Financial Summary (All financials)
In millions, except per share items | Dec-31-08 | Dec-31-07 | Dec-31-06 | Dec-31-05 | Dec-31-04 | Dec-31-03 |
Revenues | 22,833.9 | 22,399.8 | 20,350.7 | 18,755.8 | 17.4 | 15.9 |
Revenue growth | 1.9% | 10.1% | 8.5% | 107952.5% | 9.5% | |
Cost of goods sold | 6,247.8 | 6,313.7 | 5,587.9 | 5,431.2 | 4.9 | 4.6 |
Gross profit | 16,586.1 | 16,086.1 | 14,762.8 | 13,324.6 | 12.4 | 11.3 |
Gross margin | 72.6% | 71.8% | 72.5% | 71.0% | 71.5% | 71.0% |
Selling, general and administrative | 6,838.4 | 6,753.7 | 6,502.0 | 6,117.7 | 5.8 | 5.5 |
Research and development | 3,373.2 | 3,256.8 | 3,109.1 | 2,749.4 | 2.5 | 2.1 |
EBITA | 6,453.6 | 6,151.6 | 5,193.1 | 5,290.9 | 41.1 | 35.2 |
EBITA margin | 28.3% | 27.5% | 25.5% | 28.2% | 237.0% | 222.0% |
Amortization of intangibles | 79.0 | 76.0 | 41.4 | 37.7 | 40.8 | 32.2 |
EBIT | 6,374.6 | 6,075.6 | 5,151.8 | 5,253.2 | 0.3 | 3.0 |
EBIT margin | 27.9% | 27.1% | 25.3% | 28.0% | 1.8% | 19.0% |
Pre-tax income | 6,338.1 | 6,456.7 | 5,429.9 | 4,780.6 | -0.1 | 2.4 |
Income taxes | 1,920.3 | 1,840.7 | 1,233.2 | 1,124.3 | -1.4 | 0.3 |
Tax rate | 30.3% | 28.5% | 22.7% | 23.5% | 1050.3% | 13.1% |
Net income | 4,417.8 | 4,616.0 | 4,196.7 | 3,656.3 | 1.2 | 2.1 |
Net margin | 19.3% | 20.6% | 20.6% | 19.5% | 7.1% | 12.9% |
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Diluted EPS | $3.27 | $3.38 | $3.08 | $2.70 | $0.91 | $1.54 |
Shares outstanding (diluted) | 1,351.0 | 1,365.7 | 1,362.6 | 1,354.2 | 1.4 | 1.3 |
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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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