2024 Q1 Form 10-K Financial Statement

#000031076424000024 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $5.243B $5.815B $20.50B
YoY Change 9.73% 11.78% 11.11%
Cost Of Revenue $1.910B $2.102B $7.399B
YoY Change 8.4% 8.41% 8.81%
Gross Profit $3.333B $3.713B $13.10B
YoY Change 10.51% 13.79% 12.45%
Gross Profit Margin 63.57% 63.85% 63.9%
Selling, General & Admin $1.840B $1.801B $6.851B
YoY Change 3.31% 13.06% 13.52%
% of Gross Profit 55.21% 48.51% 52.3%
Research & Development $368.0M $328.0M $1.293B
YoY Change 8.55% 15.49% -1.82%
% of Gross Profit 11.04% 8.83% 9.87%
Depreciation & Amortization $107.0M $250.0M $1.028B
YoY Change 11.46% -1.19% 3.01%
% of Gross Profit 3.21% 6.73% 7.85%
Operating Expenses $2.361B $2.278B $8.779B
YoY Change 3.51% 11.94% 10.03%
Operating Profit $972.0M $1.435B $4.320B
YoY Change 32.24% 16.86% 17.71%
Interest Expense $36.00M $35.00M -$281.0M
YoY Change 157.14% 6.06% 15.64%
% of Operating Profit 3.7% 2.44% -6.5%
Other Income/Expense, Net -$49.00M -$31.00M -$215.0M
YoY Change -12.5% -41.51% 36.08%
Pretax Income $923.0M $1.226B $3.673B
YoY Change 35.94% 61.1% 36.9%
Income Tax $135.0M $83.00M $508.0M
% Of Pretax Income 14.63% 6.77% 13.83%
Net Earnings $788.0M $1.143B $3.165B
YoY Change 33.11% 103.02% 34.22%
Net Earnings / Revenue 15.03% 19.66% 15.44%
Basic Earnings Per Share $2.07 $3.01 $8.34
Diluted Earnings Per Share $2.05 $2.98 $8.25
COMMON SHARES
Basic Shares Outstanding 380.3M shares 379.6M shares
Diluted Shares Outstanding 385.1M shares 383.7M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.407B $3.022B $3.022B
YoY Change 36.99% 56.74% 56.74%
Cash & Equivalents $2.330B $2.940B $2.940B
Short-Term Investments $77.00M $82.00M $82.00M
Other Short-Term Assets $986.0M $857.0M $857.0M
YoY Change 16.0% 8.89% 8.89%
Inventory $5.026B $4.843B $4.843B
Prepaid Expenses $986.0M $857.0M
Receivables $3.473B $3.765B $3.765B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.89B $12.49B $12.49B
YoY Change 17.1% 21.53% 21.53%
LONG-TERM ASSETS
Property, Plant & Equipment $3.260B $3.215B $3.215B
YoY Change 7.34% 8.25% 8.25%
Goodwill $15.35B $15.24B
YoY Change 3.38% 2.44%
Intangibles $4.509B $4.593B
YoY Change -5.65% -5.98%
Long-Term Investments
YoY Change
Other Assets $2.749B $4.343B $4.343B
YoY Change 7.09% 12.11% 12.11%
Total Long-Term Assets $27.51B $27.39B $27.39B
YoY Change 3.13% 2.95% 2.95%
TOTAL ASSETS
Total Short-Term Assets $11.89B $12.49B $12.49B
Total Long-Term Assets $27.51B $27.39B $27.39B
Total Assets $39.40B $39.88B $39.88B
YoY Change 6.98% 8.13% 8.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.246B $1.517B $1.517B
YoY Change -8.78% 7.36% 7.36%
Accrued Expenses $2.902B $3.615B $3.615B
YoY Change 9.92% 15.75% 15.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.058B $2.094B $2.094B
YoY Change 70.93% 75.82% 75.82%
Total Short-Term Liabilities $6.955B $7.890B $7.890B
YoY Change 18.56% 25.18% 25.18%
LONG-TERM LIABILITIES
Long-Term Debt $10.81B $10.90B $10.90B
YoY Change -8.86% -8.06% -8.06%
Other Long-Term Liabilities $1.903B $2.497B $2.497B
YoY Change 19.91% 18.45% 18.45%
Total Long-Term Liabilities $12.71B $13.40B $13.40B
YoY Change -5.46% -4.06% -4.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.955B $7.890B $7.890B
Total Long-Term Liabilities $12.71B $13.40B $13.40B
Total Liabilities $20.23B $21.29B $21.29B
YoY Change 1.48% 5.03% 5.03%
SHAREHOLDERS EQUITY
Retained Earnings $17.25B $16.77B
YoY Change 14.48% 13.59%
Common Stock $2.257B $2.200B
YoY Change 7.99% 8.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.17B $18.59B $18.59B
YoY Change
Total Liabilities & Shareholders Equity $39.40B $39.88B $39.88B
YoY Change 6.98% 8.13% 8.13%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $788.0M $1.143B $3.165B
YoY Change 33.11% 103.02% 34.22%
Depreciation, Depletion And Amortization $107.0M $250.0M $1.028B
YoY Change 11.46% -1.19% 3.01%
Cash From Operating Activities $204.0M $1.497B $3.680B
YoY Change -54.16% 49.25% 40.24%
INVESTING ACTIVITIES
Capital Expenditures $167.0M $145.0M $575.0M
YoY Change 28.46% -177.13% -197.79%
Acquisitions $246.0M $390.0M
YoY Change -84.78%
Other Investing Activities $0.00 -$7.000M -$387.0M
YoY Change -100.0% -126.92% -83.43%
Cash From Investing Activities -$408.0M -$152.0M -$962.0M
YoY Change 209.09% -6.17% -67.1%
FINANCING ACTIVITIES
Cash Dividend Paid $304.0M $1.139B
YoY Change 7.04% 8.37%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $2.058B
YoY Change -100.0% 215.16%
Cash From Financing Activities -$418.0M -286.0M -1.594B
YoY Change -13.1% -35.87% 112.82%
NET CHANGE
Cash From Operating Activities $204.0M 1.497B 3.680B
Cash From Investing Activities -$408.0M -152.0M -962.0M
Cash From Financing Activities -$418.0M -286.0M -1.594B
Net Change In Cash -$641.0M 1.059B 1.124B
YoY Change 270.52% 168.1% -207.15%
FREE CASH FLOW
Cash From Operating Activities $204.0M $1.497B $3.680B
Capital Expenditures $167.0M $145.0M $575.0M
Free Cash Flow $37.00M $1.352B $3.105B
YoY Change -88.25% 13.52% -3.33%

