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| 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 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Electrical Products | | | | | | 6,917.0 | | 6,976.0 |
| Electrical Systems and Services | | | | | | 5,666.0 | | 5,931.0 |
| Vehicle | 2,830.0 | 2,579.0 | 2,118.0 | 3,038.0 | 3,489.0 | 3,326.0 | | 3,682.0 |
| Hydraulics | | 1,300.0 | 1,842.0 | 2,204.0 | 2,392.0 | 2,468.0 | | 2,459.0 |
| Other | 17,922.0 | 15,749.0 | 13,898.0 | 16,148.0 | 15,728.0 | 2,027.0 | | 1,807.0 |
| Total revenues | 20,752.0 | 19,628.0 | 17,858.0 | 21,390.0 | 21,609.0 | 20,404.0 | 0.0 | 20,855.0 |
| Revenue growth [+] | 5.7% | 9.9% | -16.5% | -1.0% | 5.9% | | -100.0% | -7.5% |
| Electrical Products | | | | | | | | -3.8% |
| Electrical Systems and Services | | | | | | | | -8.1% |
| Vehicle | 9.7% | 21.8% | -30.3% | -12.9% | 4.9% | | | -8.1% |
| Hydraulics | | -29.4% | -16.4% | -7.9% | -3.1% | | | -17.3% |
| Aerospace | 14.8% | 19.1% | -10.4% | 6.2% | 33.9% | | | -2.8% |
| Cost of goods sold | 13,865.0 | 13,293.0 | 12,408.0 | 14,338.0 | 14,511.0 | 13,756.0 | 13,396.0 | 14,304.0 |
| Gross profit | 6,887.0 | 6,335.0 | 5,450.0 | 7,052.0 | 7,098.0 | 6,648.0 | -13,396.0 | 6,551.0 |
| Gross margin | 33.2% | 32.3% | 30.5% | 33.0% | 32.8% | 32.6% | | 31.4% |
| Selling, general and administrative | 3,227.0 | 3,256.0 | 3,075.0 | 3,583.0 | 3,548.0 | 3,526.0 | 3,464.0 | 3,596.0 |
| Research and development | 665.0 | 616.0 | 551.0 | 606.0 | 584.0 | 584.0 | 587.0 | 625.0 |
| Other operating expenses | -250.0 | -207.0 | -216.0 | -279.0 | -38.0 | -1,370.0 | -20,013.0 | -271.0 |
| EBITDA [+] | 4,199.0 | 3,592.0 | 2,851.0 | 4,026.0 | 3,907.0 | 4,822.0 | 3,495.0 | 3,526.0 |
| EBITDA growth | 16.9% | 26.0% | -29.2% | 3.0% | -19.0% | 38.0% | -0.9% | -7.2% |
| EBITDA margin | 20.2% | 18.3% | 16.0% | 18.8% | 18.1% | 23.6% | | 16.9% |
| Depreciation | 471.0 | 922.0 | 811.0 | 884.0 | 903.0 | 914.0 | 929.0 | 925.0 |
| EBITA | 3,728.0 | 2,670.0 | 2,040.0 | 3,142.0 | 3,004.0 | 3,908.0 | 2,566.0 | 2,601.0 |
| EBITA margin | 18.0% | 13.6% | 11.4% | 14.7% | 13.9% | 19.2% | | 12.5% |
| Amortization of intangibles | 483.0 | | | | | | | |
| EBIT [+] | 3,245.0 | 2,670.0 | 2,040.0 | 3,142.0 | 3,004.0 | 3,908.0 | 2,566.0 | 2,601.0 |
| EBIT growth | 21.5% | 30.9% | -35.1% | 4.6% | -23.1% | 52.3% | -1.3% | -7.6% |
| EBIT margin | 15.6% | 13.6% | 11.4% | 14.7% | 13.9% | 19.2% | | 12.5% |
| Non-recurring items [+] | | | | | | 1,077.0 | | |
| Unusual expense | | | | | | 1,077.0 | | |
| Interest expense | 250.0 | 207.0 | 216.0 | 279.0 | 313.0 | 293.0 | 266.0 | 271.0 |
| Interest expense | 250.0 | 207.0 | 216.0 | 279.0 | 313.0 | 293.0 | 266.0 | 271.0 |
| Other income (expense), net [+] | -84.0 | 433.0 | -78.0 | -272.0 | -267.0 | 830.0 | -182.0 | -197.0 |
| Gain (loss) on sale of business | 24.0 | 617.0 | 221.0 | | | 1,077.0 | | |
| Litigation settlement | | | | | 275.0 | | | |
| Other | 36.0 | -40.0 | -150.0 | -73.0 | -9.0 | -1.0 | 51.0 | 35.0 |
| Pre-tax income | 2,911.0 | 2,896.0 | 1,746.0 | 2,591.0 | 2,424.0 | 3,368.0 | 2,118.0 | 2,133.0 |
| Income taxes | 445.0 | 750.0 | 331.0 | 378.0 | 278.0 | 382.0 | 199.0 | 159.0 |
| Tax rate | 15.3% | 25.9% | 19.0% | 14.6% | 11.5% | 11.3% | 9.4% | 7.5% |
| Minority interest | -4.0 | 2.0 | 5.0 | 2.0 | 1.0 | -1.0 | -3.0 | -2.0 |
| Net income | 2,469.0 | 2,144.0 | 1,410.0 | 2,211.0 | 2,145.0 | 2,985.0 | 1,916.0 | 1,972.0 |
| Net margin | 11.9% | 10.9% | 7.9% | 10.3% | 9.9% | 14.6% | | 9.5% |
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| Basic EPS [+] | $6.19 | $5.38 | $3.51 | $5.28 | $4.94 | $6.72 | $4.21 | $4.24 |
| Growth | 15.2% | 53.4% | -33.6% | 6.8% | -26.5% | 59.5% | -0.6% | 12.0% |
| Diluted EPS [+] | $6.16 | $5.34 | $3.49 | $5.25 | $4.91 | $6.68 | $4.20 | $4.22 |
| Growth | 15.4% | 53.0% | -33.6% | 7.0% | -26.5% | 59.1% | -0.6% | 12.3% |
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| Dividends per share [+] | $3.24 | $3.04 | $2.92 | $2.84 | $2.64 | $2.40 | $2.28 | $2.20 |
| Growth | 6.6% | 4.1% | 2.8% | 7.6% | 10.0% | 5.3% | 3.6% | 12.2% |
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| Shares outstanding (basic) [+] | 398.7 | 398.7 | 402.2 | 419.0 | 434.3 | 444.5 | 455.0 | 465.5 |
| Growth | 0.0% | -0.9% | -4.0% | -3.5% | -2.3% | -2.3% | -2.3% | -1.8% |
| Shares outstanding (diluted) [+] | 400.8 | 401.6 | 404.0 | 420.8 | 436.9 | 447.0 | 456.5 | 467.1 |
| Growth | -0.2% | -0.6% | -4.0% | -3.7% | -2.3% | -2.1% | -2.3% | -2.0% |
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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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