Stock Analysis on Net

Stryker Corp. (NYSE:SYK)

This company has been moved to the archive! The financial data has not been updated since April 29, 2022.

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Stryker Corp., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Land, buildings and improvements 1,656 1,546 1,263 1,041 936
Machinery and equipment 3,842 3,636 3,451 3,236 2,864
Property, plant and equipment, gross 5,498 5,182 4,714 4,277 3,800
Allowance for depreciation (2,665) (2,430) (2,147) (1,986) (1,825)
Property, plant and equipment, net 2,833 2,752 2,567 2,291 1,975

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Item Description The company
Property, plant and equipment, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Stryker Corp. property, plant and equipment, gross increased from 2019 to 2020 and from 2020 to 2021.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Stryker Corp. property, plant and equipment, net increased from 2019 to 2020 and from 2020 to 2021.

Asset Age Ratios (Summary)

Stryker Corp., asset age ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Average age ratio 48.47% 46.89% 45.55% 46.43% 48.03%
Estimated total useful life (years) 15 15 15 14 14
Estimated age, time elapsed since purchase (years) 7 7 7 6 7
Estimated remaining life (years) 8 8 8 7 7

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Stryker Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Stryker Corp. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Stryker Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated remaining life Stryker Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.

Average Age

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Allowance for depreciation 2,665 2,430 2,147 1,986 1,825
Property, plant and equipment, gross 5,498 5,182 4,714 4,277 3,800
Asset Age Ratio
Average age1 48.47% 46.89% 45.55% 46.43% 48.03%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Average age = 100 × Allowance for depreciation ÷ Property, plant and equipment, gross
= 100 × 2,665 ÷ 5,498 = 48.47%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Stryker Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Property, plant and equipment, gross 5,498 5,182 4,714 4,277 3,800
Depreciation expense 371 340 314 306 271
Asset Age Ratio (Years)
Estimated total useful life1 15 15 15 14 14

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Estimated total useful life = Property, plant and equipment, gross ÷ Depreciation expense
= 5,498 ÷ 371 = 15

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Stryker Corp. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Allowance for depreciation 2,665 2,430 2,147 1,986 1,825
Depreciation expense 371 340 314 306 271
Asset Age Ratio (Years)
Time elapsed since purchase1 7 7 7 6 7

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Time elapsed since purchase = Allowance for depreciation ÷ Depreciation expense
= 2,665 ÷ 371 = 7

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Stryker Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Property, plant and equipment, net 2,833 2,752 2,567 2,291 1,975
Depreciation expense 371 340 314 306 271
Asset Age Ratio (Years)
Estimated remaining life1 8 8 8 7 7

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Estimated remaining life = Property, plant and equipment, net ÷ Depreciation expense
= 2,833 ÷ 371 = 8

Asset age ratio Description The company
Estimated remaining life Stryker Corp. estimated remaining life of depreciable property, plant and equipment decreased from 2019 to 2020 and from 2020 to 2021.