10-K.Info (Beta Test)
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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 Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
Net sales
$
17,108
14,35114,884
Cost of sales6,1405,2945,188
Gross profit10,9689,0579,696
 
Research, development and engineering expenses1,235984971
Selling, general and administrative expenses6,4275,3615,356
Recall charges10317192
Amortization of intangible assets619472464
Total operating expenses8,3846,8346,983
 
Operating income2,5842,2232,713
 
Other income (expense), net(303)(269)(151)
Earnings before income taxes2,2811,9542,562
 
Income taxes287355479
Net earnings1,9941,5992,083
 
Net earnings per share of common stock:
Basic net earnings per share of common stock (in dollars per share)5.294.265.57
Diluted net earnings per share of common stock (in dollars per share)5.214.205.48
Weighted-average shares outstanding (in millions):
Basic (in shares)377,000375,500374,000
Effect of dilutive employee stock compensation (in shares)5,3004,8005,900
Diluted (in shares)382,300380,300379,900
 
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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 Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
Net earnings
$
1,994
1,5992,083
Other comprehensive income (loss), net of tax
Marketable securities301
Pension plans104(80)(42)
Unrealized gains (losses) on designated hedges50(57)(3)
Financial statement translation469(414)69
Total other comprehensive income (loss), net of tax626(551)25
 
Comprehensive income2,6201,0482,108
 
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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 Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
Operating activities
Net earnings
$
1,994
1,5992,083
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation371340314
Amortization of intangible assets619472464
Asset impairments26421516
Share-based compensation171142127
Recall charges10317192
Sale of inventory stepped up to fair value at acquisition2664867
Deferred income tax (benefit) expense(237)48126
Changes in operating assets and liabilities:
Accounts receivable(377)354(563)
Inventories(189)27(400)
Accounts payable32910063
Accrued expenses and other liabilities315(54)113
Recall-related payments(221)(17)(177)
Income taxes(98)(16)(105)
Other, net(47)2(129)
Net cash provided by operating activities3,2633,2772,191
 
Investing activities
Acquisitions, net of cash acquired(339)(4,222)(802)
Purchases of marketable securities(49)(54)(74)
Proceeds from sales of marketable securities556169
Purchases of property, plant and equipment(525)(487)(649)
Other investing, net(1)11
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 debt53,2922,642
Payments on long-term debt(1,151)(2,297)(1,342)
Payments of dividends(950)(863)(778)
Repurchases of common stock00(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 equivalents1(1,394)721
 
Cash and cash equivalents at beginning of year2,9434,337
Cash and cash equivalents at end of year2,9442,9434,337
 
Supplemental cash flow disclosure:
Cash paid for income taxes, net of refunds622323457
Cash paid for interest on debt325304286
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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 ofAs of
 Dec 31, 2021Dec 31, 2020
Assets
Current assets
Cash and cash equivalents
$
2,944
2,943
Marketable securities7581
Accounts receivable, less allowance of $167 ($131 in 2020)3,0222,701
Inventories:
Materials and supplies691678
Work in process264251
Finished goods2,3592,565
Total inventories3,3143,494
 
Prepaid expenses and other current assets662488
Total current assets10,0179,707
 
Property, plant and equipment:
Land, buildings and improvements1,6561,546
Machinery and equipment3,8423,636
Total property, plant and equipment5,4985,182
 
Less allowance for depreciation2,6652,430
Property, plant and equipment, net2,8332,752
 
Goodwill12,91812,778
Other intangibles, net4,8405,554
Noncurrent deferred income tax assets1,7601,530
Other noncurrent assets2,2632,009
Total assets34,63134,330
 
Liabilities and shareholders' equity
Liabilities
Current liabilities
Accounts payable1,129810
Accrued compensation1,092925
Income taxes192207
Dividend payable263237
Accrued product liabilities401515
Accrued expenses and other liabilities1,4651,586
Current maturities of debt7761
Total current liabilities4,5495,041
 
Long-term debt, excluding current maturities12,47213,230
Income taxes913990
Other noncurrent liabilities1,8201,985
Total liabilities19,75421,246
 
Shareholders' equity
Common stock, $0.10 par value3838
Additional paid-in capital1,8901,741
Retained earnings13,48012,462
Accumulated other comprehensive loss(531)(1,157)
Total shareholders' equity14,87713,084
 
Total liabilities & shareholders' equity34,63134,330
 
Common stock, par value (in dollars per share)0.10000.1000
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