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 | 18,800 | 17,000 | 17,500 | 15,400 | 17,173 | 16,138 | 17,486 | 17,021 |
| Revenue growth | 10.6% | -2.9% | 13.6% | -10.3% | 6.4% | -7.7% | 2.7% | 12.5% |
| Cost of goods sold | 8,480 | 7,290 | 8,003 | 7,062 | 7,529 | 7,521 | 8,596 | 8,751 |
| Gross profit | 10,320 | 9,710 | 9,497 | 8,338 | 9,644 | 8,617 | 8,890 | 8,270 |
| Gross margin | 54.9% | 57.1% | 54.3% | 54.1% | 56.2% | 53.4% | 50.8% | 48.6% |
| Selling, general and administrative | | | | | | | | |
| General and administrative | 1,801 | 1,709 | 1,804 | 1,551 | 1,455 | 1,343 | 1,395 | 1,362 |
| EBITA | 3,604 | 3,792 | 5,437 | 8,584 | 4,753 | 4,337 | 4,788 | 4,465 |
| EBITA margin | 19.2% | 22.3% | 31.1% | 55.7% | 27.7% | 26.9% | 27.4% | 26.2% |
| Amortization of intangibles | 25 | 27 | 18 | 19 | 35 | 35 | 17 | 15 |
| EBIT | 3,579 | 3,765 | 5,419 | 8,565 | 4,718 | 4,302 | 4,771 | 4,450 |
| EBIT margin | 19.0% | 22.1% | 31.0% | 55.6% | 27.5% | 26.7% | 27.3% | 26.1% |
| Pre-tax income | 3,175 | 2,413 | 3,836 | 7,352 | 4,663 | 4,378 | 3,990 | 3,645 |
| Income taxes | 348 | 44 | 448 | 1,576 | -660 | 1,379 | 1,228 | 1,176 |
| Tax rate | 11.0% | 1.8% | 11.7% | 21.4% | | 31.5% | 30.8% | 32.3% |
| Net income | 3,573 | 2,919 | 3,769 | 6,638 | 5,380 | 2,906 | 2,752 | 2,465 |
| Net margin | 19.0% | 17.2% | 21.5% | 43.1% | 31.3% | 18.0% | 15.7% | 14.5% |
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| Diluted EPS | $1.81 | $1.48 | $1.94 | $3.48 | $11.39 | $6.24 | $6.06 | $5.60 |
| Shares outstanding (diluted) | 1,972 | 1,969 | 1,942 | 1,908 | 473 | 466 | 454 | 440 |
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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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