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 | 44,650 | 58,982 | 41,462 | 35,481 | 35,942 | 32,073 | 30,608 | 33,820 |
| Revenue growth | -24.3% | 42.3% | 16.9% | -1.3% | 12.1% | 4.8% | -9.5% | -2.1% |
| Cost of goods sold | 15,148 | 17,719 | 13,309 | 13,382 | 13,137 | 12,386 | 12,236 | 13,450 |
| Gross profit | 29,502 | 41,263 | 28,153 | 22,099 | 22,805 | 19,687 | 18,372 | 20,370 |
| Gross margin | 66.1% | 70.0% | 67.9% | 62.3% | 63.4% | 61.4% | 60.0% | 60.2% |
| Selling, general and administrative | 2,913 | 2,629 | 2,266 | 2,055 | 1,954 | 1,753 | 1,538 | 1,520 |
| Research and development | | | | 1,167 | 1,023 | 897 | 809 | 806 |
| General and administrative | | | | 1,316 | 1,214 | 1,165 | 1,081 | 963 |
| EBITA | -1,662 | 9,325 | -830 | 17,346 | 18,652 | 16,035 | 15,189 | 17,185 |
| EBITA margin | -3.7% | 15.8% | -2.0% | 48.9% | 51.9% | 50.0% | 49.6% | 50.8% |
| Amortization of intangibles | | | | 173 | 152 | 150 | 162 | 132 |
| EBIT | -1,662 | 9,325 | -830 | 17,173 | 18,500 | 15,885 | 15,027 | 17,053 |
| EBIT margin | -3.7% | 15.8% | -2.0% | 48.4% | 51.5% | 49.5% | 49.1% | 50.4% |
| Pre-tax income | 13,486 | 27,044 | 12,479 | 10,583 | 12,481 | 11,132 | 10,304 | 8,778 |
| Income taxes | 2,225 | 5,409 | 3,020 | 2,117 | 2,022 | 6,846 | 2,906 | 2,695 |
| Tax rate | 16.5% | 20.0% | 24.2% | 20.0% | 16.2% | 61.5% | 28.2% | 30.7% |
| Net income | 10,764 | 21,151 | 8,915 | 7,897 | 9,860 | 3,685 | 7,087 | 5,568 |
| Net margin | 24.1% | 35.9% | 21.5% | 22.3% | 27.4% | 11.5% | 23.2% | 16.5% |
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| Diluted EPS | $30.06 | $59.45 | $24.74 | $21.03 | $25.27 | $9.01 | $16.29 | $12.14 |
| Shares outstanding (diluted) | 358 | 356 | 360 | 376 | 390 | 409 | 435 | 459 |
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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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