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STRYKER CORP

Ticker: SYK   Fiscal Year: 2012

Consolidated Statements Of Earnings

Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013)

(In Millions, except shares in Thousands)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2012Dec 31, 2011Dec 31, 2010
Net sales
$
8,657
8,3077,320
Cost of sales2,7812,8112,286
Gross profit5,8765,4965,034
 
Research, development and engineering expenses471462394
Selling, general and administrative expenses3,4663,1502,707
Intangible asset amortization12312258
Property, plant and equipment impairment124
Restructuring charges7576
Total operating expenses4,1353,8103,283
 
Operating income1,7411,6861,751
 
Other income (expense), net(36)(22)
Earnings before income taxes1,7051,6861,729
 
Income taxes407341456
Net earnings1,2981,3451,273
 
Net earnings per share of common stock:
Basic net earnings per share of common stock3.413.483.21
Diluted net earnings per share of common stock3.393.453.19
Weighted-average shares outstandingin millions:
Basic380,600386,500396,400
Net effect of dilutive employee stock options2,4003,0003,100
Diluted383,000389,500399,500
 
Anti-dilutive shares excluded from the calculation of net effect of dilutive employee stock options6,4007,8007,500
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2012

Consolidated Statements of Comprehensive Income

Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2012Dec 31, 2011Dec 31, 2010
Net earnings
$
1,298
1,3451,273
Unrealized gains (losses) on securities, net of income tax benefit (expense) [($1) in 2012, $1 in 2011, $0 in 2010)]4(2)(2)
Unfunded pension gains (losses), net of income tax benefit (expense) [$25 in 2012, $8 in 2011, $14 in 2010](69)12(21)
Foreign currency translation adjustments50(20)(81)
Total other comprehensive loss(15)(10)(104)
 
Comprehensive income1,2831,3351,169
 
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2012

Consolidated Statements Of Cash Flows

Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2012Dec 31, 2011Dec 31, 2010
Operating activities
Net earnings
$
1,298
1,3451,273
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation154160165
Intangibles amortization12312258
Share-based compensation757569
Restructuring charges7576
Property, plant and equipment impairment124
Sale of inventory stepped up to fair value at acquisition181437
Deferred income tax credit(39)(164)(104)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable(20)(152)(121)
Inventories18(166)(131)
Accounts payable(48)4496
Accrued expenses and other liabilities18015891
Income taxes(159)(95)(24)
Other(18)(112)44
Net cash provided by operating activities1,6571,4341,547
 
Investing activities
Acquisitions, net of cash acquired(154)(2,066)(265)
Purchases of marketable securities(3,480)(6,779)(5,619)
Proceeds from sales of marketable securities3,1086,8695,210
Purchases of property, plant and equipment(210)(226)(182)
Proceeds from sales of property, plant and equipment6761
Net cash used in investing activities(736)(2,135)(795)
 
Financing activities
Proceeds from borrowings178178100
Payments on borrowings(182)(190)(81)
Proceeds from issuance of long-term debt, net749996
Dividends paid(324)(279)(238)
Repurchase and retirement of common stock(108)(622)(426)
Other(13)359
Net cash (used in) provided by financing activities(449)(161)410
 
Effect of exchange rate changes on cash and cash equivalents189(63)
Change in cash and cash equivalents490(853)1,099
 
Cash and cash equivalents at beginning of year9051,758
Cash and cash equivalents at end of year1,3959051,758
 
Supplemental cash flow disclosure:
Cash paid for income taxes, net of refunds599574579
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2012

Consolidated Balance Sheets

Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2012Dec 31, 2011
Assets:
Current assets
Cash and cash equivalents
$
1,395
905
Marketable securities2,8902,513
Accounts receivable, less allowance of $58 ($56 in 2011)1,4301,417
Inventories
Materials and supplies202185
Work in process7146
Finished goods9921,052
Total inventories1,2651,283
 
Deferred income taxes811777
Prepaid expenses and other current assets357312
Total current assets8,1487,207
 
Property, plant and equipment
Land, buildings and improvements625600
Machinery and equipment1,6071,455
Total property, plant and equipment2,2322,055
 
Less allowance for depreciation1,2841,167
Net property, plant and equipment948888
 
Other assets
Goodwill2,1422,072
Other intangibles, net1,4241,442
Other544537
Total assets13,20612,146
 
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable288345
Accrued compensation467444
Income taxes70155
Dividend payable10181
Accrued expenses and other liabilities934798
Current maturities of debt1617
Total current liabilities1,8761,840
 
Long-term debt, excluding current maturities1,7461,751
Other liabilities987872
Shareholders' equity
Common stock, $0.10 par value: Authorized: 1 billion shares, Outstanding: 380 million shares (381 million in 2011)3838
Additional paid-in capital1,0981,022
Retained earnings7,3326,479
Accumulated other comprehensive income129144
Total shareholders' equity8,5977,683
 
Total liabilities & shareholders' equity13,20612,146
 
External Links 
STRYKER CORP (SYK) Fiscal Year 2012
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