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 |
| Revenues | 2,693 | 2,879 | 2,778 | 2,714 | |
| Revenue growth | -6.5% | 3.6% | 2.4% | | |
| Cost of goods sold | 2,118 | 2,332 | 2,284 | 2,255 | |
| Gross profit | 575 | 547 | 494 | 459 | |
| Gross margin | 21.4% | 19.0% | 17.8% | 16.9% | |
| General and administrative | 357 | 293 | 283 | 277 | |
| EBITA | 571 | 245 | 190 | 172 | |
| EBITA margin | 21.2% | 8.5% | 6.8% | 6.3% | |
| Amortization of intangibles | 10 | 9 | 9 | 9 | |
| EBIT | 561 | 236 | 181 | 163 | |
| EBIT margin | 20.8% | 8.2% | 6.5% | 6.0% | |
| Pre-tax income | 525 | 200 | 112 | 95 | |
| Income taxes | 120 | 46 | 27 | 20 | |
| Tax rate | 22.9% | 23.0% | 24.1% | 21.1% | |
| Net income | 405 | 154 | 85 | 75 | |
| Net margin | 15.0% | 5.3% | 3.1% | 2.8% | |
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| Diluted EPS | | $1.06 | $0.59 | $0.52 | |
| Shares outstanding (diluted) | | 145 | 144 | 144 | |
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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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