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 | 5,232.5 | 4,386.3 | 4,348.0 | 3,722.8 | 3,435.3 | 2,963.7 | 2,493.7 | 2,322.9 |
Revenue growth | 19.3% | 0.9% | 16.8% | 8.4% | 15.9% | 18.8% | 7.4% | 13.6% |
Cost of goods sold | 1,248.9 | 1,080.6 | 1,114.4 | 939.4 | 875.3 | 797.4 | 617.2 | 625.6 |
Gross profit | 3,983.6 | 3,305.7 | 3,233.6 | 2,783.4 | 2,560.0 | 2,166.3 | 1,876.5 | 1,697.3 |
Gross margin | 76.1% | 75.4% | 74.4% | 74.8% | 74.5% | 73.1% | 75.2% | 73.1% |
Selling, general and administrative | 1,493.7 | 1,228.4 | 1,242.2 | 1,088.5 | 990.8 | 904.7 | 850.7 | 858.0 |
Research and development | 903.1 | 760.7 | 752.7 | 622.2 | 552.6 | 442.2 | 382.9 | 346.5 |
EBITA | 1,822.1 | 889.4 | 1,151.4 | 750.7 | 1,147.4 | 758.8 | 638.8 | 1,103.7 |
EBITA margin | 34.8% | 20.3% | 26.5% | 20.2% | 33.4% | 25.6% | 25.6% | 47.5% |
Amortization of intangibles | 7.7 | 5.4 | 4.6 | 2.5 | 7.8 | 7.6 | 7.1 | 8.4 |
EBIT | 1,814.4 | 884.0 | 1,146.8 | 748.2 | 1,139.6 | 751.2 | 631.7 | 1,095.3 |
EBIT margin | 34.7% | 20.2% | 26.4% | 20.1% | 33.2% | 25.3% | 25.3% | 47.2% |
Pre-tax income | 1,702.0 | 916.7 | 1,166.5 | 761.4 | 1,034.9 | 737.9 | 622.4 | 1,144.0 |
Income taxes | 198.9 | 93.3 | 119.6 | 39.2 | 451.3 | 168.4 | 127.5 | 332.9 |
Tax rate | 11.7% | 10.2% | 10.3% | 5.1% | 43.6% | 22.8% | 20.5% | 29.1% |
Net income | 1,503.1 | 823.4 | 1,046.9 | 722.2 | 583.6 | 569.5 | 494.9 | 811.1 |
Net margin | 28.7% | 18.8% | 24.1% | 19.4% | 17.0% | 19.2% | 19.8% | 34.9% |
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Diluted EPS | $2.38 | $1.30 | $1.64 | $1.13 | $2.70 | $2.61 | $2.25 | $3.74 |
Shares outstanding (diluted) | 631.2 | 631.9 | 636.7 | 640.9 | 215.9 | 217.8 | 220.3 | 217.0 |
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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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