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 | 47,700.0 | 16,811.0 | 10,533.0 | 10,930.0 | 11,252.0 | 45,794.0 | 42,679.0 | 43,455.0 |
Revenue growth | 183.7% | 59.6% | -3.6% | -2.9% | -75.4% | 7.3% | -1.8% | -24.0% |
Cost of goods sold | 45,410.0 | 55,789.0 | 38,619.0 | 40,598.0 | 43,477.0 | 44,029.0 | 40,269.0 | 40,762.0 |
Gross profit | 2,290.0 | -38,978.0 | -28,086.0 | -29,668.0 | -32,225.0 | 1,765.0 | 2,410.0 | 2,693.0 |
Gross margin | 4.8% | -231.9% | -266.6% | -271.4% | -286.4% | 3.9% | 5.6% | 6.2% |
Selling, general and administrative | 532.0 | 1,234.0 | 1,358.0 | 1,351.0 | 1,423.0 | 1,437.0 | 1,284.0 | 1,435.0 |
EBITA | 47,235.0 | 2,261.0 | 1,729.0 | -948.0 | 729.0 | 539.0 | 1,180.0 | 1,247.0 |
EBITA margin | 99.0% | 13.4% | 16.4% | -8.7% | 6.5% | 1.2% | 2.8% | 2.9% |
Amortization of intangibles | | 48.0 | 49.0 | 55.0 | 57.0 | 29.0 | 31.0 | 27.0 |
EBIT | 47,235.0 | 2,213.0 | 1,680.0 | -1,003.0 | 672.0 | 510.0 | 1,149.0 | 1,220.0 |
EBIT margin | 99.0% | 13.2% | 15.9% | -9.2% | 6.0% | 1.1% | 2.7% | 2.8% |
Pre-tax income | 0.0 | 2,565.0 | 1,413.0 | -1,205.0 | 456.0 | 230.0 | 996.0 | 1,051.0 |
Income taxes | 0.0 | 398.0 | 248.0 | 86.0 | 179.0 | 56.0 | 220.0 | 296.0 |
Tax rate | | 15.5% | 17.6% | | 39.3% | 24.3% | 22.1% | 28.2% |
Earnings from continuing ops | | 2,044.0 | 1,121.0 | -1,322.0 | 223.0 | 126.0 | 718.0 | 703.0 |
Earnings from discontinued ops | | | | | 10.0 | | -9.0 | 35.0 |
Net income | 0.0 | 2,044.0 | 1,121.0 | -1,322.0 | 233.0 | 126.0 | 709.0 | 738.0 |
Net margin | 0.0% | 12.2% | 10.6% | -12.1% | 2.1% | 0.3% | 1.7% | 1.7% |
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Diluted EPS | | $13.42 | $7.49 | ($9.34) | $1.57 | $0.89 | $4.84 | $4.62 |
Shares outstanding (diluted) | | 152.4 | 149.7 | 141.5 | 141.7 | 141.3 | 148.2 | 152.2 |
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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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