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 | 33,428.0 | 17,531.0 | 9,293.0 | 9,157.0 | 7,896.0 | 5,645.0 | 1,283.0 | 271.0 |
Revenue growth | 90.7% | 88.6% | 1.5% | 16.0% | 39.9% | 340.0% | 373.4% | 1.1% |
Cost of goods sold | 27,329.0 | 1,444.0 | 1,320.0 | 1,154.0 | 613.0 | 446.0 | 798.0 | 80.0 |
Gross profit | 6,099.0 | 16,087.0 | 7,973.0 | 8,003.0 | 7,283.0 | 5,199.0 | 485.0 | 191.0 |
Gross margin | 18.2% | 91.8% | 85.8% | 87.4% | 92.2% | 92.1% | 37.8% | 70.5% |
Selling, general and administrative | 416.0 | 325.0 | 302.0 | 310.0 | 289.0 | 256.0 | 260.0 | 363.0 |
Research and development | | 7.0 | 6.0 | 9.0 | 7.0 | 10.0 | 7.0 | 42.0 |
EBIT | 4,559.0 | -696.0 | 2,637.0 | 2,384.0 | 2,032.0 | 1,413.0 | 44.0 | -388.0 |
EBIT margin | 13.6% | -4.0% | 28.4% | 26.0% | 25.7% | 25.0% | 3.4% | -143.2% |
Pre-tax income | 1,428.0 | -2,278.0 | 544.0 | 715.0 | 1,227.0 | 566.0 | -663.0 | -1,097.0 |
Income taxes | 0.0 | -713.0 | 43.0 | -517.0 | 27.0 | 3.0 | 2.0 | 0.0 |
Tax rate | 0.0% | 31.3% | 7.9% | | 2.2% | 0.5% | | 0.0% |
Net income | 1,428.0 | -2,343.0 | -85.0 | 648.0 | 471.0 | -393.0 | -610.0 | -975.0 |
Net margin | 4.3% | -13.4% | -0.9% | 7.1% | 6.0% | -7.0% | -47.5% | -359.8% |
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Diluted EPS | $5.64 | ($9.25) | ($0.34) | $2.51 | $1.90 | ($1.69) | ($2.67) | ($4.30) |
Shares outstanding (diluted) | 253.4 | 253.4 | 252.4 | 258.1 | 248.0 | 233.1 | 228.8 | 226.9 |
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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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