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 | 7,844 | 7,156 | 6,207 | 6,915 | 6,405 | 6,516 | 6,543 | 6,373 |
| Revenue growth | 9.6% | 15.3% | -10.2% | 8.0% | -1.7% | -0.4% | 2.7% | -3.3% |
| Cost of goods sold | 5,986 | 5,263 | 4,683 | 4,994 | 4,730 | 4,661 | 4,725 | 4,904 |
| Gross profit | 1,858 | 1,893 | 1,524 | 1,921 | 1,675 | 1,855 | 1,818 | 1,469 |
| Gross margin | 23.7% | 26.5% | 24.6% | 27.8% | 26.2% | 28.5% | 27.8% | 23.1% |
| Selling, general and administrative | 1,152 | 1,151 | 1,069 | 1,051 | 1,005 | 923 | 904 | 1,042 |
| Research and development | 217 | 268 | 234 | 259 | 252 | 241 | 225 | 230 |
| EBITA | 661 | 606 | 302 | 697 | 418 | 691 | 689 | 197 |
| EBITA margin | 8.4% | 8.5% | 4.9% | 10.1% | 6.5% | 10.6% | 10.5% | 3.1% |
| Amortization of intangibles | 172 | 132 | 81 | 86 | | | | |
| EBIT | 489 | 474 | 221 | 611 | 418 | 691 | 689 | 197 |
| EBIT margin | 6.2% | 6.6% | 3.6% | 8.8% | 6.5% | 10.6% | 10.5% | 3.1% |
| Pre-tax income | 211 | 284 | -59 | 341 | 39 | 482 | 379 | -95 |
| Income taxes | 148 | 186 | -53 | -273 | 73 | 242 | 92 | 55 |
| Tax rate | 70.1% | 65.5% | 89.8% | | 187.2% | 50.2% | 24.3% | |
| Earnings from continuing ops | 48 | 81 | -38 | 504 | -85 | 128 | 234 | -158 |
| Earnings from discontinued ops | -4 | | -72 | -50 | -52 | -5 | -13 | -24 |
| Net income | 44 | 81 | -110 | 454 | -137 | 123 | 221 | -182 |
| Net margin | 0.6% | 1.1% | -1.8% | 6.6% | -2.1% | 1.9% | 3.4% | -2.9% |
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| Diluted EPS | $0.34 | $0.58 | ($0.30) | $3.47 | ($0.72) | $1.01 | $1.81 | ($0.94) |
| Shares outstanding (diluted) | 141 | 139 | 128 | 145 | 118 | 127 | 129 | 168 |
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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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