XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net sales      
Total Net sales $ 5,781 $ 5,627 $ 4,448
Cost of sales:      
Total Cost of sales 3,157 2,999 2,445
Gross profit 2,624 2,628 2,003
Operating expenses:      
Selling and marketing 607 587 483
Research and development 570 567 453
General and administrative 375 348 304
Settlement and related costs 372 0 0
Amortization of intangible assets 136 115 78
Acquisition and integration costs 21 25 23
Exit and restructuring costs 14 7 11
Total Operating expenses 2,095 1,649 1,352
Operating income 529 979 651
Other (loss) income, net:      
Foreign exchange loss (3) (5) (18)
Interest income (expense), net 23 (5) (76)
Other (expense) income, net (5) (1) 3
Total Other income (expense), net 15 (11) (91)
Income before income tax 544 968 560
Income tax expense 81 131 56
Net income $ 463 $ 837 $ 504
Basic earnings per share (in USD per share) $ 8.86 $ 15.66 $ 9.43
Diluted earnings per share (in USD per share) $ 8.80 $ 15.52 $ 9.35
Tangible Products      
Net sales      
Total Net sales $ 4,915 $ 4,845 $ 3,813
Cost of sales:      
Total Cost of sales 2,699 2,590 2,065
Services and Software      
Net sales      
Total Net sales 866 782 635
Cost of sales:      
Total Cost of sales $ 458 $ 409 $ 380