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 | 6,160.7 | 5,414.0 | 4,729.9 | 4,739.1 | 4,244.3 | 3,965.6 | 3,818.7 | 3,539.6 |
| Revenue growth | 13.8% | 14.5% | -0.2% | 11.7% | 7.0% | 3.8% | 7.9% | 19.7% |
| Cost of goods sold | 4,737.4 | 4,065.6 | 3,477.1 | 3,560.1 | 3,277.7 | 2,993.7 | 2,907.0 | 3,084.1 |
| Gross profit | 1,423.3 | 1,348.4 | 1,252.8 | 1,179.0 | 966.6 | 971.9 | 911.7 | 455.5 |
| Gross margin | 23.1% | 24.9% | 26.5% | 24.9% | 22.8% | 24.5% | 23.9% | 12.9% |
| Selling, general and administrative | 0.0 | 0.0 | 0.0 | 302.7 | 280.6 | 262.1 | 241.6 | 210.8 |
| Research and development | | | | | | | | |
| EBITA | 1,106.0 | 864.6 | 904.8 | 898.4 | 718.1 | 723.2 | 692.1 | 514.5 |
| EBITA margin | 18.0% | 16.0% | 19.1% | 19.0% | 16.9% | 18.2% | 18.1% | 14.5% |
| Amortization of intangibles | 26.6 | 24.0 | 13.4 | 13.0 | 13.9 | 14.2 | 13.9 | 14.0 |
| EBIT | 1,079.4 | 840.6 | 891.4 | 885.4 | 704.2 | 709.0 | 678.2 | 500.5 |
| EBIT margin | 17.5% | 15.5% | 18.8% | 18.7% | 16.6% | 17.9% | 17.8% | 14.1% |
| Pre-tax income | 1,091.1 | 855.5 | 889.3 | 748.3 | 576.1 | 618.9 | 607.0 | 413.8 |
| Income taxes | 234.8 | 153.2 | 168.2 | 136.3 | 105.7 | -94.5 | 181.6 | 124.9 |
| Tax rate | 21.5% | 17.9% | 18.9% | 18.2% | 18.3% | | 29.9% | 30.2% |
| Earnings from continuing ops | 856.3 | 702.0 | 721.0 | 611.9 | 470.0 | 713.3 | 425.4 | 288.8 |
| Earnings from discontinued ops | 10.5 | 0.5 | | | | | | |
| Net income | 866.8 | 702.5 | 721.0 | 611.9 | 470.0 | 713.3 | 425.4 | 288.8 |
| Net margin | 14.1% | 13.0% | 15.2% | 12.9% | 11.1% | 18.0% | 11.1% | 8.2% |
| |
| Diluted EPS | $13.70 | $11.21 | $11.55 | $9.76 | $7.45 | $11.29 | $6.66 | $4.31 |
| Shares outstanding (diluted) | 62.5 | 62.6 | 62.4 | 62.7 | 63.1 | 63.2 | 63.9 | 67.0 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|