Financial Summary (All financials)
In millions, except per share items | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 |
Revenues | 13,382.0 | 11,908.0 | 7,869.0 | 8,698.0 | 18,470.0 | 14,581.0 | 13,411.0 | 13,967.0 |
Revenue growth | 12.4% | 51.3% | -9.5% | -52.9% | 26.7% | 8.7% | -4.0% | 27.2% |
Cost of goods sold | 1,153.0 | 988.0 | 807.0 | 2,068.0 | 2,201.0 | 1,961.0 | 1,739.0 | 2,049.0 |
Gross profit | 12,229.0 | 10,920.0 | 7,062.0 | 6,630.0 | 16,269.0 | 12,620.0 | 11,672.0 | 11,918.0 |
Gross margin | 91.4% | 91.7% | 89.7% | 76.2% | 88.1% | 86.6% | 87.0% | 85.3% |
General and administrative | 1,910.0 | 1,576.0 | 1,759.0 | 1,729.0 | 2,560.0 | 2,167.0 | 2,470.0 | 2,552.0 |
EBITA | 3,451.0 | -126.0 | -2,145.0 | -3,734.0 | 6,239.0 | 4,127.0 | 2,069.0 | 154.0 |
EBITA margin | 25.8% | -1.1% | -27.3% | -42.9% | 33.8% | 28.3% | 15.4% | 1.1% |
Amortization of intangibles | 32.0 | 31.0 | | | | | | |
EBIT | 3,419.0 | -157.0 | -2,145.0 | -3,734.0 | 6,239.0 | 4,127.0 | 2,069.0 | 154.0 |
EBIT margin | 25.5% | -1.3% | -27.3% | -42.9% | 33.8% | 28.3% | 15.4% | 1.1% |
Pre-tax income | 1,485.0 | -1,688.0 | -3,829.0 | -9,689.0 | 54.0 | 2,106.0 | 3,565.0 | -3,424.0 |
Income taxes | 733.0 | -1,477.0 | -1,021.0 | -2,877.0 | 1,617.0 | 1,165.0 | 1,120.0 | -856.0 |
Tax rate | 49.4% | 87.5% | 26.7% | 29.7% | 2994.4% | 55.3% | 31.4% | 25.0% |
Net income | 615.0 | -456.0 | -3,071.0 | -6,692.0 | -1,750.0 | 801.0 | 2,391.0 | -2,649.0 |
Net margin | 4.6% | -3.8% | -39.0% | -76.9% | -9.5% | 5.5% | 17.8% | -19.0% |
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Diluted EPS | $1.22 | ($0.83) | ($5.88) | ($13.17) | ($3.46) | $1.59 | $4.76 | ($5.32) |
Shares outstanding (diluted) | 504.0 | 548.0 | 522.0 | 508.0 | 506.0 | 505.0 | 502.0 | 498.0 |
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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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