Financial Summary (All financials)
In millions, except per share items | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 |
Revenues | 24,704.0 | 24,440.0 | 23,222.0 | 21,714.0 | 20,008.0 | 17,015.1 | 14,025.9 | 14,876.2 |
Revenue growth | 1.1% | 5.2% | 6.9% | 8.5% | 17.6% | 21.3% | -5.7% | 12.4% |
Cost of goods sold | 9,713.0 | 9,191.0 | 8,749.0 | 8,076.0 | 7,839.0 | 6,984.1 | 6,281.0 | 6,653.8 |
Gross profit | 14,991.0 | 15,249.0 | 14,473.0 | 13,638.0 | 12,169.0 | 10,031.0 | 7,744.9 | 8,222.4 |
Gross margin | 60.7% | 62.4% | 62.3% | 62.8% | 60.8% | 59.0% | 55.2% | 55.3% |
Selling, general and administrative | 8,533.0 | 7,982.0 | 7,338.0 | 7,004.0 | 6,479.0 | 5,375.3 | 4,595.6 | 4,601.6 |
Research and development | 3,167.0 | 2,991.0 | 2,761.0 | 2,560.0 | 2,151.0 | 1,888.0 | 1,627.5 | 1,721.3 |
EBIT | 3,291.0 | 4,276.0 | 4,374.0 | 4,074.0 | 3,539.0 | 2,767.7 | 1,521.8 | 1,899.5 |
EBIT margin | 13.3% | 17.5% | 18.8% | 18.8% | 17.7% | 16.3% | 10.8% | 12.8% |
Pre-tax income | 2,882.0 | 3,762.0 | 3,865.0 | 3,804.0 | 3,249.0 | 2,608.0 | 1,374.6 | 1,600.2 |
Income taxes | 710.0 | 868.0 | 772.0 | 918.0 | 640.0 | 638.3 | 252.8 | 280.4 |
Tax rate | 24.6% | 23.1% | 20.0% | 24.1% | 19.7% | 24.5% | 18.4% | 17.5% |
Net income | 1,990.0 | 2,714.0 | 2,889.0 | 2,733.0 | 2,461.0 | 1,900.0 | 1,088.1 | 1,275.1 |
Net margin | 8.1% | 11.1% | 12.4% | 12.6% | 12.3% | 11.2% | 7.8% | 8.6% |
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Diluted EPS | $1.01 | $1.32 | $1.34 | $1.24 | $1.10 | $0.88 | $0.53 | $0.61 |
Shares outstanding (diluted) | 1,962.0 | 2,059.0 | 2,160.0 | 2,206.0 | 2,229.0 | 2,147.9 | 2,055.1 | 2,079.9 |
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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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