Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Stryker Corp., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2021		Dec 31, 2020		Dec 31, 2019		Dec 31, 2018		Dec 31, 2017
	Cash and cash equivalents
	Marketable securities
	Accounts receivable, less allowance
	Inventories
	Prepaid expenses and other current assets
	Current assets
	Property, plant and equipment, net
	Goodwill
	Other intangibles, net
	Noncurrent deferred income tax assets
	Other noncurrent assets
	Noncurrent assets
	Total assets

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 analysis of the annual financial data reveals several significant trends affecting the asset structure over the period from 2017 to 2021.

Cash and cash equivalents: This item initially increased substantially from 2,542 million in 2017 to 4,337 million in 2019, followed by a notable decline to 2,943 million in 2020, after which it stabilized at roughly the same level in 2021. This pattern suggests a shift in liquidity management or cash deployment strategies during the latter part of the period.
Marketable securities: Marketable securities displayed a marked decrease from 251 million in 2017 to 75 million in 2021. The downward trend indicates a reduction in short-term investments that could reflect a preference for other uses of funds or changes in investment policy.
Accounts receivable, less allowance: This asset steadily increased over the period, growing from 2,198 million in 2017 to 3,022 million in 2021. The consistent upward trajectory denotes expanding sales on credit or a growing customer base, requiring effective management of receivables.
Inventories: Inventories rose from 2,465 million in 2017 to a peak of 3,494 million in 2020, followed by a slight decline to 3,314 million in 2021. The increase may indicate higher production or stockpiling in anticipation of demand, with the minor reduction potentially representing improved inventory turnover or stabilization.
Prepaid expenses and other current assets: This category shows volatility, with values increasing from 537 million in 2017 to 760 million in 2019, then dropping significantly to 488 million in 2020 before recovering to 662 million in 2021. Such fluctuations could point to changes in expense prepayment policies or timing differences in asset recognition.
Current assets: Current assets overall rose sharply from 7,993 million in 2017 to a peak of 11,360 million in 2019, then declined to 9,707 million in 2020, followed by a partial recovery to 10,017 million in 2021. This reflects the combined effects of the patterns seen in individual current asset components.
Property, plant and equipment, net: A steady and continuous increase was observed from 1,975 million in 2017 to 2,833 million in 2021. This trend suggests ongoing capital investment in physical assets to support operations or expansion.
Goodwill: Goodwill increased significantly, from 7,168 million in 2017 to 12,918 million in 2021, particularly with a notable jump between 2019 and 2020. This rise likely indicates acquisitions and business combinations contributing intangible value over the period.
Other intangibles, net: These assets grew from 3,477 million in 2017 to a high of 5,554 million in 2020 before declining to 4,840 million in 2021. The peak followed by a decrease might reflect amortization patterns or revaluation effects impacting the net intangible assets.
Noncurrent deferred income tax assets: There was a sharp rise from 283 million in 2017 to 1,678 million in 2018, followed by a generally stable trend around that level through 2021. This suggests recognition of significant deferred tax benefits during 2018 that have been maintained since then.
Other noncurrent assets: This component showed considerable growth, especially between 2018 and 2021, increasing from 801 million to 2,263 million. The continuous upward trend indicates accumulating long-term assets outside of property, plant and equipment or intangibles, such as investments or long-term receivables.
Noncurrent assets: Noncurrent assets expanded markedly from 14,204 million in 2017 to 24,614 million in 2021, driven mainly by increases in goodwill, other intangibles, and other noncurrent assets. The clear upward trajectory signals considerable investment and acquisition activity impacting the company's long-term asset base.
Total assets: Total assets showed robust growth over the period, rising from 22,197 million in 2017 to 34,631 million in 2021. This overall increase reflects a strategy of asset expansion, underpinned by increases in both current and noncurrent assets, indicative of business growth and capital investment.

Assets: Selected Items

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Current Assets: Selected Items