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: 2020 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 11, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net sales | $ 14,351 | 14,884 | 13,601 |
| Cost of sales | 5,294 | 5,188 | 4,663 |
| Gross profit | 9,057 | 9,696 | 8,938 |
| Research, development and engineering expenses | 984 | 971 | 862 |
| Selling, general and administrative expenses | 5,361 | 5,356 | 5,099 |
| Recall charges | 17 | 192 | 23 |
| Amortization of intangible assets | 472 | 464 | 417 |
| Total operating expenses | 6,834 | 6,983 | 6,401 |
| Operating income | 2,223 | 2,713 | 2,537 |
| Other income (expense), net | (269) | (151) | (181) |
| Earnings before income taxes | 1,954 | 2,562 | 2,356 |
| Income taxes | 355 | 479 | (1,197) |
| Net earnings | 1,599 | 2,083 | 3,553 |
| Net earnings per share of common stock: | |||
| Basic net earnings per share of common stock (in dollars per share) | 4.26 | 5.57 | 9.50 |
| Diluted net earnings per share of common stock (in dollars per share) | 4.20 | 5.48 | 9.34 |
| Weighted-average shares outstanding (in millions): | |||
| Basic (in shares) | 375,500 | 374,000 | 374,100 |
| Effect of dilutive employee stock compensation (in shares) | 4,800 | 5,900 | 6,200 |
| Diluted (in shares) | 380,300 | 379,900 | 380,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 11, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net earnings | $ 1,599 | 2,083 | 3,553 |
| Other comprehensive income (loss), net of tax | |||
| Marketable securities | 0 | 1 | 0 |
| Pension plans | (80) | (42) | (3) |
| Unrealized gains (losses) on designated hedges | (57) | (3) | 22 |
| Financial statement translation | (414) | 69 | (97) |
| Total other comprehensive income (loss), net of tax | (551) | 25 | (78) |
| Comprehensive income | 1,048 | 2,108 | 3,475 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2020 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 11, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating activities | |||
| Net earnings | $ 1,599 | 2,083 | 3,553 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation | 340 | 314 | 306 |
| Amortization of intangible assets | 472 | 464 | 417 |
| Asset impairments | 215 | 16 | 14 |
| Share-based compensation | 142 | 127 | 119 |
| Recall charges | 17 | 192 | 23 |
| Sale of inventory stepped up to fair value at acquisition | 48 | 67 | 16 |
| Deferred income tax (benefit) expense | 48 | 126 | (1,582) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 354 | (563) | (60) |
| Inventories | 27 | (400) | (385) |
| Accounts payable | 100 | 63 | 116 |
| Accrued expenses and other liabilities | (54) | 113 | 289 |
| Recall-related payments | (17) | (177) | (90) |
| Income taxes | (16) | (105) | (156) |
| Other, net | 2 | (129) | 30 |
| Net cash provided by operating activities | 3,277 | 2,191 | 2,610 |
| Investing activities | |||
| Acquisitions, net of cash acquired | (4,222) | (802) | (2,451) |
| Purchases of marketable securities | (54) | (74) | (226) |
| Proceeds from sales of marketable securities | 61 | 69 | 394 |
| Purchases of property, plant and equipment | (487) | (649) | (572) |
| Other investing, net | 1 | 1 | (2) |
| Net cash used in investing activities | (4,701) | (1,455) | (2,857) |
| Financing activities | |||
| Proceeds and payments on short-term borrowings, net | (6) | (7) | (1) |
| Proceeds from issuance of long-term debt | 3,292 | 2,642 | 3,126 |
| Payments on long-term debt | (2,297) | (1,342) | (669) |
| Dividends paid | (863) | (778) | (703) |
| Repurchases of common stock | 0 | (307) | (300) |
| Cash paid for taxes from withheld shares | (110) | (136) | (120) |
| Payments to purchase noncontrolling interest | 0 | 0 | (14) |
| Other financing, net | (27) | (69) | 10 |
| Net cash provided by (used in) financing activities | (11) | 3 | 1,329 |
| Effect of exchange rate changes on cash and cash equivalents | 41 | (18) | (8) |
| Change in cash and cash equivalents | (1,394) | 721 | 1,074 |
| Cash and cash equivalents at beginning of year | 4,337 | 3,616 | |
| Cash and cash equivalents at end of year | 2,943 | 4,337 | 3,616 |
| Supplemental cash flow disclosure: | |||
| Cash paid for income taxes, net of refunds | 323 | 457 | 539 |
| Cash paid for interest on debt | 304 | 286 | 248 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 11, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 2,943 | 4,337 |
| Marketable securities | 81 | 88 |
| Accounts receivable, less allowance of $131 ($88 in 2019) | 2,701 | 2,893 |
| Inventories: | ||
| Materials and supplies | 678 | 677 |
| Work in process | 251 | 178 |
| Finished goods | 2,565 | 2,125 |
| Total inventories | 3,494 | 2,980 |
| Prepaid expenses and other current assets | 488 | 760 |
| Total current assets | 9,707 | 11,058 |
| Property, plant and equipment: | ||
| Land, buildings and improvements | 1,546 | 1,263 |
| Machinery and equipment | 3,636 | 3,451 |
| Total property, plant and equipment | 5,182 | 4,714 |
| Less allowance for depreciation | 2,430 | 2,147 |
| Property, plant and equipment, net | 2,752 | 2,567 |
| Goodwill | 12,778 | 9,069 |
| Other intangibles, net | 5,554 | 4,227 |
| Noncurrent deferred income tax assets | 1,530 | 1,575 |
| Other noncurrent assets | 2,009 | 1,671 |
| Total assets | 34,330 | 30,167 |
| Liabilities and shareholders' equity | ||
| Liabilities | ||
| Current liabilities | ||
| Accounts payable | 810 | 675 |
| Accrued compensation | 925 | 955 |
| Income taxes | 207 | 171 |
| Dividend payable | 237 | 213 |
| Accrued product liabilities | 515 | 331 |
| Accrued expenses and other liabilities | 1,586 | 1,196 |
| Current maturities of debt | 761 | 859 |
| Total current liabilities | 5,041 | 4,400 |
| Long-term debt, excluding current maturities | 13,230 | 10,231 |
| Income taxes | 990 | 1,068 |
| Other noncurrent liabilities | 1,985 | 1,661 |
| Total liabilities | 21,246 | 17,360 |
| Shareholders' equity | ||
| Common stock, $0.10 par value | 38 | 37 |
| Additional paid-in capital | 1,741 | 1,628 |
| Retained earnings | 12,462 | 11,748 |
| Accumulated other comprehensive loss | (1,157) | (606) |
| Total shareholders' equity | 13,084 | 12,807 |
| Total liabilities & shareholders' equity | 34,330 | 30,167 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2020 | |
| 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 |