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: 2021 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
(In Millions, except shares in Thousands) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
Net sales | $ 17,108 | 14,351 | 14,884 |
Cost of sales | 6,140 | 5,294 | 5,188 |
Gross profit | 10,968 | 9,057 | 9,696 |
Research, development and engineering expenses | 1,235 | 984 | 971 |
Selling, general and administrative expenses | 6,427 | 5,361 | 5,356 |
Recall charges | 103 | 17 | 192 |
Amortization of intangible assets | 619 | 472 | 464 |
Total operating expenses | 8,384 | 6,834 | 6,983 |
Operating income | 2,584 | 2,223 | 2,713 |
Other income (expense), net | (303) | (269) | (151) |
Earnings before income taxes | 2,281 | 1,954 | 2,562 |
Income taxes | 287 | 355 | 479 |
Net earnings | 1,994 | 1,599 | 2,083 |
Net earnings per share of common stock: | |||
Basic net earnings per share of common stock (in dollars per share) | 5.29 | 4.26 | 5.57 |
Diluted net earnings per share of common stock (in dollars per share) | 5.21 | 4.20 | 5.48 |
Weighted-average shares outstanding (in millions): | |||
Basic (in shares) | 377,000 | 375,500 | 374,000 |
Effect of dilutive employee stock compensation (in shares) | 5,300 | 4,800 | 5,900 |
Diluted (in shares) | 382,300 | 380,300 | 379,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
Net earnings | $ 1,994 | 1,599 | 2,083 |
Other comprehensive income (loss), net of tax | |||
Marketable securities | 3 | 0 | 1 |
Pension plans | 104 | (80) | (42) |
Unrealized gains (losses) on designated hedges | 50 | (57) | (3) |
Financial statement translation | 469 | (414) | 69 |
Total other comprehensive income (loss), net of tax | 626 | (551) | 25 |
Comprehensive income | 2,620 | 1,048 | 2,108 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2021 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
Operating activities | |||
Net earnings | $ 1,994 | 1,599 | 2,083 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation | 371 | 340 | 314 |
Amortization of intangible assets | 619 | 472 | 464 |
Asset impairments | 264 | 215 | 16 |
Share-based compensation | 171 | 142 | 127 |
Recall charges | 103 | 17 | 192 |
Sale of inventory stepped up to fair value at acquisition | 266 | 48 | 67 |
Deferred income tax (benefit) expense | (237) | 48 | 126 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (377) | 354 | (563) |
Inventories | (189) | 27 | (400) |
Accounts payable | 329 | 100 | 63 |
Accrued expenses and other liabilities | 315 | (54) | 113 |
Recall-related payments | (221) | (17) | (177) |
Income taxes | (98) | (16) | (105) |
Other, net | (47) | 2 | (129) |
Net cash provided by operating activities | 3,263 | 3,277 | 2,191 |
Investing activities | |||
Acquisitions, net of cash acquired | (339) | (4,222) | (802) |
Purchases of marketable securities | (49) | (54) | (74) |
Proceeds from sales of marketable securities | 55 | 61 | 69 |
Purchases of property, plant and equipment | (525) | (487) | (649) |
Other investing, net | (1) | 1 | 1 |
Net cash used in investing activities | (859) | (4,701) | (1,455) |
Financing activities | |||
Proceeds and payments on short-term borrowings, net | (7) | (6) | (7) |
Proceeds from issuance of long-term debt | 5 | 3,292 | 2,642 |
Payments on long-term debt | (1,151) | (2,297) | (1,342) |
Payments of dividends | (950) | (863) | (778) |
Repurchases of common stock | 0 | 0 | (307) |
Cash paid for taxes from withheld shares | (114) | (110) | (136) |
Other financing, net | (148) | (27) | (69) |
Net cash provided by (used in) financing activities | (2,365) | (11) | 3 |
Effect of exchange rate changes on cash and cash equivalents | (38) | 41 | (18) |
Change in cash and cash equivalents | 1 | (1,394) | 721 |
Cash and cash equivalents at beginning of year | 2,943 | 4,337 | |
Cash and cash equivalents at end of year | 2,944 | 2,943 | 4,337 |
Supplemental cash flow disclosure: | |||
Cash paid for income taxes, net of refunds | 622 | 323 | 457 |
Cash paid for interest on debt | 325 | 304 | 286 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | ||
(In Millions, except shares in actual) | ||
As of | As of | |
Dec 31, 2021 | Dec 31, 2020 | |
Assets | ||
Current assets | ||
Cash and cash equivalents | $ 2,944 | 2,943 |
Marketable securities | 75 | 81 |
Accounts receivable, less allowance of $167 ($131 in 2020) | 3,022 | 2,701 |
Inventories: | ||
Materials and supplies | 691 | 678 |
Work in process | 264 | 251 |
Finished goods | 2,359 | 2,565 |
Total inventories | 3,314 | 3,494 |
Prepaid expenses and other current assets | 662 | 488 |
Total current assets | 10,017 | 9,707 |
Property, plant and equipment: | ||
Land, buildings and improvements | 1,656 | 1,546 |
Machinery and equipment | 3,842 | 3,636 |
Total property, plant and equipment | 5,498 | 5,182 |
Less allowance for depreciation | 2,665 | 2,430 |
Property, plant and equipment, net | 2,833 | 2,752 |
Goodwill | 12,918 | 12,778 |
Other intangibles, net | 4,840 | 5,554 |
Noncurrent deferred income tax assets | 1,760 | 1,530 |
Other noncurrent assets | 2,263 | 2,009 |
Total assets | 34,631 | 34,330 |
Liabilities and shareholders' equity | ||
Liabilities | ||
Current liabilities | ||
Accounts payable | 1,129 | 810 |
Accrued compensation | 1,092 | 925 |
Income taxes | 192 | 207 |
Dividend payable | 263 | 237 |
Accrued product liabilities | 401 | 515 |
Accrued expenses and other liabilities | 1,465 | 1,586 |
Current maturities of debt | 7 | 761 |
Total current liabilities | 4,549 | 5,041 |
Long-term debt, excluding current maturities | 12,472 | 13,230 |
Income taxes | 913 | 990 |
Other noncurrent liabilities | 1,820 | 1,985 |
Total liabilities | 19,754 | 21,246 |
Shareholders' equity | ||
Common stock, $0.10 par value | 38 | 38 |
Additional paid-in capital | 1,890 | 1,741 |
Retained earnings | 13,480 | 12,462 |
Accumulated other comprehensive loss | (531) | (1,157) |
Total shareholders' equity | 14,877 | 13,084 |
Total liabilities & shareholders' equity | 34,631 | 34,330 |
Common stock, par value (in dollars per share) | 0.1000 | 0.1000 |
External Links | |
STRYKER CORP (SYK) Fiscal Year 2021 | |
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 |