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 | 22,386.9 | 16,540.3 | 8,542.2 | 10,164.4 | 12,593.2 | 12,173.9 | 8,920.9 | 7,763.2 |
Revenue growth | 35.3% | 93.6% | -16.0% | -19.3% | 3.4% | 36.5% | 14.9% | -36.3% |
Cost of goods sold | 17,909.9 | 12,256.7 | 5,110.1 | 6,788.0 | 9,422.7 | 9,538.0 | 6,496.1 | 5,641.1 |
Gross profit | 4,477.0 | 4,283.7 | 3,432.1 | 3,376.3 | 3,170.5 | 2,635.9 | 2,424.8 | 2,122.2 |
Gross margin | 20.0% | 25.9% | 40.2% | 33.2% | 25.2% | 21.7% | 27.2% | 27.3% |
Selling, general and administrative | 732.4 | 623.1 | 1,187.2 | | | | | |
General and administrative | | | | 119.2 | 103.9 | 98.4 | 88.8 | 87.6 |
EBIT | 2,955.1 | 2,718.8 | 2,111.8 | 2,071.5 | 1,993.2 | 1,566.1 | 1,425.8 | 1,199.5 |
EBIT margin | 13.2% | 16.4% | 24.7% | 20.4% | 15.8% | 12.9% | 16.0% | 15.5% |
Pre-tax income | 2,249.6 | 1,984.2 | 802.3 | 1,651.0 | 1,517.9 | 1,040.8 | 958.0 | 521.9 |
Income taxes | 527.4 | 484.5 | 189.5 | 372.4 | 362.9 | 447.3 | 212.4 | 136.6 |
Tax rate | 23.4% | 24.4% | 23.6% | 22.6% | 23.9% | 43.0% | 22.2% | 26.2% |
Earnings from continuing ops | 1,721.1 | 1,498.6 | 611.7 | 1,277.5 | 1,150.6 | 387.1 | 354.1 | 251.1 |
Earnings from discontinued ops | | | | | | | -2.1 | -6.1 |
Net income | 1,721.1 | 1,498.6 | 611.7 | 1,277.5 | 1,150.6 | 387.1 | 352.0 | 245.0 |
Net margin | 7.7% | 9.1% | 7.2% | 12.6% | 9.1% | 3.2% | 3.9% | 3.2% |
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Diluted EPS | $3.84 | $3.35 | $1.42 | $3.07 | $2.78 | $1.29 | $1.67 | $1.19 |
Shares outstanding (diluted) | 448.4 | 447.4 | 431.8 | 415.4 | 414.2 | 299.8 | 212.4 | 210.5 |
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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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