ABB LTD (ABB) [Rocket]

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	28,945	26,134	27,978	27,662	25,196	33,828	35,481	39,830
Revenue growth	10.8%	-6.6%	1.1%	9.8%	-25.5%	-4.7%	-10.9%	-4.8%
Cost of goods sold	19,478	18,256	19,072	19,118	17,350	24,081	25,347	28,615
Gross profit	9,467	7,878	8,906	8,544	7,846	9,747	10,134	11,215
Gross margin	32.7%	30.1%	31.8%	30.9%	31.1%	28.8%	28.6%	28.2%
Selling, general and administrative	5,162	4,895	5,447	5,295	4,765	5,349	5,574	6,067
Research and development	1,219	1,127	1,198	1,147	1,013	1,300	1,406	1,499
EBITA	6,036	2,233	2,338	2,564	2,769	3,356	3,445	5,175
EBITA margin	20.9%	8.5%	8.4%	9.3%	11.0%	9.9%	9.7%	13.0%
Amortization of intangibles	318	329	345	338	287	369	396	454
EBIT	5,718	1,904	1,993	2,226	2,482	2,987	3,049	4,721
EBIT margin	19.8%	7.3%	7.1%	8.0%	9.9%	8.8%	8.6%	11.9%
Pre-tax income	5,787	841	1,862	2,119	2,102	2,799	2,840	3,896
Income taxes	1,057	496	772	544	583	781	788	1,202
Tax rate	18.3%	59.0%	41.5%	25.7%	27.7%	27.9%	27.7%	30.9%
Earnings from continuing ops	4,626	286	1,001	1,450	1,367	1,883	1,930	2,570
Earnings from discontinued ops	-80	4,860	438	723	846	16	3	24
Net income	4,546	5,146	1,439	2,173	2,213	1,899	1,933	2,594
Net margin	15.7%	19.7%	5.1%	7.9%	8.8%	5.6%	5.4%	6.5%

Diluted EPS	$2.29	$0.13	$0.47	$0.68	$0.64	$0.87	$0.87	$1.12
Shares outstanding (diluted)	2,019	2,119	2,135	2,139	2,148	2,154	2,230	2,295

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.