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: 2017 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net sales | $ 12,444 | 11,325 | 9,946 |
| Cost of sales | 4,271 | 3,830 | 3,344 |
| Gross profit | 8,173 | 7,495 | 6,602 |
| Research, development and engineering expenses | 787 | 715 | 625 |
| Selling, general and administrative expenses | 4,552 | 4,137 | 3,610 |
| Recall charges, net of insurance proceeds | 173 | 158 | 296 |
| Amortization of intangible assets | 371 | 319 | 210 |
| Total operating expenses | 5,883 | 5,329 | 4,741 |
| Operating income | 2,290 | 2,166 | 1,861 |
| Other income (expense), net | (227) | (245) | (126) |
| Earnings before income taxes | 2,063 | 1,921 | 1,735 |
| Income taxes | 1,043 | 274 | 296 |
| Net earnings | 1,020 | 1,647 | 1,439 |
| Net earnings per share of common stock: | |||
| Basic net earnings per share of common stock (in dollars per share) | 2.73 | 4.40 | 3.82 |
| Diluted net earnings per share of common stock (in dollars per share) | 2.68 | 4.35 | 3.78 |
| Weighted-average shares outstanding: | |||
| Basic (in shares) | 374,000 | 374,100 | 376,600 |
| Effect of dilutive employee stock options (in shares) | 6,100 | 4,400 | 4,300 |
| Diluted (in shares) | 380,100 | 378,500 | 380,900 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net earnings | $ 1,020 | 1,647 | 1,439 |
| Other comprehensive income (loss), net of tax | |||
| Marketable securities | (4) | 0 | (3) |
| Pension plans | (2) | (13) | 17 |
| Unrealized gains (losses) on designated hedges | 4 | 20 | (9) |
| Financial statement translation | 210 | (129) | (390) |
| Total other comprehensive income (loss), net of tax | 208 | (122) | (385) |
| Comprehensive income | 1,228 | 1,525 | 1,054 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2017 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating activities | |||
| Net earnings | $ 1,020 | 1,647 | 1,439 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation | 271 | 227 | 187 |
| Amortization of intangible assets | 371 | 319 | 210 |
| Share-based compensation | 113 | 97 | 86 |
| Recall charges | 173 | 158 | 349 |
| Sale of inventory stepped up to fair value at acquisition | 22 | 36 | 7 |
| Deferred income tax benefit (expense) | 36 | (46) | 87 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (162) | (192) | (151) |
| Inventories | (320) | (299) | (115) |
| Accounts payable | 21 | (16) | 35 |
| Accrued expenses and other liabilities | 90 | 241 | 129 |
| Recall-related payments | (526) | (190) | (1,206) |
| Income taxes | 704 | (128) | (238) |
| Other, net | (254) | 61 | 162 |
| Net cash provided by operating activities | 1,559 | 1,915 | 981 |
| Investing activities | |||
| Acquisitions, net of cash acquired | (831) | (4,332) | (153) |
| Purchases of marketable securities | (270) | (151) | (1,715) |
| Proceeds from sales of marketable securities | 87 | 785 | 4,094 |
| Purchases of property, plant and equipment | (598) | (490) | (270) |
| Other investing, net | (1) | (3) | 0 |
| Net cash (used in) provided by investing activities | (1,613) | (4,191) | 1,956 |
| Financing activities | |||
| Proceeds from borrowings | 733 | 1,094 | 1,576 |
| Payments on borrowings | (933) | (1,635) | (2,272) |
| Proceeds from issuance of long-term debt, net | 499 | 3,453 | 744 |
| Dividends paid | (636) | (568) | (521) |
| Repurchase of common stock | (230) | (13) | (700) |
| Cash paid for taxes from withheld shares | (95) | (67) | (56) |
| Payments to purchase noncontrolling interest | (99) | 0 | 0 |
| Other financing, net | (33) | (6) | 6 |
| Net cash (used in) provided by financing activities | (794) | 2,258 | (1,223) |
| Effect of exchange rate changes on cash and cash equivalents | 74 | (45) | (130) |
| Change in cash and cash equivalents | (774) | (63) | 1,584 |
| Cash and cash equivalents at beginning of year | 3,316 | 3,379 | |
| Cash and cash equivalents at end of year | 2,542 | 3,316 | 3,379 |
| Supplemental cash flow disclosure: | |||
| Cash paid for income taxes, net of refunds | 312 | 510 | 497 |
| Cash paid for interest on debt | 264 | 180 | 101 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,542 | 3,316 |
| Marketable securities | 251 | 68 |
| Accounts receivable, less allowance of $59 ($56 in 2016) | 2,198 | 1,967 |
| Inventories: | ||
| Materials and supplies | 528 | 425 |
| Work in process | 148 | 130 |
| Finished goods | 1,789 | 1,475 |
| Total inventories | 2,465 | 2,030 |
| Prepaid expenses and other current assets | 537 | 480 |
| Total current assets | 7,993 | 7,861 |
| Property, plant and equipment: | ||
| Land, buildings and improvements | 936 | 820 |
| Machinery and equipment | 2,864 | 2,341 |
| Total property, plant and equipment | 3,800 | 3,161 |
| Less allowance for depreciation | 1,825 | 1,592 |
| Property, plant and equipment, net | 1,975 | 1,569 |
| Goodwill | 7,168 | 6,356 |
| Other intangibles, net | 3,477 | 3,508 |
| Other noncurrent assets | 1,584 | 1,141 |
| Total assets | 22,197 | 20,435 |
| Liabilities and shareholders' equity | ||
| Liabilities | ||
| Current liabilities | ||
| Accounts payable | 487 | 437 |
| Accrued compensation | 838 | 767 |
| Income taxes | 143 | 40 |
| Dividend payable | 178 | 159 |
| Accrued recall expenses | 196 | 594 |
| Accrued expenses and other liabilities | 1,011 | 923 |
| Current maturities of debt | 632 | 228 |
| Total current liabilities | 3,485 | 3,148 |
| Long-term debt, excluding current maturities | 6,590 | 6,686 |
| Accrued Income Taxes, Noncurrent | 1,261 | 287 |
| Other noncurrent liabilities | 881 | 764 |
| Liabilities | 12,217 | 10,885 |
| Shareholders' equity | ||
| Common stock, $0.10 par value | 37 | 37 |
| Additional paid-in capital | 1,496 | 1,432 |
| Retained earnings | 8,986 | 8,842 |
| Accumulated other comprehensive loss | (553) | (761) |
| Total Stryker shareholders' equity | 9,966 | 9,550 |
| Noncontrolling interest | 14 | 0 |
| Total shareholders' equity | 9,980 | 9,550 |
| Total liabilities & shareholders' equity | 22,197 | 20,435 |
| Equity Components | ||
| Non-controlling interest | ||
| Total shareholders' equity | 14 | 0 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2017 | |
| 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 |