Financial Summary (All financials)
In millions, except per share items | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 |
Revenues | 34,975.0 | 24,582.0 | 28,711.0 | 40,633.0 | 37,601.0 | 29,809.0 | 27,182.0 | 20,583.0 |
Revenue growth | 42.3% | -14.4% | -29.3% | 8.1% | 26.1% | 9.7% | 32.1% | 22.0% |
Cost of goods sold | 34,715.0 | 24,590.0 | 26,711.0 | 38,047.0 | 35,996.0 | 27,450.0 | 25,371.0 | 19,725.0 |
Gross profit | 260.0 | -8.0 | 2,000.0 | 2,586.0 | 1,605.0 | 2,359.0 | 1,811.0 | 858.0 |
Gross margin | 0.7% | 0.0% | 7.0% | 6.4% | 4.3% | 7.9% | 6.7% | 4.2% |
Selling, general and administrative | 1,455.0 | 772.0 | 722.0 | 346.0 | 337.0 | 297.0 | 227.0 | 242.0 |
General and administrative | 713.0 | 371.0 | 336.0 | | | | | |
EBITA | 1,643.0 | 1,566.0 | 2,919.0 | 1,663.0 | 803.0 | 1,656.0 | 1,211.0 | 327.0 |
EBITA margin | 4.7% | 6.4% | 10.2% | 4.1% | 2.1% | 5.6% | 4.5% | 1.6% |
Amortization of intangibles | 70.0 | 63.0 | 43.0 | 17.0 | 13.0 | 12.0 | 18.0 | 18.0 |
EBIT | 1,573.0 | 1,503.0 | 2,876.0 | 1,646.0 | 790.0 | 1,644.0 | 1,193.0 | 309.0 |
EBIT margin | 4.5% | 6.1% | 10.0% | 4.1% | 2.1% | 5.5% | 4.4% | 1.5% |
Pre-tax income | 1,115.0 | 1,277.0 | 2,630.0 | 1,464.0 | 680.0 | 1,430.0 | 952.0 | -25.0 |
Income taxes | -560.0 | 427.0 | 936.0 | 547.0 | 246.0 | 527.0 | 359.0 | 4.0 |
Tax rate | | 33.4% | 35.6% | 37.4% | 36.2% | 36.9% | 37.7% | |
Earnings from continuing ops | 1,520.0 | 724.0 | 1,544.0 | 1,789.0 | 392.0 | 1,779.0 | 1,169.0 | -29.0 |
Earnings from discontinued ops | 8.0 | 10.0 | -4.0 | -29.0 | 20.0 | -133.0 | -30.0 | |
Net income | 1,528.0 | 734.0 | 1,540.0 | 1,760.0 | 412.0 | 1,646.0 | 1,139.0 | -29.0 |
Net margin | 4.4% | 3.0% | 5.4% | 4.3% | 1.1% | 5.5% | 4.2% | -0.1% |
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Diluted EPS | $10.76 | $6.04 | $12.39 | $13.68 | $2.86 | $12.57 | $8.16 | ($0.21) |
Shares outstanding (diluted) | 141.3 | 119.9 | 124.6 | 130.8 | 137.3 | 141.5 | 143.3 | 140.6 |
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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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