10-Q Filing

STRYKER CORP CIK: 310764 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000310764-18-000110`
Period End Date	20180331
Filing Date	20180427
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	syk-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 38 Cash Flow Statement 66 Comprehensive Income 14

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, Allowance for Doubtful Accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.00M	USD	Point-in-time
Accounts receivable, Allowance for Doubtful Accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$65.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.21B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.18B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.54B	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	374.00M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$276.00M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$251.00M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	374.00M	shares	Point-in-time
Accounts receivable, less allowance of $65 ($59 in 2017)	`AccountsReceivableNetCurrent`	$2.20B	USD	Point-in-time
Accounts receivable, less allowance of $65 ($59 in 2017)	`AccountsReceivableNetCurrent`	$2.11B	USD	Point-in-time
Materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$554.00M	USD	Point-in-time
Materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$528.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$171.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$148.00M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$1.79B	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$1.94B	USD	Point-in-time
Total inventories	`InventoryNet`	$2.46B	USD	Point-in-time
Total inventories	`InventoryNet`	$2.66B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$537.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$624.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.85B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.99B	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovementsGross`	$936.00M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovementsGross`	$983.00M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$3.00B	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.86B	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$3.98B	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$3.80B	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.93B	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.82B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.05B	USD	Point-in-time
Goodwill	`Goodwill`	$7.72B	USD	Point-in-time
Goodwill	`Goodwill`	$7.17B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.48B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$3.69B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.58B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$816.00M	USD	Point-in-time
Total assets	`Assets`	$22.20B	USD	Point-in-time
Total assets	`Assets`	$22.13B	USD	Point-in-time
Accounts payable	`AccountsPayableTradeCurrent`	$487.00M	USD	Point-in-time
Accounts payable	`AccountsPayableTradeCurrent`	$529.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$838.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$525.00M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$186.00M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$143.00M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$178.00M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$178.00M	USD	Point-in-time
Accrued recall expenses	`Accrualforrecallexpenses`	$196.00M	USD	Point-in-time
Accrued recall expenses	`Accrualforrecallexpenses`	$165.00M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$1.01B	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$1.23B	USD	Point-in-time
Current maturities of debt	`DebtCurrent`	$1.98B	USD	Point-in-time
Current maturities of debt	`DebtCurrent`	$632.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.48B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.80B	USD	Point-in-time
Long-term debt, excluding current maturities	`LongTermDebtNoncurrent`	$5.92B	USD	Point-in-time
Long-term debt, excluding current maturities	`LongTermDebtNoncurrent`	$6.59B	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesNoncurrent`	$1.26B	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesNoncurrent`	$1.28B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$881.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$912.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.22B	USD	Point-in-time
Total liabilities	`Liabilities`	$12.91B	USD	Point-in-time
Common stock, $0.10 par value:	`CommonStockValueOutstanding`	$37.00M	USD	Point-in-time
Common stock, $0.10 par value:	`CommonStockValueOutstanding`	$37.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.49B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.50B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.99B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.20B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-761.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-510.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-675.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-553.00M	USD	Point-in-time
Total Stryker shareholders' equity	`StockholdersEquity`	$9.97B	USD	Point-in-time
Total Stryker shareholders' equity	`StockholdersEquity`	$9.21B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$14.00M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$9.00M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$9.22B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$9.98B	USD	Point-in-time
Total liabilities & shareholders' equity	`LiabilitiesAndStockholdersEquity`	$22.20B	USD	Point-in-time
Total liabilities & shareholders' equity	`LiabilitiesAndStockholdersEquity`	$22.13B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$2.96B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$3.24B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$991.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.10B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.96B	USD	1 Quarter
Gross profit	`GrossProfit`	$2.14B	USD	1 Quarter
Research, development and engineering expenses	`ResearchAndDevelopmentExpense`	$192.00M	USD	1 Quarter
Research, development and engineering expenses	`ResearchAndDevelopmentExpense`	$204.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.24B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.10B	USD	1 Quarter
Recall charges	`Recallchargesnetofinsuranceproceeds`	$4.00M	USD	1 Quarter
