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 | 8,680.0 | 8,375.0 | 7,188.0 | 6,707.0 | 6,654.0 | 6,014.0 | 7,361.0 | 7,142.0 |
Revenue growth | 3.6% | 16.5% | 7.2% | 0.8% | 10.6% | -18.3% | 3.1% | 1.9% |
Cost of goods sold | 5,967.0 | 5,512.0 | 4,601.0 | 4,336.0 | 4,327.0 | 3,794.0 | 4,899.0 | 4,889.0 |
Gross profit | 2,713.0 | 2,863.0 | 2,587.0 | 2,371.0 | 2,327.0 | 2,220.0 | 2,462.0 | 2,253.0 |
Gross margin | 31.3% | 34.2% | 36.0% | 35.4% | 35.0% | 36.9% | 33.4% | 31.5% |
Selling, general and administrative | 1,390.0 | 1,413.0 | 1,292.0 | 1,274.0 | 1,250.0 | 1,191.0 | 1,375.0 | 1,339.0 |
EBITA | 1,376.0 | 1,481.0 | 1,319.0 | 1,120.0 | 1,097.0 | 1,033.0 | 1,091.0 | 920.0 |
EBITA margin | 15.9% | 17.7% | 18.4% | 16.7% | 16.5% | 17.2% | 14.8% | 12.9% |
Amortization of intangibles | 29.0 | 31.0 | 24.0 | 23.0 | 20.0 | 4.0 | 4.0 | 6.0 |
EBIT | 1,347.0 | 1,450.0 | 1,295.0 | 1,097.0 | 1,077.0 | 1,029.0 | 1,087.0 | 914.0 |
EBIT margin | 15.5% | 17.3% | 18.0% | 16.4% | 16.2% | 17.1% | 14.8% | 12.8% |
Pre-tax income | 1,193.0 | 688.0 | 1,131.0 | 914.0 | 907.0 | 718.0 | 832.0 | 689.0 |
Income taxes | 288.0 | 210.0 | 269.0 | 230.0 | 221.0 | 245.0 | 296.0 | 293.0 |
Tax rate | 24.1% | 30.5% | 23.8% | 25.2% | 24.4% | 34.1% | 35.6% | 42.5% |
Earnings from continuing ops | 844.0 | 410.0 | 810.0 | 639.0 | 636.0 | 426.0 | 789.0 | 751.0 |
Earnings from discontinued ops | | | 414.0 | 296.0 | 98.0 | 107.0 | | |
Net income | 844.0 | 410.0 | 1,224.0 | 935.0 | 734.0 | 533.0 | 789.0 | 751.0 |
Net margin | 9.7% | 4.9% | 17.0% | 13.9% | 11.0% | 8.9% | 10.7% | 10.5% |
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Diluted EPS | $3.64 | $1.63 | $3.07 | $2.22 | $2.07 | $1.34 | $2.39 | $2.20 |
Shares outstanding (diluted) | 232.0 | 251.0 | 264.0 | 288.0 | 307.0 | 318.0 | 330.0 | 341.0 |
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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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