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: 2022 | |||
Consolidated Statements Of Earnings | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net sales | $ 18,449 | 17,108 | 14,351 |
| Cost of sales | 6,871 | 6,140 | 5,294 |
| Gross profit | 11,578 | 10,968 | 9,057 |
| Research, development and engineering expenses | 1,454 | 1,235 | 984 |
| Selling, general and administrative expenses | 6,455 | 6,427 | 5,361 |
| Recall charges, net | (15) | 103 | 17 |
| Amortization of intangible assets | 627 | 619 | 472 |
| Goodwill impairment | 216 | 0 | 0 |
| Total operating expenses | 8,737 | 8,384 | 6,834 |
| Operating income | 2,841 | 2,584 | 2,223 |
| Other income (expense), net | (158) | (303) | (269) |
| Earnings before income taxes | 2,683 | 2,281 | 1,954 |
| Income taxes | 325 | 287 | 355 |
| Net earnings | 2,358 | 1,994 | 1,599 |
| Net earnings per share of common stock: | |||
| Basic net earnings per share of common stock (in dollars per share) | 6.23 | 5.29 | 4.26 |
| Diluted net earnings per share of common stock (in dollars per share) | 6.17 | 5.21 | 4.20 |
| Weighted-average shares outstanding (in millions): | |||
| Basic (in shares) | 378,200 | 377,000 | 375,500 |
| Effect of dilutive employee stock compensation (in shares) | 4,000 | 5,300 | 4,800 |
| Diluted (in shares) | 382,200 | 382,300 | 380,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net earnings | $ 2,358 | 1,994 | 1,599 |
| Other comprehensive income (loss), net of tax | |||
| Marketable securities | (1) | 3 | 0 |
| Pension plans | 186 | 104 | (80) |
| Unrealized gains (losses) on designated hedges | 12 | 50 | (57) |
| Financial statement translation | 113 | 469 | (414) |
| Total other comprehensive income (loss), net of tax | 310 | 626 | (551) |
| Comprehensive income | 2,668 | 2,620 | 1,048 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
STRYKER CORP | |||
Ticker: SYK Fiscal Year: 2022 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating activities | |||
| Net earnings | $ 2,358 | 1,994 | 1,599 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation | 371 | 371 | 340 |
| Amortization of intangible assets | 627 | 619 | 472 |
| Goodwill impairment | 216 | 0 | 0 |
| Asset impairments | 54 | 264 | 215 |
| Share-based compensation | 168 | 171 | 142 |
| Recall charges, net | (15) | 103 | 17 |
| Sale of inventory stepped up to fair value at acquisition | 12 | 266 | 48 |
| Deferred income tax (benefit) expense | 58 | (237) | 48 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (579) | (377) | 354 |
| Inventories | (762) | (189) | 27 |
| Accounts payable | 290 | 329 | 100 |
| Accrued expenses and other liabilities | 328 | 315 | (54) |
| Recall-related payments | (157) | (221) | (17) |
| Income taxes | (238) | (98) | (16) |
| Other, net | (107) | (47) | 2 |
| Net cash provided by operating activities | 2,624 | 3,263 | 3,277 |
| Investing activities | |||
| Acquisitions, net of cash acquired | (2,563) | (339) | (4,222) |
| Purchases of marketable securities | (52) | (49) | (54) |
| Proceeds from sales of marketable securities | 43 | 55 | 61 |
| Purchases of property, plant and equipment | (588) | (525) | (487) |
| Proceeds from settlement of net investment hedges | 197 | 0 | 0 |
| Other investing, net | 39 | (1) | 1 |
| Net cash used in investing activities | (2,924) | (859) | (4,701) |
| Financing activities | |||
| Proceeds and payments on short-term borrowings, net | (375) | (7) | (6) |
| Proceeds from issuance of long-term debt | 1,500 | 5 | 3,292 |
| Payments on long-term debt | (653) | (1,151) | (2,297) |
| Payments of dividends | (1,051) | (950) | (863) |
| Cash paid for taxes from withheld shares | (122) | (114) | (110) |
| Other financing, net | (48) | (148) | (27) |
| Net cash provided by (used in) financing activities | (749) | (2,365) | (11) |
| Effect of exchange rate changes on cash and cash equivalents | (51) | (38) | 41 |
| Change in cash and cash equivalents | (1,100) | 1 | (1,394) |
| Cash and cash equivalents at beginning of year | 2,944 | 2,943 | |
| Cash and cash equivalents at end of year | 1,844 | 2,944 | 2,943 |
| Supplemental cash flow disclosure: | |||
| Cash paid for income taxes, net of refunds | 505 | 622 | 323 |
| Cash paid for interest on debt | 324 | 325 | 304 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
STRYKER CORP | ||
Ticker: SYK Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 1,844 | 2,944 |
| Marketable securities | 84 | 75 |
| Accounts receivable, less allowance of $154 ($167 in 2021) | 3,565 | 3,022 |
| Inventories: | ||
| Materials and supplies | 1,006 | 691 |
| Work in process | 348 | 264 |
| Finished goods | 2,641 | 2,359 |
| Total inventories | 3,995 | 3,314 |
| Prepaid expenses and other current assets | 787 | 662 |
| Total current assets | 10,275 | 10,017 |
| Property, plant and equipment: | ||
| Land, buildings and improvements | 1,739 | 1,656 |
| Machinery and equipment | 4,066 | 3,842 |
| Total property, plant and equipment | 5,805 | 5,498 |
| Less allowance for depreciation | 2,835 | 2,665 |
| Property, plant and equipment, net | 2,970 | 2,833 |
| Goodwill | 14,880 | 12,918 |
| Other intangibles, net | 4,885 | 4,840 |
| Noncurrent deferred income tax assets | 1,410 | 1,760 |
| Other noncurrent assets | 2,464 | 2,263 |
| Total assets | 36,884 | 34,631 |
| Liabilities and shareholders' equity | ||
| Liabilities | ||
| Current liabilities | ||
| Accounts payable | 1,413 | 1,129 |
| Accrued compensation | 1,149 | 1,092 |
| Income taxes | 292 | 192 |
| Dividend payable | 284 | 263 |
| Accrued product liabilities | 230 | 401 |
| Accrued expenses and other liabilities | 1,744 | 1,465 |
| Current maturities of debt | 1,191 | 7 |
| Total current liabilities | 6,303 | 4,549 |
| Long-term debt, excluding current maturities | 11,857 | 12,472 |
| Income taxes | 641 | 913 |
| Other noncurrent liabilities | 1,467 | 1,820 |
| Total liabilities | 20,268 | 19,754 |
| Shareholders' equity | ||
| Common stock, $0.10 par value | 38 | 38 |
| Additional paid-in capital | 2,034 | 1,890 |
| Retained earnings | 14,765 | 13,480 |
| Accumulated other comprehensive loss | (221) | (531) |
| Total shareholders' equity | 16,616 | 14,877 |
| Total liabilities & shareholders' equity | 36,884 | 34,631 |
| Common stock, par value (in dollars per share) | 0.1000 | 0.1000 |
| External Links | |
| STRYKER CORP (SYK) Fiscal Year 2022 | |
| 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 |