Financial Summary (All financials)
| In millions, except per share items | Dec-31-04 | Dec-31-03 | Dec-31-02 |
| Revenues | 10,477 | 9,252 | 8,453 |
| Revenue growth | 13.2% | 9.5% | |
| Cost of goods sold | 4,264 | 3,897 | 3,686 |
| Gross profit | 6,213 | 5,355 | 4,767 |
| Gross margin | 59.3% | 57.9% | 56.4% |
| Selling, general and administrative | 3,748 | 3,352 | 2,997 |
| EBIT | 2,455 | 2,030 | 1,861 |
| EBIT margin | 23.4% | 21.9% | 22.0% |
| Pre-tax income | 2,384 | 1,964 | 1,752 |
| Income taxes | 693 | 589 | 543 |
| Tax rate | 29.1% | 30.0% | 31.0% |
| Earnings from continuing ops | 1,691 | 1,375 | 1,209 |
| Earnings from discontinued ops | | 10 | 7 |
| Net income | 1,691 | 1,385 | 1,216 |
| Net margin | 16.1% | 15.0% | 14.4% |
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| Diluted EPS | $1.69 | $1.35 | $1.15 |
| Shares outstanding (diluted) | 999 | 1,021 | 1,055 |
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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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