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10-Q Filing

STRYKER CORP CIK: 310764 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0000310764-21-000065
Period End Date 20210331
Filing Date 20210428
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance syk-20210331_htm.xml
Balance Sheet 81 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $131.00M USD Point-in-time
Allowance for doubtful accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $132.00M 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 $2.94B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.24B USD Point-in-time
Marketable securities AvailableForSaleSecuritiesDebtSecuritiesCurrent $81.00M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesDebtSecuritiesCurrent $74.00M USD Point-in-time
Accounts receivable, less allowance of $132 ($131 in 2020) AccountsReceivableNetCurrent $2.62B USD Point-in-time
Accounts receivable, less allowance of $132 ($131 in 2020) AccountsReceivableNetCurrent $2.70B USD Point-in-time
Materials and supplies InventoryRawMaterialsAndSuppliesNetOfReserves $664.00M USD Point-in-time
Materials and supplies InventoryRawMaterialsAndSuppliesNetOfReserves $678.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $251.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $266.00M USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $2.54B USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $2.56B USD Point-in-time
Total inventories InventoryNet $3.49B USD Point-in-time
Total inventories InventoryNet $3.47B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $578.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $488.00M USD Point-in-time
Total current assets AssetsCurrent $9.71B USD Point-in-time
Total current assets AssetsCurrent $8.98B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovementsGross $1.55B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovementsGross $1.57B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $3.64B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $3.64B USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentGross $5.18B USD Point-in-time
Total property, plant and equipment PropertyPlantAndEquipmentGross $5.21B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.43B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.50B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.71B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.75B USD Point-in-time
Goodwill Goodwill $12.78B USD Point-in-time
Goodwill Goodwill $12.80B USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $5.55B USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $5.38B USD Point-in-time
Noncurrent deferred income tax assets DeferredIncomeTaxAssetsNet $1.52B USD Point-in-time
Noncurrent deferred income tax assets DeferredIncomeTaxAssetsNet $1.53B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $2.07B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $2.01B USD Point-in-time
Total assets Assets $33.45B USD Point-in-time
Total assets Assets $34.33B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $767.00M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $810.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $925.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $689.00M USD Point-in-time
Income taxes AccruedIncomeTaxesCurrent $253.00M USD Point-in-time
Income taxes AccruedIncomeTaxesCurrent $207.00M USD Point-in-time
Dividends payable DividendsPayableCurrent $237.00M USD Point-in-time
Dividends payable DividendsPayableCurrent $237.00M USD Point-in-time
Accrued product liabilities CustomerRefundLiabilityCurrent $505.00M USD Point-in-time
Accrued product liabilities CustomerRefundLiabilityCurrent $515.00M USD Point-in-time
Accrued expenses and other liabilities OtherLiabilitiesCurrent $1.59B USD Point-in-time
Accrued expenses and other liabilities OtherLiabilitiesCurrent $1.49B USD Point-in-time
Current maturities of debt DebtCurrent $15.00M USD Point-in-time
Current maturities of debt DebtCurrent $761.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.04B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.95B USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtNoncurrent $13.23B USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtNoncurrent $13.06B USD Point-in-time
Income taxes AccruedIncomeTaxesNoncurrent $986.00M USD Point-in-time
Income taxes AccruedIncomeTaxesNoncurrent $990.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.99B USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $1.96B USD Point-in-time
Total liabilities Liabilities $19.95B USD Point-in-time
Total liabilities Liabilities $21.25B USD Point-in-time
Common stock, $0.10 par value CommonStockValueOutstanding $38.00M USD Point-in-time
Common stock, $0.10 par value CommonStockValueOutstanding $38.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.74B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.81B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $12.46B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $12.53B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-867.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.16B 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
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.08B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.12B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.50B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $34.33B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $33.45B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $3.95B USD 1 Quarter
Net sales Revenues $3.59B USD 1 Quarter
Cost of sales CostOfRevenue $1.44B USD 1 Quarter
Cost of sales CostOfRevenue $1.26B USD 1 Quarter
Gross profit GrossProfit $2.33B USD 1 Quarter
Gross profit GrossProfit $2.51B USD 1 Quarter
Research, development and engineering expenses ResearchAndDevelopmentExpense $288.00M USD 1 Quarter
Research, development and engineering expenses ResearchAndDevelopmentExpense $254.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $1.33B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $1.57B USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $-6.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $6.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $181.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $118.00M USD 1 Quarter
Total operating expenses OperatingExpenses $2.05B USD 1 Quarter
Total operating expenses OperatingExpenses $1.70B USD 1 Quarter
Operating income OperatingIncomeLoss $459.00M USD 1 Quarter
Operating income OperatingIncomeLoss $635.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $-92.00M USD 1 Quarter
