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 | 48,971.0 | 29,882.0 | 17,337.0 | 45,768.0 | 44,541.0 | 42,622.0 | 40,142.0 | 40,990.0 |
Revenue growth | 63.9% | 72.4% | -62.1% | 2.8% | 4.5% | 6.2% | -2.1% | -3.9% |
Cost of goods sold | 37,957.0 | 27,836.0 | 22,523.0 | 32,654.0 | 32,651.0 | 29,590.0 | 26,891.0 | 26,603.0 |
Gross profit | 11,014.0 | 2,046.0 | -5,186.0 | 13,114.0 | 11,890.0 | 13,032.0 | 13,251.0 | 14,387.0 |
Gross margin | 22.5% | 6.8% | -29.9% | 28.7% | 26.7% | 30.6% | 33.0% | 35.1% |
Selling, general and administrative | | | | | | | | |
Sales and marketing | 1,815.0 | 1,098.0 | 666.0 | 2,004.0 | 1,520.0 | 1,477.0 | 1,323.0 | 1,394.0 |
EBITA | 190.0 | -2,469.0 | -11,365.0 | 2,235.0 | 3,484.0 | 4,987.0 | 5,845.0 | 7,310.0 |
EBITA margin | 0.4% | -8.3% | -65.6% | 4.9% | 7.8% | 11.7% | 14.6% | 17.8% |
Amortization of intangibles | 41.0 | 41.0 | 41.0 | 41.0 | 41.0 | 44.0 | 76.0 | 55.0 |
EBIT | 149.0 | -2,510.0 | -11,406.0 | 2,194.0 | 3,443.0 | 4,943.0 | 5,769.0 | 7,255.0 |
EBIT margin | 0.3% | -8.4% | -65.8% | 4.8% | 7.7% | 11.6% | 14.4% | 17.7% |
Pre-tax income | 186.0 | -2,548.0 | -11,453.0 | 2,256.0 | 1,884.0 | 3,395.0 | 4,152.0 | 4,616.0 |
Income taxes | 59.0 | -555.0 | -2,568.0 | 570.0 | 472.0 | 2,113.0 | 1,568.0 | -2,994.0 |
Tax rate | 31.7% | 21.8% | 22.4% | 25.3% | 25.1% | 62.2% | 37.8% | |
Net income | 127.0 | -1,993.0 | -8,885.0 | 1,686.0 | 1,412.0 | 1,282.0 | 2,584.0 | 7,610.0 |
Net margin | 0.3% | -6.7% | -51.2% | 3.7% | 3.2% | 3.0% | 6.4% | 18.6% |
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Diluted EPS | $0.19 | ($3.09) | ($18.36) | $3.79 | $3.03 | $2.61 | $4.65 | $11.07 |
Shares outstanding (diluted) | 655.1 | 644.0 | 483.9 | 444.3 | 465.7 | 491.7 | 556.1 | 687.4 |
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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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