Financial Summary (All financials)
| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 |
| Revenues | 1,562.1 | 1,438.8 | 1,232.6 |
| Revenue growth | 8.6% | 16.7% | |
| Cost of goods sold | 1,203.2 | 1,088.3 | 923.2 |
| Gross profit | 358.9 | 350.5 | 309.4 |
| Gross margin | 23.0% | 24.4% | 25.1% |
| Selling, general and administrative | 139.7 | 126.2 | 112.1 |
| Research and development | 38.6 | 42.0 | 39.0 |
| EBIT | 203.6 | 214.7 | 199.0 |
| EBIT margin | 13.0% | 14.9% | 16.1% |
| Pre-tax income | 211.7 | 217.8 | 200.6 |
| Income taxes | 41.6 | 46.5 | 57.8 |
| Tax rate | 19.7% | 21.3% | 28.8% |
| Net income | 170.1 | 171.3 | 142.8 |
| Net margin | 10.9% | 11.9% | 11.6% |
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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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