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 | 1,921.2 | 1,648.0 | 1,573.9 | 1,444.5 | 1,332.2 | 1,015.5 | 926.9 | 872.0 |
Revenue growth | 16.6% | 4.7% | 9.0% | 8.4% | 31.2% | 9.6% | 6.3% | 6.1% |
Cost of goods sold | 624.5 | 562.0 | 531.8 | 496.8 | 468.7 | 337.7 | 303.6 | 303.5 |
Gross profit | 1,296.7 | 1,086.1 | 1,042.1 | 947.7 | 863.5 | 677.8 | 623.3 | 568.5 |
Gross margin | 67.5% | 65.9% | 66.2% | 65.6% | 64.8% | 66.7% | 67.2% | 65.2% |
Sales and marketing | 536.2 | 445.1 | 441.7 | 412.9 | 361.3 | 268.3 | 225.8 | 231.1 |
Research and development | 271.2 | 218.2 | 193.7 | 183.8 | 181.1 | 141.5 | 128.5 | 123.1 |
General and administrative | 225.4 | 180.7 | 168.0 | 153.3 | 129.1 | 116.6 | 90.3 | 83.4 |
EBITA | 263.9 | 242.0 | 238.7 | 197.6 | 192.0 | 151.4 | 178.6 | 130.9 |
EBITA margin | 13.7% | 14.7% | 15.2% | 13.7% | 14.4% | 14.9% | 19.3% | 15.0% |
Amortization of intangibles | | | | | 41.9 | 17.2 | 12.5 | 19.2 |
EBIT | 263.9 | 242.0 | 238.7 | 197.6 | 150.1 | 134.2 | 166.1 | 111.7 |
EBIT margin | 13.7% | 14.7% | 15.2% | 13.7% | 11.3% | 13.2% | 17.9% | 12.8% |
Pre-tax income | 240.6 | 237.2 | 234.3 | 186.7 | 129.7 | 144.5 | 171.4 | 110.1 |
Income taxes | 41.4 | 40.8 | 48.4 | 27.4 | -13.6 | 21.4 | 30.8 | 9.9 |
Tax rate | 17.2% | 17.2% | 20.6% | 14.7% | | 14.8% | 18.0% | 9.0% |
Earnings from continuing ops | 199.2 | 196.3 | 185.9 | 159.3 | 143.3 | 123.1 | 140.6 | 100.2 |
Earnings from discontinued ops | | | | | | -6.1 | 118.3 | 2.9 |
Net income | 199.2 | 196.3 | 185.9 | 159.3 | 143.3 | 116.9 | 258.8 | 103.1 |
Net margin | 10.4% | 11.9% | 11.8% | 11.0% | 10.8% | 11.5% | 27.9% | 11.8% |
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Diluted EPS | $2.98 | $2.98 | $2.88 | $2.52 | $2.31 | $2.02 | $2.29 | $1.64 |
Shares outstanding (diluted) | 66.9 | 66.0 | 64.7 | 63.3 | 62.1 | 61.0 | 61.3 | 60.9 |
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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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