Financial Summary (All financials)
| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| Revenues | 8,256.0 | 7,350.0 | 7,511.0 | 6,282.0 | 6,124.0 | 5,711.0 | 7,386.0 | 9,226.0 |
| Revenue growth | 12.3% | -2.1% | 19.6% | 2.6% | 7.2% | -22.7% | -19.9% | 13.8% |
| Cost of goods sold | 2,335.0 | 1,745.0 | 2,019.0 | 1,504.0 | 4,894.0 | 2,966.0 | 1,264.0 | 1,878.0 |
| Gross profit | 5,921.0 | 5,605.0 | 5,492.0 | 4,778.0 | 1,230.0 | 2,745.0 | 6,122.0 | 7,348.0 |
| Gross margin | 71.7% | 76.3% | 73.1% | 76.1% | 20.1% | 48.1% | 82.9% | 79.6% |
| Selling, general and administrative | | | | | | | | |
| General and administrative | 528.0 | 516.0 | 474.0 | 404.0 | 391.0 | 384.0 | 374.0 | 388.0 |
| EBITA | 1,371.0 | 1,224.0 | 1,071.0 | 1,175.0 | 1,401.0 | 1,235.0 | -698.0 | 1,243.0 |
| EBITA margin | 16.6% | 16.7% | 14.3% | 18.7% | 22.9% | 21.6% | -9.5% | 13.5% |
| Amortization of intangibles | | | | | | 4.0 | 2.0 | |
| EBIT | 1,371.0 | 1,224.0 | 1,071.0 | 1,175.0 | 1,401.0 | 1,231.0 | -700.0 | 1,243.0 |
| EBIT margin | 16.6% | 16.7% | 14.3% | 18.7% | 22.9% | 21.6% | -9.5% | 13.5% |
| Pre-tax income | 778.0 | 563.0 | 545.0 | 551.0 | 1,063.0 | 686.0 | -1,130.0 | 885.0 |
| Income taxes | 110.0 | 80.0 | 30.0 | 155.0 | -729.0 | 254.0 | -438.0 | 274.0 |
| Tax rate | 14.1% | 14.2% | 5.5% | 28.1% | | 37.0% | 38.8% | 31.0% |
| Net income | 1,391.0 | -949.0 | 674.0 | 333.0 | 1,792.0 | 432.0 | -692.0 | 611.0 |
| Net margin | 16.8% | -12.9% | 9.0% | 5.3% | 29.3% | 7.6% | -9.4% | 6.6% |
| |
| Diluted EPS | $2.28 | ($1.79) | $1.33 | $0.74 | $4.13 | $1.00 | ($1.61) | $1.42 |
| Shares outstanding (diluted) | 609.9 | 531.0 | 505.2 | 452.5 | 434.3 | 433.6 | 430.2 | 431.7 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|