Financial Summary (All financials)
In millions, except per share items | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 | Dec-31-08 |
Revenues | 10,466.0 | 10,986.0 | 11,420.0 | 13,107.0 | 13,154.0 | 13,390.0 | 15,615.0 | 14,901.0 |
Revenue growth | -4.7% | -3.8% | -12.9% | -0.4% | -1.8% | -14.2% | 4.8% | 6.7% |
Cost of goods sold | 9,576.0 | 9,974.0 | 10,303.0 | 11,799.0 | 11,713.0 | 11,905.0 | 13,959.0 | 13,342.0 |
Gross profit | 890.0 | 1,012.0 | 1,117.0 | 1,308.0 | 1,441.0 | 1,485.0 | 1,656.0 | 1,559.0 |
Gross margin | 8.5% | 9.2% | 9.8% | 10.0% | 11.0% | 11.1% | 10.6% | 10.5% |
Selling, general and administrative | 415.0 | 0.0 | 0.0 | 0.0 | 43.0 | 0.0 | 0.0 | 126.0 |
Research and development | | | | | | | | |
EBITA | 934.0 | 1,061.0 | 1,160.0 | 1,366.0 | 1,504.0 | 1,560.0 | 1,735.0 | 1,893.0 |
EBITA margin | 8.9% | 9.7% | 10.2% | 10.4% | 11.4% | 11.7% | 11.1% | 12.7% |
Amortization of intangibles | 44.0 | 49.0 | 43.0 | 58.0 | 63.0 | 54.0 | 60.0 | 54.0 |
EBIT | 890.0 | 1,012.0 | 1,117.0 | 1,308.0 | 1,441.0 | 1,506.0 | 1,675.0 | 1,839.0 |
EBIT margin | 8.5% | 9.2% | 9.8% | 10.0% | 11.0% | 11.2% | 10.7% | 12.3% |
Pre-tax income | 322.0 | 872.0 | 980.0 | 1,122.0 | 1,162.0 | 1,252.0 | 1,386.0 | 1,423.0 |
Income taxes | 25.0 | 227.0 | 264.0 | 360.0 | 296.0 | 428.0 | 475.0 | 494.0 |
Tax rate | 7.8% | 26.0% | 26.9% | 32.1% | 25.5% | 34.2% | 34.3% | 34.7% |
Earnings from continuing ops | 594.0 | 645.0 | 716.0 | 752.0 | 852.0 | 808.0 | 893.0 | 909.0 |
Earnings from discontinued ops | -522.0 | 32.0 | 44.0 | 32.0 | 104.0 | 142.0 | | 20.0 |
Net income | 72.0 | 677.0 | 760.0 | 784.0 | 956.0 | 950.0 | 893.0 | 929.0 |
Net margin | 0.7% | 6.2% | 6.7% | 6.0% | 7.3% | 7.1% | 5.7% | 6.2% |
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Diluted EPS | $7.25 | $7.35 | $7.86 | $7.70 | $8.07 | $7.02 | $7.61 | $7.43 |
Shares outstanding (diluted) | 81.9 | 87.8 | 91.1 | 97.6 | 105.6 | 115.1 | 117.4 | 122.4 |
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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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