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 | 43,166.0 | 40,963.0 | 35,994.0 | 34,186.0 | 32,717.0 | 32,243.0 | 31,469.0 | 18,987.0 |
Revenue growth | 5.4% | 13.8% | 5.3% | 4.5% | 1.5% | 2.5% | 65.7% | -1.0% |
Cost of goods sold | 32,796.0 | 30,089.0 | 29,557.0 | 26,175.0 | 25,210.0 | 25,518.0 | 23,149.0 | 13,268.0 |
Gross profit | 10,370.0 | 10,874.0 | 6,437.0 | 8,011.0 | 7,507.0 | 6,725.0 | 8,320.0 | 5,719.0 |
Gross margin | 24.0% | 26.5% | 17.9% | 23.4% | 22.9% | 20.9% | 26.4% | 30.1% |
General and administrative | 3,395.0 | 3,136.0 | 2,979.0 | 3,030.0 | 2,886.0 | 2,833.0 | 3,081.0 | 2,270.0 |
EBITA | 3,729.0 | 7,139.0 | 1,593.0 | 2,703.0 | 2,391.0 | 1,774.0 | 3,201.0 | 1,606.0 |
EBITA margin | 8.6% | 17.4% | 4.4% | 7.9% | 7.3% | 5.5% | 10.2% | 8.5% |
Amortization of intangibles | 285.0 | 287.0 | 290.0 | 305.0 | 339.0 | 260.0 | 19.0 | 171.0 |
EBIT | 3,444.0 | 6,852.0 | 1,303.0 | 2,398.0 | 2,052.0 | 1,514.0 | 3,182.0 | 1,435.0 |
EBIT margin | 8.0% | 16.7% | 3.6% | 7.0% | 6.3% | 4.7% | 10.1% | 7.6% |
Pre-tax income | 6,568.0 | 9,816.0 | 4,162.0 | 5,249.0 | 4,657.0 | 3,722.0 | 4,950.0 | 3,296.0 |
Income taxes | 1,255.0 | 1,277.0 | 629.0 | 795.0 | 695.0 | -139.0 | 815.0 | 462.0 |
Tax rate | 19.1% | 13.0% | 15.1% | 15.1% | 14.9% | | 16.5% | 14.0% |
Net income | 5,313.0 | 8,539.0 | 3,533.0 | 4,454.0 | 3,962.0 | 3,861.0 | 4,135.0 | 2,834.0 |
Net margin | 12.3% | 20.8% | 9.8% | 13.0% | 12.1% | 12.0% | 13.1% | 14.9% |
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Diluted EPS | $12.54 | $19.27 | $7.79 | $9.71 | $8.49 | $8.19 | $8.87 | $8.62 |
Shares outstanding (diluted) | 423.5 | 443.2 | 453.4 | 458.9 | 466.8 | 471.2 | 465.9 | 328.8 |
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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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