Financial Summary (All financials)
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 |
Revenues | 179,952 | 120,930 | 69,032 | 111,865 | 86,589 | 75,369 | 63,364 | 72,258 |
Revenue growth | 48.8% | 75.2% | -38.3% | 29.2% | 14.9% | 18.9% | -12.3% | -26.3% |
Cost of goods sold | 151,671 | 110,008 | 65,733 | 99,228 | 77,047 | 67,089 | 56,676 | 55,583 |
Gross profit | 28,281 | 10,922 | 3,299 | 12,637 | 9,542 | 8,280 | 6,688 | 16,675 |
Gross margin | 15.7% | 9.0% | 4.8% | 11.3% | 11.0% | 11.0% | 10.6% | 23.1% |
Selling, general and administrative | 3,597 | 3,258 | 3,378 | 3,753 | 2,682 | 2,148 | 2,032 | 1,967 |
General and administrative | 825 | 721 | 668 | 561 | 406 | 454 | 435 | 391 |
EBITA | 22,440 | 5,088 | -4,389 | 5,971 | 4,989 | 4,324 | 2,331 | 4,924 |
EBITA margin | 12.5% | 4.2% | -6.4% | 5.3% | 5.8% | 5.7% | 3.7% | 6.8% |
Amortization of intangibles | 316 | 330 | | | | | | |
EBIT | 22,124 | 4,758 | -4,389 | 5,971 | 4,989 | 4,324 | 2,331 | 4,924 |
EBIT margin | 12.3% | 3.9% | -6.4% | 5.3% | 5.8% | 5.7% | 3.7% | 6.8% |
Pre-tax income | 20,469 | 2,817 | -13,612 | 3,233 | 3,697 | 3,344 | 1,822 | 4,374 |
Income taxes | 4,491 | 264 | -2,430 | 784 | 764 | -460 | 609 | 1,506 |
Tax rate | 21.9% | 9.4% | 17.9% | 24.2% | 20.7% | | 33.4% | 34.4% |
Earnings from continuing ops | 16,050 | 11,001 | -21,159 | 3,255 | 3,606 | 3,804 | 1,213 | 2,868 |
Earnings from discontinued ops | 0 | 0 | 0 | 0 | 0 | | | |
Net income | 16,050 | 11,001 | -21,159 | 3,255 | 3,606 | 3,804 | 1,213 | 2,868 |
Net margin | 8.9% | 9.1% | -30.7% | 2.9% | 4.2% | 5.0% | 1.9% | 4.0% |
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Diluted EPS | $10.40 | $5.76 | ($32.60) | $1.64 | $2.30 | $2.48 | $2.29 | $5.29 |
Shares outstanding (diluted) | 1,544 | 1,910 | 649 | 1,987 | 1,570 | 1,531 | 530 | 542 |
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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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