Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 138,639.0 | 121,867.0 | 104,213.0 | 92,105.0 | 90,040.0 | 84,863.0 | 79,156.5 | 73,874.1 |
Revenue growth | 13.8% | 16.9% | 13.1% | 2.3% | 6.1% | 7.2% | 7.2% | 4.0% |
Cost of goods sold | 23,552.0 | 19,337.0 | 4,752.0 | 0.0 | 0.0 | 67,557.0 | 61,760.6 | 57,207.5 |
Gross profit | 115,087.0 | 102,530.0 | 99,461.0 | 92,105.0 | 90,040.0 | 17,306.0 | 17,395.9 | 16,666.6 |
Gross margin | 83.0% | 84.1% | 95.4% | 100.0% | 100.0% | 20.4% | 22.0% | 22.6% |
Selling, general and administrative | 15,914.0 | 17,450.0 | 13,364.0 | 14,020.0 | 12,650.0 | 12,559.0 | | |
Sales and marketing | | | | | | | 1,441.1 | 1,490.1 |
General and administrative | | | | | | | 11,093.7 | 10,258.3 |
EBITA | 16,258.0 | 14,315.0 | 13,275.0 | 12,088.0 | 5,201.0 | 6,086.0 | 6,095.4 | 5,794.4 |
EBITA margin | 11.7% | 11.7% | 12.7% | 13.1% | 5.8% | 7.2% | 7.7% | 7.8% |
Amortization of intangibles | 441.0 | 361.0 | 338.0 | 358.0 | 780.0 | 808.0 | 802.1 | 744.5 |
EBIT | 15,817.0 | 13,954.0 | 12,937.0 | 11,730.0 | 4,421.0 | 5,278.0 | 5,293.3 | 5,049.9 |
EBIT margin | 11.4% | 11.5% | 12.4% | 12.7% | 4.9% | 6.2% | 6.7% | 6.8% |
Pre-tax income | 7,925.0 | 6,238.0 | 5,985.0 | 5,068.0 | 3,964.0 | 4,555.0 | 4,631.0 | 4,368.1 |
Income taxes | 1,830.0 | 1,666.0 | 1,178.0 | 1,318.0 | 121.0 | 2,085.0 | 2,071.0 | 1,808.0 |
Tax rate | 23.1% | 26.7% | 19.7% | 26.0% | 3.1% | 45.8% | 44.7% | 41.4% |
Earnings from continuing ops | 6,104.0 | 4,572.0 | 4,807.0 | 3,750.0 | 3,843.0 | 2,470.0 | 2,560.0 | 2,560.1 |
Earnings from discontinued ops | | | | | | | | 9.6 |
Net income | 6,104.0 | 4,572.0 | 4,807.0 | 3,750.0 | 3,843.0 | 2,470.0 | 2,560.0 | 2,569.7 |
Net margin | 4.4% | 3.8% | 4.6% | 4.1% | 4.3% | 2.9% | 3.2% | 3.5% |
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Diluted EPS | $24.73 | $17.98 | $18.47 | $14.19 | $14.35 | $9.21 | $9.38 | $8.95 |
Shares outstanding (diluted) | 246.8 | 254.3 | 260.3 | 264.2 | 267.8 | 268.1 | 272.9 | 285.9 |
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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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