Financial Summary (All financials)
| In millions, except per share items | Dec-31-08 | Dec-31-07 | Dec-31-06 | Dec-31-05 | Dec-31-04 | Dec-31-03 |
| Revenues | 6,124 | 6,365 | 6,363 | 6,254 | 6,139 | 6,159 |
| Revenue growth | -3.8% | 0.0% | 1.7% | 1.9% | -0.3% | |
| Cost of goods sold | 2,053 | 2,196 | 2,192 | 2,049 | 1,883 | 2,406 |
| Gross profit | 4,071 | 4,169 | 4,171 | 4,205 | 4,256 | 3,753 |
| Gross margin | 66.5% | 65.5% | 65.6% | 67.2% | 69.3% | 60.9% |
| Selling, general and administrative | 1,435 | 1,608 | 1,600 | 1,594 | 1,694 | 1,389 |
| EBIT | 1,633 | 1,504 | 1,544 | 1,632 | 1,590 | 1,641 |
| EBIT margin | 26.7% | 23.6% | 24.3% | 26.1% | 25.9% | 26.6% |
| Pre-tax income | 1,232 | 1,075 | 1,234 | 1,472 | 1,486 | 1,489 |
| Income taxes | 463 | 392 | 450 | 578 | 569 | 569 |
| Tax rate | 37.6% | 36.5% | 36.5% | 39.3% | 38.3% | 38.2% |
| Earnings from continuing ops | 769 | 683 | 784 | 878 | 917 | 920 |
| Earnings from discontinued ops | | | | | | 376 |
| Net income | 769 | 683 | 784 | 878 | 917 | 1,554 |
| Net margin | 12.6% | 10.7% | 12.3% | 14.0% | 14.9% | 25.2% |
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| Diluted EPS | $5.22 | $4.44 | $5.21 | | | |
| Shares outstanding (diluted) | 147 | 154 | 150 | | | |
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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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