Financial Summary (All financials)
In millions, except per share items | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 |
Revenues | 2,886.0 | 2,873.0 | 2,366.0 | 1,941.0 | 1,370.0 | 1,704.0 | 1,723.0 | 1,900.0 |
Revenue growth | 0.5% | 21.4% | 21.9% | 41.7% | -19.6% | -1.1% | -9.3% | -6.7% |
Cost of goods sold | 805.0 | 745.0 | 662.0 | 599.0 | 466.0 | 412.0 | 363.0 | 353.0 |
Gross profit | 2,081.0 | 2,128.0 | 1,704.0 | 1,342.0 | 904.0 | 1,292.0 | 1,360.0 | 1,547.0 |
Gross margin | 72.1% | 74.1% | 72.0% | 69.1% | 66.0% | 75.8% | 78.9% | 81.4% |
Selling, general and administrative | | | | | | | | |
Sales and marketing | 196.0 | 200.0 | 166.0 | 131.0 | 124.0 | 120.0 | 108.0 | 139.0 |
Research and development | | | | | | | | |
General and administrative | 204.0 | 212.0 | 220.0 | 184.0 | 193.0 | 112.0 | 85.0 | 86.0 |
EBITA | 1,403.0 | 1,482.0 | 1,173.0 | 949.0 | 278.0 | 595.0 | 503.0 | 417.0 |
EBITA margin | 48.6% | 51.6% | 49.6% | 48.9% | 20.3% | 34.9% | 29.2% | 21.9% |
Amortization of intangibles | 61.0 | 48.0 | 36.0 | 23.0 | 20.0 | 22.0 | 24.0 | 25.0 |
EBIT | 1,342.0 | 1,434.0 | 1,137.0 | 926.0 | 258.0 | 573.0 | 479.0 | 392.0 |
EBIT margin | 46.5% | 49.9% | 48.1% | 47.7% | 18.8% | 33.6% | 27.8% | 20.6% |
Pre-tax income | 1,319.0 | 1,418.0 | 1,064.0 | 838.0 | 91.0 | 452.0 | 195.0 | -131.0 |
Income taxes | 364.0 | 366.0 | 450.0 | 286.0 | -177.0 | 159.0 | 109.0 | -18.0 |
Tax rate | 27.6% | 25.8% | 42.3% | 34.1% | | 35.2% | 55.9% | 13.7% |
Net income | 915.0 | 1,016.0 | 589.0 | 552.0 | 268.0 | 293.0 | 86.0 | -113.0 |
Net margin | 31.7% | 35.4% | 24.9% | 28.4% | 19.6% | 17.2% | 5.0% | -5.9% |
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Diluted EPS | $3.85 | $3.88 | $2.15 | $1.98 | $0.91 | $1.00 | $0.29 | ($0.40) |
Shares outstanding (diluted) | 237.9 | 261.7 | 274.4 | 279.0 | 295.0 | 294.1 | 292.6 | 285.7 |
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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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