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 | 22,726.4 | 19,893.9 | 8,558.9 | 7,280.4 | 7,724.8 | 7,034.2 | 6,367.3 | 3,564.4 |
Revenue growth | 14.2% | 132.4% | 17.6% | -5.8% | 9.8% | 10.5% | 78.6% | 122.2% |
Cost of goods sold | 14,982.0 | 14,042.9 | 6,336.3 | 5,303.6 | 5,801.8 | 5,306.8 | 4,770.5 | 2,663.0 |
Gross profit | 7,744.4 | 5,851.0 | 2,222.6 | 1,976.8 | 1,922.9 | 1,727.4 | 1,596.7 | 901.5 |
Gross margin | 34.1% | 29.4% | 26.0% | 27.2% | 24.9% | 24.6% | 25.1% | 25.3% |
Selling, general and administrative | 2.0 | 32.4 | 1.1 | 1,584.5 | 1,554.0 | 1,442.3 | 1,360.4 | 810.7 |
EBITA | 8,047.0 | 6,209.1 | 2,244.7 | 408.4 | 392.5 | 307.0 | 258.9 | 102.7 |
EBITA margin | 35.4% | 31.2% | 26.2% | 5.6% | 5.1% | 4.4% | 4.1% | 2.9% |
Amortization of intangibles | 302.6 | 358.1 | 22.1 | 16.1 | 23.5 | 21.9 | 22.6 | 11.9 |
EBIT | 7,744.4 | 5,851.0 | 2,222.6 | 392.3 | 369.0 | 285.1 | 236.3 | 90.8 |
EBIT margin | 34.1% | 29.4% | 26.0% | 5.4% | 4.8% | 4.1% | 3.7% | 2.5% |
Pre-tax income | 3,571.8 | 2,251.5 | 408.2 | 282.8 | 260.8 | 91.9 | 21.7 | -18.4 |
Income taxes | 822.5 | 526.1 | 94.6 | 60.9 | 55.6 | 53.1 | -122.7 | 4.4 |
Tax rate | 23.0% | 23.4% | 23.2% | 21.6% | 21.3% | 57.8% | | |
Net income | 2,749.4 | 1,725.4 | 313.5 | 221.8 | 205.2 | 38.8 | 144.3 | -22.8 |
Net margin | 12.1% | 8.7% | 3.7% | 3.0% | 2.7% | 0.6% | 2.3% | -0.6% |
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Diluted EPS | $16.82 | $8.48 | $2.66 | $1.90 | $1.76 | $0.34 | $1.27 | ($0.22) |
Shares outstanding (diluted) | 163.5 | 203.5 | 117.9 | 117.0 | 116.6 | 115.6 | 113.6 | 103.2 |
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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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