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 |
| Revenues | 1,662 | 1,602 | 1,474 | 1,365 | 1,258 | 1,157 | 1,020 |
| Revenue growth | 3.7% | 8.7% | 8.0% | 8.5% | 8.7% | 13.4% | |
| Cost of goods sold | 952 | 818 | 758 | 687 | 686 | 589 | 526 |
| Gross profit | 710 | 784 | 716 | 678 | 572 | 568 | 494 |
| Gross margin | 42.7% | 48.9% | 48.6% | 49.7% | 45.5% | 49.1% | 48.4% |
| Selling, general and administrative | 14 | 0 | 0 | 0 | 0 | 0 | 286 |
| EBITA | 115 | 184 | 165 | 204 | 172 | 226 | 202 |
| EBITA margin | 6.9% | 11.5% | 11.2% | 14.9% | 13.7% | 19.5% | 19.8% |
| Amortization of intangibles | 7 | 11 | 12 | 6 | 8 | 8 | 6 |
| EBIT | 108 | 173 | 153 | 198 | 164 | 218 | 196 |
| EBIT margin | 6.5% | 10.8% | 10.4% | 14.5% | 13.0% | 18.8% | 19.2% |
| Pre-tax income | 93 | 168 | 149 | 204 | 166 | 220 | 196 |
| Income taxes | 22 | 39 | 37 | 51 | 42 | 60 | 71 |
| Tax rate | 23.7% | 23.2% | 24.8% | 25.0% | 25.3% | 27.3% | 36.2% |
| Net income | 71 | 128 | 112 | 153 | 125 | 160 | 124 |
| Net margin | 4.3% | 8.0% | 7.6% | 11.2% | 9.9% | 13.8% | 12.2% |
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| Diluted EPS | $0.87 | $1.50 | $1.31 | $1.80 | $1.48 | $1.89 | $1.47 |
| Shares outstanding (diluted) | 82 | 86 | 86 | 85 | 85 | 85 | 85 |
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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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