The following information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2021:

Year ended	12/31/2021
Net sales	$	7,999
Cost of goods sold		4,817
Selling and administrative expense		1,959
Interest expense		466
Income before taxes		757
Net income		508

	12/31/2021				12/31/2020
Cash and cash equivalents	$	1,025			$	69
Receivables, net		1,060				714
Inventories		1,105				569
Land, buildings and equipment at cost, net		13,550				3,894
Total assets	$	16,740			$	5,246
Total current liabilities	$	5,797			$	2,259
Long-term debt		5,641				2,271
Total liabilities	$	11,438			$	4,530
Total stockholders' equity	$	5,302			$	716

Compute the profit margin on sales for 2021. (Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%.)