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 | 1,795 | 1,917 | 1,836 | 1,899 | 2,164 | 2,156 | 2,322 | 2,530 |
| Revenue growth | -6.4% | 4.4% | -3.3% | -12.2% | 0.4% | -7.1% | -8.2% | -7.4% |
| Cost of goods sold | 714 | 731 | 817 | 944 | 1,138 | 1,132 | 1,133 | 1,254 |
| Gross profit | 1,081 | 1,186 | 1,019 | 955 | 1,026 | 1,024 | 1,189 | 1,276 |
| Gross margin | 60.2% | 61.9% | 55.5% | 50.3% | 47.4% | 47.5% | 51.2% | 50.4% |
| Selling, general and administrative | 650 | 646 | 669 | 618 | 666 | 651 | 662 | 765 |
| Research and development | 313 | 309 | 334 | 327 | 317 | 305 | 212 | 228 |
| EBITA | 118 | 231 | 16 | 10 | 43 | 68 | 325 | 323 |
| EBITA margin | 6.6% | 12.1% | 0.9% | 0.5% | 2.0% | 3.2% | 14.0% | 12.8% |
| Amortization of intangibles | | | | | | | 10 | 40 |
| EBIT | 118 | 231 | 16 | 10 | 43 | 68 | 315 | 283 |
| EBIT margin | 6.6% | 12.1% | 0.9% | 0.5% | 2.0% | 3.2% | 13.6% | 11.2% |
| Pre-tax income | 67 | 192 | -24 | -13 | 27 | 58 | 221 | -144 |
| Income taxes | 34 | 45 | -153 | 7 | -3 | 125 | 96 | 70 |
| Tax rate | 50.7% | 23.4% | 637.5% | | | 215.5% | 43.4% | |
| Net income | 67 | 192 | -24 | -13 | 27 | 58 | 221 | -214 |
| Net margin | 3.7% | 10.0% | -1.3% | -0.7% | 1.2% | 2.7% | 9.5% | -8.5% |
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| Diluted EPS | $0.63 | $1.70 | ($0.22) | ($0.11) | $0.22 | $0.46 | $1.68 | ($1.53) |
| Shares outstanding (diluted) | 106 | 113 | 112 | 114 | 121 | 126 | 132 | 140 |
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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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