Financial Summary (All financials)
In millions, except per share items | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 |
Revenues | 4,462.6 | 3,052.7 | 2,770.6 | 2,983.4 | 2,383.6 | 2,094.6 | 1,437.2 |
Revenue growth | 46.2% | 10.2% | -7.1% | 25.2% | 13.8% | 45.7% | |
Cost of goods sold | 1,295.7 | 711.6 | 539.9 | 479.9 | 379.4 | 271.2 | 175.3 |
Gross profit | 3,167.0 | 2,341.0 | 2,230.7 | 2,503.6 | 2,004.2 | 1,823.3 | 1,261.9 |
Gross margin | 71.0% | 76.7% | 80.5% | 83.9% | 84.1% | 87.1% | 87.8% |
Sales and marketing | 997.7 | 729.7 | 520.6 | 492.3 | 477.8 | 321.7 | 254.5 |
Research and development | 1,245.8 | 886.1 | 797.1 | 664.4 | 419.1 | 270.4 | 227.8 |
General and administrative | 460.0 | 310.0 | 306.3 | 292.6 | 229.0 | 152.0 | 102.5 |
EBITA | 536.3 | 459.1 | 645.1 | 1,100.5 | 903.4 | 1,110.7 | 675.9 |
EBITA margin | 12.0% | 15.0% | 23.3% | 36.9% | 37.9% | 53.0% | 47.0% |
Amortization of intangibles | 82.2 | 67.7 | 59.4 | 47.8 | 25.0 | 31.4 | |
EBIT | 454.1 | 391.3 | 585.7 | 1,052.7 | 878.4 | 1,079.3 | 675.9 |
EBIT margin | 10.2% | 12.8% | 21.1% | 35.3% | 36.9% | 51.5% | 47.0% |
Pre-tax income | 93.0 | 492.0 | 693.6 | 1,164.1 | 914.1 | 1,100.7 | 699.8 |
Income taxes | -141.1 | 70.0 | 116.1 | 161.7 | 89.0 | 67.1 | 53.3 |
Tax rate | | 14.2% | 16.7% | 13.9% | 9.7% | 6.1% | 7.6% |
Earnings from continuing ops | 568.8 | 257.2 | 1,161.5 | 2,008.7 | 811.0 | 1,034.1 | 646.5 |
Earnings from discontinued ops | 471.4 | 288.3 | -30.2 | -22.3 | 1.4 | 4.1 | |
Net income | 1,040.2 | 545.4 | 1,131.3 | 1,986.4 | 812.4 | 1,038.2 | 646.5 |
Net margin | 23.3% | 17.9% | 40.8% | 66.6% | 34.1% | 49.6% | 45.0% |
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Diluted EPS | $2.25 | $1.04 | $4.79 | $7.87 | $3.06 | $3.84 | $2.18 |
Shares outstanding (diluted) | 252.9 | 247.7 | 242.5 | 255.4 | 264.8 | 269.0 | 296.2 |
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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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