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<span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Stryker (the "Company," "we," "us," or "our") is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The Company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Our products include surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling, emergency medical equipment and intensive care disposable products; clinical communication and workflow solutions; neurosurgical and neurovascular devices; implants used in joint replacement and trauma surgeries; Mako Robotic-Arm Assisted technology; spinal devices; as well as other products used in a variety of medical specialties.</span>
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GoodwillImpairmentLoss
0 usd
CY2023Q4 us-gaap Assets
Assets
39912000000 usd
CY2022Q4 us-gaap Assets
Assets
36884000000 usd
CY2023 syk Capital Expenditures During Period
CapitalExpendituresDuringPeriod
575000000 usd
CY2022 syk Capital Expenditures During Period
CapitalExpendituresDuringPeriod
588000000 usd
CY2021 syk Capital Expenditures During Period
CapitalExpendituresDuringPeriod
525000000 usd
CY2023 us-gaap Revenues
Revenues
20498000000 usd
CY2022 us-gaap Revenues
Revenues
18449000000 usd
CY2021 us-gaap Revenues
Revenues
17108000000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3215000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2970000000 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd

Files In Submission

Name View Source Status
syk-20231231_cal.xml Edgar Link unprocessable
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syk-20231231_def.xml Edgar Link unprocessable
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syk-20231231_htm.xml Edgar Link completed
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