Financial Summary (All financials)
| In millions, except per share items | Dec-31-15 | Dec-31-14 | Dec-31-13 |
| Revenues | 6,148 | 5,952 | 5,555 |
| Revenue growth | 3.3% | 7.1% | |
| Cost of goods sold | 2,386 | 2,443 | 2,329 |
| Gross profit | 3,762 | 3,509 | 3,226 |
| Gross margin | 61.2% | 59.0% | 58.1% |
| Selling, general and administrative | 1,442 | 1,053 | 1,017 |
| Research and development | 1,176 | 820 | 595 |
| EBITA | 1,198 | 1,528 | 1,620 |
| EBITA margin | 19.5% | 25.7% | 29.2% |
| Amortization of intangibles | 53 | 16 | |
| EBIT | 1,145 | 1,512 | 1,620 |
| EBIT margin | 18.6% | 25.4% | 29.2% |
| Pre-tax income | 1,198 | 1,532 | 1,613 |
| Income taxes | 270 | 346 | 325 |
| Tax rate | 22.5% | 22.6% | 20.1% |
| Earnings from continuing ops | 928 | 1,186 | 1,288 |
| Earnings from discontinued ops | 28 | 551 | |
| Net income | 956 | 1,737 | 1,288 |
| Net margin | 15.5% | 29.2% | 23.2% |
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| Diluted EPS | $1.36 | $1.74 | $1.89 |
| Shares outstanding (diluted) | 683 | 681 | 681 |
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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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