Financial Summary (All financials)
In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
Revenues | 5,291.4 | 5,116.8 | 4,607.5 | 5,755.2 | 5,645.3 | 5,527.3 | 5,435.2 | 5,266.1 |
Revenue growth | 3.4% | 11.1% | -19.9% | 1.9% | 2.1% | 1.7% | 3.2% | 8.1% |
Cost of goods sold | 1,001.0 | 971.1 | 887.2 | 1,021.6 | 1,008.0 | 980.1 | 971.1 | 960.2 |
Gross profit | 4,290.5 | 4,145.7 | 3,720.3 | 4,733.5 | 4,637.3 | 4,547.3 | 4,464.1 | 4,305.9 |
Gross margin | 81.1% | 81.0% | 80.7% | 82.2% | 82.1% | 82.3% | 82.1% | 81.8% |
Sales and marketing | 107.8 | 114.3 | 98.6 | 150.3 | 151.2 | 150.9 | 142.8 | 134.9 |
General and administrative | 35.0 | 30.3 | 22.6 | 34.9 | 46.5 | 52.0 | 65.1 | 60.3 |
EBIT | 3,231.5 | 3,196.0 | 2,191.7 | 3,357.1 | 3,401.5 | 3,202.6 | 3,074.2 | 2,953.7 |
EBIT margin | 61.1% | 62.5% | 47.6% | 58.3% | 60.3% | 57.9% | 56.6% | 56.1% |
Pre-tax income | 2,452.4 | 2,568.7 | 1,277.3 | 2,423.2 | 2,822.3 | 2,244.9 | 2,134.7 | 2,139.4 |
Income taxes | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Net income | 2,136.2 | 2,246.3 | 1,109.2 | 2,098.2 | 2,436.7 | 1,944.6 | 1,835.6 | 1,824.4 |
Net margin | 40.4% | 43.9% | 24.1% | 36.5% | 43.2% | 35.2% | 33.8% | 34.6% |
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Diluted EPS | $6.52 | $6.84 | $3.59 | $6.81 | $7.87 | $6.24 | $5.87 | $5.88 |
Shares outstanding (diluted) | 327.8 | 328.6 | 308.7 | 308.0 | 309.6 | 311.5 | 312.7 | 310.1 |
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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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