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 | 8,230.0 | 7,447.0 | 8,548.0 | 8,678.2 | 8,136.8 | 7,921.6 | 9,169.6 | 9,240.5 |
Revenue growth | 10.5% | -12.9% | -1.5% | 6.7% | 2.7% | -13.6% | -0.8% | 5.0% |
Cost of goods sold | 6,719.0 | 6,201.0 | 6,963.0 | 6,966.9 | 6,457.1 | 6,293.6 | 7,325.5 | 7,436.7 |
Gross profit | 1,511.0 | 1,246.0 | 1,585.0 | 1,711.3 | 1,679.7 | 1,628.0 | 1,844.1 | 1,803.8 |
Gross margin | 18.4% | 16.7% | 18.5% | 19.7% | 20.6% | 20.6% | 20.1% | 19.5% |
Selling, general and administrative | 0.0 | 0.0 | 0.0 | 390.3 | 406.6 | 394.4 | 411.5 | 414.9 |
Research and development | | | | | | | | |
EBITA | 622.0 | 328.0 | 643.0 | 700.9 | 872.5 | 844.1 | 752.1 | 745.5 |
EBITA margin | 7.6% | 4.4% | 7.5% | 8.1% | 10.7% | 10.7% | 8.2% | 8.1% |
Amortization of intangibles | | | | 11.3 | 11.2 | 10.5 | 19.6 | 16.0 |
EBIT | 622.0 | 328.0 | 643.0 | 689.6 | 861.3 | 833.6 | 732.5 | 729.5 |
EBIT margin | 7.6% | 4.4% | 7.5% | 7.9% | 10.6% | 10.5% | 8.0% | 7.9% |
Pre-tax income | 614.0 | 291.0 | 648.0 | 612.4 | 792.4 | 784.2 | 675.7 | 667.0 |
Income taxes | 177.0 | 103.0 | 186.0 | 234.9 | 204.4 | 224.3 | 218.2 | 198.0 |
Tax rate | 28.8% | 35.4% | 28.7% | 38.4% | 25.8% | 28.6% | 32.3% | 29.7% |
Earnings from continuing ops | 435.0 | 187.0 | 462.0 | 755.0 | 1,176.0 | 559.9 | 456.8 | 467.8 |
Earnings from discontinued ops | | | | -193.8 | -285.0 | 1.7 | | |
Net income | 435.0 | 187.0 | 462.0 | 561.2 | 891.0 | 561.6 | 456.8 | 467.8 |
Net margin | 5.3% | 2.5% | 5.4% | 6.5% | 11.0% | 7.1% | 5.0% | 5.1% |
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Diluted EPS | $4.96 | $2.14 | $5.29 | $8.65 | $13.41 | $6.33 | $5.17 | $5.06 |
Shares outstanding (diluted) | 87.7 | 87.5 | 87.4 | 87.3 | 87.7 | 88.4 | 88.4 | 92.4 |
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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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