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 | 2,270.3 | 2,147.9 | 1,612.2 | 1,681.4 | 1,633.7 | 1,560.3 | 0.0 | 1,503.0 |
Revenue growth | 5.7% | 33.2% | -4.1% | 2.9% | 4.7% | | -100.0% | -2.3% |
Cost of goods sold | 1,091.1 | 1,029.5 | 782.3 | 809.1 | 791.4 | 758.4 | 773.3 | 727.1 |
Gross profit | 1,179.2 | 1,118.4 | 829.8 | 872.2 | 842.4 | 801.9 | -773.3 | 775.8 |
Gross margin | 51.9% | 52.1% | 51.5% | 51.9% | 51.6% | 51.4% | | 51.6% |
Selling, general and administrative | 833.4 | 795.4 | 610.6 | 627.5 | 611.9 | 578.3 | 600.1 | 604.0 |
Research and development | 56.4 | 55.3 | 48.9 | 51.6 | 51.5 | 47.2 | 48.1 | 46.0 |
EBITA | 289.4 | 267.7 | 170.3 | 193.2 | 180.3 | 179.1 | 153.5 | 128.5 |
EBITA margin | 12.7% | 12.5% | 10.6% | 11.5% | 11.0% | 11.5% | | 8.6% |
Amortization of intangibles | 7.9 | 7.9 | 11.6 | 7.5 | 8.0 | 9.3 | 9.3 | 9.3 |
EBIT | 281.5 | 259.8 | 158.7 | 185.7 | 172.3 | 169.8 | 144.2 | 119.2 |
EBIT margin | 12.4% | 12.1% | 9.8% | 11.0% | 10.5% | 10.9% | | 7.9% |
Pre-tax income | 259.4 | 247.8 | 113.0 | 165.2 | 150.3 | 151.7 | 89.2 | 32.2 |
Income taxes | 54.4 | 63.6 | 13.0 | 40.6 | 47.2 | 48.5 | 39.7 | 28.0 |
Tax rate | 20.9% | 25.7% | 11.5% | 24.6% | 31.4% | 32.0% | 44.5% | 87.1% |
Net income | 199.3 | 178.9 | 96.0 | 121.1 | 99.9 | 98.7 | 39.7 | -14.8 |
Net margin | 8.8% | 8.3% | 6.0% | 7.2% | 6.1% | 6.3% | | -1.0% |
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Diluted EPS | $2.75 | $2.38 | $1.28 | $1.60 | $1.32 | $1.32 | $0.62 | ($0.74) |
Shares outstanding (diluted) | 72.6 | 75.3 | 75.1 | 75.8 | 75.5 | 74.6 | 64.3 | 19.9 |
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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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