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 | 14,528.0 | 13,877.0 | 12,552.0 | 10,333.0 | 8,423.0 | 8,668.0 | 8,831.0 | 6,596.0 |
Revenue growth | 4.7% | 10.6% | 21.5% | 22.7% | -2.8% | -1.8% | 33.9% | 2.9% |
Cost of goods sold | 8,820.0 | 8,682.0 | 8,348.0 | 6,610.0 | 5,569.0 | 5,794.0 | 5,895.0 | 4,395.0 |
Gross profit | 5,708.0 | 5,195.0 | 4,204.0 | 3,723.0 | 2,854.0 | 2,874.0 | 2,936.0 | 2,201.0 |
Gross margin | 39.3% | 37.4% | 33.5% | 36.0% | 33.9% | 33.2% | 33.2% | 33.4% |
Selling, general and administrative | 4,118.0 | 3,938.0 | 3,516.0 | 2,667.0 | 1,301.0 | 1,442.0 | 1,707.0 | 1,102.0 |
Research and development | | | | | | | | |
EBITA | 3,760.0 | 3,646.0 | 3,082.0 | 2,490.0 | 2,197.0 | 2,099.0 | 1,747.0 | 1,345.0 |
EBITA margin | 25.9% | 26.3% | 24.6% | 24.1% | 26.1% | 24.2% | 19.8% | 20.4% |
Amortization of intangibles | 2,170.0 | 2,383.0 | 2,400.0 | 1,444.0 | 659.0 | 670.0 | 518.0 | 246.0 |
EBIT | 1,590.0 | 1,263.0 | 682.0 | 1,046.0 | 1,538.0 | 1,429.0 | 1,229.0 | 1,099.0 |
EBIT margin | 10.9% | 9.1% | 5.4% | 10.1% | 18.3% | 16.5% | 13.9% | 16.7% |
Pre-tax income | -16,331.0 | 789.0 | 266.0 | 413.0 | 1,104.0 | 976.0 | 837.0 | 1,037.0 |
Income taxes | 377.0 | 371.0 | 96.0 | 100.0 | 208.0 | -321.0 | 291.0 | 379.0 |
Tax rate | | 47.0% | 36.1% | 24.2% | 18.8% | | 34.8% | 36.5% |
Earnings from continuing ops | -16,720.0 | 417.0 | 158.0 | 298.0 | 846.0 | 1,261.0 | 524.0 | 1,297.0 |
Earnings from discontinued ops | | | | | | | 1.0 | -7.0 |
Net income | -16,720.0 | 417.0 | 158.0 | 298.0 | 846.0 | 1,261.0 | 525.0 | 1,290.0 |
Net margin | -115.1% | 3.0% | 1.3% | 2.9% | 10.0% | 14.5% | 5.9% | 19.6% |
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Diluted EPS | ($27.68) | $0.67 | $0.25 | $0.66 | $2.55 | $3.75 | $1.59 | $4.49 |
Shares outstanding (diluted) | 604.0 | 621.0 | 627.0 | 451.0 | 332.0 | 336.0 | 330.0 | 289.0 |
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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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