Financial Summary (All financials)
In millions, except per share items | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 |
Revenues | 74,298.0 | 74,286.0 | 72,854.0 | 72,444.0 | 63,815.0 | 68,441.0 | 69,752.0 | 68,210.0 |
Revenue growth | 0.0% | 2.0% | 0.6% | 13.5% | -6.8% | -1.9% | 2.3% | 17.9% |
Cost of goods sold | 64,256.0 | 53,577.0 | 52,200.0 | 52,266.0 | 23,512.0 | 24,647.0 | 27,137.0 | 27,132.0 |
Gross profit | 10,042.0 | 20,709.0 | 20,654.0 | 20,178.0 | 40,303.0 | 43,794.0 | 42,615.0 | 41,078.0 |
Gross margin | 13.5% | 27.9% | 28.3% | 27.9% | 63.2% | 64.0% | 61.1% | 60.2% |
Selling, general and administrative | | | | | | | | |
Sales and marketing | 1,217.0 | 1,516.0 | 1,545.0 | 1,608.0 | 1,632.0 | 1,547.0 | 1,844.0 | 1,888.0 |
Research and development | 7,383.0 | 7,077.0 | 7,193.0 | 6,909.0 | 6,701.0 | 6,581.0 | 6,436.0 | 6,136.0 |
EBITA | 13,631.0 | 23,017.0 | 22,341.0 | 21,927.0 | 19,909.0 | 19,493.0 | 12,230.0 | 17,772.0 |
EBITA margin | 18.3% | 31.0% | 30.7% | 30.3% | 31.2% | 28.5% | 17.5% | 26.1% |
Amortization of intangibles | 419.0 | 564.0 | 557.0 | 603.0 | 595.0 | 625.0 | 756.0 | 808.0 |
EBIT | 13,212.0 | 22,453.0 | 21,784.0 | 21,324.0 | 19,314.0 | 18,868.0 | 11,474.0 | 16,964.0 |
EBIT margin | 17.8% | 30.2% | 29.9% | 29.4% | 30.3% | 27.6% | 16.4% | 24.9% |
Pre-tax income | 13,632.0 | 23,901.0 | 23,445.0 | 22,761.0 | 21,477.0 | 24,826.0 | 14,701.0 | 19,802.0 |
Income taxes | 2,525.0 | 4,430.0 | 5,357.0 | 29,388.0 | 6,444.0 | 7,440.0 | 7,197.0 | 6,186.0 |
Tax rate | 18.5% | 18.5% | 22.8% | 129.1% | 30.0% | 30.0% | 49.0% | 31.2% |
Earnings from continuing ops | 22,174.0 | 38,876.0 | 36,141.0 | -6,687.0 | 30,003.0 | 34,682.0 | 14,816.0 | 13,029.0 |
Earnings from discontinued ops | -20.0 | -4.0 | -8.0 | -111.0 | -58.0 | -54.0 | -2.0 | 630.0 |
Net income | 22,154.0 | 38,872.0 | 36,133.0 | -6,798.0 | 29,945.0 | 34,628.0 | 14,814.0 | 13,659.0 |
Net margin | 29.8% | 52.3% | 49.6% | -9.4% | 46.9% | 50.6% | 21.2% | 20.0% |
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Diluted EPS | $10.56 | $17.16 | $14.49 | ($2.48) | $10.39 | $11.53 | $4.88 | $4,283.60 |
Shares outstanding (diluted) | 2,099.0 | 2,265.3 | 2,494.8 | 2,698.5 | 2,888.3 | 3,007.7 | 3,037.0 | 3.0 |
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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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