Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Stryker Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
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 accounts payable balance showed an overall upward trend from March 2017 through March 2022, increasing from $456 million to $1,084 million. Notable peaks occurred at year-end quarters such as December 2020 ($810 million) and December 2021 ($1,129 million), indicating seasonality or accumulation of payables towards the year-end.
- Accrued compensation
- Accrued compensation exhibited some volatility, initially rising sharply from $457 million in March 2017 to $838 million by December 2017. Subsequently, it fluctuated but generally increased, with notable highs in December 2020 ($925 million) and December 2021 ($1,092 million). This pattern may reflect timing of bonuses or other personnel costs.
- Income taxes (current)
- Current income tax liabilities fluctuated over the period without a clear directional trend, peaking at $373 million in December 2021 and recording the lowest values around mid-2019 and early 2022. This variability likely corresponds to tax payment schedules and the company's taxable income fluctuations.
- Dividends payable
- Dividends payable increased modestly from $159 million in early 2017 to $263 million by March 2022, with consistent growth indicating steady or gradually rising dividend declarations over time.
- Accrued product liabilities
- Data on accrued product liabilities were scarce before 2020. From March 2020 onwards, these liabilities showed a declining trend from $515 million down to $430 million by March 2022, suggesting improved product liability management or decreased associated costs.
- Accrued expenses and other liabilities
- Accrued expenses and other liabilities generally increased from $1,404 million in March 2017 to a peak around $1,766 million in September 2020, followed by mild fluctuations around $1,450-$1,545 million through early 2022. This indicates overall growth in accrued obligations with some stabilization post-2020.
- Current maturities of debt
- This item showed significant variability, notably a spike to $1,984 million in March 2018, followed by fluctuating but generally lower levels in 2019 and 2021. This suggests significant debt refinancing or principal repayments occurring in certain quarters.
- Current liabilities
- Current liabilities displayed strong volatility, with peaks such as $4,800 million in March 2018 and $5,041 million in December 2020. Despite some decrease periods, the overall trend is increasing, reflecting expanding short-term obligations.
- Long-term debt, excluding current maturities
- Long-term debt excluding current maturities remained relatively stable between 2017 and 2018 but saw sharp increases in subsequent years, rising from $7,184 million in March 2017 to $13,885 million in March 2022. This indicates increased leverage or capital raising through long-term borrowing.
- Income taxes (non-current)
- Non-current income taxes showed a steady decline from $1,261 million in March 2018 to $917 million in March 2022, reflecting reductions in deferred tax liabilities or changes in tax positions over time.
- Other noncurrent liabilities
- Other noncurrent liabilities fluctuated but generally rose from $1,075 million in early 2017 to $1,881 million in March 2022, with a peak around December 2020 at $1,985 million. This may indicate increases in long-term obligations outside debt, such as pension or environmental liabilities.
- Noncurrent liabilities
- Noncurrent liabilities overall increased substantially from approximately $8,259 million in March 2017 to $16,683 million by March 2022. The steady expansion reflects the rises in long-term debt and other obligations, with spikes coinciding with December reporting periods.
- Total liabilities
- Total liabilities grew significantly from $10,813 million in March 2017 to $21,091 million in March 2022, nearly doubling. Notable jumps occurred in late 2018 and late 2019, consistent with increases in both current and noncurrent liabilities, indicating growth in the company's total obligations.
- Common stock
- Common stock par value remained nearly constant at $37-$38 million, indicating no significant issuance or repurchase affecting the par value component of equity.
- Additional paid-in capital
- Additional paid-in capital steadily increased from $1,439 million in 2017 to $1,947 million in early 2022, reflecting equity raises or issuance of stock premium over the period.
- Retained earnings
- Retained earnings generally rose from $8,903 million in March 2017 to $13,540 million by March 2022, despite some fluctuations. This reflects cumulative net income retention net of dividends paid, indicating profitability and reinvestment into the company.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss deepened from -$675 million in early 2017 to a maximum loss of -$1,157 million in December 2020, then improved to -$479 million by March 2022. This suggests volatility in items such as foreign currency translation adjustments or actuarial losses on pensions.
- Total shareholders’ equity
- Shareholders’ equity increased from approximately $9,704 million in March 2017 to $15,046 million in March 2022, showing steady growth driven primarily by retained earnings and additional paid-in capital, partially offset by accumulated other comprehensive losses.
- Total liabilities and shareholders’ equity
- The sum of liabilities and equity expanded from $20,517 million in March 2017 to $36,137 million in March 2022, indicating overall growth in the company’s balance sheet size by about 76%. Growth in both liabilities and equity components supported this increase.