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 | 9,221.0 | 7,086.0 | 6,202.0 | 5,747.8 | 5,772.4 | 5,575.8 | 5,175.5 | 4,677.9 |
Revenue growth | 30.1% | 14.3% | 7.9% | -0.4% | 3.5% | 7.7% | 10.6% | -5.6% |
Cost of goods sold | 2,350.0 | 1,941.0 | 1,806.0 | 1,748.9 | 1,723.5 | 1,655.2 | 1,594.9 | 1,435.6 |
Gross profit | 6,871.0 | 5,145.0 | 4,396.0 | 3,998.9 | 4,048.8 | 3,920.7 | 3,580.5 | 3,242.3 |
Gross margin | 74.5% | 72.6% | 70.9% | 69.6% | 70.1% | 70.3% | 69.2% | 69.3% |
Sales and marketing | 2,987.0 | 2,184.0 | 1,874.0 | 1,799.8 | 1,863.4 | 1,801.6 | 1,656.7 | 1,472.1 |
EBITA | 1,765.0 | 1,078.0 | 981.0 | 680.9 | 509.4 | 525.2 | 471.2 | 382.4 |
EBITA margin | 19.1% | 15.2% | 15.8% | 11.8% | 8.8% | 9.4% | 9.1% | 8.2% |
Amortization of intangibles | 51.0 | 43.0 | 28.0 | 30.4 | 28.1 | 15.4 | 9.3 | 12.6 |
EBIT | 1,714.0 | 1,035.0 | 953.0 | 650.5 | 481.3 | 509.8 | 461.9 | 369.8 |
EBIT margin | 18.6% | 14.6% | 15.4% | 11.3% | 8.3% | 9.1% | 8.9% | 7.9% |
Pre-tax income | 1,642.0 | 923.0 | 905.0 | 609.5 | 445.3 | 477.6 | 432.8 | 350.6 |
Income taxes | 393.0 | 223.0 | 195.0 | 133.6 | 23.5 | 134.1 | 143.9 | 116.3 |
Tax rate | 23.9% | 24.2% | 21.5% | 21.9% | 5.3% | 28.1% | 33.3% | 33.2% |
Net income | 1,241.0 | 696.0 | 707.0 | 474.5 | 423.0 | 343.0 | 288.1 | 233.5 |
Net margin | 13.5% | 9.8% | 11.4% | 8.3% | 7.3% | 6.2% | 5.6% | 5.0% |
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Diluted EPS | $11.14 | $6.16 | $6.22 | $4.19 | $3.76 | $3.09 | $2.62 | $2.15 |
Shares outstanding (diluted) | 111.4 | 113.0 | 113.7 | 113.3 | 112.4 | 111.2 | 109.8 | 108.7 |
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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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