 | 131.1 |
Net margin | 15.8% | 13.4% | 9.5% | 3.0% | 19.6% | 8.8% | 4.3% | 17.1% |
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Diluted EPS | $2.99 | $2.35 | $1.66 | $0.42 | $1.55 | $0.64 | $0.22 | $0.75 |
Shares outstanding (diluted) | 267.3 | 266.6 | 264.2 | 243.7 | 211.6 | 205.8 | 190.9 | 174.7 |
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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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