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 | 16,128 | 12,761 | 10,219 | 9,556 | 9,664 | 8,347 | 6,973 | 6,897 |
| Revenue growth | 26.4% | 24.9% | 6.9% | -1.1% | 15.8% | 19.7% | 1.1% | -6.8% |
| Cost of goods sold | 8,493 | 7,435 | 6,430 | 5,860 | 5,803 | 5,075 | 4,514 | 4,565 |
| Gross profit | 7,635 | 5,326 | 3,789 | 3,696 | 3,861 | 3,272 | 2,459 | 2,332 |
| Gross margin | 47.3% | 41.7% | 37.1% | 38.7% | 40.0% | 39.2% | 35.3% | 33.8% |
| Selling, general and administrative | 1,454 | 1,323 | 1,109 | 1,093 | 1,095 | 981 | 907 | 897 |
| Research and development | 1,901 | 1,723 | 1,548 | 1,498 | 1,398 | 1,296 | 1,331 | 1,425 |
| EBITA | 4,577 | 2,514 | 1,411 | 1,276 | 1,477 | 1,110 | 459 | 293 |
| EBITA margin | 28.4% | 19.7% | 13.8% | 13.4% | 15.3% | 13.3% | 6.6% | 4.2% |
| Amortization of intangibles | 103 | 93 | 79 | 69 | 64 | 58 | 61 | 60 |
| EBIT | 4,474 | 2,421 | 1,332 | 1,207 | 1,413 | 1,052 | 398 | 233 |
| EBIT margin | 27.7% | 19.0% | 13.0% | 12.6% | 14.6% | 12.6% | 5.7% | 3.4% |
| Pre-tax income | 4,486 | 2,337 | 1,267 | 1,189 | 1,389 | 953 | 201 | 89 |
| Income taxes | 520 | 331 | 159 | 156 | 96 | 143 | 31 | -21 |
| Tax rate | 11.6% | 14.2% | 12.5% | 13.1% | 6.9% | 15.0% | 15.4% | |
| Net income | 3,960 | 2,000 | 1,106 | 1,032 | 1,287 | 802 | 165 | 104 |
| Net margin | 24.6% | 15.7% | 10.8% | 10.8% | 13.3% | 9.6% | 2.4% | 1.5% |
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| Diluted EPS | $4.19 | $2.16 | $1.20 | $1.14 | $1.41 | $0.89 | $0.19 | $0.12 |
| Shares outstanding (diluted) | 946 | 925 | 920 | 904 | 911 | 906 | 886 | 881 |
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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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