Financial Summary (All financials)
In millions, except per share items | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 |
Revenues | 1,172.5 | 1,413.3 | 1,386.4 | 1,432.1 | 1,803.1 | 1,644.1 | 1,217.3 | 1,566.8 |
Revenue growth | -17.0% | 1.9% | -3.2% | -20.6% | 9.7% | 35.1% | -22.3% | -4.4% |
Cost of goods sold | 629.4 | 794.7 | 812.8 | 830.8 | 894.8 | 915.9 | 804.3 | 976.2 |
Gross profit | 543.0 | 618.6 | 573.6 | 601.3 | 908.2 | 728.2 | 413.0 | 590.5 |
Gross margin | 46.3% | 43.8% | 41.4% | 42.0% | 50.4% | 44.3% | 33.9% | 37.7% |
Selling, general and administrative | 246.6 | 262.0 | 237.6 | 275.3 | 280.4 | 264.3 | 221.3 | 273.2 |
Research and development | 230.2 | 274.6 | 266.4 | 251.5 | 255.7 | 237.8 | 213.6 | 260.3 |
EBIT | 68.0 | 82.5 | 71.9 | 78.7 | 372.9 | 224.9 | -21.9 | 56.3 |
EBIT margin | 5.8% | 5.8% | 5.2% | 5.5% | 20.7% | 13.7% | -1.8% | 3.6% |
Pre-tax income | 58.3 | 57.2 | -0.5 | 42.2 | 381.2 | 116.4 | -136.0 | -20.2 |
Income taxes | 31.4 | 22.0 | 21.5 | 11.8 | 66.2 | -306.7 | -26.5 | 7.0 |
Tax rate | 53.9% | 38.5% | | 27.9% | 17.4% | | 19.5% | |
Net income | 26.9 | 38.2 | -22.1 | 30.4 | 315.0 | 423.1 | -109.5 | -27.2 |
Net margin | 2.3% | 2.7% | -1.6% | 2.1% | 17.5% | 25.7% | -9.0% | -1.7% |
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Diluted EPS | $0.06 | $0.09 | ($0.05) | $0.07 | $0.68 | $0.90 | ($0.24) | ($0.06) |
Shares outstanding (diluted) | 420.3 | 420.9 | 427.5 | 437.6 | 462.7 | 469.6 | 451.8 | 446.5 |
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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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