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 | 2,271.0 | 1,852.5 | 1,402.1 | 1,591.4 | 1,539.7 | 1,396.6 | 1,187.4 | 1,119.6 |
| Revenue growth | 22.6% | 32.1% | -11.9% | 3.4% | 10.2% | 17.6% | 6.1% | 3.3% |
| Cost of goods sold | 540.1 | 496.7 | 470.6 | 471.4 | 448.5 | 400.2 | 361.6 | 323.5 |
| Gross profit | 1,730.9 | 1,355.7 | 931.5 | 1,119.9 | 1,091.2 | 996.3 | 825.9 | 796.1 |
| Gross margin | 76.2% | 73.2% | 66.4% | 70.4% | 70.9% | 71.3% | 69.6% | 71.1% |
| Selling, general and administrative | | | | | | | | |
| General and administrative | 14.5 | 16.3 | 16.6 | 23.4 | 24.8 | 27.0 | 34.4 | 27.4 |
| EBITA | 1,716.4 | 1,339.5 | 914.9 | 1,096.6 | 1,097.9 | 819.7 | 567.8 | 585.8 |
| EBITA margin | 75.6% | 72.3% | 65.3% | 68.9% | 71.3% | 58.7% | 47.8% | 52.3% |
| Amortization of intangibles | | | | | | | | 9.2 |
| EBIT | 1,716.4 | 1,339.5 | 914.9 | 1,096.6 | 1,097.9 | 819.7 | 567.8 | 576.5 |
| EBIT margin | 75.6% | 72.3% | 65.3% | 68.9% | 71.3% | 58.7% | 47.8% | 51.5% |
| Pre-tax income | 1,411.7 | 1,056.4 | 685.8 | 843.9 | 818.7 | 735.1 | 572.2 | 578.7 |
| Income taxes | 283.6 | 183.4 | 118.0 | 169.9 | 115.0 | 229.5 | 140.5 | 194.0 |
| Tax rate | 20.1% | 17.4% | 17.2% | 20.1% | 14.0% | 31.2% | 24.6% | 33.5% |
| Net income | 1,128.1 | 873.0 | 567.8 | 674.0 | 703.7 | 505.6 | 431.7 | 384.7 |
| Net margin | 49.7% | 47.1% | 40.5% | 42.4% | 45.7% | 36.2% | 36.4% | 34.4% |
| |
| Diluted EPS | $7.92 | $6.10 | $3.97 | $4.61 | $4.81 | $3.47 | $2.97 | $2.66 |
| Shares outstanding (diluted) | 142.5 | 143.1 | 143.0 | 146.2 | 146.2 | 145.9 | 145.2 | 144.5 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|