Financial Summary (All financials)
In millions, except per share items | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 | Dec-31-07 |
Revenues | 15,263.0 | 15,215.0 | 12,988.0 | 10,221.0 | 8,833.0 | 9,600.6 | 7,832.1 |
Revenue growth | 0.3% | 17.1% | 27.1% | 15.7% | -8.0% | 22.6% | |
Cost of goods sold | 12,302.0 | 11,855.0 | 9,678.0 | 9,447.0 | 8,146.0 | 7,645.4 | 6,207.7 |
Gross profit | 2,961.0 | 3,360.0 | 3,310.0 | 774.0 | 687.0 | 1,955.2 | 1,624.3 |
Gross margin | 19.4% | 22.1% | 25.5% | 7.6% | 7.8% | 20.4% | 20.7% |
Selling, general and administrative | | | | 1,641.0 | 1,486.0 | 1,269.3 | 980.8 |
Research and development | 265.0 | 257.0 | 245.0 | 216.0 | 196.0 | 192.7 | 169.3 |
General and administrative | 316.0 | 355.0 | 226.0 | 1,404.0 | 1,260.0 | 1,081.0 | 850.4 |
EBITA | 643.0 | 420.0 | 1,409.0 | 866.0 | 768.0 | 2,018.2 | 1,624.3 |
EBITA margin | 4.2% | 2.8% | 10.8% | 8.5% | 8.7% | 21.0% | 20.7% |
Amortization of intangibles | 120.0 | 122.0 | 102.0 | 92.0 | 81.0 | 63.0 | |
EBIT | 523.0 | 298.0 | 1,307.0 | 774.0 | 687.0 | 1,955.2 | 1,624.3 |
EBIT margin | 3.4% | 2.0% | 10.1% | 7.6% | 7.8% | 20.4% | 20.7% |
Pre-tax income | -170.0 | -288.0 | 747.0 | 197.0 | 276.0 | 1,666.5 | 1,444.5 |
Income taxes | 144.0 | 462.0 | 542.0 | 396.0 | 163.0 | 372.8 | 332.8 |
Tax rate | | | 72.6% | 201.0% | 59.1% | 22.4% | 23.0% |
Earnings from continuing ops | -283.0 | -722.0 | 221.0 | -181.0 | 139.0 | 2,621.7 | 2,243.2 |
Earnings from discontinued ops | | | | | | -12.9 | -21.4 |
Net income | -283.0 | -722.0 | 221.0 | -181.0 | 139.0 | 2,608.7 | 2,221.8 |
Net margin | -1.9% | -4.7% | 1.7% | -1.8% | 1.6% | 27.2% | 28.4% |
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Diluted EPS | ($0.37) | ($0.94) | $0.29 | ($0.24) | $0.19 | $3.76 | $3.23 |
Shares outstanding (diluted) | 772.0 | 765.0 | 760.0 | 743.0 | 723.0 | 698.2 | 695.5 |
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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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