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 | 176,383.0 | 113,977.0 | 64,912.0 | 108,324.0 | 117,033.0 | 93,980.0 | 75,659.0 | 87,804.0 |
Revenue growth | 54.8% | 75.6% | -40.1% | -7.4% | 24.5% | 24.2% | -13.8% | -32.9% |
Cost of goods sold | 321,602.0 | 224,054.0 | 133,607.0 | 209,315.0 | 224,940.0 | 180,945.0 | 71,312.0 | 80,689.0 |
Gross profit | -145,219.0 | -110,077.0 | -68,695.0 | -100,991.0 | -107,907.0 | -86,965.0 | 4,347.0 | 7,115.0 |
Gross margin | -82.3% | -96.6% | -105.8% | -93.2% | -92.2% | -92.5% | 5.7% | 8.1% |
General and administrative | 934.0 | 865.0 | 756.0 | 868.0 | 925.0 | 829.0 | 709.0 | 710.0 |
EBIT | 15,751.0 | 2,130.0 | -1,579.0 | 3,836.0 | 4,572.0 | 3,563.0 | 3,590.0 | 6,358.0 |
EBIT margin | 8.9% | 1.9% | -2.4% | 3.5% | 3.9% | 3.8% | 4.7% | 7.2% |
Pre-tax income | 15,307.0 | 1,543.0 | -2,010.0 | 3,486.0 | 4,232.0 | 3,207.0 | 3,182.0 | 5,971.0 |
Income taxes | 3,428.0 | 255.0 | -903.0 | 702.0 | 879.0 | -949.0 | 765.0 | 1,870.0 |
Tax rate | 22.4% | 16.5% | 44.9% | 20.1% | 20.8% | | 24.0% | 31.3% |
Net income | 11,528.0 | 930.0 | -1,421.0 | 2,422.0 | 3,122.0 | 4,065.0 | 2,289.0 | 3,990.0 |
Net margin | 6.5% | 0.8% | -2.2% | 2.2% | 2.7% | 4.3% | 3.0% | 4.5% |
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Diluted EPS | $29.11 | $2.29 | ($3.49) | $5.85 | $7.29 | $9.16 | $4.93 | $7.98 |
Shares outstanding (diluted) | 396.0 | 407.0 | 407.0 | 414.0 | 428.0 | 444.0 | 464.0 | 500.0 |
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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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