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: 2010 | |||
CONSOLIDATED STATEMENTS OF EARNINGS | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Net sales | $ 7,320,000 | 6,723,100 | 6,718,200 |
| Cost of sales | 2,285,700 | 2,183,700 | 2,131,400 |
| Gross profit | 5,034,300 | 4,539,400 | 4,586,800 |
| Research, development and engineering expenses | 393,900 | 336,200 | 367,800 |
| Selling, general and administrative expenses | 2,707,300 | 2,506,300 | 2,625,100 |
| Intangible asset amortization | 58,200 | 35,500 | 40,000 |
| Property, plant and equipment impairment | 123,500 | ||
| Restructuring charges | 67,000 | 34,900 | |
| Total operating expenses | 3,282,900 | 2,945,000 | 3,067,800 |
| Operating income | 1,751,400 | 1,594,400 | 1,519,000 |
| Other income (expense) | (21,800) | 29,500 | 61,200 |
| Earnings before income taxes | 1,729,600 | 1,623,900 | 1,580,200 |
| Income taxes | 456,200 | 516,500 | 432,400 |
| Net earnings | 1,273,400 | 1,107,400 | 1,147,800 |
| Net earnings per share of common stock: | |||
| Basic net earnings per share of common stock | 3.21 | 2.79 | 2.81 |
| Diluted net earnings per share of common stock | 3.19 | 2.77 | 2.78 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Operating Activities | |||
| Net earnings | $ 1,273,400 | 1,107,400 | 1,147,800 |
| Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities: | |||
| Depreciation | 164,600 | 165,200 | 155,400 |
| Amortization | 245,600 | 220,100 | 232,200 |
| Share-based compensation | 68,800 | 62,300 | 65,500 |
| Income tax benefit from exercise of stock options | 24,500 | 12,700 | 44,600 |
| Excess income tax benefit from exercise of stock options | (11,200) | (6,900) | (33,700) |
| Restructuring charges | 67,000 | 34,900 | |
| Property, plant and equipment impairment | 123,500 | ||
| Payments of restructuring charges | (8,700) | (47,400) | (500) |
| (Gain) loss on sale of property, plant and equipment | (23,000) | 2,900 | (1,700) |
| Provision for losses on accounts receivable | 18,600 | 27,900 | 10,400 |
| Deferred income tax credit | (103,800) | (72,700) | (17,600) |
| Other | 5,900 | 7,100 | 1,900 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (121,400) | (9,800) | (131,200) |
| Inventories | (131,200) | 33,700 | (180,200) |
| Loaner instrumentation | (192,600) | (188,600) | (181,800) |
| Accounts payable | 95,900 | (80,500) | 10,400 |
| Accrued expenses and other liabilities | 91,100 | 66,100 | 54,800 |
| Income taxes | (23,900) | 192,000 | (29,100) |
| Other | 51,300 | (97,800) | (6,200) |
| Net cash provided by operating activities | 1,547,400 | 1,460,700 | 1,175,900 |
| Investing Activities | |||
| Acquisitions, net of cash acquired | (265,400) | (570,200) | (14,200) |
| Purchases of marketable securities | (5,619,000) | (4,602,100) | (16,832,300) |
| Proceeds from sales of marketable securities | 5,210,100 | 3,973,700 | 17,303,200 |
| Purchases of property, plant and equipment | (182,100) | (131,300) | (155,200) |
| Proceeds from sales of property, plant and equipment | 60,900 | 1,500 | 8,600 |
| Net cash provided by (used in) investing activities | (795,500) | (1,328,400) | 310,100 |
| Financing Activities | |||
| Proceeds from borrowings | 100,100 | 16,900 | 26,000 |
| Payments on borrowings | (80,800) | (19,600) | (19,300) |
| Proceeds from issuance of long-term debt, net | 996,100 | ||
| Issuance cost of long-term debt | (10,500) | ||
| Dividends paid | (238,300) | (198,400) | (135,600) |
| Proceeds from exercise of stock options | 3,600 | 6,300 | 50,100 |
| Excess income tax benefit from exercise of stock options | 11,200 | 6,900 | 33,700 |
| Repurchase and retirement of common stock | (425,500) | (1,000,000) | |
| Other | 54,200 | (5,400) | (1,000) |
| Net cash provided by (used in) financing activities | 410,100 | (193,300) | (1,046,100) |
| Effect of exchange rate changes on cash and cash equivalents | (63,100) | 18,600 | (29,300) |
| Increase (decrease) in cash and cash equivalents | 1,098,900 | (42,400) | 410,600 |
| Cash and cash equivalents at beginning of year | 658,700 | 701,100 | |
| Cash and cash equivalents at end of year | 1,757,600 | 658,700 | 701,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2010 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,757,600 | 658,700 |
| Marketable securities | 2,622,500 | 2,296,100 |
| Accounts receivable, less allowance of $57.0 ($66.3 in 2009) | 1,251,900 | 1,147,100 |
| Inventories | 1,056,800 | 943,000 |
| Deferred income taxes | 653,200 | 602,200 |
| Prepaid expenses and other current assets | 289,400 | 204,100 |
| Total current assets | 7,631,400 | 5,851,200 |
| Property, Plant and Equipment | ||
| Land, buildings and improvements | 553,800 | 693,400 |
| Machinery and equipment | 1,296,100 | 1,270,300 |
| Total Property, Plant and Equipment | 1,849,900 | 1,963,700 |
| Less allowance for depreciation | 1,051,600 | 1,016,100 |
| Net Property, Plant and Equipment | 798,300 | 947,600 |
| Other Assets | ||
| Goodwill | 1,072,300 | 956,800 |
| Other intangibles, less accumulated amortization of $465.3 ($421.0 in 2009) | 703,000 | 634,700 |
| Loaner instrumentation, less accumulated amortization of $684.1 ($771.3 in 2009) | 290,500 | 285,400 |
| Deferred income taxes | 248,300 | 258,900 |
| Other | 151,300 | 136,700 |
| Total assets | 10,895,100 | 9,071,300 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 291,700 | 200,200 |
| Accrued compensation | 417,500 | 354,100 |
| Income taxes | 47,400 | 134,700 |
| Dividend payable | 70,400 | 59,700 |
| Accrued expenses and other liabilities | 752,700 | 674,300 |
| Current maturities of long-term debt | 25,300 | 18,000 |
| Total current liabilities | 1,605,000 | 1,441,000 |
| Long-Term Debt, excluding current maturities | 996,500 | |
| Other Liabilities | 1,120,000 | 1,035,200 |
| Shareholders' Equity | ||
| Common stock, $0.10 par value: Authorized-1,000.0 shares, Outstanding -391.1 shares (397.9 in 2009) | 39,100 | 39,800 |
| Additional paid-in capital | 964,100 | 899,900 |
| Retained earnings | 6,016,900 | 5,397,400 |
| Accumulated other comprehensive gain | 153,500 | 258,000 |
| Total shareholders' equity | 7,173,600 | 6,595,100 |
| Total liabilities & shareholders' equity | 10,895,100 | 9,071,300 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2010 | |
| 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 |