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 | 2,096.0 | 1,846.3 | 1,860.5 | 1,704.0 | 1,491.2 | 1,313.6 | 1,116.9 | 889.9 |
| Revenue growth | 13.5% | -0.8% | 9.2% | 14.3% | 13.5% | 17.6% | 25.5% | 18.8% |
| Cost of goods sold | 483.7 | 470.5 | 524.3 | 359.5 | 315.3 | 241.8 | 209.6 | 152.0 |
| Gross profit | 1,612.4 | 1,375.8 | 1,336.2 | 1,344.6 | 1,175.9 | 1,071.9 | 907.2 | 737.9 |
| Gross margin | 76.9% | 74.5% | 71.8% | 78.9% | 78.9% | 81.6% | 81.2% | 82.9% |
| Selling, general and administrative | 854.0 | 759.4 | 737.7 | 680.9 | 604.4 | 554.3 | 476.6 | 402.3 |
| Research and development | 649.6 | 628.8 | 628.1 | 715.0 | 696.3 | 610.8 | 661.9 | 634.8 |
| EBIT | 41.6 | -82.3 | -96.3 | -125.5 | -174.1 | -141.0 | -204.8 | -282.3 |
| EBIT margin | 2.0% | -4.5% | -5.2% | -7.4% | -11.7% | -10.7% | -18.3% | -31.7% |
| Pre-tax income | 149.6 | -75.4 | -49.0 | -94.8 | -142.7 | -35.9 | -831.1 | -154.7 |
| Income taxes | 8.0 | -11.3 | -903.0 | -71.0 | -65.5 | 81.2 | -200.8 | 17.1 |
| Tax rate | 5.4% | 15.0% | 1843.0% | 74.8% | 45.9% | | 24.2% | |
| Net income | 141.6 | -64.1 | 854.0 | -23.8 | -77.2 | -117.0 | -630.2 | -171.8 |
| Net margin | 6.8% | -3.5% | 45.9% | -1.4% | -5.2% | -8.9% | -56.4% | -19.3% |
| |
| Diluted EPS | $0.75 | ($0.35) | $4.46 | ($0.13) | ($0.44) | ($0.67) | ($3.79) | ($1.07) |
| Shares outstanding (diluted) | 189.0 | 182.9 | 191.7 | 179.0 | 177.3 | 174.4 | 166.2 | 160.0 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|