10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2009 | |||
Statement Of Income | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Net sales | $ 6,723,100 | 6,718,200 | 6,000,500 |
| Cost of sales | 2,183,700 | 2,131,400 | 1,865,200 |
| Gross profit | 4,539,400 | 4,586,800 | 4,135,300 |
| Research, development and engineering expenses | 336,200 | 367,800 | 375,300 |
| Selling, general and administrative expenses | 2,506,300 | 2,625,100 | 2,391,500 |
| Intangible asset amortization | 35,500 | 40,000 | 41,400 |
| Restructuring charges | 67,000 | 34,900 | 0 |
| Intangible asset impairment | 0 | 0 | 19,800 |
| Total operating expenses | 2,945,000 | 3,067,800 | 2,828,000 |
| Operating income | 1,594,400 | 1,519,000 | 1,307,300 |
| Other income (expense) | 29,500 | 61,200 | 62,800 |
| Earnings from continuing operations before income taxes | 1,623,900 | 1,580,200 | 1,370,100 |
| Income taxes | 516,500 | 432,400 | 383,400 |
| Net earnings from continuing operations | 1,107,400 | 1,147,800 | 986,700 |
| Net earnings from discontinued operations | 0 | 0 | 5,000 |
| Net gain on sale of discontinued operations | 0 | 0 | 25,700 |
| Net earnings | 1,107,400 | 1,147,800 | 1,017,400 |
| Basic net earnings per share of common stock: | |||
| Net earnings from continuing operations | 2.79 | 2.81 | 2.41 |
| Net earnings from discontinued operations | 0.00 | 0.00 | 0.01 |
| Net gain on sale of discontinued operations | 0.00 | 0.00 | 0.06 |
| Basic net earnings per share of common stock | 2.79 | 2.81 | 2.48 |
| Diluted net earnings per share of common stock: | |||
| Net earnings from continuing operations | 2.77 | 2.78 | 2.37 |
| Net earnings from discontinued operations | 0.00 | 0.00 | 0.01 |
| Net gain on sale of discontinued operations | 0.00 | 0.00 | 0.06 |
| Diluted net earnings per share of common stock | 2.77 | 2.78 | 2.44 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2009 | |||
Statement Of Cash Flows Indirect | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Operating Activities | |||
| Net earnings | $ 1,107,400 | 1,147,800 | 1,017,400 |
| Less: Net earnings from discontinued operations | 0 | 0 | (5,000) |
| Less: Net gain on sale of discontinued operations | 0 | 0 | (25,700) |
| Net earnings from continuing operations | 1,107,400 | 1,147,800 | 986,700 |
| Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities: | |||
| Depreciation | 165,200 | 155,400 | 137,100 |
| Amortization | 220,100 | 232,200 | 229,500 |
| Share-based compensation | 62,300 | 65,500 | 61,300 |
| Income tax benefit from exercise of stock options | 12,700 | 44,600 | 53,300 |
| Excess income tax benefit from exercise of stock options | (6,900) | (33,700) | (43,500) |
| Restructuring charges | 67,000 | 34,900 | 0 |
| Payments of restructuring charges | (47,400) | (500) | 0 |
| Intangible asset impairment | 0 | 0 | 19,800 |
| Provision for losses on accounts receivable | 27,900 | 10,400 | 7,300 |
| Deferred income tax credit | (72,700) | (17,600) | (147,100) |
| Other | 10,000 | 200 | 8,200 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (9,800) | (131,200) | (133,500) |
| Inventories | 33,700 | (180,200) | (89,900) |
| Loaner instrumentation | (188,600) | (181,800) | (184,900) |
| Accounts payable | (80,500) | 10,400 | 11,100 |
| Accrued expenses and other liabilities | 66,100 | 54,800 | 20,400 |
| Income taxes | 192,000 | (29,100) | 83,500 |
| Other | (97,800) | (6,200) | 18,900 |
| Net cash used in discontinued operations | 0 | 0 | (9,900) |
| Net cash provided by operating activities | 1,460,700 | 1,175,900 | 1,028,300 |
| Investing Activities | |||
| Acquisitions, net of cash acquired | (570,200) | (14,200) | (54,800) |
