Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Stryker Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Accounts Payable
- The percentage of accounts payable relative to total liabilities and shareholders’ equity exhibited moderate volatility across the periods, initially fluctuating between 2.0% and 2.6% from 2017 to early 2019, followed by a gradual increase reaching a peak of 3.26% in December 2021 before slightly decreasing to 3.0% in March 2022. This suggests a rising trend in short-term creditor obligations towards the end of the period under review.
- Accrued Compensation
- This liability demonstrated notable variability. It peaked multiple times, notably reaching 3.78% in December 2017, then decreasing substantially in 2020 to lows near 1.46%, before rising again to above 3.0% by late 2021 before dropping to 1.95% as of March 2022. This pattern indicates fluctuations in accrued employee compensation, possibly due to changes in workforce or compensation policies.
- Income Taxes (Current)
- Current income taxes as a percentage of total liabilities and equity generally remained under 1.1% during the entire period, with minor fluctuations. It showed a slight increasing tendency up to September 2021 followed by a decline towards March 2022, reflecting variability in tax obligations but without significant spikes.
- Dividends Payable
- Dividends payable maintained relative stability close to 0.7% throughout the period, with only minor variations. It indicates a consistent dividend payout policy with no abrupt changes.
- Accrued Product Liabilities
- Data is available only from 2020 onwards, showing a decreasing trend from 1.5% in early 2020 down to 1.19% by March 2022, suggesting a gradual reduction in liabilities related to product accruals.
- Accrued Expenses and Other Liabilities
- These liabilities showed a decreasing trend over time, starting above 7% in mid-2017, declining to around 4.2%-4.5% by March 2022. This steady reduction may indicate more efficient expense management or shifts in operational practices.
- Current Maturities of Debt
- The percentage related to current maturities displayed significant volatility. It sharply rose to nearly 9% in March 2018, then trended downward with a few fluctuations to minimal values close to zero in mid to late 2021, increasing slightly to 0.59% by March 2022. The data reflects variable short-term debt obligations possibly influenced by refinancing or debt repayment schedules.
- Current Liabilities
- Current liabilities peaked at over 21% in March 2018, then generally trended downward to about 12% by March 2022. This decline indicates a relative reduction in short-term obligations or a restructuring of liabilities towards longer maturities.
- Long-term Debt, Excluding Current Maturities
- Long-term debt showed a downward trend from 35% in early 2017 to a low around 26-27% by late 2018, followed by an upward movement reaching approximately 38.4% by March 2022. This suggests an overall increase in long-term debt financing during recent years after an earlier reduction.
- Income Taxes (Non-current)
- Non-current income tax liabilities decreased steadily from 5.68% in late 2017 to 2.54% by March 2022, indicating a reduction in deferred or long-term tax obligations.
- Other Noncurrent Liabilities
- Other noncurrent liabilities remained relatively stable, fluctuating around 4% to 6% without significant long-term trends. This stability reflects consistency in other noncurrent obligations.
- Noncurrent Liabilities
- Noncurrent liabilities began near 40% in early 2017, increased to a peak of 47.8% by March 2021, and then declined modestly to 46.2% by March 2022. The general upward trend signifies a growing proportion of long-term obligations relative to total liabilities and equity.
- Total Liabilities
- Total liabilities hovered near the midpoint of the range, increasing from about 53% in early 2017 to a peak near 61.9% in late 2020, before declining to approximately 58.4% by March 2022. This reflects a general increase in leverage or obligations before a slight reduction towards the end of the period.
- Common Stock, $0.10 Par Value
- The proportionate representation of common stock equity remained minimal and somewhat stable around 0.1% to 0.18%, indicating no material changes in the stock par value share within the capital structure.
- Additional Paid-in Capital
- This component of equity showed a slight decreasing trend from about 7% in early 2017 to approximately 5.4% by 2022, suggesting modest reduction or dilution in additional paid-in capital over time.
- Retained Earnings
- Retained earnings displayed a declining trend from over 43% in early 2017 to about 37.5% by March 2022, albeit with fluctuations. Particularly noticeable is a decrease around 2019-2020, possibly reflecting distribution of earnings or impacts of net income variability.
- Accumulated Other Comprehensive Loss
- The negative balance of accumulated other comprehensive loss decreased from a larger magnitude of -3.29% in early 2017 to a lower magnitude near -1.33% by March 2022, indicating an improvement in comprehensive income components such as foreign currency adjustments or pension liabilities.
- Total Stryker Shareholders’ Equity
- Shareholders’ equity as a percentage of total liabilities and equity declined from approximately 47.3% in early 2017 to a low of 38.1% in late 2020, followed by a partial recovery to about 41.6% by early 2022. These movements coincide with changes in retained earnings and paid-in capital, suggesting fluctuations in the company’s net asset base relative to its liabilities.
- Total Shareholders’ Equity
- Total shareholders’ equity trends mirrored those of total Stryker shareholders’ equity, showing the same variation patterns and concluding at comparable ratios.
- Total Liabilities and Shareholders’ Equity
- Consistently equal to 100%, the sum of liabilities and shareholders’ equity confirmed the integrity of the proportional data framework throughout all periods.