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 | 12,943.0 | 11,394.0 | 9,392.0 | 9,559.0 | 11,151.0 | 8,698.0 | 8,284.0 | 8,762.0 |
| Revenue growth | 13.6% | 21.3% | -1.7% | -14.3% | 28.2% | 5.0% | -5.5% | -3.7% |
| Cost of goods sold | 460.0 | 447.0 | 422.0 | 431.0 | 425.0 | 247.0 | 6,870.0 | 7,116.0 |
| Gross profit | 12,483.0 | 10,947.0 | 8,970.0 | 9,128.0 | 10,726.0 | 8,451.0 | 1,414.0 | 1,646.0 |
| Gross margin | 96.4% | 96.1% | 95.5% | 95.5% | 96.2% | 97.2% | 17.1% | 18.8% |
| Selling, general and administrative | 556.0 | 583.0 | 533.0 | 556.0 | 558.0 | 367.0 | 366.0 | 390.0 |
| EBIT | 1,380.0 | 1,332.0 | 1,116.0 | 1,013.0 | 1,149.0 | 1,066.0 | 1,034.0 | 997.0 |
| EBIT margin | 10.7% | 11.7% | 11.9% | 10.6% | 10.3% | 12.3% | 12.5% | 11.4% |
| Pre-tax income | 1,056.0 | -419.0 | 725.0 | 631.0 | 740.0 | 829.0 | 769.0 | 639.0 |
| Income taxes | 243.0 | -57.0 | 199.0 | 136.0 | 216.0 | 401.0 | 186.0 | 178.0 |
| Tax rate | 23.0% | 13.6% | 27.4% | 21.6% | 29.2% | 48.4% | 24.2% | 27.9% |
| Earnings from continuing ops | 855.0 | -359.0 | 532.0 | 500.0 | 439.0 | 323.0 | 496.0 | 393.0 |
| Earnings from discontinued ops | | -52.0 | 156.0 | 125.0 | | | | |
| Net income | 855.0 | -411.0 | 688.0 | 625.0 | 439.0 | 323.0 | 496.0 | 393.0 |
| Net margin | 6.6% | -3.6% | 7.3% | 6.5% | 3.9% | 3.7% | 6.0% | 4.5% |
| |
| Diluted EPS | $7.04 | ($2.75) | $3.95 | $3.71 | $3.28 | $2.38 | $3.56 | $2.82 |
| Shares outstanding (diluted) | 121.4 | 130.4 | 134.6 | 134.9 | 133.9 | 135.6 | 139.3 | 139.1 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|