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 | 8,080 | 7,776 | 6,675 | 6,260 | 5,825 | 5,307 | 4,888 | 4,765 |
| Revenue growth | 3.9% | 16.5% | 6.6% | 7.5% | 9.8% | 8.6% | 2.6% | -0.4% |
| Cost of goods sold | 2,454 | 2,303 | 2,057 | 1,992 | 1,911 | 1,775 | 1,666 | 1,738 |
| Gross profit | 5,626 | 5,473 | 4,618 | 4,268 | 3,914 | 3,532 | 3,222 | 3,027 |
| Gross margin | 69.6% | 70.4% | 69.2% | 68.2% | 67.2% | 66.6% | 65.9% | 63.5% |
| Selling, general and administrative | 2,009 | 2,001 | 1,726 | 1,638 | 1,484 | 1,334 | 1,364 | 1,532 |
| Research and development | 539 | 508 | 463 | 457 | 432 | 382 | 376 | 364 |
| EBITA | 3,074 | 2,926 | 2,469 | 2,277 | 2,149 | 1,831 | 1,524 | 1,134 |
| EBITA margin | 38.0% | 37.6% | 37.0% | 36.4% | 36.9% | 34.5% | 31.2% | 23.8% |
| Amortization of intangibles | 193 | 204 | 230 | 237 | 157 | 100 | 95 | 64 |
| EBIT | 2,881 | 2,722 | 2,239 | 2,040 | 1,992 | 1,731 | 1,429 | 1,070 |
| EBIT margin | 35.7% | 35.0% | 33.5% | 32.6% | 34.2% | 32.6% | 29.2% | 22.5% |
| Pre-tax income | 2,656 | 2,488 | 1,996 | 1,801 | 1,690 | 1,525 | 1,228 | 545 |
| Income taxes | 545 | 454 | 360 | 301 | 266 | 663 | 409 | 206 |
| Tax rate | 20.5% | 18.2% | 18.0% | 16.7% | 15.7% | 43.5% | 33.3% | 37.8% |
| Net income | 2,114 | 2,037 | 1,638 | 1,500 | 1,428 | 864 | 821 | 339 |
| Net margin | 26.2% | 26.2% | 24.5% | 24.0% | 24.5% | 16.3% | 16.8% | 7.1% |
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| Diluted EPS | $4.49 | $4.27 | $3.42 | $3.11 | $2.93 | $1.75 | $1.65 | $0.68 |
| Shares outstanding (diluted) | 470 | 477 | 479 | 482 | 487 | 493 | 498 | 502 |
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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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