Financial Summary (All financials)
| In millions, except per share items | Dec-31-04 | Dec-31-03 | Dec-31-02 |
| Revenues | 8,586 | 7,719 | 6,918 |
| Revenue growth | 11.2% | 11.6% | |
| Cost of goods sold | 3,036 | 2,787 | 2,516 |
| Gross profit | 5,550 | 4,932 | 4,402 |
| Gross margin | 64.6% | 63.9% | 63.6% |
| Selling, general and administrative | 2,331 | 1,977 | 1,707 |
| EBITA | 1,887 | 1,641 | 1,351 |
| EBITA margin | 22.0% | 21.3% | 19.5% |
| Amortization of intangibles | 210 | 183 | 177 |
| EBIT | 1,677 | 1,458 | 1,174 |
| EBIT margin | 19.5% | 18.9% | 17.0% |
| Pre-tax income | 1,728 | 945 | -202 |
| Income taxes | 715 | 321 | -16 |
| Tax rate | 41.4% | 34.0% | 7.9% |
| Earnings from continuing ops | 986 | 570 | -213 |
| Earnings from discontinued ops | | 3,290 | |
| Net income | 986 | 4,028 | -20 |
| Net margin | 11.5% | 52.2% | -0.3% |
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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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