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 | 72,251 | 82,647 | 60,135 | 84,145 | 84,664 | 85,861 | 84,497 | 83,615 |
Revenue growth | -12.6% | 37.4% | -28.5% | -0.6% | -1.4% | 1.6% | 1.1% | 0.8% |
Cost of goods sold | 3,631 | 3,835 | 4,263 | 4,145 | 4,188 | 4,200 | 2,855 | 2,886 |
Gross profit | 68,620 | 78,812 | 55,872 | 80,000 | 80,476 | 81,661 | 81,642 | 80,729 |
Gross margin | 95.0% | 95.4% | 92.9% | 95.1% | 95.1% | 95.1% | 96.6% | 96.5% |
Selling, general and administrative | 3,880 | 3,827 | 3,699 | 4,352 | 3,760 | | | |
Sales and marketing | 505 | 600 | 600 | 1,076 | 857 | 10,442 | 10,247 | 10,352 |
General and administrative | | | | | | 23,820 | 17,440 | 985 |
EBITA | 11,666 | 29,000 | 3,050 | 20,839 | 70,128 | 39,735 | 45,210 | 48,952 |
EBITA margin | 16.1% | 35.1% | 5.1% | 24.8% | 82.8% | 46.3% | 53.5% | 58.5% |
Amortization of intangibles | | | | | | 1,152 | 1,192 | 1,246 |
EBIT | 11,666 | 29,000 | 3,050 | 20,839 | 70,128 | 38,583 | 44,018 | 47,706 |
EBIT margin | 16.1% | 35.1% | 5.1% | 24.8% | 82.8% | 44.9% | 52.1% | 57.1% |
Pre-tax income | 14,969 | 28,816 | 2,505 | 25,967 | 28,538 | 27,377 | 32,120 | 33,641 |
Income taxes | 2,087 | 5,578 | -1,157 | 5,761 | 5,662 | 4,917 | 10,075 | 10,365 |
Tax rate | 13.9% | 19.4% | | 22.2% | 19.8% | 18.0% | 31.4% | 30.8% |
Net income | 12,067 | 20,256 | 1,786 | 18,103 | 20,689 | 20,554 | 20,373 | 21,470 |
Net margin | 16.7% | 24.5% | 3.0% | 21.5% | 24.4% | 23.9% | 24.1% | 25.7% |
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Diluted EPS | $3.14 | $4.95 | $0.43 | $4.09 | $4.28 | $4.10 | $3.99 | $4.12 |
Shares outstanding (diluted) | 3,837 | 4,096 | 4,134 | 4,425 | 4,838 | 5,017 | 5,108 | 5,210 |
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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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