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 | 2,606.5 | 2,301.3 | 1,752.2 | 2,131.3 | 2,165.7 | 2,087.2 | 2,356.7 | 2,309.2 |
Revenue growth | 13.3% | 31.3% | -17.8% | -1.6% | 3.8% | -11.4% | 2.1% | 0.0% |
Cost of goods sold | 1,690.2 | 1,529.4 | 1,176.6 | 1,337.8 | 1,335.8 | 1,284.9 | 1,375.4 | 1,391.0 |
Gross profit | 916.3 | 771.8 | 575.6 | 793.5 | 829.9 | 802.3 | 981.3 | 918.2 |
Gross margin | 35.2% | 33.5% | 32.9% | 37.2% | 38.3% | 38.4% | 41.6% | 39.8% |
Selling, general and administrative | 448.6 | 378.0 | 323.4 | 417.3 | 411.4 | 389.7 | 486.4 | 525.5 |
Research and development | 104.4 | 90.2 | 73.0 | 94.4 | 91.6 | 88.7 | 140.5 | 148.3 |
EBITA | 401.2 | 294.3 | 179.2 | 281.8 | 451.3 | 323.8 | 306.5 | 244.3 |
EBITA margin | 15.4% | 12.8% | 10.2% | 13.2% | 20.8% | 15.5% | 13.0% | 10.6% |
Amortization of intangibles | 37.9 | 30.6 | 29.0 | 74.6 | 75.1 | 90.2 | 98.4 | 103.8 |
EBIT | 363.3 | 263.7 | 150.1 | 207.2 | 376.1 | 233.6 | 208.2 | 140.6 |
EBIT margin | 13.9% | 11.5% | 8.6% | 9.7% | 17.4% | 11.2% | 8.8% | 6.1% |
Pre-tax income | 317.4 | 226.8 | 90.8 | 152.4 | 230.1 | 98.0 | 126.5 | 39.9 |
Income taxes | 49.6 | 27.9 | 20.1 | 42.5 | 62.9 | -4.6 | -1.2 | -26.6 |
Tax rate | 15.6% | 12.3% | 22.1% | 27.9% | 27.4% | | | |
Earnings from continuing ops | 535.3 | 399.2 | 131.4 | 91.2 | 132.4 | 68.0 | 112.6 | 66.3 |
Earnings from discontinued ops | -12.9 | -136.4 | -115.8 | -486.7 | -6.4 | -9.8 | | -0.1 |
Net income | 522.4 | 262.8 | 15.6 | -395.5 | 126.0 | 58.3 | 112.6 | 66.2 |
Net margin | 20.0% | 11.4% | 0.9% | -18.6% | 5.8% | 2.8% | 4.8% | 2.9% |
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Diluted EPS | $12.02 | $8.80 | $2.92 | $2.15 | $3.23 | $1.60 | $2.65 | $1.54 |
Shares outstanding (diluted) | 44.5 | 45.4 | 44.9 | 42.4 | 41.0 | 42.6 | 42.6 | 43.0 |
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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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