Financial Summary (All financials)
In millions, except per share items | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
Revenues | 4,361 | 4,858 | 4,849 | 4,486 | 4,407 |
Revenue growth | -10.2% | 0.2% | 8.1% | 1.8% | |
Cost of goods sold | 3,728 | 3,961 | 3,881 | 3,689 | 3,557 |
Gross profit | 633 | 897 | 968 | 797 | 850 |
Gross margin | 14.5% | 18.5% | 20.0% | 17.8% | 19.3% |
Selling, general and administrative | 398 | 414 | 408 | 299 | 312 |
EBITA | 236 | 490 | 565 | 498 | 538 |
EBITA margin | 5.4% | 10.1% | 11.7% | 11.1% | 12.2% |
Amortization of intangibles | 11 | 14 | 16 | 17 | 23 |
EBIT | 225 | 476 | 549 | 481 | 515 |
EBIT margin | 5.2% | 9.8% | 11.3% | 10.7% | 11.7% |
Pre-tax income | 86 | 364 | 420 | 318 | 398 |
Income taxes | 57 | -9 | 106 | 50 | 92 |
Tax rate | 66.3% | | 25.2% | 15.7% | 23.1% |
Net income | 17 | 358 | 285 | 236 | 272 |
Net margin | 0.4% | 7.4% | 5.9% | 5.3% | 6.2% |
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Diluted EPS | $0.19 | $4.03 | $3.21 | $2.66 | $3.07 |
Shares outstanding (diluted) | 87 | 89 | 89 | 89 | 89 |
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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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