| Proceeds from sale of discontinued operations, net of cash divested | 0 | 0 | 144,700 |
| Purchases of marketable securities | (4,602,100) | (16,832,300) | (14,851,900) |
| Proceeds from sales of marketable securities | 3,973,700 | 17,303,200 | 13,772,400 |
| Purchases of property, plant and equipment | (131,300) | (155,200) | (187,700) |
| Proceeds from sales of property, plant and equipment | 1,500 | 8,600 | 700 |
| Net cash used by discontinued operations | 0 | 0 | (1,600) |
| Net cash provided by (used in) investing activities | (1,328,400) | 310,100 | (1,178,200) |
| Financing Activities | |||
| Proceeds from borrowings | 16,900 | 26,000 | 103,700 |
| Payments on borrowings | (19,600) | (19,300) | (102,900) |
| Dividends paid | (198,400) | (135,600) | (89,700) |
| Proceeds from exercise of stock options | 6,300 | 50,100 | 69,500 |
| Excess income tax benefit from exercise of stock options | 6,900 | 33,700 | 43,500 |
| Repurchase and retirement of common stock | 0 | (1,000,000) | 0 |
| Other | (5,400) | (1,000) | (10,500) |
| Net cash provided by (used in) financing activities | (193,300) | (1,046,100) | 13,600 |
| Effect of exchange rate changes on cash and cash equivalents | 18,600 | (29,300) | 10,200 |
| Increase (decrease) in cash and cash equivalents | (42,400) | 410,600 | (126,100) |
| Cash and cash equivalents at beginning of year | 701,100 | 290,500 | |
| Cash and cash equivalents at end of year | 658,700 | 701,100 | 290,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2009 | ||
Statement Of Financial Position Classified | ||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2009 | Dec 31, 2008 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 658,700 | 701,100 |
| Marketable securities | 2,296,100 | 1,494,500 |
| Accounts receivable, less allowance of $66.3 ($44.5 in 2008) | 1,147,100 | 1,129,500 |
| Inventories | 943,000 | 952,700 |
| Deferred income taxes | 602,200 | 521,900 |
| Prepaid expenses and other current assets | 204,100 | 179,600 |
| Total current assets | 5,851,200 | 4,979,300 |
| Property, Plant and Equipment | ||
| Land, buildings and improvements | 693,400 | 686,700 |
| Machinery and equipment | 1,270,300 | 1,184,300 |
| Total Property, Plant and Equipment | 1,963,700 | 1,871,000 |
| Less allowance for depreciation | 1,016,100 | 907,200 |
| Net Property, Plant and Equipment | 947,600 | 963,800 |
| Other Assets | ||
| Goodwill | 956,800 | 567,500 |
| Other intangibles, less accumulated amortization of $421.0 ($383.8 in 2008) | 634,700 | 368,000 |
| Loaner instrumentation, less accumulated amortization of $771.3 ($708.3 in 2008) | 285,400 | 275,200 |
| Deferred income taxes | 258,900 | 212,200 |
| Other | 136,700 | 237,300 |
| Total assets | 9,071,300 | 7,603,300 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 200,200 | 274,300 |
| Accrued compensation | 354,100 | 336,800 |
| Income taxes | 134,700 | 30,000 |
| Dividend payable | 59,700 | 158,600 |
| Accrued expenses and other liabilities | 674,300 | 641,900 |
| Current maturities of long-term debt | 18,000 | 20,500 |
| Total current liabilities | 1,441,000 | 1,462,100 |
| Other Liabilities | 1,035,200 | 734,500 |
| Shareholders' Equity | ||
| Common stock, $0.10 par value: Authorized-1,000.0 shares, Outstanding -397.9 shares (396.4 in 2008) | 39,800 | 39,600 |
| Additional paid-in capital | 899,900 | 812,800 |
| Retained earnings | 5,397,400 | 4,389,500 |
| Accumulated other comprehensive gain | 258,000 | 164,800 |
| Total shareholders' equity | 6,595,100 | 5,406,700 |
| Total liabilities & shareholders' equity | 9,071,300 | 7,603,300 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |