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 | 13,127.5 | 9,680.1 | 5,162.1 | 12,899.7 | 11,763.1 | 10,797.5 | 9,478.3 | 9,190.1 |
Revenue growth | 35.6% | 87.5% | -60.0% | 9.7% | 8.9% | 13.9% | 3.1% | -8.8% |
Cost of goods sold | 3,338.2 | 3,400.5 | 2,054.3 | 5,201.3 | 6,928.0 | 6,202.8 | 5,247.5 | 5,112.2 |
Gross profit | 9,789.2 | 6,279.6 | 3,107.7 | 7,698.4 | 4,835.1 | 4,594.7 | 4,230.8 | 4,077.9 |
Gross margin | 74.6% | 64.9% | 60.2% | 59.7% | 41.1% | 42.6% | 44.6% | 44.4% |
Selling, general and administrative | 4,705.7 | 2,930.0 | 2,582.5 | 2,565.9 | 2,183.8 | 1,916.4 | 1,691.2 | 1,583.7 |
General and administrative | 479.1 | 422.8 | 460.1 | 464.6 | 419.2 | 356.9 | 312.7 | 274.6 |
EBITA | 3,979.2 | 2,560.5 | -405.5 | 4,251.7 | 1,793.2 | 2,031.7 | 2,786.5 | 1,768.6 |
EBITA margin | 30.3% | 26.5% | -7.9% | 33.0% | 15.2% | 18.8% | 29.4% | 19.2% |
Amortization of intangibles | 2,700.0 | 197.0 | 194.0 | 192.0 | 176.0 | 173.0 | 180.0 | 199.0 |
EBIT | 1,279.2 | 2,363.5 | -599.5 | 4,059.7 | 1,617.2 | 1,858.7 | 2,606.5 | 1,569.6 |
EBIT margin | 9.7% | 24.4% | -11.6% | 31.5% | 13.7% | 17.2% | 27.5% | 17.1% |
Pre-tax income | 903.8 | 1,461.8 | -1,511.5 | 2,846.7 | 634.0 | 960.8 | 1,257.6 | -1,046.2 |
Income taxes | 697.1 | 253.4 | -191.6 | 632.3 | 50.1 | -1,127.4 | 21.7 | -6.6 |
Tax rate | 77.1% | 17.3% | 12.7% | 22.2% | 7.9% | | 1.7% | 0.6% |
Net income | 1,473.1 | 1,254.4 | -1,032.7 | 2,049.1 | 466.8 | 1,952.1 | 1,100.4 | -447.7 |
Net margin | 11.2% | 13.0% | -20.0% | 15.9% | 4.0% | 18.1% | 11.6% | -4.9% |
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Diluted EPS | $3.57 | $2.57 | ($2.09) | $3.88 | $0.85 | $3.37 | $1.92 | ($0.82) |
Shares outstanding (diluted) | 413.0 | 487.4 | 494.2 | 527.6 | 549.5 | 578.8 | 573.3 | 542.9 |
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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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