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 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
Revenues | 4,592.8 | 3,011.4 | 2,292.7 | 862.1 | 3,024.9 | 2,926.4 | 2,575.5 | 2,331.6 |
Revenue growth | 52.5% | 31.3% | 166.0% | -71.5% | 3.4% | 13.6% | 10.5% | 5.6% |
Cost of goods sold | 201.4 | 3,110.5 | 2,554.0 | 2,221.0 | 1,993.1 | 2,181.6 | 1,957.3 | 1,776.3 |
Gross profit | 4,391.4 | -99.1 | -261.3 | -1,358.9 | 1,031.7 | 744.8 | 618.2 | 555.3 |
Gross margin | 95.6% | -3.3% | -11.4% | -157.6% | 34.1% | 25.5% | 24.0% | 23.8% |
Selling, general and administrative | 2,586.2 | 211.1 | 205.6 | 185.8 | 437.0 | 431.1 | 431.3 | 371.2 |
Research and development | | 165.5 | 164.7 | 147.4 | 140.3 | 133.5 | 139.6 | 130.7 |
EBITA | 1,666.1 | 1,093.3 | 640.8 | 560.6 | 717.0 | 351.7 | 223.9 | 197.4 |
EBITA margin | 36.3% | 36.3% | 28.0% | 65.0% | 23.7% | 12.0% | 8.7% | 8.5% |
Amortization of intangibles | | | | | 12.6 | 12.1 | 14.4 | 10.4 |
EBIT | 1,666.1 | 1,093.3 | 640.8 | 560.6 | 704.4 | 339.6 | 209.5 | 187.0 |
EBIT margin | 36.3% | 36.3% | 28.0% | 65.0% | 23.3% | 11.6% | 8.1% | 8.0% |
Pre-tax income | 885.1 | 1,067.1 | 651.2 | 599.1 | 534.4 | 269.5 | 142.6 | 141.6 |
Income taxes | 223.0 | 242.2 | 147.7 | 149.2 | 140.4 | 86.7 | 61.1 | 49.2 |
Tax rate | 25.2% | 22.7% | 22.7% | 24.9% | 26.3% | 32.2% | 42.8% | 34.8% |
Net income | 624.9 | 824.9 | 503.5 | 448.4 | 384.6 | 173.5 | 77.6 | 92.3 |
Net margin | 13.6% | 27.4% | 22.0% | 52.0% | 12.7% | 5.9% | 3.0% | 4.0% |
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Diluted EPS | $5.32 | $6.96 | $4.39 | $3.80 | $3.15 | $2.14 | $1.00 | $1.18 |
Shares outstanding (diluted) | 117.5 | 118.5 | 114.6 | 117.9 | 122.0 | 81.0 | 77.6 | 78.6 |
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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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