Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Stryker Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net sales	17,108)	14,351)	14,884)	13,601)	12,444)
Cost of sales	(6,140)	(5,294)	(5,188)	(4,663)	(4,271)
Gross profit	10,968)	9,057)	9,696)	8,938)	8,173)
Research, development and engineering expenses	(1,235)	(984)	(971)	(862)	(787)
Selling, general and administrative expenses	(6,427)	(5,361)	(5,356)	(5,099)	(4,552)
Recall charges	(103)	(17)	(192)	(23)	(173)
Amortization of intangible assets	(619)	(472)	(464)	(417)	(371)
Operating expenses	(8,384)	(6,834)	(6,983)	(6,401)	(5,883)
Operating income	2,584)	2,223)	2,713)	2,537)	2,290)
Interest expense	(337)	(315)	(287)	(264)	(247)
Other income (expense), net	34)	46)	136)	83)	20)
Earnings before income taxes	2,281)	1,954)	2,562)	2,356)	2,063)
Income taxes	(287)	(355)	(479)	1,197)	(1,043)
Net earnings	1,994)	1,599)	2,083)	3,553)	1,020)

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).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Stryker Corp. net sales decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Stryker Corp. operating income decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.
Earnings before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Stryker Corp. earnings before income taxes decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Stryker Corp. net earnings decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.

Stryker Corp. (NYSE:SYK)

Income Statement