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 | Dec-31-15 | Dec-31-14 |
| Revenues | 11,138 | 9,150 | 9,041 | 9,352 | 8,307 | 7,411 | 7,467 | 9,724 |
| Revenue growth | 21.7% | 1.2% | -3.3% | 12.6% | 12.1% | -0.8% | -23.2% | -9.9% |
| Cost of goods sold | 8,566 | 7,092 | 7,057 | 7,355 | 6,541 | 5,895 | 5,907 | 7,657 |
| Gross profit | 2,572 | 2,058 | 1,984 | 1,997 | 1,765 | 1,516 | 1,561 | 2,066 |
| Gross margin | 23.1% | 22.5% | 21.9% | 21.4% | 21.3% | 20.5% | 20.9% | 21.3% |
| Selling, general and administrative | 1,088 | 1,002 | 1,040 | 1,069 | 965 | 865 | 852 | 995 |
| Research and development | 406 | 343 | 343 | 355 | 323 | 298 | 282 | 337 |
| EBITA | 1,143 | 744 | 637 | 600 | 512 | 398 | 483 | 787 |
| EBITA margin | 10.3% | 8.1% | 7.0% | 6.4% | 6.2% | 5.4% | 6.5% | 8.1% |
| Amortization of intangibles | 61 | 60 | 61 | 65 | 57 | 51 | 43 | 41 |
| EBIT | 1,082 | 685 | 576 | 535 | 455 | 346 | 441 | 746 |
| EBIT margin | 9.7% | 7.5% | 6.4% | 5.7% | 5.5% | 4.7% | 5.9% | 7.7% |
| Pre-tax income | 944 | 562 | 261 | 360 | 284 | 205 | 279 | 539 |
| Income taxes | 108 | 188 | 181 | 111 | 134 | 92 | 73 | 188 |
| Tax rate | 11.5% | 33.4% | 69.2% | 30.8% | 47.1% | 45.0% | 25.9% | 34.8% |
| Net income | 897 | 427 | 125 | 286 | 186 | 160 | 266 | 410 |
| Net margin | 8.1% | 4.7% | 1.4% | 3.1% | 2.2% | 2.2% | 3.6% | 4.2% |
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| Diluted EPS | $11.85 | $5.65 | $1.63 | $3.58 | $2.32 | $1.96 | $3.06 | $4.36 |
| Shares outstanding (diluted) | 76 | 76 | 77 | 80 | 80 | 82 | 87 | 94 |
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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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