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 |
| Revenues | 3,817 | 3,556 | 3,263 | 3,032 | 3,142 | 2,957 | 2,935 |
| Revenue growth | 7.3% | 9.0% | 7.6% | -3.5% | 6.3% | 0.7% | |
| Cost of goods sold | 3,041 | 2,745 | 2,290 | 2,152 | 2,310 | 2,095 | 2,048 |
| Gross profit | 776 | 811 | 973 | 880 | 832 | 862 | 887 |
| Gross margin | 20.3% | 22.8% | 29.8% | 29.0% | 26.5% | 29.2% | 30.2% |
| Selling, general and administrative | 340 | 320 | 358 | 305 | 288 | 294 | 325 |
| EBIT | 1,094 | 1,118 | 1,302 | 1,120 | 1,089 | 540 | 534 |
| EBIT margin | 28.7% | 31.4% | 39.9% | 36.9% | 34.7% | 18.3% | 18.2% |
| Pre-tax income | 338 | 430 | 516 | 301 | 233 | 218 | 133 |
| Income taxes | -80 | -106 | -153 | -76 | -57 | -84 | 54 |
| Tax rate | | | | | | | 40.6% |
| Net income | 258 | 324 | 363 | 225 | 176 | 302 | 79 |
| Net margin | 6.8% | 9.1% | 11.1% | 7.4% | 5.6% | 10.2% | 2.7% |
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| Diluted EPS | $1.97 | $2.28 | $2.87 | $3.28 | $3.30 | $1.94 | |
| Shares outstanding (diluted) | 210 | 210 | 205 | 156 | 156 | 155 | |
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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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