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 |
Revenues | 1,565 | 1,300 | 2,053 | 1,868 | 1,280 | 1,269 |
Revenue growth | 20.4% | -36.7% | 9.9% | 45.9% | 0.9% | |
Cost of goods sold | 1,251 | 1,455 | 1,910 | 182 | 183 | 168 |
Gross profit | 314 | -155 | 143 | 1,686 | 1,097 | 1,101 |
Gross margin | 20.1% | -11.9% | 7.0% | 90.3% | 85.7% | 86.8% |
General and administrative | 113 | 116 | 130 | 119 | 88 | 83 |
EBITA | 490 | 231 | 398 | 314 | 311 | 315 |
EBITA margin | 31.3% | 17.8% | 19.4% | 16.8% | 24.3% | 24.8% |
Amortization of intangibles | 38 | 37 | 38 | 31 | 20 | 18 |
EBIT | 452 | 194 | 360 | 283 | 291 | 297 |
EBIT margin | 28.9% | 14.9% | 17.5% | 15.1% | 22.7% | 23.4% |
Pre-tax income | 335 | -158 | 207 | 223 | 243 | 294 |
Income taxes | 91 | -26 | 50 | 61 | 13 | 118 |
Tax rate | 27.2% | 16.5% | 24.2% | 27.4% | 5.3% | 40.1% |
Net income | 244 | -132 | 157 | 162 | 230 | 176 |
Net margin | 15.6% | -10.2% | 7.6% | 8.7% | 18.0% | 13.9% |
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Diluted EPS | $2.60 | ($1.41) | $1.63 | $1.62 | $2.30 | $1.76 |
Shares outstanding (diluted) | 94 | 93 | 97 | 100 | 100 | 100 |
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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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