Overview Financials News + Filings Key Docs Charts Transactions Holdings Ownership Insiders
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| 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 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Cardiovascular | 7,831 | 7,242 | 5,866 | 4,208 | 3,777 | 3,500 | 3,292 | 2,937 |
| MedSurg | 4,911 | 4,633 | 3,827 | 3,307 | 3,007 | 2,742 | 2,445 | 2,500 |
| Other | | 13 | 220 | 3,220 | 3,039 | 2,806 | 2,649 | 2,040 |
| Total revenues | 12,682 | 11,888 | 9,913 | 10,735 | 9,823 | 9,048 | 8,386 | 7,477 |
| Revenue growth [+] | 6.7% | 19.9% | -7.7% | 9.3% | 8.6% | 7.9% | 12.2% | 1.3% |
| Cardiovascular | 8.1% | 23.5% | 39.4% | 11.4% | 7.9% | 6.3% | 12.1% | -0.5% |
| MedSurg | 6.0% | 21.1% | 15.7% | 10.0% | 9.7% | 12.1% | -2.2% | 6.0% |
| Rhythm Management | | | | | | | | -5.1% |
| Cost of goods sold | 3,956 | 3,711 | 3,465 | 3,116 | 2,813 | 2,593 | 2,424 | 2,173 |
| Gross profit | 8,726 | 8,177 | 6,448 | 7,619 | 7,010 | 6,455 | 5,962 | 5,304 |
| Gross margin | 68.8% | 68.8% | 65.0% | 71.0% | 71.4% | 71.3% | 71.1% | 70.9% |
| Selling, general and administrative | 4,520 | 4,359 | 3,787 | 3,941 | 3,569 | 3,294 | 3,099 | 2,873 |
| Research and development | 1,323 | 1,204 | 1,143 | 1,174 | 1,113 | 997 | 920 | 876 |
| Other operating expenses | 848 | 789 | 375 | 763 | 669 | 538 | 624 | 565 |
| EBITDA [+] | 3,171 | 2,918 | 2,266 | 2,752 | 2,553 | 2,470 | 2,134 | 1,759 |
| EBITDA growth | 8.7% | 28.8% | -17.7% | 7.8% | 3.4% | 15.7% | 21.3% | 2.7% |
| EBITDA margin | 25.0% | 24.5% | 22.9% | 25.6% | 26.0% | 27.3% | 25.4% | 23.5% |
| Depreciation and amortization | 333 | 352 | 334 | 312 | 295 | 279 | 270 | 274 |
| EBITA | 2,838 | 2,566 | 1,932 | 2,440 | 2,258 | 2,191 | 1,864 | 1,485 |
| EBITA margin | 22.4% | 21.6% | 19.5% | 22.7% | 23.0% | 24.2% | 22.2% | 19.9% |
| Amortization of intangibles | 803 | 741 | 789 | 699 | 599 | 565 | 545 | 495 |
| EBIT [+] | 2,035 | 1,825 | 1,143 | 1,741 | 1,659 | 1,626 | 1,319 | 990 |
| EBIT growth | 11.5% | 59.7% | -34.3% | 4.9% | 2.0% | 23.3% | 33.2% | 0.3% |
| EBIT margin | 16.0% | 15.4% | 11.5% | 16.2% | 16.9% | 18.0% | 15.7% | 13.2% |
| Non-recurring items [+] | 386 | 626 | 1,223 | 223 | 153 | 341 | 872 | 1,273 |
| Asset impairment | 132 | 370 | 993 | 105 | 35 | 4 | 11 | 19 |
| Legal settlement | 173 | 430 | 278 | 115 | 103 | 285 | 804 | 1,105 |
| Loss on contingent liability | 35 | -136 | -100 | -35 | -21 | -80 | 29 | 123 |
| Interest expense | 470 | 341 | 361 | 473 | 241 | 229 | 233 | 284 |
| Interest expense | 470 | 341 | 361 | 473 | 241 | 229 | 233 | 284 |
| Other income (expense), net | -38 | 218 | 362 | -358 | 157 | -123 | -37 | -83 |
| Pre-tax income | 1,141 | 1,076 | -79 | 687 | 1,422 | 933 | 177 | -650 |
| Income taxes | 443 | 36 | 2 | -4,013 | -249 | 828 | -170 | -411 |
| Tax rate | 38.8% | 3.3% | | | | 88.7% | | 63.2% |
| Net income | 642 | 985 | -115 | 4,700 | 1,671 | 104 | 347 | -239 |
| Net margin | 5.1% | 8.3% | -1.2% | 43.8% | 17.0% | 1.1% | 4.1% | -3.2% |
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| Basic EPS [+] | $0.45 | $0.69 | ($0.08) | $3.38 | $1.21 | $0.08 | $0.26 | ($0.18) |
| Growth | -35.2% | -953.1% | -102.4% | 179.1% | 1494.0% | -70.3% | -243.4% | 98.3% |
| Diluted EPS [+] | $0.45 | $0.69 | ($0.08) | $3.33 | $1.19 | $0.07 | $0.25 | ($0.18) |
| Growth | -35.1% | -946.3% | -102.4% | 179.4% | 1496.8% | -70.4% | -241.4% | 98.3% |
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| Shares outstanding (basic) [+] | 1,431 | 1,422 | 1,417 | 1,392 | 1,381 | 1,370 | 1,358 | 1,341 |
| Growth | 0.6% | 0.4% | 1.8% | 0.8% | 0.8% | 0.9% | 1.2% | 1.3% |
| Shares outstanding (diluted) [+] | 1,440 | 1,434 | 1,417 | 1,411 | 1,401 | 1,393 | 1,377 | 1,341 |
| Growth | 0.4% | 1.2% | 0.4% | 0.7% | 0.6% | 1.1% | 2.7% | 1.3% |
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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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