Financial Summary (All financials)
In millions, except per share items | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 |
Revenues | 102,063.0 | 109,814.0 | 103,912.0 | 95,415.0 | 91,208.0 | 142,680.0 | 146,451.0 | 97,142.0 |
Revenue growth | -7.1% | 5.7% | 8.9% | 4.6% | -36.1% | -2.6% | 50.8% | 3.7% |
Cost of goods sold | 39,437.0 | 38,477.0 | 37,069.0 | 34,931.0 | 33,841.0 | 33,518.0 | 34,069.0 | 34,503.0 |
Gross profit | 62,626.0 | 71,337.0 | 66,843.0 | 60,484.0 | 57,367.0 | 109,162.0 | 112,382.0 | 62,639.0 |
Gross margin | 61.4% | 65.0% | 64.3% | 63.4% | 62.9% | 76.5% | 76.7% | 64.5% |
Selling, general and administrative | | | | | | | | |
Sales and marketing | 2,476.0 | 3,351.0 | 3,044.0 | 2,900.0 | 2,897.0 | 2,708.0 | 2,550.0 | 2,500.0 |
Research and development | 10,338.0 | 9,821.0 | 8,802.0 | 7,715.0 | 6,853.0 | 6,193.0 | 5,804.0 | 5,425.0 |
EBIT | 41,529.0 | 49,382.0 | 46,146.0 | 42,238.0 | 40,348.0 | 93,610.0 | 97,830.0 | 47,875.0 |
EBIT margin | 40.7% | 45.0% | 44.4% | 44.3% | 44.2% | 65.6% | 66.8% | 49.3% |
Pre-tax income | 35,407.0 | 44,545.0 | 40,764.0 | 35,900.0 | 34,536.0 | 30,702.0 | 30,699.0 | 26,675.0 |
Income taxes | 6,276.0 | 8,114.0 | 8,290.0 | 11,459.0 | 9,803.0 | 6,260.0 | 8,954.0 | 8,789.0 |
Tax rate | 17.7% | 18.2% | 20.3% | 31.9% | 28.4% | 20.4% | 29.2% | 32.9% |
Net income | 27,410.0 | 34,642.0 | 30,709.0 | 22,567.0 | 22,834.0 | 22,651.0 | 20,077.0 | 16,557.0 |
Net margin | 26.9% | 31.5% | 29.6% | 23.7% | 25.0% | 15.9% | 13.7% | 17.0% |
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Diluted EPS | $8.88 | $10.72 | $9.00 | $6.31 | $6.19 | $6.00 | $5.29 | $4.34 |
Shares outstanding (diluted) | 3,087.4 | 3,230.4 | 3,414.0 | 3,576.8 | 3,690.0 | 3,773.6 | 3,797.5 | 3,814.9 |
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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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