Financial Summary (All financials)
| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 |
| Revenues | 4,796 | 4,689 | 3,357 |
| Revenue growth | 2.3% | 39.7% | |
| Cost of goods sold | 3,947 | 3,877 | 2,766 |
| Gross profit | 849 | 812 | 591 |
| Gross margin | 17.7% | 17.3% | 17.6% |
| Selling, general and administrative | 640 | 539 | 455 |
| EBITA | 144 | 216 | 85 |
| EBITA margin | 3.0% | 4.6% | 2.5% |
| Amortization of intangibles | 21 | 24 | 25 |
| EBIT | 123 | 192 | 60 |
| EBIT margin | 2.6% | 4.1% | 1.8% |
| Pre-tax income | 119 | 191 | 57 |
| Income taxes | 27 | 41 | 14 |
| Tax rate | 22.7% | 21.5% | 24.6% |
| Net income | 92 | 150 | 43 |
| Net margin | 1.9% | 3.2% | 1.3% |
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| Diluted EPS | $0.79 | $1.30 | $0.37 |
| Shares outstanding (diluted) | 116 | 115 | 115 |
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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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