2023 Q1 Form 10-K Financial Statement

#000031076423000017 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $4.778B $5.202B $18.45B
YoY Change 11.77% 10.66% 7.84%
Cost Of Revenue $1.762B $1.939B $6.800B
YoY Change 14.34% 20.43% 10.75%
Gross Profit $3.016B $3.263B $11.65B
YoY Change 10.31% 7.16% 6.21%
Gross Profit Margin 63.12% 62.73% 63.14%
Selling, General & Admin $1.781B $1.593B $6.035B
YoY Change 4.15% 5.99% -6.1%
% of Gross Profit 59.05% 48.82% 51.81%
Research & Development $339.0M $284.0M $1.317B
YoY Change -17.92% -5.02% 6.64%
% of Gross Profit 11.24% 8.7% 11.31%
Depreciation & Amortization $96.00M $253.0M $998.0M
YoY Change 4.35% 6.3% -21.54%
% of Gross Profit 3.18% 7.75% 8.57%
Operating Expenses $2.281B $2.035B $7.979B
YoY Change -0.26% 4.52% -4.83%
Operating Profit $735.0M $1.228B $3.670B
YoY Change 64.43% 11.84% 42.03%
Interest Expense $14.00M $33.00M -$243.0M
YoY Change -6.67% 83.33% -9.67%
% of Operating Profit 1.9% 2.69% -6.62%
Other Income/Expense, Net -$56.00M -$53.00M -$158.0M
YoY Change -8.2% -30.26% -47.85%
Pretax Income $679.0M $761.0M $2.683B
YoY Change 75.91% 0.53% 17.62%
Income Tax $87.00M $198.0M $325.0M
% Of Pretax Income 12.81% 26.02% 12.11%
Net Earnings $592.0M $563.0M $2.358B
YoY Change 83.28% -14.95% 18.25%
Net Earnings / Revenue 12.39% 10.82% 12.78%
Basic Earnings Per Share $1.56 $1.48 $6.23
Diluted Earnings Per Share $1.54 $1.473M $6.170M
COMMON SHARES
Basic Shares Outstanding 378.8M shares 378.2M shares
Diluted Shares Outstanding 383.2M shares 382.2M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.757B $1.928B $1.928B
YoY Change 14.84% -36.14% -36.14%
Cash & Equivalents $1.671B $1.844B $1.844B
Short-Term Investments $86.00M $84.00M $84.00M
Other Short-Term Assets $850.0M $787.0M $787.0M
YoY Change 25.18% 18.88% 18.88%
Inventory $4.333B $3.995B $3.995B
Prepaid Expenses $850.0M $787.0M
Receivables $3.215B $3.565B $3.565B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.16B $10.28B $10.28B
YoY Change 16.39% 2.58% 2.58%
LONG-TERM ASSETS
Property, Plant & Equipment $3.037B $2.970B $2.970B
YoY Change 8.74% 4.84% -8.67%
Goodwill $14.85B $14.88B
YoY Change -2.49% 15.19%
Intangibles $4.779B $4.885B
YoY Change -11.99% 0.93%
Long-Term Investments
YoY Change
Other Assets $2.567B $3.874B $3.874B
YoY Change 8.82% 71.19% 7.49%
Total Long-Term Assets $26.68B $26.61B $26.61B
YoY Change -2.69% 8.11% 8.11%
TOTAL ASSETS
Total Short-Term Assets $10.16B $10.28B $10.28B
Total Long-Term Assets $26.68B $26.61B $26.61B
Total Assets $36.83B $36.88B $36.88B
YoY Change 1.92% 6.51% 6.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.366B $1.413B $1.413B
YoY Change 26.01% 25.16% 25.16%
Accrued Expenses $2.640B $3.123B $3.123B
YoY Change -1.27% 5.58% 5.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.204B $1.191B $1.191B
YoY Change 462.62% 16914.29% 16914.29%
Total Short-Term Liabilities $5.866B $6.303B $6.303B
YoY Change 33.08% 38.56% 38.56%
LONG-TERM LIABILITIES
Long-Term Debt $11.86B $11.86B $11.86B
YoY Change -14.61% -4.93% -4.93%
Other Long-Term Liabilities $1.587B $2.108B $2.108B
YoY Change -15.63% 15.82% -22.87%
Total Long-Term Liabilities $13.44B $13.97B $13.97B
YoY Change -14.73% -2.29% -8.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.866B $6.303B $6.303B
Total Long-Term Liabilities $13.44B $13.97B $13.97B
Total Liabilities $19.94B $20.27B $20.27B
YoY Change -5.48% 2.6% 2.6%
SHAREHOLDERS EQUITY
Retained Earnings $15.07B $14.77B
YoY Change 11.31% 9.53%
Common Stock $2.090B $2.034B
YoY Change 7.34% 7.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.90B $16.62B $16.62B
YoY Change
Total Liabilities & Shareholders Equity $36.83B $36.88B $36.88B
YoY Change 1.92% 6.51% 6.51%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $592.0M $563.0M $2.358B
YoY Change 83.28% -14.95% 18.25%
Depreciation, Depletion And Amortization $96.00M $253.0M $998.0M
YoY Change 4.35% 6.3% -21.54%
Cash From Operating Activities $445.0M $1.003B $2.624B
YoY Change 119.21% 0.3% -19.58%
INVESTING ACTIVITIES
Capital Expenditures $130.0M -$188.0M -$588.0M
YoY Change 9.24% -8.74% -212.0%
Acquisitions $0.00 $2.563B
YoY Change -100.0% 656.05%
Other Investing Activities -$1.000M $26.00M -$2.336B
YoY Change -150.0% -124.07% -233700.0%
Cash From Investing Activities -$132.0M -$162.0M -$2.924B
YoY Change -95.08% -48.41% 240.4%
FINANCING ACTIVITIES
Cash Dividend Paid $284.0M $1.051B
YoY Change 8.4% 10.63%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $100.0M $653.0M
YoY Change -43.27%
Cash From Financing Activities -$481.0M -446.0M -749.0M
YoY Change -148.44% 54.86% -68.33%
NET CHANGE
Cash From Operating Activities $445.0M 1.003B 2.624B
Cash From Investing Activities -$132.0M -162.0M -2.924B
Cash From Financing Activities -$481.0M -446.0M -749.0M
Net Change In Cash -$173.0M 395.0M -1.049B
YoY Change -88.36% -0.75% -105000.0%
FREE CASH FLOW
Cash From Operating Activities $445.0M $1.003B $2.624B
Capital Expenditures $130.0M -$188.0M -$588.0M
Free Cash Flow $315.0M $1.191B $3.212B
YoY Change 275.0% -1.24% 17.31%

