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 | 25,554.7 | 20,443.9 | 23,179.4 | 22,785.1 | 21,386.9 | 20,118.5 | 19,284.9 | 17,232.0 |
Revenue growth | 25.0% | -11.8% | 1.7% | 6.5% | 6.3% | 4.3% | 11.9% | 19.0% |
Cost of goods sold | 21,113.9 | 17,259.4 | 19,723.9 | 19,370.2 | 18,164.4 | 17,151.9 | 16,417.4 | 14,652.8 |
Gross profit | 4,440.8 | 3,184.5 | 3,455.5 | 3,414.9 | 3,222.5 | 2,966.6 | 2,867.5 | 2,579.2 |
Gross margin | 17.4% | 15.6% | 14.9% | 15.0% | 15.1% | 14.7% | 14.9% | 15.0% |
Selling, general and administrative | 2,962.9 | 2,364.5 | 2,693.2 | 2,646.3 | 2,516.0 | 2,302.0 | 2,223.0 | 2,008.6 |
EBIT | 1,730.9 | 873.5 | 800.2 | 799.7 | 719.0 | 644.4 | 605.8 | 541.2 |
EBIT margin | 6.8% | 4.3% | 3.5% | 3.5% | 3.4% | 3.2% | 3.1% | 3.1% |
Pre-tax income | 1,607.7 | 707.6 | 591.5 | 604.1 | 548.2 | 508.1 | 491.9 | 457.9 |
Income taxes | 416.3 | 162.7 | 156.7 | 134.3 | -64.8 | 160.7 | 158.0 | 153.1 |
Tax rate | 25.9% | 23.0% | 26.5% | 22.2% | | 31.6% | 32.1% | 33.4% |
Net income | 1,187.8 | 543.6 | 435.8 | 471.0 | 613.3 | 690.3 | 660.0 | 591.5 |
Net margin | 4.6% | 2.7% | 1.9% | 2.1% | 2.9% | 3.4% | 3.4% | 3.4% |
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Diluted EPS | $14.89 | $6.74 | $5.28 | $5.53 | $7.14 | $8.03 | $7.35 | $6.55 |
Shares outstanding (diluted) | 79.7 | 80.6 | 82.5 | 85.2 | 85.9 | 86.0 | 89.8 | 90.4 |
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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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