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 | 8,171.0 | 7,414.0 | 7,887.0 | 7,343.0 | 6,380.0 | 6,038.0 | 5,695.0 | 5,881.0 |
Revenue growth | 10.2% | -6.0% | 7.4% | 15.1% | 5.7% | 6.0% | -3.2% | -5.6% |
Cost of goods sold | 4,131.0 | 3,806.0 | 3,956.0 | 3,863.0 | 3,356.0 | 3,169.0 | 2,976.0 | 3,050.0 |
Gross profit | 4,040.0 | 3,608.0 | 3,931.0 | 3,480.0 | 3,024.0 | 2,869.0 | 2,719.0 | 2,831.0 |
Gross margin | 49.4% | 48.7% | 49.8% | 47.4% | 47.4% | 47.5% | 47.7% | 48.1% |
Selling, general and administrative | 1,353.0 | 1,293.0 | 1,403.0 | 1,254.0 | 1,025.0 | 1,044.0 | 1,021.0 | 1,184.0 |
Research and development | 734.0 | 686.0 | 687.0 | 637.0 | 568.0 | 553.0 | 620.0 | 681.0 |
EBITA | 1,935.0 | 1,684.0 | 1,846.0 | 1,563.0 | 1,477.0 | 1,301.0 | 1,119.0 | -937.0 |
EBITA margin | 23.7% | 22.7% | 23.4% | 21.3% | 23.2% | 21.5% | 19.6% | -15.9% |
Amortization of intangibles | 236.0 | 215.0 | 208.0 | 188.0 | 151.0 | 113.0 | 8.0 | 4.0 |
EBIT | 1,699.0 | 1,469.0 | 1,638.0 | 1,375.0 | 1,326.0 | 1,188.0 | 1,111.0 | -941.0 |
EBIT margin | 20.8% | 19.8% | 20.8% | 18.7% | 20.8% | 19.7% | 19.5% | -16.0% |
Pre-tax income | 1,552.0 | 1,174.0 | 1,001.0 | 1,102.0 | 1,076.0 | 844.0 | 917.0 | -1,161.0 |
Income taxes | 302.0 | 221.0 | 130.0 | 133.0 | 1,227.0 | 282.0 | 274.0 | -465.0 |
Tax rate | 19.5% | 18.8% | 13.0% | 12.1% | 114.0% | 33.4% | 29.9% | 40.1% |
Net income | 1,245.0 | 949.0 | 868.0 | 966.0 | -155.0 | 560.0 | 1,253.0 | 1,299.0 |
Net margin | 15.2% | 12.8% | 11.0% | 13.2% | -2.4% | 9.3% | 22.0% | 22.1% |
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Diluted EPS | $7.17 | $5.45 | $4.94 | $5.62 | ($0.95) | $3.24 | $6.21 | $5.29 |
Shares outstanding (diluted) | 173.6 | 174.1 | 175.6 | 172.0 | 162.9 | 173.1 | 201.8 | 245.6 |
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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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