Financial Summary (All financials)
| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 |
| Revenues | 14,298.0 | 12,756.0 | 13,118.0 | 12,915.0 |
| Revenue growth | 12.1% | -2.8% | 1.6% | |
| Cost of goods sold | 10,105.0 | 9,041.0 | 9,331.0 | 9,164.0 |
| Gross profit | 4,193.0 | 3,715.0 | 3,787.0 | 3,751.0 |
| Gross margin | 29.3% | 29.1% | 28.9% | 29.0% |
| Selling, general and administrative | 1,948.0 | 1,924.0 | 1,810.0 | 1,735.0 |
| Research and development | 159.0 | 152.0 | 163.0 | 181.0 |
| EBITA | 2,108.0 | 1,730.0 | 1,909.0 | 1,939.0 |
| EBITA margin | 14.7% | 13.6% | 14.6% | 15.0% |
| Amortization of intangibles | | 91.0 | 95.0 | 104.0 |
| EBIT | 2,108.0 | 1,639.0 | 1,814.0 | 1,835.0 |
| EBIT margin | 14.7% | 12.8% | 13.8% | 14.2% |
| Pre-tax income | 1,961.0 | 1,511.0 | 1,861.0 | 1,893.0 |
| Income taxes | 541.0 | 455.0 | 594.0 | 683.0 |
| Tax rate | 27.6% | 30.1% | 31.9% | 36.1% |
| Net income | 1,246.0 | 906.0 | 1,116.0 | 1,049.0 |
| Net margin | 8.7% | 7.1% | 8.5% | 8.1% |
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| Diluted EPS | $2.89 | $2.08 | $2.58 | $2.42 |
| Shares outstanding (diluted) | 431.4 | 434.6 | 433.1 | 433.1 |
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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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