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10-Q Filing

STRYKER CORP CIK: 310764 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000310764-19-000071
Period End Date 20190331
Filing Date 20190424
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance syk-20190331.xml
Balance Sheet 81 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $67.00M USD Point-in-time
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $64.00M 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.62B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.67B 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
Marketable securities AvailableForSaleSecuritiesCurrent $84.00M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $83.00M USD Point-in-time
Accounts receivable, less allowance of $67 ($64 in 2018) AccountsReceivableNetCurrent $2.33B USD Point-in-time
Accounts receivable, less allowance of $67 ($64 in 2018) AccountsReceivableNetCurrent $2.28B USD Point-in-time
Materials and supplies InventoryRawMaterialsAndSuppliesNetOfReserves $606.00M USD Point-in-time
Materials and supplies InventoryRawMaterialsAndSuppliesNetOfReserves $608.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $178.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $149.00M USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $2.20B USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $2.28B USD Point-in-time
Total inventories InventoryNet $3.06B USD Point-in-time
Total inventories InventoryNet $2.96B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $747.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $782.00M USD Point-in-time
Total current assets AssetsCurrent $9.73B USD Point-in-time
Total current assets AssetsCurrent $7.89B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovementsGross $1.04B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovementsGross $1.02B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $3.32B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $3.24B USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentGross $4.34B USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentGross $4.28B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.04B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.99B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.29B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.30B USD Point-in-time
Goodwill Goodwill $8.56B USD Point-in-time
Goodwill Goodwill $8.71B USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $4.16B USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $4.24B USD Point-in-time
Noncurrent deferred income tax assets DeferredIncomeTaxAssetsNet $1.63B USD Point-in-time
Noncurrent deferred income tax assets DeferredIncomeTaxAssetsNet $1.68B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.17B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $801.00M USD Point-in-time
Total assets Assets $27.23B USD Point-in-time
Total assets Assets $25.94B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $619.00M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $646.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $531.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $917.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $158.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $154.00M USD Point-in-time
Dividend payable DividendsPayableCurrent $192.00M USD Point-in-time
Dividend payable DividendsPayableCurrent $192.00M USD Point-in-time
Accrued expenses and other liabilities OtherLiabilitiesCurrent $1.70B USD Point-in-time
Accrued expenses and other liabilities OtherLiabilitiesCurrent $1.52B USD Point-in-time
Current maturities of debt DebtCurrent $1.37B USD Point-in-time
Current maturities of debt DebtCurrent $521.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.71B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.81B USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtNoncurrent $8.49B USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtNoncurrent $7.95B USD Point-in-time
Income taxes AccruedIncomeTaxesNoncurrent $1.22B USD Point-in-time
Income taxes AccruedIncomeTaxesNoncurrent $1.23B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.36B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $978.00M USD Point-in-time
Total liabilities Liabilities $15.50B USD Point-in-time
Total liabilities Liabilities $14.24B 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 $1.54B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.56B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $10.77B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $10.68B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-510.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-553.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-565.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-631.00M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.69B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.73B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.22B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $27.23B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $25.94B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $3.24B USD 1 Quarter
Net sales Revenues $3.52B USD 1 Quarter
Cost of sales CostOfRevenue $1.23B USD 1 Quarter
Cost of sales CostOfRevenue $1.10B USD 1 Quarter
Gross profit GrossProfit $2.28B USD 1 Quarter
Gross profit GrossProfit $2.14B USD 1 Quarter
Research, development and engineering expenses ResearchAndDevelopmentExpense $225.00M 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 $1.40B USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $4.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $13.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $114.00M 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 $1.75B USD 1 Quarter
Operating income OperatingIncomeLoss $528.00M USD 1 Quarter
Operating income OperatingIncomeLoss $591.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $-49.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $-48.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $480.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $542.00M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $99.00M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $68.00M USD 1 Quarter
Net earnings NetIncomeLoss $412.00M USD 1 Quarter
Net earnings NetIncomeLoss $443.00M USD 1 Quarter
Basic EarningsPerShareBasic $1.18 USD 1 Quarter
Basic EarningsPerShareBasic $1.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.09 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.16 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 373.30M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 374.00M shares 1 Quarter
Effect of dilutive employee stock options WeightedAverageNumberDilutedSharesOutstandingAdjustment 6.70M shares 1 Quarter
Effect of dilutive employee stock options WeightedAverageNumberDilutedSharesOutstandingAdjustment 6.00M 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 $0.52 USD 1 Quarter
Cash dividends declared per share of common stock (in dollars per share) CommonStockDividendsPerShareDeclared $0.47 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $412.00M USD 1 Quarter
Net earnings NetIncomeLoss $443.00M USD 1 Quarter
Depreciation Depreciation $76.00M USD 1 Quarter
Depreciation Depreciation $74.00M USD 1 Quarter
Amortization of intangible assets AdjustmentForAmortization $102.00M USD 1 Quarter
Amortization of intangible assets AdjustmentForAmortization $114.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $29.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $35.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $4.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $13.00M USD 1 Quarter
Sale of inventory stepped-up to fair value at acquisition SaleOfInventorySteppedUpToFairValueAtAcquisition $24.00M USD 1 Quarter
Sale of inventory stepped-up to fair value at acquisition SaleOfInventorySteppedUpToFairValueAtAcquisition $3.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-139.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-50.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $139.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $144.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $33.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-12.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-306.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-166.00M USD 1 Quarter
Recall-related payments Changeinaccrualforrecallexpenses $-28.00M USD 1 Quarter
Recall-related payments Changeinaccrualforrecallexpenses $-20.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $9.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $48.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $100.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $83.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $297.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $313.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $704.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $180.00M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $20.00M 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 $19.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $122.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $121.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-303.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-849.00M USD 1 Quarter
Proceeds and payments on short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $99.00M USD 1 Quarter
Proceeds and payments on short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-12.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $595.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $1.34B USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Dividends paid PaymentsOfDividends $195.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $176.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $300.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $307.00M USD 1 Quarter
Cash paid for taxes from withheld shares ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-75.00M USD 1 Quarter
Cash paid for taxes from withheld shares ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-97.00M USD 1 Quarter
Payments to purchase noncontrolling interest PaymentsToMinorityShareholders $5.00M USD 1 Quarter
Payments to purchase noncontrolling interest PaymentsToMinorityShareholders - USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $7.00M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $5.00M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-1.95B USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $145.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-5.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $44.00M USD 1 Quarter
Change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.94B USD 1 Quarter
Change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-363.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $3.62B USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.67B 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 $3.62B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.67B 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
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.69B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.73B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.22B USD Point-in-time
Net earnings (loss) NetIncomeLoss $412.00M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $443.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $66.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $43.00M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.69B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.73B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.22B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $412.00M USD 1 Quarter
Net earnings NetIncomeLoss $443.00M USD 1 Quarter
Marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-1.00M USD 1 Quarter
Marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.00M USD 1 Quarter
Pension plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $4.00M USD 1 Quarter
Pension plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $6.00M USD 1 Quarter
Unrealized gains (losses) on designated hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $15.00M USD 1 Quarter
Unrealized gains (losses) on designated hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-16.00M USD 1 Quarter
Financial statement translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $85.00M USD 1 Quarter
Financial statement translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $35.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $66.00M 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 $478.00M USD 1 Quarter

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

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