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 | 23,105.0 | 20,910.0 | 18,111.0 | 13,332.0 | 14,834.0 | 20,973.0 | 14,076.0 | 8,682.0 |
Revenue growth | 10.5% | 15.5% | 35.8% | -10.1% | -29.3% | 49.0% | 62.1% | -58.8% |
Cost of goods sold | -1,509.0 | -1,398.0 | -1,344.0 | 1,434.0 | 1,227.0 | 1,098.0 | 989.0 | 975.0 |
Gross profit | 24,614.0 | 22,308.0 | 19,455.0 | 11,898.0 | 13,607.0 | 19,875.0 | 13,087.0 | 7,707.0 |
Gross margin | 106.5% | 106.7% | 107.4% | 89.2% | 91.7% | 94.8% | 93.0% | 88.8% |
Selling, general and administrative | 0.0 | 0.0 | 0.0 | | | | | |
General and administrative | 0.0 | 0.0 | 0.0 | 3,694.0 | 3,359.0 | 3,114.0 | 3,021.0 | 2,879.0 |
EBIT | 24,521.0 | 22,331.0 | 19,455.0 | 8,204.0 | 10,248.0 | 16,761.0 | 11,365.0 | 7,696.0 |
EBIT margin | 106.1% | 106.8% | 107.4% | 61.5% | 69.1% | 79.9% | 80.7% | 88.6% |
Pre-tax income | 11,604.0 | 15,199.0 | 9,229.0 | 9,049.0 | 11,474.0 | 16,834.0 | 11,639.0 | 9,274.0 |
Income taxes | 2,277.0 | 3,090.0 | 1,903.0 | 1,835.0 | 2,239.0 | 11,209.0 | 3,824.0 | -2,898.0 |
Tax rate | 19.6% | 20.3% | 20.6% | 20.3% | 19.5% | 66.6% | 32.9% | |
Net income | 342.0 | 489.0 | 35.0 | -573.0 | 3,612.0 | -3,244.0 | 97.0 | -23.0 |
Net margin | 1.5% | 2.3% | 0.2% | -4.3% | 24.3% | -15.5% | 0.7% | -0.3% |
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Diluted EPS | $0.11 | $0.15 | $0.01 | ($0.18) | $1.12 | ($1.00) | $0.03 | ($0.01) |
Shares outstanding (diluted) | 3,234.0 | 3,234.0 | 3,234.0 | 3,234.0 | 3,234.0 | 3,234.0 | 3,234.0 | 3,235.0 |
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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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