Financial Summary (All financials)
| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 |
| Revenues | 7,504 | 5,675 | 7,277 | 7,442 | 6,824 |
| Revenue growth | 32.2% | -22.0% | -2.2% | 9.1% | |
| Cost of goods sold | 6,573 | 4,862 | 6,332 | 6,527 | 5,866 |
| Gross profit | 931 | 813 | 945 | 915 | 958 |
| Gross margin | 12.4% | 14.3% | 13.0% | 12.3% | 14.0% |
| Selling, general and administrative | 247 | 258 | 346 | 288 | 199 |
| Research and development | 34 | 36 | 45 | 63 | 66 |
| EBITA | 414 | 285 | 312 | 310 | 265 |
| EBITA margin | 5.5% | 5.0% | 4.3% | 4.2% | 3.9% |
| Amortization of intangibles | 17 | 17 | 10 | 18 | |
| EBIT | 397 | 268 | 302 | 292 | 265 |
| EBIT margin | 5.3% | 4.7% | 4.2% | 3.9% | 3.9% |
| Pre-tax income | -459 | -108 | 115 | 263 | 251 |
| Income taxes | -62 | 1 | -62 | 76 | 42 |
| Tax rate | 13.5% | | | 28.9% | 16.7% |
| Net income | -397 | -109 | 177 | 187 | 209 |
| Net margin | -5.3% | -1.9% | 2.4% | 2.5% | 3.1% |
| |
| Diluted EPS | ($3.64) | ($1.00) | $1.62 | $1.72 | |
| Shares outstanding (diluted) | 109 | 109 | 109 | 109 | |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|