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 | 34,229 | 35,355 | 32,184 | 32,136 | 32,765 | 31,657 | 30,109 | 30,274 |
| Revenue growth | -3.2% | 9.9% | 0.1% | -1.9% | 3.5% | 5.1% | -0.5% | -4.9% |
| Cost of goods sold | 0 | 18,795 | 16,605 | 17,136 | 16,682 | 16,055 | 15,118 | 15,383 |
| Gross profit | 34,229 | 16,560 | 15,579 | 15,000 | 16,083 | 15,602 | 14,991 | 14,891 |
| Gross margin | 100.0% | 46.8% | 48.4% | 46.7% | 49.1% | 49.3% | 49.8% | 49.2% |
| Selling, general and administrative | 9,049 | 7,197 | 6,929 | 7,029 | 7,602 | 6,626 | 6,311 | 6,229 |
| Research and development | 1,862 | 1,994 | 1,878 | 1,911 | 1,821 | 1,870 | 1,764 | 1,763 |
| EBITA | 6,539 | 7,908 | 7,693 | 6,353 | 7,456 | 7,930 | 7,289 | 7,175 |
| EBITA margin | 19.1% | 22.4% | 23.9% | 19.8% | 22.8% | 25.0% | 24.2% | 23.7% |
| Amortization of intangibles | | 529 | 537 | 341 | 249 | 238 | 262 | 229 |
| EBIT | 6,539 | 7,379 | 7,156 | 6,012 | 7,207 | 7,692 | 7,027 | 6,946 |
| EBIT margin | 19.1% | 20.9% | 22.2% | 18.7% | 22.0% | 24.3% | 23.3% | 22.9% |
| Pre-tax income | 6,392 | 7,204 | 6,795 | 5,643 | 7,000 | 7,548 | 7,053 | 6,823 |
| Income taxes | 612 | 1,285 | 1,337 | 1,114 | 1,637 | 2,679 | 1,995 | 1,982 |
| Tax rate | 9.6% | 17.8% | 19.7% | 19.7% | 23.4% | 35.5% | 28.3% | 29.0% |
| Net income | 5,791 | 5,921 | 10,907 | 4,517 | 5,349 | 4,858 | 5,050 | 4,833 |
| Net margin | 16.9% | 16.7% | 33.9% | 14.1% | 16.3% | 15.3% | 16.8% | 16.0% |
| |
| Diluted EPS | | $10.12 | $18.73 | $7.72 | $8.89 | $7.93 | $8.16 | $7.58 |
| Shares outstanding (diluted) | | 585 | 582 | 585 | 602 | 613 | 619 | 637 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|