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 | 4,348.5 | 3,982.2 | 3,260.4 | 3,083.0 | 3,262.7 | 2,810.3 | 2,405.1 | 2,400.1 |
Revenue growth | 9.2% | 22.1% | 5.8% | -5.5% | 16.1% | 16.8% | 0.2% | 40.9% |
Cost of goods sold | 2.7 | 2.6 | 2.5 | 2.4 | 3.2 | 2.3 | 2.2 | 1,848.4 |
Gross profit | 4,345.8 | 3,979.7 | 3,258.0 | 3,080.6 | 3,259.6 | 2,808.0 | 2,402.9 | 551.7 |
Gross margin | 99.9% | 99.9% | 99.9% | 99.9% | 99.9% | 99.9% | 99.9% | 23.0% |
Sales and marketing | 175.0 | 179.2 | 183.1 | 195.1 | 187.3 | 137.1 | 127.9 | 116.2 |
General and administrative | 212.5 | 200.2 | 166.3 | 157.2 | 155.0 | 137.8 | 124.1 | 120.8 |
EBIT | 746.8 | 604.9 | 366.7 | 253.8 | 352.8 | 350.1 | 296.1 | 316.3 |
EBIT margin | 17.2% | 15.2% | 11.2% | 8.2% | 10.8% | 12.5% | 12.3% | 13.2% |
Pre-tax income | 773.2 | 625.7 | 373.4 | 271.1 | 362.1 | 339.8 | 302.2 | 319.3 |
Income taxes | 190.8 | 156.4 | 91.2 | 63.9 | 90.6 | 152.3 | 106.1 | 112.1 |
Tax rate | 24.7% | 25.0% | 24.4% | 23.6% | 25.0% | 44.8% | 35.1% | 35.1% |
Net income | 576.1 | 469.3 | 282.2 | 207.2 | 269.9 | 187.2 | 195.2 | 205.5 |
Net margin | 13.2% | 11.8% | 8.7% | 6.7% | 8.3% | 6.7% | 8.1% | 8.6% |
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Diluted EPS | $5.54 | $4.12 | $2.17 | $1.47 | $1.81 | $1.21 | $1.21 | $1.27 |
Shares outstanding (diluted) | 104.0 | 113.8 | 130.0 | 141.4 | 149.0 | 155.1 | 161.4 | 162.3 |
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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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