Stock Analysis on Net
Stock Analysis on Net

Stryker Corp. (NYSE:SYK)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Stryker Corp., consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended: Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Net earnings (loss) 302  568  621  (83) 493  725  466  480  412  2,068  590  452  443  (249) 434  391  444  510  355  380  402 
Depreciation 95  93  84  83  80  83  78  77  76  83  73  76  74  73  71  65  62  62  59  57  49 
Amortization of intangible assets 181  130  114  110  118  112  116  122  114  93  112  110  102  96  92  95  88  89  89  88  53 
Asset impairments —  54  —  161  —  14  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Share-based compensation 68  27  29  30  56  32  32  28  35  32  30  28  29  28  27  26  32  26  22  21  28 
Recall charges 21  —  (6) 13  49  117  13  13  95  43  26  54  57  28  19 
Sale of inventory stepped-up to fair value at acquisition 79  39  —  12  17  14  24  10  (5) 22  —  —  —  (1) 35  — 
Excess income tax benefits from stock issued under employee stock plans —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (5) (4) (27) — 
Deferred income tax expense (benefit) —  48  —  —  —  126  —  —  —  (1,582) —  —  —  36  —  —  —  (46) —  —  — 
Accounts receivable 65  (113) (204) 467  204  (439) (52) (122) 50  (179) (24) 139  (234) (25) (15) 112  (214) (35) (29) 86 
Inventories (73) 181  27  (59) (122) 14  (129) (146) (139) 60  (151) (150) (144) (130) (78) (114) (82) (116) (109)
Accounts payable (37) 126  (97) 63  26  53  (4) (12) 59  (8) 32  33  23  10  (35) 23  (5) (6) (22) 17 
Accrued expenses and other liabilities (178) 130  191  175  (550) 49  140  90  (166) 329  150  116  (306) 187  25  201  (323) 246  118  64  (254)
Recall-related payments (8) (4) (1) (8) (4) (5) (138) (14) (20) (1) (21) (40) (28) (34) (368) (30) (94) (62) (24) (49) (108)
Income taxes (21) 44  (123) 84  (11) (8) (95) 75  (184) (95) 48  711  (31) 27  (3) (132) (27) (15) (16)
Other, net (54) (42) (86) (39) 169  (16) (33) (83) (14) 24  134  (100) (121) (40) (102) 118  (31) 53  36 
Changes in operating assets and liabilities (279) 257  (21) 316  (156) (382) (131) (324) (361) 329  (186) (27) (358) 664  (640) 30  (501) (41) (87) (114) (348)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities 150  669  208  703  98  10  163  34  (99) (1,022) 28  197  (146) 928  (355) 259  (293) 138  138  88  (199)
Net cash provided by operating activities 452  1,237  829  620  591  735  629  514  313  1,046  618  649  297  679  79  650  151  648  493  468  203 
Acquisitions, net of cash acquired (27) (4,196) —  (3) (23) (521) (21) (80) (180) (1,681) (3) (63) (704) (119) (674) (29) (9) (36) (77) (4,196) (23)
Purchases of marketable securities (5) (20) (11) (15) (8) (17) (20) (17) (20) (12) (69) (68) (77) (185) (19) (54) (12) (15) (20) (22) (94)
Proceeds from sales of marketable securities 12  17  13  19  12  17  18  15  19  221  56  64  53  31  20  22  14  16  117  363  289 
Purchases of property, plant and equipment (83) (165) (69) (109) (144) (199) (163) (165) (122) (154) (140) (157) (121) (186) (142) (131) (139) (143) (118) (114) (115)
Other investing, net 12  (2) (9) —  —  —  —  (2) —  —  —  (1) —  —  —  (4) —  — 
Net cash (used in) provided by investing activities (96) (4,352) (69) (117) (163) (719) (186) (247) (303) (1,628) (156) (224) (849) (460) (815) (192) (146) (177) (102) (3,969) 57 
Proceeds (payments) on short-term borrowings, net (9) (5) —  (13) 18  (12) (1) (106) 99  (2) (143) (359) 304  —  —  —  — 
Proceeds from issuance of long-term debt 999  —  2,293  —  2,642  —  —  —  2,531  —  —  595  —  498  —  —  —  —  — 
Payments on long-term debt (750) (1,797) —  —  (500) (1) —  —  (1,341) (69) —  (600) —  —  —  —  —  —  —  —  — 
Proceeds from (payments on) borrowings (legacy) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  94  (793) 156  3,455 
Dividends paid (238) (216) (216) (216) (215) (193) (195) (195) (195) (175) (176) (176) (176) (159) (159) (159) (159) (142) (142) (142) (142)
Repurchases of common stock —  —  —  —  —  —  —  —  (307) —  —  —  (300) —  —  —  (230) —  —  —  (13)
Cash paid for taxes from withheld shares (53) (31) (11) (12) (56) (6) (19) (14) (97) (16) (8) (21) (75) (12) (10) (21) (52) —  —  —  — 
Excess income tax benefits from stock issued under employee stock plans —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  27  — 
Payments to purchase noncontrolling interest —  —  —  —  —  —  —  —  —  —  —  (9) (5) (99) —  —  —  —  —  —  — 
Other financing, net (19) (3) (10) (13) (1) (79) (5) (1) (33) —  (8) (17) 18 
Net cash provided by (used in) financing activities (1,053) (1,057) (242) 2,056  (768) 2,363  (225) (188) (1,947) 2,280  (179) (917) 145  (272) (345) (40) (137) (42) (939) 24  3,318 
Effect of exchange rate changes on cash and cash equivalents (8) 32  26  16  (33) 10  (24) (5) —  (6) (46) 44  24  18  29  (66) 11  (9) 19 
Change in cash and cash equivalents (705) (4,140) 544  2,575  (373) 2,389  194  80  (1,942) 1,698  277  (538) (363) (50) (1,057) 436  (103) 363  (537) (3,486) 3,597 

Based on: 10-Q (filing date: 2021-04-28), 10-K (filing date: 2021-02-11), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Stryker Corp.’s net cash provided by operating activities increased from Q3 2020 to Q4 2020 but then decreased significantly from Q4 2020 to Q1 2021.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Stryker Corp.’s net cash (used in) provided by investing activities decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 not reaching Q3 2020 level.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Stryker Corp.’s net cash provided by (used in) financing activities decreased from Q3 2020 to Q4 2020 but then slightly increased from Q4 2020 to Q1 2021.