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 | 17,071.3 | 16,523.5 | 9,584.4 | 8,175.4 | 8,138.4 | 6,920.9 | 6,098.0 | 6,616.6 |
Revenue growth | 3.3% | 72.4% | 17.2% | 0.5% | 17.6% | 13.5% | -7.8% | 0.8% |
Cost of goods sold | 14,842.8 | 14,306.8 | 8,364.7 | 7,127.5 | 7,064.1 | 5,988.6 | 1,266.4 | 1,246.0 |
Gross profit | 2,228.5 | 2,216.7 | 1,219.7 | 1,048.0 | 1,074.3 | 932.3 | 4,831.6 | 5,370.7 |
Gross margin | 13.1% | 13.4% | 12.7% | 12.8% | 13.2% | 13.5% | 79.2% | 81.2% |
Sales and marketing | 24.3 | 16.0 | 18.4 | 44.0 | 45.3 | 44.3 | 41.8 | 42.0 |
EBIT | 1,837.1 | 1,928.4 | 960.5 | 766.7 | 796.6 | 700.3 | 670.2 | 721.5 |
EBIT margin | 10.8% | 11.7% | 10.0% | 9.4% | 9.8% | 10.1% | 11.0% | 10.9% |
Pre-tax income | 1,835.9 | 1,924.6 | 956.6 | 795.8 | 818.3 | 718.6 | 686.9 | 736.7 |
Income taxes | 475.3 | 505.8 | 258.4 | 203.8 | 198.5 | 228.2 | 254.3 | 277.2 |
Tax rate | 25.9% | 26.3% | 27.0% | 25.6% | 24.3% | 31.8% | 37.0% | 37.6% |
Net income | 1,357.4 | 1,415.5 | 696.1 | 590.4 | 618.2 | 489.3 | 430.8 | 457.2 |
Net margin | 8.0% | 8.6% | 7.3% | 7.2% | 7.6% | 7.1% | 7.1% | 6.9% |
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Diluted EPS | $8.26 | $8.27 | $4.07 | $3.39 | $3.48 | $2.69 | $2.36 | $2.40 |
Shares outstanding (diluted) | 164.4 | 171.3 | 170.9 | 174.2 | 177.8 | 181.7 | 182.7 | 190.2 |
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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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