Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 54,968.0 | 38,542.0 | 42,951.0 | 49,604.0 | 43,730.0 | 48,158.0 | 48,778.0 | 58,167.0 |
Revenue growth | 42.6% | -10.3% | -13.4% | 13.4% | -9.2% | -1.3% | -16.1% | 1.9% |
Cost of goods sold | 44,191.0 | 33,346.0 | 36,657.0 | 41,074.0 | 36,350.0 | 37,668.0 | 37,745.0 | 47,464.0 |
Gross profit | 10,777.0 | 5,196.0 | 6,294.0 | 8,530.0 | 7,380.0 | 10,490.0 | 11,033.0 | 10,703.0 |
Gross margin | 19.6% | 13.5% | 14.7% | 17.2% | 16.9% | 21.8% | 22.6% | 18.4% |
Selling, general and administrative | 1,645.0 | 1,471.0 | 1,590.0 | 1,782.0 | 1,795.0 | 2,953.0 | 2,948.0 | 3,106.0 |
Research and development | 857.0 | 768.0 | 765.0 | 800.0 | 803.0 | 1,593.0 | 1,598.0 | 1,647.0 |
EBITA | 8,621.0 | 4,310.0 | -932.0 | 4,188.0 | 949.0 | 8,027.0 | 12,072.0 | 4,514.0 |
EBITA margin | 15.7% | 11.2% | -2.2% | 8.4% | 2.2% | 16.7% | 24.7% | 7.8% |
Amortization of intangibles | 388.0 | 401.0 | 419.0 | 469.0 | 400.0 | 544.0 | 419.0 | 436.0 |
EBIT | 8,233.0 | 3,909.0 | -1,351.0 | 3,719.0 | 549.0 | 7,483.0 | 11,653.0 | 4,078.0 |
EBIT margin | 15.0% | 10.1% | -3.1% | 7.5% | 1.3% | 15.5% | 23.9% | 7.0% |
Pre-tax income | 8,145.0 | 2,071.0 | -1,247.0 | 3,749.0 | 237.0 | 4,413.0 | 9,930.0 | 5,265.0 |
Income taxes | 1,740.0 | 777.0 | 470.0 | 809.0 | 1,524.0 | 9.0 | 2,147.0 | 1,426.0 |
Tax rate | 21.4% | 37.5% | | 21.6% | 643.0% | 0.2% | 21.6% | 27.1% |
Net income | 6,311.0 | 1,225.0 | -1,359.0 | 4,641.0 | 465.0 | 3,978.0 | 7,345.0 | 3,432.0 |
Net margin | 11.5% | 3.2% | -3.2% | 9.4% | 1.1% | 8.3% | 15.1% | 5.9% |
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Diluted EPS | $8.43 | $1.65 | ($1.83) | $6.21 | $0.62 | $3.52 | $5.92 | $2.89 |
Shares outstanding (diluted) | 749.0 | 742.3 | 742.5 | 747.2 | 744.8 | 1,130.1 | 1,241.4 | 1,187.0 |
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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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