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 | 2,356.1 | 2,010.9 | 2,190.3 | 2,289.7 | 2,198.4 | 2,049.5 | 2,140.8 | 2,335.4 |
Revenue growth | 17.2% | -8.2% | -4.3% | 4.2% | 7.3% | -4.3% | -8.3% | 2.4% |
Cost of goods sold | 1,808.4 | 1,415.9 | 1,560.4 | 1,704.3 | 1,562.0 | 1,372.3 | 1,461.8 | 1,670.0 |
Gross profit | 547.7 | 595.0 | 629.9 | 585.4 | 636.4 | 677.2 | 679.1 | 665.4 |
Gross margin | 23.2% | 29.6% | 28.8% | 25.6% | 28.9% | 33.0% | 31.7% | 28.5% |
Selling, general and administrative | 146.0 | 142.9 | 148.1 | 152.4 | 167.7 | 161.6 | 164.1 | 163.5 |
Research and development | 144.0 | 140.4 | 144.5 | 140.3 | 146.0 | 160.8 | 158.3 | 139.2 |
EBITA | 259.9 | 314.7 | 341.3 | 299.7 | 325.7 | 356.8 | 362.7 | 368.7 |
EBITA margin | 11.0% | 15.6% | 15.6% | 13.1% | 14.8% | 17.4% | 16.9% | 15.8% |
Amortization of intangibles | 2.2 | 2.9 | 4.0 | 7.0 | 3.0 | 2.0 | 6.0 | 6.0 |
EBIT | 257.8 | 311.8 | 337.3 | 292.7 | 322.7 | 354.8 | 356.7 | 362.7 |
EBIT margin | 10.9% | 15.5% | 15.4% | 12.8% | 14.7% | 17.3% | 16.7% | 15.5% |
Pre-tax income | 247.6 | 331.3 | 331.6 | 290.3 | 315.4 | 343.2 | 339.0 | 339.1 |
Income taxes | 56.6 | 60.7 | 77.3 | 55.6 | 124.9 | 99.8 | 100.4 | 105.8 |
Tax rate | 22.9% | 18.3% | 23.3% | 19.1% | 39.6% | 29.1% | 29.6% | 31.2% |
Net income | 190.9 | 270.6 | 254.3 | 234.7 | 190.5 | 243.4 | 238.6 | 233.3 |
Net margin | 8.1% | 13.5% | 11.6% | 10.3% | 8.7% | 11.9% | 11.1% | 10.0% |
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Diluted EPS | $17.75 | $24.68 | $22.77 | $20.39 | $16.11 | $20.58 | $19.49 | $18.41 |
Shares outstanding (diluted) | 10.8 | 11.0 | 11.2 | 11.5 | 11.8 | 11.8 | 12.2 | 12.7 |
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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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