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: 2011 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 13, 2012) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Net sales | $ 8,307 | 7,320 | 6,723 |
| Cost of sales | 2,811 | 2,286 | 2,184 |
| Gross profit | 5,496 | 5,034 | 4,539 |
| Research, development and engineering expenses | 462 | 394 | 336 |
| Selling, general and administrative expenses | 3,150 | 2,707 | 2,506 |
| Intangibles asset amortization | 122 | 58 | 36 |
| Property, plant and equipment impairment | 124 | ||
| Restructuring charges | 76 | 67 | |
| Total operating expenses | 3,810 | 3,283 | 2,945 |
| Operating income | 1,686 | 1,751 | 1,594 |
| Other income (expense) | (22) | 30 | |
| Earnings before income taxes | 1,686 | 1,729 | 1,624 |
| Income taxes | 341 | 456 | 517 |
| Net earnings | 1,345 | 1,273 | 1,107 |
| Net earnings per share of common stock: | |||
| Basic net earnings per share of common stock | 3.48 | 3.21 | 2.79 |
| Diluted net earnings per share of common stock | 3.45 | 3.19 | 2.77 |
| Weighted-average shares outstanding-in millions: | |||
| Basic | 386,500 | 396,400 | 397,400 |
| Employee stock options | 10,800 | 10,600 | 20,100 |
| Less antidilutive stock options | (7,800) | (7,500) | (18,100) |
| Net effect of dilutive employee stock options | 3,000 | 3,100 | 2,000 |
| Diluted | 389,500 | 399,500 | 399,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2011 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 13, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Operating Activities | |||
| Net earnings | $ 1,345 | 1,273 | 1,107 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation | 160 | 165 | 165 |
| Amortization | 321 | 245 | 220 |
| Share-based compensation | 75 | 69 | 62 |
| Restructuring charges | 76 | 67 | |
| Property, plant and equipment impairment | 124 | ||
| Payments of restructuring charges | (29) | (9) | (47) |
| Sale of inventory stepped-up to fair value at acquisition | 143 | 7 | |
| Deferred income tax credit | (164) | (104) | (73) |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (152) | (121) | (10) |
| Inventories | (166) | (131) | 34 |
| Loaner instrumentation | (224) | (193) | (188) |
| Accounts payable | 44 | 96 | (80) |
| Accrued expenses and other liabilities | 158 | 91 | 66 |
| Income taxes | (95) | (24) | 192 |
| Other | (58) | 59 | (54) |
| Net cash provided by operating activities | 1,434 | 1,547 | 1,461 |
| Investing Activities | |||
| Acquisitions, net of cash acquired | (2,066) | (265) | (570) |
| Purchases of marketable securities | (6,779) | (5,619) | (4,602) |
| Proceeds from sales of marketable securities | 6,869 | 5,210 | 3,974 |
| Purchases of property, plant and equipment | (226) | (182) | (131) |
| Proceeds from Sale of Property, Plant and Equipment | 67 | 61 | 1 |
| Net cash used in investing activities | (2,135) | (795) | (1,328) |
| Financing Activities | |||
| Proceeds from borrowings | 178 | 100 | 17 |
| Payments on borrowings | (190) | (81) | (20) |
| Proceeds from issuance of long-term debt, net | 749 | 996 | |
| Dividends paid | (279) | (238) | (198) |
| Repurchase and retirement of common stock | (622) | (426) | |
| Other | 3 | 59 | 8 |
| Net cash provided by (used in) financing activities | (161) | 410 | (193) |
| Effect of exchange rate changes on cash and cash equivalents | 9 | (63) | 18 |
| Increase (decrease) in cash and cash equivalents | (853) | 1,099 | (42) |
| Cash and cash equivalents at beginning of year | 1,758 | 659 | |
| Cash and cash equivalents at end of year | 905 | 1,758 | 659 |
| Supplemental cash flow disclosure: | |||
| Cash paid for income taxes, net of refunds | 574 | 579 | 406 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 13, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets: | ||
| Current Assets | ||
| Cash and cash equivalents | $ 905 | 1,758 |
| Marketable securities | 2,513 | 2,622 |
| Accounts receivable, less allowance of $56 ($57 in 2010) | 1,417 | 1,252 |
| Inventories | ||
| Materials and supplies | 185 | 158 |
| Work in process | 46 | 65 |
| Finished goods | 1,052 | 834 |
| Total inventories | 1,283 | 1,057 |
| Deferred income taxes | 820 | 653 |
| Prepaid expenses and other current assets | 273 | 290 |
| Total current assets | 7,211 | 7,632 |
| Property, Plant and Equipment | ||
| Land, buildings and improvements | 600 | 554 |
| Machinery and equipment | 1,455 | 1,296 |
| Total Property, Plant and Equipment | 2,055 | 1,850 |
| Less allowance for depreciation | 1,167 | 1,052 |
| Net Property, Plant and Equipment | 888 | 798 |
| Other Assets | ||
| Goodwill | 2,072 | 1,072 |
| Other intangibles, less accumulated amortization of $535 ($465 in 2010) | 1,442 | 703 |
| Loaner instrumentation, less accumulated amortization of $795 ($684 in 2010) | 318 | 291 |
| Deferred income taxes | 317 | 248 |
| Other | 157 | 151 |
| Total assets | 12,405 | 10,895 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 345 | 292 |
| Accrued compensation | 444 | 418 |
| Income taxes | 116 | 47 |
| Dividend payable | 81 | 70 |
| Accrued expenses and other liabilities | 825 | 753 |
| Current maturities of long-term debt | 17 | 25 |
| Total current liabilities | 1,828 | 1,605 |
| Long-term debt, excluding current maturities | 1,751 | 996 |
| Other Liabilities | 1,143 | 1,120 |
| Shareholders' Equity | ||
| Common Stock, $0.10 par value: Authorized: 1 billion shares, Outstanding: 381 million shares (391 million in 2010) | 38 | 39 |
| Additional paid-in capital | 1,022 | 964 |
| Retained earnings | 6,479 | 6,017 |
| Accumulated other comprehensive gain | 144 | 154 |
| Total shareholders' equity | 7,683 | 7,174 |
| Total liabilities & shareholders' equity | 12,405 | 10,895 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2011 | |
| 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 |