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 | 8,120 | 6,152 | 4,883 | 5,907 | 5,686 | 5,237 | 4,743 | 5,153 |
| Revenue growth | 32.0% | 26.0% | -17.3% | 3.9% | 8.6% | 10.4% | -8.0% | 40.6% |
| Cost of goods sold | 7,448 | 5,488 | 4,393 | 5,305 | 5,148 | 4,682 | 4,227 | 4,703 |
| Gross profit | 672 | 664 | 490 | 602 | 538 | 555 | 516 | 450 |
| Gross margin | 8.3% | 10.8% | 10.0% | 10.2% | 9.5% | 10.6% | 10.9% | 8.7% |
| Selling, general and administrative | 282 | 258 | 237 | 276 | 247 | 247 | 254 | 245 |
| Research and development | 48 | 39 | 39 | 48 | 40 | 36 | 32 | 35 |
| EBIT | 334 | 484 | 125 | 255 | 405 | 846 | 251 | 39 |
| EBIT margin | 4.1% | 7.9% | 2.6% | 4.3% | 7.1% | 16.2% | 5.3% | 0.8% |
| Pre-tax income | 203 | 317 | -34 | 82 | 222 | 49 | 65 | -584 |
| Income taxes | -105 | 55 | -17 | 18 | -32 | -80 | 69 | -32 |
| Tax rate | | 17.4% | 50.0% | 22.0% | | | 106.2% | 5.5% |
| Earnings from continuing ops | 308 | 262 | -34 | 128 | 380 | -62 | -4 | -552 |
| Earnings from discontinued ops | 0 | 0 | | | | | | |
| Net income | 308 | 262 | -34 | 128 | 380 | -62 | -4 | -552 |
| Net margin | 3.8% | 4.3% | -0.7% | 2.2% | 6.7% | -1.2% | -0.1% | -10.7% |
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| Diluted EPS | $2.10 | $1.78 | ($0.15) | $0.90 | $2.75 | ($0.56) | | |
| Shares outstanding (diluted) | 147 | 147 | 227 | 143 | 138 | 110 | | |
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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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