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 | 230 | 171 | 269 | 362 | 8,801 | 8,803 | 8,803 | 9,017 |
Revenue growth | 34.5% | -36.4% | -25.7% | -95.9% | 0.0% | 0.0% | -2.4% | -4.8% |
Cost of goods sold | 4,808 | 3,920 | 3,423 | 5,305 | 5,355 | 4,958 | 4,932 | 7,327 |
Gross profit | -4,578 | -3,749 | -3,154 | -4,943 | 3,446 | 3,845 | 3,871 | 1,690 |
Gross margin | -1990.4% | -2192.4% | -1172.5% | -1365.5% | 39.2% | 43.7% | 44.0% | 18.7% |
Selling, general and administrative | 1,428 | 2,733 | 3,887 | 0 | 1,017 | 880 | 899 | 873 |
EBITA | 1,790 | 1,398 | -1,956 | 94 | -947 | -1,010 | -779 | -424 |
EBITA margin | 778.3% | 817.5% | -727.1% | 26.0% | -10.8% | -11.5% | -8.8% | -4.7% |
Amortization of intangibles | 45 | 88 | 96 | 81 | 89 | 97 | 98 | 118 |
EBIT | 1,745 | 1,310 | -2,052 | 13 | -1,036 | -1,107 | -877 | -542 |
EBIT margin | 758.7% | 766.1% | -762.8% | 3.6% | -11.8% | -12.6% | -10.0% | -6.0% |
Pre-tax income | 2,449 | 683 | -2,052 | 13 | -257 | -575 | -470 | 132 |
Income taxes | 390 | 318 | -329 | 63 | -30 | -902 | 4 | 17 |
Tax rate | 15.9% | 46.6% | 16.0% | 484.6% | 11.7% | 156.9% | | 12.9% |
Earnings from continuing ops | 2,059 | 366 | -1,714 | -58 | -225 | 327 | -474 | 115 |
Earnings from discontinued ops | | | | | | | -17 | 158 |
Net income | 2,059 | 366 | -1,714 | -58 | -225 | 327 | -491 | 273 |
Net margin | 895.2% | 214.0% | -637.2% | -16.0% | -2.6% | 3.7% | -5.6% | 3.0% |
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Diluted EPS | $5.11 | $1,161.90 | ($11.43) | ($0.50) | ($2.68) | $3.94 | ($5.64) | $1.26 |
Shares outstanding (diluted) | 403 | 0 | 150 | 117 | 84 | 83 | 84 | 91 |
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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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