Financial Summary (All financials)
| In millions, except per share items | Dec-31-22 | Dec-31-21 |
| Revenues | 2,340 | 3,962 |
| Revenue growth | -40.9% | |
| Cost of goods sold | 259 | 234 |
| Gross profit | 2,081 | 3,728 |
| Gross margin | 88.9% | 94.1% |
| Selling, general and administrative | 329 | 484 |
| EBITA | -730 | 1,255 |
| EBITA margin | -31.2% | 31.7% |
| Amortization of intangibles | 25 | 28 |
| EBIT | -755 | 1,227 |
| EBIT margin | -32.3% | 31.0% |
| Pre-tax income | 598 | 1,077 |
| Income taxes | 117 | 220 |
| Tax rate | 19.6% | 20.4% |
| Net income | 481 | 865 |
| Net margin | 20.6% | 21.8% |
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| Diluted EPS | $4.18 | $8.24 |
| Shares outstanding (diluted) | 115 | 105 |
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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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