Other income (expense), net NonoperatingIncomeExpense $-45.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $590.00M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $367.00M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $65.00M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $97.00M USD 1 Quarter
Net earnings NetIncomeLoss $302.00M USD 1 Quarter
Net earnings NetIncomeLoss $493.00M USD 1 Quarter
Basic EarningsPerShareBasic $1.32 USD 1 Quarter
Basic EarningsPerShareBasic $0.80 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.79 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.30 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 376.30M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 374.80M shares 1 Quarter
Effect of dilutive employee stock compensation WeightedAverageNumberDilutedSharesOutstandingAdjustment 4.90M shares 1 Quarter
Effect of dilutive employee stock compensation WeightedAverageNumberDilutedSharesOutstandingAdjustment 5.40M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 379.70M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 381.70M 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 $0.63 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $302.00M USD 1 Quarter
Net earnings NetIncomeLoss $493.00M USD 1 Quarter
Depreciation Depreciation $80.00M USD 1 Quarter
Depreciation Depreciation $95.00M USD 1 Quarter
Amortization of intangible assets AdjustmentForAmortization $118.00M USD 1 Quarter
Amortization of intangible assets AdjustmentForAmortization $181.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $68.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $56.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $-6.00M USD 1 Quarter
Recall charges ProductLiabilityAccrualPeriodExpense $6.00M USD 1 Quarter
Sale of inventory stepped-up to fair value at acquisition SaleOfInventorySteppedUpToFairValueAtAcquisition $79.00M USD 1 Quarter
Sale of inventory stepped-up to fair value at acquisition SaleOfInventorySteppedUpToFairValueAtAcquisition $6.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-204.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-65.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $73.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $122.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-37.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $63.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-178.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-550.00M USD 1 Quarter
Recall-related payments Changeinaccrualforrecallexpenses $-8.00M USD 1 Quarter
Recall-related payments Changeinaccrualforrecallexpenses $-4.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $6.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $84.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $-169.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $54.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $452.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $591.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $27.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $23.00M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $8.00M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $5.00M USD 1 Quarter
Proceeds from sales of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $12.00M USD 1 Quarter
Proceeds from sales of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $12.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $144.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $83.00M USD 1 Quarter
Other investing, net PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other investing, net PaymentsForProceedsFromOtherInvestingActivities $-7.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-163.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-96.00M USD 1 Quarter
Proceeds (payments) on short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $2.00M USD 1 Quarter
Proceeds (payments) on short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $4.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $5.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $750.00M 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 $238.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Cash paid for taxes from withheld shares ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-53.00M USD 1 Quarter
Cash paid for taxes from withheld shares ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-56.00M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $-19.00M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $-1.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-768.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-1.05B USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-33.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-8.00M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-705.00M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-373.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.24B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.94B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.34B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.96B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.24B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.94B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.34B USD Point-in-time
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.08B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.12B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.50B USD Point-in-time
Net earnings NetIncomeLoss $302.00M USD 1 Quarter
Net earnings NetIncomeLoss $493.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $290.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-17.00M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.08B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.12B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.50B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $302.00M USD 1 Quarter
Net earnings NetIncomeLoss $493.00M USD 1 Quarter
Pension plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-7.00M USD 1 Quarter
Pension plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $4.00M USD 1 Quarter
Unrealized gains (losses) on designated hedges DerivativeGainLossOnDerivativeNet $-26.00M USD 1 Quarter
Unrealized gains (losses) on designated hedges DerivativeGainLossOnDerivativeNet $28.00M USD 1 Quarter
Financial statement translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $13.00M USD 1 Quarter
Financial statement translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $255.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $290.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-17.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $592.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $476.00M USD 1 Quarter

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

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