Financial Summary (All financials)
| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-05-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| Revenues | 8,498 | 7,055 | 7,160 | 7,057 | 7,057 | 6,384 | 5,677 | 5,350 |
| Revenue growth | 20.5% | -1.5% | 1.5% | 10.5% | | 12.5% | 6.1% | 1.7% |
| Cost of goods sold | 6,281 | 5,445 | 5,551 | 5,425 | 5,425 | 4,815 | 4,300 | 4,197 |
| Gross profit | 2,217 | 1,610 | 1,609 | 1,632 | 1,632 | 1,569 | 1,377 | 1,153 |
| Gross margin | 26.1% | 22.8% | 22.5% | 23.1% | 23.1% | 24.6% | 24.3% | 21.6% |
| Selling, general and administrative | 757 | 664 | 698 | 700 | 700 | 620 | 584 | 525 |
| Research and development | 91 | 82 | 87 | 89 | | 85 | 82 | 73 |
| EBITA | 1,488 | 854 | 837 | 806 | 807 | 828 | 719 | 571 |
| EBITA margin | 17.5% | 12.1% | 11.7% | 11.4% | 11.4% | 13.0% | 12.7% | 10.7% |
| Amortization of intangibles | 49 | 48 | 49 | | | 31 | 25 | 22 |
| EBIT | 1,439 | 806 | 788 | 806 | 807 | 797 | 694 | 549 |
| EBIT margin | 16.9% | 11.4% | 11.0% | 11.4% | 11.4% | 12.5% | 12.2% | 10.3% |
| Pre-tax income | 1,313 | -256 | 590 | 704 | 704 | 559 | 590 | 453 |
| Income taxes | 319 | 129 | 186 | 156 | 156 | 269 | 188 | 120 |
| Tax rate | 24.3% | | 31.5% | 22.2% | 22.2% | 48.1% | 31.9% | 26.5% |
| Net income | 995 | -383 | 405 | 545 | 547 | 289 | 393 | 330 |
| Net margin | 11.7% | -5.4% | 5.7% | 7.7% | 7.8% | 4.5% | 6.9% | 6.2% |
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| Diluted EPS | $9.54 | ($3.53) | $3.68 | $4.89 | $4.91 | $2.55 | $3.41 | $2.79 |
| Shares outstanding (diluted) | 104 | 109 | 110 | 111 | 111 | 113 | 115 | 118 |
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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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