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10-K.Info (Beta Test)
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2014

Consolidated Statements Of Earnings

Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015)

(In Millions, except shares in Thousands)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2014Dec 31, 2013Dec 31, 2012
Net sales
$
9,675
9,0218,657
Cost of sales3,2912,9772,781
Gross profit6,3846,0445,876
 
Research, development and engineering expenses614536471
Selling, general and administrative expenses3,5753,4923,367
Recall charges, net of insurance recoveries761622174
Intangible asset amortization188138123
Total operating expenses5,1384,7884,135
 
Operating income1,2461,2561,741
 
Other income (expense), net(86)(44)(36)
Earnings before income taxes1,1601,2121,705
 
Income taxes645206407
Net earnings5151,0061,298
 
Net earnings per share of common stock:
Basic net earnings per share of common stock (in dollars per share)1.362.663.41
Diluted net earnings per share of common stock (in dollars per share)1.342.633.39
Weighted-average shares outstandingin millions:
Basic (in shares)378,500378,600380,600
Net effect of dilutive employee stock options (in shares)4,3003,5002,400
Diluted (in shares)382,800382,100383,000
 
Anti-dilutive shares excluded from the calculation of net effect of dilutive employee stock options (in shares)6,400
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2014

Consolidated Statements of Comprehensive Income

Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2014Dec 31, 2013Dec 31, 2012
Net earnings
$
515
1,0061,298
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Marketable securities3(4)4
Pension plans(55)20(69)
Unrealized gains on designated hedges670
Financial statement translation(440)8050
Total other comprehensive (loss) income, net of tax(486)103(15)
 
Comprehensive income291,1091,283
 
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2014

Consolidated Statements Of Cash Flows

Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2014Dec 31, 2013Dec 31, 2012
Operating activities
Net earnings
$
515
1,0061,298
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation190169154
Amortization of intangible assets188138123
Share-based compensation777675
Gross recall charges940622174
Sale of inventory stepped up to fair value at acquisition272818
Deferred income tax benefit6023(39)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable(89)(89)(20)
Inventories(173)(77)18
Accounts payable131(48)
Accrued expenses and other liabilities92419
Recall related payments(98)(6)(3)
Income taxes133(124)(159)
Other(93)7857
Net cash provided by operating activities1,7821,8861,657
 
Investing activities
Acquisitions, net of cash acquired(916)(2,320)(154)
Purchases of marketable securities(4,365)(4,558)(3,480)
Proceeds from sales of marketable securities3,6364,8563,108
Purchases of property, plant and equipment(233)(195)(210)
Net cash used in investing activities(1,878)(2,217)(736)
 
Financing activities
Proceeds from borrowings1,601369178
Payments on borrowings(1,428)(355)(182)
Proceeds from issuance of long-term debt, net986991
Dividends paid(462)(401)(324)
Repurchase and retirement of common stock(100)(317)(108)
Other financing3213(13)
Net cash provided by (used in) financing activities629300(449)
 
Effect of exchange rate changes on cash and cash equivalents(77)(25)18
Change in cash and cash equivalents456(56)490
 
Cash and cash equivalents at beginning of year1,3391,395
Cash and cash equivalents at end of year1,7951,3391,395
 
Supplemental cash flow disclosure:
Cash paid for income taxes, net of refunds437321599
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STRYKER CORP

Ticker: SYK   Fiscal Year: 2014

Consolidated Balance Sheets

Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2014Dec 31, 2013
ASSETS
Current assets
Cash and cash equivalents
$
1,795
1,339
Marketable securities3,2052,641
Accounts receivable, less allowance of $59 ($72 in 2013)1,5721,518
Inventories
Materials and supplies248227
Work in process8885
Finished goods1,2521,110
Total inventories1,5881,422
 
Deferred income taxes989880
Prepaid expenses and other current assets524535
Total current assets9,6738,335
 
Property, plant and equipment
Land, buildings and improvements678686
Machinery and equipment1,9191,811
Total property, plant and equipment2,5972,497
 
Less accumulated depreciation1,4991,416
Net property, plant and equipment1,0981,081
 
Other assets
Goodwill4,1863,844
Other intangibles, net2,0181,989
Other738494
Total assets17,71315,743
 
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Current liabilities
Accounts payable329314
Accrued compensation597535
Income taxes333131
Dividend payable131115
Accrued recall expenses1,593772
Accrued expenses and other liabilities754765
Current maturities of debt72725
Total current liabilities4,4642,657
 
Long-term debt, excluding current maturities3,2462,739
Other liabilities1,4081,300
Shareholders' equity
Common stock, $0.10 par value: Authorized: 1 billion shares, Outstanding: 378 million shares (378 million in 2013)3838
Additional paid-in capital1,2521,160
Retained earnings7,5597,617
Accumulated other comprehensive income(254)232
Total shareholders' equity8,5959,047
 
Total liabilities & shareholders' equity17,71315,743
 
External Links 
STRYKER CORP (SYK) Fiscal Year 2014
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