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 | 324,162.0 | 287,597.0 | 257,141.0 | 242,155.0 | 226,247.0 | 201,159.0 | 184,840.0 | 157,107.0 |
| Revenue growth | 12.7% | 11.8% | 6.2% | 7.0% | 12.5% | 8.8% | 17.7% | 20.4% |
| Cost of goods sold | 33,703.0 | 31,034.0 | 30,745.0 | 28,117.0 | 73,782.0 | 65,795.0 | 64,310.0 | 16,206.0 |
| Gross profit | 290,459.0 | 256,563.0 | 226,396.0 | 214,038.0 | 152,465.0 | 135,364.0 | 120,530.0 | 140,901.0 |
| Gross margin | 89.6% | 89.2% | 88.0% | 88.4% | 67.4% | 67.3% | 65.2% | 89.7% |
| Selling, general and administrative | 47,782.0 | 42,579.0 | 41,704.0 | 35,193.0 | 34,074.0 | 29,557.0 | 28,401.0 | 24,312.0 |
| EBITA | 29,735.0 | 25,170.0 | 23,505.0 | 20,685.0 | 18,242.0 | 16,105.0 | 13,812.0 | 11,671.0 |
| EBITA margin | 9.2% | 8.8% | 9.1% | 8.5% | 8.1% | 8.0% | 7.5% | 7.4% |
| Amortization of intangibles | 1,300.0 | 1,200.0 | 1,100.0 | 1,000.0 | 898.0 | 896.0 | 882.0 | 650.0 |
| EBIT | 28,435.0 | 23,970.0 | 22,405.0 | 19,685.0 | 17,344.0 | 15,209.0 | 12,930.0 | 11,021.0 |
| EBIT margin | 8.8% | 8.3% | 8.7% | 8.1% | 7.7% | 7.6% | 7.0% | 7.0% |
| Pre-tax income | 26,343.0 | 22,310.0 | 20,742.0 | 17,981.0 | 15,944.0 | 14,023.0 | 11,863.0 | 10,231.0 |
| Income taxes | 5,704.0 | 4,578.0 | 4,973.0 | 3,742.0 | 3,562.0 | 3,200.0 | 4,790.0 | 4,363.0 |
| Tax rate | 21.7% | 20.5% | 24.0% | 20.8% | 22.3% | 22.8% | 40.4% | 42.6% |
| Net income | 20,120.0 | 17,285.0 | 15,403.0 | 13,839.0 | 11,986.0 | 10,558.0 | 7,017.0 | 5,813.0 |
| Net margin | 6.2% | 6.0% | 6.0% | 5.7% | 5.3% | 5.2% | 3.8% | 3.7% |
| |
| Diluted EPS | $21.18 | $18.08 | $16.03 | $14.33 | $12.19 | $10.72 | $7.25 | $6.01 |
| Shares outstanding (diluted) | 950.0 | 956.0 | 961.0 | 966.0 | 983.0 | 985.0 | 968.0 | 967.0 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|