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-05-18 | Dec-31-17 | Dec-31-16 |
Revenues | 10,896.0 | 7,242.0 | 3,930.0 | 6,364.0 | 7,124.0 | 7,124.0 | 5,988.0 | 4,782.0 |
Revenue growth | 50.5% | 84.3% | -38.2% | -10.7% | 19.0% | | 25.2% | -12.0% |
Cost of goods sold | 10,485.0 | 7,024.0 | 4,119.0 | 5,662.0 | 7,760.0 | 6,980.0 | 6,995.0 | 4,592.0 |
Gross profit | 411.0 | 218.0 | -189.0 | 702.0 | -636.0 | 144.0 | -1,007.0 | 190.0 |
Gross margin | 3.8% | 3.0% | -4.8% | 11.0% | -8.9% | 2.0% | -16.8% | 4.0% |
Selling, general and administrative | 149.0 | 119.0 | 86.0 | 117.0 | 112.0 | 112.0 | 113.0 | 110.0 |
EBIT | 963.0 | 90.0 | -285.0 | 576.0 | 538.0 | 532.0 | 148.0 | 71.0 |
EBIT margin | 8.8% | 1.2% | -7.3% | 9.1% | 7.6% | 7.5% | 2.5% | 1.5% |
Pre-tax income | 801.0 | 66.0 | -415.0 | 491.0 | 445.0 | 445.0 | 38.0 | -11.0 |
Income taxes | 157.0 | -8.0 | -95.0 | 129.0 | 79.0 | 79.0 | -220.0 | -20.0 |
Tax rate | 19.6% | | 22.9% | 26.3% | 17.8% | 17.8% | | 181.8% |
Net income | 644.0 | 25.0 | -256.0 | 380.0 | 259.0 | 0.0 | 263.0 | 25.0 |
Net margin | 5.9% | 0.3% | -6.5% | 6.0% | 3.6% | 0.0% | 4.4% | 0.5% |
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Diluted EPS | $6.41 | $0.25 | ($2.55) | $3.78 | $2.80 | $0.00 | $3.03 | $0.29 |
Shares outstanding (diluted) | 100.5 | 100.5 | 100.5 | 100.5 | 92.5 | 92.5 | 86.8 | 86.8 |
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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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