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 | 5,060.4 | 5,277.7 | 5,172.3 | 4,202.0 | 2,074.9 | 2,103.7 | 1,727.8 | 1,515.1 |
Revenue growth | -4.1% | 2.0% | 23.1% | 102.5% | -1.4% | 21.8% | 14.0% | 20.2% |
Cost of goods sold | 6,219.8 | 5,339.8 | 4,079.2 | 3,135.4 | 1,772.4 | 2,403.9 | 899.7 | 799.6 |
Gross profit | -1,159.4 | -62.1 | 1,093.1 | 1,066.6 | 302.6 | -300.2 | 828.1 | 715.5 |
Gross margin | -22.9% | -1.2% | 21.1% | 25.4% | 14.6% | -14.3% | 47.9% | 47.2% |
Selling, general and administrative | | | | | | | | |
General and administrative | 46.8 | 41.2 | 97.0 | 94.1 | 34.0 | 18.6 | 37.4 | 76.5 |
EBITA | -1,220.9 | -100.4 | 1,074.1 | 1,022.9 | 297.3 | -273.4 | 660.1 | 529.9 |
EBITA margin | -24.1% | -1.9% | 20.8% | 24.3% | 14.3% | -13.0% | 38.2% | 35.0% |
Amortization of intangibles | 6.5 | 7.2 | | | | | | |
EBIT | -1,227.4 | -107.6 | 1,074.1 | 1,022.9 | 297.3 | -273.4 | 660.1 | 529.9 |
EBIT margin | -24.3% | -2.0% | 20.8% | 24.3% | 14.3% | -13.0% | 38.2% | 35.0% |
Pre-tax income | -1,218.8 | -114.1 | 995.9 | 967.5 | 262.6 | -328.2 | 630.4 | 496.4 |
Income taxes | -59.0 | -10.7 | 2.9 | 17.2 | -6.3 | 26.5 | 0.3 | -45.9 |
Tax rate | 4.8% | 9.3% | 0.3% | 1.8% | | | 0.1% | |
Net income | -1,096.6 | -73.4 | 731.5 | 712.0 | 197.3 | -244.8 | 480.6 | 408.8 |
Net margin | -21.7% | -1.4% | 14.1% | 16.9% | 9.5% | -11.6% | 27.8% | 27.0% |
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Diluted EPS | ($25.48) | ($1.56) | $15.50 | $16.49 | $4.96 | ($6.14) | $11.56 | $9.39 |
Shares outstanding (diluted) | 43.0 | 47.2 | 47.2 | 43.2 | 39.8 | 39.9 | 41.6 | 43.5 |
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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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