Financial Summary (All financials)
In millions, except per share items | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 | Dec-31-07 |
Revenues | 7,237.9 | 6,300.4 | 5,646.6 | 5,216.0 | 4,919.4 | 4,503.6 | 4,403.4 | 3,938.9 |
Revenue growth | 14.9% | 11.6% | 8.3% | 6.0% | 9.2% | 2.3% | 11.8% | 28.6% |
Cost of goods sold | 842.4 | 795.8 | 751.2 | 718.0 | 722.0 | 750.9 | 761.2 | 673.2 |
Gross profit | 6,395.5 | 5,504.6 | 4,895.4 | 4,498.0 | 4,197.4 | 3,752.7 | 3,642.2 | 3,265.7 |
Gross margin | 88.4% | 87.4% | 86.7% | 86.2% | 85.3% | 83.3% | 82.7% | 82.9% |
Selling, general and administrative | 2,837.2 | 2,519.4 | 2,193.1 | 2,158.3 | 2,017.6 | 1,921.5 | 1,856.1 | 1,680.2 |
Research and development | 1,191.6 | 1,042.3 | 977.3 | 871.5 | 804.6 | 706.0 | 797.9 | 718.1 |
EBITA | 2,351.6 | 2,013.6 | 1,725.0 | 1,468.2 | 1,237.2 | 978.9 | 837.3 | 746.1 |
EBITA margin | 32.5% | 32.0% | 30.5% | 28.1% | 25.1% | 21.7% | 19.0% | 18.9% |
Amortization of intangibles | 112.4 | 116.7 | 90.2 | 86.1 | | | | |
EBIT | 2,239.2 | 1,896.9 | 1,634.8 | 1,382.1 | 1,237.2 | 978.9 | 837.3 | 746.1 |
EBIT margin | 30.9% | 30.1% | 29.0% | 26.5% | 25.1% | 21.7% | 19.0% | 18.9% |
Pre-tax income | 1,989.3 | 1,730.8 | 1,531.0 | 1,309.2 | 170.8 | 848.5 | 762.2 | 664.4 |
Income taxes | 456.7 | 458.3 | 430.3 | 359.6 | 165.9 | 224.7 | 197.5 | 177.4 |
Tax rate | 23.0% | 26.5% | 28.1% | 27.5% | 97.1% | 26.5% | 25.9% | 26.7% |
Earnings from continuing ops | 3,060.6 | 2,839.3 | 1,097.0 | 1,895.6 | 0.6 | 621.3 | 563.1 | 973.5 |
Earnings from discontinued ops | -3.8 | -581.7 | 1.8 | -11.5 | | | | -1.7 |
Net income | 3,056.8 | 2,257.6 | 1,098.8 | 1,884.1 | 0.6 | 621.3 | 563.1 | 971.8 |
Net margin | 42.2% | 35.8% | 19.5% | 36.1% | 0.0% | 13.8% | 12.8% | 24.7% |
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Diluted EPS | $10.07 | $9.41 | $3.57 | $6.11 | $0.00 | $2.03 | $1.84 | $1.57 |
Shares outstanding (diluted) | 304.0 | 301.8 | 307.1 | 310.2 | 308.0 | 305.8 | 306.4 | 619.0 |
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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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