Financial Summary (All financials)
| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| Revenues | 13,456.0 | 12,026.0 | 12,144.0 | 11,928.0 | 12,033.0 | 12,075.0 | 12,554.0 | 12,919.0 |
| Revenue growth | 11.9% | -1.0% | 1.8% | -0.9% | -0.3% | -3.8% | -2.8% | 4.6% |
| Cost of goods sold | -220.0 | -220.0 | -430.0 | -540.0 | -1.0 | -104.0 | 743.0 | 285.0 |
| Gross profit | 13,676.0 | 12,246.0 | 12,574.0 | 12,468.0 | 12,034.0 | 12,179.0 | 11,811.0 | 12,634.0 |
| Gross margin | 101.6% | 101.8% | 103.5% | 104.5% | 100.0% | 100.9% | 94.1% | 97.8% |
| Selling, general and administrative | | | | | | | | |
| General and administrative | 2,810.0 | 2,575.0 | 2,406.0 | 2,266.0 | 2,155.0 | 2,031.0 | 1,937.0 | 1,877.0 |
| EBITA | 2,826.0 | 2,654.0 | 2,676.0 | 2,664.0 | 2,774.0 | 2,780.0 | 2,427.0 | 2,330.0 |
| EBITA margin | 21.0% | 22.1% | 22.0% | 22.3% | 23.1% | 23.0% | 19.3% | 18.0% |
| Amortization of intangibles | | | | | | | | 121.0 |
| EBIT | 2,826.0 | 2,654.0 | 2,676.0 | 2,664.0 | 2,774.0 | 2,780.0 | 2,427.0 | 2,209.0 |
| EBIT margin | 21.0% | 22.1% | 22.0% | 22.3% | 23.1% | 23.0% | 19.3% | 17.1% |
| Pre-tax income | 1,383.0 | 1,234.0 | 1,736.0 | 1,783.0 | 1,997.0 | 1,943.0 | 1,798.0 | 1,660.0 |
| Income taxes | 190.0 | 90.0 | 296.0 | 401.0 | 472.0 | 698.0 | 605.0 | 568.0 |
| Tax rate | 13.7% | 7.3% | 17.1% | 22.5% | 23.6% | 35.9% | 33.6% | 34.2% |
| Net income | 1,346.0 | 1,101.0 | 1,343.0 | 1,382.0 | 1,525.0 | 1,245.0 | 1,193.0 | 1,092.0 |
| Net margin | 10.0% | 9.2% | 11.1% | 11.6% | 12.7% | 10.3% | 9.5% | 8.5% |
| |
| Diluted EPS | $3.85 | $3.28 | $4.08 | $4.42 | $4.94 | $4.12 | $4.05 | $3.71 |
| Shares outstanding (diluted) | 349.4 | 335.7 | 329.5 | 312.9 | 308.8 | 301.9 | 294.4 | 294.0 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|