RESIDEO TECHNOLOGIES, INC. (REZI) [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
	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
UNITED STATES	4,181	3,543	3,423	3,289	3,074
ADI Global Distribution				2,658	2,477
Europe				1,138	1,063
Other International				400	382
Other	1,665	1,528	1,565
Total revenues	5,846	5,071	4,988	4,827	4,519	4,455
Revenue growth [+]	15.3%	1.7%	3.3%	6.8%	1.4%
UNITED STATES	18.0%	3.5%	4.1%	7.0%
ADI Global Distribution				7.3%
Europe				7.1%
Other International				4.7%
Cost of goods sold	4,285	3,758	3,711	3,402	3,203	3,090
Gross profit	1,561	1,313	1,277	1,425	1,316	1,365
Gross margin	26.7%	25.9%	25.6%	29.5%	29.1%	30.6%
Selling, general and administrative	916	925	932	932	871	870
Research and development	86	77	87
Other operating expenses					-24	161
EBITDA [+]	647	397	338	559	536	398
EBITDA growth	63.0%	17.5%	-39.5%	4.3%	34.7%
EBITDA margin	11.1%	7.8%	6.8%	11.6%	11.9%	8.9%
Depreciation	58	55	50	45	57	57
EBITA	589	342	288	514	479	341
EBITA margin	10.1%	6.7%	5.8%	10.6%	10.6%	7.7%
Amortization of intangibles	30	31	30	21	10	7
EBIT [+]	559	311	258	493	469	334
EBIT growth	79.7%	20.5%	-47.7%	5.1%	40.4%
EBIT margin	9.6%	6.1%	5.2%	10.2%	10.4%	7.5%
Non-recurring items					24	21
Interest expense, net [+]	48	63	69	20	-3
Interest expense	48	63	69	20
Interest income					3
Other income (expense), net	-158	-147	-118	-369	-282	-3
Pre-tax income	353	101	71	104	166	310
Income taxes	111	64	35	-301	560	133
Tax rate	31.4%	63.4%	49.3%		337.3%	42.9%
Net income	242	37	36	405	-394	177
Net margin	4.1%	0.7%	0.7%	8.4%	-8.7%	4.0%

Basic EPS [+]	$1.68	$0.30	$0.29	$3.31	($3.22)	$1.44
Growth	469.2%	0.6%	-91.1%	-202.8%	-322.6%
Diluted EPS [+]	$1.63	$0.29	$0.29	$3.30	($3.22)	$1.44
Growth	456.6%	0.3%	-91.2%	-202.7%	-322.6%

Shares outstanding (basic) [+]	144	125	123	122	122	122
Growth	14.9%	2.1%	0.2%	0.0%	0.0%
Shares outstanding (diluted) [+]	148	126	123	123	122	122
Growth	17.5%	2.5%	0.5%	0.1%	0.0%

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