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 | 2,509 | 1,929 | 2,285 | 2,845 | 2,811 | 2,785 |
Revenue growth | 30.1% | -15.6% | -19.7% | 1.2% | 0.9% | |
Cost of goods sold | 1,082 | 874 | 936 | 1,243 | 1,190 | 1,184 |
Gross profit | 1,427 | 1,055 | 1,349 | 1,602 | 1,621 | 1,601 |
Gross margin | 56.9% | 54.7% | 59.1% | 56.3% | 57.7% | 57.5% |
Selling, general and administrative | 1,020 | 925 | 980 | 1,131 | 1,062 | 1,056 |
Research and development | 101 | 87 | 133 | 172 | 172 | 143 |
EBITA | 388 | 131 | 321 | 389 | 469 | 486 |
EBITA margin | 15.5% | 6.8% | 14.1% | 13.7% | 16.7% | 17.5% |
Amortization of intangibles | 82 | 87 | 86 | 91 | 82 | 83 |
EBIT | 306 | 44 | 236 | 298 | 387 | 403 |
EBIT margin | 12.2% | 2.3% | 10.3% | 10.5% | 13.8% | 14.5% |
Pre-tax income | 255 | -20 | 234 | 301 | 387 | 402 |
Income taxes | -9 | -63 | 50 | 70 | 86 | 130 |
Tax rate | | 312.5% | 21.2% | 23.4% | 22.1% | 32.3% |
Net income | 341 | 33 | 218 | 231 | 301 | 272 |
Net margin | 13.6% | 1.7% | 9.5% | 8.1% | 10.7% | 9.8% |
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Diluted EPS | $1.48 | $0.26 | $1.35 | $1.80 | $2.35 | |
Shares outstanding (diluted) | 178 | 164 | 136 | 128 | 128 | |
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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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