Financial Summary (All financials)
In millions, except per share items | Dec-31-08 | Dec-31-07 | Dec-31-06 | Dec-31-05 | Dec-31-04 | Dec-31-03 | Dec-31-02 | Dec-31-01 |
Revenues | 9,600.6 | 7,832.1 | 6,578.9 | 4,333.2 | 3,131.8 | 2,562.0 | 2,288.4 | 2,328.7 |
Revenue growth | 22.6% | 19.0% | 51.8% | 38.4% | 22.2% | 12.0% | -1.7% | |
Cost of goods sold | 6,242.5 | 5,057.6 | 4,212.8 | 2,949.1 | 1,047.7 | 911.6 | 1,595.6 | 1,526.8 |
Gross profit | 3,358.1 | 2,774.5 | 2,366.1 | 1,384.2 | 2,084.1 | 1,650.5 | 692.9 | 801.9 |
Gross margin | 35.0% | 35.4% | 36.0% | 31.9% | 66.5% | 64.4% | 30.3% | 34.4% |
Research and development | 192.7 | 169.3 | 149.4 | 107.4 | 83.6 | 82.4 | 79.2 | 50.8 |
General and administrative | 187.1 | 130.4 | 115.6 | 77.2 | 55.9 | 42.2 | 44.0 | 39.7 |
EBIT | 2,059.9 | 1,624.3 | 1,354.7 | 570.6 | 398.4 | 271.3 | 63.4 | 409.5 |
EBIT margin | 21.5% | 20.7% | 20.6% | 13.2% | 12.7% | 10.6% | 2.8% | 17.6% |
Pre-tax income | 1,689.9 | 1,444.5 | 1,238.9 | 632.1 | 430.7 | 199.5 | -11.6 | 338.6 |
Income taxes | 288.8 | 332.8 | 321.5 | 161.2 | 92.7 | 51.6 | -5.2 | 123.0 |
Tax rate | 17.1% | 23.0% | 25.9% | 25.5% | 21.5% | 25.9% | 44.7% | 36.3% |
Earnings from continuing ops | 1,366.8 | 1,092.0 | 906.1 | 470.1 | 337.3 | 147.2 | -7.0 | 214.7 |
Earnings from discontinued ops | -12.9 | -21.4 | -9.7 | -2.7 | -7.2 | -3.9 | 0.9 | |
Net income | 1,353.9 | 1,070.6 | 896.4 | 467.4 | 330.1 | 143.4 | -6.0 | 214.7 |
Net margin | 14.1% | 13.7% | 13.6% | 10.8% | 10.5% | 5.6% | -0.3% | 9.2% |
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Diluted EPS | $1.96 | $1.57 | $1.28 | $1.46 | $1.13 | $0.56 | ($0.06) | $1.61 |
Shares outstanding (diluted) | 698.2 | 695.5 | 709.7 | 322.3 | 297.4 | 263.5 | 120.1 | 133.3 |
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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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