Recall charges	`Recallchargesnetofinsuranceproceeds`	$26.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$88.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$102.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.55B	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.41B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$556.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$591.00M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-57.00M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-49.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$499.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$542.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$55.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$99.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$443.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$444.00M	USD	1 Quarter
Basic net earnings per share of common stock	`EarningsPerShareBasic`	$1.18	USD	1 Quarter
Basic net earnings per share of common stock	`EarningsPerShareBasic`	$1.19	USD	1 Quarter
Diluted net earnings per share of common stock	`EarningsPerShareDiluted`	$1.16	USD	1 Quarter
Diluted net earnings per share of common stock	`EarningsPerShareDiluted`	$1.17	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	373.40M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	374.00M	shares	1 Quarter
Effect of dilutive employee stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	5.90M	shares	1 Quarter
Effect of dilutive employee stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	6.70M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	379.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	380.70M	shares	1 Quarter
Cash dividends declared per share of common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.47	USD	1 Quarter
Cash dividends declared per share of common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.42	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$443.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$444.00M	USD	1 Quarter
Depreciation	`Depreciation`	$74.00M	USD	1 Quarter
Depreciation	`Depreciation`	$62.00M	USD	1 Quarter
Amortization of intangible assets	`AdjustmentForAmortization`	$102.00M	USD	1 Quarter
Amortization of intangible assets	`AdjustmentForAmortization`	$88.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$32.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$29.00M	USD	1 Quarter
Recall charges	`Grossrecallcharges`	$26.00M	USD	1 Quarter
Recall charges	`Grossrecallcharges`	$4.00M	USD	1 Quarter
Sale of inventory stepped-up to fair value at acquisition	`SaleOfInventorySteppedUpToFairValueAtAcquisition`	-	USD	1 Quarter
Sale of inventory stepped-up to fair value at acquisition	`SaleOfInventorySteppedUpToFairValueAtAcquisition`	$3.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-112.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-139.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$114.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$144.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$33.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$23.00M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-306.00M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-323.00M	USD	1 Quarter
Recall-related payments	`Changeinaccrualforrecallexpenses`	$-28.00M	USD	1 Quarter
Recall-related payments	`Changeinaccrualforrecallexpenses`	$-94.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$48.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$100.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$102.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$297.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$151.00M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$9.00M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$704.00M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$12.00M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$77.00M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$53.00M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$14.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$121.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$139.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-849.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-146.00M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromShortTermDebt`	$658.00M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromShortTermDebt`	$952.00M	USD	1 Quarter
Payments on borrowings	`RepaymentsOfShortTermDebt`	$258.00M	USD	1 Quarter
Payments on borrowings	`RepaymentsOfShortTermDebt`	$354.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$176.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$159.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$300.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$230.00M	USD	1 Quarter
Cash paid for taxes from withheld shares	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-75.00M	USD	1 Quarter
Cash paid for taxes from withheld shares	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-52.00M	USD	1 Quarter
Payments to purchase noncontrolling interest	`PaymentsToMinorityShareholders`	-	USD	1 Quarter
Payments to purchase noncontrolling interest	`PaymentsToMinorityShareholders`	$5.00M	USD	1 Quarter
Other financing, net	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Other financing, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$7.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$145.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-137.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$44.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$29.00M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-363.00M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-103.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.21B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.18B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.54B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.21B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.18B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.54B	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$443.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$444.00M	USD	1 Quarter
Marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.00M	USD	1 Quarter
Marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Pension plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$6.00M	USD	1 Quarter
Pension plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$4.00M	USD	1 Quarter
Unrealized gains (losses) on designated hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$15.00M	USD	1 Quarter
Unrealized gains (losses) on designated hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.00M	USD	1 Quarter
Financial statement translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$96.00M	USD	1 Quarter
Financial statement translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.00M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$86.00M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$43.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$486.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$530.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.