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 | 28,819.7 | 23,522.3 | 18,728.5 | 25,599.7 | 23,495.7 | 19,456.4 | 17,033.3 | 19,115.1 |
Revenue growth | 22.5% | 25.6% | -26.8% | 9.0% | 20.8% | 14.2% | -10.9% | 0.6% |
Cost of goods sold | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Gross profit | 28,819.7 | 23,522.3 | 18,728.5 | 25,599.7 | 23,495.7 | 19,456.4 | 17,033.3 | 19,115.1 |
Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
Selling, general and administrative | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Research and development | | | | | | | | |
EBIT | 3,961.4 | 2,489.6 | 1,792.1 | 3,222.0 | 2,917.0 | 2,267.3 | 1,213.2 | 2,418.6 |
EBIT margin | 13.7% | 10.6% | 9.6% | 12.6% | 12.4% | 11.7% | 7.1% | 12.7% |
Pre-tax income | 3,848.7 | 2,396.3 | 1,661.6 | 3,099.2 | 2,810.2 | 2,173.3 | 1,130.4 | 2,337.1 |
Income taxes | 837.1 | 530.8 | 360.4 | 711.3 | 615.1 | 498.1 | 608.7 | 733.1 |
Tax rate | 21.8% | 22.2% | 21.7% | 23.0% | 21.9% | 22.9% | 53.8% | 31.4% |
Net income | 3,011.6 | 1,865.5 | 1,301.2 | 2,387.9 | 2,195.1 | 1,675.2 | 521.7 | 1,604.0 |
Net margin | 10.4% | 7.9% | 6.9% | 9.3% | 9.3% | 8.6% | 3.1% | 8.4% |
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Diluted EPS | $5.75 | $3.57 | $2.50 | $6.87 | $6.24 | $4.75 | $1.48 | $4.51 |
Shares outstanding (diluted) | 523.4 | 522.7 | 521.2 | 347.5 | 351.8 | 352.9 | 351.8 | 355.6 |
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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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