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 | 2,497.0 | 2,462.5 | 2,269.4 | 2,607.1 | 2,395.1 | 2,145.2 | 1,995.2 | 1,760.7 |
Revenue growth | 1.4% | 8.5% | -13.0% | 8.9% | 11.6% | 7.5% | 13.3% | 23.0% |
Cost of goods sold | 824.6 | 853.7 | 791.7 | 976.8 | 886.2 | 783.8 | 714.4 | 612.0 |
Gross profit | 1,672.4 | 1,608.8 | 1,477.7 | 1,630.3 | 1,508.9 | 1,361.4 | 1,280.8 | 1,148.7 |
Gross margin | 67.0% | 65.3% | 65.1% | 62.5% | 63.0% | 63.5% | 64.2% | 65.2% |
Selling, general and administrative | 381.5 | 313.2 | 308.2 | 603.5 | 378.7 | 322.8 | 301.6 | 278.3 |
EBITA | 1,549.4 | 1,088.1 | 1,122.2 | 834.9 | 964.9 | 903.0 | 866.0 | 798.2 |
EBITA margin | 62.1% | 44.2% | 49.4% | 32.0% | 40.3% | 42.1% | 43.4% | 45.3% |
Amortization of intangibles | 142.9 | 176.7 | 165.9 | 138.0 | 130.8 | 101.8 | 98.4 | 94.8 |
EBIT | 1,406.5 | 911.4 | 956.3 | 696.9 | 834.1 | 801.2 | 767.6 | 703.4 |
EBIT margin | 56.3% | 37.0% | 42.1% | 26.7% | 34.8% | 37.3% | 38.5% | 40.0% |
Pre-tax income | 1,262.4 | 786.5 | 818.4 | 568.4 | 719.7 | 691.0 | 653.7 | 684.1 |
Income taxes | 220.3 | 179.4 | 164.6 | 118.5 | 121.0 | 135.9 | 202.2 | 196.6 |
Tax rate | 17.5% | 22.8% | 20.1% | 20.8% | 16.8% | 19.7% | 30.9% | 28.7% |
Earnings from continuing ops | 2,083.8 | 607.0 | 653.8 | 449.9 | 598.7 | 555.1 | 451.5 | 487.5 |
Earnings from discontinued ops | -87.8 | 59.2 | 58.9 | | | | | |
Net income | 1,996.0 | 666.2 | 712.7 | 449.9 | 598.7 | 555.1 | 591.2 | 507.6 |
Net margin | 79.9% | 27.1% | 31.4% | 17.3% | 25.0% | 25.9% | 29.6% | 28.8% |
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Diluted EPS | $13.11 | $3.72 | $3.95 | $2.70 | $3.56 | $3.29 | $2.64 | $2.89 |
Shares outstanding (diluted) | 158.9 | 163.3 | 165.3 | 166.6 | 168.3 | 168.7 | 171.2 | 168.5 |
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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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