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: 2018 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net sales | $ 13,601 | 12,444 | 11,325 |
| Cost of sales | 4,663 | 4,264 | 3,821 |
| Gross profit | 8,938 | 8,180 | 7,504 |
| Research, development and engineering expenses | 862 | 787 | 715 |
| Selling, general and administrative expenses | 5,099 | 4,552 | 4,137 |
| Recall charges, net of insurance proceeds | 23 | 173 | 158 |
| Amortization of intangible assets | 417 | 371 | 319 |
| Total operating expenses | 6,401 | 5,883 | 5,329 |
| Operating income | 2,537 | 2,297 | 2,175 |
| Other income (expense), net | (181) | (234) | (254) |
| Earnings before income taxes | 2,356 | 2,063 | 1,921 |
| Income taxes | (1,197) | 1,043 | 274 |
| Net earnings (loss) | 3,553 | 1,020 | 1,647 |
| Net earnings (loss) per share of common stock: | |||
| Basic net earnings per share of common stock (in dollars per share) | 9.50 | 2.73 | 4.40 |
| Diluted net earnings per share of common stock (in dollars per share) | 9.34 | 2.68 | 4.35 |
| Weighted-average shares outstanding: | |||
| Basic (in shares) | 374,100 | 374,000 | 374,100 |
| Effect of dilutive employee stock options (in shares) | 6,200 | 6,100 | 4,400 |
| Diluted (in shares) | 380,300 | 380,100 | 378,500 |
| Anti-dilutive shares excluded from the calculation of dilutive employee stock options | 0 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net earnings (loss) | $ 3,553 | 1,020 | 1,647 |
| Other comprehensive income (loss), net of tax | |||
| Marketable securities | 0 | (4) | 0 |
| Pension plans | (3) | (2) | (13) |
| Unrealized gains (losses) on designated hedges | 22 | 4 | 20 |
| Financial statement translation | (97) | 210 | (129) |
| Total other comprehensive income (loss), net of tax | (78) | 208 | (122) |
| Comprehensive income | 3,475 | 1,228 | 1,525 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2018 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating activities | |||
| Net earnings (loss) | $ 3,553 | 1,020 | 1,647 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation | 306 | 271 | 227 |
| Amortization of intangible assets | 417 | 371 | 319 |
| Share-based compensation | 119 | 113 | 97 |
| Recall charges, net of insurance proceeds | 23 | 173 | 158 |
| Sale of inventory stepped up to fair value at acquisition | 16 | 22 | 36 |
| Deferred income tax benefit (expense) | (1,582) | 36 | (46) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (60) | (162) | (192) |
| Inventories | (385) | (320) | (299) |
| Accounts payable | 116 | 21 | (16) |
| Accrued expenses and other liabilities | 289 | 90 | 241 |
| Recall-related payments | (90) | (526) | (190) |
| Income taxes | (156) | 704 | (128) |
| Other, net | 44 | (254) | 61 |
| Net cash provided by operating activities | 2,610 | 1,559 | 1,915 |
| Investing activities | |||
| Acquisitions, net of cash acquired | (2,451) | (831) | (4,332) |
| Purchases of marketable securities | (226) | (270) | (151) |
| Proceeds from sales of marketable securities | 394 | 87 | 785 |
| Purchases of property, plant and equipment | (572) | (598) | (490) |
| Other investing, net | (2) | (1) | (3) |
| Net cash used in investing activities | (2,857) | (1,613) | (4,191) |
| Financing activities | |||
| Proceeds and payments on short-term borrowings, net | (1) | (200) | 209 |
| Proceeds from issuance of long-term debt | (3,126) | (499) | (3,453) |
| Payments on long-term debt | (669) | 0 | (750) |
| Dividends paid | (703) | (636) | (568) |
| Repurchase of common stock | (300) | (230) | (13) |
| Cash paid for taxes from withheld shares | (120) | (95) | (67) |
| Payments to purchase noncontrolling interest | (14) | (99) | 0 |
| Other financing, net | 10 | (33) | (6) |
| Net cash provided by (used in) financing activities | 1,329 | (794) | 2,258 |
| Effect of exchange rate changes on cash and cash equivalents | (8) | 74 | (45) |
| Change in cash and cash equivalents | 1,074 | (774) | (63) |
| Cash and cash equivalents at beginning of year | 2,542 | 3,316 | |
| Cash and cash equivalents at end of year | 3,616 | 2,542 | 3,316 |
| Supplemental cash flow disclosure: | |||
| Cash paid for income taxes, net of refunds | 539 | 312 | 510 |
| Cash paid for interest on debt | 248 | 231 | 180 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 3,616 | 2,542 |
| Marketable securities | 83 | 251 |
| Accounts receivable, less allowance of $64 ($59 in 2017) | 2,332 | 2,198 |
| Inventories: | ||
| Materials and supplies | 606 | 528 |
| Work in process | 149 | 148 |
| Finished goods | 2,200 | 1,789 |
| Total inventories | 2,955 | 2,465 |
| Prepaid expenses and other current assets | 747 | 537 |
| Total current assets | 9,733 | 7,993 |
| Property, plant and equipment: | ||
| Land, buildings and improvements | 1,041 | 936 |
| Machinery and equipment | 3,236 | 2,864 |
| Total property, plant and equipment | 4,277 | 3,800 |
| Less allowance for depreciation | 1,986 | 1,825 |
| Property, plant and equipment, net | 2,291 | 1,975 |
| Goodwill | 8,563 | 7,168 |
| Other intangibles, net | 4,163 | 3,477 |
| Noncurrent deferred income tax assets | 1,678 | 283 |
| Other noncurrent assets | 801 | 1,301 |
| Total assets | 27,229 | 22,197 |
| Liabilities and shareholders' equity | ||
| Liabilities | ||
| Current liabilities | ||
| Accounts payable | 646 | 487 |
| Accrued compensation | 917 | 838 |
| Income taxes | 158 | 143 |
| Dividend payable | 192 | 178 |
| Accrued expenses and other liabilities | 1,521 | 1,207 |
| Current maturities of debt | 1,373 | 632 |
| Total current liabilities | 4,807 | 3,485 |
| Long-term debt, excluding current maturities | 8,486 | 6,590 |
| Income taxes | 1,228 | 1,261 |
| Other noncurrent liabilities | 978 | 881 |
| Total liabilities | 15,499 | 12,217 |
| Shareholders' equity | ||
| Common stock, $0.10 par value | 37 | 37 |
| Additional paid-in capital | 1,559 | 1,496 |
| Retained earnings | 10,765 | 8,986 |
| Accumulated other comprehensive loss | (631) | (553) |
| Total Stryker shareholders' equity | 11,730 | 9,966 |
| Noncontrolling interest | 14 | |
| Total shareholders' equity | 11,730 | 9,980 |
| Total liabilities & shareholders' equity | 27,229 | 22,197 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2018 | |
| 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 |