Financial Summary (All financials)
| 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 |
| Revenues | 9,673.0 | 8,537.0 | 5,655.0 | 6,297.0 | 7,155.0 | 6,140.0 | -2,579.0 | 5,674.0 |
| Revenue growth | 13.3% | 51.0% | -10.2% | -12.0% | 16.5% | -338.1% | -145.5% | -16.6% |
| Cost of goods sold | 7,293.0 | 5,855.0 | 4,362.0 | 4,691.0 | 5,183.0 | 4,629.0 | -3,984.0 | 4,356.0 |
| Gross profit | 2,380.0 | 2,682.0 | 1,293.0 | 1,606.0 | 1,972.0 | 1,511.0 | 1,405.0 | 1,318.0 |
| Gross margin | 24.6% | 31.4% | 22.9% | 25.5% | 27.6% | 24.6% | -54.5% | 23.2% |
| Selling, general and administrative | 824.0 | 633.0 | 482.0 | 483.0 | 546.0 | 496.0 | 378.0 | 506.0 |
| Research and development | 112.0 | 86.0 | 74.0 | 67.0 | 72.0 | 73.0 | 78.0 | 119.0 |
| EBITA | 1,652.0 | 2,120.0 | 781.0 | 837.0 | 1,600.0 | 1,001.0 | 1,090.0 | 167.0 |
| EBITA margin | 17.1% | 24.8% | 13.8% | 13.3% | 22.4% | 16.3% | -42.3% | 2.9% |
| Amortization of intangibles | 62.0 | 25.0 | 22.0 | 24.0 | 24.0 | 20.0 | 9.0 | 11.0 |
| EBIT | 1,590.0 | 2,095.0 | 759.0 | 813.0 | 1,576.0 | 981.0 | 1,081.0 | 156.0 |
| EBIT margin | 16.4% | 24.5% | 13.4% | 12.9% | 22.0% | 16.0% | -41.9% | 2.7% |
| Pre-tax income | 1,421.0 | 2,248.0 | 2,251.0 | 988.0 | 1,510.0 | 1,075.0 | 1,030.0 | 488.0 |
| Income taxes | -489.0 | 330.0 | 247.0 | 124.0 | 292.0 | 213.0 | 122.0 | 201.0 |
| Tax rate | | 14.7% | 11.0% | 12.6% | 19.3% | 19.8% | 11.8% | 41.2% |
| Earnings from continuing ops | 3,812.0 | 3,830.0 | 4,001.0 | 1,722.0 | 2,430.0 | 1,718.0 | 1,810.0 | 593.0 |
| Earnings from discontinued ops | -8.0 | -22.0 | -12.0 | -6.0 | -5.0 | -13.0 | -2.0 | -2.0 |
| Net income | 3,804.0 | 3,808.0 | 3,989.0 | 1,716.0 | 2,425.0 | 1,705.0 | 1,808.0 | 591.0 |
| Net margin | 39.3% | 44.6% | 70.5% | 27.3% | 33.9% | 27.8% | -70.1% | 10.4% |
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| Diluted EPS | $34.90 | $34.17 | $33.77 | $13.81 | $17.94 | $12.42 | $12.43 | $3.89 |
| Shares outstanding (diluted) | 109.2 | 112.1 | 118.5 | 124.7 | 135.4 | 138.3 | 145.7 | 152.3 |
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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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