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Stryker Corp. (NYSE:SYK)

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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Stryker Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Accounts payable 3.26 2.36 2.24 2.37 2.19
Accrued compensation 3.15 2.69 3.17 3.37 3.78
Income taxes 0.55 0.60 0.57 0.58 0.64
Dividend payable 0.76 0.69 0.71 0.71 0.80
Accrued product liabilities 1.16 1.50 1.10 0.00 0.00
Accrued expenses and other liabilities 4.23 4.62 3.96 5.59 5.44
Current maturities of debt 0.02 2.22 2.85 5.04 2.85
Current liabilities 13.14% 14.68% 14.59% 17.65% 15.70%
Long-term debt, excluding current maturities 36.01 38.54 33.91 31.17 29.69
Income taxes 2.64 2.88 3.54 4.51 5.68
Other noncurrent liabilities 5.26 5.78 5.51 3.59 3.97
Noncurrent liabilities 43.91% 47.20% 42.96% 39.27% 39.34%
Total liabilities 57.04% 61.89% 57.55% 56.92% 55.04%
Common stock, $0.10 par value 0.11 0.11 0.12 0.14 0.17
Additional paid-in capital 5.46 5.07 5.40 5.73 6.74
Retained earnings 38.92 36.30 38.94 39.54 40.48
Accumulated other comprehensive loss -1.53 -3.37 -2.01 -2.32 -2.49
Total Stryker shareholders’ equity 42.96% 38.11% 42.45% 43.08% 44.90%
Non-controlling interest 0.00 0.00 0.00 0.00 0.06
Total shareholders’ equity 42.96% 38.11% 42.45% 43.08% 44.96%
Total liabilities & shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The capital structure exhibits a moderate fluctuation in the balance between debt and equity over the five-year period. Total liabilities increased from 55.04% of total assets and equity in 2017 to a peak of 61.89% in 2020, before contracting to 57.04% by the end of 2021. Conversely, total shareholders' equity followed an inverse trajectory, declining from 44.96% in 2017 to a low of 38.11% in 2020, and recovering to 42.96% in 2021.

Long-Term Debt and Noncurrent Liabilities
Noncurrent liabilities represent the most significant portion of the company's obligations. This category rose from 39.34% in 2017 to 47.20% in 2020, driven primarily by long-term debt, which peaked at 38.54% of the total balance sheet in 2020. By 2021, long-term debt decreased to 36.01%, contributing to the overall reduction in noncurrent liabilities to 43.91%.
Short-Term Obligations and Liquidity
Current liabilities showed a general downward trend, moving from 15.70% in 2017 to 13.14% in 2021. A notable shift is observed in the current maturities of debt, which decreased from a high of 5.04% in 2018 to a negligible 0.02% in 2021, suggesting a strategic shift in debt maturity profiles or a significant repayment of short-term obligations. Accounts payable remained relatively stable, with a slight increase to 3.26% in 2021 compared to 2.19% in 2017.
Equity Composition and Retained Earnings
Retained earnings constitute the primary component of stockholders' equity, though they experienced a gradual decline from 40.48% in 2017 to 36.30% in 2020, before rebounding to 38.92% in 2021. Additional paid-in capital showed a steady contraction from 6.74% in 2017 to 5.46% in 2021. Accumulated other comprehensive loss remained a consistent negative factor, fluctuating between -1.53% and -3.37% over the period.
Other Liability Trends
Accrued expenses and other liabilities saw a decrease from 5.44% in 2017 to 4.23% in 2021. A new line item, accrued product liabilities, appeared in 2019 at 1.10%, peaked at 1.50% in 2020, and settled at 1.16% in 2021, indicating a formalized accounting for product-related obligations during this timeframe.

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