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 | 6,052 | 5,326 | 9,440 | 11,002 | 8,785 | 9,083 | 15,498 | 18,393 |
Revenue growth | 13.6% | -43.6% | -14.2% | 25.2% | -3.3% | -41.4% | -15.7% | -49.6% |
Cost of goods sold | 18,599 | 18,905 | 20,762 | 21,162 | 20,204 | 20,863 | 11,656 | 12,568 |
Gross profit | -12,547 | -13,579 | -11,322 | -10,160 | -11,419 | -11,780 | 3,842 | 5,825 |
Gross margin | -207.3% | -255.0% | -119.9% | -92.3% | -130.0% | -129.7% | 24.8% | 31.7% |
Selling, general and administrative | 11,258 | 10,132 | 9,573 | 9,068 | 9,143 | 11,089 | 13,165 | 12,034 |
General and administrative | 3,476 | 2,973 | 3,050 | 2,940 | 3,345 | 3,676 | 2,685 | 2,753 |
EBITA | -23,801 | -23,703 | -20,889 | -19,223 | -20,554 | -22,862 | -9,315 | -6,191 |
EBITA margin | -393.3% | -445.0% | -221.3% | -174.7% | -234.0% | -251.7% | -60.1% | -33.7% |
Amortization of intangibles | 4 | 8 | 6 | 5 | 8 | 7 | 8 | 18 |
EBIT | -23,805 | -23,711 | -20,895 | -19,228 | -20,562 | -22,869 | -9,323 | -6,209 |
EBIT margin | -393.3% | -445.2% | -221.3% | -174.8% | -234.1% | -251.8% | -60.2% | -33.8% |
Pre-tax income | -3,258 | -600 | 3,467 | 4,720 | 3,372 | 1,553 | -2,266 | -2,422 |
Income taxes | 4,048 | 1,026 | 801 | 1,295 | 1,361 | 2,781 | 441 | 523 |
Tax rate | | | 23.1% | 27.4% | 40.4% | 179.1% | | |
Net income | -7,293 | -1,650 | 2,669 | 3,419 | 2,024 | -1,255 | -2,710 | -2,944 |
Net margin | -120.5% | -31.0% | 28.3% | 31.1% | 23.0% | -13.8% | -17.5% | -16.0% |
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Diluted EPS | ($2.55) | ($0.63) | $0.99 | $1.32 | $0.77 | ($0.52) | ($1.27) | ($1.64) |
Shares outstanding (diluted) | 2,862 | 2,628 | 2,694 | 2,587 | 2,631 | 2,414 | 2,137 | 1,795 |
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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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