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 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 70,934.0 | 57,033.0 | 64,807.0 | 62,992.0 | 59,689.0 | 58,779.0 | 57,119.0 | 54,105.0 |
Revenue growth | 24.4% | -12.0% | 2.9% | 5.5% | 1.5% | 2.9% | 5.6% | 30.5% |
Cost of goods sold | 40,318.0 | 34,556.0 | 40,506.0 | 42,987.0 | 41,287.0 | 41,295.0 | 38,438.0 | 40,539.0 |
Gross profit | 30,616.0 | 22,477.0 | 24,301.0 | 20,005.0 | 18,402.0 | 17,484.0 | 18,681.0 | 13,566.0 |
Gross margin | 43.2% | 39.4% | 37.5% | 31.8% | 30.8% | 29.7% | 32.7% | 25.1% |
Selling, general and administrative | | | | | | | | |
General and administrative | 13,582.0 | 13,913.0 | 13,416.0 | 11,949.0 | 11,915.0 | 11,779.0 | 10,912.0 | 11,807.0 |
EBIT | 10,275.0 | -489.0 | 4,922.0 | 4,668.0 | 6,382.0 | 5,474.0 | 7,377.0 | 1,356.0 |
EBIT margin | 14.5% | -0.9% | 7.6% | 7.4% | 10.7% | 9.3% | 12.9% | 2.5% |
Pre-tax income | 9,381.0 | -323.0 | 5,085.0 | 4,834.0 | 6,487.0 | 5,705.0 | 7,769.0 | 1,759.0 |
Income taxes | 1,674.0 | -81.0 | 947.0 | 822.0 | -1,438.0 | 1,335.0 | 2,072.0 | 349.0 |
Tax rate | 17.8% | 25.1% | 18.6% | 17.0% | | 23.4% | 26.7% | 19.8% |
Earnings from continuing ops | 7,724.0 | -374.0 | 4,186.0 | 4,074.0 | 7,863.0 | 4,368.0 | 5,642.0 | 1,369.0 |
Earnings from discontinued ops | | | | | | | | 12.0 |
Net income | 7,724.0 | -374.0 | 4,186.0 | 4,074.0 | 7,863.0 | 4,368.0 | 5,642.0 | 1,381.0 |
Net margin | 10.9% | -0.7% | 6.5% | 6.5% | 13.2% | 7.4% | 9.9% | 2.6% |
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Diluted EPS | $19.80 | ($0.94) | $10.19 | $9.56 | $18.03 | $9.78 | $12.25 | $3.20 |
Shares outstanding (diluted) | 390.1 | 395.8 | 410.9 | 426.2 | 436.0 | 446.6 | 460.4 | 427.6 |
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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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