Name: Stryker Corp. (NYSE:SYK) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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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	2,944)	2,943)	4,337)	3,616)	2,542)
Marketable securities	75)	81)	88)	83)	251)
Accounts receivable, less allowance	3,022)	2,701)	2,893)	2,332)	2,198)
Inventories	3,314)	3,494)	3,282)	2,955)	2,465)
Prepaid expenses and other current assets	662)	488)	760)	747)	537)
Current assets	10,017)	9,707)	11,360)	9,733)	7,993)
Property, plant and equipment, net	2,833)	2,752)	2,567)	2,291)	1,975)
Goodwill	12,918)	12,778)	9,069)	8,563)	7,168)
Other intangibles, net	4,840)	5,554)	4,227)	4,163)	3,477)
Noncurrent deferred income tax assets	1,760)	1,530)	1,575)	1,678)	283)
Other noncurrent assets	2,263)	2,009)	1,369)	801)	1,301)
Noncurrent assets	24,614)	24,623)	18,807)	17,496)	14,204)
Total assets	34,631)	34,330)	30,167)	27,229)	22,197)

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).

Total assets exhibited a consistent upward trajectory from 2017 to 2021, increasing from US$ 22,197 million to US$ 34,631 million. This growth was primarily driven by a significant expansion in noncurrent assets, which grew from US$ 14,204 million to US$ 24,614 million, shifting the overall asset composition toward long-term holdings.

Current Asset Trends: Current assets experienced a period of growth peaking in 2019 at US$ 11,360 million, before stabilizing at US$ 10,017 million by 2021. Cash and cash equivalents showed notable volatility, rising from US$ 2,542 million in 2017 to a peak of US$ 4,337 million in 2019, followed by a decline to US$ 2,944 million in 2021. In contrast, accounts receivable demonstrated a steady upward trend, increasing from US$ 2,198 million to US$ 3,022 million, while inventories grew from US$ 2,465 million in 2017 to US$ 3,314 million in 2021, indicating an expansion in operational scale.
Inorganic Growth and Intangible Assets: A substantial increase in noncurrent assets is attributed to Goodwill and other intangible assets. Goodwill rose from US$ 7,168 million in 2017 to US$ 12,918 million in 2021, with a particularly sharp increase occurring between 2019 and 2020. Other intangible assets similarly increased from US$ 3,477 million to US$ 4,840 million. These patterns strongly suggest a strategic emphasis on growth through acquisitions during this five-year period.
Fixed Assets and Deferred Tax Assets: Property, plant, and equipment (net) showed steady, incremental growth, rising from US$ 1,975 million in 2017 to US$ 2,833 million in 2021, reflecting continuous investment in productive capacity. Additionally, noncurrent deferred income tax assets saw a sharp increase between 2017 and 2018, jumping from US$ 283 million to US$ 1,678 million, and remained relatively stable through 2021.
Overall Asset Structure: The balance sheet reflects a transition toward a more asset-heavy structure dominated by noncurrent items. By 2021, noncurrent assets represented approximately 71% of total assets, compared to approximately 64% in 2017. This evolution is primarily characterized by the accumulation of intangible assets and goodwill rather than a proportional increase in liquid current assets.

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