$SYK
STRYKER CORP

2017 Q3 Form 10-Q Financial Statement

#000031076417000164 Filed on October 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $3.006B $2.833B
YoY Change 6.11% 17.07%
Cost Of Revenue $1.022B $960.0M
YoY Change 6.46% 20.6%
Gross Profit $1.984B $1.873B
YoY Change 5.93% 15.33%
Gross Profit Margin 66.0% 66.11%
Selling, General & Admin $1.103B $1.057B
YoY Change 4.35% 19.17%
% of Gross Profit 55.59% 56.43%
Research & Development $198.0M $184.0M
YoY Change 7.61% 18.71%
% of Gross Profit 9.98% 9.82%
Depreciation & Amortization $163.0M $148.0M
YoY Change 10.14% 46.53%
% of Gross Profit 8.22% 7.9%
Operating Expenses $1.459B $1.387B
YoY Change 5.19% 11.32%
Operating Profit $525.0M $486.0M
YoY Change 8.02% 28.57%
Interest Expense $17.00M -$5.000M
YoY Change -440.0%
% of Operating Profit 3.24% -1.03%
Other Income/Expense, Net -$54.00M -$67.00M
YoY Change -19.4% 103.03%
Pretax Income $471.0M $419.0M
YoY Change 12.41% 21.45%
Income Tax $37.00M $64.00M
% Of Pretax Income 7.86% 15.27%
Net Earnings $434.0M $355.0M
YoY Change 22.25% 17.94%
Net Earnings / Revenue 14.44% 12.53%
Basic Earnings Per Share $1.16 $0.95
Diluted Earnings Per Share $1.14 $0.94
COMMON SHARES
Basic Shares Outstanding 374.2M shares 374.4M shares
Diluted Shares Outstanding 380.2M shares 379.0M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.689B $3.022B
YoY Change -11.02% -12.43%
Cash & Equivalents $2.592B $2.953B
Short-Term Investments $97.00M $69.00M
Other Short-Term Assets $602.0M $449.0M
YoY Change 34.08% -70.07%
Inventory $2.454B $2.092B
Prepaid Expenses $602.0M $449.0M
Receivables $1.965B $1.803B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.710B $7.366B
YoY Change 4.67% -8.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.852B $1.505B
YoY Change 23.06% 33.42%
Goodwill $7.026B $6.475B
YoY Change 8.51% 55.65%
Intangibles $3.470B $3.608B
YoY Change -3.82% 93.87%
Long-Term Investments
YoY Change
Other Assets $1.427B $1.233B
YoY Change 15.73% 67.76%
Total Long-Term Assets $13.78B $12.82B
YoY Change 7.44% 62.62%
TOTAL ASSETS
Total Short-Term Assets $7.710B $7.366B
Total Long-Term Assets $13.78B $12.82B
Total Assets $21.49B $20.19B
YoY Change 6.43% 26.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $458.0M $420.0M
YoY Change 9.05% 23.53%
Accrued Expenses $1.826B $2.085B
YoY Change -12.42% 7.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $632.0M $135.0M
YoY Change 368.15% -86.1%
Total Short-Term Liabilities $3.258B $3.026B
YoY Change 7.67% -14.83%
LONG-TERM LIABILITIES
Long-Term Debt $6.593B $6.713B
YoY Change -1.79% 167.34%
Other Long-Term Liabilities $1.209B $1.116B
YoY Change 8.33% -18.48%
Total Long-Term Liabilities $7.802B $7.829B
YoY Change -0.34% 101.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.258B $3.026B
Total Long-Term Liabilities $7.802B $7.829B
Total Liabilities $11.06B $10.86B
YoY Change 1.89% 46.04%
SHAREHOLDERS EQUITY
Retained Earnings $9.411B $8.491B
YoY Change 10.84% 10.91%
Common Stock $1.475B $1.404B
YoY Change 5.06% 6.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.43B $9.332B
YoY Change
Total Liabilities & Shareholders Equity $21.49B $20.19B
YoY Change 6.43% 26.83%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $434.0M $355.0M
YoY Change 22.25% 17.94%
Depreciation, Depletion And Amortization $163.0M $148.0M
YoY Change 10.14% 46.53%
Cash From Operating Activities $79.00M $502.0M
YoY Change -84.26% -198.62%
INVESTING ACTIVITIES
Capital Expenditures -$142.0M -$118.0M
YoY Change 20.34% 53.25%
Acquisitions
YoY Change
Other Investing Activities -$673.0M $16.00M
YoY Change -4306.25% -95.92%
Cash From Investing Activities -$815.0M -$102.0M
YoY Change 699.02% -132.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -345.0M -948.0M
YoY Change -63.61% 277.69%
NET CHANGE
Cash From Operating Activities 79.00M 502.0M
Cash From Investing Activities -815.0M -102.0M
Cash From Financing Activities -345.0M -948.0M
Net Change In Cash -1.081B -548.0M
YoY Change 97.26% 23.15%
FREE CASH FLOW
Cash From Operating Activities $79.00M $502.0M
Capital Expenditures -$142.0M -$118.0M
Free Cash Flow $221.0M $620.0M
YoY Change -64.35% -243.52%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1257000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
880000000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
355000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1137000000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
434000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1269000000 USD
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
4356000000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
486000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1505000000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q4 us-gaap Other Assets Noncurrent
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CY2017Q3 us-gaap Other Assets Noncurrent
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CY2016Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
19000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
77000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
205000000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
7000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
23000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
13000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
48000000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-6000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
87000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
269000000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
1000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
4000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-14000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-3000000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
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CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
957000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1209000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
230000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
230000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
426000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
477000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4296000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
712000000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
136000000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
85000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
347000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
412000000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
480000000 USD
CY2017Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
602000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Debt
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500000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-32000000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
769000000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
56000000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
4248000000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1227000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3161000000 USD
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3689000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1569000000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1852000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
1430000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
927000000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
184000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
526000000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
198000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
582000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8842000000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9411000000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2833000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
8168000000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3006000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
8973000000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1057000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1103000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3335000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
71000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
85000000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1500000 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
35000000 USD
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1900000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
230000000 USD
CY2017Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1900000 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
9550000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
10425000000 USD
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
45000000 USD
CY2017Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
41000000 USD
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4600000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4400000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
379000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
378300000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
380200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
379800000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
374400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
373900000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
374200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
373800000 shares

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