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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2022Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2022 syk Common And Preferred Stock Shares Authorized
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CY2022Q4 us-gaap Preferred Stock Shares Authorized
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2022Q4 us-gaap Other Long Term Debt
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CY2021Q4 us-gaap Unamortized Debt Issuance Expense
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CY2022Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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CY2022Q4 us-gaap Debt Instrument Fair Value
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CY2022 us-gaap Interest Expense Debt
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CY2021 us-gaap Interest Expense Debt
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.47
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.695
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.695
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.695
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.750
CY2021Q1 us-gaap Revenues
Revenues
3953000000 usd
CY2021Q2 us-gaap Revenues
Revenues
4294000000 usd
CY2021Q3 us-gaap Revenues
Revenues
4160000000 usd
CY2021Q4 us-gaap Revenues
Revenues
4701000000 usd
CY2021Q1 us-gaap Gross Profit
GrossProfit
2509000000 usd
CY2021Q2 us-gaap Gross Profit
GrossProfit
2772000000 usd
CY2021Q3 us-gaap Gross Profit
GrossProfit
2642000000 usd
CY2021Q4 us-gaap Gross Profit
GrossProfit
3045000000 usd
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
367000000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
662000000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
495000000 usd
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
757000000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
302000000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
592000000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
438000000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
662000000 usd
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.57
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.17
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.75
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.73
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.630
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.630
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.630
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.695
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022 us-gaap Revenues
Revenues
18449000000 usd
CY2021 us-gaap Revenues
Revenues
17108000000 usd
CY2020 us-gaap Revenues
Revenues
14351000000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1278000000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1272000000 usd
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1076000000 usd
CY2022Q4 us-gaap Assets
Assets
36884000000 usd
CY2021Q4 us-gaap Assets
Assets
34631000000 usd
CY2020Q4 us-gaap Assets
Assets
34330000000 usd
CY2022 syk Capital Expenditures During Period
CapitalExpendituresDuringPeriod
588000000 usd
CY2021 syk Capital Expenditures During Period
CapitalExpendituresDuringPeriod
525000000 usd
CY2020 syk Capital Expenditures During Period
CapitalExpendituresDuringPeriod
487000000 usd
CY2022 us-gaap Revenues
Revenues
18449000000 usd
CY2021 us-gaap Revenues
Revenues
17108000000 usd
CY2020 us-gaap Revenues
Revenues
14351000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2970000000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2833000000 usd

Files In Submission

Name View Source Status
syk-20221231_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
syk-20221231_lab.xml Edgar Link unprocessable
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ex10i2023nqstockoptionawar.htm Edgar Link pending
ex10ii2023rsuawardletteran.htm Edgar Link pending
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syk-20221231.xsd Edgar Link pending
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syk-20221231_def.xml Edgar Link unprocessable
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syk-20221231_htm.xml Edgar Link completed