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10-Q Filing

STRYKER CORP CIK: 310764 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000310764-20-000069
Period End Date 20200331
Filing Date 20200501
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance syk10q3312020_htm.xml
Balance Sheet 79 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $100.00M USD Point-in-time
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $88.00M 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 $4.34B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.96B USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $88.00M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $84.00M USD Point-in-time
Accounts receivable, less allowance of $100 ($88 in 2019) AccountsReceivableNetCurrent $2.89B USD Point-in-time
Accounts receivable, less allowance of $100 ($88 in 2019) AccountsReceivableNetCurrent $2.65B USD Point-in-time
Materials and supplies InventoryRawMaterialsAndSuppliesNetOfReserves $738.00M USD Point-in-time
Materials and supplies InventoryRawMaterialsAndSuppliesNetOfReserves $677.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $178.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $187.00M USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $2.43B USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $2.43B USD Point-in-time
Total inventories InventoryNet $3.28B USD Point-in-time
Total inventories InventoryNet $3.36B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $760.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $683.00M USD Point-in-time
Total current assets AssetsCurrent $11.36B USD Point-in-time
Total current assets AssetsCurrent $10.74B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovementsGross $1.42B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovementsGross $1.26B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $3.45B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $3.36B USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentGross $4.78B USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentGross $4.71B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.15B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.17B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.57B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.61B USD Point-in-time
Goodwill Goodwill $9.07B USD Point-in-time
Goodwill Goodwill $9.03B USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $4.11B USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $4.23B USD Point-in-time
Noncurrent deferred income tax assets DeferredIncomeTaxAssetsNet $1.54B USD Point-in-time
Noncurrent deferred income tax assets DeferredIncomeTaxAssetsNet $1.57B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.43B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.37B USD Point-in-time
Total assets Assets $29.44B USD Point-in-time
Total assets Assets $30.17B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $675.00M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $736.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $430.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $955.00M USD Point-in-time
Income taxes AccruedIncomeTaxesCurrent $171.00M USD Point-in-time
Income taxes AccruedIncomeTaxesCurrent $227.00M USD Point-in-time
Dividends payable DividendsPayableCurrent $213.00M USD Point-in-time
Dividends payable DividendsPayableCurrent $216.00M USD Point-in-time
Accrued expenses and other liabilities OtherLiabilitiesCurrent $1.45B USD Point-in-time
Accrued expenses and other liabilities OtherLiabilitiesCurrent $1.53B USD Point-in-time
Current maturities of debt DebtCurrent $1.10B USD Point-in-time
Current maturities of debt DebtCurrent $859.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.40B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.16B USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtNoncurrent $9.40B USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtNoncurrent $10.23B USD Point-in-time
Income taxes AccruedIncomeTaxesNoncurrent $1.03B USD Point-in-time
Income taxes AccruedIncomeTaxesNoncurrent $1.07B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.73B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.66B USD Point-in-time
Total liabilities Liabilities $17.36B USD Point-in-time
Total liabilities Liabilities $16.32B USD Point-in-time
Common stock, $0.10 par value CommonStockValueOutstanding $37.00M USD Point-in-time
Common stock, $0.10 par value CommonStockValueOutstanding $38.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.68B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.63B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $12.02B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $11.75B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-565.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-623.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-606.00M 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 $12.81B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.12B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $30.17B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $29.44B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $3.59B USD 1 Quarter
Net sales Revenues $3.52B USD 1 Quarter
Cost of sales CostOfRevenue $1.26B USD 1 Quarter
Cost of sales CostOfRevenue $1.23B USD 1 Quarter
Gross profit GrossProfit $2.28B USD 1 Quarter
Gross profit GrossProfit $2.33B USD 1 Quarter
Research, development and engineering expenses ResearchAndDevelopmentExpense $254.00M USD 1 Quarter
Research, development and engineering expenses ResearchAndDevelopmentExpense $225.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $1.40B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $1.33B USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $13.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $-6.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $118.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $114.00M USD 1 Quarter
Total operating expenses OperatingExpenses $1.75B USD 1 Quarter
Total operating expenses OperatingExpenses $1.70B USD 1 Quarter
Operating income OperatingIncomeLoss $528.00M USD 1 Quarter
Operating income OperatingIncomeLoss $635.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $-45.00M 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 $590.00M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $97.00M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $68.00M USD 1 Quarter
Net earnings NetIncomeLoss $412.00M USD 1 Quarter
Net earnings NetIncomeLoss $493.00M USD 1 Quarter
Basic EarningsPerShareBasic $1.10 USD 1 Quarter
Basic EarningsPerShareBasic $1.32 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.09 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.30 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 373.30M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 374.80M shares 1 Quarter
Effect of dilutive employee stock compensation WeightedAverageNumberDilutedSharesOutstandingAdjustment 6.00M shares 1 Quarter
Effect of dilutive employee stock compensation WeightedAverageNumberDilutedSharesOutstandingAdjustment 4.90M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 379.70M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 379.30M shares 1 Quarter
Cash dividends declared per share of common stock (in dollars per share) CommonStockDividendsPerShareDeclared $0.57 USD 1 Quarter
Cash dividends declared per share of common stock (in dollars per share) CommonStockDividendsPerShareDeclared $0.52 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $412.00M USD 1 Quarter
Net earnings NetIncomeLoss $493.00M USD 1 Quarter
Depreciation Depreciation $76.00M USD 1 Quarter
Depreciation Depreciation $80.00M USD 1 Quarter
Amortization of intangible assets AdjustmentForAmortization $118.00M USD 1 Quarter
Amortization of intangible assets AdjustmentForAmortization $114.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $35.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $56.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $13.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $-6.00M USD 1 Quarter
Sale of inventory stepped-up to fair value at acquisition SaleOfInventorySteppedUpToFairValueAtAcquisition $6.00M USD 1 Quarter
Sale of inventory stepped-up to fair value at acquisition SaleOfInventorySteppedUpToFairValueAtAcquisition $24.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-50.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-204.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $122.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $139.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-12.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $63.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-166.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-550.00M USD 1 Quarter
Recall-related payments Changeinaccrualforrecallexpenses $-4.00M USD 1 Quarter
Recall-related payments Changeinaccrualforrecallexpenses $-20.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $9.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $84.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $83.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $-169.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $313.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $591.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $23.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $180.00M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $8.00M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $20.00M USD 1 Quarter
Proceeds from sales of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $12.00M 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 $144.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-303.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-163.00M USD 1 Quarter
Proceeds (payments) on short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $4.00M USD 1 Quarter
Proceeds (payments) on short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-12.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $1.34B USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $500.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $215.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $195.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $307.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Cash paid for taxes from withheld shares ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-97.00M USD 1 Quarter
Cash paid for taxes from withheld shares ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-56.00M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $5.00M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $-1.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-1.95B USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-768.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-5.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-33.00M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-373.00M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.94B USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.34B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.62B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.67B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.34B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.62B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.67B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B 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 $12.81B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.12B USD Point-in-time
Net earnings (loss) NetIncomeLoss $412.00M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $493.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $66.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-17.00M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $11.69B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.12B 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 $493.00M USD 1 Quarter
Marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.00M USD 1 Quarter
Pension plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $4.00M USD 1 Quarter
Pension plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $4.00M USD 1 Quarter
Unrealized gains (losses) on designated hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-26.00M 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 $13.00M 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 $-17.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $476.00M 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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