Microsoft Excel LibreOffice Calc

Stryker Corp. (SYK)


Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company’s 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

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net sales 13,601  12,444  11,325  9,946  9,675 
Cost of sales (4,663) (4,271) (3,830) (3,344) (3,291)
Gross profit 8,938  8,173  7,495  6,602  6,384 
Research, development and engineering expenses (862) (787) (715) (625) (614)
Selling, general and administrative expenses (5,099) (4,552) (4,137) (3,610) (3,575)
Recall charges, net of insurance proceeds (23) (173) (158) (296) (761)
Amortization of intangible assets (417) (371) (319) (210) (188)
Operating expenses (6,401) (5,883) (5,329) (4,741) (5,138)
Operating income 2,537  2,290  2,166  1,861  1,246 
Interest expense (264) (247) (228) (108) (113)
Other income (expense), net 83  20  (17) (18) 27 
Earnings before income taxes 2,356  2,063  1,921  1,735  1,160 
Income taxes 1,197  (1,043) (274) (296) (645)
Net earnings 3,553  1,020  1,647  1,439  515 

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12).

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.’s net sales increased from 2016 to 2017 and from 2017 to 2018.
Operating income The net result for the period of deducting operating expenses from operating revenues. Stryker Corp.’s operating income increased from 2016 to 2017 and from 2017 to 2018.
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.’s earnings before income taxes increased from 2016 to 2017 and from 2017 to 2018.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Stryker Corp.’s net earnings declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.