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 | 5,710.1 | 4,358.4 | 4,478.5 | 3,724.2 | 3,138.2 | 2,706.5 | 2,384.4 | 2,131.7 |
| Revenue growth | 31.0% | -2.7% | 20.3% | 18.7% | 16.0% | 13.5% | 11.9% | -5.9% |
| Cost of goods sold | 1,751.6 | 1,497.2 | 1,368.3 | 1,120.1 | 936.2 | 813.6 | 806.5 | 717.9 |
| Gross profit | 3,958.5 | 2,861.2 | 3,110.2 | 2,604.1 | 2,202.0 | 1,892.9 | 1,577.9 | 1,413.8 |
| Gross margin | 69.3% | 65.6% | 69.4% | 69.9% | 70.2% | 69.9% | 66.2% | 66.3% |
| Selling, general and administrative | 1,466.5 | 1,216.3 | 1,178.4 | 986.6 | 810.5 | 703.6 | 640.5 | 691.0 |
| Research and development | 671.0 | 595.1 | 557.3 | 418.1 | 328.6 | 239.6 | 197.4 | 178.0 |
| EBITA | 2,150.8 | 1,286.1 | 1,628.1 | 1,339.3 | 1,141.6 | 967.9 | 764.4 | 567.2 |
| EBITA margin | 37.7% | 29.5% | 36.4% | 36.0% | 36.4% | 35.8% | 32.1% | 26.6% |
| Amortization of intangibles | 27.4 | 49.8 | 43.0 | 14.2 | 12.9 | 18.2 | 24.4 | 22.4 |
| EBIT | 2,123.4 | 1,236.3 | 1,585.1 | 1,325.1 | 1,128.7 | 949.7 | 740.0 | 544.8 |
| EBIT margin | 37.2% | 28.4% | 35.4% | 35.6% | 36.0% | 35.1% | 31.0% | 25.6% |
| Pre-tax income | 1,890.3 | 1,207.0 | 1,502.2 | 1,279.5 | 1,104.8 | 985.3 | 758.5 | 549.0 |
| Income taxes | 162.2 | 140.2 | 120.4 | 154.5 | 433.9 | 247.0 | 169.7 | 130.2 |
| Tax rate | 8.6% | 11.6% | 8.0% | 12.1% | 39.3% | 25.1% | 22.4% | 23.7% |
| Net income | 1,704.6 | 1,060.6 | 1,379.3 | 1,127.9 | 671.3 | 738.3 | 588.8 | 418.8 |
| Net margin | 29.9% | 24.3% | 30.8% | 30.3% | 21.4% | 27.3% | 24.7% | 19.6% |
| |
| Diluted EPS | $4.66 | $2.94 | $3.85 | $9.49 | $5.77 | $6.26 | $5.18 | $11.11 |
| Shares outstanding (diluted) | 365.8 | 361.0 | 358.4 | 118.8 | 116.3 | 117.9 | 113.7 | 37.7 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|