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 |
| Revenues | 17,455 | 15,655 | 14,217 | 13,846 | 14,287 |
| Revenue growth | 11.5% | 10.1% | 2.7% | -3.1% | |
| Cost of goods sold | 10,436 | 9,220 | 8,507 | 8,575 | 9,948 |
| Gross profit | 7,019 | 6,435 | 5,710 | 5,271 | 4,339 |
| Gross margin | 40.2% | 41.1% | 40.2% | 38.1% | 30.4% |
| Selling, general and administrative | 3,173 | 3,209 | 3,043 | 3,065 | 3,041 |
| Research and development | 1,216 | 1,187 | 1,142 | 1,147 | 1,355 |
| EBITA | 2,147 | 1,750 | 1,190 | 67 | -1,905 |
| EBITA margin | 12.3% | 11.2% | 8.4% | 0.5% | -13.3% |
| Amortization of intangibles | 702 | 722 | 682 | 475 | 391 |
| EBIT | 1,445 | 1,028 | 508 | -408 | -2,296 |
| EBIT margin | 8.3% | 6.6% | 3.6% | -2.9% | -16.1% |
| Pre-tax income | 1,426 | 2,346 | 675 | -316 | -6,806 |
| Income taxes | 1,426 | 524 | -81 | -46 | -31 |
| Tax rate | 100.0% | 22.3% | | 14.6% | 0.5% |
| Earnings from continuing ops | 1,147 | 3,634 | 1,492 | -288 | -13,588 |
| Earnings from discontinued ops | | -53 | -55 | -671 | 1,748 |
| Net income | 1,147 | 3,581 | 1,437 | -959 | -11,840 |
| Net margin | 6.6% | 22.9% | 10.1% | -6.9% | -82.9% |
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| Diluted EPS | $1.58 | $4.90 | $1.99 | ($0.38) | ($18.13) |
| Shares outstanding (diluted) | 725 | 742 | 751 | 750 | 749 |
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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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