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 | 413,680.0 | 285,640.0 | 181,502.0 | 264,938.0 | 290,212.0 | 244,363.0 | 208,114.0 | 249,248.0 |
Revenue growth | 44.8% | 57.4% | -31.5% | -8.7% | 18.8% | 17.4% | -16.5% | -39.5% |
Cost of goods sold | 27,919.0 | 30,239.0 | 26,122.0 | 30,525.0 | 32,663.0 | 30,104.0 | 29,020.0 | 30,309.0 |
Gross profit | 385,761.0 | 255,401.0 | 155,380.0 | 234,413.0 | 257,549.0 | 214,259.0 | 179,094.0 | 218,939.0 |
Gross margin | 93.3% | 89.4% | 85.6% | 88.5% | 88.7% | 87.7% | 86.1% | 87.8% |
Selling, general and administrative | 10,095.0 | 9,574.0 | 10,168.0 | 11,398.0 | 11,480.0 | 10,649.0 | 10,443.0 | 11,501.0 |
EBIT | 78,551.0 | 32,181.0 | -27,725.0 | 16,972.0 | 28,194.0 | 17,454.0 | 11,102.0 | 24,027.0 |
EBIT margin | 19.0% | 11.3% | -15.3% | 6.4% | 9.7% | 7.1% | 5.3% | 9.6% |
Pre-tax income | 77,753.0 | 31,234.0 | -28,883.0 | 20,056.0 | 30,953.0 | 18,674.0 | 7,969.0 | 21,966.0 |
Income taxes | 20,176.0 | 7,636.0 | -5,632.0 | 5,282.0 | 9,532.0 | -1,174.0 | -406.0 | 5,415.0 |
Tax rate | 25.9% | 24.4% | 19.5% | 26.3% | 30.8% | | | 24.7% |
Net income | 55,740.0 | 23,040.0 | -22,440.0 | 14,340.0 | 20,840.0 | 19,710.0 | 7,840.0 | 16,150.0 |
Net margin | 13.5% | 8.1% | -12.4% | 5.4% | 7.2% | 8.1% | 3.8% | 6.5% |
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Diluted EPS | $13.26 | $5.39 | ($5.25) | $3.36 | $4.88 | $4.63 | $1.88 | $3.85 |
Shares outstanding (diluted) | 4,205.0 | 4,275.0 | 4,271.0 | 4,270.0 | 4,270.0 | 4,256.0 | 4,177.0 | 4,196.0 |
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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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