Overview Financials News + Filings Key Docs Charts Holdings Ownership Insiders
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| 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 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Transcatheter Aortic Valve Replacement | 3,422.5 | 2,857.3 | 2,737.9 | 2,283.8 | 2,023.8 | | | |
| United States | 2,963.1 | 2,516.8 | 2,532.7 | 2,055.3 | 1,907.6 | | 1,262.9 | 1,047.3 |
| Europe | 1,190.3 | 973.6 | 941.2 | 885.1 | 831.0 | | 842.9 | 744.5 |
| Surgical Structural Heart | 889.1 | 761.8 | 841.7 | 761.6 | 807.1 | | | |
| Other | | | | | | | 387.9 | 531.1 |
| Total 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% |
| Transcatheter Aortic Valve Replacement | 19.8% | 4.4% | 19.9% | 12.8% | | | | |
| United States | 17.7% | -0.6% | 23.2% | 7.7% | | | 20.6% | 11.5% |
| Europe | 22.3% | 3.4% | 6.3% | 6.5% | | | 13.2% | 19.7% |
| Surgical Structural Heart | 16.7% | -9.5% | 10.5% | -5.6% | | | | |
| Japan | 15.0% | 3.5% | 11.6% | 11.8% | | | 9.7% | -7.8% |
| 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 |
| Equity in earnings | | | | | | | | |
| Other operating expenses | -227.6 | 432.6 | 91.9 | 324.5 | -123.0 | 68.2 | 11.2 | -602.5 |
| EBITDA [+] | 1,949.2 | 991.2 | 1,236.1 | 825.6 | 1,221.5 | 822.4 | 697.5 | 1,163.9 |
| EBITDA growth | 96.7% | -19.8% | 49.7% | -32.4% | 48.5% | 17.9% | -40.1% | 106.7% |
| EBITDA margin | 37.3% | 22.6% | 28.4% | 22.2% | 35.6% | 27.7% | 28.0% | 50.1% |
| Depreciation | 127.1 | 101.8 | 84.7 | 74.9 | 74.1 | 63.6 | 58.7 | 60.2 |
| 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 growth | 105.2% | -22.9% | 53.3% | -34.3% | 51.7% | 18.9% | -42.3% | 119.0% |
| EBIT margin | 34.7% | 20.2% | 26.4% | 20.1% | 33.2% | 25.3% | 25.3% | 47.2% |
| Non-recurring items [+] | 124.1 | -13.6 | | | 50.2 | | | 11.2 |
| Unusual expense | 124.1 | -13.6 | | | 50.2 | | | 7.5 |
| Interest expense, net [+] | 1.0 | -7.6 | -11.5 | -2.1 | 2.9 | 8.4 | 9.3 | 10.8 |
| Interest expense | 18.4 | 15.8 | 20.7 | 29.9 | 23.2 | 19.2 | 17.2 | 17.2 |
| Interest income | 17.4 | 23.4 | 32.2 | 32.0 | 20.3 | 10.8 | 7.9 | 6.4 |
| Other income (expense), net [+] | 12.7 | 11.5 | 8.2 | 11.1 | -51.6 | -4.9 | | 70.7 |
| Litigation settlement | 20.6 | 405.4 | 33.4 | 214.0 | -73.3 | 32.6 | 7.0 | -740.4 |
| Change in value of contingent liability | -124.1 | 13.6 | -6.1 | -5.7 | -9.9 | 1.1 | 0.2 | |
| Other | | | 8.2 | 4.0 | -1.4 | 34.5 | | 70.7 |
| 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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| Basic EPS [+] | $2.41 | $1.32 | $1.68 | $1.15 | $2.77 | $2.67 | $2.30 | $3.81 |
| Growth | 82.3% | -21.1% | 45.6% | -58.4% | 3.5% | 16.4% | -39.7% | 118.6% |
| Diluted EPS [+] | $2.38 | $1.30 | $1.64 | $1.13 | $2.70 | $2.61 | $2.25 | $3.74 |
| Growth | 82.8% | -20.8% | 45.9% | -58.3% | 3.4% | 16.4% | -39.9% | 118.6% |
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| Shares outstanding (basic) [+] | 623.3 | 622.6 | 624.8 | 627.6 | 210.9 | 213.0 | 215.5 | 213.0 |
| Growth | 0.1% | -0.4% | -0.4% | 197.6% | -1.0% | -1.2% | 1.2% | -4.7% |
| Shares outstanding (diluted) [+] | 631.2 | 631.9 | 636.7 | 640.9 | 215.9 | 217.8 | 220.3 | 217.0 |
| Growth | -0.1% | -0.8% | -0.7% | 196.9% | -0.9% | -1.1% | 1.5% | -4.7% |
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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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