Financial Summary (All financials)
In millions, except per share items | Dec-31-22 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 4,577 | 3,415 | 4,119 | 4,565 | 5,148 | 5,090 | 5,264 | 5,563 |
Revenue growth | | -17.1% | -9.8% | -11.3% | 1.1% | -3.3% | -5.4% | 3.2% |
Cost of goods sold | 0 | 3,602 | 3,402 | 3,638 | 4,159 | 4,051 | 4,147 | 4,396 |
Gross profit | 4,577 | -187 | 717 | 927 | 989 | 1,039 | 1,117 | 1,167 |
Gross margin | 100.0% | -5.5% | 17.4% | 20.3% | 19.2% | 20.4% | 21.2% | 21.0% |
Selling, general and administrative | 0 | 0 | 289 | 292 | 444 | 418 | 394 | 416 |
EBITA | 424 | -223 | 207 | 394 | 271 | 288 | 388 | 417 |
EBITA margin | 9.3% | -6.5% | 5.0% | 8.6% | 5.3% | 5.7% | 7.4% | 7.5% |
Amortization of intangibles | | 1 | 1 | 1 | 19 | 19 | 19 | 21 |
EBIT | 424 | -224 | 206 | 393 | 252 | 269 | 369 | 396 |
EBIT margin | 9.3% | -6.6% | 5.0% | 8.6% | 4.9% | 5.3% | 7.0% | 7.1% |
Pre-tax income | 422 | -228 | 79 | 351 | -383 | 157 | 156 | 261 |
Income taxes | 101 | -80 | 11 | 68 | -125 | 29 | 14 | -170 |
Tax rate | 23.9% | 35.1% | 13.9% | 19.4% | 32.6% | 18.5% | 9.0% | |
Earnings from continuing ops | 339 | -151 | 66 | 281 | -258 | 128 | 142 | 431 |
Earnings from discontinued ops | | | | 2 | | | | |
Net income | 339 | -127 | 84 | 283 | -258 | 128 | 142 | 431 |
Net margin | 7.4% | -3.7% | 2.0% | 6.2% | -5.0% | 2.5% | 2.7% | 7.7% |
|
Diluted EPS | | ($2.73) | $1.07 | $4.45 | ($4.11) | $2.04 | $2.24 | $6.64 |
Shares outstanding (diluted) | | 55 | 61 | 63 | 63 | 63 | 63 | 65 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|