Financial Summary (All financials)
In millions, except per share items | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 | Dec-31-07 |
Revenues | 14,098.0 | 13,947.0 | 13,595.0 | 13,585.0 | 13,319.0 | 13,016.0 | 13,221.0 | 14,107.0 |
Revenue growth | 1.1% | 2.6% | 0.1% | 2.0% | 2.3% | -1.6% | -6.3% | 0.7% |
Cost of goods sold | 10,908.0 | 10,372.0 | 11,247.0 | 11,016.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Gross profit | 3,190.0 | 3,575.0 | 2,348.0 | 2,569.0 | 13,319.0 | 13,016.0 | 13,221.0 | 14,107.0 |
Gross margin | 22.6% | 25.6% | 17.3% | 18.9% | 100.0% | 100.0% | 100.0% | 100.0% |
General and administrative | 249.0 | 254.0 | 270.0 | 287.0 | 290.0 | 294.0 | 284.0 | 252.0 |
EBIT | 2,469.0 | 2,802.0 | 1,747.0 | 1,877.0 | 2,536.0 | 2,811.0 | 2,371.0 | 3,889.0 |
EBIT margin | 17.5% | 20.1% | 12.9% | 13.8% | 19.0% | 21.6% | 17.9% | 27.6% |
Pre-tax income | 2,861.0 | 3,237.0 | 1,996.0 | 2,199.0 | 2,988.0 | 2,962.0 | 2,407.0 | 3,937.0 |
Income taxes | 761.0 | 892.0 | 451.0 | 521.0 | 814.0 | 779.0 | 603.0 | 1,130.0 |
Tax rate | 26.6% | 27.6% | 22.6% | 23.7% | 27.2% | 26.3% | 25.1% | 28.7% |
Net income | 2,100.0 | 2,345.0 | 1,545.0 | 1,678.0 | 2,174.0 | 2,183.0 | 1,804.0 | 2,807.0 |
Net margin | 14.9% | 16.8% | 11.4% | 12.4% | 16.3% | 16.8% | 13.6% | 19.9% |
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Diluted EPS | $8.62 | $9.04 | $5.69 | $5.76 | $6.76 | $6.18 | $4.92 | $7.01 |
Shares outstanding (diluted) | 243.5 | 259.4 | 271.4 | 291.4 | 321.6 | 353.0 | 366.8 | 400.4 |
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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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