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 | 1,325 | 5,289 | 6,098 | 5,802 | 5,386 | 4,886 | 4,522 | 4,660 |
Revenue growth | -74.9% | -13.3% | 5.1% | 7.7% | 10.2% | 8.0% | -3.0% | 10.7% |
Cost of goods sold | 2,465 | 2,454 | 2,359 | 2,213 | 2,085 | 2,021 | 1,955 | 2,004 |
Gross profit | -1,140 | 2,835 | 3,739 | 3,589 | 3,301 | 2,865 | 2,567 | 2,656 |
Gross margin | -86.0% | 53.6% | 61.3% | 61.9% | 61.3% | 58.6% | 56.8% | 57.0% |
Selling, general and administrative | 1,205 | 1,118 | 1,012 | 911 | 847 | 640 | 628 | |
General and administrative | 595 | 553 | 498 | 447 | 404 | 377 | 371 | 420 |
EBITA | -2,634 | 1,409 | 2,374 | 2,419 | 2,154 | 1,984 | 1,304 | 1,986 |
EBITA margin | -198.8% | 26.6% | 38.9% | 41.7% | 40.0% | 40.6% | 28.8% | 42.6% |
Amortization of intangibles | 11 | 11 | 11 | 3 | | | | |
EBIT | -2,645 | 1,398 | 2,363 | 2,416 | 2,154 | 1,984 | 1,304 | 1,986 |
EBIT margin | -199.6% | 26.4% | 38.8% | 41.6% | 40.0% | 40.6% | 28.8% | 42.6% |
Pre-tax income | 2,977 | 1,298 | 2,251 | 2,183 | 1,912 | 1,534 | 1,263 | 1,268 |
Income taxes | 658 | 241 | 460 | 462 | 260 | 489 | 423 | 403 |
Tax rate | 22.1% | 18.6% | 20.4% | 21.2% | 13.6% | 31.9% | 33.5% | 31.8% |
Net income | 2,206 | 950 | 1,718 | 1,692 | 1,638 | 1,031 | 833 | 865 |
Net margin | 166.5% | 18.0% | 28.2% | 29.2% | 30.4% | 21.1% | 18.4% | 18.6% |
|
Diluted EPS | $5.16 | $2.22 | $3.81 | $3.52 | $3.25 | $1.97 | $1.55 | $1.55 |
Shares outstanding (diluted) | 427 | 428 | 451 | 480 | 504 | 524 | 538 | 558 |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|