Financial Summary (All financials)
In millions, except per share items | Dec-31-08 | Dec-31-07 | Dec-31-06 | Dec-31-05 | Dec-31-04 | Dec-31-03 | Dec-31-02 | Dec-31-01 |
Revenues | 13,418.0 | 11,724.0 | 9,284.0 | 6,633.0 | 4,621.0 | 3,300.3 | 2,719.2 | 2,212.3 |
Revenue growth | 14.4% | 26.3% | 40.0% | 43.5% | 40.0% | 21.4% | 22.9% | 27.4% |
Cost of goods sold | 1,744.0 | 1,571.0 | 1,181.0 | 1,011.0 | 673.0 | 480.1 | 441.6 | 354.4 |
Gross profit | 11,674.0 | 10,153.0 | 8,103.0 | 5,622.0 | 3,948.0 | 2,820.2 | 2,277.6 | 1,857.8 |
Gross margin | 87.0% | 86.6% | 87.3% | 84.8% | 85.4% | 85.5% | 83.8% | 84.0% |
Selling, general and administrative | 2,405.0 | 2,256.0 | 2,014.0 | 1,435.0 | 1,088.0 | 794.8 | 573.3 | 474.4 |
Research and development | | | | | | | 623.5 | 526.2 |
EBIT | 5,329.0 | 4,229.0 | 3,152.0 | 1,921.0 | 1,136.0 | 804.7 | 30.5 | 288.7 |
EBIT margin | 39.7% | 36.1% | 34.0% | 29.0% | 24.6% | 24.4% | 1.1% | 13.1% |
Pre-tax income | 5,431.0 | 4,426.0 | 3,403.0 | 2,013.0 | 1,220.0 | 897.5 | 29.7 | 283.0 |
Income taxes | 2,004.0 | 1,657.0 | 1,290.0 | 734.0 | 435.0 | 287.3 | -34.0 | 127.1 |
Tax rate | 36.9% | 37.4% | 37.9% | 36.5% | 35.7% | 32.0% | | 44.9% |
Net income | 3,427.0 | 2,769.0 | 2,113.0 | 1,279.0 | 785.0 | 562.5 | 63.8 | 150.2 |
Net margin | 25.5% | 23.6% | 22.8% | 19.3% | 17.0% | 17.0% | 2.3% | 6.8% |
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Diluted EPS | $3.21 | $2.59 | $1.97 | $1.18 | $0.73 | $0.53 | $0.12 | $0.28 |
Shares outstanding (diluted) | 1,067.0 | 1,069.0 | 1,073.0 | 1,081.0 | 1,079.0 | 1,057.6 | 524.4 | 535.3 |
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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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