Overview Financials News + Filings Key Docs Ownership
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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 |
| 10-K | 10-K | 10-K | 20-F | 20-F | 20-F | 20-F | 20-F |
Revenues: |
Agricultural Equipment | | | | | | | | 11,025 |
Construction Equipment | | | | | | | | 2,542 |
Commercial Vehicles | | | | | | | | 9,542 |
Powertrain | | | | 4,117 | 4,565 | 4,369 | | 3,560 |
Other | | | | 23,962 | 25,141 | 23,332 | | |
Total revenues [+] | 23,551 | 19,496 | 14,779 | 28,079 | 29,706 | 27,701 | 25,095 | 25,912 |
Products | 21,541 | 17,802 | 13,083 | 26,149 | 27,831 | 25,769 | | 24,677 |
Net interest income | | | | | | | 1,879 | |
Financial services | | | | | | | 1,190 | 1,235 |
Revenue growth [+] | 20.8% | 31.9% | -47.4% | -5.5% | 7.2% | 10.4% | -3.2% | -20.4% |
Agricultural Equipment | | | | | | | | -27.5% |
Construction Equipment | | | | | | | | -24.0% |
Commercial Vehicles | | | | | | | | -12.4% |
Powertrain | | | | -9.8% | 4.5% | | | -20.3% |
Financial Services | 19.4% | 0.7% | -17.5% | 1.1% | -1.9% | 5.8% | 19.5% | -12.3% |
Cost of goods sold | 16,797 | 14,109 | 11,152 | 21,832 | 22,958 | 21,572 | 19,420 | 20,357 |
Gross profit | 6,754 | 5,387 | 3,627 | 6,247 | 6,748 | 6,129 | 5,675 | 5,555 |
Gross margin | 28.7% | 27.6% | 24.5% | 22.2% | 22.7% | 22.1% | 22.6% | 21.4% |
Selling, general and administrative | 1,752 | 1,454 | 1,296 | 2,216 | 2,351 | 2,315 | 2,246 | 2,317 |
Research and development | 866 | 642 | 493 | 1,030 | 1,061 | 957 | 860 | 856 |
Equity in earnings | 104 | 91 | 66 | 13 | 50 | 88 | 58 | 41 |
Other operating expenses | 793 | 859 | 816 | 937 | 1,047 | 88 | 58 | 41 |
EBITDA [+] | | | | | | 3,582 | 3,285 | |
EBITDA growth | 36.6% | 131.9% | -47.6% | -11.2% | -34.7% | 9.0% | 37.9% | -28.5% |
EBITDA margin | 14.6% | 12.9% | 7.4% | 7.4% | 7.9% | 12.9% | 13.1% | 9.2% |
Depreciation | -130 | -85 | -72 | -112 | -116 | 610 | 605 | -107 |
EBITA | 3,577 | 2,608 | 1,160 | 2,189 | 2,455 | 2,972 | 2,680 | 2,489 |
EBITA margin | 15.2% | 13.4% | 7.8% | 7.8% | 8.3% | 10.7% | 10.7% | 9.6% |
Amortization of intangibles | 130 | 85 | 72 | 112 | 116 | 115 | 111 | 107 |
EBIT [+] | 3,447 | 2,523 | 1,088 | 2,077 | 2,339 | 2,857 | 2,569 | 2,382 |
EBIT growth | 36.6% | 131.9% | -47.6% | -11.2% | -18.1% | 11.2% | 7.9% | 8.7% |
EBIT margin | 14.6% | 12.9% | 7.4% | 7.4% | 7.9% | 10.3% | 10.2% | 9.2% |
Non-recurring items [+] | 31 | 35 | 607 | 109 | 61 | 93 | 44 | 84 |
Asset impairment | | | 585 | | | | | |
Interest expense | 734 | 549 | 660 | 798 | 812 | 940 | 1,026 | 1,106 |
Interest expense | 734 | 549 | 660 | 798 | 812 | 940 | 1,026 | 1,106 |
Other income (expense), net | | | | | | -1,165 | -1,521 | -625 |
Pre-tax income | 2,682 | 1,939 | -179 | 1,170 | 1,466 | 659 | -22 | 567 |
Income taxes | 747 | 229 | 85 | -271 | 417 | 457 | 297 | 360 |
Tax rate | 27.9% | 11.8% | | | 28.4% | 69.3% | | 63.5% |
Minority interest | 10 | 37 | 55 | 32 | 31 | 18 | 3 | -5 |
Earnings from continuing ops | 2,029 | 3,565 | -253 | 1,422 | 1,068 | 272 | -264 | 253 |
Earnings from discontinued ops | | -41 | -240 | | | | | |
Net income | 2,029 | 3,524 | -493 | 1,422 | 1,068 | 272 | -264 | 253 |
Net margin | 8.6% | 18.1% | -3.3% | 5.1% | 3.6% | 1.0% | -1.1% | 1.0% |
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Basic EPS [+] | $1.50 | $2.63 | ($0.19) | $1.05 | $0.79 | $0.20 | ($0.19) | $0.19 |
Growth | -43.0% | -1506.0% | -117.8% | 33.6% | 294.7% | -202.9% | -204.3% | -64.5% |
Diluted EPS [+] | $1.49 | $2.62 | ($0.19) | $1.05 | $0.78 | $0.20 | ($0.19) | $0.19 |
Growth | -43.1% | -1498.7% | -117.8% | 33.8% | 294.4% | -202.7% | -204.4% | -64.4% |
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Dividends per share [+] | $0.30 | $0.13 | $0.01 | $0.20 | $0.17 | $0.12 | $0.15 | $0.21 |
Growth | 128.8% | 2129.2% | -97.1% | 17.3% | 46.6% | -20.3% | -30.8% | -22.7% |
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Shares outstanding (basic) [+] | 1,351 | 1,354 | 1,351 | 1,352 | 1,357 | 1,364 | 1,362 | 1,361 |
Growth | -0.2% | 0.2% | -0.1% | -0.4% | -0.5% | 0.1% | 0.1% | 0.5% |
Shares outstanding (diluted) [+] | 1,362 | 1,361 | 1,351 | 1,354 | 1,361 | 1,367 | 1,362 | 1,363 |
Growth | 0.1% | 0.7% | -0.2% | -0.5% | -0.4% | 0.4% | -0.1% | 0.2% |
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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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